New Year's Resolutions

5 Simple Steps To Making New Year’s Resolutions That Inspire Success

HAPPY NEW YEAR!

 

As we close out 2018, I’d like to ask you a question:  What does the New Year mean to you?  For many, the New Year represents a fresh start – a chance to hit the reset button, start something new, or maybe do something better.  Some folks call this making New Year’s Resolutions.  Others call it setting goals.  Unfortunately, whether it is a goal or resolution, most are forgotten before February 1.

How To Succeed And Stick To Your New Year's Resolutions

Do you really want a different outcome in 2019?  Then, guess what – you have to do things differently!  Here are 5 simple steps you can take today to keep your New Year’s Resolutions and achieve your goals.  Popular categories for New Year’s Resolutions are to improve health, finances and relationships.  That is why gym memberships, and subscriptions to finance and relationship sites soar in January!

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young couple with debt problem

How Would You Handle This Debt Problem?

Do you know anyone with a debt problem?  A colleague presented the following case regarding a young couple with a debt problem to me and asked for my input.  Since debt problems come up frequently, especially with younger clients, I thought sharing their story might help someone else in a similar situation.

The Debt Problem

“I have a couple, married a year ago with a baby. She has a school loan of $80,000 and he brought in $40,000 in credit card debt. All savings of $20,000 has been depleted by baby in hospital. They both have jobs, paying a total of $75,000 and trying to get second jobs. Suggestions? I've never run into this sort of debt problem before in clients. Thanks!”

The family dynamics in this case are pretty intense.  Having a baby has its own level of stress, both emotionally and financially.  When you compound it with a budget already strained by debt, I can only imagine what else is going on.  I am going to walk you through my process and as I do, please think about how you would advise this couple.  If this was your son or daughter (and your grandchild) how would you want them guided?  Unfortunately, having a debt problem is common.  Before I can dive into “advice mode”, I need to do a little digging.

Leave a commentattain goals, CERTIFIED FINANCIAL PLANNER, Certified Money Coach, family and money, financial advisor, financial planning, Financial Tips for Millennials, financial wellness, get out of debt, money conversation, Money Tips