Setting goals for yourself at the start of a new year is something that never goes out of style. However, giving up on those same goals by the time Groundhog Day rolls around is an ugly trend that seems to stick around. Changing our habits and behaviors is hard, so here is one not-so-secret strategy that goal-achievers use to set themselves up for the most success. It all starts with the goal itself.
How “smart” is your goal, to begin with?
Meaningful goals, or goals that you have a chance of sticking with, have 5 qualities in common. SMART is a handy little acronym that will help you remember each quality.
Here’s what it stands for:
S – SPECIFIC
M – MEASURABLE
A – ACHIEVABLE
R – RELEVANT
T – TIME-BOUND
Let’s look at each quality with more detail.
SPECIFIC & MEASURABLE
Every goal you set should be specific and measurable. Take a common money goal of saving money. How much money do you want to save up? How will you keep track of your savings? Will you have another bank account?
“I am going to save $10,000 in an emergency fund.” is a much stronger goal than “I want to save more money this year.”
Are you seeing what I mean?
ACHIEVABLE
The next thing you want to do when you’re setting goals is to make sure they’re achievable. When you set a goal that you don’t believe is realistic you’re building in an excuse to give up. You can say that you want to make $1,000,000 this year, both specific and measurable, but if that figure isn’t something you believe is achievable you’ll give up before you even get started. Your goals can still be big and audacious, you just have to believe they’re possible.
RELEVANT
Your goals should be relevant to you, meaning they should be your goals. Not the goals your mom would want you to set. Not your spouse’s goals. Not your best friend’s goals. Your goals. When we set goals for ourselves based on external pressure we rarely stick with them. Make sure the goals you’re setting are your own.
TIME-BOUND
The last thing to consider is a time-frame for your goals. I see many people who are going to “get out of debt” but they never give it a due date, so it doesn’t happen. Give your goals a due date.
FOR EXAMPLE:
Let’s look at one of the most common money goals people are setting this year – getting out of debt.
Is the goal specific? Check.
Is it measurable? Check.
You know how much debt you have to pay off, and you can see it go up or down with each statement. We’re already off to a good start.
Is the goal achievable? Yes.
You can get out of debt, regardless of how much debt you have. It might take you longer than some others, but this is absolutely an achievable goal. (Follow #debtfreecommunity or #debtfreescream on Instagram to read stories that are truly inspiring!)
Is this goal relevant? Well, that depends, doesn’t it?
Why do you want to get out of debt? My guess is that if you’re reading this that the idea of being debt-free has crossed your mind a time or two. For the sake of this example, let’s just say yeah, this is a relevant goal.
Last test, does it have a due date? It does if you give it one!
When it comes to getting out of debt, take the total amount of debt and start doing the math. Look at your budget to see how much extra you can pay each month, on average. How many months will it take you to achieve this goal? Now you have a due date. Feeling bold? Move that due date up a few months to intensify your focus. Most people are more successful when there’s an element of challenge to their goal.
I’m sure by now you’ve got a few goals for yourself rolling around in your head. Did you know that announcing your goals publicly is another method that can help you stick with them? It creates the accountability piece that we’re often missing in our personal lives.