Setting SMART Financial Goals That Actually Work

"I want to save more money" is a wish, not a goal. Learn how to set financial goals that you'll actually achieve using the SMART method.

What Are SMART Goals?

• **S**pecific: Clearly define what you want
• **M**easurable: Include numbers to track progress
• **A**chievable: Realistic given your situation
• **R**elevant: Aligned with your values and priorities
• **T**ime-bound: Has a deadline

Examples of SMART Financial Goals

❌ Vague: "Save more money" ✅ SMART: "Save $6,000 for an emergency fund by December 31st by automatically transferring $500/month"

❌ Vague: "Pay off debt" ✅ SMART: "Pay off my $8,000 credit card balance in 16 months by paying $500/month"

❌ Vague: "Invest for retirement" ✅ SMART: "Contribute $500/month to my Roth IRA, reaching $6,000 by year-end"

Steps to Create Your SMART Goals

1. Write down your financial dreams
2. Prioritize the top 3-5
3. Apply the SMART criteria to each
4. Break large goals into milestones
5. Review and adjust quarterly

Tracking Your Progress

• Use a spreadsheet or app
• Schedule monthly check-ins
• Celebrate milestones
• Adjust timelines if needed (but not the goal)