Episode 7 | New Years Eve - Kickstart Your Best Financial Year Yet
In this special New Year’s Eve episode of Enrich Wealth, brought to you Strategem and hosted by Kris Tatt, unpack actionable strategies to set you up for financial success in 2025.
From reflecting on 2024’s wins and lessons to identifying key opportunities for growth in the coming year, this episode is your guide to building wealth with intention.
Discover practical tools, mindset shifts, and tips for creating momentum that lasts. Whether you're an entrepreneur, investor, or simply focused on improving your finances, this conversation will inspire you to make 2025 your wealthiest year yet.
Transcript
Kris Tatt
Well, welcome back to another episode of the Stratagem Enriched Wealth podcast.
We're excited to come to you in the new year of 2025.
It is exciting to be here.
I can't believe that it has been five years since 2020.
It's been five years since we started lockdowns and everything else.
What I'm also actually a little bit scared about, but really excited about is that we have five years until it's 2030.
And So what are we going to do?
We're halfway through the decade, halfway through the 20s.
What are we going to do before we get to the 30s as well?
And so today, with that theme in mind of thinking ahead, thinking of where we're going, it's the new year.
Of course we're going to be talking about resolutions.
Of course we're going to be talking about your New Year's resolutions.
But what I want to do is make sure that when we're thinking about resolutions, we're thinking about ones that we actually stick with for the year.
So we're when we get to the end of the year and we self reflect, like we talked about last episode on the importance of self reflection, we actually look at what we were able to achieve, look at what we were able to get done.
And so we, I want to talk today about setting great New Year's resolutions, ones that will stick at ones that will actually make a lasting impact on your life.
Because if you want to change your financial position, if you want to get to your financial goals, things will need to change.
If you have already got everything set and everything running great, you know what, just hit pause, turn it off, go find something else to do.
If you've got everything sorted, just go ahead.
That's fine.
If you don't have everything sorted out, stick around.
Because what we want to do is make sure that we are putting ourselves in the best position for success, not the worst position for success or not rolling the dice and hoping that we get a six.
What we want to do is actually make sure that we are putting things in place so that we can hit our goals and we are successful.
So New Year's resolutions, why don't they work?
I'm going to be honest with you and say they might not work because the new year is actually not as significant as we always think.
In our head, we think it's this new year, it's this really significant thing.
But we still wake up in the morning, we still eat food, we still drink, we still have the same family.
We still, there's all these things that are still the same even though it's a new year.
So it is the mindset that we are bringing into the new year that's actually important.
It's not that it's this this special marking of anything.
The sun doesn't stay up for 24 hours to mark that it's a new year.
Nothing else really happens other than we know that it's a new year and our phone tells us and our kids probably wake us up too early when we've been up late the night before bringing in the new year.
So what, what is it for us that is different?
It's that we have the mindset that it's different.
But to make that lasting change, we also have to bring in behavioural change.
We have to make sure that if we're setting New Year's resolutions, they are ones that we can keep.
So how do we make them stick?
I'm going to use, I'm going to use a pretty generic example of getting healthy because a lot of people I'm sure may have that on that list, especially as you come out of the haze of eating too much over the, the Christmas period, you sort of feel, oh, I need to make a change.
And obviously it's, it's probably not normal, but it is, It is usually a time of excess, too much sugar, too much, too much food, too much roast meat.
I, I love, I love bitter roast pork, love bitter roast beef.
So that's, that's probably 1 for me and the roast chicken and the roast Turkey of the, there's, there's four there.
But, but what, what are we actually going to do when we set these new New Year's resolutions to make them stick?
And so if I use the example of, of getting healthy, what, what's, what does that actually mean?
If I get to the end of the year, how do I know that I got healthier?
How do I know that I got better at what I was doing?
So what we need to do is make it clear on what it means to be healthy.
So is it a weight rating?
Is it a waist size measuring?
Is it a heart rate check?
Is it, is it a go to the doctor and get some markers set out so you know what the year looks like, What is it that's actually going to mean that you're successful in that.
And so if you're not clear in setting out your resolution on what success looks like, then you will not be clear on whether you are heading towards it, whether you've reached it or exceeded it, or whether you are falling backwards away from that resolution or that goal that you've set.
