New Years Debt Resolutions

New Years Resolutions for 2002
by Scott Bilker

Scott Bilker is the author of the best-selling book "Credit Card and Debt Management." He is also the Editor and publisher of the FREE DebtSmart® E-mail Newsletter (http://www.debtsmart.com). Sign up today!

I didn't realize how much I was going to learn, personally, when I asked you all for your New Year's resolutions. I thank you for giving me so much to think about this year. I will be adding many of your resolutions to my own.

First off, 84% of us are making New Year's resolutions, but only 28% say they usually follow through. I know myself that if I set out to accomplish a goal and run into a few obstacles that there is a chance I may throw in the towel.

When this happens, when challenges arise and you seem to stop working toward your goal just remember that it's not over. You haven't failed. You can only fail if you quit!

If you find that you've stopped pursuing your goal--don't give up! Simply start right back like you've never stopped. Every step you take toward your goal gets you closer.

The Chinese Tao Ta Ching says, "People fail when they are on the verge of success. A tree as big around as a person's embrace begins with a small shoot; a terrace nine stories high begins with a pile of earth; a journey of a thousand miles starts under one's feet therefore, put as much care into the end as into the beginning and there will be no failure."

When I wanted to stop smoking my goal was to go as long as I could without having the next cigarette--not to quit. So far it's been six years.

There were other times that I though that I quit. I once went nearly one year without having a cigarette, but then one day I caved and had one. After that I figured that since I had one it's over, and I went right back to smoking.

Before my last cigarette six years ago I started to slow down by seeing how long I could go without smoking and not beating myself up when I did smoke.

If I was able to not smoke for five hours then I was successful because it was a few cigarettes less that day and I was moving toward my goal. Instead of getting upset about the one cigarette that I had when I felt weak, I focused on the success from the hundreds I had not smoked.

It took two years before I stopped thinking about smoking every single day! Finally, I can say "no" to smoking without feeling like I'm missing it, but that doesn't mean I've quit. I can never let my guard down, I must always work on this goal.

It's the same with your debt. You can always start paying on time, getting organized, and find the best credit deals. Just start today and you will find success!

The resolutions everyone submitted seem to fit into different categories. Each of the resolutions discussed below is a grouping of many submitted by DebtSmart Readers.

FINANCIAL RESOLUTIONS (My personal favorite.)

Resolution: "Equip my children to be frugal and conscientious."

Comments: This is on my list also. I need to get my kids interested in learning about money, understanding its value, and teach them how to track income and spending.