MorphGoals - in real life

50/70/100 in real life.

Over the last three weeks, we walked through a real-life example of our 50/70/100 principle.  Most financial situations can be analyzed through this prism.  But what comes next?  The mental exercise of recognizing there is an issue isn’t enough.  We desire to experience meaningful and noticeable change in our finances.  So how can we turn the analysis into concrete action steps?

MorphGoals.

A MorphGoal is an informed target that provides direction and causes a person to reach beyond what they think is possible when they start.  Not only do your finances change, but also how you feel about them. 

But why is goal setting important?  Dr. Gail Matthews of the Dominican University of California conducted a study on the connection between goal setting and achievement.  The results of the survey were encouraging for those who took the time to consider goals and strategize methods to achieve those goals.  The survey found that 1) accountability, 2) public commitment, and 3) written goals were foundational to individuals accomplishing their objectives.  Goal setting is powerful!! 

With that in mind, let’s look at the attributes of a MorphGoal, and apply those to my desire to reduce my grocery bill. 

MorphGoal:  Consistently reduce monthly grocery spend by 50% over the next 90 days (October through December).  Transfer the unused funds into brokerage account twice a month, saving for now and my future.  This goal challenges my spending and requires me to discern between immediate needs and future wants to develop stronger habits.

There is no magic to the format of setting a goal.  Paper versus digital matters little - find what works for you.  I just hope you set aside the time to direct your future.  You and your finances are worth the effort!!

Let’s start morphing for 2025!  Download a MorphGoal worksheet here.  The 50/70/100 principle. What is the 50% uncomfortable, the 70% incremental and 100% vital that you can think about and do? If you want to talk about it, drop us a note at letstalk@studiomfinancial.net. Until we meet…keep working on the change.