Becoming Financially Fit In 2016

Ah, New Year’s — that time when we reminisce about the days of auld lang syne and vow to do better over the next 365 days. Money, or the thought of becoming financially fit is never far from our minds this time of year.

According to a recent study, about a third of the roughly 2,000 people who responded to the study plan to make a money resolution in 2016 — with the top three being to save more, pay off debt and spend less. While you may follow a disciplined regimen like a newly enlisted army private would, by the six-month mark, it’s very likely you could go AWOL.
Since we know it’s all too easy for enthusiasm to wane over time, we’ve come up with 12 months of money motivation — a calendar of simple to-dos that can help spark good financially fit habits, or give you an added push toward whatever goals you’ve set for yourself.
So if you feel your motivation starting to fail, check out my handy year-ahead guide. Come this time next year, you may be able to say you ended 2016 having made some sweet progress.
January: Start with a clean emotional (money) slate
What better way to begin the New Year than to forgive yourself for previous money mistakes. In other words, continuing to punish yourself for financial problems will stifle the positive attitude you need to move forward. So, knock it off now.
I suggest taking a particular money mistake — say, racking up a lot of credit card debt — and asking yourself three things: What did I learn from that mistake? What would I do differently today? And if I hadn’t made the mistake back then, would I have made it in the future — to a much greater extent?
The answers may not only help you glean lessons learned from your experience but may also give you the information needed to make wiser decisions moving forward.