Get Unstuck by Ben Nash

Author:Ben Nash [Nash, Ben]
Language: eng
Format: epub
ISBN: 9780987615893
Publisher: Ben Nash
Published: 2018-09-20T22:00:00+00:00

Practical steps for money goal setting

I hope, by now, that you appreciate goal setting for the true wonder it is. I hope you can see how it gives you the context you need to go after the things that are important to you, and how it will motivate you. I also hope you understand how to set good goals, and why it’s so important to go one step further and break your big goals down into actions.

But there’s one more thing you need to understand to be able to effectively set goals.

I’ve met a bunch of people who get really stuck on goal setting. They say things like, “I’m not sure what I really, truly want”. Or, “I think I want this thing, but maybe I really want that one… and perhaps my future self will want this other one… should I go after them all?” Or even, “I’d like this thing, but I don’t know whether it’s possible or what I need to do to get there and what comes next, and ARRGHHHHH, FUCK IT ITS ALL TOO HARD SO I’M JUST GOING TO SIT IN MY NEW MASSAGE CHAIR AND PLAY XBOX AND EAT SIX-DOLLAR CRACKERS BY THE FISTFUL!”

You can run into roadblocks setting goals if you think you need to know exactly what you want at the very start. The reality is that you don’t. Unless you’re an expert on personal finances, it’s almost impossible to know which goals are realistic, which will put you in the best position, and which you should set for yourself. The reason is that you need to understand what’s possible first. What most people don’t get is that money goal setting is a process, not a single action.

The goal setting process involves four separate steps:

1.Set your initial goals.

2.Do a reality check and see whether they’re possible.

3.Go back to your initial goals, then refine and clarify them.

4.Break down your new goals into actionable steps.

Take note: For Step 2, you’ll need to dive into the numbers. And for both Steps 2 and 4, you’ll likely need some financial expertise, research or outsourcing to help you understand your available options and which ones you can build into your action plan.

Each step is critical, so I don’t want you to think you can skip any of the others, but Step 2 is probably the most important because it’s the most involved. Once you have an idea of what you want, you need to see how it will play out in reality. That means looking ahead and confirming whether what you want is achievable in the timeframe you want.

If you’re like most people (including me), not everything you want will be realistically achievable in your ideal timeframe. This is completely normal, so don’t let it stop you. It’s actually a win, because it tells you some adjustment is needed. If everything doesn’t perfectly fit after your reality check, that just means you need to change something. It might be your income, job, how much you spend or save, your overall strategy or how you invest your money, but something needs adjusting.

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