(The Root) — Many people start out the new year with the best of intentions — getting out of debt, saving for a rainy day — but find themselves failing before they even begin. During the Monday, Dec. 17, webcast of The Root Live — an episode dedicated to achieving prosperity in 2013 — Washington Post columnist Michelle Singletary explained where to begin.

"The number one thing that stands in people's way is having a sense of entitlement," she said. "People feel entitled to a lot of things that they really don't have the money for and can't afford."

Hear more of Singletary's advice below, and watch the entire archived webcast here