What Are Your Metrics?

by Jeff C. Johnson

Measuring tools

Setting a serious, valuable, and achievable goal or future result is not always easy. It takes some thinking and contemplation. That is not at all easy in today’s noisy, information-filled digital world.

(Note: See my previous post, "Permanently Partially Distracted.")

Once identified, the thing doesn’t just happen on its own. It takes continued effort and action supported by keeping the goal or result in mind every day (or almost daily).

In his widely read classic, Think and Grow Rich, the legendary author Napoleon Hill writes: “Written goals are like a magnet that draws you to them.”

He goes on to teach the importance of monitoring progress regularly to keep one’s mind centered on the actions that will lead to the desired result.

The second of my “eight points” is to measure and monitor the goal, part of the awareness usually needed to reach meaningful and satisfying future results. In chapter 3 of The Eight Points of Financial Confidence are a number of charts, graphs, and tools to assist everyday people with tracking their progress over time.

Additionally, internet-based services, many free of charge, assist savers and investors in monitoring their assets using account aggregation tools. What’s that, you ask?

By linking your various financial accounts and entering values for other assets, such as your home, you can obtain a fairly accurate understanding of your up-to-date net worth every day.

There is a proverb, “What gets measured gets managed.” If you have identified your goal, are you measuring your progress toward that goal? Measuring and monitoring gives you the opportunity to correct your course when you falter, as well as to celebrate and enjoy your accomplishments as you succeed in reaching milestones.