How to Stick to Your Financial Goals
When I was a freshmen on the track team I had one of the easiest jobs.
I set up the hurdles.
I knew exactly where to put them. They were pretty light.
Then I would watch the runners grimace–especially at the end–as they struggled to clear the obstacles.
The lesson: goals are easy to set up, but they’re hard to clear.
Likewise, your financial goals can be simple to formulate, but can be difficult to stick to. Here’s technology to the rescue.
Stickk.com offers you a way to set up a “commitment contract” and share it with your friends and family to stick to those goals.
The idea is based on some serious research. A Yale University economics professor is a co-founder.
According to Stickk.com’s website:
The Commitment Contract concept is based on two well known principles of behavioral economics:
1.People don’t always do what they claim they want to do, and
2.Incentives get people to do things
Stickk.com helps you put your goal “out there” and draw on the support of your network. You can also get insights and encouragement from the team you assembled.
While Stickk.com can be used for more than just financial goals, it is definitely suited for things like staying on a budget, or committing to regular investments.
If you have any other tips or techniques for sticking to your goals, please let us know!
Related posts:
- The Five Goals Of Investing
- Your Goals for 2009: Step One
- The Most Important Money Move You Can Make
- The Importance of Keeping a Personal Financial Journal
- How To Declare Your Own Financial Independence In Four Steps
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I'm George Ulmer. Matt and I started this blog and launched the Online Investing AI business. Our goal is to develop the technology to allow anyone to retire after working for 10 years.
is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
Nice service! Focus and follow through is always one of the biggest challenges, especially for a one man show. I may just stickk some of my goals for encouragement.
Right on, Salah. Best of luck to you.
For a guide to setting achievable financial goals see also: http://blog.heaps.co.nz/how-to/financial-new-years-resolutions/ I hope this helps