Short-term goals seem easy to achieve. Oh, really?
Do not forget to think again. For a variety of reasons, short-term goals are easily postponed. According to research, 91% of New Year’s resolutions fail.
To achieve short-term goals, such as short-term Financial goals one must use some strategies in order to stay on track and to schedule.
We’ll start by talking about some strategies to achieve important short-term objectives, and then we’ll move on to some financial short-term goals that are well worth your time.
What is the difference between short-term and long-term goals?
Different goals can be assigned different deadlines. A short-term objective may require months or years to complete, while a long-term one may take five to ten years. Plan accordingly and be realistic when it comes to how much time is needed to achieve your goals.
Similarly, breaking each goal down into smaller steps will help to make them feel more achievable. You can also track your progress, and celebrate each step along the way. We’ll get to that in a moment.
How to achieve important short-term goals
Short-term goals are those that you can complete quickly. A short-term objective is one that can be completed in less than a calendar year. These goals are often completed in a matter of weeks or months. These goals could be achieved in a matter of days or weeks.
Short-term objectives usually have a clear path to completion. You’re sure of how to achieve your goal. You can break down the goal into smaller parts and track your progress.
Each of your short-term objectives should follow the “SMART Goal” format.
What are smart goals?
Setting goals is difficult, but the SMART framework will help you turn your aspirations and dreams into realistic objectives. This will allow you to make real progress in achieving your goals! SMART is an acronym for Specific, Measurable Achievable Relevant and Time-bound.
SMART is your best friend when it comes to setting goals! You know what you want to accomplish, how you’ll measure your progress and when you’ll achieve it if you set SMART goals. If you’re looking to improve your health, finances, or personal development, SMART Goals can help you remain focused, motivated, accountable, and on track.
| Smart Goals | Stands for: |
|---|---|
| Specific | Clear and well-defined goals |
| Measurable | Quantifiable goals |
| Achievable | Realistic and achievable goals |
| Relevance | Identifying your values and aligning your goals |
| Time-bound | Goals with deadlines |
Even if you have a clear idea of how to achieve your goal, unforeseen circumstances can still get in the way. We’ll explore how you can overcome these obstacles and achieve success.
1. Schedule your day according to the energy level you experience.
Your productivity will fluctuate throughout the day unless you are The Rock, who has seemingly endless energy and strength. You may not have liked me telling you this, but I had to.
It is best to work on short-term goals when you are feeling energetic. You’re not likely to achieve your goals if you save them for times when you are feeling low. You can use the low-energy times to do leisurely things.How do you determine your daily energy level? What I would recommend is this: . . .
Set an alarm that will sound every 30 minutes when you wake up. In a notebook or graph paper, mark your energy level every time the alarm sounds. This can be done for a day or a week. Then average the results.
You will be able to track your energy levels throughout the day, and make better decisions about how to allocate your time.
It is best to work on your short-term goal when your energy level is at least a “5”.
When I started my blog, I was a night-owl who had the most energy when the sun went down. The mornings are better for me now. What is the lesson? Be sure to adjust your tasks according to your changing levels of energy. You might even make the same radical change as I did over time.
2. Focus on a single short-term objective at a given time.
I don’t know why multitasking has become so popular in our culture. I think multitasking slows down people and leads to poor results. It is much better to focus on one short-term objective at a given time.
These are goals that can be achieved in a short time. They’re not long-term. You can accomplish them quickly and then move on to the next task.It might be worth focusing on your quickest, short-term financial goal first. These are the goals that require the least time. You will have a few quick victories, which will motivate you to continue.
3. Eliminate distractions soldier!
During my service in the Army National Guard I learned to concentrate. There’s nothing more dangerous than losing your focus in battle. It’s important to stay focused and not daydream when you’re near enemies. Avoid distractions, some of which may be set up by your enemy.
You should avoid distractions when you are working towards your short-term financial goals.
There are many distractions when you work at home. You know what I’m talking about if you have children. Kids are great distractions, but they should not take you away from or other obligations.
Let’s say, for example, you and your spouse have a budget meeting every month. It’s best to have the meeting after the children are in bed, rather than when they are throwing toys at each other.
Technology can also be a distraction. While technology can be a great tool to help you achieve your financial goals, like using Betterment and Personal Capital, it can also distract you with alerts not relevant to your task (like texts from your second-great aunt Martha).
How can you avoid technological distractions in your life? Apple devices make it easy. On your iPhone, turn on Do Not Disturb. On your Mac, you can do the exact same thing. You can work in peace, and focus on your work.
4. Find your motivation by digging deep.
You need to be motivated to achieve short-term goals just as you would for long-term ones.
What is your reason for starting a budget? You’ll get tired of the numbers crunching if you don’t know why you want to start a budget.
Imagine, for instance, the benefits of creating a budget. How will this improve your relationship with spouse? How will you stay on track to achieve your long-term goals? You would be surprised at how many different motivations there are for the most mundane of short-term financial goals.
Important short-term financial goals
You’re ready to go. You’ve got some strategies to achieve your short-term goals. But which ones are worthwhile? Next, we will discuss this topic.
