Christian Financial Perspectives

Christian Financial Perspectives


105 – New Year’s Resolutions, Goals, and Targets

January 06, 2022
Click below to listen to Episode 105 – New Year’s Resolutions, Goals, and Targets






New Year’s Resolutions, Goals, and Targets







105 - New Year's Resolutions, Goals, and Targets

Tune in to listen to how you can make 2022 the year for you!









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The new year is a time for new beginnings. Most of us take the opportunity of a new beginning to make life changes and goals (about 60% of us), but many never succeed in forming these new habits. What is holding us back? Is it fear of failure or just forgetfulness? Is it indifference or complacency? What can help us be more successful in achieving these goals?


Bob and Shawn discuss writing down goals and other methodologies (like the SMAC method – Specific, Measurable, Achievable, and Compatible) to help you be more successful in obtaining your personal goals for the year. Writing down a goal/having a list makes you about 10x more likely to succeed. Not only does writing down a goal put things into perspective, but it also allows you to have a more clearly defined picture of what you want for the future.








HOSTED BY: Bob Barber, CWS®, CKA®
CO-HOST: Shawn Peters








Mentioned In This Episode













Christian Financial Advisors



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Bob Barber Head Financial Advisor of Christian Financial Perspectives and Christian Financial Advisors





Bob Barber, CWS®, CKA®



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Shawn Peters





Shawn Peters



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.dt-shortcode-soc-icons a.soc-icons-6d3d70cdad80c3022dac88b2b035272f:hover {
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.dt-shortcode-soc-icons a.soc-icons-6d3d70cdad80c3022dac88b2b035272f .soc-font-icon,
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.dt-shortcode-soc-icons.single-soc-icon-5f15fdc18e898f69ca188fd0434de05f a {
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.dt-shortcode-soc-icons a.single-soc-icon-5f15fdc18e898f69ca188fd0434de05f {
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.dt-shortcode-soc-icons a.single-soc-icon-5f15fdc18e898f69ca188fd0434de05f:last-child {
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padding: inherit;
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#page .dt-shortcode-soc-icons a.single-soc-icon-5f15fdc18e898f69ca188fd0434de05f.dt-icon-bg-on:before,
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.dt-shortcode-soc-icons a.single-soc-icon-5f15fdc18e898f69ca188fd0434de05f:hover {
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#page .dt-shortcode-soc-icons a.single-soc-icon-5f15fdc18e898f69ca188fd0434de05f:hover .soc-font-icon,
#phantom .dt-shortcode-soc-icons a.single-soc-icon-5f15fdc18e898f69ca188fd0434de05f:hover .soc-font-icon,
#page .dt-shortcode-soc-icons a.single-soc-icon-5f15fdc18e898f69ca188fd0434de05f:hover .soc-icon,
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}
#page .dt-shortcode-soc-icons a.single-soc-icon-5f15fdc18e898f69ca188fd0434de05f.dt-icon-hover-bg-on:after,
#phantom .dt-shortcode-soc-icons a.single-soc-icon-5f15fdc18e898f69ca188fd0434de05f.dt-icon-hover-bg-on:after {
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#page .dt-shortcode-soc-icons a.single-soc-icon-5f15fdc18e898f69ca188fd0434de05f:not(:hover) .soc-font-icon,
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.dt-shortcode-soc-icons a.single-soc-icon-5f15fdc18e898f69ca188fd0434de05f .soc-font-icon,
.dt-shortcode-soc-icons a.single-soc-icon-5f15fdc18e898f69ca188fd0434de05f .soc-icon {
font-size: 16px;
}




