Setting Goals

Without winning the lottery, it’s really tough to become rich overnight. That’s why it’s important to set goals. Setting goals gives you a direction for your life, so you avoid wasting any time—nobody likes wasting time!

Setting goals is like providing yourself with a roadmap for life. By sticking to your map, you won’t get lost. Be sure you are setting attainable goals for yourself. They should be high enough to be a challenge, but not impossible. Anita DeFrantz says it well when she says “Your goal should be out of reach but not out of sight.” Here are some tips to setting and achieving your goals.

First, make sure that your goals are measurable. Your goal should have some kind of tangible parameter to it, so you know that you have achieved it. For example, setting a goal like, “I want to be rich” has no real tangible or measurable qualities. What is rich? Set an amount and be specific. Instead, say “I want to earn over $100,000 a year.”

Part of making your goals measurable is assigning a time frame or deadline to your goals. In order to feel the pride of achieving your goal, set a time for it to be accomplished. For example, “I want to earn over $100,000 a year by the time I’m 35.” Without a time frame, your goals are just dreams. Take those necessary steps to make them a reality.

Be sure to make financial and savings goals in order to manage your finances throughout your life. Mismanagement of finances is a common cause of stress, a major cause of bankruptcy, the number one factor leading to divorce, and a prevalent factor in suicide. Take your finances seriously and set some goals to keep your finances and your life on track.

Once you’ve established your goals, you need to create a plan to achieve them. Now that you have the destination set, you get to plan the route you will take to get you there. Identify each step you will need to take to get you there and start taking the very first step, even if it’s just a baby step, as soon as possible.

So what happens if you’re working towards your goals and something else comes up or you begin to doubt whether or not you can actually achieve your goal?  People change and life happens. It is ok to slightly adjust your goals or to adjust your steps to reaching your goals. Just be sure you are not changing them for the wrong reasons! If you’re changing them because you’re a wimp and you don’t want to put in the hard work it will take to reach your goals, then you do NOT have a good reason to change them. Your likelihood of reaching any goal is in jeopardy, if this is the case. It’s like trying to swim without getting wet. In the words of Marcus Washling, “Those on top of the mountain didn’t fall there.” Reaching your goals, especially your extreme goals, is going to take hard work, patience, and perseverance. Training your mind to expect that is one of the first steps towards achieving your goals.

Write down your goals! Writing down your goals is a key step towards achieving them! A Harvard study showed that out of their graduating students in 1979, only 3% had clear written goals and plans of action to accomplish them. 10 years down the road, these 3% were, on average, earning 10 times as much as the other 97% of their graduating classmates. Wow! Writing down your goals shows commitment and determination; two key factors to achieving any goal. “But, I have it too hard. I have no skills, no money, no education, etc. I can’t set and achieve goals… I’ll just fail.”  No Excuses! A lot of famous people have overcome some incredible obstacles and made their goals happen. They had determination and goals.

Set your goals high and start taking steps towards achieving them today! You can do it! If you have any questions or would like to speak with someone about your financial goals, come on down to one of our branches or give us a call. One of our friendly Member service representatives would be more than happy to help you plan your path to success!