1. Budget your expenses.
Surprise! Just kidding. You’ve probably guessed it.The truth is, Budget for a Working Budget A proactive budget is the foundation of any financial plan. Budgeting is a proactive approach that not only shows you how much you have spent but also what you want to spend. You can also check out You can also find out more about the following: Should not Spend – this is huge.
By working on your budget over time, you will find new ways to reduce your expenses, and discover new reasons for increasing your income.
2. Pay your bills on-time by creating a system.
There are many ways to pay bills thanks to technology. You can pay online through your bank, through merchant websites, with a debit or credit card or with checks.
You probably pay your bills in a variety ways. Do you have a system that works? How will you find out if your card has expired and the merchant is unable to collect money via auto-pay? Do you trust the merchants and banks to notify you when your credit card is about expire?
That might work. It might be easier to create a spreadsheet that allows you to keep track of your bills, and the way they are paid. You can create reminders for payments in your favorite apps!
3. Take out insurance for yourself and your family.
Have you got life insurance? Do you have disability insurance? Umbrella insurance? Renters insurance is another option. These policies are often overlooked.
Find out the best insurance for you and ensure that you are covered.
Short-Term Goal Examples
You’re in luck if you’re looking to achieve short-term goals. Here are some of the most popular ones from the Good Financial cents Facebook page.
Joseph Hogue, PeerFinance101.com, shares his goals.
- Launch four short-format investment books as a series in December
- Post three blog posts per week on each blog
Financial goals
- Rebalance my portfolio allocation heading into my 40s. Although I’m still a few years away (and don’t usually try to time the market), after nearly 7 years of bull markets, I will rebalance my portfolio a year sooner and switch to a new allocation.
- Purchase and renovate a second rental property in Medellin (Colombia)
Life goals
- Use social media for personal connections more than for business. (I am aware of the irony, as I write this on my blog).
- Reconnect with old high school friends
- Start a hobby unrelated to crowd-funding or personal finance
Kate Dore of Cashville Skyline is offering:
- By the end of 2025, you should have a net worth of $200,000.
- Rent my basement after renovation.
- Earn $10k in side income before the next FinCon.
- Lose 20 pounds
Jacob Wade, from iHeartBudgets.com, shares his ambitious short term goals:
- Complete kitchen remodel by the end of 2022
- Pay off student loans by the end of 2022
- Launch of online blog course in March/April 2020
- My wife and I will max out our Roth IRA in 2023
- Remodel your master bathroom in 2023
- Build a deck/patio on your backyard by spring 2023
- Create raised beds in the side yard by April 2023
- I’m going to get my butt in shape! Get back to T-25 workout plan
These are some examples of good short-term goal ideas. You can also use these examples to help you come up with your own ideas for short-term goals:
| Financial Goal | Specific | Measurable | Achievable | Relevance | Time-bound |
|---|---|---|---|---|---|
| Emergency Fund | Save $10,000 with a high-yielding savings account | Yes, | Yes, | Yes, | Age 30 |
| Retirement savings | Save at least $100,000 for retirement by contributing 10% of your income annually to a 401 (k) or an IRA. | Yes, | Yes, | Yes, | Age 30 |
| High-interest debt | Get rid of $5,000 in credit card debt | Yes, | Yes, | Yes, | Age 30 |
| Credit Score | Credit score of 750 or more is the minimum requirement to improve credit score | Yes, | Yes, | Yes, | Age 30 |
| Budgeting | Create a budget for each month, track your spending and save $5,000 | Yes, | Yes, | Yes, | Age 30 |
| Education and Career | Investing in career or education development | Yes, | Yes, | Yes, | Age 30 |
| Investing | Invest $5,000 into stocks, mutual funds or other investments | Yes, | Yes, | Yes, | Age 30 |
| Pay down the home loan | Saving $20,000 on the down payment of a house | Yes, | Yes, | Yes, | Age 30 |
| Estate plan | Create an estate plan and will | Yes, | Yes, | Yes, | Age 30 |
| Living Below Your Means | Spend less and save more: 10% reduction in expenses, 5% increase in savings | Yes, | Yes, | Yes, | Age 30 |
How do I keep track of short-term goals?
I have two types of short-term goals: quarterly (90 day) goals and weekly goals. Every quarter, I make a list of my goals. Then I ensure that my weekly goals are on track to achieve those goals.
To stay on track, I have recently created my weekly goals every Sunday. I’ll create a note in my iPhone. But that’s not all.
Then I take a screenshot of my weekly goals, and set it as my lock screen. Every time I turn on my phone, I can see the top four goals I have to achieve that week. This is how it looks in my phone:
You will also see that I have listed my daily success habits I practice each day.
This includes doing the Love Habits together with my wife, writing my Five Minute Journal and knocking out fifty push-ups. I also pray, complete my crush your day PDF from my 10x Goals Acceleration course, before going to bed.
This powerful combination has helped me achieve my short-term goal to the next step.
The Bottom Line: Short-Term Goals Examples
You have the answer! Setting short-term objectives is a great way to improve your skills and gain momentum for success.
You can achieve your goals by following the SMART framework. Short-term goals do not have to be boring.
Short-term goals are exciting and rewarding, whether you’re saving for an adventure, learning a new skills, or connecting with new friends.
What are you still waiting for? Start setting short-term goals now!
