How Do I Set Goals: What You Can Learn From Monsters University (Part 2 of 2)

How do I set goals - Monsters University
Welcome back to Part 2 of How Do I set goals?  Just a couple of days ago, I gave you 4 best practices on how you set goals.  Monsters University can teach you a lot about setting goals for your personal finances.  Following the plot of the movie, here are some more best practices for setting goals.  (SPOILER ALERT!!!)

How Do I set Goals

  1. Be able to pivot.  Just like any good movie, our hero Mike is on his way to become a scarer when his plans crash to the floor and he is thrown out of  the scare program at MU.  Mike failed.  But, he did not give up.  He was crushed of course, but Mike came up with an way he could get back on track.  You too will hit walls.  You may have been saving most of your money so you could retire early only to have an ailing parent with expensive medical bills move in with you.  Life will happen, but when it does, pivot.  Change direction, change tactics.  Everything you need to overcome your obstacles is already within you.  If you draw a blank, go back to asking for recommendations.  No matter what you are going through, at least some of the 6 billion people on this planet have faced a similar scenario.  You are not alone.
  2. Theory + Action = Success.  In the movie, the lovable Mike Wazowski hits the books harder than anyone else at school.  He knows everything there is to know about scaring, but he is not scary.  His nemesis, James P. Sullivan, is just the opposite.  He gets by on his family name, does not even buy the books for class and relies on his talents for scaring.  He finds out that his problem is that he is a one trick pony.  He tries to use a hammer to fix every problem.  Later in the movie though, when Mike and Sully help each other, success is born.  If you are wanting to buy investment property, you can read all the blogs and books in the world on how to buy a piece of investment property.  You can watch the addicting HGTV shows.  But if you never call a realtor or talk to a banker you will never reach that goal.  Learning is good, but action is King when it comes to reaching your goals.
  3. Work as a team.  To get back into the scaring program, Mike has to win the School Scare Games.  But this is a team event, so he must join the nerd fraternity to get the teammates he needs to enter the Scare Games.  Once his team is assembled, Mike tries to lead the team while Sully scoffs at him.  The team does exactly what Mike says and they are still failing.  It is only when the team thinks for themselves that they start working as a team and winning as a team.  In marriage, you need work as a team when it comes to managing your money.  If you don’t work as a team, then divorce tends to follow.  To work as a team, you don’t have to both sit down and pay bills.  You can split up the tasks.  Just make sure to trust your spouse to make the right decisions for the team and don’t second guess.
  4. Always be honest.  Near the end, Sully cheats to help Mike and the team win.  Not only does this take away their victory, but it also breaks up their team.  When you are working as a team, you need to succeed and fail as a team.  If you fail, just get back up and take another try at success.  Don’t cheat on your taxes or hide money from your spouse. In the end, you will get caught and everything you worked for will be taken away.
  5. Have fun along the way.  After Sully admits to cheating, Mike and Sully are kicked out of school.  But they don’t give up there.    They go to the local power plant and apply for a job in the mail room.  A picture montage follows showing that Mike and Sully succeed at every job at the power plant while climbing their way up the ladder.  They succeed because they are having fun.  Many of your financial goals are long term, so make sure you have fun along the way. In my post, How I got my dream car for $150, I talk about wanting a pickup truck when I was a teenager.  Before I had the pick up truck, I saved up bumper stickers for the truck.  My wife and I want to live on the beach after our daughter is finished with college.  During the next 19 years we can make this journey fun by picking up real estate books and visiting open houses for places at the beach.
Keep Your Goals On Track With Goal Setting Software and Apps.  

Monsters University is a great movie with a great message for kids and adults.  When you are working toward your goals, don’t let the small stuff, like failure, stop you.  Keep on persevering.

In the comments below, let me know what your favorite movie is that provides a great example of setting and achieving goals.

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