“Have you made any new year resolutions about your finances? Is this a good idea?”

Yes and, um … no. Well, yes. But not really.

New Year’s Eve is a stupid time to make resolutions. For a start, nobody should promise anything when they were as drunk as I was. How would you remember them? If you could, do you wish someone had gaffer taped your mouth shut?

The biggest problem is they set people up for failure. Any other day of the year would be better. How about today? The year’s still sort of new. (And the hangover’s gone.)

My resolutions?

Manage the monster mortgage. Like many others with young kids, last year we sold the pre-kids yuppie terrace and upgraded to backyard-with-trampoline.

We’ve got to get ahead on the mortgage, which feels as painful as the first mortgage was (except multiples the size). And just like the last one, it will take years of overpayments to make much of a difference. Like Sandman, “I choose to start that journey … now”.

My superannuation needs some work. It’s not a disaster zone. It’s just a bit underdone – the current investments need some beefing up and I’ve got to make more contributions.

It doesn’t need to be as sexy as Elle in her 80s heyday (not that’s she’s shabby now). But it needs some makeup, like Molly Ringwald. I will sort it by the end of April.

Continual financial improvement doesn’t come without hard work and “delayed gratification”. Come on, you’ve got five minutes. Grab a piece of paper and write yourself an achievable money goal/promise for the year. Now, how are you going to get there?

Bruce Brammall is the author of Debt Man Walking (www.debtman.com.au) and a licensed financial adviser.