Comments on: Set smaller goals: impress friends, get girls, lose weight http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight/ Personal finance blog for college students, recent graduates and everyone else -- including entrepreneurship -- for getting rich. Featured in the Wall Street Journal and New York Times. Sat, 20 Mar 2010 16:46:25 -0700 http://wordpress.org/?v=abc hourly 1 By: jana http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight/comment-page-2/#comment-86660 jana Fri, 16 Jan 2009 18:46:34 +0000 http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight#comment-86660 i agree sustainable change is best, but there is another thing at play which might have gone unnoticed. the motivation factor might be higher when you do a big change as you see your progress more clearly. i have experienced this firsthand (started dieting about a year aho and lost a very big amount of weight. the change was quite big - writing every calorie down, spending lots of time on diet forums etc.) and it was contrary to the "10 or whatever%" rule), but i have to say that seeing quite big results was what kept me going (and keeps me going futher as i am not at my goal yet). but i did bounce back i autumn so it might not be perfect. back o track now:) i am not sure i would have kept going if i was doing it slowly (lsot of dier advice recommends cutting like 10% of cals, or just giving up soda and go from there), as the hassle would be similar (having to check everything). i am not saying you are wrong, just wanted to add that motivation sometimes might be based on bigger results than the ones gained from a slow approach i agree sustainable change is best, but there is another thing at play which might have gone unnoticed. the motivation factor might be higher when you do a big change as you see your progress more clearly. i have experienced this firsthand (started dieting about a year aho and lost a very big amount of weight. the change was quite big – writing every calorie down, spending lots of time on diet forums etc.) and it was contrary to the “10 or whatever%” rule), but i have to say that seeing quite big results was what kept me going (and keeps me going futher as i am not at my goal yet). but i did bounce back i autumn so it might not be perfect. back o track now:) i am not sure i would have kept going if i was doing it slowly (lsot of dier advice recommends cutting like 10% of cals, or just giving up soda and go from there), as the hassle would be similar (having to check everything). i am not saying you are wrong, just wanted to add that motivation sometimes might be based on bigger results than the ones gained from a slow approach

]]> By: Anewperson http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight/comment-page-2/#comment-63489 Anewperson Thu, 05 Jun 2008 22:01:34 +0000 http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight#comment-63489 Hey, great advice!! In terms of losing weight, I've been using the same idea, and it does work!! Here's a great article geared towards just that: <a href="http://www.sparkpeople.com/resource/motivation_articles.asp?id=454" rel="nofollow">The 10% solution</a> It hadn't occurred to me to put my spending on this kind of diet! ha. Hey, great advice!!
In terms of losing weight, I’ve been using the same idea, and it does work!! Here’s a great article geared towards just that:
The 10% solution
It hadn’t occurred to me to put my spending on this kind of diet! ha.

]]> By: G.L. http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight/comment-page-1/#comment-62944 G.L. Thu, 29 May 2008 18:44:58 +0000 http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight#comment-62944 Wow, what an excellent post - it's so rare to see something truly original, as well as unorthodox, in the PF blogosphere. Major kudos. :) And even major-er kudos for making me LOL at your Shakespeare comment (I'm going to steal that haha) and your "ghetto graph." ^__^ Wow, what an excellent post – it’s so rare to see something truly original, as well as unorthodox, in the PF blogosphere. Major kudos. :)

And even major-er kudos for making me LOL at your Shakespeare comment (I’m going to steal that haha) and your “ghetto graph.” ^__^

]]> By: Sterlzs http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight/comment-page-1/#comment-62655 Sterlzs Sun, 25 May 2008 12:24:21 +0000 http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight#comment-62655 Great wisdom in this article! This concept of adding or subtracting to obtain the results you want in your life is the foundation that most successful people live by. Congrats again and I will continue to read your post through my google reader! Sterlzs Great wisdom in this article! This concept of adding or subtracting to obtain the results you want in your life is the foundation that most successful people live by. Congrats again and I will continue to read your post through my google reader!

