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This Year, Accept That You Will Break Your Budget

https://www.thecut.com/2019/12/how-to-budget-in-the-new-year.html

thecut.com

This Year, Accept That You Will Break Your Budget
Maintaining new habits isn't just about avoiding the bad ones at all cost. It's normal to "relapse" and slip-ups can even be helpful, if you pay attention to the factors that might have triggered them and try to cope better next time.

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Phases of motivation

People cycle through periods of motivation, especially in the New Year. It’s best to harness these bursts of 'can-do energy' whenever they appear.

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The action phase

The New Year's resolution or 'action phase' is when you're highly motivated for change. Use it to set things in motion and automate as much as you can. 

  • Put your bills on autopay
  • Start using a savings app
  • Cut out any subscriptions you don't really need.

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The maintenance phase

If you don't have a plan when the New Year's glow has worn off in a few months, you will stop doing whatever you promised to do. 

To force yourself to stick to a budget:

  • Write down everything you spend.
  • Add it up at the end of every week.
  • Submit a report to help keep you accountable.

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Coping with relapses

It is common to have a setback. Once the initial streak of success has worn off,  you may lose momentum and fail to press on.

Do not take an all-or-nothing approach. Do not stop altogether. Instead, be flexible and learn from your mistakes. 

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SIMILAR ARTICLES & IDEAS:

Mistakes at Work

  • Most people unconsciously overreact about their mistakes.
  • It is much better to accept mistakes, learn from them, and move on.

Admit and acknowledge your mistake

  • It’s critical to be transparent, and candid own up to the mistake, and not blame others.
  • Even if it was a group mistake, acknowledge your role instead of hiding.
  • In cases where someone was hurt, issue an apology, but don’t apologize too much, or be defensive.
  • The key is to be action-oriented and focus on the future. 

Make use of your support network

A healthy support network is beneficial if it has authentic trusting relationships, has a varied range of perspectives, and follows the 'give and take rule'.

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Gretchen Rubin

“What you do every day matters more than what you do once in a while.”

Gretchen Rubin

One Step Daily

Most people do not stick to their New Year's resolutions because they focus on the entire task.

By just focusing on the daily small steps, one is able to create a successful daily routine.

Keep It Practical

Dial back your goal for the New Year to be a more practical, pragmatic one, and your chances of success will rise dramatically.

Don't be too hard on yourself.

New Year Resolutions that Stick

Whether it is a resolution to lose weight, to do more exercise, or to consume less sugar, we all have encountered hardships trying to stick with them.

Health-related New Year Resolutions are ...

One Thing At A Time

Making resolutions requires no effort, but if we decide to suddenly shift towards improving too many of our behaviors at once, it can backfire.

Focus on one thing that you want to change, at a time, and commit to it.

What You Can Control

You may not be able to change the external circumstances, stressful situations, or work environment. What you can do is control how you react to negative forces and stressful situations.

For example: If you get unhealthy food at your home, you can control how or when you eat it.