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June 3, 2008

Setting Goals: Long Term and Short Term Goals

One of the key ingredients for successfully managing your time is identifying your goals. Goals are what will keep you motivated and focused – both essential to being productive.

What do goals have to do with time management?

When you have determined where you want your life to be in one year – or five – or even 20, it will have an impact on what you do TODAY. A person who dreams of being a lawyer will not have much success obtaining that goal if they don’t first make the time to fit studying and school into their schedule today.

Many long term goals will have short term goals that lead to them. Not only does this make practical sense (i.e.: getting accepted to University is a shorter term goal than becoming a partner in a law firm) but it also helps you from becoming overwhelmed or losing sight of your goals.

If you are trying to manage your time it is because you recognize that there is a limited supply and it is all valuable. While responsibilities at work and home may be what dictates how you plan your day, shouldn’t all (or most) of this time work in harmony with your goals? This may mean some big changes, or it may just mean adjusting some things in your routine.

When you start planning your time with a goal in mind it is easier to appreciate the benefits of what you are doing and prevents you from getting caught up in time wasters – activities that use up your time but are ultimately unprofitable either in money or your personal life.

Choosing Goals Wisely

If you are currently making $5/hour and can’t cover your bills you may decide that your goal needs to be making more money. Take some time to figure out exactly what you’d like to be doing with your life. Acknowledge that this may mean spending time getting an education rather than taking on another low paying job which will fill your financial needs but keep you in a cycle of working endless hours to make the money you need.

Or maybe you find your work time is eating into the time you want to spend with your family. That family will grow and move away so what you do to make more time for them is important NOW. Identifying these goals will help you make decisions to make better use of your time.

Setting Long Term Goals

Before you say “my goal is to retire to the Caribbean” it is important to take stock and analyze your situation from a different perspective. While you may truly be able to retire to the Caribbean, HOW will you do that? A new job? A higher income? Less responsibilities?

Long term goals are excellent motivators. They help you see beyond today’s work and remind you that there is a greater purpose for the time you are spending today. If you find a task tedious you should think about how doing it fits into your goals. Making your daily tasks become choices can ease some of the burden because we are in control of our day rather than having it control us.

On the other hand, if we realize many of the time consuming activities we do have no bearing on reaching our goals perhaps we have to take them out or at least reduce the time we spend on them.

Your long term goal may be to spend more time with your family. Make your goal specific and give it a date to be accomplished. Perhaps you determine to work part time. Write down the date this will take effect and put it on your calendar. It may be that you anticipate it will take two years to achieve this goal. Pick a date and put it where you can see it every day.

Now you must set short term goals…

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