The best way to set goals is by using the SMART method:

Specific – determine a specific goal, nothing too broad. The goal needs to have real numbers and real deadlines. Not like – “I want to have more money” – how much money? When do you want to have this much money?

Measurable – make sure that the goal can be measurable, whether it’s an amount of time, distance, or amount of money. Ex. I want to have $100 in my savings account by the end of the month.

Attainable – the goal should be something that you can realistically accomplish in any set amount of time. Setting goals too high may be unrealistic and more difficult to stay on track.

Relevant – does this goal make sense for you as an individual? Is it worthwhile to you? It wouldn’t make sense for someone in their early twenties with student loans to start saving for their future children’s student loans when they have loans to pay off themselves. 

Timely – set a time frame for the goals to be completed within. Maybe that’s 1 week, 6 months, or 1 year.

A good example of a smart goal for someone in their 20’s with a job, student loans, medical bills, no children, and no savings. 

I will put $100 into savings every month for a year. After 1 year, I will reassess and increase the amount by $50 if possible.

Specific – $100 is going into my savings account every month

Measurable – $100, every month

Attainable – $50 every two weeks is very achievable 

Relevant – It makes sense for a twenty-something to start saving early and in small increments

Timely – Each month there will be $100 put into savings for 1 whole year. This will equate to $1,200 for the year.

Our representatives are excited to discuss how to create your own SMART goals!

Subscribe Today

Subscribe to our monthly newsletter to receive all of the latest news and articles directly to your inbox.