Crown Financial Ministries





Crown Financial Ministries



.dt-shortcode-soc-icons.soc-icons-6d3d70cdad80c3022dac88b2b035272f a {
margin-right: 4px;
}
.dt-shortcode-soc-icons a.soc-icons-6d3d70cdad80c3022dac88b2b035272f {
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.dt-shortcode-soc-icons a.soc-icons-6d3d70cdad80c3022dac88b2b035272f .soc-font-icon,
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#page .dt-shortcode-soc-icons a.single-soc-icon-af0f10ddd57cbfcafe4c05e97ba9224d.dt-icon-bg-on:before,
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#page .dt-shortcode-soc-icons a.single-soc-icon-af0f10ddd57cbfcafe4c05e97ba9224d:hover .soc-font-icon,
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#page .dt-shortcode-soc-icons a.single-soc-icon-af0f10ddd57cbfcafe4c05e97ba9224d:not(:hover) .soc-font-icon,
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.dt-shortcode-soc-icons a.single-soc-icon-af0f10ddd57cbfcafe4c05e97ba9224d .soc-font-icon,
.dt-shortcode-soc-icons a.single-soc-icon-af0f10ddd57cbfcafe4c05e97ba9224d .soc-icon {
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Website.dt-shortcode-soc-icons.single-soc-icon-e1f157d38bfe7f91d9bfc3f143c56cfb a {
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.dt-shortcode-soc-icons a.single-soc-icon-e1f157d38bfe7f91d9bfc3f143c56cfb {
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#page .dt-shortcode-soc-icons a.single-soc-icon-e1f157d38bfe7f91d9bfc3f143c56cfb:not(:hover) .soc-font-icon,
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.dt-shortcode-soc-icons a.single-soc-icon-e1f157d38bfe7f91d9bfc3f143c56cfb .soc-font-icon,
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.dt-shortcode-soc-icons a.single-soc-icon-b96b4428f1e0b05178564a8f78a949aa {
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.dt-shortcode-soc-icons a.single-soc-icon-b96b4428f1e0b05178564a8f78a949aa .soc-font-icon,
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Instagram.dt-shortcode-soc-icons.single-soc-icon-d8aaeede04275716505920718f4ef61d a {
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}
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}
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#page .dt-shortcode-soc-icons a.single-soc-icon-d8aaeede04275716505920718f4ef61d:hover .soc-font-icon,
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.dt-shortcode-soc-icons a.single-soc-icon-d8aaeede04275716505920718f4ef61d .soc-font-icon,
.dt-shortcode-soc-icons a.single-soc-icon-d8aaeede04275716505920718f4ef61d .soc-icon {
font-size: 16px;
}










Mint Budgeting App



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margin-right: 4px;
}
.dt-shortcode-soc-icons a.soc-icons-6d3d70cdad80c3022dac88b2b035272f {
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.dt-shortcode-soc-icons a.soc-icons-6d3d70cdad80c3022dac88b2b035272f:last-child {
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}
.dt-shortcode-soc-icons.single-soc-icon-49d82ed142c927f8b520c127b3f38013 a {
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}
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Quicken Budget



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Website


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EPISODE TRANSCRIPT



[INTRODUCTION]


Welcome to “Christian Financial Perspectives”, where you’re invited to gain insight, wisdom and knowledge about how Christians integrate their faith, life and finances with a Biblical Worldview. Here’s your host Christian Investment Advisor, Financial Planner, and Coach, Bob Barber.


[EPISODE]


Bob:

Welcome to our 105th podcast for Christian Financial Perspectives and our first podcast of 2022. I hope you had a very Merry Christmas and a happy new year, and we are going to be coming at you with some great information this year. Cause I want you to live this year with intention on purpose. I don’t want you to go through 2022 just living a life of mediocrity and just going from day to day, but living each day with purpose in what God has for your life. And that’s what we’re gonna talk today about. We’re gonna talk about hitting those new year’s resolutions, goals, and targets.


Shawn:

And it’s hard to believe we’re in 2022. We had a crazy year last year, 2021, it seemed like.


Bob:

It is. I’m kind of ready to move forward, Shawn. I hope that COVID is about done. I’m ready to get on with life and I believe that many others, millions around world, are ready for that too. They’re ready to be able to get back together and give each other hugs and high fives and have parties together and not worry about getting COVID.


Shawn:

Yeah, I agree. I think people are still hoping that this can be considered no longer a pandemic, but I think the word endemic is what they call it, where it’s more of like the flu. Each year the flu, there’s a bunch of different strains and of course you wanna try to protect yourself from it, but it’s just kind of business as usual to an extent. Well, we’ve got a top 10 new year’s resolutions list and this is something that people set over and over again, it was from a bunch of surveys and polls that were done. And this is in order of importance or at least the number of people who said yes. This is one of their’s.


Bob:

The top one, that first one you’re gonna mention, is gonna be the most important one.


Shawn:

Eat healthier.


Bob:

I can raise my hand to that one. I definitely want to eat healthier, especially after coming off of Christmas, right. Just all those cookies and sweets and high fat things.


Shawn:

Well, it’s all the fun Christmas stuff. And then number two is get more exercise. The first three were actually tied as far as the percentage of respondents that said that that was something that they wanted to do. And then we’ve got another one – save money or save more money, always a pretty popular one. I’m gonna manage my budget this year. And then you’ve got focus on self care. Could obviously mean a lot of different things. That’s kinda the general category.


Bob:

Kind of goes along that line of get more exercise, and eat right.


