If we want to achieve financial success we need to identify what financial success looks like for YOU. Financial success to me will look differently than what it looks like to you. Everyone reading this blog will have different versions of success. The best way to achieve ANY version of success is to have goals… but not just the kind that you dream about. You need tangible goals that are written down and that have a plan to achieve them. It’s nice to dream about that gorgeous island with the white sand and the sun shining all day, but if you don’t know how to get there, you won’t ever get to feel the sun on your skin.
So tell me… what are YOUR goals? What do YOU want?
When I am setting goals with my clients, I like to have them come up with one or two goals that they can achieve within ONE year. It can be really draining when our goals are always long term. It’s important for us to see that our efforts are really working and it’s really easy to get discouraged if you don’t get a little thrill of success along the way. If you don’t have a goal that is short term, I want you to cut a bigger goal down. Here’s what I mean:
If you are saving to buy a house and you need $20,000 in three years, then you need to set a goal to accumulate $6666 in one year. I actually want you to save $7000 per year. I’ll tell you why in a sec. Break it down even further by putting that into a monthly goal. $20,000 in three years is $6666 per year, or $555.55 per month. Now, I bumped your goal up to $7000 annually, which is $583.33 monthly. Stay with me. You have to save $555.55 per month to achieve your three year goal for a down payment on a house. But I want you to put $583.33 into that account every month. I also recommend that you automate this transfer and make it as difficult as possible to withdraw the money (don’t put it in an account that has a debit card attached to it… make it so that you actually have to log into your bank to move the money.) Now, why did I ask you to deposit more than you need to achieve your goal? Because if the accomplishment of setting that money aside every month and visually seeing the number climb to achieve your goal isn’t enough… and you’re starting to feel discouraged… you can treat yourself. You have been putting just a little extra away ($27.78 monthly, to be exact) which can add up in a few months to a nice dinner out. Remember that if you do use this money for a morale booster to really think about your goal and congratulate yourself for working so hard to put that money aside. Use the extra treat money to realign your MINDSET with your goals. It’s a refreshing buffer.
“It can be really draining when our goals are all long term. We need quick wins to FEEL like our efforts are actually getting us somewhere.”
Lindsay Plumb, Founder of the Pretty Money Club
I LOVE to hear about goals. It’s always fun to hear what excites and inspires somebody else to make changes in their lives. And by sharing, we can inspire somebody else. Could you be the person to ignite a spark in someone else’s life? I’d love if you would share your money goals with my Facebook group.
And if you’re getting fired up thinking about your goals, but you’re not really sure how to start aligning your finances to achieve them, take my mindset quiz. When you get your score, I’ll give you the link to my free 10 day video series where I give you 10 practical things to do to make your next 10 years the BEST yet. It’s packed full of value… and FREE. It’s my gift to you… because I want to see EVERYONE on fire for their goals in life!!!
Pretty Money Blog 