Smart Goals - A Powerful First Step
- thedoctorsmomma
- Apr 8
- 1 min read
Updated: May 29
Writing out your financial goals can be a powerful first step toward achieving financial success. If this is new for you, start with a foundational goal like organizing your personal finances and creating a plan to achieve your objectives for the year.
To make your goals effective, they should be SMART:
• Specific
• Motivational
• Attainable
• Relevant
• Trackable
Example of a Specific Goal:
Build an emergency fund equal to three months of living expenses within the next six months.
When setting your goals, keep the following in mind:
Stretch yourself: Goals should challenge you but remain realistic within a reasonable time frame.
2. Stay motivated: Set goals that inspire and encourage you to stay on track.
3. Be relevant: Your goals should align with your current financial situation and abilities.
Track progress: Define clear milestones in terms of both time and financial value (e.g., dollars saved or debt paid).
As Ben Franklin wisely said: "Failure to plan is planning to fail."
Take this opportunity to identify three to five personal financial goals for yourself. Here are some ideas to get you started:
• Pay off a specific credit card balance within the next three months.
• Save $5,000 for a family vacation by year’s end.
• Increase retirement contributions by 2% of your income starting next month.
• Build a down payment fund for a house within 12 months.
What financial goals will you set for yourself? Contact me and let's work together to develop smart goals to put you on the right track to your financial success.
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