Setting New Year’s Goals for a Positive Outlook in 2019

Christmas is nearly upon us and for most Australians it’s a time for celebration and a chance to relax with family and friends.

It’s also an occasion for giving and exchanging gifts. Giving gifts has been a Christmas tradition dating back as far as the early Romans who celebrated the Saturnalia festival in December. It was associated with the Winter Solstice, which was celebrated in December in the Northern Hemisphere, before evolving into Christianity and Christmas as we know it today.

Giving time and money to others, either through volunteering or charitable donations is another way that people embrace the meaning of Christmas.

It’s also a time for giving thanks, to look back on the year that has past and be thankful for things such as good health, family and home.

Christmas can also mean giving yourself time to reflect on what the New Year may bring. New resolutions are usually not far from everyone’s mind once the Christmas festiveness is over.

There’s nothing like a new year to help you take stock of where you’re going in life. In case you were wondering, the top 4 resolutions for 2018 were to:

• Improve fitness
• Eat better
• Quit smoking
• Quit drinking

Regardless of whether you’ve already got your New Year resolutions worked out, here are a few tips for getting the most out of 2019 and putting together a must-do list.

Set goals for the year

What are you hoping to achieve in 2019?

• Visit your dream destination?
• Start training for a new career?
• Improve health and fitness?
• Get married or start a family?
• Start that investment or savings plan?

It helps to put some structure around your goals to make them more achievable. Once you’ve drawn up your list of goals, be sure to set yourself targets and milestones to reach throughout the year to keep you on track.

Draw up a budget

When you’ve worked out your personal goals, you can draw up a budget to help make them happen. Make sure you’re realistic about your expenses, and what you’re willing to give up in order to meet your goals. Once you have your budget set, the most important thing to do is stick to it!

ASIC’s MoneySmart budget planner can help you set up your budget, and track your spending.

Lock in your holidays and look after your health

Looking after yourself throughout a busy working year is essential. Lock in your holidays in advance, so you can budget for them and make sure you’re getting enough R and R.

It’s important to try and maintain a healthy diet, and get regular exercise. The AIHW report, ‘Australia’s health 2018: in brief’ shows that many Australians are living with chronic health conditions linked to lifestyle factors such as obesity, lack of physical exercise, smoking and alcohol.

Work life balance should also be at the top of your list for the New Year to keep stress at bay.

Take out adequate protection

Whether you’re single, married, with a long term partner or about to start a family, it’s important to safeguard your finances while you’re working to meet your goals. One way you can do this is by life insurance.

If you already have Life insurance and Income Protection, the New Year is a good time to review it and ensure it still covers your mortgage and major cost of living expenses.

If you don’t have cover, there are a number of websites such as ASIC’s MoneySmart which provide details of what to look for when considering taking out cover. If you’re not sure how much cover you might need, you can use NobleOak’s award-winning Life insurance calculator. It only takes 5 to 10 minutes to complete and you’ll be sent a free personalised report.

Remember, that having adequate Life insurance in place can help reduce stress by giving you peace of mind that your family and lifestyle will be protected financially should something unexpected happen.

Sources:

https://en.wikipedia.org/wiki/Christmas_gift
https://www.aihw.gov.au/reports/australias-health/australias-health-2018-in-brief/contents/how-healthy-are-we