As the new year approaches, you may be thinking about setting some resolutions.
But what if this year, you revamped your approach to goal setting?
What if, instead of aiming for the sort of targets you imagine other people might think are worthy, you prioritised what you want most – and what might have the biggest impact on your life.
Here’s how to set some goals that will really make 2025 your year.
Review the past 12 months
Take a minute to think about how the last year has been for you. What have been your successes? What have you achieved? And on the other side, what have been the biggest challenges you’ve faced? If you set goals for this year, which are you still aiming for, and which are no longer a good fit for your life?
From this exercise, you might be able to draw some key lessons that will help you to determine what changes you might need to make if you want to take any of your 2024 wish list into 2025.
Set goals that stick
When it comes to setting goals that work, the key thing to remember is that they need to be achievable and measurable – and you need to actually want them.
Many people start the year wanting to be healthier, for example. This is not a great goal because it’s hard to determine when you’ve achieved it. A better option could be to say that you’re going to walk 8000 steps a day and incorporate vegetables into at least two meals a day. This is probably achievable, and it is certainly measurable – your phone will usually offer an option to track your steps, even if your watch doesn’t.
You might want financial freedom. Breaking that down into smaller steps makes the goal much more accessible. You might decide you want to set up an emergency fund, pay down a certain amount of debt or build up your income by a certain amount.
It might help to think of goal setting as a ladder. You wouldn’t aim to jump from the bottom to the top of a ladder in one leap, and nor should you expect to go straight for the ultimate goal immediately.
Knowing why you have your goals will make it easier for you to stick to them when it gets hard.
Goals can have wider impact
Your goals can often feed into other areas of your life.
Walking more and eating more vegetables, as in the previous example, could give you more energy to spend time with your family.
Improving your financial wellbeing could help you achieve other goals, such as travel, education or a new career or business opportunity.
Celebrate your wins as they happen
When you’re working towards a big goal, it can be hard to stay motivated.
Try to break it down to the smallest steps you can, and then celebrate your progress along those. Share your wins with other people. Sometimes keeping track of them in a visual representation somewhere prominent in your home can be extra motivating.
Don’t go it alone
Having someone alongside you can make it a lot easier to reach your goals. Whether you want an accountability buddy, a cheerleader or just someone to talk through the possibilities, sharing your goals with someone else can make all the difference.
As advisers, we’re experts at helping people set financial goals, and working out the most appropriate path to them. Drop us a line today and we’ll help you take the next small step to get on track for yours.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.