Achieving Goals Through Habits

Image source: topsecretwriters.com

Taking the next step, step 11, is to make SMART goals.

Goals need to be:
Specific: (for example) I'd like to save 20% of my monthly income
Measurable: by saving 20%, I'd have achieved the goal
Achievable: I make sure 20% of income is realistic
Rewarding: it gives a feeling of achievement or self-fulfillment
Trackable: tracking my spending on how I can improve my savings.

Before making SMART goals, more importantly, we need to know how we can make things a habit so any realistic goals made are achievable. James Clear calls it "identity-based habits". We start by planting an identity who we'd like to be, believe it, then truly become the person. For example, I create a new identity that I am a person who lives without debt whilst my current situation is being in debt with five credit cards. I must prove to myself that the new identity is who I am by creating "small wins". A person who lives without debt, surely has a savings account. So, I create a habit that after I receive a paycheck, I separate 2.5% for savings to create small wins. Raise it by 100% to 5% on next month's paycheck and so on. At the same time, I make it a habit to pay down my debt (and stop using the card), starting with the smallest outstanding balance until it is paid off. Shred the credit card. Win.

If you'd like to start with the highest interest and the highest balance, that's also fine. There are two ways to walk up a very steep and tall hill; walk with your head looking up at the highest point of the hill, or you can keep your head down. It is physically and mentally exhausting to look up and constantly saying to yourself that "you're almost there", where in truth you're still quite far. However, if you keep your head down and just keep walking, it might be a little bit easier. Don't focus on how much debt is left to be repaid, just keep focused on paying down the debt. Negotiate with the credit card company on freezing the card and interest because you've made a commitment to pay it off. You can also use services such as those provided by Islamic Debt Solutions.

The key is not in setting the goal, but in creating the healthy habits to actually become the person able to meet the goals made.