TL;DR? You can listen/watch this topic on YouTube at https://youtu.be/-YhMBQoJU54
We all have big ambitions when it comes to our money. Whether you want to pay off debt, build an emergency savings, invest more, or scale your business revenue, bridging the gap between where you are today and where you want to be can feel overwhelming.
When you start making changes to your money, it often feels like you are working hard without seeing immediate results. Managing money is a lot like starting a workout routine: doing one workout won't instantly drop 5 pounds or change what you see in the mirror. It takes compounding effort over time.
To help you overcome the friction and stop falling off the wagon, here is a 5-step framework to make your money goals realistic, manageable, and achievable.
1. Pick ONE Single Goal
It is tempting to try to fix every area of your finances at once. You might want to save more, pay off debt, invest, and increase your income all in the same month. However, splitting your attention dilutes your resources.
Imagine you have $100 extra per pay period. If you split that across five different financial goals, you put $20 toward each. You won't feel like you are making real progress anywhere. But if you direct the entire $100 toward one single goal, you will see and feel tangible momentum much faster.
2. Break It Down Into Bite-Sized Pieces
How do you eat an elephant? One bite at a time.
Large goals can feel intimidating. If your goal is to bring in $200,000 in annual business revenue, looking at that six-figure sum as a whole can cause paralysis. Instead, break it down: $200,000 a year equals roughly $17,000 per month. Focusing on generating $17,000 this month is far more approachable and actionable than obsessing over the annual target.
3. Prioritize Frequency Over Consistency
One of the biggest reasons people give up on their goals is rigid expectations of "perfect consistency." You commit to doing something every single day, but life happens—someone gets sick, work gets crazy, or an unexpected bill pops up. You miss a day, feel like a failure, and throw in the towel.
Shift your focus to frequency over consistency. If your target is $17,000 months, you might not hit it 12 months in a row right away. Focus on increasing the frequency instead. Did you hit it 1 month out of 3 this quarter? Great! Next quarter, aim for 2 out of 3. Missing one target doesn't mean you failed; it just means you keep building your frequency over time.
4. Create "Good, Better, Best" Frameworks
Instead of setting a pass/fail goal, give yourself a ladder to climb using the "Good, Better, Best" method (a concept popularized by financial coach Kelsa Dickey):
Good Goal: A baseline target you can reach by doing what you’ve always done (e.g., maintaining your past record of $100k/year).
Better Goal: A target that requires a few strategic improvements or tweaks (e.g., $150k/year).
Best Goal: An ambitious stretch goal that requires new habits or offers (e.g., $200k/year).
This eliminates the "all-or-nothing" mindset. Earning $199,000 on a $200,000 goal isn't a failure—it's a massive win!
5. Make Your Goal Visible and Track It
A goal that isn't actively tracked quickly falls by the wayside like an abandoned New Year's resolution. You need a visual or routine mechanism to keep your goal top of mind:
Hang a progress chart or goal thermometer on your wall or desktop.
Maintain a simple spreadsheet tracker.
Block out a recurring weekly or monthly "money date" with yourself to evaluate your progress.
By tracking your progress regularly, you will clearly see what is working, celebrate small wins, and adjust your strategy when needed.