How many times have you sat around on December 31 and prattled off a list of accomplishments and improvements you wish to make within the next 365 days, only to find yourself making those same resolutions the following December 31? It’s a scene that many of us have starred in, to the point that some (like me) have given up making New Year’s resolutions all together. But why don’t we see these resolutions through? It’s not lack of desire; otherwise we wouldn’t set such lofty goals in the first place! And although lack of willpower may be the case for some, it is certainly not true for all. So what is it?
Most New Year’s resolutions fail because they aren’t SMART! No, that is not to say that saving more money or losing weight is stupid. These are great goals; after all, these are two goals that I have set for myself. However, these broad goals often do not follow the five characteristics of SMART goals:
- Specific
- Measurable
- Achievable
- Realistic
- Timed
Specific: Is saying “I want to save money” specific enough? Of course not! Lack of specificity leaves loopholes, which is why many people leave their resolutions vague. That way, at the end of the year, if they’ve only saved $50 they can still say “I did it!” even if they actually needed to save $1000. A specific goal would say “I will add $1000 to my savings for a down payment on a house.” That statement clarifies what you want to accomplish and gives a purpose for it.
Measurable: How do you know when you have achieved a goal if there is no measure of progress? A measurable goal helps you stay on track and keeps you motivated. Seeing the steps you make towards a goal also allows you to avoid becoming overwhelmed. The thought of “oh my goodness I have to come up with $1000!” may be a bit much, but the idea of saving $40 a week is a much easier pill to swallow. Seeing that goal shrink from $1000 to $840 to $680 makes getting to that last dollar a breeze.
Achievable: So now we know that the goal is to save $1000 for a down payment, and we will save $40 a week to get there. The characteristic of achievability indicates developing a plan. Yes, the plan is to save $40 a week, but how? Maybe it is cutting out the daily runs to the coffee shop, or foregoing dinner and a movie for a Netflix night accompanied by a home-cooked meal. The point is to find ways that work for you.
Realistic: There are limits to what we can do. You can’t save $1,000,000 a year when you're only making $50,000. It’s just not possible! Setting an unrealistic goal is a surefire way to set yourself up for defeat. How? Look at your goals met as wins and those not met as losses. When you fail to achieve those unrealistic goals, you add one to the L column. Set too many unrealistic goals and those losses start to pile up. Before long, you are convinced that you cannot achieve what you set out to do, even if it is realistic. Kill that negative outlook before it starts by setting realistic goals. Instead of saying “I’m going to save all my money this month for my down payment,” determine to save bit by bit to avoid being unrealistic.
Timed: I’ve never seen a calendar with “Someday” listed as a day of the week. You cannot truly have an aim without knowing when you plan to hit it. When should you have met your goal? Within six months? By the end of the year? On your birthday? Your personal needs and motivations will be what answer this question. Just be sure the question of time is answered. “I will save $1000 by the end of June” is a much better target than “I’m going to save $1000 this year” because it gives a definite time frame in which to work.
We have gone from a very vague resolution (“I want to save money”) to a SMART goal: “I will save $1000 by the end of June to add to my down payment towards a house. I will do this by making coffee at home and bringing my lunch to work three days a week, which will save me at least $40.” Now that there is an action plan in place, that resolution is one that you can stick with.
Tori Whitley - I write to inspire others to become empowered and to discover their own potential and self-worth.
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