With New Year’s celebrations now over it’s time for the hard work of resolution honoring to begin in earnest. Many of us will start the year resolving to spend less money and save more. If you’re like Shannon and me, the objective may be to accumulate enough to travel the world; or maybe you’re trying to build a college fund or pad a retirement nest egg. All worthy goals.
Unfortunately our good intentions are typically doomed to failure right from the start. By mid-year most of us will have fallen back into the same bad habits we resolve each year to end. We do that not because we lack the necessary willpower, but because we lack the correct perspective. To change our financial behavior we need to fundamentally change the way we think about money. We need to find a way to turn human nature, which constantly tempts us away from our long-term goals, to our advantage. Fortunately that is easier to do than you may think.