How to Keep Up With Your Financial Resolutions?

your financial resolutions

Before you lose track of your new year financial resolutions, let’s look at why we find it challenging to keep up with our resolutions and tips to achieve them.

In the first week of January, we all are enthusiastic about setting our financial new year resolutions. But, as weeks pass by, we all get tempted to leave our resolutions behind and go with the flow. 

Most of us would not deny the fact that by the end of January, we all tend to forget the word ‘resolution’ until the next January comes up. 

Don’t worry. You are not alone. We all have been through this. So today, we will tell you why we fail to keep up with our new year’s resolutions and what you should do to fix it. 

Let’s begin.

Why Do We Fail to Keep Up With Our New Year’s Resolutions?

Did you know that only 16% of individuals keep up with their resolutions for the rest of the year? In comparison, others give up within one to six weeks of starting. And the fun fact is that many of these resolutions are repeated year after year because they couldn’t keep up with them in the last year. 

When people are asked why they are not keeping up with their resolutions, they say they don’t have time to do so. Well, the real reason is their resolutions are lacking these 3 things: 

  • Their goals were unclear and were not adequately planned. 
  • The resolutions lacked the willingness to complete the task, or the goals were unrealistic. 
  • Even if a few people follow their resolutions for a while, they fail to review their progress and hence lose consistency. 

5 Rules To Keep Up With Your New Year’s Resolutions


  • Analyse ‘Why’ Are You Not Able To Keep Up With Your Resolutions

When we plan our new year’s resolutions, we often think about long-term goals like saving and investing money for the downpayment of our dream home or sending our kids abroad to study etc. 

Now, to fulfil these dreams, you would have thought of an amount you would save and invest every month. If you cannot accumulate enough money every month, you must ask yourself what obstacles are holding you back. Review your monthly budget, check where you are spending unnecessarily and find a solution to get back on track. 

  • Make a Pathway

If you think you have taken too much burden by taking a huge resolution, break the target into smaller pieces, make your goal realistic, and set a timeline. 

For example, if you wish to book a house with a down payment of Rs 20 lakhs. Set a target of accumulating Rs 5 lakhs this year. Every month keep Rs 41,600 aside and review if, after every three months, you have accumulated Rs 1,25,000. 

If you lose track in the middle, repeat step one and try to get back on track. 

  • Invest

Just saving would not help your money grow. Find an investment option where you can earn good returns. For example, if you accumulate Rs 5 lakhs every year, you will take five years to achieve your target of accumulating Rs 20 lakhs. Meanwhile, if you invest Rs 5 lakhs at an interest rate of 8% per annum compounding yearly, after five years, you will get an accumulated corpus of Rs 7,34,664.04! That is an interest of Rs 2,34,664.04 in 5 years!

If you keep investing your money, you will achieve your target sooner. 

  • Set Up Auto Debit

Our busy schedules must not affect our dreams. Hence, setting up auto debit for your investment is a great way to stay disciplined while investing. 

  • Review Your Progress

Words cannot express the gratification we get when we successfully achieve our goals. Right? 

So, set a calendar reminder and check how far you have reached. Accordingly, analyse how you are going to achieve your goals. If you wish to modify your strategy, do it and check how it will impact your final goal. Moreover, if you receive a bonus from your workplace, make sure you invest it towards your goal instead of spending it.


If you have made a new year’s resolution, don’t let it slip from your mind. It’s time to take responsibility, take disciplined steps and stay connected with your goal. In short, you must focus, manifest and take action to make your dreams a reality.

Teji Mandi Multiplier Portfolio of high quality companies that blends shorter term tactical bets with long term winners Subscription Fee
Min. Investment
Teji Mandi Multiplier Portfolio

Teji Mandi Multiplier

Concentrated portfolio of fundamentally strong small & midcap stocks that are likely to show potential growth.


Min. Investment

Subscription Fee

Teji Mandi Flagship A basket of 15-20 long-term and tactical stocks that we regularly rebalance to adjust to the market conditions. Subscription Fee
Min. Investment
Teji mandi Flagship portfolio

Teji Mandi Flagship

A Multi-Cap portfolio of 15-20 stocks that consists of tactical bets and long-term winners that generate index-beating returns.


Min. Investment

Subscription Fee

Recommended Articles

"Register Your Interest"