Financial Fitness For Life Mini-Lesson – SMART Goals You Can Achieve

Write a SMART Goal that you can achieve!

A well written goal is a SMART goal. It needs to be written in such a way that you are clear about exactly what it is you want.

S (Specific) : The goal must be written with detail.
M (Measureable): This is how you will know you have achieved your goal.
A (Attainable): The goal should be something you can realistically reach.
R (Relevant): Does the goal apply to your values and your life?
T (Timeline): By when do you want to reach your goal?

Here is an example of a not-so-SMART goal

I want my family to be secure.

This goal is not specific. Different people may have different definitions of security. How will you know when you are actually there? By when do you want to reach this goal?

This is a SMART goal

I want to purchase a 3 bedroom home for my family with affordable monthly payments of no more than $1,300 within 12 months.

This goal says exactly what you want to do. It is concrete so that you will know when you've reached it. Affordable monthly payments mean it is realistic for you (a Homewise Home Purchase Advisor can help you determine what you are qualified to borrow and help you decide what would be an affordable payment for you). And, you've given yourself a deadline to accomplish it.

Now practice writing a goal of your own. Remember to make it a SMART goal. After writing the goal, identify what you could be doing now to work toward the goal, and what resources (if any) you need to achieve your goal.

Short or Long Term Goal: (specific, measurable)

What I can do now to work toward this goal: