Follow The 21/90 Rule to Achieve Your Financial Goals

Whether it's in your personal life, family, business, hobbies, one always seeks to have a healthy lifestyle. There is one simple and best method, the 21/90 rule - a simple and straightforward practice.

What is the 21/90 Rule?

Committing to a professional or personal goal for 21 consecutive days will eventually turn your goal into a habit. And pushing it for 90 days can make it a permanent lifestyle change.

Now that you have known what the 21/90 rule is, the next step moving ahead is to understand how you can apply this rule to better your finances. There is always a need to improve your life even when you already might be living the life you desired. What're the best steps you can take to achieve with the 21/90 rule?

Use the 21/90 Rule for Financial Success

Follow the following six steps to achieve the financial goals you desire.

  1. List down the things that matter the most to you financially. Eg: emergency savings, buying a car, investing in stocks etc.
  2. Filter out what's within your reach, what will be time-consuming, and chalk out the plan for a long-term strategy.
  3. Apply a SMART goals ( Specific - Measurable - Achievable - Realistic - Time-Bound) strategy. Goals play a significant part in every aspect of business/life and provide a sense of lookout, motivation, focus, and clarifies importance. By setting a SMART approach, you provide yourself with a target to aim for.
  4. Create a relevant and an actionable budget for your goals. Give yourself a handle on what is coming your way and what is going out, then further address your goals and missions. Apply the budget you made to look out for leaks in your financial journey.
  5. With luck and your brutal, realistic, and water-tight budget, results will come with a handful amount of money in hand. Whatever the amount is, have it shifted into another account curated to address your primary priorities.
  6. Monitor your expenses and your progress. Keep a check that you are completing specific benchmarks. If not, take some time to re-evaluate and check what went wrong and how you can rectify it.

Read more: What is the 50/30/20 Budget Rule?

Consistency and taking small actionable steps are the key to reaching your goals. Your brain should have the actionable steps engraved in it, so for the upcoming 90 days, it should automatically get used to it.

One can also use the 21/90 rule to maintain a good lifestyle. Make micro and macro goals. That's the key to lifestyle change. No, it won't happen overnight. It would be best to celebrate those small victories, get confidence and believe in yourself to indulge in more significant tasks.

If you are still reading, then that proves you are not about to give up. You want to succeed, and with a little more information, you will!

3 Steps to Financial Success

  1. Plan Ahead - To stick to your new habit, you need to have a plan in hand. Treat this like any other work project you have. Make a priority list and create actionable small steps with a deadline attached to it. Create a 'why you are doing this list; this is a vital exercise to keep you motivated when you hit a motivational block. Add how it will enhance your lifestyle and the benefits attached to it. Eliminate any distractions you think can destroy your practice, celebrate your most minor wins and do a review at the end of the week to review how things are going and if there is anything to alter.
  2. Bust the Old Habits - Breaking an old habit will take the same amount of time it took to build it. Use the above method to help yourself in it. Sleepover the habit you have decided to eliminate - evaluate, what will you do instead of that habit? How will you spend the time? Do you need to distract your mind and body positively instead? While doing this, keep a support buddy with you so that if there are any distractions or cravings, he/she can talk you out of it.
  3. Treat Yourself for Motivation - It's easier to say things than actually getting it done. We all have trouble keeping the fire lit. If you're ambivalent about an activity, link it to something you genuinely like, such as listening to your favourite podcast or treating yourself to a homemade smoothie.

Read more: Tips to Reduce Financial Stress in Your Life

The way to win on any task, no matter how big, is to start small. Create a linear trail of dots and end it with your goal. Take positivity to be your jetpack, breakthrough every problem, and move forward to success. With the right plan and attitude, any and everything is possible!

(Check out 'Learn & Grow with Wizely' 'to read and learn all about personal finance and financial planning.)

Sakshi Mehrotra

Sakshi Mehrotra