Having a SMART goal is the first step to achieving it, but all too often, people get bogged down by the details of what it will take to achieve that goal. This can lead to feeling overwhelmed and ultimately giving up before they even start. But it doesn’t have to be that way! One simple tip for making a goal more manageable is to break it down into smaller steps.

What is a SMART Goal?

Setting a SMART goal according to your values is a great idea to make sure your goals is achievable. Here is what the letters stand for:

S – Specific (having a specific goal in mind.)

M – Measurable (Do you have a time frame? I needs to have an end date)

A – Achievable (Can you afford it each month or out of each paycheck?)

R – Realistic (After doing the calculations to see if you can afford it, is it impossible or does it feel stressful?) If stressful, rework the math until it feels comfortable.

T – Time (How long do you have to achieve this goal? Make sure it has a start date and an end date).

Example of a SMART goal

For example, let’s say your goal is to save $500 over the course of a year so you can save money for school clothes, shoes, extracurricular activities and school pictures. As a matter of fact, you decide on starting that goal on October 1st and end on July 31st. the following year. That might seem like an impossible task, but if you break it down into smaller steps, it becomes much more manageable. over the course of 10 months, that comes out to $50 per month, or $12.50 per week. And if you break it down even further, that’s just $1.67 per day. All of a sudden, saving $500 doesn’t seem so daunting anymore!

Tips

It’s really helpful to write down the date you are starting your goal along with the end date. This helps you realize if it is possible and realistic when calculating a monthly payment. When calculating your payments, make sure you can afford saving the monthly amount each month. This is how you decide if it is achievable.

What if it’s not achievable?

One option is to see how much you CAN afford out of each paycheck. If you can save $20 dollars out of each paycheck, (getting paid 2 times per month) then make sure that feels comfortable in your budget.

But what if you don’t have an extra $50 lying around? Not to worry – there are still plenty of ways to make progress on your goal. One option is to cut back on expenses in other areas. For example, if you’re spending $25 per week on coffee, cutting back to just one cup per day can free up $20 per week, which is almost halfway to your monthly goal!

One last thing…

Remember, when it comes to making a goal more manageable, the key is to break it down into small steps. By taking things one step at a time, you’ll be well on your way to achieving your goals – no matter how big or small they may be! Making a plan for Financial Success will lead you to happiness.