Shawn:

Yeah. Or maybe it’s just, Hey, I’m gonna take a little me time everyone once in a while and de-stres. So another one is read more, always a good one.


Bob:

I’m kind of surprised by that one, but I’m glad to see that because…


Shawn:

It may not necessarily be a paper book. It may still be a digital reader of some kind.


Bob:

That’s true, but some are on their iPhones so much and media, reading, I believe, has become a lost art and I’m glad to see that that’s in the top five, actually.


Shawn:

I really like the reading. If you’re not gonna read on a paperback, at least if you have something that’s one of those E-Ink kind of a screen because it doesn’t make your eyes tired. And it reads more like a real book, which is definitely nice. Another one is learn a new skill. Definitely can see that as being popular, even more so probably this past year with so many people working from home, it’s like, well, I need to learn new skill. Maybe I can find a job I can work from home.


Bob:

Learn a new skill, especially with what plumbers and electricians charge, at least here in Central Texas, just to show up. They’re like, that’d be $200 or $300 if I just show up at your front door. So, learn how to do some of those things.


Shawn:

So maybe learn how to do plumbing or electrical work. On the electrical work, I would definitely say, make sure you go through something that’s accredited. Don’t try to mess with the electricity on your own. Just a little disclaimer there.


Bob:

There are some things I will always hire out. One of those is always if our metal roof needs fixing, I’m not getting up there, no matter what they charge, it’s gonna be cheaper than the hospital bill.


Shawn:

I agree. I’m the same way. I’m only in my thirties, but I’m not gonna try to replace a roof. So another one would be, make new friends. Definitely can understand that one. Sometimes, it’s hard to make new friends. Get a job or get a new job. No, Bob I’m not one of those looking for that one. We’re good.


Bob:

And we’re down nearly to the end, too. So I’m glad to hear that one.


Shawn:

Take up a new hobby and also focus more on relationships.


Bob:

So that’s the top 10. I’m glad to see that one too, the focus more on relationships. Those relationships with our family members, especially. So researchers say about 60% of us make these new year’s resolutions, Shawn, but only 8% are actually successful in achieving them. Why is that? Why is it every year we make these resolutions, but only 8% are successful in achieving them?


Shawn:

I’m glad you asked Bob. Cause I kind of have the answer. It helps when you can write things down, right? So, a famous Harvard business school study from years ago found that 83 out of 100 people do not have any clearly defined goals or a target to aim at – 83 out of 100. Then we have of the 17 people left that did have some goals, only 3 out of 100 – only 3 of them actually ever wrote down their goals on a sheet of paper.


Bob:

The key we’re gonna find, right, is writing those down on paper.


Shawn:

That’s a little foreshadowing. So, when Harvard concluded the study, the 3 out of the 100 people that had written goals were earning 10 times the income of the 83 people that didn’t have any written goals. And they tended to be in both better health and have happier marriages.


Bob:

Wow. I know. They had 10 times.


Shawn:

That’s crazy.


Bob:

Yeah. That’s why it’s so important that we need to write down a goal and have a target. Speaking of a target, not Target the store, but like a target…


Shawn:

Like something you’re going to aim for.


Bob:

Yeah. Something you’re gonna aim for or goal. So Shawn, I’m gonna set you up with a question. What’s the first thing that you have to do when you want to hit a target?


Shawn:

Well, first thing I think of when I have to hit a target is to take aim, whether it’s a firearm or bow or something in my life, take aim and get ready.


Bob:

You’re absolutely right. You do. You have to aim with the target, but there’s something you have to do before that. Am I setting you up?


Shawn:

Sounds like you’re setting me up a little bit.


Bob:

You gotta have the target. You gotta go put the target out there. You gotta put that target out there 40 or 50 yards that you’re gonna aim that bow and arrow at to hit it, right, or the gun.


Shawn:

So maybe if I went to the gun range, I don’t just start shooting, but I’ve gotta use that little arm thing that you put the target on and then just send it out however far you want. Yeah. That’s fair.


Bob:

You gotta have the target to aim for. So if you don’t have the target to aim for in the first place, you’re just shooting off into nowhere.


Shawn:

That’s a really good point. So, speaking of setting those targets, Bob, I know there are many different target and goal setting methodologies. So do you think maybe you could share a little bit on those?


