Posted by & filed under Savings.

I use the time between Christmas and New Year to mentally work through the money goals that I have set myself for the coming year. These often range from how much I would like to earn, where I would like to live and also building up an investment pot. This year I bought a house that is in such a state we can’t live in it and expect to not be able to for a lot of 2019! My goals this year are to get this property how I want it and then to focus on getting the mortgage paid off before my 60’s.

Each year I set myself stretch targets that make me feel nervous and actually very uncomfortable. Perhaps the sadistic part of me actually enjoys this feeling too.

I have always found that if I set a goal, I am much more likely to achieve it if it actually means something to me and it is well thought through. I work with a mentor (who often scares the hell out of me) and this is how we set goals together.

Firstly, it is important to work out why. What are you trying to achieve? What is the life that you want and are you sure that you are not being influenced by society in your decision making process? What are the 5 things that you would charge about your life? Which ones can you change quickly?

Once I have worked this out I then need to make sure that my goal is measurable and clearly defined. I use the SMART goal method to do this:

S — Specific — the goal needs to be well defined

M — Measurable — how will you know when you have achieved it?

A — Agreed Upon — Everyone involved in the goal should be onboard and I go one step extra and makes sure that I tell a few key people to make sure that I am accountable to them too

R — Realistic — within your capabilities given the resources that you have at hand. This doesn’t mean that it can’t be a bit scary and at the edge of your capacity though

T — Time-Based —not too much time and not too little time within which to achieve the goal. Will you be able to stay motivated for the duration?

So before you turn your attentions elsewhere? Diarise an hour to begin this process to ensure a more prosperous year!

Lots of Love

Miss Lolly xx

previous post: It’s Starting To Feel A lot Like Christmas next post: Financial Self-Care