Tudor Investassure Pty Ltd

From 1 January 2016, our newsletter will no longer appear in this section. We now send via email  - feel free to subscribe using the panel to the right - or you can connect with us via our social media channels.

Facebook

LinkedIn

Twitter
   

Newsletter Articles

Alisa Camplin's goal setting strategy

Posted by Naomi Rosenthal on Sunday, October 25, 2015 Under: General

Last newsletter, I discussed Alisa Camplin's achievements and mentioned that the way she got there was to use a simple goal setting tool that she'd learnt during high school. She said that it had never failed her.

 

So let's take a quick look at how an Olympic champion sets goals (the sticking to part is another matter altogether! Her level of drive, commitment and motivation is unbelievable and incredibly inspirational.).

Let's use the example of wanting to save a deposit for a home.

 

Firstly, we need to convert this generic sentiment into a well-defined goal: "I will save $50,000 over the next 4 years towards a home deposit".

 

Along the horizontal axis, identify the attributes required to reach your major goal. This might be learning some budgeting skills, seeking out the right savings/investment vehicle, getting a second job, selling some unloved items, credit card reduction strategies, eliminating luxuries.

 

For each attribute, you then identify goals required to meet them. For example, you may have the goal of raising $5,000 from selling unloved items. There might be other goals needed to achieve this, for example, overcoming the emotional attachment to your stuff so you can raise some money from their sale! Or the physical action of selling and distributing your items via your chosen platform - ebay, gumtree, flea markets etc.

 

The left-hand axis plots the time to achievement for each attribute. You may want to sell your unloved items within the first year.

 

The right-hand axis is designed to track and measure your progress. In our example, it would be based on dollars saved and each year you want to have saved a certain amount to achieve the goal. If by the end of the first year you've fallen short of the one year goal, you can easily recalibrate your attributes and their goals to determine how you make up the difference in the following 3 years!

 

While this example is quite simplistic, you can see how the goal planner can be applied to anything you set your heart and mind on.

 

Give this a try with some of your goals and let us know how you get on!!

In : General 


Tags: goal goals "goal setting" "alisa camplin" 

Connect with us.

Free Newsletter! Sign up here.

*indicates required

Click here to go to our newsletter archive.

Responsibility for the content and opinions expressed herein rests solely with the author and opinions expressed do not necessarily represent the views and opinions of Professional Wealth Services Pty Ltd.
The information on this website is general in nature and may not be relevant to your individual circumstances. You should refrain from doing anything in reliance on this information without first obtaining suitable professional advice. You should obtain and consider a Product Disclosure Statement (PDS) before making any decision to acquire a product.
This information is for Australian residents only.
Whilst care has been exercised, the taxation information contained is provided as a guide only and may not be relied upon. If in doubt, you should seek independent tax advice from a qualified tax adviser.

Privacy Policy - click here.

Tudor Investassure Pty Ltd | ABN 74 881 211 664 | Phone: 02 9455 0655 | Email: info@tudorinvest.com.au

Post: PO Box 1142, North Sydney NSW 2059 | Office: Ground Floor, 100 Walker Street, North Sydney NSW 2060

Corporate Authorised Representative of
Professional Wealth Services Pty Ltd Australian Financial Services Licence No. 312047 ATF Professional Wealth Services Unit Trust | ABN 58 174 609 776
Office: Ground Floor, 100 Walker Street, North Sydney NSW 2060 | www.pws.net.au