Setting Goals 1: Clarity is Key
Posted by Gail | Filed under Goals
People are always setting goals for themselves and then beating themselves up when they miss by a mile. Then there are the folks who are so tired of missing the mark, they’ve just stopped setting goals completely. From the school of “I can’t miss if I don’t throw the dart,” they’ve given up trying.
But if you don’t know what you want, if you don’t lay a plan for getting from one point in your life to another, you’re just wondering in the woods blindfolded. You’re probably going to tumble down a steep slope, trip over some roots, or fall in a hole. You will get hurt. And then you’ll be angry, frustrated, sad. Wouldn’t it just be easier to take off the blindfold?
Becoming debt free, buying a home, having and raising children, building a safety net, creating a retirement account with enoughmoney to live when you stop working… these are all goals. The fact that you may not have thought of them as such means you’re walking around with the blindfold on. When you take it off, when you clearly delineate what it is you want, you’ll stop missing by a mile and driving yourself into apathy.
The first step is to know exactly what you want. Since I work for myself, and there’s nobody around to tell me what to do, it’s easy to spend a whole day at my desk and accomplish nothing of value. If I don’t want this to happen, I have to be really clear about what I’m going to accomplish. So I make my goals for the day very specific. And I write them in my List Book.
My list today looks like this:
- Invoice for article
- Pay credit card bill
- Groceries
- Wrap M’s presents
- Cook chicken & rice
- Write blog 1
- Write blog 2
- Write blog 3
- Write blog 4
- Call for Dr. appointment
- Post next TDDUP family
- Conference call
Notice the “Write Blog” things on my list? See how I separated the four blogs I plan to write. If I just wrote Write 4 blogs, I wouldn’t be able to scratch anything off my list once the first blog was written, leaving me feeling like I was only ¼ way to the goal. And if I only managed to get through three of the four, having them separate means I only carry one forward to my next day’s list – much more manageable and realistic, dontcha think? Making the goals you’re trying to achieve specific, realistic and manageable goes a long way towards creating a sense of completion and success.
Your goals should be so obviously clear that any Tom, Dick or Harriette could look at what you’re trying to achieve and be able to measure your success. After all, if you don’t know exactly where it is you’re going, how will you know when you get there?
Now it’s your turn. Grab a pen and a piece of paper and write down a list of what you want to accomplish today. Eventually you’ll learn to set goals with longer timeframes, but starting short helps keep you focused.
Next, pick one big thing you want to do over the next six months or so, and write it down as a goal. Remember, to be a SMART goal, it has to be:
Specific – You are much more likely to accomplish a specific goal than a general goal. A general goal would be, “Pay off my debt.” A specific goal would be, “I want to be debt free so I will pay off my debt, repaying my most expensive debt first, and having all my consumer debt paid off in three years or less.”
Measurable - Establishing concrete criteria for measuring your progress will help you to stay on track, reach your target dates, and experience the exhilaration of achievement that spurs you on to continued effort required to reach your goal. To determine if your goal is measurable, ask: How will I know when it is accomplished?
Attainable – If the goal is too big, frustration will get in the way. Planning to have a million dollars in savings when you make $10 an hour may be unattainable?
Realistic – You must be both willing and able to achieve the goal. You are the only one who can decide just how high your goal should be. Your goal is probably realistic if you truly believe that it can be accomplished.
Timely – A goal must be grounded within a time frame. With no time frame, there’s no sense of urgency. If you want to save $1,000 for an emergency, when do you want to lose it by? “Someday” won’t work. But if you anchor it within a timeframe, “by August 1st”, then you’ve set parameters within which you’re working.
March 17, 2009 at 7:22 am
Mom Blogs – Blogs for Moms…
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March 17, 2009 at 10:13 am
Consumer debt? I understand that consumer debt is money spent on stuff… What constitutes stuff? In our case we bought a run down house for 1/3 of what renovated houses in the neighbourhood cost, then spent $60000 on our line of credit fixing it up. Some of that went to furniture, but most of it is building supplies. So is that good debt, like the mortgage or bad debt for stuff? We are making good payments and will have it paid off in 5 years. Should I be aiming for three? Yes, I would pay less interest if I could pay it off in three, but we CAN’T. Get another job? When? My husband works three, I work two, we have kids. We could just roll it over onto our mortgage, but then it takes longer and the interest rate is higher.
Looking for your thoughts….
March 17, 2009 at 10:15 am
I have been a list user since my high school days… and that was a long time ago.
It has taught me time and money management, and prioritizing.
I also have a write on/wipe off monthly planner on the wall right beside my desk, and a schedule for bills, payments, etc set up for the entire year. Happy to say that I never miss a bill payment.
For myself, a weekly list and a monthly list works better than a daily list. Perhaps a daily list would be in order if I had a different occupation. But Gail’s point is clear. Make a list. Make it attainable. Update it often.
Whether the list contains financial, household, or life goals… it is always a valuable tool.
March 17, 2009 at 10:15 am
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March 17, 2009 at 10:23 am
Hi Gail,
So its not just me that spends a whole day working, but getting nothing done?!? My problem is that the list doesn’t take into account the things (or people) who just pop up. So I try to have 3 – 4 MUST do things rather than a big list.
Susan
March 17, 2009 at 10:27 am
If you have a question like this Erin, you should ask it on the ‘questions’ page… go back to gails home page and look for the link.
I’m pretty sure that when gail talks about ’stuff’ it’s the crap we buy that we don’t need. She might ask, how many TV’s did you buy? did you need that many? ect.
