A Different Way to Approach Goal Setting

When we discussed setting Financials Goals for the New Year, we talked about the different types of goals and how to set them.

I recently heard a news broadcaster who was interviewing people about their goals for the New Year. What was interesting was how she approached the question. Instead of asking the typical, “What is your New Year’s resolution,” she asked, “Looking back at 2007, what would you have done differently?

I thought this was a very clever way to identify your goals. After all, we set New Year’s resolutions as a way to make improvements in our life. It makes sense to look back at what we may have done wrong or what we could do better, and learn from our experiences.

Interestingly most of the interviewees said they would pay off more debt or save more money.

Millionaire Money Habit: Goal setting is about having an achievable, measurable plan to make self-improvements. As you write down your goals for the New Year, take some time to reflect on the past and think about the experiences that you could learn from.

5 Responses to A Different Way to Approach Goal Setting

  1. Mrs. Micah says:

    Sounds like a positive way to come up with goals and a good way to handle regrets. I like goals, but I think they need to be broken down to be manageable.

  2. Megan says:

    One way to come up with a clearer way to define your goals so that they are more manageable is to ask yourself what counselors and therapists call "the miracle question." If you woke up tomorrow morning and all your problems were solved, how would you know?" And when you answer this question, be specific, for example: I would feel refreshed because I got a full 8 hours of uninterrupted sleep; or, I woke up on my own without an alarm clock because I didn’t need to go into the office today; or, I felt relaxed because all of my bills were paid; or I checked my bank account online and I had 1000.00 in savings, etc. Answering this question will help you set better goals.

  3. Michel says:

    Wow! Have to love that therapeutic question! Thanks for sharing
    this Megan, it sure brings a lot of ideas forward! You have just
    woken a sleeping giant with a single line of text! :)

  4. clint says:

    Wow, the “miracle question”! I can see clearly now! Good stuff, Megan.

  5. clint says:

    Oh! Also a pat on the back to Mr. Ryan Taylor who created this forum for those of us that are still a bit green with our financial literacy. Thanks Ryan.

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