Goal Setting Essentials for 2021

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Shot of a young woman writing in a notebook on the sofa at home

Say Goodbye to 2020, and hello 2021! This will be the year of setting goals, not just settling for resolutions.

Setting goals for yourself is absolutely the best thing to do to start the new year off right. But just having good intentions alone changes nothing. You can make all the resolutions you want, but resolutions without a plan is just wishful thinking. Concrete goals are the foundations of a great plan.

You can make all the resolutions you want, but resolutions without a plan is just wishful thinking. Concrete goals are the foundations of a great plan.

So, how do we set goals and stick to them? Here are my essential guidelines for setting financial goals in the new year:

Be Specific: Ask yourself, what is it you want to accomplish? Be specific in your answer, such as, “I want to pay off all my credit cards.” It is important to make sure the goal is realistic – do not set yourself up for an impossible task. Ask yourself: who does my goal involve, what am I trying to accomplish, and when and why do I want to make this goal happen?

Make Goals Measurable: If paying off credit cards is your goal, then that means you must do the math. Look at the total you owe and divide it by how much you can afford to pay each month. This will tell you how long it is going to take to obtain this goal. Check on your progress often – it feels great to see you are still on track!

Make Goals Time Sensitive: Yes, you must set a time limit. It does not have to be within 12 months, but it should be a specific date. Your goals should have a deadline, for example, “I want to pay off all my credit cards by March 2022.”

Goals Need to be YOURS: Okay, this is the hard one. Make your goals about you. Be selfish. Do not take on someone else’s goal for yourself. You may want to make them happy, but if it is not your goal you may not follow through with it. Just because someone tell you it would be great to pay off your credit cards, you must want to do it too for it to become a success.

Put It in Writing: There is something extra influential about writing things down and putting them somewhere you can see them often. So, get a notebook, Post-it® notes, you name it… go old school with this one – no electronic list. Seeing your goals in black in white will help to hold you accountable and track your progress. I would advise to even go a step further and list the steps it may take to reach your goal: paying off $1,200 in credit card debt in a year means paying $100 a month, or $23.07 a week (52 weeks).

Do not get discouraged if you get off track, life happens, just pick up and start again. Taking baby steps works so much better than trying to do it all at once!

Here is the best plan, but you do not have to do this alone. Contact me today and set up a time to go over your plan and how to best execute it. I have group rates for January and February, so if you and a few friends want to tackle this as a group, let me help.

Carlisa Kent | 240-528-1743
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