Goal Setting with Genar & Joy
Welcome to the first episode of 2024 for Financially Naked: Stories from The Financial Gym of 2024! Today's hosts are Joy and Genar, two Certified Financial Trainers at The Financial Gym. They're here to kick off the new year with a topic that's not only timeless but takes center stage as we usher in a new year—goal setting.
At The Financial Gym, helping clients set and achieve their financial goals is at the core of what we do. Whether you're a first-timer setting financial goals or eager to try something new, today's episode is for you. Genar and Joy share quick and actionable tips to empower you in establishing and pursuing your goals.
Podcast Notes
The most important step of goal setting is understanding what YOU want. Not what you think you want or what society tells you to want. Really pause and think about what you want to accomplish.
Journaling is a great reflection tool. Write down the qualities of your ideal life and note any patterns. This will help you understand what is important for you and what can happen later.
Do this exercise with curiosity and without judgment. Once you have your list, think about why you want those things. This will help you understand more deeply what you want and can let go of.
The more specific and personal you get with the goals, the more successful you will be. Sometimes, we don't follow through when we make goals because the why behind the goal needs to be stronger.
Ultimately, a goal is a desire for change. Change can bring growing pains and be uncomfortable at times. A strong understanding of why your goal is the goal helps you stay motivated in those challenging times.
Exercise: Reflect and ask yourself, does achieving this goal excite you? How do you feel in your body when you think about accomplishing that goal? Do you get excited, or does your body shut down?
How do I set specific goals?
Financial goals are personal and nuanced, so no set of uniform goals is perfect for everyone. Everyone's idea of a goal and success will be different. That's why we want to get specific.
Once you have your list of goals, it's time to turn them into an actionable plan. Pick a goal from your list.
If you need help figuring out where to start, take it one step at a time. How much will the goal cost? When do you want to accomplish it? What milestones can you set between now and then to keep you motivated?
Get curious. It's okay if you don't have all the answers; this plan is just a direction. Once you know the cost and timeline, you can break it down into concrete action steps. What are you doing now that supports this goal, and what needs to change?
Make the goal part of your identity. This is a tip from Atomic Habits by James Clear. What does someone with your goal look like? What actions do they take? How can you embody that?
What beliefs and behaviors must you let go of to embody this goal? If you believe you'll always be bad with money, how can that shift? What habits can you change or add that are small but that will move you in the right direction?
How can I stay motivated to accomplish my goals?
Be realistic about what you can accomplish. When you're excited, setting many goals and adding too much to your plate is easy. It can be hard to stay motivated when we're spread too thin and not making progress. Set goals that are both achievable and some that are more of a stretch.
It is our human desire to take on too much. It's a form of self-sabotage because it gives us a subconscious 'out' to not accomplish the goal.
Choose 1-3 meaningful goals, and work towards those. You can set more goals if you accomplish them. When you focus, you progress faster, and other areas of your life may improve in the process.
You can always set more goals if you accomplish a goal faster than you expected. Achieving the goal will give you a sense of pride and build momentum and confidence to move forward.
Accountability can be a powerful tool, but pick your accountability partners wisely. Oversharing our goals can invite unwanted feedback. You may need to set boundaries, and that's okay. Find a specific community or partner who will support you in your goals.
If you need help figuring out where to start, a Trainer at The Gym can help! A trusted friend or coach are all options for strong accountability partners. Seeking knowledge is the first step in learning anything new.
How to deal with setbacks & pivoting
You will always grow and change as a person, and so will your goals. If something no longer excites you, it's okay to let it go. This skill takes a lot of self-awareness, time, and practice.
You can choose to make a change at any moment. You do not need to have a grand awakening or hit rock bottom.
Understand when you set goals, there will be challenges and setbacks. When you know that going in, it feels more like a fact than a failure when it happens. Learn what you can from the experience and keep on going.
Don't give up on your goals because the journey or goal isn't perfect. Small, sustainable actions can lead to significant change over time.
Just because you write a goal down does not mean it is set in stone. You can change and adjust your goals at any time. This is a pivot, not a failure.
Be kind to yourself and lead with compassion. Let go of your shame and focus on what truly matters to you. You're not a bad person; you're just learning a new skill.
If you want to work with a Certified Financial Trainer to help figure out your financial goals, schedule a free warm-up call today! If you have any ideas or questions for the show, send an email to trainerpodcast@fingyms.com.
Resources
Atomic Habits by James Clear
Meet The Trainer
Meet Joy Liu, Level 2 Certified Financial Trainer
Meet Genar Mendez, Level 2 Certified Financial Trainer