New Year, New You — Are You For Real?

New Years Resolution

‘New Year, New Me’ — Are you being rational when you say this? Given that just 8% of people follow through on their New Year’s goals, becoming a different version of yourself when the new year starts is highly unlikely. Here’s what you can do to better your likelihood of success.

Why are you likely to fail?

A New Year’s resolution is a tradition where a person resolves to change an undesired trait or behaviour to accomplish a personal goal. While it sounds like a solid way to start your year and become a better version of yourself, 88% of those who set resolutions fail to attain them. Why is that the case? Here’s my take on the issue. 

Setting resolutions is not the problem, but, setting resolutions without planning the steps you will undertake to achieve them is the reason numerous resolutions go unfulfilled. And as time goes by, with no clear plan in sight, it is inevitable that the majority of us fall back to our original habits. 

How can I ensure I achieve my resolutions?

The key to fulfilling your resolutions is setting specific goals for you to work towards and outlining the steps you are going to take. 

Let’s take a look at one of the most prominent resolutions — losing weight. The resolution itself lacks clarity. How much weight do you want to lose? What are you going to do to work towards this? And most importantly, why do you want to lose weight? 

You could start off by first writing your resolutions as goals, a set of specific statements that you want to accomplish by a certain date. Following that, drafting out a list of measures you will undertake to realize these goals would provide you with a clear roadmap. Let’s take the above example of losing weight. Possible goals and steps that you can set are: 

  • Losing weight → I want to reach a weight of 80kg by March this year. 
  • I will sign up for a gym membership and exercise at least two times a week. 
  • I will eat healthier by adding vegetables to my diet and limiting my intake of fried food and sugar. 
  • I will drink at least 4 litres of water a day. 

This does not signify that lacking a strict routine to follow your steps will lead to failure but rather, keeping them in mind and making a conscious effort to stick to your steps will help you achieve your goals and therefore, your resolution.

A tip to keep yourself motivated in your journey

There will be times when the going gets tough and you will feel like giving in to your old habits. Ryan Eidson, an author, has a great tip to keep you motivated during these times. It is to tell yourself why you want to achieve your goal. 

  • I want to reach a weight of 80kg by March because I want to lead a healthier life and have a more toned body. 

Reminding yourself of the reason(s) behind your goals is key to keep yourself motivated and continually work towards achieving your goals and thus, your resolution. 

Bottom Line

Overall, making a plan to fulfil your resolutions will greatly improve your likelihood of success. Instead of making drastic changes, putting in the effort to take small but consistent steps towards your goals is the way to go. With that, wishing you all the best in your future goals and a Happy New Year from WealthUp!

Written by

Rakesh Selvaraj

Last updated on

December 27th 2019, 2:57 pm

Skip the daily news.
Subscribe to our Weekly newsletter for relevant market news and global trends.