Financial goals, like any goals, are elusive for many people. If you have set financial goals in the past, at least you are in a special minority of people who have actually taken the time and energy to tackle thinking seriously about your goals. Yet, why do many of us fail at reaching our goals? The answer to that question is very complex. I will talk about what I see are some of the basics concepts that determine success or failure in reaching financial goals.
Any goal must be backed by commitment and a strong desire; this is the energy that is needed to carry you through the inevitable obstacles you will encounter on your journey to your goal. These obstacles are actually opportunities for learning; in each one there is a lesson.
" When you want what you've never had, you must do what you've never done." –Unknown
Setting goals may push you outside your comfort zone. This is good; that is a sign you are growing. A goal, therefore, must not be just a wish but something that you truly are serious about and are committed to. Many wish they had more money, or wish they had less debt, or wish they could take 4 weeks vacation every year. But we all know that wishing for something does not create results. We are all doing something every day, and, according to Brian Tracy, " If what you are doing is not moving you towards your goals, then it's moving you away from your goals. to your goals. There are teachers / educators that can help empower you to change your belief systems and harness the power of your mind that I have benefited from.
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.
The trick to reaching goals is setting your goals correctly. Your goal must be measurable so that a third party could read your goal and determine if it met or not. For example, let's take this goal:
"I want to increase my income in 2 years."
This measurable in time but not in amount. The goal needs to be something like:
"I want to increase my net income by $ 25,000 in 2 years."
So what is next after if you have properly defined your goal? You need to write down your goal. Be as specific and detailed as possible. Another effective tool is to invoke as many senses as possible in the word of your goal. If your goal is to have a home at the beach, then ask "where exactly where is the home ?," "what does the home look like?", "Can you smell the ocean?", "Can you feel the ocean breeze on your face? You need to read your goal as frequently as possible; once a day would be desirable.
Once your have clearly clear your goal and have written it down, you need to develop some strategies for achieving that goal. Break down your timeline into manageable chunks; these could be weeks, months, quarters, years. Set smaller goals for these smaller time periods and set up actions plans for these. The strategies should be broken down so that you are taking some action every day to move you closer to your goal. Think of the paradigm:
Decision + Action = Results
Taking consistent action every day will move you closer to your goal.
In essence, if we want to direct our lives, we must take control of our consistent actions.
It's not what we do once in a while that shapes our lives, but what we do consistently.
– Tony Robbins
Think about taking consistent daily action like the miracle of compounding interest. Your daily actions may seem small, but over time they build significantly. As you reach your various intermediate goals, measure your progress. You may find that you need to change your daily actions or even re-set your goal. Its OK to change your goals. You are a different person today than you were a year ago: your goals may have changed as well.