What are your New Year Resolutions this year?

Dec 23, 2019 | Tony Byrne's View

According to a recent ComRes poll the most common New Year’s resolutions in the UK include:

Exercise more (38 per cent)
Lose weight (33 per cent)
Eat more healthily (32 per cent)
Take a more active approach to health (15 per cent)
Learn new skill or hobby (15 per cent)
Spend more time on personal wellbeing (12 per cent)
Spend more time with family and friends (12 per cent)
Drink less alcohol (12 per cent)
Stop smoking (9 per cent)
Other (1 per cent)

While most people try to do something about their health or wellbeing, experts from comparison site, Moneyguru.com, suggest that by making a few small changes, you could also make your bank balance healthier.

For example, cutting down on takeaways (and those other little indulgences such as glasses of wine) and instead making a meal plan for the whole week, could help you save money too.

Other tips include ditching the expensive gym membership that you never use and instead going for walks, taking the stairs instead of the lift and watching fitness videos on YouTube (all free!).

As you may well be reading this blog on New Year’s Day, nursing a hangover with a bloated tummy from the festive over-indulgences, such resolutions as cutting down on your alcohol consumption and losing weight will make more sense than ever.

So how many people actually stick to their New Year Resolutions? Studies have shown that less than 25% of people actually stay committed to their resolutions after just 30 days, and only 8% accomplish them. Don’t be part of that statistic.

Well the key is in the above statistic about 30 days. Apparently it takes 30 days to break a habit or form a new habit so why not make it your target to stick to your New Year’s Resolution for at least 30 days? That way you know you have a fighting chance of sticking to your resolution after 30 days. Makes sense?

Sadly none of the top 10 New Year Resolutions include managing your finances better. This is a great pity because research shows that if you manage your money well enough to become financially free you will benefit from three outcomes.

You will live longer.
You will live a healthier life.
You will suffer less relationship breakdowns

The benefits of sound personal financial management are so great, why not make it your New Year’s Resolution to get your finances well and truly organised once and for all? Start by visiting personal finance sites such as MoneyGuru.com! You know it makes sense.

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