Goal-setting is something that has been talked about on the blog before. It may appear to be a bit of an odd tip as it pertains to amassing your personal wealth, but there is something to be said for the sense of excitement you feel when you create meaningful objectives for yourself.
I don’t know why, but it has long been held that only a small percentage of people actually commit their goals to paper. There are many studies showing that writing down your goals will increase your chances of achieving them, so if you are serious about working towards your financial goals, you may want to start cultivating the habit. It will serve you well throughout your life.
Whether you are in the process of writing down your goals or you are already working towards them, beware of perfectionism. It’s the extra productivity that you’re after. It’s the sense of excitement that you’re after. It’s all about the extra rep you make when you are beyond the point of exhaustion. Motivating goals will help you to make that extra push.
If your goals aren’t motivating, you know that you haven’t hit upon anything that matters to you. Maybe you’re trying to mould yourself into the person that you think others think you should be. Maybe you’re afraid of what it will mean to commit to what you actually want.
Ultimately, goals are worthless if they don’t mean anything to you. If they don’t give you a reason to stretch a little, you’re probably on the wrong track.
Don’t overwhelm yourself at first; start with a single, achievable goal. As you complete one goal, set a bigger one. Gain some momentum in your goal setting and getting before making a long list of everything you hope to see, do and have in your lifetime.
What’s one thing you could be doing every day to improve your finances? Is it paying off your debt? Is it keeping an eye on your bank account? Is it making up a ledger to track your spending? I’m sure you can think of something that would give you a greater sense of control over your finances.
Get specific in your goal-setting. If you want to earn $100,000 in the next year, assign every dollar to a specific area of spending now, as if you already had the money. You need to have a compelling reason for earning that amount. It can’t be just because. If you know why you want and need that money, it will increase your chances of getting it.