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Finance

Goal Setter vs Late Risers

Goals launch the annual performance journey, if you stagger in between or sail in the wrong direction, you will never reach at the destination you’re targeting.

Consider the scenarios between these two families; The Goal Setters and The Late Risers

The Late Risers: Expected to get out of debt
Thinking of buying a dream house
Aiming towards contributing some amount for my child college expenses

The Goal Setters: I will get out of debt by 31st May of this month
I am going to buy a dream house next year
I have started contributing 2,000 every month for my child education

What do great goals look like?

A snap short of your life’s financial goals:

Short term goals: Short term goals are those that are meant to accomplish within a day, week, and month. It lasts not more than 3 months

Intermediate goals: Meant to fulfill in three to six months

Long term goals: They can be accomplished in one year or years to come

Know what’s been stopping you? Hindrances that might stop you achieving your goals;

  • Failing to clearly understand why you want the goal
  • Anxious about making a mistake
  • Setting a goal because of someone else, social or peer pressures not to do something – it can be daunting to ‘stand aside from the crowd’
  • Insufficiency of having realistic time frames
  • Deficiency of skills or resources and commitment
  • Lavish spending habits that are detrimental to your goals

Studies reveal that specific and challenging goals led to better performances of tasks than vague and uneasy goals. Telling someone ‘try hard’ or ‘do your best ‘ is less effective than saying try to get more than 90%.

Set big, audacious goals and then break them down into short, intermediate and long term to obtain the life what you have desired for.