There are a lot of expert opinions on how to properly set goals. I am no expert. However when I learn something through trial & error I like to pass my humble opinion along 🙂 One huge mistake you can make when goal setting is being to vague.
Basically, if you don’t know exactly what your goal is, you won’t know if you’re meeting it.
Today an example of this occurred to me as I was doing laundry. I realised that I sometimes over purchase second-hand items because they are a good deal. So I thought about my goal… *Save money on clothing*. I bet many of you have had a similar goal, but it may be too vague. This goal could be interpreted in two (or more) very different ways…
1) I want to get all of my clothing at a cheaper price (but not necessarily save money overall)
2) I want to buy second-hand & sale items to reduce my clothing budget
The first way allows you to continue to buy any item of clothing if it is ‘a good deal’ but you won’t save money~and may spend more 😮
The second way defines your goal of reducing the clothing budget, so if you have spent it & you continue to pick up good deals…then you have not met your goal.
I am not saying you couldn’t choose to spend on clothing, but you would have to admit (at least to yourself) that doing so isn’t within the goals you have set.
The point is not how much you should spend on clothing, or that you can’t have the first goal. It is that to truly keep your budget under controll, you have to set goals & know what they mean to you 🙂