Each year, most of us set goals that are designed to fail. Why? Because “your ego is writing cheques that your body can’t cash” (Thanks Top Gun!). To make matters worse, this is usually the only time of year that we actually focus on goal setting, putting more pressure upon ourselves to succeed. It’s the “all or nothing” approach that often sees us failing before we’ve really started. January gym membership anyone?
So how did we get here? You made it through Yes-Ember (December means pretty much saying “yes” to everything) and you just survived the silly season.
Yes, you hosted Christmas lunch for 15 people – no worries. Yes, the fruit mince pies/chocolate/alcohol didn’t touch the sides. And Yes, drinking too much at your Christmas party and being a little “too honest” with your boss wasn’t such a good idea after all.
But here you are in January, possibly feeling a bit vulnerable, a bit overindulged and you’re thinking that you need to make some serious changes this year. Setting guilt-inducing goals like “lose weight to feel great” when you’re not really ready to take action, will just make you feel even worse. Save it for later in the year when you actually want to do it.
Over the last decade, I’ve helped so many clients set amazing and crazy goals. And guess what? They actually achieve them. How? They all used my simple top tips.
You can make 2018 your “Yes” year by changing your mindset from a “Gonna” to a “Doer”.
Step 1: List your goals – then cull half of them
Think about what you’d love to achieve this year – from lifestyle to career, to finances to family – quickly write them down.
How many did you get?
Most people will come up with about 6 goals. Anything over 10 goals and woohoo, that’s overwhelming!
Now put the list down and walk away. Pick it back up the next day and this time think about the goals that are the most important to you. Cut the rest out and put them on the back-burner for now. Hopefully you’ll have cut your list down by half to have your most meaningful goals to hand.
Step 2: Break each goal into small, digestible pieces
Take your final list and breakdown your goals by Priority, Time and Cost:
Now that your goals are clearer, achievable and more measurable, you’ll know exactly when you want to achieve your goal by and how much it will cost.
Now we can create an action plan that is suitable for you so you can save your butt off (if you need to) and make this goal your reality.
Using the example above, let’s break this goal into smaller milestones. Looking at the 24 month timeframe to save $50k, this means saving around $2k a month. If saving $50k in 2 years seems daunting, then we know that the goalposts need to change such as lowering the $ figure or extending the time frame. This way you’ll set yourself up to actually achieve your goal.
Once you’ve got your monthly savings plan, each time you hit your target, give yourself a “High-Five” or break out the bubbles (prosecco please, we’re saving!).
Step 3: Set a routine, Keep Calm & Carry on
Humans. We’re a funny bunch. Most of us work better with a set routine. So now that you have a savings action plan, the next step is to set your routine so that you’ll be on track for success!
Put weekly reminders into your calendar to check your savings account, update your budget spreadsheet (to make sure you really know what’s happening with your finances) or use a budgeting app to help keep you focused to achieve your goals.
It might sound boring but seriously, it works! And your ‘set and forget’ plan will generally become routine after 28 days (which is also about the time your body adjusts from steak, back to 2-minute noodles – probably) then BOOM! You have your personalised savings plan that will lead you to success!
If you want to live life on your terms and master your goals, book in a free initial chat today and let’s get you started on the path to success!
General Advice Disclaimer
This blog contains general advice only. You need to consider with your financial planner, your investment objectives, financial situation and your particular needs prior to making any strategy or product decision. InterPrac Financial Planning Pty Ltd and its authorised representatives do not accept any liability for any errors or omissions of information supplied in this document except for liability under statute which cannot be excluded.