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The importance of Goal setting.
The first and foremost factor is to have a goal, to realize the importance of Goal setting to build your wealth. If you are in a job for the past few years, and your bank balance or wealth is small, it indicates you had no goals. Yes, the wealth grows after having the goals. Goal setting has a serious role to play in everyone’s life. The term “Goal setting” means not only deciding the goal. It includes preparing a plan and working towards achieving the goal.
The Meaning of wealth.
One who earns more income has more wealth is not the truth. If it is truth means persons earning the same income should have the same wealth. The fact is wealth grows with a person who sets his goal. Consider 100 people earns the same income every month. Now collect the wealth of the 100 people and divide the wealth into 100 equal parts and distribute to them. Now the 100 people are having the same wealth and earning the same income. Check them after five years, they will have different wealth.
This is because wealth grows with the person who has goals and financial literacy.
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Wealth not only means money or financial assets. Meaning of the wealth differs according to individual goals. For a person whose goal is to become a singer, his voice is wealth. For a fitness freak, health is wealth. Likewise, wealth differs based on the person’s goal.
The caterpillar story.
One day famous French botanist Jean -Henri Fabre experimented on pine processionary caterpillars. The characteristic of these caterpillars is they follow the silken trail of preceding caterpillars by nature. The French botanist Fabre placed the caterpillars around the circumference of the flower pot’s rim. And each caterpillar’s head touches the tail of the preceding caterpillar. Now Fabre placed the caterpillar’s favorite food, pine needles, in the center of the flowerpot. But each caterpillar followed the preceding caterpillar, thinking it is moving in search of food.
After seven days, they started to die one by one due to hunger. These caterpillars moved in circles for seven days in search of food. But the food was available less than five inches from them. These caterpillars locked in their set lifestyle and unable to break the chain is the reason for these caterpillar’s situation.
Many people made mistakes like the caterpillar in their life and achieve a small fraction of the wealth that life has to offer. Even though unlimited wealth is available within their reach, they attain only less because of madly following the crowd without any goal. If you are doing something, you will achieve something. And should not believe that every activity is an achievement.
Goals give direction.
Consider you are on a trip from Chennai to Bangalore. What will you do now?. Whether you catch the bus/train/flight randomly or get into the vehicle which goes to Bangalore. After reaching Bangalore, whether you will inform the taxi driver to go around a while or inform him the name of the hotel you need to. For a simple trip. have plans like when to go, where to go, where to stay, and so on. These plans avoid roaming and help to reach the destination quickly. The benefits of planning a trip will help you think about the wonders of having goals in life. Goals give you the direction to your effort. Moreover, goals reduce unwanted expenses.
Goal setting gives you a clear idea of what you desire to achieve. It makes your time, energy, and efforts work towards the thing that matters to you. You will get a feel of living life consciously. Without goals, you may do works and get a feeling of achieving many things, but they are not what you want. According to the famous speaker Zig Ziglar, “If you aim at nothing, you will hit it every time”.
How to set up a goal?.
A detailed analysis should be on goal setting. A Goal is your destination, it could be anything you want to become, anything you should do like going on a trip and even earning money to purchase an object you like. Goals should be quantifiable, specific, and challenging.That forces you to put your efforts to achieve beyond what you did in the past. You should decide whether you need to this goal or just for recognition from other people. And if you don’t have a clear and convincing reason to justify why you need it, then leave it off, it is not your’s goal.
You should have both short-term goals and long-term goals. Purchase a house within ten years is a long-term goal. To achieve this you should complete a short-term goal of saving five lakh rupees every year. Fulfilling your short-term goals helps to achieve your long-term goals. Goals should have a time limit to achieve them. Goals are dreams with deadlines with an action plan to achieve.
Reasons why people don’t set goals?.
There are many reasons, but the most common is people think they already have goals. So not have a new one. The fact is what most people consider as a goal are not real goals. The Majority of people say
I want to achieve big things in life, I want to be rich, I want to be happy. These things are not goals but are wishes. A Goal should be measurable, achievable, and completed with time. Like I want to lose weight of 5kg within two months. I want to purchase a car within a year. And another major reason for not setting a goal is they were never taught to have goals. From school days decisions like how many marks you should get, which school you should study, which profession you should choose and even whom you should marry all are decided by paren
Magic of goal setting.
The magic of goal setting is Your ability will grow automatically to match your dreams. Once your goal is fixed and starting to work towards it, you will express the potential you have never been exposed to before. As time moves on, you work more towards the goal and experience the wonders of more opportunities themselves made available to you. Even though you did not know how to achieve the goal, but if you have a clear idea about the Goal. Then you will start a journey of moving towards your goal, and your Goal also starts moving towards you. At the right time and right place, you will meet your goal. It provides a route to reduce your expenses and increase your investments