Once you've decided on a specific SMART goal (see yesterdays post), now what?
Setting the goal is just one part of the process.
Here is an overview of my goal:
Specific: I want to be debt free. The first goal in achieving this is paying off my vehicle loan.
Measurable: My current pay off is: $16,363.96 When I started this pay off it was: $17,941.03
Attainable: To make this doable, I need to determine where I can find this money in my monthly budget. Through a lot of number crunching, I would have to pay off $1,196.07 cents a month. My normal car payment is just around $400, so that means, I need to figure out how to come up with an "extra"$796 a month to make this goal. This will not be easy, but if I am extremely frugal, there is a good probability I can do this. Cutting my grocery budget to $25 a week gives me $200 a month to put toward my goal. Now I have to find $600 more. I have eliminated cable, salon hair cuts/colors (and do it at home, myself. I am happy to report I am very happy with my hair cut and color), decreased my spending allowance,etc. It will be tight, and I will need to focus.
Relevant: It is extraordinarily important to me to not have this debt. I want to flee from debt the way the gazelle flees from the hand of hunter.
Time bound: 1.25 years. This isn't forever. After this time period, I can ease up, and increase my 401K contributions so that I can hit another long term financial goal... retire without worry.
However, if all I do is write it down, what I have is a nice cozy dream on paper.
Achieving a goal takes consistent action. Like most goals, it is not achievable overnight. So what I need is persistence. My pastor would call it Grit. (If you want a good book on persistence, I would highly recommend The Grit Project by Gerry Stoltzfoos. The kindle version is $2.99, or a hard copy is $9 on Amazon) Or, another recommendation... reflect on the tortoise and the hare. The tortoise won because he was persistent and stayed the course.
I need to not take my eyes off the finish line. I need to want to reach that finish line more than I want cable TV, more than I want Vera Bradley luggage, and more than I want to eat out every night. When I veer off course, I need to immediately get back on track.
One of the ways I have done this is to try to set up a system of accountability. One of my accountability systems is writing this blog. Some of you can use your spouse as an accountability partner if they are on the same page. Some will have a friend who can do this. Quite frankly, my friends think I have lost my mind.
Set up a routine schedule with your accountability partner (or system) so that you are forced to revisit your goals frequently, and make the necessary adjustments to stay on track.
This will not always be 100% perfect. For example, over the last year I have had many respiratory infections. Birds were making nests in, on, or near all of my window A/C units, and there was really no good way to clean them. I do not tolerate hot, humid weather well. My health is most important. I replaced all 7 window units to the tune of $1,100 just this past weekend. Guess what? I am not going to be making much progress on my car pay off over the next few weeks because I have to pay for A/C units. A large tree in my backyard also came down with a disease, and my guess is it will cost me $500 to have it taken down. I don't want it falling down on the neighbors or doing damage to my property, so I have to divert the money to this project.
But part of making progress toward your goals is being flexible, and not using obstacles as an excuse for not running toward the finish line as fast and as hard as you can.
The picture? A true testament to persistence, little by little. Taken this past September at Grand Canyon National Park. If you've never seen it, it is an awe inspiring site. It boggles the mind that the persistent, continuous movement of water carved those canyons into the rocks. Persistence pays off in the end.
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