goal setting

The Importance of Goal Setting

This one step – choosing a goal and sticking to it – changes everything.

Scott Reed

Goal setting has become very popular and more people are using it as a strategy to get a clearer vision of what it is that they want. And honestly, sometimes people don’t even know what they want. There are people going through life never really aiming for something or never trying to achieve a higher purpose. Personally, I think setting goals is not only important to set eyes on the prize, but also to obtain fulfillment.

Goal setting can be done in many ways. It can be in writing, it can be drawn and it can be portrayed with pictures.
Essentially your goals can relate to many areas in your life, such as health, fitness, diet, certain habits or skills, materialistic items (like that really nice car), traveling, or finances. The latter is what we will focus on.

Setting financial goals is the place to start if you want to obtain financial stability or financial freedom for a number of reasons. In this article I’ll go into detail about how to set goals.

Writing it down is the first step to goal setting

Assuming you pretty much know what you want, the first step to goal setting is to write your goals down. As silly as it may sound, writing down your goals is needed so you’ll remember them. They are valuable enough for you to direct your time and energy toward, so you should at least log them. When written down, you’ll see that it will be much easier to focus on your goals.

But writing down your goals is trickier than it seems. You wouldn’t want to write down something like “I want to be financially stable in 2022”. A goal like this will be completely useless. An essential thing to remember when you are writing down your goals is to be as specific as possible.

Let’s look at our first example again, but now we will write it down much more specifically. Let’s add some numbers and a more precise date.
“Over the next 24 months I will set aside 40% of my monthly income of $2,500 and I will put this into an investment that will make me at least 4% profit a year, so I will have $25,459 to give me a sense of financial stability by December 31st 2021.”
Now you have set a great goal, with a plan attached to it.

Frame it

Once you’ve written down your goals, the next thing to do is to put them somewhere in sight. You don’t have to literally put them in a frame, but it is important to see and read your goals on a daily basis and have them draw your attention in one way or another.

I personally like to have my goals somewhere I can see them as soon as I wake up. That could be on the mirror in the bathroom or on my wall next to the bed. When you see your goals in the morning, you’ll be more likely to dedicate at least one thing during the day to your goals. Reading your goals in the morning will launch you into action, no matter how big or small it may seem.

Share your goals

Another important step to goal setting is to find someone you love and trust to share your goals with. This can be anyone from your girlfriend/boyfriend to your best friend, brother or sister or your parents. I prefer to share my goals with someone whom I know will not only support me and be excited for me, but also shares my values and has a similar mindset.

This is essential for me, because it will be easier for them to understand my vision and see the possibilities and opportunities, instead of telling me it will be impossible to do. You should figure out for yourself who these people are, and then share your goals with them.

After sharing your goals, ask them to hold you accountable to it. What does that mean? Basically it means that they will regularly check up on you to see if you are putting in the work in order to achieve the goal. You can also agree that you send them a weekly update which will entail the action that you have taken throughout the week.

Now you have someone, other than yourself, whom you owe responsibility to and it will raise the pressure as well as the likelihood that you will stick to your goals.

Review & Evaluate

Reviewing your goals is also crucial step of goal setting, because you always want to make sure that your goals align with your values and beliefs. It’s best to review them at least once a year. Maybe there are adjustments to be made or your goal might not seem realistic or relevant anymore. This can definitely happen as our visions might change over the course of a year.

Besides reviewing my goals, I also take the time to evaluate. I like to do this every 3 months to see if I’m going into the right direction. I evaluate by asking myself some of the following questions:

– Have I done enough this past few months?
– What did I do great in order to work towards my goals?
– Why is it that I am not on track?
– What should I change the upcoming few months?

So on and so forth. Ask yourself the right questions and if this is a difficult thing for you to do, ask the person who held you accountable for help.

Whenever you feel like you are unable to commit to a goal or to focus, this might be a sign that you need to rewrite it. You do not have to wait till when you are officially reviewing your goals, because the sooner you find out it isn’t working, the better. The last thing you want is to spend time and energy on something that does not align with your values.

Have you set your goals for the upcoming year already? I know it is February already (at time of writing) but you do not have to wait till the new year comes around again. You can write your goals for February to February, or for less than 12 months. Or they can be long term goals. Whatever they are, waiting for ‘the perfect time’ to start jotting down your goals is only an excuse not having to commit to change or putting in the work.

So my question to you: Do you have your goals in writing?

Lots of love,

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