How To Make Your New Year's Resolutions Stick
Only 8% of New Years resolutions stick.
Confession: For years, I was a frustrated member of the 92%. And you probably know exactly how it feels on New Years Day to set a resolution to break your bad habit. Or maybe the first of each month. Or maybe every Monday.
I experienced the unfortunate cycle of quitting and “failing” to quit for years when it came to smoking cigarettes.
What made the difference? Well, I applied my knowledge about human behavior and the brain to myself and changed my approach for good. Here’s some insights to help you make 2018 your best year yet.
Fighting against Habit
To make a resolution stick you have to change. For the brain, change is danger. Change requires neural rewiring and that creates discomfort. Even the prospect of change can create significant psychological discomfort.
The effort to abstain from bad habits compels you to do them more because abstention feels bad. Ergo, you will fight to feel good.
Smoking, laziness, boredom, compulsive eating, overspending - these are all default behaviors based on habitual brain wiring to give you what will make you feel good.
To change we need to create new ways of thinking which trigger new neural pathways, which lead to new default modes of behavior.
With deliberate effort new habits become the default schema for your brain.
Reframe the challenge into something you GAIN.
- I need to lose weight = I want to gain strength, endurance and flexibility.
- I need to quit smoking = I want to run three miles without wheezing.
- I need to stop overspending = I want financial flexibility and freedom.
To learn is to be human.
We begin to learn from the minute we are born.
Therefore, challenging yourself to learn something new flows with the grain of human nature; challenging yourself to lose something you like goes against human nature. Use the word “learn” to counter the effects of the stop language of resolutions. You are not quitting smoking, you are learning how to be a non-smoker.
The Neuroscience Behind Habits
Habits live in the most stubborn of our brain structures: the basal ganglia. The basal ganglia stores useful skills and habits: putting our socks on before our shoes or effortlessly driving our usual route to work.
The basal ganglia can also be a curse: it can cause you to habitually drive home from work along your normal route when you had meant to stop at the grocery store. It contains all of the skills and memories we need to function on a daily basis but could also potentially contribute to keeping you in a rut.
To learn to tie your shoes takes a tremendous amount of initial brainpower, but once learned it consumes very little. As we master these small routines, dopamine rewards us with feelings of pleasure. So we are perpetually rewarded for maintaining our habits, good and bad alike.
When you try to change a habit you activate the prefrontal cortex, a very active part of the brain that helps us focus our thoughts; this requires a lot of conscious mental energy.
The prefrontal cortex is connected to the emotional center of our brain. A firestorm of emotions (fear, anger, depression, fatigue, anxiety, etc) is triggered when the brain senses change. When you think, “I want to change this habit” your brain kicks into protection mode and tries to fiercely protect the habits it has grown to love.
Hopefully this insight will help you if you wake up in February and you haven’t made any progress into your resolutions.
Instead of giving up completely, figure out what you really want to do differently. Frame the goal into something that you are gaining (vs. losing) and learning (vs. stopping).
Respect your brain. It will need some time to incorporate the new behavior into your life.
Most Read IRIS Articles of the Week: Feb 19-23
Here’s a look at the Top 11 Most Viewed Articles of the Week on IRIS.xyz, Feb 19-23, 2018
Click the headline to read the full article. Enjoy!
I’d like to introduce you to Peggy. Born in 1956, Peggy will be 62 in 2018. She has worked in retail her whole life, the past twenty-five years spent in management. Peggy divorced from her husband 14 years ago, is still single and has no children. — Dana Anspach
This week the markets shrugged off last week’s fears and went back to the slow and steady melt up, despite economic news that looked likely to once again rock the boat. — Lenore Elle Hawkins
Themes established in 2017 across a wide range of markets and factors continued to resonate through the fourth quarter. Economic growth was strong and supportive of equity markets across the globe, a range of volatility measures reached all-time lows, and business and consumer sentiment remained elevated. — Yazann Romahi and Garrett Norman
Advisors and investors that feel they are hearing more and more about commodities and the corresponding exchange traded products in recent months are right. That is a natural result of dollar weakness and yes, the greenback is floundering again in 2018. — Tom Lydon
As the industry works to cope with new regulation, wades through an outpouring of new products, learns to satisfy investors’ shifting priorities and manages the active-passive debate, the viability of business units will be questioned, and at times radical measures will be taken. — Peter Hopkins
My hope is that this article points out some opportunities for you to make more money and serve your clients at a higher level and that you decide to do something about it. — Bill Bachrach
Whether the market is flying high or taunting your emotions with new lows and some bumpy volatility, here are four things every investor should keep in mind ... — Lauren Klein
Why financial advisors NEED to understand much more clearly the power of good digital market. With tools like AdvisorStream, it’s easier than ever to get the content you need to drive leads and referrals today! — Kirk Lowe and Matt Halloran
How do some firms and ideas go from nowhere to everywhere in a few short months? All of a sudden a restaurant becomes popular, a gas station gains a cult following, or a Broadway show becomes too popular to get a ticket for years. — Maribeth Kuzmeski
"Worldwide, $27.4 billion poured into fintech startups in 2017, Accenture reports, up 18% from 2016. With so much in play, it’s not surprising that 22 companies are new on this, the third edition of our list." — Chris Skinner
Many sensational headlines have been written the past few weeks about market declines, but two things have increased for sure: the viewership and the ad revenues of financial media organizations — Preston McSwain
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