Many people all over the world set big goals for themselves at the start of the year. “This year,” they think, “will be the year when I pay off my debts.” Or, maybe, “This year will be the year that I lose 50 pounds.”
Often, these goals start off with ambition, but as spring and summer roll around, these goals lose their luster and other things grab your attention. Then, near the end of June, you realize that only six months remain in the year … and what happened to your big plans?
All hope is not lost. Here are four great strategies you can use to reevaluate your goals at the halfway point of the year.
[See: 10 Foolproof Ways to Reach Your Money Goals.]
Is Your Goal Still Right for You?
The first question to ask yourself is whether this lofty goal still makes sense. Do you consider it more important than the things you do to counteract it (eat unhealthy foods, not work out, spend your money on less-important desires)?
If you can’t honestly say that your goal trumps the alternative ways you could spend your time and money, you’ll never succeed. That’s because each one of those things represents a choice that comes up again and again in daily life. Do you choose the hard path toward your goal? Or the easy path toward short-term gratification? If you don’t have a strong desire to move toward the goal, you’re going to choose gratification every time.
Before you even try to achieve a goal, make sure you really want it. If you don’t, you’re extremely likely to fail.
[See: 10 Money Leaks to Shut Down Now.]
Did You Set Your Sights Too High?
Once you’re sure you still want to proceed with your goal, start exploring the roadblocks that have prevented you from already achieving it.
For example, you might be able to free up $300 a month by making some tough choices about your spending habits, but then you set a goal of paying off $10,000 in debt this year. That’s simply not going to work.
Instead, choose a realistic pace that suits your lifestyle and set a goal that causes you to push that a little, but not so hard that you have no chance of succeeding.
If you’ve found you can put $300 a month toward paying off your debts early, for example, push it to $400 a month. That would mean that over the next six months, you can aim for $2,400 in debt paydown, which is a pretty nice goal.
[See: 12 Ways to Be a More Mindful Spender.]
Can You Break Your Goal Down?
Another useful technique is to set micro goals that add up to achieving your bigger goal. It’s easy: Just look for things you can achieve in a one-week timeframe that take you closer to your ultimate aspiration.
For example, with your debt-repayment goal, you can make it to your newly adjusted $400-a-month level if you can come up with an extra $25 each week. How can you do this? Maybe you’ll find it by buying certain items generic at the grocery store. Maybe you’ll find it by eating at home one more night a week. Maybe you’ll find it by cutting down your alcohol consumption.
Some folks find it useful to put weekly goals into a personal calendar, usually on Fridays, to keep them on track. Identifying shorter-term goals like this can make it far easier to keep your ultimate goal top of mind.
How Will You Form New Habits?
Hand in hand with weekly goals is the concept of a daily practice. A daily practice is something relatively simple that you do every day to help you progress toward your goal.
For example, if your goal is financial, you might choose to drink your daily coffee at home or at work instead of at Starbucks, or you might take the bus to work or ride a bike instead of driving your car.
Taken together, these strategies can help revive your ultimate goal, giving it a sense of urgency and accessibility that can turn a potential failure into a big success.
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Reassessing Your 2016 Money Goals at the Halfway Mark originally appeared on usnews.com
