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✅ Practical financial goals using OKRs 

THANDO NDLOVU
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A great way to set practical, actionable goals you can track the progress of is to use a goal setting and tracking system like OKRs.
OKRs are usually used by companies and organizations but it is also fantastic tool to use when setting personal goals.
OKR stands for Objectives and Key Results.
This method is made up of 3 key element:
Objectives, key results and initiatives.
The idea is to bridge the gap between your goals and the strategic actions you need to take to realize those goals.
Example:
*Objective*
(what you want to achieve)
”I want more financial security”
*Key result*
(how do you know if you are achieving your goal)
- I will have a 6-month emergency fund
- I will have 2 sources of income
- I will regularly save and invest.
*Initiatives*
“What can I do to achieve my goal”
- start a side hustle
- automate my savings and investing contributions
- save 10% of my income in an emergency fund each month
Tips to achieve goals you set using the OKR approach:
- limit the number of OKRs you set to 3 per 3 months
- Create a system to track your goals and set aside time to regularly review your goals and make adjustments when needed

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5 сен 2024

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