The first secret to setting inspiring financial goals is to know that it’s not about the money. You may have heard that old cliché and probably put it in the BS pile, yet I am here to tell you it’s true.
I see this many times, people decide they want to be ‘rich’. A seminar comes into town that sounds like easy money, they jump on board, may even fork out money to attend a course, and when the hype is over nothing changes. Why? Because money in itself is not a strong enough motivator to keep you going to put in the effort that is required to bring those dollars in.
So what do you really need to get down to business and make a real difference to your finances? You need to find the reason WHY you want to create wealth.
SMART goals are a great start to set some parameters, like making your goal:
Specific – for clarity
Measurable – for accountability
Achievable – but not so easy that you won’t get started
Realistic – so your mind can believe that you can do it
Time Bound – to get you moving now!
But there is nothing in here that is inspiring, to keep you going when the going gets tough, because, let’s face it, any financial goal will take some time to achieve, which means that you can no longer go for instant gratification. You will have to make new choices and take action that keeps you on the right path.
The secret is to make your goal linked to something more than money, something outside of you that you are very passionate about.
As an example, for many parents this drive is their children.
There are 5 elements you need to consider to be able to set inspiring financial goals:
1. Values –What do you stand for? How are you going to contribute to making this world better? What impact will you have on others? What will your business/dream job look like?
If you are wondering why successful people are successful, it is because they are long term thinkers. When you are taking the next step towards making your big picture happen, how does it fit into the puzzle?
2. Role model – Who are the people that are relying on you to make it happen? Who are the people counting on you? Family friends, others? Whose life are you impacting on?
You are a role model for so many people! Knowing who you area role model for drives you to become the best version of you.
3. Dream Life – Do you even know what you want your perfect day to look like when you achieve your dreams? How can you achieve something when you don’t know what it looks and feels like?
What will your multi-million dollar portfolio give you? What sort of life will it help you create?
Planning this, seeing it in your mind’s eye, is a forward motivator, it will excite you to achieve your dreams! The clearer you can become about this the better!
4. Exact Figure –If you had everything you wanted in your life, how much would it cost? Knowing this figure will help you find the way to create ways of generating it.
Once you know the figure, write yourself a cheque with the dollar amount, and the date that you are going to achieve it by, for the services you provide.
Are you doubting the power that this may have? Jim Carey, at the beginning of his acting career wrote himself a cheque for $10M, but not until Dumb and Dumber did he reach that amount. But he did. If it worked for him, then why not you?
5. Declaration – Let the world know what you are about to set out to achieve! Sure it can be scary! The “what if I fail” question no doubt comes through your mind… however tell everyone what you are setting out to do.
You never know where it will lead you. Also, the people you declare your intentions to can hold you accountable and make sure you achieve your financial goals. Not only that, but by declaring your financial goals to others, you also clearly declare the goal to yourself and set the unstoppable you in motion.