Financial Accuracy

Often times I’m not exactly sure what people want to read about, so when I get a request to write on a specific topic, it makes me excited to write about that!  This morning, I was asked to provide more information on goal setting.  I have said before that goal setting is important, but I didn’t lay out what the best ways to set goals would be.  Here are just a few of the many tips on how to set some effective goals.

Set Performance Goals – Don’t Set Outcome Goals
When you set goals relating to your performance, you keep control and have the opportunity to manage and direct how you do.  For example, if you were running a race, you would set a realistic goal of “a time in which you would want to finish” rather than “finishing in the top three” – which you can’t control the outcome of.  The same relates to your finances.  Set out to have a certain amount of money saved rather than earning that big promotion, which you have virtually no control over.

Set Realistic Goals
There are a lot of influences and reasons why an unrealistic goal might be set.  Don’t let other people set your personal goals for you.  They can help you to set a realistic goal, but if you let them take over and set it for you, you’ll find yourself striving for something you don’t necessarily want.  It won’t be as motivating for you and if you don’t succeed, you run the possibility of disappointing that other person.

Set Specifig Goals
Make sure your goals are measurable.  Don’t just set out and say, “I want to be rich!”   It doesn’t work that way.  Instead, set an amount of mony you want to have or something like that, as long as they are realistic.

I’ll post more another time, I promise!