Uncategorized · February 4, 2010

Is Goal Setting important?

I’ve been contemplating how i can become more of a financial success.

To me, financial freedom means being able to do whatever you, whenever you want and always having the money to accommodate this.

Currently, i seem to be quite content with my life. I keep the office hours that i wish (which is work whenever i want to), I have total freedom to do what i want, i have a great family life and a beautiful home…i am quite happy where i am now..

When I shared this in our business mastermind, i was then asked, “If so, why do you  come to the mastermind. Why are you on the lookout for more opportunites? More money?”

Quick answer is that, although i am living a nice life, i am not 100% financially free. There are times in the month where i do worry about paying the bills and meeting the financial needs of my children’s education. So although i seem to have some aspects of what i deem as my imagined perfect life, there are still some aspects that need to be worked on to complete the picture.

So how is it that i can feel so contented, seem to be living the life that i want and yet have to worry about bills and other financial obligations?

This morning on my jog with the wife, a possible answer to this question hit me…

My wife has just decided to take up the challenge of running a 10 KM race. This is a woman that has steadfastly refused to do more than necessary in exercising. This morning was her second run of a 12 week program i set for her.

I was telling her rather than starting a run and not have a clear idea of how far or how long she wanted to run, she might instead consider setting a goal for her runs. In this way she could focus her mind better, monitor her progress better and achieve that goal of running a 10KM faster. …

I said that if she did not set a goal then whatever time or distance she covered would be the GOAL…she would then be satisfied with her achievement as there was no goal set prior and whatever she did was enough or what it should be..

Then it dawned on me. This could also be used in the context of my financial life. Without proper financial goals. whatever i was getting now, whatever i was experiencing now, wherever i was financially was what it should be..as i had no other goal…

I realized that perhaps the way to get out of this contentment rut, was to set a goal…

Some obvious goals to set were a bigger house, a bigger car, a bigger bank balance and so on…but what if i could not feel the emotional need or wanting of this goal…what if i loved my current house or my current car…how would i be able to tap into the emotion of WANTING…

Again similarly to running, it need not matter whether you like or want to achieve the goal or not . Like in running, I follow a program to help me achieve my ultimate goal. Maybe this week i need to do a long run of 16KM followed by intervals…i may not like this particular goal but by doing it and completing it, it will bring me closer to the ultimate goal of finishing the marathon or whatever the program is meant for.

At least with a goal, i would have something to strive for, something to keep me on the program, something i could use to monitor my progress…so whether i need or want another car, whether i want or need a bigger house, i should just focus on it and do my utmost to get it….and then perhaps through this i would be able to achieve my ultimate goal of achieving financial freedom….

So over the next few days, i plan to set outrageous goals..things i want, places i want to be, food i want to eat, people i would like to meet….

Financial freedom here i come