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Mississippi Money: Skip Your Financial Resolutions

Mississippi Money: Skip Your Financial Resolutions

You’ve been waiting for this day since February. You’ve been imagining how much better your life will be when you make and stick to New Year’s resolutions. In February you realized that you weren’t going to keep your current resolutions. They were too bold, too boring, or didn’t fit you quite right. Whatever the problem was, you discarded it and started looking towards 2020 as the year to do better.

How about we just skip those resolutions this year?

Instead of resolving to do bigger and better things this year, just take one step in the right direction. If you’re already on a good financial path, just take one more step down this path. Inertia is going to take over at some point, so all you need to do this time is make sure that that inertia will move you in the right direction.

Your future income is one of your greatest assets; maximize it. Ask for a raise, seek a new qualification or find work where you are more valued. Besides just an increase in your paycheck, ask about benefits you may not be taking advantage of. If your income is already generous, give yourself a raise by reviewing your investments, and cutting excess costs where you can.

Have an honest conversation with your children, your spouse, and your parents. Your children need your guidance. Even when you feel you have nothing to teach them about money or numbers, you can impart your values and your goals. Teach them how you make decisions and encourage them to be even better. Your spouse is your accountability partner. Share your hopes and fears and think of ways that you can help each other avoid money pitfalls, and keep climbing towards wealth. Ask your parents what values they have to impart to you. Be as involved as they want in their estate planning, and make sure that you understand their wishes for their legacy.

Be mindful with your spending. Every time I spend money, I take a moment to consider the expense. I consider how it makes me feel, how necessary that expense is and what my alternatives are. Be mindful of your spending. Don’t force yourself to change anything, but take note of what spending brings you joy and what spending you want to escape from.

Take one step in the right direction this year. Ask someone to hold you accountable. Don’t set numbers in stone that won’t be reached. Don’t craft a plan that will get ignored. Be mindful of your personal spending, your relationships with others and know your own worth. If you do those things, you won’t need to resolve to do better – you simply will be better.

About The Author

Ryder Taff

Ryder Taff currently lives in Jackson not too far from the home he grew up in! After graduating from the University of Bristol (England) he came home and started working at New Perspectives, Inc, an investment advisory that he is now a shareholder in. With his passion for education, he focuses on getting everyone from young professionals to families to retirees into excellent financial habits. You can reach him at

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