Everyone wants to be intelligent with their money.  That’s easy enough to do,- on paper.  But when it comes to the psychology behind how we make financial decisions, most people have a long way to go.

I advise people to create New Year’s financial resolutions that employ a new type of SMART – Suitable, meaningful, articulated, revitalized, and timely.

  1. Resolve to think about your money differently. What do you want to do with your money that “suits” you?  What do you value?  What are your goals?  What is your vision of true prosperity?
  2. Resolve to make your money choices meaningful. Become mindful and intentional around your spending choices.  How do you make purchases based on “soul needs” versus “ego wants”?
  3. Resolve to delve into healthy conversations around money with the people who are affected by your financial decisions. Talk about your financial history, lessons learned, hopes realized, dreams to be fulfilled.  As you articulate to people who can learn from you or hold you accountable, you will create financial and emotional wealth
  4. Resolve to reconnect with all of your financial assets and how they are working for you. This can range from how your assets are allocated for taxation purposes or risk tolerance.  Do you have different types of assets that are positioned for accumulation or distribution.  It could be the equity in your home.  How do you want to use it (or not) to accomplish what is important to you?  It may be looking at your beneficiary designations to be sure they are up to date.  Once reviewed, you can make the necessary changes and get those resources revitalized.  
  5. Resolve to set the time frame for making small steps in the right direction. Take bites of manageable pieces to be successful.  Then, build on those successes and you create momentum for change.