Sterlzs

]]> By: Josh http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight/comment-page-1/#comment-61137 Josh Tue, 06 May 2008 15:35:31 +0000 http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight#comment-61137 I think in terms of personal finance this article is right on point. With working out for example, I work out 30-45 minutes every day... It is much easier than the 2 hours 3 days a week that i used to do. However, the person who compared quitting smoking to reducing spending - i don't think that is accurate. Here is why. Smoking is not necessary but spending is. You don't HAVE to smoke one cigarette to be a successful person, but you do have to spend money. What level of success you decide upon is up to you, but there will be spending involved. I quit smoking cold turkey in December and I personally feel it, like many other things in life, is mind over matter. You simply have to convince yourself that smoking is horrible and is not for you. Once you have that, you will truly hate smoking and will not want to smoke. From there you follow the simple rule of "I will not smoke a cigarette."... No matter what the circumstance, a cigarette is not for you. Spending does not work the same way. Spending is something you must do in moderation. Gaining control over spending is hard because you can't convince yourself it is "bad," because then you wont pay what bills you do have on time. Or then you wont get the maintenance you need done on your car. But then again, you can't tell yourself there is nothing wrong with it, because then you will not control it. Personally I have not mastered my spending. That is one of the very reasons I read this site, and many others - I like to keep my mind aware of the subject and get whatever advice I deem useful. But I do feel that this theory in regards to spending will work. I think with things that you need to continue but that you are trying to moderate, this is a good theory. I will surely test it out. As for drinking/smoking - (things you do not need at all) just go cold turkey and set your mind against it. I think in terms of personal finance this article is right on point. With working out for example, I work out 30-45 minutes every day… It is much easier than the 2 hours 3 days a week that i used to do. However, the person who compared quitting smoking to reducing spending – i don’t think that is accurate. Here is why.

Smoking is not necessary but spending is. You don’t HAVE to smoke one cigarette to be a successful person, but you do have to spend money. What level of success you decide upon is up to you, but there will be spending involved. I quit smoking cold turkey in December and I personally feel it, like many other things in life, is mind over matter. You simply have to convince yourself that smoking is horrible and is not for you. Once you have that, you will truly hate smoking and will not want to smoke. From there you follow the simple rule of “I will not smoke a cigarette.”… No matter what the circumstance, a cigarette is not for you.

Spending does not work the same way. Spending is something you must do in moderation. Gaining control over spending is hard because you can’t convince yourself it is “bad,” because then you wont pay what bills you do have on time. Or then you wont get the maintenance you need done on your car. But then again, you can’t tell yourself there is nothing wrong with it, because then you will not control it. Personally I have not mastered my spending. That is one of the very reasons I read this site, and many others – I like to keep my mind aware of the subject and get whatever advice I deem useful. But I do feel that this theory in regards to spending will work.

I think with things that you need to continue but that you are trying to moderate, this is a good theory. I will surely test it out. As for drinking/smoking – (things you do not need at all) just go cold turkey and set your mind against it.

]]> By: Chris http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight/comment-page-1/#comment-57999 Chris Fri, 04 Apr 2008 18:01:52 +0000 http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight#comment-57999 An interesting article (long but interesting) on behavioral change. Part of the article speaks to how large changes elicited greater adoption than small. An interesting article (long but interesting) on behavioral change. Part of the article speaks to how large changes elicited greater adoption than small.

]]> By: Monevator http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight/comment-page-1/#comment-52509 Monevator Wed, 13 Feb 2008 12:51:40 +0000 http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight#comment-52509 It's worth remembering too that several small goals can add up to one big goal. Say you want to save $5,000 a year. If most of us set that aside out of our pay checks, we're probably going to struggle. Instead we might: 1) Initiate savings of $250 a month ($3,000 a year) 2) Swap all utility bills for cheaper suppliers (say $300 a year) 3) Refinance a mortgage (saving say $1000 a year) 4) Grow a second income stream from a hobby (say $500 a year) 5) Collect loose coins in a jar ($200 a year) Like this, all the smaller goals add up into the bigger goal, but it's a lot more achievable. It’s worth remembering too that several small goals can add up to one big goal.

Say you want to save $5,000 a year. If most of us set that aside out of our pay checks, we’re probably going to struggle. Instead we might:

1) Initiate savings of $250 a month ($3,000 a year)
2) Swap all utility bills for cheaper suppliers (say $300 a year)
3) Refinance a mortgage (saving say $1000 a year)
4) Grow a second income stream from a hobby (say $500 a year)
5) Collect loose coins in a jar ($200 a year)

Like this, all the smaller goals add up into the bigger goal, but it’s a lot more achievable.

