SMART Goals
Financial Management
Specific
One part of making specific goals is breaking it down into parts that are manageable and easy to understand. The difference between vague (unclear) and specific (very clear) makes all the difference in accomplishing a goal.
Measurable
Achievable versus Realistic
Achievable = possible
Realistic = making sense
For example, it may be possible to buy a new laptop by the end of summer. But it may not make sense to do that if you won't have the money afterward to buy a school parking pass on the first day of school.
See the difference? A SMART goal has to be both achievable and realistic.
Timely
Give yourself a deadline. When you have an end date, you will finish your goal.
How does goal setting help you?
• guide and direct your behavior
• provide challenges and standards
• reflect what you consider important
• help improve performance
• increase the motivation to achieve
• help increase your pride and satisfaction in your achievements
• improve your self-confidence
• help decrease negative attitude
People who use goal-setting effectively suffer less from stress, are better able to concentrate, show more self-confidence, and seem to feel happier.
Deciding on your goal - here are some to consider:
• Artistic - Do you want to achieve any artistic goals?
• Attitude - Is any aspect of you mindset holding you back?
• Education - Is there any specific knowledge that you want to acquire?
• Social - Do you have any social ambitions?
• Physical - Are there any athletic goals that you want to achieve?
• Career - What career are you seeking in the future?
• Financial - How much do you want to earn/save and by when?