Financial freedom, that's the goal here right?
And sure financial freedom is an awesome goal. But have you considered that having this as the goal won't get you anywhere?!Well, think about how you would start working towards this huge goal...you wouldn't have a clue where to start as you look towards the huge mountain you need to climb over to get there.
You can't work towards goals that are vague and overambitious.That's why your goals need to be SMART. Aka. Specific, Measurable, Actionable, Realistic and Time-bound.And if you're not approaching goals SMARTly, the reality is you're probably holding yourself back.
Don't worry, we'll be deep diving into what all of this means in this lesson.
You're here because you want to take charge and make the most of your money.
Amazing! To get a great start on your financial journey of success and to actually achieve success, you need goals. Without goals, you won't know where you're headed and you won't be able to actually track your progress. So how do you set goals then? I want to introduce you to something called SMART goals. Smart stands for specific, measurable, achievable, realistic, and time-based. Your goal can't just be: I want more money. I mean, who doesn't? If you want your goals to work, you have to make sure they are specific. Instead try: I want to save x amount each month. You also have to know why the goal is important to you. So many people set goals they don't even care about and then wonder why they don't achieve them. If you're going to set money aside every single month, then make sure it's towards something you actually care about. So the next one up is measurable and you need to make sure that you're making goals that are actually trackable so you can see whether you're progressing or not. Say your goal is to increase the amount you're saving each month. You would start by laying out a budget, opening a bank account, and then transferring a specific amount each month. Then you can track it to see how much your savings are growing. Now that's motivational. This has to do with the next letter: A. A is for achievable. Your goals need to be within reach and you need to be able to take action from the very first day. Otherwise, you lose motivation quickly. I promise you. R stands for realistic. And this is so important when you look at your budget. You need to be realistic about how much you can actually save each month. Most goals fail because they're over ambitious. We tend to underestimate what we can do in five years. And overestimate what we can do in one year. So make sure your goals are realistic. And the final letter is T, which stands for time-based. This is one of the most important ones because without having a timeframe for when you want to achieve your goal, it becomes really difficult to see when you're actually at the finish line. So to wrap up this example, your goal might look like this: I want to save about £10,000, euros, dollars over two years. I'll do that by setting up an automated transfer of £420, euros, dollars into a savings account each month. There you go. Your goals just got 100% more motivational. Am I right?
Financial freedom, that's the goal here right?
And sure financial freedom is an awesome goal. But have you considered that having this as the goal won't get you anywhere?!Well, think about how you would start working towards this huge goal...you wouldn't have a clue where to start as you look towards the huge mountain you need to climb over to get there.
You can't work towards goals that are vague and overambitious.That's why your goals need to be SMART. Aka. Specific, Measurable, Actionable, Realistic and Time-bound.And if you're not approaching goals SMARTly, the reality is you're probably holding yourself back.
Don't worry, we'll be deep diving into what all of this means in this lesson.
You're here because you want to take charge and make the most of your money.
Amazing! To get a great start on your financial journey of success and to actually achieve success, you need goals. Without goals, you won't know where you're headed and you won't be able to actually track your progress. So how do you set goals then? I want to introduce you to something called SMART goals. Smart stands for specific, measurable, achievable, realistic, and time-based. Your goal can't just be: I want more money. I mean, who doesn't? If you want your goals to work, you have to make sure they are specific. Instead try: I want to save x amount each month. You also have to know why the goal is important to you. So many people set goals they don't even care about and then wonder why they don't achieve them. If you're going to set money aside every single month, then make sure it's towards something you actually care about. So the next one up is measurable and you need to make sure that you're making goals that are actually trackable so you can see whether you're progressing or not. Say your goal is to increase the amount you're saving each month. You would start by laying out a budget, opening a bank account, and then transferring a specific amount each month. Then you can track it to see how much your savings are growing. Now that's motivational. This has to do with the next letter: A. A is for achievable. Your goals need to be within reach and you need to be able to take action from the very first day. Otherwise, you lose motivation quickly. I promise you. R stands for realistic. And this is so important when you look at your budget. You need to be realistic about how much you can actually save each month. Most goals fail because they're over ambitious. We tend to underestimate what we can do in five years. And overestimate what we can do in one year. So make sure your goals are realistic. And the final letter is T, which stands for time-based. This is one of the most important ones because without having a timeframe for when you want to achieve your goal, it becomes really difficult to see when you're actually at the finish line. So to wrap up this example, your goal might look like this: I want to save about £10,000, euros, dollars over two years. I'll do that by setting up an automated transfer of £420, euros, dollars into a savings account each month. There you go. Your goals just got 100% more motivational. Am I right?
