The other day I heard a saying that really resonated with me, “we manage what we measure”. But what exactly does that mean? Well, in the most literal sense, it means exactly what it sounds like: if you’re not keeping track of something (measuring it) then you can’t keep it in check (manage it). The more I thought about it, the more I liked it, here are a few of the (many) things that the saying applies to in my life:
Things I measure:
- Spending-If I’m not tracking my spending, my spending can get
a little bita lot out of control. When I was younger, and much more foolish, I definitely wasn’t tracking my spending (student loans). When I finally started getting my student loan bills in the mail, I was like, “wait a minute, how much do I owe?” Uncontrolled spending can mean big student loan bills (like in my case), big credit card bills and big headaches! - Calories-Everyone knows calories you eat on vacation don’t count, right? But what about the calories you on a day-to-day basis? Yup, they totally count, just ask my waistline about calorie counting. When I was a teen I could eat whatever I wanted and I stayed slim and trim (go ahead and hate me, I hate the younger me too!). These days I have to keep the calories in check because the pounds pile on fast.
- Exercise-This one is particularly true for me. If I’m not exercising and keeping track of my exercise schedule, it somehow just gets away from me. In my head I’ve worked out “almost everyday” and on paper I’ve worked out 3 times in 30 days (how did that happen?). I like to keep track of workouts on my wall calendar. I draw a little star next to everyday I work out (high tech, right?).
- Debt Repayment-For a few years I didn’t have any savings to measure, so I kept track of how much student debt I paid down instead. I tracked how much I paid each month and at the end of the year I made a little graph, which I’d stare at in amazement while I patted myself on the back.
- Retirement Savings-Having a retirement account is a good start (I’ll be honest, I didn’t have one until just recently), but actually keeping track of how much you’ve contributed and how it’s invested is also important. If you don’t know how much money you have in your retirement account, or what your rate of return is, how do you know when you’ll be ready to retire (I’m not going to name any names, mom!).
Why it’s important to manage what we measure?
- Tracking Progress. Who doesn’t like to look at a calendar full of stars, “earned” from doing a daily workout? Seeing that calendar is really motivating for me. It gives me the push I need to keep doing something that I know is good for me.
- Seeing the “big picture” It’s easy to get disappointed when you’re not making progress on a daily basis, but when you look at your progress as a whole, it’s gives you a better picture of how you’re doing overall. Last month I didn’t save as much as I wanted, so this month I know I need to save a little more to make up for last month.
- Routines matter. Once saving money, or tracking calories, or exercising becomes a habit it doesn’t feel so difficult. Working out 4 times a week is no big deal when you’re used to working out 3 times a week. Working out 3 times a week feels overwhelming when you don’t work at all. Most people (myself included) really thrive with consistency and routines.
- Identifying Trends. Why is it I spend so much in January and so little in June? Now I know that my December credit card statement is due in January (loaded with Christmas shopping and plane tickets) and there are no major holidays or birthdays for me in June.
What are you measuring? What are your favorite methods to measure progress?
Image: Scott Akerman