5 Money Resolutions To Ditch This New Year — and 5 To Try Instead

Core Insights - Many individuals set ambitious financial goals at the beginning of the year, but often fail to maintain momentum or achieve these goals due to their rigidity or unrealistic nature [1][2] Group 1: Financial Resolutions - The resolution to stop spending on nonessential items can lead to burnout and increased spending later; instead, planning for intentional splurges can create a healthier balance between saving and enjoying life [3][4] - Setting a goal to save a specific amount, such as $10,000, may overlook real-life financial fluctuations; a more flexible approach is to save a percentage of income, which adjusts with earnings and promotes long-term savings [5][6] - Aiming to pay off all debt in one year can lead to disappointment; focusing on incremental progress and balancing other financial goals, such as building an emergency fund, is crucial [7]