2015 is here. If you’re like the average American, you’ve already compiled a list of resolutions and aggrandizing goals for the New Year. Unfortunately, most of us will waver by February. A recent Time magazine article highlighted the importance of psychological triggers when it comes to keeping resolutions, and we agree. If you’re committed to change next year, read on to learn some new facts about commonly-abandoned initiatives. A financial viewpoint could help you maintain the necessary momentum.
Broken resolutions include:
Time referenced a study that required weight loss participants to pay if they fail to meet their goals. 21% of medical expenses in the U.S. are due to obesity. Weight problems can lead to a myriad of ailments, including heart disease, stroke, diabetes, joint problems, depression…and the list goes on. Put health first in 2015. Your self-esteem and savings account will thank you.
We’re all guilty of the occasional dessert or unhealthy dinner, but do you know how much it costs you? A study conducted by the Harvard School of Public Health revealed that healthy eating costs about $1.50 more per day than unhealthy eating. That said, the effects of poor nutrition are sure to have a negative impact on your overall health, energy levels and insurance premiums; three factors that will add to your bottom line. The verdict: Aim to improve your health and your bank account by skipping the drive-thru in favor of lean protein, fruits and vegetables. The result will have a dramatic impact on your life. As Time suggests, it’s not enough to just “wing it.” Create a meal plan that allows you to prioritize health and budget. The result will have a dramatic impact on your life.
Smoking kills, period. Lung cancer is the leading cause of cancer death in the United States. The average heavy smoker consumes at least one pack of cigarettes per day, a habit that can cost $5,300 or more per year. When it comes to resolutions, this one is a no-brainer: Start fresh in 2015 by eliminating your tobacco dependence. The result will lengthen your life and help you save money.
The average wine bottle contains four single-serving glasses. Let’s assume you have two glasses of wine every evening after work. You’ll need to buy 183 bottles a year to keep your habit going. At $15 a bottle for a decent pinot noir, you’ll spend $2,745 on alcohol alone in 2015. Consider curbing your drinking in favor of health and savings. Remind yourself of the greater cost of frequent consumption.
Hobbies are a luxury for many, especially if your budget is already tight. While we aren’t suggesting sailing lessons (or buying a boat, for that matter) who says your interests should cost you? The internet is filled with free sources of learning, including YouTube tutorials, university courses and more. If you crave the social scene, visit Meetup.com to find a free group in your area. Getting involved will help you stay motivated and engaged in 2015.
1 in 10 families have never eaten dinner at a table together, and 20% of American meals are fast food, usually consumed in the car. A lack of togetherness may not bother your brood, but unhealthy habits often lead to unhealthy spending. Limit screen time in favor of family time in 2015. Relying on each other for entertainment is an easy way to build stronger relationships—and curb utility costs in the process.
Burnout is a common side effect of adulthood. We all know this, but few of us take measurable steps to change it. Breathe some life into 2015 by scheduling much-needed vacation time. Travel to a warm location that offers all-inclusive, affordable pricing. If your budget isn’t travel-friendly, hit the road for a weekend to a nearby attraction or unknown town. The bottom line: Don’t allow burnout to affect your motivation and earning potential. Sometimes it’s necessary to spend.
According to the Mayo Clinic, common effects of stress include lack of concentration, depression, high blood pressure, heart disease, gastrointestinal disease and self-destructive behavior. These are hardly a recipe for success. Whether it’s work, family or finances, 2015 is the time to reduce your stress levels. Identify the cause(s) and consult a counselor if you need help. Learning how to manage stress will help you avoid costly medical bills, problems at work and behaviors that affect your well-being.
It seems counterintuitive, but giving your time and money can actually help you save too. Donating time to others will help you make better use of working and non-working hours. Further, donating money will help you focus on budgeting and affordability in your own life. The keyword is organization, and volunteering is a step in the right direction.
One thing is clear from the resolutions above: money management requires change! It’s not enough to vow debt reduction in 2015; first, you need to examine your lifestyle. How do you spend your money? What are your most wasteful habits? What will you do differently next year? Change begins with asking the hard questions. Don’t forget about your resolutions in 2015. Adopt a new perspective to secure a better life.
