S.M.A.R.T Goals

In order to develop personal financial plans, you need to envision your dream life. Once you have a clear picture of what you want your life to look like, you can begin working toward it. Goals, in general, are clear statements of the anticipated outcomes you want to achieve, and they allow you to start planning for your future. They are important because they motivate you, help organize your finances, free you from constant financial stress, and most importantly, they feel good to achieve.

However, SMART goals are what you want to create so that you can hold yourself accountable and truly accomplish your goals. SMART stands for:

• Specific – You want to make sure your goal is very significant to you and specific in terms of what exactly you need to accomplish. For example, a SMART goal is not “getting a lot of sleep,” but rather “getting at least 8 hours of sleep each night.”

• Measurable – You need to have a way to track your goal. For instance, if your goal is to drink 3 liters of water a day, you should track it by finishing two 1.5-liter water bottles each day.

• Attainable – Your goal should be something that is challenging, but not impossible.

• Result-Oriented – This means you should have strong reasons for wanting to accomplish your goal, which will help you stay motivated and see real results.

• Timely – Your goal must include a clear and reasonable time frame.

An example of a SMART goal is:“My goal is to read at least one book per month for the next three months by setting aside 20 minutes each evening to read instead of using my phone, so I can improve my focus and become a more well-rounded individual.”

After writing SMART goals, you need to prioritize them and identify actionable steps that will help you build habits and stay on track toward achieving your dream life.