Ring in the New Year Strong with SMART Financial Re-Solutions



The start of a New Year is an ideal time to make resolutions. While it is often the case that resolutions are easily forgotten, I think we can all agree that we should see 2021 as a year of positive growth, especially after the long, hard year we’ve all had.


So instead of making New Year’s resolution that are commonplace, like to exercise more (boring) or go on a diet (lame), try out one or two from this list below, and use these tips to make the most of the New Year! We encourage our members to take a few moments for a proactive approach to 2021 with financial resolutions that will count.


Liberty Financial Re-Solutions

✔ Identify your savings goals for the 2021.

✔Know what your existing expenses actually look like. You might think you spend $400 a month on groceries, and it may be more like $600 a month or $200 per week!

✔Factor in expenses that don't pop up monthly; like vehicle insurance premiums.

✔Don't allocate every last dollar of your paycheck, cater for the unexpected.

✔Ditch bad money habits like impulse spending.

✔Consider ways to improve your financial health.


To help you achieve those goals, there is a wealth of information online and many websites with great advice on how to save money, pay down debt and reach your financial goals. I recommend that this link as a good starting point to find the best ways to improve your finances in 2021 and beyond. https://www.daveramsey.com/blog/the-truth-about-budgeting


An excellent free budget template is also available at https://www.crown.org/wp-content/uploads/2018/02/EstimatedBudgetW.pdf.


While our focus for this article is evidently on the area of finances, make your 2021 resolutions meaningful by being SMART*. As you plan for 2021, whether it is in the area of finances, health, business, academic, spiritual, or any other area, make sure your goals are clear and attainable. Each goal should be:


Specific (simple, sensible, significant).

Measurable (meaningful, motivating).

Achievable (agreed, attainable).

Relevant (reasonable, realistic and results-based).

Time-bound (time-based, timely, time-sensitive).


Let us approach the New Year together with hope and optimism.


L. Vanessa Connor, MBA

Managing Director, LCCU

*Peter Drucker's Management by Objectives


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