Be SMART About Your New Year's Resolution

More than half of all resolutions fail, but yours doesn't have to if you choose the right goal and set a realistic plan to achieve it. "SMART", coined by the journal Management Review, is a goal-setting acronym that can guide you to successfully accomplish your New Year’s resolution. It stands for Specific, Measurable, Achievable, Relevant and Time-bound:

Specific - Be clear and definitive. Instead of “I want to exercise more.”, your resolution should be “I want to run in the annual 5K in March.”

Measurable – Log your progress. If you want to lose 20 pounds, take a before picture of yourself. Continue to take photos along your journey to reinforce your progress until you reach your goal.

Achievable – Be realistic. We all would like save enough to retire early, but for most of us that won’t happen. However, saving $150 a month or cutting back on the morning latte are more attainable resolutions.

Relevant – Bring value to your life. Your resolution should be made for the right reasons and one that really matters to you.

Time-bound – Specify completion date. By saying "I will cut out french fries from my diet for 6 months.", your resolution becomes real, tangible and effective.