GOALS: LONG-TERM AND SHORT-TERM Goals are divided into two types: long and short-term. Long-term goals provide targets to aim toward. They need not be specific; in fact, long-term goals should be flexible because they are distant and circumstances in your life may occur and cause significant changes to your overall goal. Long-term goals help to develop specific short-term goals. Short-term goals are more immediate. They refer to specific outcomes you want to see for your life in the near future (3 to 6 months). Short term goals flow from long-term goals. For example, if you have a long-term goal to purchase a car, your short-term goal might be to get a job and begin saving money. Long-term goals show what is important to you and short-term goals allow you to carry them out. Sometimes immediate or day-to-day goals are necessary to fulfill short-term goals, which are needed to attain long-term goals. For example in order to save a few dollars each day towards the purchase of a car you may have to give up something else, such as smoking or drinking. That would be an immediate goal. CRITERIA FOR SUCCESSFUL GOAL SETTING Successful goal setting is the result of clear thinking and good planning. In order to plan goal achievement, certain conditions must be met: 1. It is achievable. I have enough time to plan and complete my goal, and I have the skills necessary to achieve it. 2. It is believable and realistic. I believe I can do it. I have the necessary knowledge, positive mental outlook, and my goal is realistic. 3. It is specific and measurable. I will state my goals specifying how I will achieve them, and they will be measurable by time, results or both. 4. It is a goal that I am motivated to achieve. It is a goal I want to set and achieve. 5. It is presented without an alternative. By not presenting an alternative, it will not be a divided goal. 1
GOAL SETTING PLAN OF ACTION The following 3 step plan of action will help you in developing your Goal Setting. If you apply this plan of action to your daily life, you will see some immediate changes in your life. STEP 1: STEP 2: STEP 3: Set the goal. (i.e., find a job, should I purchase a new car, get financial assistance, etc.). Ask yourself, Why should I achieve this goal? Outline your plan on paper. EXAMPLE STEP 1: Identify the goal. I want to get my G.E.D. STEP 2: Ask yourself, How would achieving this goal improve my life? I would feel better about myself because I have my G.E.D., and I would be more likely to qualify for a promotion, or take college classes to improve my skills. STEP 3: Write it out. My goal is to get my G.E.D. by the end of the year. 2
PEAK PERFORMANCE INVENTORY Balance is the key to personal growth. Clarify your vision, purpose and values. 1. What is your personal mission statement? (What am I, and what am I going to do?) 2. What are your values? 3. Select your two most outstanding qualities: [ ] Strength [ ] Perseverance [ ] Intelligence [ ] Creativity [ ] Caring/empathy [ ] Leadership [ ] Love/Joy [ ] [ ] 4. Describe how you would like to express those qualities when you are interacting with people. 5. How would you feel if your plan was not working? 6. What would you do if you won a million dollars? 3
Goal setting or making plans for your future puts you in charge of your life. You can determine where you would like to be at any given time. You can set your own goals, plans or dreams, to help you get there. Without fixed goals, plans or dreams, you will become distracted by external forces and events that you have not controlled. ELEMENTS OF ACHIEVING A GOAL Setting goals helps you to focus your thoughts and energy on what you want to achieve. These are the four elements of a goal: 1. A clearly written statement of what you want to achieve. 2. A clearly written plan of action. 3. A timetable for its achievement. 4. A commitment to see it through to a successful end. GOAL SETTING Set goals and objectives Being without a goal is like - Write goals down being in a car without a - Goals must be specific steering wheel. - Goals must be measurable and time-limited Good Ideas I want to find/keep a job. I want to have a budget. I want to have a home. 1. 2. 3. Goals I will get a job within 90 days that will match my skills. I will start learning to develop my Budget to prioritize my finances in 30 Days. I will be ready to buy my first home In 1 year. 1. 2. 3. 4
Start Budgeting Establishing a budget and sticking to it isn t easy, but it s the best way to be in control of your finances and make sure your money is going toward the expenses that matter most to you. Follow the steps below as you set up your own, personalized budget: 1. Make a list of your values. Write down what matters to you and then put your values in order. 2. Set your goals. a. b. Think about what you want to accomplish financially in the next three months, the next year, and the next three years. 3. Determine your income. a. Figure your available income (the amount of your take-home, or net, pay). b. Do not include overtime pay, because you shouldn t rely on that as regular income. 4. Determine your expenses. a. Review your checkbook register, credit card statements, store receipts, and more. Where is your money really going? b. "Fixed expenses," such as a rent, auto, or student loan payments, are easy to determine. c. "Flexible expenses," such as food, clothing, and entertainment, vary from month to month. d. Don't forget about expenses, such as taxes or insurance, that are billed quarterly, semi-annually, or yearly. e. Look into personal finance software programs that offer a budgeting feature to help you track these expenses. 5. Create your budget. a. Think of your budget as a spending plan, a way to be aware of how much money you have, where it needs to go, and how much, if any, is left over. b. Your budget should meet your "needs" first, then the wants that you can afford. c. Your expenses should be less than or equal to your total income. d. If your income is not enough to cover your expenses, adjust your budget (and your spending!) by deciding which expenses can be reduced. 6. Pay yourself first! (After Tithes) a. Saving is a very important part of protecting yourself financially. b. Save as much as you can every month. Even a small amount can make a big difference if you keep it up. c. A great goal is to establish an emergency savings fund large enough to cover three to six months of your living expenses. d. After you have an emergency fund, your savings can go toward meeting your goals. 7. Check back periodically- Be sure to review regularly, make adjustments. 5
My Weekly Budget Date Income.. Tithes (10%). Savings (10%). Program Fees -... Groceries -. Other - ( )..... Other - ( )..... Other - ( ).... Emergency -... Balance -.. Name ( ) Signature Mentor ( ) Signature Comments 6