March 17, 2009 at 11:49 am
I learned early on how to set daily goals and then meet them, I was lucky in that it was part of my schools curriculum and was probably the best thing I learned from school. I didn’t even realize it until recently when talking with friends that having daily goals are unusual. Apparently it’s a strange thing to do? oh well, I had a goal of being a business owner in a business I could run from home so that I could be with my daugther and I achieved that by having daily goals… I had a goal of being debt free and I will be in exactly 3 months!! I think having a goal and visualizing the outcome is the key to success… As usual, thanks Gail for all the wisdom you share with us.
March 17, 2009 at 12:48 pm
Being self-employed, having a daily to-do list is essential! The lines between work, family and personal stuff become so blurred, it’s hard to remember anything. I’ve had days where I’ve accomplished nothing because I got caught up in mundane household tasks, and have dearly regretted it (like missing an appointment with a client).
I read your List Book page, and think it’s a wonderful idea to help keep me on track. I can divide tasks between work, family/home and personal. I can decide in the morning which ones to accomplish first, so that I’m most likely to get more of them done. I can add small tasks that are steps to larger goals, to ensure I attain them in the time I’ve allotted myself.
Thanks for sharing this wonderul idea, Gail.
March 17, 2009 at 12:52 pm
Setting goals is tough! For a while, I set the goal I wanted and divided by two! It tought me the definition of achievable.
Lists are good. Always include the little things that must be done regularly and you know will get done.
March 17, 2009 at 1:52 pm
Erin — to answer your questions, we’d need to know more of the numbers.
For instance, you say you bought a house for 1/3 of the “regular” price and dropped $60K fixing it up. However, what we don’t know is how you financed the house relative to your income. For instance, you could have done a zero down / 40 year mortgage with a mortgage to gross income % of 50% (way above recommended limits) PLUS this $60K. Or you could have no mortgage and used savings to buy it, and just have this $60K mini-mortgage which is a different picture.
On a related note, you sound exhausted in your posting. Money is important, but working 5 jobs between the two of you and raising children at the same time doesn’t sound particularly healthy or a solution that can last more than a year at most before bigger issues appear. There’s more to money manangement than debt repayment, there’s also investing for retirement, savings, education, and having fun in this lifetime too.
March 17, 2009 at 3:02 pm
Wow this totally resonated with me- I keep two to-do lists a “home” list and a “work” list, for some reason my home list is broken down to very small pieces (clear out undie drawer, clear out sock drawer) but my work list is always much more general (plan four possible articles).
I always seem to clear my home list with greater ease and wonder if this is part of the reason- I have re-drafted my work list and look forward to crossing these new broken down items off my list.
I also want to thank you for your great articles, I don’t have any debt but I am reasonably new to Canada and find your articles on the different saving vehicles available to me here very educational.
March 17, 2009 at 4:47 pm
Erin, STUFF is shoes, new dishes, restaurant meals… you name it… anything consumable. So your furniture would be STUFF but your reno stuff would be home improvement which falls under “asset building.” Don’t sweat it. Work as hard as you can to get it paid off in a reasonable amount of time, and keep not spending money on STUFF! But make sure you have a life too.
Susan, the big list gets it out of your head and on to paper… the daily list is what you can reasonably accomplish in a given period of time.
March 17, 2009 at 9:16 pm
I need my to-do lists as much as I need clients when it comes to my business! I am always flabergasted when I meet someone that doesn’t “do” lists.
As far as goals, how will you know if you have arrived at your destination if you don’t know where you are going? I have had a life-map as far back as I can remember… sure it’s been modified as my wants change, but not drastically. I have stuck to the plan pretty solidly and the plan has somehow always found a way to be acheived. College, husband, career, house, family all on schedule. The only bummer part was when I finished that list, I fell into a deep depression. I had acheived all the big goals and though they had all been met, they did not happen as beautifully as I expected, and the feeling of being DONE was very sad. So I had to make the new and revised plan for the next part of my life! That includes raising my kids to productive happy adulthood, debt-free travel, refining my skills, saving for my old age and other goals that are continuous growth not deadlines!
March 18, 2009 at 1:27 am
Pol* – have you read Eat, Pray, Love? Not to suggest that you should leave your husband, but you may enjoy reading it if you haven’t already read it.
March 18, 2009 at 8:40 am
Eat, Pray, Love was an AMAZING book! Do pick it up if you have a chance! Everyone could get sometyhing from her exeriences.
I really enjoy setting goals and making lists. It feels good to cross them off as I complete each goal.
The challenge is making sure I’m being realistic with my goals. Currently I have plans to run my 1st 1/2 marathon in May. I’m really struggling with the training schedule. With a 3 yr old, work, family, home etc it’s hard to fit in. So now I’m asking myself “What if you speed-walk it? Is that so terrible. You are still achieving the goal of completing the 1/2.”
I have to ask myself if running the marathon is really that important. Am I still going to feel satisfied if I walk it? Thankfully, I have a little time to decide.
March 19, 2009 at 10:28 am
I love that book too! It really got me thinking about what I wanted from my own life.
March 19, 2009 at 11:51 am
On the subject of lists, I once heard someone suggest that instead of just writing a “to do” list, that procrastinators should keep a “have done” list for the day so that you can see your list grow, rather than feel daunted by what’s to come.
March 24, 2009 at 2:06 pm
Great tips.
If you’d like a tool for setting your goals, you can use this web application:
http://www.Gtdagenda.com
You can use it to manage your goals, projects and tasks, set next actions and contexts, use checklists, schedules and a calendar.
A mobile version is available too.
May 27, 2009 at 7:39 am
Goal setting is a very powerful technique that can yield strong returns in all areas of your life. Your goal can be as basic as to learn cooking or losing body weight. But make sure the goal you are working for is something you really want, not just something that sounds good. Don’t let others to set your personal goals as they might set unrealistic goals for you. Set your goal relating to your efficiency and potential and move steadily towards achieving your goal.