Now that 2008 has arrived, many Americans are rethinking the “resolutions” they made at the end of 2007. Traditionally those “resolutions” fall into three categories: health/fitness, personal finances and personal/professional growth/change.
Financial problems, which began escalating in 2007, will continue to create stress for growing numbers of Americans in the coming year and beyond, so it is not surprising that more men and women have set addressing financial problems as their number one goal for 2008. It is estimated that 52% of financial resolutions are to reduce debt and 25% are to save money.
History and research have proven that people who WRITE down their goals are the most successful people. Goals remain dreams and wishes unless they are written down. Setting and writing down goals facilitates assessing their relevance; evaluating commitment; developing a plan to achieve them and measuring progress and success.
While the New Year prompts resolutions and generates motivation for them, achievement lies in the planning and the follow through. It is easy to enumerate upon the most important steps to take in reducing debt and increasing assets, but those steps mean relatively little because financial success is ultimately determined not by information and education but by each individual’s commitment, connection and understanding of why taking these steps matters and how taking them benefits him and his family.
Financial stability depends on financial behavior and healthy financial behavior begins with addressing the thoughts, feelings and attitudes which influence the final choices and decisions we make. This is the psychosocial component of money which Financial Social Work is totally dedicated bringing to all Americans in order to help each one to change how (s)he spends, saves and lives: one person, one dollar, one day and one dream at a time.
