5 tips for effective goal setting
- Be SMART. Make your goals Specific, Measurable, Achievable, Relevant and Time-based. Each goal should have a realistic deadline and clearly defined actions foryou to complete.
- Break them down. Large, long-term goals may feel hard to reach, so it helps to break them into smaller sub-goals. So for example, if your goal is to start your own business, a sub-goal might be to enrol in a business class.
- Keep a record. Research shows that you’re about 33% more likely to achieve your goals if you write them down. It also forces you to be clear in your mind about what your goals actually are. Once you’ve recorded your goals, keep them somewhere you can see them – it will keep you motivated.
- Prioritise. Some goals may be more important to you than others, so it’s a good idea to consider them in order of priority. That way, you’ll know where to focus your time and energy.
- Review. If your circumstances change, your goals may as well. By regularly reviewing your goals, you’ll be able to adapt your financial strategy accordingly if they change. And each time you achieve a goal, don’t forget to reward yourself.
Your Financial Adviser can help ensure your financial strategy is suited to your ever changing lifestyle goals and desired destination.
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