]]> By: Mari http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight/comment-page-1/#comment-51139 Mari Tue, 05 Feb 2008 19:27:54 +0000 http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight#comment-51139 Excellent post! I love your graph! Excellent post! I love your graph!

]]> By: Anonymous analyst http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight/comment-page-1/#comment-37827 Anonymous analyst Thu, 18 Oct 2007 12:55:19 +0000 http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight#comment-37827 Great advice. Looking at this from a basic behavioral aspect for most people savign for retirment is to effimeral a concept. Stashing away that $100, $200, or more a month is a constant reminder of the opportunity cost of enjoying that money now. As an analyst I have participated in more seminars than I can count where a financial advisor tries to wring out every cent of extra spending from a client's life just so he can invest it and the advisor makes more money. If we return to the adage of pay yourself first, every time we find new bits of money from paying off a car, credit card, raise, etc., we should set aside a portion of that ro reward ourselves. The remainder we can save or invest or pay off more debts. But rewarding ourselves is a tangible reinformcement to the positive behavioral changes we've made. However, if I do pay off my car a save the $400 a month and then just turn around and send it off to some investment account in the sky, even though I am doing the financially smart thing, I am still out the $400 a month. By dividing that and leaving $200 in checking for me to enjoy, I now have a tangible reward for my efforts and I am still contributing an additional $200 to savings. Great advice. Looking at this from a basic behavioral aspect for most people savign for retirment is to effimeral a concept. Stashing away that $100, $200, or more a month is a constant reminder of the opportunity cost of enjoying that money now. As an analyst I have participated in more seminars than I can count where a financial advisor tries to wring out every cent of extra spending from a client’s life just so he can invest it and the advisor makes more money. If we return to the adage of pay yourself first, every time we find new bits of money from paying off a car, credit card, raise, etc., we should set aside a portion of that ro reward ourselves. The remainder we can save or invest or pay off more debts. But rewarding ourselves is a tangible reinformcement to the positive behavioral changes we’ve made. However, if I do pay off my car a save the $400 a month and then just turn around and send it off to some investment account in the sky, even though I am doing the financially smart thing, I am still out the $400 a month. By dividing that and leaving $200 in checking for me to enjoy, I now have a tangible reward for my efforts and I am still contributing an additional $200 to savings.

]]> By: Peter http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight/comment-page-1/#comment-36671 Peter Thu, 11 Oct 2007 19:14:00 +0000 http://www.iwillteachyoutoberich.com/blog/set-smaller-goals-impress-friends-get-girls-lose-weight#comment-36671 Nice post. I'll add a personnel example. When each of my children was born I decided to put some money away for a college fund. I started with twenty dollars a paycheck into a savings account and a commitment to try to bump it up by a few dollars every year or so, or if I got a promotion, etc. My eldest is now a junior in high school and I'm saving $80 a paycheck for her, and there's 25K in her funds for college. Will this pay for four years? Maybe (depends on what she does and where). Will it help? Damn straight it will. The point is the $20 dollars I started with wasn't even missed. The additions over the years were small percentages of raises and also not missed. I've done much that same with retirement. Putting enough in to get the matching at first and then if I got a three percent raise, bumped up the retirement a percent. Not every raise, but enough to make a real difference over time. The small steady drops into the bucket, given enough time, will fill it. Nice post. I’ll add a personnel example. When each of my children was born I decided to put some money away for a college fund. I started with twenty dollars a paycheck into a savings account and a commitment to try to bump it up by a few dollars every year or so, or if I got a promotion, etc. My eldest is now a junior in high school and I’m saving $80 a paycheck for her, and there’s 25K in her funds for college. Will this pay for four years? Maybe (depends on what she does and where). Will it help? Damn straight it will. The point is the $20 dollars I started with wasn’t even missed. The additions over the years were small percentages of raises and also not missed.
I’ve done much that same with retirement. Putting enough in to get the matching at first and then if I got a three percent raise, bumped up the retirement a percent. Not every raise, but enough to make a real difference over time. The small steady drops into the bucket, given enough time, will fill it.

]]>