How to make your money goals a reality
However you decide to do it, your dreams for the year must be rooted in a solid foundation. If you don’t put action plans in place to make your goals a reality, chances are that they will return as dreams on your vision board next year.
Researchers agree that there is a correlation between setting goals and achieving success. But goals are not meaningful if you don’t have an action plan in place that helps you achieve your goals in a specific time frame. You can’t, for example, have a goal of saving X amount towards your investments without having a proper system in place. The key to achieving goals is to have a solid system in place – a system that encompasses consistent good habits that effortlessly integrate into your daily life. James Clear, the author of Atomic Habits, reminds us that habits are always part of the process and, by showing up and making small changes every day, we eventually reap big rewards.
Let me explain. One of my favourite systems is having a debit order. This system allows me to effortlessly invest every month without even thinking about it. It does not have to be a large amount, but remember, small change becomes big change.
Here are a few more money systems that have benefited me personally over the years:
- I have consistently increased my monthly saving contributions every time I receive a salary increase. This is one way of staying ahead of inflation.
- As a financial planner, I know the benefit of working with an objective planner to help me plan for my money. It’s easy to become emotional around money, especially when markets go down – I have seen too many people sell out of the market at the wrong time. It helps to have a planner as part of your team. Someone who can give you objective advice and help you think clearly in times of stress and chaos.
- Draw up a financial plan. Without a detailed financial plan showing me exactly where I stand with my money, I may have made different choices impacting my life significantly. Because I know exactly how much I need to save, invest and how much I have to spend, I can make all the memorable experiences I have with my family and friends a reality. Instead of investing all my money, I know how important it is to also have a return on life.
Remember that your money habits are how you operate with money. They are the repeated daily behaviour that builds your reality. A system helps you implement healthy money habits that serve you and build your dreams.
So, back your goals with systems this year, especially your money goals, and see how your goals materialise into reality,
Always remember – when it comes to your money, be brave, be on purpose and be inspired.