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144. Financial goals that don’t suck – 7 traps to avoid
Jan 4, 2026

We often fall into the trap of setting financial goals that are destined to fail, so we’re exploring why some goal-setting attempts fail and how to pivot away from the common mistakes that turn well-intentioned plans into forgotten wishes. By shifting our focus, we can find the traction needed to make real progress. We dive into the psychology of “fresh starts,” the power of accepting mediocrity to overcome perfectionism, and why your most successful financial year might actually involve a plan to spend more on the things you love.

Liz joins this week’s podcast as we talk about:

– Seven common pitfalls to avoid when setting financial goals

– Why tracking your current spending and net worth is the mandatory starting line for any future financial goals

– The danger of overly ambitious goals 

– How to use “commitment devices” and accountabili-buddies to ensure your goals don’t gather dust in a drawer

– Distinguishing between market-dependent outcomes and behavioral goals that are 100% within your control

– Reframing financial targets to include “joy spending” and supporting businesses you value rather than focusing solely on restriction

– The power of small goals and wins that add up over time

– Overcoming analysis paralysis by accepting mediocrity and prioritizing “done” over “perfect”

 

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