Thursday, January 13, 2011

Making and Keeping New Year’s Resolutions

By now you’ve probably made your New Year’s resolutions. But how do you keep them?

In the corporate world, employees are encouraged to set goals that follow five principles, summarized with the acronym SMART: specific, measurable, attainable, relevant, and time-bound. You can use these same principles in your New Year’s resolutions.

Consider an example. A resolution to lose weight is pretty vague and may not get you very far. But if you resolve to lose 15 pounds by St. Patrick’s Day, you have a goal that fulfills all of the SMART criteria: it is a specific number that you can measure and attain by your deadline.

Similarly, a goal to spend less and save more is not as focused as a SMART goal of saving $500 by June 30. Want to make it relevant? Decide what you will do with the $500—contribute to your RRSP, make a charitable donation, or put it in your education or vacation fund.

You might also find it helpful to write down your resolutions. Having goals in mind is great, but writing them down makes you feel like you’re really committed to them. A written list also gives you a benchmark for tracking your achievements. Seeing your progress will give you incentive to continue.

So get a pen and paper and get started on those SMART resolutions. By this time next year, you’ll be celebrating what you have accomplished and looking forward to achieving more!

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