As financial planners, we’re passionate about setting goals (financial or otherwise), reassessing, and course correcting throughout the year. But after such a turbulent and unpredictable 2020, you might not feel motivated to set New Year’s resolutions for 2021.
Yet goal-setting is still important. In fact, a 2015 study found that when people wrote down their goals, they were 33 percent more successful in achieving them than those who formulated outcomes in their heads.
For 2021, we might not be able to confidently add “travel more” or “spend more in-person time with family and friends” to our New Year’s resolutions lists, but there are still many other goals that are within our control.
Here are some ideas:
10 New Year’s Resolution Ideas for 2021
1. Journal more. Journaling is a great way to de-stress and practice mindfulness. Whether it’s a gratitude journal, a “dear diary” journal, or a bullet journal, journaling helps you create structure in your day while also helping you self-reflect.
2. Take up other relaxing activities, such as yoga and meditation. Continuing the theme from goal #1, yoga and meditation will help you feel more centered and calm during this stressful time.
3. Read more, and/or join a book club. With everyone socially distancing, a virtual book club is a great way to stay connected with friends and colleagues. Looking for your first read? We recently shared on the blog three inspiring books on impact investing.
4. Give back. There’s been a record-breaking amount of charitable giving during the pandemic. In a Fidelity Charitable survey, 46 percent of millennials said they will give more in response to the pandemic. Looking for local San Francisco organizations to give back to? Here are some suggestions we recommended on the blog back in March, such as Meals on Meals, St. Anthony’s Foundation, and The Safety Net Fund.
5. Find new creative outlets. You might not be able to go to museums, movies, or concerts or take up a pottery or other art class in-person, but there are other safe creative outlet ideas. For instance, consider trying new recipes at home, taking a virtual art class, or trying other crafts at home.
6. Create personal work goals. Whether it’s getting a promotion or trying a new career path entirely, define what your professional goals are for the new year.
7. Step away from your phone. With all of us working remotely, it’s easy to stay glued to our phones all day — and doom-scroll on Twitter and news sites all night. Try to limit screen time in 2021; schedule phone-less breaks and leave your phone in the other room at night.
8. Spend time with family and friends (virtually). With the whole world telling us to stay inside and social distance, it’s easy to give up trying to make social connections. But for your mental and emotional health, you need to stay in touch with loved ones. Make sure to schedule video calls with family and/or stay in touch via email, text, or snail mail.
9. Review where your money is going. We had to include some financial New Year’s resolutions in here. Make it a goal to see where your money is going — what are your foundation expenses, discretionary expenses, intermittent expenses, and subsidized expenses? We go more in depth about this here. Armed with this knowledge, you can make more informed financial decisions throughout the year.
10. Build a budget — and create room for changes. Create a cashflow spreadsheet and plan out how much you want to spend and save each month.
Goal-Setting with The Humphreys Group
Our eleventh New Year’s resolution idea? Consult with a financial advisor. A financial advisor can help you define your values and create a path to reaching your financial goals — whether that’s paying off debt, saving up for a vacation in the future, buying a house, funding your child’s education, or saving for retirement. Make it a goal to at least have an introductory call with a financial advisor.
If you’re interested in working with The Humphreys Group, you can set up a complimentary introductory call with us today. We look forward to hearing from you!