MANSFIELD – At the turn of the new year, many likely resolved to “lose weight” or to “get out of debt,” and by February or March, many will have already given up.
Year after year, often unattainable goals remain high on lists of “most popular resolutions,” so to help you keep your 2018 resolutions, we’ve reached out to some area experts to talk about fitness – the physical and the financial kind.
Hopefully, with their advice, you can get on your way to an all-around better new year.
STAYING PHYSICALLY FIT
President of the Mansfield YMCA, Cristen Gilbert, has consistently seen surges in Y-membership purchases at the start of the year.
She estimates a noteworthy 75 percent retention rate, but says the number of people at the gym often drops a few months later, which may be partly due to warmer weather.
“Everybody looks at the new year as a chance for a new beginning,” Gilbert said.
But sticking to unrealistic resolutions isn’t easy. Instead of setting goals to “lose weight” or “stay fit,” Gilbert recommends that people aim to “be healthy.”
“It starts with the mindset of being healthy. It’s not about going on a treadmill and trying to lose 20 pounds in 30 days,” she said. “I think if you put the healthy mindset first, you have a better chance of achieving your resolution.”
A healthy mindset includes working out, but it also includes eating well-balanced meals, drinking enough water and getting enough sleep.
Gilbert says building relationships is key to this.
“We have the staff and membership to do that,” she said. “That’s what sets us apart. Because we are there to help you reach your goals.”
Until January 15, the Mansfield YMCA is waiving its “joiners fee.” And financial assistance is available, too.
STAYING FINANCIALLY FIT
As some people flock to the gym at the start of 2018, many more will also visit with their financial representatives.
But this might be more directly connected to the upcoming tax season than the new year, according to several Richland County financial planners.
“I think that there’s no better time than when you’ve got all your financial statements and everything together for tax preparation,” said Dakota Durbin of Mechanics Bank. “That’s the most difficult part when you’re trying to budget, and at tax time, you’re forced to get it together.”
Durbin says establishing a decent savings account should be a priority for everyone. And in many cases, this should precede paying the common resolution to “get out of debt,” which might seem so insurmountable that people become discouraged early on.
“If you were to come into any hard times, it won’t matter how much you’ve paid off your loans because you can’t get that money back,” Durbin said.
He suggested establishing a budget and monitoring spending by using a Microsoft Excel document or the free app Mint: Personal Finance & Money. Automatic transfers can also be helpful when it comes to saving.
“An easy way to build up your savings is to use automatic transfers from your accounts,” Durbin said. “Usually, if it comes out automatically, you don’t miss it, and you build up your savings without even noticing.”
Richland Bank assistant vice president and mortgage lender Ryan Smith often works with people who are saving to make big purchases like houses or cars. He encourages them to look at the big picture first.
“Just set that number, that goal of what you want your savings account to look like, and break that down month by month,” he said. “The key is to not spend beyond your means.”
Lauren Brown, a financial representative with Modern Woodmen, added that saving even the smallest amount makes a difference.
“People sometimes think they can’t save enough for it to be impactful, but even if it’s a very small amount, it’s important to start to save something,” she said.
Brown also sees the new year as an opportunity to look at retirement. She encourages people of all ages to reach out about this. Through what she called the “time power of money,” people can save more.
“The biggest piece of advice I have for people is to seek advice, so you know what’s out there for you and you educate yourself,” she said.
