Goal Setting 2016 – Part 1 SMART Goal Setting

kapua5

Photo by Kapua

American philanthropist Elbert Hubbard realized that many people failed in their endeavors. They failed not because they lacked intelligence or courage, but because they did not organized their energies around a goal.

Goal setting can be complicated if you don’t know what you’re looking for in your life. One of the top reasons why people are unable to achieve their goals are listed at lifehack.org on the  “Top 10 Reasons Why People Don’t Reach Their Goals“, by Robert Chen, is creating vague goals.

A person doesn’t know what to achieve, if he doesn’t know what he is trying to achieve. This might be common sense at first, but try to think of a time when you wanted to become more fit. What exactly does that look like? What does the being fit mean to you? It rises it so many questions that you don’t know what you’re trying to achieve. Being fit is like saying I want to save more money in the future. What are the actions you can take now to save more money? Exactly how much do you want to save?

In my research of habits and goal setting, one of the easier acronyms to keep your goals actionable is using the SMART goal setting technique. I use this technique to make sure  that my goals don’t leave me in a direction where I cannot achieve them or have a gray area of what I’m looking to do.

SMART stands for

  • Specific: Pick a specific area for improvement.
  • Measurable: quantify, or at least suggest, an indicator of progress.
  • Attainable: Is the goal something that you can achieve?
  • Relevant: Is the goal going to fulfill you as an individual
  • Time Bound: When will you complete the goal?

Next post will be examples of what I will be planning for 2016. See you soon.

Author: Michael Subido @ Personal Finance in Paradise

my name is Mike and I live in Honolulu Hawaii. Living in paradise has his trials money happens to be one of them. I've had my financial problems, I've probably gone through all the major ones including student debt, credit card debt, dealing with creditors, and cosigning loans. I found myself in about $66,500 in debt in 2010 and over 28 months I had paid off close to $40,000 of debt making about $25,000 a year gross income. That's pretty hard to do considering the cost of living in paradise. After that I was able to purchase a car in cash, put away some savings, and also get married. What I want for you is to learn from my experiences so that you do not make the same mistakes. I heard it said that smart people learn from experiences and wise people learn from others experiences, and my goal for you is to become wise and teach others to be wise.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s