Bob:

I wanna share one I have personally used for many years, and it’s proven to be very effective in helping me to hit my goals and targets. And this goal system is called the SMAC method. S-M-A-C and it’s an acronym. So each one of those means something. The S in SMAC means “specific” – setting your goals and target specifically for you personally, not what someone else wants, but what you want personally. The M in SMAC means “measurable”. That’s where you set those goals that you can measure them along the way as it’s going to hit that target. So don’t think of it like when you’re going to the hunting range or shooting range, that you’re just gonna hit that target immediately, it could take awhile. So we’ve got specific and measurable. That A in SMAC means “achievable”. Aiming high is good, but not so high that it’s impossible to reasonably reach your goal. Cause what you’re doing, if you do that, you’re setting yourself up for disappointment.


Shawn:

So if you just started at the gun range and you say, I wanna be able to shoot this target at a thousand yards, maybe set your goal a little bit lower cause maybe that’s not achievable.


Bob:

If you’ve never done it, just set it up at 30 yards.


Shawn:

Exactly. So setting those achievable goals.


Bob:

And the C in SMAC the last means “compatible”. In other words, set goals and targets that are compatible with your values, your beliefs, and that you can physically hit and mentally hit. Yeah. I mean, I physically, I could say I wanna set a goal of running a 100 yard dash in nine seconds. That is an unreasonable goal for me. It’s not achievable, not at nearly 60 years old. I’ll be 60 in June. It’s not compatible. So to set something like that, I’m setting myself up for failure. So when I say specific, that means being very specific with your goals over the years and putting them in writing, as we mentioned. The key to this is you gotta put ’em in writing and I’ve reached nearly 100% of my goals over time.


Shawn:

So instead of having something like, I want to eat healthier. Sure. That’s a goal, but I guess the issue with that is it’s not specific. It’s pretty vague. Eat healthier. What does that mean? Does that mean eating half as much cake you normally do? Does that mean going vegan? What does that really mean, right? That wouldn’t really fit the SMAC method by saying, I want to eat healthier. It’s like, okay, well, what does that mean? Maybe it means I want to start following the macro diet or the paleo diet.


Bob:

Or maybe that means I’m not going to put sugar in my tea. I’m my Southern boy. I love my sweet tea.


Shawn:

You like a little bit of tea with your sugar?


Bob:

I love my coconut cake. Saying that I’m going to not put sugar in my tea or I’m only gonna put one teaspoon instead of three.


Shawn:

The one defining either no sugar or how much sugar you allow yourself. If normally you do, say three spoonfuls and you say, well, I’m only gonna do one spoonful when I have that tea, then that makes it something that’s not only specific, but it’s also measurable.


Bob:

And I’ve already started doing this one and I actually started doing it a couple months ago. I’m noticing, over time, I’m getting where I can drink that tea without all that sugar in it.


Shawn:

But it tastes okay now.


Bob:

But if I’d have gone cold Turkey from three teaspoons of sugar and then two, and then it’s down to zero, I don’t think I would’ve made it, but I’ve done it gradually. I’ve done the same thing. I don’t drink coffee anymore.


Shawn:

I guess that would be more of the achievable side of it, too. Yes, it would. So, when someone’s trying to eat healthier, if you’ve had a hard time, I know for me chips, anything with salt, it’s hard for me to resist. I shouldn’t start with a goal that is, at least maybe for say this year, but I shouldn’t have a goal of I’m not gonna eat chips anymore. Well, that’s not realistic.


Bob:

Especially in Texas.


Shawn:

I really love chips. We have a few restaurants with chips and salsa and queso, but maybe the goal would be that I’m more specific and more measurable on how many servings of chips am I allowing myself per day and per week to make sure that I have, kinda like what you’re talking about with the sweet tea, that I have a way to slowly be able to scale that back and it be manageable and achievable.


Bob:

Yeah. And when it comes to that salt, I’ve watched, you’ll take that salt and you’ll shake, shake, shake, shake, and you’re putting that salt on there instead of going four times, do it once or do it twice until eventually you’ll get where – that’s an example. Once you get off the salt, you’ll taste the salt that’s already there on the chips. We can all have different goals and targets. There’s many different areas of our lives. And that’s just what I want to encourage all of our podcast listeners is set five or six or seven different goals and targets for yourselves, but make them to you, not to somebody else.


Shawn:

And in different areas of your life, which kind of goes into this next part. We’ve talked about a number of things that you would consider more physical with the sweet tea and the chips and eating healthier, but the different goals and targets, these can be spiritually related. They of course can be physically related like we’ve already talked about. They could be financially related. They can be mentally related. Maybe it’s the reading more. Are you wanting to read more and improve your memory and your cognition? You have relationally related. So people in your life – your spouse, your friends, your family. You have professionally related. Maybe there’s something like, I know for myself, I’m trying to pass my CFA exams, which are very difficult, but professionally for me, that’s one.


Shawn:

And then charitably related –