New year, new me and all that…

This year I decided to do a ‘semi-dry’ January.  I’m not one for resolutions usually, but after a Christmas spent both in London and Manchester filled with seeing lots of friends and family, there was a fair amount of celebratory gatherings I was a part of, and it would be nice to start the year feeling lighter both mentally and physically (as well as saving a bit of money this month!).

When it comes to changing habits, I’ve learnt that stopping anything abruptly and going ‘cold-turkey’ never works for me.  It always feels like I’m punishing myself when I’m effectively trying to ‘better’ myself, which makes no sense at all.  If I want to cut down on something, weening myself off is the most doable (for me at least).

That being said, by the second half of 2022 I was putting away larger amounts into my savings than usual. I had set myself a realistic goal, and even with all the fun winter festivities going on, I’m proud I kept at it.  I’d be lying however, if I didn’t acknowledge that I did feel some guilt and a little sadness by doing it. I like to splurge on my loved ones, and I’m annoyingly a ‘yes person’ especially when it comes to an event that involves all my friends. But this Christmas … I resisted. I stuck to my budget on how much I’d spend on each person and I didn’t waver, I turned down (a few) more excessive meals or theatre shows, and I prioritised what was most important.

As someone who’s not a great saver, this is all a pretty huge deal, and I have no regrets on sticking to my guns. I won’t hide the fact that compromising my lifestyle can sometimes be harder than I would like.  Of course I could make it easier by putting away less, but knowing that my future self will be in a better position has made the compromises a positive move. I hope I’ll feel the same in February after I’ve had fewer gins and tonic.

I value and respect those who are honest about their experiences when it comes to compromising, as we all do it often in life (in our relationships, our finances, our work etc). It’s making sure that these compromises are worth the long-term goal. If they’re not, a readjustment is needed. This is why here at Solomon’s we strive to ensure that our clients feel comfortable and positive in long-term planning, because the fruits of the compromise can be golden.

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk