Five Tools for Actually Changing your Money Story in the New Year

“New year — a new chapter, new verse, or just the same old story? Ultimately, we write it. The choice is ours.” — Alex Morritt

There is something about beginnings that are intriguing and powerful. I think we all like to embrace a “fresh start”. And like this quote highlights, the beauty of that is we get to make that choice.

We get to decide to do something different whether it’s at the beginning of a new year, new quarter or even a new month. And beyond that, we get to decide if that new beginning starts on the 12th of the month on a Tuesday.

I think it’s important to remember exactly that. We do have a personal choice and I would say even a personal responsibility to make those decisions.

I’m sure you’ve heard the quote from Albert Einstein — “Insanity is doing the same thing over and over and expecting different results.” This quote reminds us that change requires us to actually do something different.

And again, the ability to change most things lies with us. Because we do have the personal power of choice.

Even when it comes to money, we can choose to have a different year than we had previously. It is easy for us to believe that money is outside our control. But the truth is, we do have the personal power to change how we think and feel about it.

When we are feeling different about it and thinking better thoughts about it, very often the physicality of the situations changes too. And that is because we are different on the inside.

Today, I’m sharing a few tips about starting off the new year, quarter, month, week or even day writing a new chapter with your money.

1 — Save more. One of the key principles that I practice and also teach my mindset clients is that taking even small action can lead to more empowerment. Feeling empowered can lead to big change.

So, this new year I encourage you to start day one by saving more. Here are a few ideas for you:

· Increase your 401k withhold by half a percent.

· Start a change jar and every week empty your change into it.

· Take $10 per pay period and put it in an envelope in your desk.

· Start a new savings account and put $20 in it each week.

Just small actions like this will help you write that new chapter on money.

2 — Review your expenses. So often we get into our comfortable patterns and we forget to actually pay attention to the detail of what we are spending.

Before you can change something, it helps to know where you are right now. So, even though it might seem boring or unnecessary, take a little time and review the detail of your expenses. I like to start with the last three months, but the last 12 months would be better.

You might just be surprised at what you find. Things like:

· A forgotten subscription that renews every month, quarter or year.

· A pattern of spending for Starbucks, or fast food.

· Increased fees for a service you don’t need or use.

Even if you don’t find anything that might need changed, you are empowered with more knowledge as you step into your new year with money.

3 — Gratitude every single day. I encourage all my clients to have a daily gratitude practice. Gratitude changes our emotions around things and also helps us see clearly how supported we already are.

It may sound silly, but as you embark on this journey of change with money, I encourage you to really embrace gratitude.

· Write three things you are grateful for every day in your journal.

· Start a practice with your family of going around the table and stating out loud what you are grateful for that day.

· Create a board where you document your money victories for the week.

It doesn’t have to be big or time consuming, but it will be powerful.

4 — Get clear on what you want and affirm it. Often when we start a new year or chapter toward change, we are too vague. We might say we want to lose weight, we want to have more money, or we want to go to be earlier.

While all of these things are great, they aren’t specific enough. When we truly want to effect change, we need to be clear on what we want. And I believe that we need to state it out loud and write it out clearly too, e.g., affirm it!

The action of getting clarity is important because when we know what we really want, we are more likely to get it. When we have a clear goal, we can more easily see the action steps needed to attain it.

When we affirm that goal, we are putting it out for others to help us. Our family, friends and even a higher power.

5 — Take ownership for change. One of the biggest downfalls I see with people and money is staying in a victim mindset. I started out this article with a quote about the choice being yours. And not only choice, but also ownership that’s yours too.

One of the most important aspects to changing your life, is actually taking ownership for it. That leaves no room for blaming someone else or circumstances for what actually is in your life.

It means that you embrace your role as a complete human being. You get to decide how you think, feel and act. You don’t have the power to change anyone but yourself, so acknowledging that and owning your power of personal choice goes a long way to creating the changes that you want.

No matter what you decide for your new year — big changes or same story — only you can create that for yourself. And you know what, that is the beauty of this life. We are in charge; we can create whatever we want with money or anything else.

I’d love to here what you think. Comment below and let me know.

Sherry Parks, CPA, is a Money Mindset Coach who helps women escape feeling trapped by their finances. She is passionate about helping women change mindset, emotions and actions regarding money, so that they learn to keep what they have and generate more.

Check out her 5 Steps to a Better Money Story workbook or join her women-only Facebook group More Than Enough Money Sisterhood.