How to Set Intentions for the Year That Will Make You Wealthy

With the new year quickly approaching, this is a great time to consider your goals for 2019.

With this in mind, have you ever considered setting intentions instead of resolutions for the new year? Intentions are anticipated outcomes. They help to guide your actions, both big and small throughout the year. Intentions also allow you to push yourself beyond simply thinking about desirable outcomes.

Want to learn more about intentions and how they can lead to personal growth and financial wealth? Read on to see how you can implement intentions into your life.

Resolutions versus intentions

Still confused about the difference between resolutions and intentions? To further explain, here are the definitions from Vocabulary.com:

Resolution: A decision to do something better or to behave in a certain manner.

Intention: An anticipated outcome that is intended or that guides your planned actions.

Based on these definitions, resolutions are based solely on desirable outcomes, while intentions use desirable outcomes to guide your actions. For instance, instead of setting a resolution, such as losing 10 pounds this year, you can set an intention to focus on your health. This intention, in turn, may result in you losing weight – maybe even 10 pounds. In a nutshell, intentions guide your actions, which may include committing to exercising, eating more wholesome foods, and focusing on self-care. See the difference?

Tips for setting intentions for the new year

Now that you know how intentions differ from resolutions, you can start to set them. Here are 6 tips to get started.

1. Split your life into categories

Not sure where to start? Consider focusing on an area of your life that you’d like to improve upon this year. Life categories are different for everyone, but some may include:

• Relationships
• Finances
• Career
• Personal Development
• Religion/Spirituality
• Health
• Personal Interest/Hobbies

2. Find your why

Next, pick one of the life categories above. It’s not enough to just say you want to improve something – you’ll have to discover what you’d like to improve and why.

So, say you want to improve your finances this year. Then ask yourself “why”? Take some time to really think about this. If you journal, you can even try writing out your answers.

Once you find your why, write it down and make it visible. This is the fuel that will drive you throughout the year, so refer back to it often to stay motivated.

3. Set goals

Let’s continue to use the example of improving your finances. Now it’s to time to break this down even further to consider what specific areas you want to improve upon. For instance, you may include outcomes such as:

• I want to pay off my debt
• I want to build my emergency fund
• I want to pay all of my bills on time

Now that you know what you want to do, you need to set SMART goals. SMART is an acronym that suggests goals that meet the following criteria:

• Specific
• Measurable
• Achievable
• Relevant
• Time bound

An example of a SMART goal would be to pay off $10,000 of student loans in 12 months. That goal is specific (it indicates what kind of debt you will pay off), measurable (it specifies how much debt), achievable (assuming you have some income this year), relevant (it provides results), and time bound (to be achieved within 12 months). Got it?

4. Break down your goals

Now that you have a SMART goal or two, break it down to determine what specific actions you must take every month, week, and even day in order to achieve your new year’s intention.

For instance, if you want to save $6,000 in an emergency fund this year, you will need to commit to saving at least $500 a month. That equals $125 a week, or about $17 a day. By doing this, you’re more likely to stay on track throughout the entire year.

5. Commit to rejuvenating yourself

You’ve been down this road before: You commit to a goal 100 percent, and then a few weeks later, you find yourself tired, bored and burned out.

If you can relate, you likely didn’t give yourself enough breaks. It’s hard work to achieve all your goals, so give yourself some rest!  Need some self-care tips? Check out this article from Psychology Today for a few ways to get started.

6. Create space

Having a hard time concentrating on your goals? Try creating space.

Creating space helps eliminate clutter. Whether it’s physical or emotional clutter, ridding yourself of it can only help clear your mind and surroundings to focus on what really matters.

With fewer distractions, you can focus on your intentions. You’ll be less likely to become run-down, give up or get distracted. To create space, Prevention Health suggests starting small. Even decluttering a single drawer can go a long way in reducing stress.

Take advantage of helpful tools

Whether your new year intention is to grow your finances or improve yourself in another way, Chime’s mobile wallet and money transfer features are here to help. By socking away your hard-earned dollars into a fee-free online savings account, you can watch your cash grow.

And just think: Saving more money allows you to more readily reach your financial intentions this year. Are you ready to make this year your best year?