In this post, I will share the common reasons why goals fail and what actionable steps you can take to avoid that.
Your Everyday Economics

Why Do New Year Goals Often Fail, and How Can You Fix That?

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If you ever set a goal with high hopes, only to see it fizzle out, you’re not alone.

Studies reveal that a staggering 92% of people fail to achieve their goals. For instance, this study by the University of Scranton found that only 8% of people who set goals manage to achieve them.

In this post, I will share the common reasons why goals fail and what actionable steps you can take to avoid that.

You can also watch my YouTube video on this post here.

Ok the first reason is when you have

  1. Vague Objectives:
    • When we have unclear goals like “I want to be better at X,” these are not specific, which makes them hard to achieve.
  2. The second reason is a lack of accountability:
    • When we don’t share the goal with a trusted friend or family member, there is no one to remind us if we sway. Without someone to hold us accountable, it’s easy to lose motivation because we are not answerable to anyone.
  3. The third big reason is the lack of a clear plan:
    • If you Set up a goal without a roadmap, it can lead to confusion and inaction.
  4. Lastly, Setting Unrealistic Goals can cause us to fail at achieving our goals:
    • When we aim too high without a realistic plan, it can lead to discouragement.

How to Set Goals That Work:

1. Create Specific Goals

Specific goals give you a clear direction. When I say, “I want to write an e-book,” it feels overwhelming and vague. But if I break it down, it will be clear. So, instead of saying, “I’ll write an e-book,” I will say: “I’ll write a 125-150 page e-book on personal finance for people in their 20s by April 1, 2025, by working on it for 1 hour each day.”

    Being specific helps you know exactly what success looks like and what steps you need to take.

    2. Create an Action Plan

    To achieve your goals, you need a roadmap. Break down your larger goal into manageable tasks:

    For example, for the e-book, I will create a detailed Outline of my chapters by January 7, 2025. Then I would Draft one chapter every week starting January 8, 2025. I would edit two chapters per week beginning  March 2025. Lastly, I will Finalize formatting and cover design by March 25, 2025, to publish the book by April 1, 2025

    So basically set deadlines for each task and track your progress weekly.


    3. Set Realistic Goals

    The next important step is to be mindful of the difficulty level. Goals should challenge you without overwhelming you.

    Giving the same example, for me writing a 100-page e-book in three months is realistic if I commit an hour daily, but writing a 300-page book in the same time frame might not be. Similarly, writing a bi-weekly blog post is achievable, but trying to write and add one new article daily could lead to burnout.

    So be honest about your time, energy, and other commitments, because, quality matters more than quantity.


    4. Limit the Number of Goals

    It’s tempting to tackle everything at once, but spreading yourself too thin reduces your focus and effectiveness. Instead, focus on 2-3 major goals at a time. For example, I should prioritize the e-book and then move to the newsletter. Once those are running smoothly, next year I can consider adding new projects like online courses or another e-book.


    5. Write Down Your Goals

    Documenting your goals makes them tangible and keeps you accountable. You can create a vision board or use a goal-setting app like Trello or Notion. For instance, I will write: “Publish my e-book by April 1, 2025,” and “Send out my first newsletter by July 15, 2025.” Make sure to review these goals daily or weekly to stay on track.

    I strongly believe seeing your goals in writing gives you clarity and motivation. You can make your goals the wallpaper of your device for added reminders.


    6. Seek Support

    You don’t have to do it alone. When you Share your goals with others, it provides encouragement and accountability. For my goals this year, I will share my e-book milestones on YouTube, Instagram and TikTok. I will ask for feedback from my viewers or invite them to beta-test my newsletter. Additionally, I will reach out to my mom as my mentor to check in with me weekly.

    For example, this is what I would post on my social media platforms: “I’m writing an e-book on personal finance for people in their 20s! Any tips or feedback on what you’d like to see?” This builds engagement and motivates you to deliver.


    In summary, by being specific, creating a plan, setting realistic goals, focusing on a few priorities, documenting your objectives, and seeking support, you’ll turn your ideas into reality without feeling overwhelmed.

    Remember, setting goals is just the beginning. With clear, realistic objectives and a solid plan, you can join the successful 8% who achieve their aspirations.



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    Remember, setting goals is just the beginning. With clear, realistic objectives and a solid plan, you can join the successful 8% who achieve their aspirations.