We all seem to be keenly aware of the time clock at the turn of the calendar year however as we anticipate the end of Covid-19 lockdown, it will indeed be like a brand new year again.
Turning our attention to our hopes and dreams, this traditionally sets in motion the idea that we need a goal. We make a resolution where we demand the discipline of ourselves to either start some new activity or perhaps to stop something else.
Goal setting is a fundamental human behaviour, essential to our desire to change or improve something in our lives. Unfortunately our method of setting goals can cause a split in our thinking, which can stymie our best intentions. Frustration, guilt and anxiousness can overwhelm us to the point where we want to abandon the idea altogether.
Money, like dieting and exercise is a popular subject that is subject to goal setting. Immediate expectations can soon over-ride rational behaviour. Events over which we have little or no control can amplify our personal feelings as day-to-day events (short-term issues) can appear to be de-railing our best intentions.
So, how do we identify and stay focused on the goals and things that matter in our lives?
I suggest getting a clear picture that goes beyond just having a goal. In my mind there are three things at the outset when embarking on any adventure. Three things that you need to identify are your objectives, goals and biases.
Let’s start with an example: Say I made the statement “I want to be thin”. First, this is not a goal. This could be an objective, although without discovering the bias, this would likely amount to an unsatisfactory result. For instance if my bias is – thin people are more healthy – I can begin to determine my true motivation. You see this provides a frame for an appropriate objective to start with, which in this case would be – “I want to enjoy good health”.
By establishing what the true objective is in this manner, goal setting then becomes a series of steps towards accomplishing the objective. To continue with the example above where the objective is to enjoy good health, goals can more easily be identified. By specifically directing goals in this way requires smaller chunks of personal energy resulting in a higher likelihood of achieving the objective.
Going back to the example, say that improved personal health can be achieved by reducing personal weight. A direction goal can be set for the weight loss within a desired time frame. Within this context another goal can be to reduce the amount of fat in my diet daily by eliminating eating cookies. Another goal can be to start on a physical fitness program 3 days a week.
Approaching goal setting in this way provides a continuous way of keeping the bigger issue of the objective firmly in view. In this way, accomplishing each goal becomes less daunting of a task allowing the creation of a sustainable habit that keeps the focus on the true longer-term objective.
Turning now to money, in striving for the ideal, the true financial planning process provides this level of clarity. By understanding the real objectives of the individual at the outset, appropriate goals can be described and benchmarked to measure accomplishments.
To understand the real objectives of an individual, by definition requires an understanding of the biases. Our parent’s bias, our past experience, our friends and co-workers and the powerful media – all influence us. The issue of identifying these biases can become somewhat protracted and realistically it should be noted that in our lifetime, we are never really done. The secret however is to continue to expose our-self to a better understanding of our own biases.
Living in this new century will test our resolve. This will occur at an individual level as well as in the larger social collections of individuals. No organization, whether charitable or businesses will be immune. An increasing level of clarity as it pertains to articulating objectives and establishing goals will be more commonplace to properly survive. This will require a level of thinking that will focus first on “the end in mind”.
By first identifying the end in mind, we can more clearly identify, define and understand when we establish meaningful objectives. Goals then, can be a powerful human motivator to launch and sustain a positive outcome.
How are all the pieces fitting together for you? Is it time to re-visit your plan to re-establish your objectives and priorities? Time to clear out past stuff? Time to re-focus on the getting the main thing the main thing?
It’s a kind of like a new year again. It’s time to look forward with your renewed hopes and dreams.
Contact me to re-ignite.