It’s that time of year when most of us start to think about what the new year has in store and how we can better ourselves. One way is setting ourselves new year’s resolutions. It just so happens that it’s also the time when the skies are generally black or grey, the month is long and trying to detox after a debaucherous festive period is a lot easier said than done.
Throw in a tube strike for good measure and its easy to see why over 90% of people fail to achieve their resolutions!
Gyms start to swell for the first few weeks in January when people get off to a positive start with their healthkick. According to Gold’s Gym, its traffic jumps 40 percent between December and January. But just wait a few weeks – it won’t be long before all those good intentions die. In fact its no secret that a gym’s perfect customer are people who intend to work out, but don’t.
So what are the most common resolutions for 2017?
A survey conducted by Statistic Brain highlighted the below
- Lose weight / healthier eating
- Life / self improvements
- Better financial decisions
- Quit smoking
- Do more exciting things
They pretty much all fall into some form of ‘wellbeing’ type category, with a heavy focus on the ‘health’ category, which is also Bud’s focus for this month. We are offering to pay for one lucky Bud user’s ‘health and beauty’ spend for the month (up the value of £300), simply by referring Bud to your friends and family. Click here for more details.
At Bud we place high importance on our health. We all go to the gym, try to eat healthy and generally speaking, the mood and output is better when we are fighting fit and feeling good about ourselves. A healthy body creates a healthy mind and as Robert Ulrich famously said *“A healthy outside starts from the inside.” *
We also place high value on financial wellbeing. ‘Better financial decisions’ is flagged as the 3rd most common resolution. This is not surprising considering 46% of UK employees worry about their finances (as established by a Barclays financial wellbeing survey).
Our aim at Bud is to help users make ‘better financial decisions’ by making money management easier. Through our account aggregation you are able to see all your accounts combined, helping to simplify your bank statement. The spend categoriser helps you immediately see what you are spending and where, helping indicate if you should make a change, i.e. ‘spend less on coffee each month’. Plus keep an eye out for our marketplace which will introduce users to a host of other relevant financial services. Another way to help you make better financial decisions.
So why do so many people fail with their resolutions?
The main reason that people don’t stick to their resolutions is that they set too many or they’re unrealistic to achieve. Focusing on the SMART methodology helps you to quantifiably measure what you are trying to do and by when.
- S - Be specific
- M - Make them measurable
- A - Ensure they are achievable
- R - Make sure they are realistic
- T - Set a time period to complete, but also milestones along the way, to check in
If you truly want to achieve a resolution, set one that’s easy to tackle from day one.
And, if you think this all sounds like too much hard work and that it’s not worth making resolutions to begin with, bear in mind that people who make New Year’s resolutions are ten times more likely to achieve their goals than those who don’t.