And we talk a lot about this in our goal setting episode, the first one where we talk about the importance of the actual activity behind the goal and making sure that we're doing the right activity.
So go and have a look at that one if you want to think more about or what do I need to do around the activities.
But one is we have to make it really clear and we're actually going to have a PDF in the show notes around it so that you can sort of set out your goals and in your resolutions for the year.
So call them goals, call them resolutions, call them changes, whatever you want to call them.
What what is it?
How are we going to set them out clearly so that we know that this is what we want and this is what we're heading towards.
If we want to make the business better, for example, how do we know that we're making the business better?
What are the markers?
What are the ratios that we're using?
What are the metrics that we're going to measure to say at the end of the year that it's better?
Is it just profitability or is it time back?
Is it satisfaction in getting, getting to work in the morning or, or, or conducting yourself?
Is it the quality of the work and things like that?
So what are what are these markers that we're going to use?
So when you're setting your resolution, make it really clear on what it means for that resolution, what it means.
So what is it and, and what are the markers of success?
How do I know that I've achieved this or I'm on my way to achieving it?
Secondly, if you're going to set a resolution, you're going to set a goal, make it aspirational.
If you set a really boring goal or a really small goal, it's not one that you'll get excited about.
And so you'll look at it and just go, yeah, we could probably do that.
Set one that's aspirational, that drives some change, that makes you get out to do it.
Because if it's not aspirational, it's not going to be one that gets you up in the morning or actually makes you want to change.
You'll default back to what you were doing.
So make it something that's tangible.
Make it something that is bigger than yourself or something that's a little bit further than you think.
Oh, is that possible?
It's amazing what is actually possible in 12 months.
But we don't always, we aren't always aspirational in what we said.
And and that's why we also need the market success because if we get 90% of the way towards an aspirational goal, it's a lot better than just phoning in or just achieving a boring or not something that's really going to take us to the next level.
So make it aspirational, make it motivating to get you out and to get you to do it.
And then make it important and personal.
What I mean by this is if I use that throwaway resolution of get healthy, get healthy is such a big random thing that what does it, what does it actually mean?
What does get healthy for you mean?
And so actually write down and make it really personal and make it important.
And what I mean by important is make it important to you.
So right, Actually, why is this important to me?
Why do I want to do this?
And coming back to that when things are tough or coming back to that when you've feeling a bit despondent really helps to remind you and motivate your mire doing it.
Because so often we just say it as a throwaway resolution that at the end of the day, it, it either means nothing to us or it's just something nice.
It's a platitude.
You feel like that's what you should be doing.
Make it something that's really personal to you, whatever that is.
If, if it's a career resolution, if it's a business resolution, what is it that's actually yours and important to you?
And, and it's not for anyone else and it's not to make anyone else happy.
It's for you and how you how you respond, because then if it's for you and it's personal, you will actually go out and, and it will mean more to you and you'll actually want to do it.
Where if it's just a yeah, that's a nice thing.
I just wanted to have more money at the end of the year.
Well, that's nice.
But what was it actually?
Why is that important to you?
Why is it, you know, make it personal to you.
And then that will help drive what you need to do around it.
And it'll also help really resonate with you when you reach it because there'll be a real sense of accomplishment because it was yours and you took it and you did it and you achieved it.
And So what that will then do is continue to power on that process of snowballing results, snowballing your activities, snowballing your behaviours to the improvements that you want.
And that's how we see greater and greater success in there.
So those are the things and even write down what do you need to do what, what do you need to set up for success?
So is there education that you need?
Like if you're going to get healthy, is there 5 recipes that you need to know off the top of your head so you can throw them a meal together at any point in time that's healthy, that's quick and easy so that you don't default to the junk food or whatever's in the cupboard, but you're actually making, you're actually giving yourself the best shot at it.
Because so often we, we forget about those other bits.
And I know this sounds like, oh, this is, you've made my New Year's resolution list a lot harder because it's not just a list, it's a list with why it's important to me.
What, what do I need to do to hit it to make it successful?
But if you actually want to make resolutions that lasts, then you need to go that next level with it.
You need to actually take it further and get serious about it to make it what, what, what is actually going to be something that drives change and that you actually get to see results on the second part of the New Year's resolutions.
