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iQuestions Faculty, Ron Blue 
 
 
Question: 
 
Why should we set financial goals? 
 
Answer: 
 
There was a study done a number of years ago at Harvard University, 
where they studied a graduating class of MBAs from Harvard, and they 
found that 3% of that graduating class had accomplished more than 
the other 97% combined—the only distinguishing characteristic 
between the 3% and the 97% was that the 3% had left Harvard with 
written goals. 
 
Why should we set goals? I think there are at least four reasons why 
we should set goals. First of all, they give us direction and purpose. 
When I set a goal, I say, “This is where I’m headed.” And if I know 
where I’m going, then I can logically come to the steps that will get 
me to where I’m going.  
 
Secondly, it helps us to crystallize our thinking. If I’m thinking in broad 
generalities, it’s hard to accomplish a broad generality. But if I write 
down, “I would like to reduce my credit card debt by $100 per month, 
then it helps me get going, in terms of taking the legitimate actions. 
 
Thirdly, when I set a written goal, it gives me personal motivation. It 
says, “This is what I want to do. It’s something that I haven’t 
accomplished yet. It is something that I would like to accomplish.” 
 
I know that when I was in college, my grades my first few years were 
really pretty poor, until I got engaged—and all of a sudden, I had 
personal motivation, and my grades went from poor to straight A’s. 
 
 
Why? Just because I had a written goal, and that goal was to provide 
for my wife and family. 
 
And then fourthly, for those of us who follow God’s principles of 
finances, when I set a written goal, what I’m really saying is, “I believe 
this is what God would have me to accomplish.” 
 
So, I think there’s four really good reasons to set goals: personal 
motivation, direction, crystallizing my thinking, and the fact that it is, 
in effect, a statement of God’s will for me. 
 
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