Got big money goals like getting out of debt or retiring? That’s great! Did you know that research has shown that you’re more likely to achieve your bigger goals by breaking them into shorter term goals?
For example, if your big goal is to pay off all of your debt in 5 years, your initial goal could be to simply pay $50 extra towards your debt by the end of the month.
By breaking your big goal down into shorter term and more realistic goals that you can easily achieve, you’ll set yourself up for success. When you succeed, your brain releases a chemical called dopamine, AKA the “feel good” neurotransmitter. These good feelings and positive emotions help increase your motivation to continue and eventually achieve the ultimate result you want.
So break those big goals down, make it easy to win, and let the momentum fuel you to success!
Check out MogoSpend for a great way to get started on your budgeting goals.
–The Mogo Team