Every New Year, millions of individuals make resolutions to lose weight or get healthy, save money or pay off debt, quit smoking or drinking, all in the hopes of becoming better versions of themselves.
However, most people forsake their New Year’s resolutions within only a few months. This has become so common that the second Friday in January is now dubbed “Quitter’s Day.”
Here are the top three New Year resolutions that fail:
Start a business or side hustle
If one has limited access to funds, it is easy to forget about the decision to start a business. Furthermore, Nigeria’s economic instability can have an impact on the profitability of a new business or side hustle. As a result, before incorporating a side hustle or business into your New Year’s resolutions, you should seek mentorship or conduct extensive study.
Spend more time with family and maintain work-life balance
While it is crucial to spend quality time with family and maintain a healthy work-life balance, financial demands necessitate lengthy working hours, and you may spend long hours in traffic, particularly in cities such as Lagos or Abuja.
Increase your savings or reduce your debt
This is another New Year’s resolution that fails by the first week of January. January is frequently regarded as the longest month of the year since too many financial commitments and celebrations over the twin holidays (Christmas and New Year) would have eaten deeply into one’s pocket, often resulting in borrowing if one is not frugal.
In addition, some property owners raise their rental rates at the start of the year. Family obligations, health concerns, and a lack of financial discipline may all have an impact on the New Year’s pledge to save more money and avoid debt.
