Posts tagged ‘goals’

The Written Path to Success: Unleashing the Power of Goal Setting

We all have goals, whether small ones like making it to the weekend without quitting our job, or big ones like graduating college. But what sets true goal setters from those who end up quitting and not achieving their goals? Simply putting it on paper!

And yes this is backed by science , so why not explore it further together, so you too can use this simple hack to get closer to your goals.

In a fascinating study conducted by Dr. Gail Matthews, psychology professor at Dominican University in California, the profound influence of written goal setting was revealed. With a sample size of 267 participants, Dr. Matthews went deep into the question of whether simply writing down our goals could enhance our chances of achieving them. That is, if two people have the same conditions, timeline and goal, can one have the edge in achieving these goals by simply writing them down on paper?

The results were astonishing to say the least. Participants who engaged in the act of writing down their goals experienced a significant 42 percent increase in the likelihood of reaching their goals. This seemingly straightforward practice had a remarkable effect on the participants’ success rates.

The implications of this study are far-reaching. It suggests that the act of putting our aspirations into written words can instill a sense of commitment, clarity, and motivation within us. By giving our goals a tangible form, we create a bridge between the realm of thoughts and the realm of action. The written word becomes a powerful reminder, guiding our focus and propelling us forward. So why not use this little hack to achieve your wealth and financial goals? For example, if you are trying to achieve financial independence in the next 10 years, and your aim is to have $1million in networth, then you need to put that into a concise and clear sentence and make it a habit to write it in a journal book on a regular, if not daily basis.

Writing down our goals not only provides us with a visual representation of our aspirations but also serves as a blueprint for planning and strategizing. It allows us to break down our goals into actionable steps, fostering a sense of organization and purpose. That is, it is not that writing things down will magically happen. But rather, when you write something down, it is almost like you are sending a signal to your brain that this is important and matters a lot to you. With that cue, the brain then creates the conditions and environment for you to succeed to get to your goals faster, easier and with better certainty. Put another way, the act of writing itself engages our cognitive processes in a unique way. It stimulates our memory, reinforces our intentions, and strengthens our commitment. It is as if the written words create a pact with our subconscious, ensuring that our desires remain at the forefront of our minds.

So, let us embrace the power of pen and paper. Let us take the time to articulate our goals, to breathe life into our ambitions through the act of writing. By doing so, we unlock a greater likelihood of achievement and embark on a path of purposeful progress.

The Smart Way to Save for Big Purchases: Strategies for Success

You’re cruising along with your trusty car, and everything seems fine. But let’s face it: in 5 years, you’ll eventually need to replace it. It may seem daunting to start saving for such a big purchase so far in advance, but here’s where you’re mistaken. Now is actually the best time to kickstart your savings plan.

But what about those smaller yet significant expenses looming just a few months away? Take, for example, a dream family vacation to the Caribbean, costing a few thousand dollars. With exactly 5 months to save up $5,000, how can you effectively budget and save for such an adventure?

Break It Down into Manageable Pieces

One effective strategy, commonly used in goal-setting and project management, is to break things down into smaller, more achievable targets. For your upcoming vacation, instead of fixating on the $5,000 price tag, focus on saving $1,000 per month over the next 5 months. By shifting your perspective, you’ll find it easier to grasp and rally around these more digestible milestones.

Create a Dedicated Bank Account

Given the substantial amount you’re saving, it’s crucial to establish a separate bank account exclusively for your vacation fund. This separation sends a clear message that this is a special project requiring your utmost attention. By compartmentalizing your finances, you’ll maintain a laser-like focus on the bigger picture without distractions from day-to-day expenses, debts, or other financial commitments. In other words, no matter what’s happening elsewhere, this account will be your unwavering resource for funding your dream vacation.

Explore Multiple Income Streams

Unless you have a substantial income with zero financial obligations, you’ll likely need to tap into additional revenue streams to achieve your savings goal. Begin by calculating how much money you can contribute each month from your current job, and then brainstorm ways to secure the remaining funds. Can other family members chip in? Are there upcoming bonuses or windfalls that can be allocated entirely or partially to your vacation fund? Consider taking on a side gig or part-time job. You can even explore opportunities for extra hours at your current workplace by discussing the possibility with your manager. Lastly, declutter your home and sell any items you no longer need online. Remember, the more income streams you can generate, the easier it becomes to save for your eagerly anticipated getaway.

Remember, the key to success lies in starting early and planning ahead. By giving yourself ample time and diversifying your income sources, you’ll significantly increase your chances of reaching your savings goal. Let’s embark on this journey together and make your dream vacation a reality!