Luis Pazos 
You might think short-term goals are easy to tackle. Think again. Surprisingly, 91% of people don’t stick to their New Year’s resolutions, showing how easy it is to put off short-term goals. To stay on track, especially with financial goals, you need effective strategies.
First, let’s outline some strategies for achieving short-term goals, then discuss some financial goals worth pursuing. Get your notepad ready!
What’s the Difference Between Short-Term and Long-Term Goals?
Short-term goals might take months or sometimes even years, whereas long-term goals can take 5-10 years or more. Be realistic about your timelines and break your goals into smaller, manageable steps. Tracking your progress and celebrating milestones can make these goals feel more achievable.
How to Achieve Important Short-Term Goals
A short-term goal should take less than a year to complete, often just a few weeks or months. These goals have clear steps, so break them down and track your progress. Each goal should follow the SMART criteria: Specific, Measurable, Achievable, Relevant, and Time-bound.
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Find Your Daily Energy Peak and Schedule Accordingly
Productivity fluctuates throughout the day. Work on your short-term goals when your energy levels are high. Rate your energy every 30 minutes for a day or a week to find your peak times, and plan your tasks accordingly.
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Work on One Short-Term Goal at a Time
Multitasking can be counterproductive. Focus on one short-term goal at a time for better results. Start with the quickest goals to build momentum.
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Eliminate Distractions
Like in the Army National Guard, staying focused is crucial. Avoid distractions, especially technology, by using features like "Do Not Disturb" on your devices. If you have kids, plan tasks for when they’re not vying for your attention.
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Dig Deep to Find Your Motivation
Understand why you want to achieve a particular goal. Whether it’s budgeting to improve your relationship or other financial goals, having a strong motivation will help you push through challenges.
Important Short-Term Financial Goals
Now that you have strategies, let’s look at some financial goals worth pursuing.
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Create a Budget
A solid budget is the backbone of good financial planning. It shows you where your money goes and helps you control your spending and find ways to save.
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Create a System to Pay Your Bills on Time
Use technology to set reminders and track all your bills in one place, ensuring you never miss a payment due to an expired card or other issues.
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Get Appropriate Insurance Policies for Your Family
Make sure you’re covered with life, disability, umbrella, or renters insurance. Find the best policies to protect your family.
Short-Term Goal Examples
Here are some real-life examples of short-term goals to inspire you:
- Launch several short-format investing books.
- Publish regular blog posts.
- Rebalance a financial portfolio.
- Renovate a rental property.
- Build personal connections on social media.
How I Keep Track of Short-Term Goals
I categorize my goals into quarterly (90-day) and weekly tasks. Every Sunday, I list my weekly goals and make them my phone’s lock screen background for constant reminders. This method keeps me focused and aligned with my long-term objectives.
The Bottom Line
Setting short-term goals is a fantastic way to boost your skills, build momentum, and achieve your long-term vision. By following the SMART framework, you can turn aspirations into actionable plans. Short-term goals can be exciting and fulfilling, whether you’re learning something new, connecting with people, or saving for an adventure. So grab a pen and start setting some goals today!
FAQs – Short-Term Goals
Short-term goals are crucial for maintaining direction and purpose, breaking down bigger goals, building confidence, and boosting productivity. They help you stay motivated, improve your skills, and make consistent progress. Prioritize your short-term goals based on urgency, importance, and alignment with your long-term vision, and focus on a few at a time to avoid overwhelm.
