Happy New Year!

Happy New Year! One of my favorite things to do is reflect on the past year month by month. It is an opportunity to celebrate and learn from the previous year’s highs and lows. I also love that it is a time for new beginnings. The challenge however is that resolutions are difficult to keep due to hard wired habits. Even with the best of intentions, it is very difficult to all of a sudden change learned behaviors.

This year leverage your habits to help effect the change you are seeking. Reflect on the habits that support your day to day – everything from making your bed to your social interactions. Consider how these habits can help effect the positive change you are seeking. For example you may want to read more. With some reflection, you might realize that you listen to the radio every day. Consider listening to a book via Audible when you would traditionally listen to the radio. You might actually fund yourself craving to hear more and this may lead to you reading (or listening) at other times in the day.

Some financial resolutions with supporting habits that could yield a positive financial impact and support other meaningful goals are:

Increase your financial literacy – Read an article every day about financial planning or the investment markets. Review your investment statement each quarter become more familiar with your risk profile, investments, investment strategy and fees. Ask your financial advisor questions. Host a weekly family meeting to discuss finances and family values and needs.

Invest in yourself – Set up a systematic savings plan for your short term and long term goals. Spend money on support that will further your personal and professional development. Surround yourself with people and resources that are going to support you. Connect with them regularly.

Know what you are spending money on – Track the amount you spend per category (everything from groceries to birthday presents) per month. Make a conscious effort to look at the prices of everything. Utilize online shopping carts to give yourself time to find a better deal and delay emotional and/or casual spending

This new year center your resolutions on creating new positive habits and celebrating old positive habits – 2018 could be your best year yet!

Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Advisor.  Fixed insurance products and services offered by Concentric Private Wealth®.

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Advisory services offered through Commonwealth Financial Network®, Registered Investment Advisor.