What's your ONE BIG GOAL for 2016?
Set your intentions for 2016 – and stick to them!
The start of a new year encourages many of us to reflect on our current situations. Relationships, careers, finances – it’s a great time to evaluate the year that’s passed and identify some clear objectives for the year ahead.
Here's a tip: setting one big goal for the year will help increase your chances of success.
You’re probably full of enthusiasm and good intentions right now, but take a minute to think about your future self when setting your big goal for 2016. Being overambitious now may actually end up being your downfall. If your targets are impossible to maintain you’ll slip further and further away from your goal – and might just give up.
Saying things like ‘I want to pay off my credit cards’ or ‘I want to save more’ is a great start, but too vague for your one big goal. Any goal you set has to be measurable and trackable. Set yourself the target of paying off a set amount of your credit card debt, or work out the full costs of a dream holiday you want to take.
Make a plan
Putting your goal down on paper helps solidify your intentions. To achieve it, you need to take a close look at your incomings and outgoings and create a budget for yourself.
Depending on the frequency of when you get paid, you should be setting weekly, fortnightly and monthly savings targets. For help creating your own budget you can read our ‘saving for a car’ article here.
Plan to fail
Factor in some ‘cheat weeks’ along the way. Accept the fact that you’re not perfect (don't worry, neither are we!) and allow for some unplanned spending down the track – like when you see that perfect dress/surfboard/gig ticket.
don’t be overambitious with your goals for 2016. Set achievable, specific goals and plan your budget accordingly
By planning for these days (although no too many!) you know it’s not the end of the world if you do slip up and you can carry on with the plan you’ve set out, rather than feeling demoralised and quitting.
Check out our other articles in the Resource section for more tips and advice on financial wellbeing.