For Today’s Practical Planning Tip I am going to share some thoughts on Sticking With Your Learning And Financial Resolutions with a focus today on the importance of keeping it simple.
So, It’s a few weeks into the New Year. By now many people have given up on their New Year’s resolutions. The gyms are less crowded, Shacharit in shul is emptier, and we are settling back to our old routines. Even if you’re already off the bandwagon, don’t throw in the towel on your goals just yet. It’s still early in the year and there is still hope!
When it comes to goal setting and building healthy habits, there are some helpful tips to keep in mind. While I am not a self-help coach or a motivational guru, I will spend the next few days highlighting some things that have worked for me when establishing goals for my finances and my yiddishkeit. Like everyone, I am still a work in progress, but my framework has been helpful as I’ve tried to build the right habits.
First is to try to Keep things simple: In life, it usually makes the most sense to keep things simple. With too many components or choices, it’s easy to get overwhelmed. Instead of focusing on the myriad of options available, just pick one or two sensible items. Applying this to Torah learning, just pick two from the many great shiurim and topics available to learn that you’d like to commit to sticking with. I personally try to learn shnayim mikrah v’echod targum and the Daf Yomi. I like the idea of having a set schedule and both are easy to do from home or on the road.
When it comes to personal finances, there are also many cool things out there. However, the determinant of success always comes down to sticking to the basics. The foundation of personal finance is simply: 1) Spend less than you make 2) Invest your savings prudently in stock or bond funds. The breakdown of this portfolio should be based on your time horizon. 3) Ignore the noise (like, What your friends and brother-in-law are doing) 4) Stick with your strategy over the long-term.
Homing in on just a few items on which to focus your attention can lead to big results over time.