{"id":67915,"date":"2023-01-17T14:44:56","date_gmt":"2023-01-17T21:44:56","guid":{"rendered":"https:\/\/in.nau.edu\/news\/?p=67915"},"modified":"2023-01-26T17:10:25","modified_gmt":"2023-01-27T00:10:25","slug":"struggling-with-your-new-years-resolution-learn-how-to-do-them-right-and-sustainably","status":"publish","type":"post","link":"https:\/\/in.nau.edu\/news\/struggling-with-your-new-years-resolution-learn-how-to-do-them-right-and-sustainably\/","title":{"rendered":"Struggling with your New Year’s Resolution? Learn how to do them right (and sustainably)"},"content":{"rendered":"

Did you know that most people who make New Year\u2019s resolutions quit on Jan. 19<\/a>? <\/span>\u00a0<\/span><\/p>\n

If you\u2019re struggling to keep going, you\u2019re not alone. Even if you\u2019re not a resolutions person, the new year is always a good time to strive to be better with finances and take steps toward a healthier lifestyle. Two NAU experts weigh in on how to be more successful with two of the most popular resolutions.<\/span><\/p>\n

Help reduce stress through financial goal setting<\/strong><\/h2>\n
\"portrait<\/a>
Nancy Baca, Associate Teaching Professor of Economics, Interim Director \u2013 Economic Policy Institute<\/figcaption><\/figure>\n

Nancy Baca <\/span><\/b>is an associate teaching professor of economics and interim director of the Economic Policy Institute (EPI) at The W. A. Franke College of Business. When she\u2019s not running the EPI or teaching economics to NAU students, Baca creates and teaches financial literacy programs throughout northern Arizona. Her programs include Financial Family Fun Night and Financial Fitness in Action, created for and disseminated to northern Arizona high school students and their families. With \u2018being better with money\u2019 ranking among the most popular resolutions, Baca shares manageable steps to becoming more proactive with your finances.<\/span>\u00a0<\/span><\/p>\n

Studies have shown a strong correlation between financial stress and mental well-being. Financial issues are the top source of stress for most people \u2013 even more stressful than family, politics, health or jobs. Because money is such an integral part of everyday life, it is hard to ignore financial issues. Financial stress can increase arguing with family members, cause loss of sleep, resulting in feelings of fear and uncertainty, and make some people withdraw from personal interaction. Having a solid financial plan can help reduce financial stress and protect your mental health.<\/span>\u00a0<\/span><\/p>\n

The start of a new year is a great time to think about how we can do things differently to set ourselves up for financial success in the coming months.\u202fSmall changes can make a big difference, and developing smart money habits is a great way to start implementing those changes. It is easy to lose sight of our financial goals, but they are the foundation for good decision-making.\u202fConsider the list of suggestions below to reduce financial stress and kick-start your financial future.<\/span>\u00a0<\/span><\/p>\n

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  1. Write down an achievable goal for the new year somewhere where you see it on a regular basis.<\/span>\u00a0<\/span><\/li>\n
  2. Create a budget so you have a better understanding of your expenses and where you might be able to save money.<\/span><\/li>\n
  3. Set up direct deposit to have some money go into your savings account every payday.\u202fStart the habit, no matter how small the amount.<\/span>\u00a0<\/span><\/li>\n
  4. Get an updated credit score for free from Experian, Equifax or Transunion. Learn more about how to improve your score.<\/span>\u00a0<\/span><\/li>\n
  5. Pay more than your minimum payment on credit card balances.<\/span><\/li>\n
  6. Call your credit card providers and ask for a lower interest rate. This doesn\u2019t always work, but it\u2019s worth a call.<\/span>\u00a0<\/span><\/li>\n<\/ol>\n

    Improve well-being by prioritizing health and fitness this year and beyond<\/strong><\/b><\/h2>\n

    Like financial fitness, multiple goals relating to fitness and living a healthier lifestyle also rank amongst the top new year\u2019s resolutions. It\u2019s never a bad time to want to be healthy and more active, but this goal receives extra attention in January; however, gyms tend to empty by February. So, how do we make these goals stick? <\/span>Frank Micale<\/span><\/b> is a lecturer and the FIT coordinator for the Department of Health Sciences at NAU and recently gave a workshop: New Year New You: Plan for Success in 2023 and Beyond. Micale breaks down the components of \u2018getting healthy\u2019 and shares his insights on concrete, actionable and most importantly, sustainable ways to work toward this goal. <\/span>\u00a0<\/span><\/p>\n