Comments on: Planning and Goal Setting Week: The Basics http://www.consumerismcommentary.com/planning-and-goal-setting-week-the-basics/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 12 Feb 2012 20:01:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: ispf http://www.consumerismcommentary.com/planning-and-goal-setting-week-the-basics/comment-page-1/#comment-76695 ispf Wed, 03 Jan 2007 20:53:27 +0000 http://www.consumerismcommentary.com/2006/12/29/planning-and-goal-setting-week-the-basics/#comment-76695 Thanks for the mention! I appreciate it. Thanks for the mention! I appreciate it.

]]> By: Golbguru http://www.consumerismcommentary.com/planning-and-goal-setting-week-the-basics/comment-page-1/#comment-76095 Golbguru Sat, 30 Dec 2006 13:36:38 +0000 http://www.consumerismcommentary.com/2006/12/29/planning-and-goal-setting-week-the-basics/#comment-76095 That SMART concept really works...but unfortunately most people don't follow it for goal setting. Especially the "attainable" part. Totally agree with Jim there in the first comment...goals should be attainable yet "challenging". Also, it helps to ask "why" each time you set some numerical target (monetary or non-monetary). Most people will usually get bogged down by the numbers race and quickly forget the big picture. That SMART concept really works…but unfortunately most people don’t follow it for goal setting. Especially the “attainable” part.

Totally agree with Jim there in the first comment…goals should be attainable yet “challenging”.

Also, it helps to ask “why” each time you set some numerical target (monetary or non-monetary). Most people will usually get bogged down by the numbers race and quickly forget the big picture.

]]> By: makingourway http://www.consumerismcommentary.com/planning-and-goal-setting-week-the-basics/comment-page-1/#comment-76076 makingourway Sat, 30 Dec 2006 11:55:33 +0000 http://www.consumerismcommentary.com/2006/12/29/planning-and-goal-setting-week-the-basics/#comment-76076 I'd like to emphasize the importance of considering values in setting goals. My initial goal setting attempts did not integrate values and focussed purely on monetary achievement. When integrating values several things happened: 1. I identified important non-monetary goals (what good is money without a loving spouse to share it with?) 2. Identified additional monetary goals derived from my non-monetary goals (vacation budgetting, date with wife budgetting, etc...) While creating my life-long financial plans it also became apparent that non-monetary goals become even more important drivers of goals; i.e. what do you want to do for your children's wedding, education, where do you want to do in retirement? Ultimately even non-monetary goals have costs - if not in money, in opportunity costs. Regards, maingourway PS Here's a link to my goals for 2007: http://makingourway.blogspot.com/2006/12/financial-goals-for-2007.html I’d like to emphasize the importance of considering values in setting goals.

My initial goal setting attempts did not integrate values and focussed purely on monetary achievement.

When integrating values several things happened:

1. I identified important non-monetary goals (what good is money without a loving spouse to share it with?)
2. Identified additional monetary goals derived from my non-monetary goals
(vacation budgetting, date with wife budgetting, etc…)

While creating my life-long financial plans it also became apparent that non-monetary goals become even more important drivers of goals; i.e. what do you want to do for your children’s wedding, education, where do you want to do in retirement?

Ultimately even non-monetary goals have costs – if not in money, in opportunity costs.

Regards,
maingourway

PS Here’s a link to my goals for 2007:
http://makingourway.blogspot.com/2006/12/financial-goals-for-2007.html

]]> By: jim http://www.consumerismcommentary.com/planning-and-goal-setting-week-the-basics/comment-page-1/#comment-76010 jim Fri, 29 Dec 2006 21:55:43 +0000 http://www.consumerismcommentary.com/2006/12/29/planning-and-goal-setting-week-the-basics/#comment-76010 I think stretch goals are key and they should be attainable yet difficult to do so. That doesn't mean that your "regular" goals should be a cakewalk though, it's about striking that fine balance. I see regular goals as things I want to make sure I accomplish as a group and stretch goals as those that are attainable but require a significant amount of additional effort. You don't want to hit a stretch at the cost of hitting a regular. I think stretch goals are key and they should be attainable yet difficult to do so. That doesn’t mean that your “regular” goals should be a cakewalk though, it’s about striking that fine balance. I see regular goals as things I want to make sure I accomplish as a group and stretch goals as those that are attainable but require a significant amount of additional effort. You don’t want to hit a stretch at the cost of hitting a regular.

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