After a week or two of the New Year, many of us are starting to wonder why we ever vowed to those resolutions in the first place. Sure we want to get our spending under control or shed a few extra pounds, but these goals require lifestyle changes that aren’t always the easiest to make. However, throwing in the towel on those New Year’s resolutions may sabotage you in more way than one.
In addition to improving your health or overall mental well-being, several New Year’s resolutions will also help you get a better hold on your finances, especially if they are one of the following:
Getting Fit
If you have vowed to lose weight in the new year, you should definitely stick with that diet and exercise plan – even if it seems to be killing you right now. Not only will sticking to a diet plan scrape a few extra dollars of your everyday food bill, but choosing to live a healthier lifestyle overall will potentially save you thousands of dollars over your lifetime.
Heavier or obese individuals pay higher insurance premiums and tend to have higher medical expenses because they suffer from other conditions such as diabetes and heart disease. However, by keeping trim, you can enjoy a better quality of life and keep those extra dollars in your pocket.
Getting a Better Job
We all know that getting a better job will definitely increase your personal net worth in the long run, and for that reason alone, you shouldn’t give up on your job hunt so early in the new year. However, to increase your chances at getting a job, you might want to also consider adding to your current skill set through additional education.
While enrolling in college classes won’t guarantee you a new job, those who are more educated make more on average – even in this weak job market. So if you want the best chances at increasing your wealth through a better job, don’t give up the hunt and consider increasing your education.
Giving Up Vices
There is no doubt that smoking and drinking are expensive habits, and choosing to give up these types of vices can save you in other ways aside from the amount you spend on product alone. Like losing weight, giving up smoking and drinking can also save you money long-term due to the health conditions commonly associated with them. So it might be hard to avoid that happy hour or that 5-minute cigarette break, but giving up these vices now can literally save you thousands of dollars over the course of your life – allowing you to put that money towards more beneficial things such as your retirement account.
Sticking to those New Year’s resolutions is never easy, but that doesn’t mean you should throw in the towel so early. Even when it seems tough, commit to making those lifestyle changes as they will definitely better your overall life and increase your personal net worth. So if the end results isn’t enough motivation, consider the dollars you will be tucking away by sticking to those resolutions – it may be just the motivation you need.
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