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Basic Step #8
Set Financial Goals

the word goal in a cloud

Be Smart About Your Goals

Perhaps you'd like to take a vacation next summer. Or, maybe you hope to go back to school in the next five years. Whatever your goals might be, you have a better chance of achieving them if you write them down. As you list your goals, divide them into three categories: short-term, medium-term and long-term.

  • Short-term goals might include buying a new computer or paying off credit card debt.
  • Medium-term goals could be purchasing a car or going back to school.
  • Long-term goals might include buying a home or retiring with enough money to live comfortably.
SMART goals - specific, measurable, achievable, realistic, time-bound

Try to set SMART goals. These are goals that are Specific, Measurable, Achievable, Realistic and Time-Bound. Make sure you prioritize your goals. Which ones are the most important to you? Work toward achieving these goals first.

Use the SMART Goals worksheet to get started.