We are at the end of the year and 2019 is getting closer. This is the perfect moment to think about setting goals. So today I want to talk about how to set goals for 2019. Setting goals at the end of the year may seem to be an easy task because all you need to do is sit down and think something up. This is the most common mistake we tend to make in goal setting. What will happen is that you quickly write down some goals, but you have already forgotten them in February and do nothing with it for the rest of the year. So, the important factor in goal setting becomes how to set goals and achieve them.
This blog is mainly focussed on personal finance, so financial goals are very important to set. However, personal development is also important in my opinion, so in this blog I will talk about personal goals as well. The method that I use in this blog to set goals for 2019 is based on a YouTube video I recently saw of Clark Kegley. He uses a goal setting method with work, rest & play goals. So full credits to him for this! In the YouTube video down below you can see his video on this subject. I recently made my goals for 2019 based on Clark Kegley’s model, you can read my personal goals right here. Let’s get started!
We are talking about setting personal goals. How do you set goals on a personal level and strive to achieve them? The mistake most goal setters make is thinking lightly about what they want to achieve. Sometimes, it’s probably an idea they got from a friend or a work colleague. This is not personal and also not original. Setting personal goals should be a well thought out and balanced process. The best way to set goals is breaking them down into three major categories:
Think of the categories as a perfect triangle, for now let’s call it the goal setting triangle. The triangle should remain balanced for your goal setting process and achievement to be perfect. This means that the goals set should be realistic, achievable and not supersede one another. Work should be equal to play as it is equal to rest.
Your work goals are goals that involve your work. For instance, if you own a business, goal setting examples should include how many new clients you want to get, increase in sales by what margin etc. The goals are more analytical because it helps your goals become clearer towards what exactly you want to achieve. So what do you want to contribute to your work? What analytical numbers do you want? Try to set annual, quarterly and monthly goals, so you can track them during the year. In my case the work goals will be focused on my full time job, but of course also on this blog.
Rest goals are more inclined to personal health and wellness. These are goals that make you into the person you want to become. Rest goals are personal stuff that is going to make you better and different from the person you were in 2018. Try to see these goals as self-development goals. What skills do you want to improve, what do you want to learn. Do you want to lose weight or eat healthy, or do you want to go to the gym? These are perfect rest goals to set for 2019. But one of the most important rest goals is: How much money do you want to save and how much money do you want to invest. Don’t forget those goals!
“All work and no play makes Jack a dull boy.” As the saying goes. Your play goals should be the fun stuff. Think of places you want to go, adventures you want to experience in 2019. Do you want to buy a new car or house in 2019? These play goals should make you excited for the new year. Of course, this is a blog about reaching financial independence and early retirement, so I’m not advocating that you should spend all your money on materialistic stuff or holidays. But life should be fun, so play goals are also very important in life.
The goal setting process
Now that you understand the kind of goals to set, it is important to begin the process. The first step is to take the time to think about the goals you want to achieve in 2019. Everything created in the world is designed in the mind before it gets to reality. Think about what you want in the goal setting triangle and how you expect to achieve it. List down the tentative goals and go through them again. Note those that are important and come up with a final list. The final list should be what you believe you will achieve. Each category should take you about 10-20 minutes, but take your time.
The next step is to attach deadlines for the goals listed in your final list. Deadlines are a way of introducing accountability towards achieving your goals. Parkinson’s Law states that tasks expand to fill the time allocated for their completion. If you give yourself a year to complete a three-month objective, it will take you a year. Therefore, it is important to give yourself adequate timelines to achieve your goals. Not too long or too short.
The formulated list with deadlines should become your journal. The journal should help you remember your goals and how you are expected to work towards them. You can consult the journal every day to keep you on track thus helping you achieve your goals. It is also important to note that you may not achieve all your goals but at least you will work up to them. This way, instead of goals dying down before you get to February, you keep track and stay committed.
Like I said, I think this goal setting method is very useful. I used this method as well and it really helped me. If you have any questions regarding this method, let me know down below in the comment section.