And this one is a little bit scary because a lot of times we hear this word and we think, oh, oh, that's going to create friction or disappointment or oh, I don't, I don't, I don't know about that.
That's, that's not me.
That's not what I am.
And that word is no.
And I'm gonna put it around boundaries.
What?
What do we need to say no to to help us reach our goals?
Because we've just added three things into our world in setting these resolutions, setting these goals for the year, What are what are the things that we need to remove or say no to, to allow them one, to fit, but also to to make sure that we've got the focus we need for it.
There are so many distractions in our world that it's not about saying yes all the time, but it's about what we say no to.
And if we're really clear on our resolutions, if we're really clear on those things that we want to do, then we will know the things that we need to say yes to because they will align to those resolutions.
We know that we want to that will want to say yes to go out and try a healthy restaurant or go out and try a new recipe.
If we're getting healthy, I will add this new ingredient that's that's an easy yes.
What might be a no is heading, heading somewhere where we know we are going to eat poorly or that we're going to make bad decisions or that we're going to spend money that we didn't need to because it's not actually going to help us reach our financial goals.
So what are the things that we're going to say no to this year?
What are the things that we're going to strip out, remove so that we can say yes to those things that we've said are important to us, those resolutions so that we do make the time, we do make the space, we do make the focus.
And I think focus is really important because there's so much that can distract us these days.
There are so many streaming services, there's so many apps on our phones.
There's so many things that we can go to and do and see.
And really that we are so pampered for choice that we get distracted by it.
And choice in and of itself becomes a daunting task because there's so many things that we could do.
And so we don't, we either don't do any of them and we just got, it's too hard.
We throw up our hands or we try and do all of them rather than being really selective and curating the things and activities that we do and being really intentional about our time.
So secondly, if we're thinking about resolutions, if we're thinking about how important it is to to achieve them, if you've taken the time to really write down and say this is what I want to do this year.
These are the things, these are the resolutions that I want to make in my life.
What are the things that we're going to take out so that we can actually reach those those resolutions, those those goals?
2025 is going to be a great year.
It is.
It is another 365 days that we have to move the needle in the direction that we want.
And it's our choice on where we want to go with this.
It's our choice on what we want to do with it.
It's our choice on what we say yes to and no to.
We've all actually got the same amount of time.
We've all got 365 days.
We've all got 8760 hours or a little over a half a million minutes is what we have.
And so if we're thinking about what are the things that we want to do with our time, what are the things that we want to do with, with our given without 24 hours a day at 365 days for this year, What, what are we going to do?
Because we all have access to that.
It's how we use it that really counts.
And so I want you to go out and be really intentional this year.
I want you to go out and think really hard about how you want to change yourself and what are those things that at the end of the year are going to really move the needle for you.
Some.
Sometimes we put New Year's resolutions because we think they're nice, but they're not actually personal important or something that's going to have a huge impact on us.
So what are those things that are going to have a real impact on your being on you as a person this year?
And it's could be personal things, it could be your career, your business, whatever that looks like.
What are those things that are going to change the game for you and what do you need to put in place to start working towards them?
Because so often, so often, we get distracted.
So often life comes and takes away from us and the things that we want to do and achieve that that we get that we get down on ourselves rather than get active in setting the boundaries that are required to carve out the time, carve out the space that we need for that.
So check out in the show notes, the New Year's resolution PDF that you can sit down and start to really plan this out on the back.
We'll also include a 12 month planner just so you've got a little bit of you can sort of map out your year as well.
And what are those things are important because so often if we do not book in life will book in around us.
And so we we need to make sure that we're carving out the holidays.
We're carving out all those bits and pieces that we need so that we can show up and be the best we can be, that we can give ourselves the best opportunity to reach our goals.
I wish everyone a really happy 2025.
I'm really excited about where we're going this year as a podcast.
I'm excited about the guests that we're going to have on I.
I think you're going to love hearing the stories, love hearing how they're, they're helping people in their world as well too, and how that might translate to you and your world or helping you in your financial journey as well too.
So here's to 2025.
Here's to a great year.
Here's to us all going out making New Year's resolutions that will stick and that we sit down at the end of this year and go what an amazing year we had.
We, I look forward to going on this journey with you, with you this year.
Thanks everyone.
