Did you set a New Year’s resolution this year? You’re likely familiar with this whole “new year, new me” concept …but, did you know that nearly 80% of New Year’s resolutions fail by the first of February (according to U.S. News & World Report)?
80%!
Here’s the thing: goals are wonderful, aspirational, and certainly necessary for those of you with big dreams and plans. However, without any concrete, specific plans in place, those goals are just that: goals.
You’ve likely heard that to be effective, goals need to be specific and realistic …but what exactly does that mean, and how does relate back to your finances?
When it comes to your financial future, you likely have all sorts of dreams and goals. Your hopes may change over the years, but it’s possible that at one point or another, you’ll find yourself with at least one of these goals in mind:
- Owning a home
- Planning for and affording a wedding
- Starting a business
- Starting a family
- Transitioning from full-time to part-time in your career
- Becoming a “stay-at-home-mom”
- Taking a sabbatical
- Investing in real estate property
- Retiring and riding off into the sunset
Do any of these goals resonate with you? They should! You CAN achieve whatever you set your mind to. That said, these are significantly more realistic if you have a proper plan in place. So, how can you best position yourself and your goals for success?
Here are 4 helpful tips:
1. Brainstorm
Spend some time truly thinking about your goals and financial hopes. What would you do if you knew you couldn’t fail? Pick your favorite coffee shop, book store, restaurant café, etc….wherever you feel most inspired, and start brainstorming!
2. Write it down
Take notes on your computer, phone, in your notebook, on a napkin. Writing things down is therapeutic in a way and can be incredibly helpful in focusing your thoughts and making the dream feel immediately more tangible. In fact, studies have shown that the physical act of writing your goals down can increase your odds of actually achieving them!
3. Be as specific as possible
When do you want to accomplish these goals? What resources will you need to consider? What costs are associated with these goals? How will you measure or define success? What do you need to get started? Who can you partner with along the way?
4. Find an accountability buddy
Taking a partner along with you on this journey can be so, so impactful. Find someone who you trust, admire, and who ultimately, will hold you accountable to achieving these dreams that you so strongly believe in. An accountability partner should keep you focused when times are tough, and celebrate with you when you achieve those specific milestones.
As a financial advisor, we can often be that unbiased, unemotional accountability buddy that can help you stay focused AND can assist you with planning for the financial components of your dreams. If you have a passion that gets you out of bed in the morning and makes you excited just thinking about it, we want to hear it, and help provide you with the tools and resources you may need in order to financially afford and achieve your dream. You’re worth it. Get dreaming, babe!
Leave a Reply