The year is coming to an end which has so many of us looking back on our set goals for the year, some of us feel fulfilled about meeting and even surpassing our goals, while some others feel not so happy with themselves because they couldn't meet up their desired goal, probably due to some unexpected challenges or chosen lifestyle, especially when it relates to our finances. I was in a women's meeting yesterday in church when a question got raised looking back to how we started the year and how we are ending the year, do we have double the amount or asset we invested in compared to how we started the year? Sadly only a few could raise their hands while the rest of them listed the challenges the year brought from inflation, money scarcity, low income, etc.
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Everyone wishes to be financially free but some have difficulties achieving this aim, without any doubt, to achieve financial success, we need to set goals because accumulating at once isn't so easy except you hit a jackpot which of course isn't a regular experience. When we set a goal, it gives us a sense of purpose, keeps us focused, and helps us accumulate over time, making our dreams a reality and the more you hit a target, the more motivated you feel to work on achieving your goals.
Some wish to have a house of their own someday, or do you desire to start up a business but can't afford the capital at once and don't want to get themselves involved with getting a loan. sacrificing and saving parts of your income could help you materialize your goal over a period of time. The new year is around the corner and a lot of us are going to start setting goals all over again, how can we make a difference this time, and not just stop at setting goals but achieving them as well, and not end up another year in regrets.
1 Set Goals that align with your dreams
It is important for us to set goals that are important to us because it is the energy we need to achieve that success that keeps us motivated, setting goals that don't align with your dreams or too many goals can make one easily distracted, lose focus and not stay committed, When we have something we are passionate about, we can go all out for it without wavering because we would want to prove to those around us why your dream is worth the wait and sacrifice. Writing out your set goals and putting them in a position you easily go to, it is also a good way of reminding yourself daily why you need to achieve your goal and not relent.
2 Set SMART goals
one of the key things I learned early on hive after getting admitted into the newbie initiative is setting goals, and not just ordinary goals, but SMART goals, SMART meaning
- S pecific
- M easurable
- A ttainable
- R elevant
- T ime-Bound
- Specific goals simply means being direct with your goals, for instance, if you want to save up for a house, you have to be clear about the type of house you wish for, a house can be any house, is it a duplex? how many rooms do you wish for in it, and what location do you desire for your dream house, all these help us to be specific, have a picture in mind, and make planning easy.
- Measurable goals helps us put an amount to your goal, and how you can make it affordable to reduce expenses, In housing case for instance, when you have a specific house in mind, you can meet professionals to do the costing for you so you have a target in mind to follow, all these gives you a sense of purpose towards achieving your goals. This can also help you to prioritize and budget your spending, so that you can allocate more towards your goal. Having measurable goals also gives you a sense of accountability and encourages you to work harder to achieve them..
- Is your goal Attainable? the aim of setting goals is to make them a success, just because you desire success doesn't mean you should set goals that is unachievable, make sure to measure your income with the time you set to achieve your goals, making sure it's achievable, this does not mean you should only be setting easy goals, you can set hard goals that you can achieve, not impossible goals, setting impossible goals is more like deceiving yourself.
- Making your goals Relevant shows how important that goal is to you, like I stated at the beginning of this post, making your goals align with your dreams and passion shows how relevant it is to you, and increases your zeal towards achieving that dream, it makes you stay consistent and committed to your goal no matter how long it takes, the fire keeps burning to make it a reality.
and lastly
- Set Time-Bound goals, giving yourself a target at a duration helps you know how close you are to achieving your goals within the time you've set for yourself, if you are lagging, you up your work or savings, and if you are on point, you get encouraged to do even better.
As the year draws to a close and reflections on financial goals arise, the key to achieving financial success lies in setting purposeful and SMART goals. Aligning goals with personal dreams, making them Specific, Measurable, Attainable, Relevant, and Time-Bound ensures focus, motivation, and a realistic approach. As the new year approaches, the challenge is not only to set goals but to actively work towards realizing them, avoiding another year of regrets