I hope everyone had a great Christmas. It is always hard to get back into a routine after a long break.

Here is another edition of Finance Friday. I hope you enjoy!

Quote I am pondering:

Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success – Pablo Picasso

As we go into the new year, and make resolutions for what we want to accomplish in 2019, it is very important we act vigorously once we make our plan.

Usually our goals are worthy but can we say the same thing about our actions?

Remember to not only set your goals, but also determine the habits that need to be implemented to make those goals come to fruition.

Stock Market Update:

I am not even sure what to say about this stock market anymore.

On Christmas eve we saw the worst stock market sell-off we have ever seen the day before Christmas.

Then, the day after Christmas we say the largest one day gain the market has ever seen – and not just for the day after Christmas, but ever.

Then on Thursday the market started the day negative again and was down as much as 650 points at its lowest.

Throughout the day the stock market went on to recover the full 650 points and ended up 260 points for the day.

In a normal market environment, it is not typical to have the market swing 900 points in one day. This, however, seems to be the new norm for this stock market.

Having two strong days would make one believe we are in the clear, but it seems unlikely this volatility is going to leave us anytime soon.

The next couple weeks will be telling with what 2019 may bring.

Finance Tip:

Isolate the largest obstacle you face with your finances and make that your main financial goal for 2019.

Don’t over complicate what you want to accomplish.

If you had to pick one element of your finances that is hurting you more than the others, what would it be?

Make this your focus for the coming year.

Once you have mastered that item set another goal and build on top of the first.

A common mistake is setting too many goals – this will usually cause more frustration than anything.

Instead focus all of your energy on one area and master that before preceding to your next goal.

Book I am Reading:

My wife was really good to me when it came to my wish list for books this Christmas.

I am going to first tackle Essentialism: The Disciplined pursuit of Less by Greg McKeown.

This book talks about how we must learn to live with less – and not just with material items.

Even taking on more than our time permits can impact our level of enjoyment in life.

I will give you more insight from this book as I progress further through it.

Interesting Topic:

New studies estimate that 80% of New Year’s resolutions are broken by the second week of February.

The three most common resolutions – per the YouGov poll – are eating healthier, getting more exercise, and saving more money.

I will publish a blog post on New Year’s morning that will talk about how to make your resolutions stick this coming year.

Thank you for reading. I hope you have a great New Year’s and a productive 2019.