Healthy Financial Intentions: From a Financial Advisor
The New Year encourages many of us to set strong financial goals. These goals may include paying off debt, saving money, or following a strict budget. These goals are good, but they can feel too much at times. Without a clear plan, people may give up on them before the year really starts.
Research shows that almost 25% of people give up on their resolutions in the first week. By the end of January, 43% have abandoned them. Instead of setting yourself up for potential disappointment, consider a different path—one rooted in intentionality and purpose.
Setting goals is an important first step, but true progress comes from developing a mindset and lifestyle aligned with those goals. This is where financial intentions come into play.
What Are Financial Intentions?
Financial intentions go beyond setting goals. They represent a deliberate and thoughtful commitment to aligning your decisions, habits, and mindset with your values and aspirations. Unlike rigid goals, intentions can guide you through setbacks, keeping you focused on the bigger picture.
As we enter the New Year, consider embracing these practical strategies to build a financially intentional life:
1. Clarify Your Values
Begin by identifying what truly matters to you. Generic goals like “saving more” or “earning more” are easier to give up. This happens when they do not connect to your values.
Reflect on your priorities and long-term aspirations. Do you value freedom, security, or providing opportunities for your family? Let these values shape your financial decisions. For example:
● Paying off debt might stem from a desire for financial freedom.
● Building an emergency fund could align with your value of stability.
● Saving for your child’s education might reflect a commitment to their future.
When your goals are tied to meaningful values, they become a powerful compass that keeps you on track, even during challenging times.
2. Invest in Financial Knowledge
A strong foundation in financial literacy is key to making confident, informed decisions. Learning about budgeting, investing, debt management, and retirement planning can help you achieve your goals with greater ease.
Start by focusing on the areas most relevant to your goals. For example:
● If you're paying down debt, research repayment strategies or consider debt consolidation.
● If you're saving for a major expense, like a home, explore the best savings accounts or investment options.
Keep learning about personal finance. Read books, attend workshops, listen to podcasts, or ask financial professionals for advice. As your knowledge grows, so will your confidence—and managing your money may even become enjoyable.
3. Create Positive Financial Affirmations
How you talk to yourself matters. Negative self-talk can sabotage your progress, while positive affirmations can reshape your mindset and encourage constructive behavior.
Write a few affirmations that reflect your financial goals and values. Repeat them daily to reinforce your commitment. Here are some examples:
● "I am capable of managing my money wisely."
● "Each financial decision I make brings me closer to my goals."
● "I attract opportunities for financial growth and success."
● "I am grateful for the abundance in my life."
By fostering a positive outlook, these affirmations can help you stay motivated and focused on your intentions.
Embracing a Financially Intentional Year
It’s easy to feel discouraged when goals remain unmet year after year. Instead of focusing on past setbacks, use this New Year to improve your finances with new goals and clear plans.
Achieving financial progress doesn’t have to feel isolating or overwhelming. With clear values, a commitment to learning, and a positive mindset, you can create lasting change. This year, focus on important steps for your financial health. Celebrate the progress you make, whether big or small.
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Disclosures:
This information is an overview and should not be considered as specific guidance or recommendations for any individual or business.
This material is provided as a courtesy and for educational purposes only.
These are the views of the author, not the named Representative or Advisory Services Network, LLC, and should not be construed as investment advice. Neither the named Representative nor Advisory Services Network, LLC gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your Financial Advisor for further information.
