Helpful Tips For Goal Setting To Reach Financial Freedom - Win The Wealth Game

Helpful Tips For Goal Setting To Reach Financial Freedom

By Dr. Daleen Smal | Personal Development

Feb 26
Goal setting financial freedom

When you’re stuck, you can become unstuck by putting it on your agenda. This is exactly what successful people do. They use goal-setting to get unstuck. In the same way, you can use goal-setting to reach financial freedom.

1. Manage Your Mindset To Reach Financial Freedom

Our mindset is powerful and plays an important role in what we achieve or not achieve. What you believe is what you will achieve. But you can change your mindset if it’s preventing you from reaching your dreams.

If you think you don’t deserve wealth, put it on your agenda to question those beliefs. When you think you don’t know how to start a business, put it on your agenda to find out how. If you shift responsibility away from you and use blaming, put it on your agenda to find one thing that you can do differently to change your results.

When you put things on your agenda and do it, your life will move forward to where you want to go.

You will hear it multiple times from many different people. It is who you become that will bring you success. Because if you could have achieved the success you want by the way you believe and act now, you would have achieved it already. You need to change what you think and do.

Key Points:

  • Our mindset is powerful and plays an important role in what we achieve or not achieve. What you believe is what you will achieve.
  • When you put things on your agenda and do it, your life will move forward to where you want to go.
  • It is who you become that will bring you success. You need to change what you think and do.

2. Manage Your 24 Hours Every Day To Reach Financial Freedom

What do you do with your daily allotted 24 hours?

Everybody gets 24 hours in a day. No one on earth gets less than or more than 24 hours in a day. You, Bill Gates, and the beggar on the corner all get 24 hours every day.  

There is no favoritism in terms of time allocation. We get only 24 hours every day and therefore time is the scarcest of all things on earth.

But here’s the important point. What people do during those 24 hours is what separates the successful from the unsuccessful. Are you simply keeping yourself busy with meaningless things or are you busy creating your exceptional life?

Key Points:

  • There is no favoritism in terms of time allocation. We get only 24 hours every day and therefore time is the scarcest of all things on earth.
  • What people do during those 24 hours is what separates the successful from the unsuccessful.

3. Plan Your Life If You Want To Reach Financial Freedom

I think most of us played with Lego bricks, so we know what they are. In fact, in February 2015, Lego replaced Ferrari as the "world's most powerful brand”.

Imagine your dream or big goal as being a 4 km railway build with Lego bricks. When you plan, you are plotting out, step by step, which brick must be put where to build the end product.

In the process, you will break your big goal down into smaller pieces and figure out who is going to do what and when with these millions of bricks to form a beautiful railway.

When you set your goals, you will have long-term goals that are 10 or 20 years from now. Break them down into a 5-year time frame, and then further down into a 1-year plan. Next, you break the 1-year plan down into quarterly goals, monthly goals, weekly goals, and finally daily tasks.

All these daily little tasks will eventually form your beautiful life of wealth and freedom. But you have to plan it out in detail.

Key Points:

  • Break your big goal down into smaller pieces and figure out who is going to do what and when.

  • You have to plan out in detail how you will reach financial freedom.

4. Stay On Course To Reach Financial Freedom

What you have done by breaking up big goals into smaller goals, is reverse-engineering from the endpoint to the starting point.

If reverse-engineering sounds complicated, think of it as something similar to check-points on a map.

When you plan to go on a road trip, you first decide where you want to go and then work back to where you are. You plan to drive to Point A, continue to Point B, and then to point C. So you continue planning until you reach your final destination.

Reverse-engineering is simply pinning down where you want to go, figure out where you are now, and working out the steps to get from here to there.

But you need to have a mechanism to check if you are still on course to where you want to go.

Goal setting and checking work much the same way a pilot steers an airplane. The airplane may encounter headwinds or crosswinds that blow it off course. The pilot constantly checks direction and make changes to stay on course and keeping to the flight schedule.

A timeline is critical. If you do not give yourself a time limit to complete a task, there is a lack of urgency and you may never start, let alone finish.

Setting and meeting small goals is a way in which you measure your progress, making small adjustments, stay on course, and keep to the schedule.

All these small little wins along the way also give you momentum. And momentum is a powerful force in achievement.  

Key Points:

  • Reverse-engineering is simply pinning down where you want to go, figure out where you are now, and working out the steps to get from here to there.
  • A timeline is critical. If you do not give yourself a time limit to complete a task, there is a lack of urgency and you may never start, let alone finish.
  • All these small little wins along the way also give you momentum. And momentum is a powerful force in achievement.  

Conclusion

Success depends on how you manage your mindset. What you believe is possible for you will determine what you achieve.

Secondly, success depends on how you manage your day. Do you squander your 24 hours as if time is not scarce or do you use it fully to your benefit? Make sure you use your daily 24 hours wisely.

Master these two skills to reach financial freedom and a bright future.  

Benjamin Franklin said: “By failing to prepare, you are preparing to fail.”

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