Guest Blog: Goals vs. Resolutions

Guest Blog: Goals vs. Resolutions

Did you set any New Year's resolutions this year or goals for the upcoming months?

Although the beginning of the year can be a great time to plan for the months ahead, often people will jump onto the resolutions/goals band wagon simply because of tradition or because it is expected. Within the first week of the year, 25 percent of resolutions have fallen by the wayside! It makes me wonder: how many of these resolutions were created with care and thoughtful intent?

At times used interchangeably, "resolutions" and "goals" are not necessarily approached the same way. What is the difference? Does it really matter which word we use or focus on for the upcoming year?

Let’s take a quick look.

The word resolution comes from the word “resolve”, which is defined by Webster’s Dictionary as “to make clear or understandable” and “to reach a firm decision about.” It’s very much like setting an intention and making clear in your mind what you desire so that you know where to direct your focus. For example, some people might resolve to be kinder in the New Year, or they might resolve to become healthier.

A goal is defined as “the end toward which effort is directed.” Although similar to a resolution, a goal has a set end point and a desired outcome. A goal is often more defined than a resolution—such as “my goal is to put $100 in savings each month.”

In the best cases, goals not only have an end in mind but also a strategy and a plan on how to get there. This is especially important when working with money, since having a plan and strategy while tracking quantifiable progress seems to help people stay on course.

Whether you see your action as a resolution or a goal, ultimately it doesn’t matter. What does matter is the approach behind it. The first step is to have a well-defined outcome that is meaningful to you.

I invite you to meditate or journal on what you would like to achieve in the next three to six months. What do you most value? How do you want to spend your time? In what areas would you like to grow? Notice I am not referring to the whole year. Starting with a shorter time period makes it feel more realistic and achievable.

If it takes you a whole month to reflect on what you desire for yourself or what changes you want to implement, then take the time to do that! If you don't want to even think about setting goals right now, then take the pressure off! There is no rule about when to start goals. It is best to be clear on your intent and desires so that, when you do start, you can be committed wholeheartedly to the process. Begin with some reflection as you dig deep for what matters to you.


A version of this blog was originally published at Money & Meditation.
Photo by Art Lasovsky on Unsplash.

About the Author

Imelda Villalobos is a personal financial coach. Her firm, Prosper+Us Financial Coaching, inspires others toward financial independence and empowerment by focusing on developing skills to become financially knowledgeable, capable, and self-reliant. Imelda thrives on educating people and coaching them to eliminate debt, customize their budgets, and set financial goals—so that ultimately they are able to lead healthier and more fulfilling lives. You can read more from Imelda on her blog Money & Meditation.