Are you achieving your goals?

Sometimes we set ourselves up for failure! Since we are fast approaching a pivotal time in the year, where many of us tend to set goals for the new year, it is important to be realistic, practical and honest with your goal setting.

Remember this acronym: S.M.A.R.T. It is applicable to short, mid and long-term goals. Short-term goals are tasks that are achievable within a brief amount of time such as a couple weeks. For the most part, these goals are stepping stones for the mid to long-term goals. With that said, mid-term goals are usually attainable inside a few months, while long-term goals are bigger, more challenging and can take more time to complete. For example, if your long-term goal is to buy a house, a short-term goal may be to (ideally) reduce or eliminate your debt simultaneously open a savings account for your down payment or closing expenses or simply to be ready for opportunities that will come your way...only if you have savings!

S.M.A.R.T. Goal Setting

S.  Specific & written

M. Measurable in progress & completion

A.  Achievable outcome

R.  Realistic in time & skill

T.  Time based achievement

Goal setting can be an intimidating process and there are plenty of reasons why people avoid making them. Things to avoid;

1. Setting impractical goals. Set your criteria on reality! For example, be professionally qualified for a mortgage. Know where you stand and stick with that number. If you know you are only able to spend a certain amount of money....don't go over that!

2. Fearing Failure. While some people  set the bar too high, others set the bar too low or don't set the bar at all to avoid let downs. Don't let fear of failure paralyze you. Studies show that the additional effort and motivation required to achieve challenging goals makes them more rewarding than easier goals.

3. Not having a plan. A major part of goal setting is creating a plan of action to initiate, substantiate and complete the task.To improve the chances of reaching your goals, give yourself a deadline and stick to it. Deadlines will hold you accountable to your goal and help you track your progress.