Setting goals means deciding what we want to achieve in the future and planning the steps to reach it. Goals give us direction, motivation, and a clear path to success.
Setting Goals Class 9 Notes
What is a goal?
Goals can be defined as things we want to achieve in life; they give direction to our efforts. Goals help us to be focused and help us to make schedules and work systematically. A goal becomes achievable when you have a proper plan and effective execution.
We are likely to set ourselves many goals in life; all goals follow the same principles. One such goal that is important & essential for our well-being is the financial goal.
It is rare that everyone has enough money to spend on all our wants. Even rich people do not have enough money to meet all their wants. Hence, it is required to set our priorities and plan our financial goals to have a secure future.
How to set goals?
Imagine your life 25-30 years from now, and you want to achieve a career, lifestyle, financial security, etc. This is a long-term goal. Before planning, divide your big goal into short-term goals; these goals act as milestones to guide your progress. For example, suppose you want to become a doctor; then your short-term goals might be:
- Scoring well in science subjects
- Preparing for entrance exams
- Joining coaching classes
Short-term goals
The long-term goals may be broken into many short-term goals. You have to start working on these short-term goals. Once you start practising short-term goals, then it becomes your habit, and you can achieve the long-term goals easily.
Goal Statement
The goal should be SMART, which consists of 5 key elements.
- S (Specific): The goal is specific, like what steps need to be taken to achieve it.
- M (Measurable): We can tell when we have completed it.
- A (Achievable): It should be within our means.
- R (Realistic): Based on the resources available to us.
- T (Time bound): Should be completed within the time frame.
The famous goal statement from John F. Kennedy
The nation should dedicate itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to Earth.
As we can see from the example, we can see that it is
- Specific—of landing a man on the moon and returning him safely to Earth.
- Measurable—We will know that it is completed when the man lands back.
- Achievable—Although it was not easy, it was achievable for scientists to achieve this goal.
- Realistic—With resources committed from the US government, it was possible to think of this mission.
- Time bound—Before the decade is out, it is the time frame of the goal.
Goals should be challenging. If it is not challenging, then they may not be interested after some time. Challenging goals can be achieved by breaking them into smaller milestones. Do celebrate and keep yourself motivated after crossing each milestone.
A good example of financial goal setting is:
I will save Rs. 50000 before 2015 to pay for buying my own vehicle by saving Rs. 1000 per month for the next 3 years from my pocket money.
- Specific: Want to purchase a vehicle
- Measurable: When the Rs. 50000 is saved, then the goal is achieved.
- Achievable: If you save Rs. 1000 per month for the next 3 years, the goal is achievable.
- Realistic: It is possible to save Rs. 1000 per month.
- Time Bound: Goal to be achieved before the end of 2015.
Some examples of unachievable goals.
- I will save Rs 50000 in the next 3 years by saving Rs 1000 every month.
- Note: In the above sentence the specific purpose is missing; you are not sure why you are saving money.
- I will save Rs 50000 in the next 3 years by saving Rs 1000 every month from my pocket money.
- None: The goal cannot be measured in the end. You never know when to stop.
The goal should be something you really want and not something that sounds good. The goal that you set must be consistent with your values. The short-term goals should enable you to attain/achieve the long-term goals.
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