Improving finances is a common resolution for the New Year. In 2023, 53% of Americans who set resolutions wanted to prioritize getting their finances in order. While that figure has dropped to 38% for 2024, it is still the second-most popular resolution after improving fitness.
Most goal-setting advice asks you to create a measurable goal with a specific time frame for the outcome. For example, a typical resolution might sound like this: I will pay off my $8,750 in credit card debt by the end of this year.
Habit and productivity expert James Clear offers a solution to this common goal-setting problem. Instead of creating a measurable goal with a specific time frame, Clear recommends creating identity-based habits in order to meet your goals. When you have an identity-based habit, you start by deciding what kind of person you want to be instead of starting with the outcome you want to reach.
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