How To Set Goals Effectively

Everyone has goals they wish to achieve. While the time frame for achieving these goals may differ, e.g. By the end of the week, month, year or decade, the idea is to finally achieve those goals. While persistence and perseverance are a great help when it comes to achieving goals, there are ways to ensure that you stay the course and achieve your goals through effective goal setting methods. Here are some tips on how to set goals effectively.

1. Set goals that motivate you

Goals that motivate you are goals that are important to you because there is value in achieving them. Find out your priorities in your life and understand why they are important to you (write them down!). Then set goals that relate to those priorities so that you’re motivated to achieve them.

2. Make your goals SMART

The acronym SMART stands for Specific, Measurable, Attainable, Realistic and Time-sensitive.

Specific

Set specific goals, e.g. “I want to have RM50,000 in investments by the time I am 30 years old” is specific; “I want to have a big amount of savings in the future” is not. Remember: Ambiguous goals produce ambiguous results.

Measurable

Goals that are measurable allow you to take stock of your current standing in relation to your goals. For example, if you’re currently 20 years old and your goal is to have RM50,000 in investments by the time you’re 30, you should be able to determine how much you need to invest each year, e.g. RM5,000 per year, to reach your goal.

Attainable

Make sure that your goals are attainable, e.g. If you’re a fresh graduate with very little savings and a low starting salary, wanting to have RM50,000 in investments in a year’s time is quite a stretch. Give yourself some time to get to that 50,000 mark by widening the time frame, e.g. In 10 years’ time.

Realistic

Realistic goals are goals that can become a reality. This means wanting to own a unicorn for a pet shouldn’t make it onto the list!

Time

Create a time frame for your goals and make it reasonable. You’ll be more motivated to stay the course and achieve your goals if you have a deadline to meet.

3. Be accountable for your goals

Share your goals with those you trust so that they’re aware of what you’re working towards, and can check in with you on whether you’re on track to achieving your goals. In other words, they’re the ones who will hold you accountable by questioning you on where you are in the process of achieving your goals.

Finally, throw in a big dose of perseverance and dedication, and remember to make the journey worth it!