How to Create SMART Financial Goals – Make Them Measurable

When we last talked about goals I told you that you should make your goals S.M.A.R.T. (Specific, Measurable, Attainable, Relevant, and Time-Bound) to help you in achieving them. We discussed making a goal Specific so that you have one concrete goal to shoot for and you know exactly what you want to accomplish rather than a big general category that’s hard to finish.

Today let’s talk about the next step – making your SMART financial goal Measurable.

You need to make a goal measurable, you need to know exactly how much you are going to achieve.  Without a way to measure your goal, how can you track your financial progress?  How will you know if you are making headway towards the financial goal?
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How to Create SMART Financial Goals – Be Specific

It’s that time of the year where people decide to start fresh and make new goals (many of which are financial goals). But did you know that according to a 2007 survey by British psychologist Richard Wiseman, 88% of resolutions end in failure?  We tend to try and do too much with little willpower to achieve our resolutions.

One way we can help ourselves to success in our resolutions is to make them S.M.A.R.T. – Specific, Measurable, Attainable, Relevant, and Time-Bound.

Today, let’s focus on Specific.

To achieve your goal, it helps to make it specific.  Many times, we make our goals too general, which makes a goal difficult to follow through on.
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