Avoid These 6 Mistakes To Achieve Your Money Goals
You’ve taken the time to set your money goals. But how do you make sure you’re on track to achieve them?
These things are the reason millions of people never achieve their money goals. And so, I want to share some critical mistakes you should avoid at all costs in order to achieve those goals you have set for yourself.
Why? Being aware of them will help you avoid making the same mistakes. It’s important to recognize the things that could cause you NOT to achieve your goals.
If you’re guilty of one or more of these, don’t worry. I’m also sharing the easy fixes that can get you back on track for success. So let’s get started.
Mistakes to avoid in order to achieve your money goals
When it comes to mistakes to avoid goal-setting, here are six main ones that so many people are guilty of. Knowing what they are and being able to identify how they impact your life is an important first step.
1. Ignoring the small goals
Think only saving £10 a week or paying £50 to your credit card this month is a blip not worth tracking? As small as those small goals might seem, they matter so make them, track them, and celebrate them when you achieve them. They can add up to major progress over time. Here are some specific examples of financial goals (and how to set them) that you can leverage:
Saving for a special holiday with family, buying a new car, buying your first home or holiday home, helping your children through university, retiring early before age 68 (state pension age)
2. Focusing solely on long-term goals
Yes, you read that right! Having long-term goals is essential to defining your big picture. However, if you don’t break these goals down into smaller chunks that you track on a daily, weekly monthly, or quarterly basis, then it’s easy to get overwhelmed. As a result, you'll end
3. Lack of accountability
When you have no personal accountability, there’s no one to motivate you, remind you, or keep you focused on what you are trying to accomplish. As a result, you might start getting complacent, putting things off, and finding yourself in the perpetual state of getting things done “later” or worse still, telling yourself you can’t do it. It's important to adjust your circle of influence if necessary, and get the accountability you need.
4. Not checking in on your goals
How do you make progress with what you don’t track? Checking in on your goals is a must. It could simple as creating a schedule of check in on your goals. One great way to do this is to use your phone's calendar or a physical planner.
5. Dismissing your progress
Just because your progress was small doesn’t mean it’s not worthwhile. Celebrate all victories, no matter how big or small. Not everything you do will result in massive strides, but as with point one, it all adds up.
6. Not getting back up after you slip
Don’t settle for a situation because you made a mistake, overspent, or bought something you shouldn’t have. Slip-ups will happen. Give yourself the grace to recognize your error or mistake, remember your why and get back to work!
Tips to ensure you achieve your money goals:
No one is perfect, and mistakes happen. Fortunately, it’s easy to change your mindset and continue on your financial journey. Now, here are things you can do today to ensure that you succeed with your finances and achieve your goals.
1. Go way out of your comfort zone
Comfort zones are bad for you, they keep you stuck and get you nowhere — obliterate yours and step all the way out in order to achieve your money goals! Yes, you might hate it at first but the outcome will be so worth it!
2. Get sick of mediocre
If mediocrity has been your story for the last year or the last several years, now it’s time to do things differently. You are not destined to be broke or to fail or to be bound by your negative family history. You can be the difference, the breakthrough, the success story! BUT you have to get sick and tired of mediocre and decide to make changes.
3. Face your triggers head-on
You probably know who or what causes you to slip up when you find yourself slipping up on your money goals (and if you don’t, then start observing what’s happening each time you slip up). Identify those triggers and then come up with a game plan to avoid them and minimize the slip-ups!
4. Lay those goals out
We talk about this all the time but I just have to reiterate — lay your goals out, break them into chunks, track your progress.
5. Set yourself up for success
Put your goals where you can see them, automate your savings and bill payments, get your accountability partner on board, find the resources that will help you and decide that you will succeed!