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Plan Well, Retire Well

Saving and investing your money
set goals

Tips to Stick with Your New Year's Resolutions

I'm always looking for ways to stay motivated and on track with my New Year's Resolutions. If you are too, you may want to visit Research by behavioral economists at Yale led to this free website and its unique characteristic: users have the option to back up their resolution with money. Research has shown that people are three times more likely to achieve a goal if they risk losing money.

Intrigued? This is how the website works. First, you set your goal or resolution and choose friends to be supporters. (You can also choose website users with a similar goal to support your efforts.) Next, you have the option to back-up your resolution with money. Users agree to track their progress weekly; if weekly goals are not met then the user's credit card is charged. Users can choose whether a friend receives their money or a charity or an "anticharity." An anticharity is a charity or political group you typically would not want to support. Now that's motivation to succeed!

This week I had the pleasure to be on WILL am 580 Radio's Focus show with Jordan Goldberg, CEO and founder of We talked about how to set goals and a variety of tips to keep on track. The broadcast is available to listen to online or to download as a mp3 at WILL am 580 Focus.

And, I'd love to hear from you! What tips do you have to share that help you stay on track with New Year's Resolutions?

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