We are a halfway through January and this might be the time when your 2018 big ideas start to slip through the cracks.
What was your 2018 New Year's Resolution? Get in better shape, get in control of your money, give something up? #allthethings
I have a strategy for making + sticking to my financial goals that you might want to try!
Step #1: Write it down
What is #1 thing you would like to change about your finances in 2018? Less debt? More savings? Set a budget? Maybe there’s an element of all these things you would like to see, but just pick one. Is there an actual number you would like to see? Once you’ve proclaimed your goal, look at your current situation. Where are you right NOW? How does it feel? How will it feel to accomplish your goal? What will this change mean for you + your family?
Step #2: Plan it out with small steps
Instead of focusing on a YEAR goal - what does 90-days from now look like? By transforming your goal from a YEAR down to QUARTERS you are better able to adjust to changes. It also makes the goal feel more manageable and hopefully takes away some of the overwhelm. In the first step you reflected at your current situation + your goal outcome. Now it’s important to brainstorm the tasks that will get you there. Some ideas might be: put your ideal line of credit balance on the calendar for every Friday, plan a monthly family budget meeting, pick one ‘no spending day’ a week, try the cash envelope system, setup monthly savings deposits, etc.
Step #3: Create guardrails
Now that you have your goal, your quarterly result + some steps to move the needle in the right direction, it’s time to plan for failure. What I mean by that is… what are some sneaky situations, habits, or (heaven forbid) people that might derail you from the path to success. By identifying these things, can start thinking of how we can pivot and avoid these temptations. What can you do when #FOMO #YOLO make you start to think that a last minute family vacation is a good idea? What about when you have a crazy week and eating out would just be so much easier?
By going through this exercise you are already 10 steps closer to success than simply stating a goal + hoping for the best. CLICK HERE TO GET THE WORKSHEET
When you wanted your job, you didn’t just proclaim “I NEED A JOB” and it happened. You started looking at job postings, creating your resume, completing applications, going to interviews, etc… Same thing with setting your financial goals. You need to pick something to strive for and then create a roadmap to follow to get you there.