I am going to get in shape, get a new job, get out of debt and quit smoking… Sounds familiar doesn’t it? So we all have those resolutions that we make at the beginning of the year. Some last a day, some last a week. If you are lucky yours will last 6 months, less than 46% do. The good thing is that you are making these resolutions, because if you weren’t you’d only have a 4% chance of reaching your goal (Don’t ask me how they made up that statistic). I found many studies, but overall 90-97% of New Years resolutions fail. Want to be one of the 3 in 100 that succeed in your resolutions? I have a few pointers to help you out in your lofty goal.
1. Write it down. Statistics show that people who write their goals down are 80% more likely to achieve them than those that do not write them down. In putting your goals on paper try to be specific. For instance rather than saying you are going to get in shape write what waist size, weight or strength you would like to achieve. Then set specific objectives to achieve that will get the end result. Specific goals are more achievable and you can track them better.
2.Make your own goal. I cannot say how many times I have made a goal for my wife. I can however honestly say that nearly every goal I made for her was never achieved. Surprise, surprise… Don't worry I don't blame her. If you really want to achieve a goal it has to be your own - not your bosses, not your parents, and not your spouses. You will only be totally driven to achieve a goal that you have earnestly bought into.
3. Baby steps. Set up small checkpoints along the road. This will help you track progress. And as you see that progress it will create excitement and a desire to work even harder to achieve the goals.
4. Tell the world. Ok maybe not the entire world, but just about! I say this for tree reasons, first telling friends and family subconsciously reaffirms you. Now that your friends know your goal they will be watching you and you won’t want to let them down. Second reason to tell a friend is “When performance is measured, performance improves (Hence write it down and take baby steps). When performance is measured and reported, the rate of improvement accelerates.” Telling your friends in effect gives you a coach of sorts. Someone to report to on your progress. My final reason to tell someone is really just out of maintaining your own motivation. Tell someone you know will be a support to you. Encouragement is just as important as the progress when working through struggles or trying to achieve a goal. If you want to take this a step farther find someone in your peer group who has the same goal. It makes things much easier.
5. Celebrate. Achieving a goal is a big deal no matter how small the goal set, so celebrate that success. I suggest you give yourselves mini rewards along the path of achievements and a reward a little bigger upon achieving the goal. For instance; I go exercise right before lunch a few days a week and I go running before breakfast. My mini reward is that I get lunch [or breakfast] after exercising. The keyword is mini. It would be very counter productive to go on a family vacation costing $3,000 after paying off $1,500 in debt. On the other hand if you and your family just reached the goal of paying off $45,000 in debt and had the cash to do the family vacation then the family vacation would be very justifiable.
6. Have Fun! The hardest part about achieving goals is getting stuck in the monotony and getting bored/distracted. Whether through a game or humor or just excitement make the path fun. It is critical to your success.
So that is the Recipe. Follow it and you will be one of the 3 in 100. If you do have room for improvement the new year does bring an opportunity to make a change. A few goals I suggest for all are: 1) Kick your consumer debt to the curb. 2) A six month financial reserve at minimum, 3) Set a goal of how much you would like to make... or better yet how much you would like to give. These are a few good starts, but remember it has you be your goal, not mine. If you would like please share what your resolution is.
Happy New Year!
Jason
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