Setting "SMART" Financial Goals to Build Wealth 🎯
Did you set or decide on financial goals for this year? It's now the end of January and statistics show that we often begin to fall off the wagon around this timeframe. In fact, nearly 80% of New Years Goals fall off completely by the 2nd week of February. And, 15% of those surveyed did not feel confident in the goals they set!
With that said, I'm challenging you to consider your current financial goals. Ask yourself these questions:
Am I still committed to my goals?
Am I confident in the ability to achieve my goals?
Can or should I refine and refocus my goals?
Regardless of how you answered those questions, these tips below can help you achieve success. Now, let's dig into this a bit.
First, write down your goals & post them somewhere you will see them often so they become a visual reminder to you. Get creative with this by creating a vision board or fun list with construction paper! Next, consider this.......
One effective approach to setting goals (of any kind) is called the SMART concept:
Now, you may be wondering........how do we put this into action?
Don't just say "I want to be debt-free" or I want to build savings." iNstead, check out these examples below:
1. Build a $1,000 emergency fund within 3 months.
2. Paying off $60,000 in debt within 3 years.
3. Save $20,000 for a house downpayment in less than 5 years.
4. Save $5,000 for a vacation within 1 year.
Can you see the SMART concepts in each goal?
Now, you try. Comment below what your SMART financial goals are & how to plan to achieve success.
Interested in digging deeper into this topic as it relates to building wealth?
Take a glance at the "Show Me the M.O.N.E.Y." course to get started today.
Go & Build Wealth Friends!