Financial Management

Four Reasons Why Resolutions Fail

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So when we met early this year, he was heading to the gym, trying to sort out the old problem. He had kept it in the resolution list for five years. I only smiled sheepishly, because in my capacity I felt the inability to help.

Earlier this year, I shared, that six months into a New Year; only approximately 40% of resolutions are achieved. 60% fall through and a lot of people actually give up on the things they had committed to and return to business as usual. This keeps a lot of people awake trying to cope with the new uncomfortable status.

Over the years I have many times written down resolutions year on year basis. Here are four reasons why most of them fail, particularly the financially inclined ones.

1-      No emotions attached

When we do not attach emotions to resolutions, we evidently lose it. Marketing executives know this better. A product that has to outlive the buyer-seller initial interactions must engage and compel the emotions of the customers. The success of any resolutions must invoke emotions; otherwise it remains but a shell of fortunes.

2-      Resistance to change

It is said that only a fool does the same thing all the time and expects different results. There is a reason why successful people are said to embrace change and dive with it. One must be willing to raise standards or at least seek new ways to get the desired results. Otherwise the results remain the same. The financial struggle faced yester year remains. My involvement in change management processes especially among young people is always filled with need to unlearn, and then learn, because then new structures are built to replace old ones.

3-      Sticking to old habits

As the saying goes, quitting smoking while keeping ashtrays is like insisting to drink from a new cup when it is still at the manufacturer’s model. Sometimes it is good to burn old bridges, or even fence up old paths. There are some old habits that have to disappear if one is to succeed in realizing resolutions. An example is visiting some joints where one would drain down hard earned finances in a few nights. Our success in turning round much depends on this simple principle.

4-      Weak strength and resolve

Lastly, one should believe in and have strong enough reasons to stick with resolutions. Most of the times I have lost out on key new plans for the year is because the strength and resolve to follow it through was not solid. Convincing yourself is key to success in turning over our resolutions.

So, it is time to revisit where we lost it, and anchor our resolves on a solid foundation.

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