It’s almost mid-January 2019. Did you make resolutions like join the gym, go on a diet, gain new clients, or pay off debt? How many have you already failed at?
Instead of making resolutions, make goals. Goals are designed to help you identify what you want to achieve. Better yet, make your goals S.M.A.R.T. Having goals written in a S.M.A.R.T. format ensures that it is clear what, when and how you’re trying to accomplish. Everyone will benefit from goals and objectives if they are S.M.A.R.T.
S – Specific
When setting a goal, be specific about what you want to accomplish. Your goal should be straightforward, clear and emphasize what you want to achieve. Being specific will help focus your efforts.
M – Measurable
If you can’t measure it, you can’t manage it. Your goal should be measurable with progress. How will you see when you reach your goal? Be specific! When you measure your progress, you stay on track.
A – Achievable
A goal is meant to inspire, not discourage. The feeling of success which this brings will help to remain motivated.
R - Realistic Your goal should be ambitious but realistic. Be sure to set goals that you can attain with some effort! Too difficult and you set the stage for failure.
T – Timely
Time must be measurable, attainable and realistic. If you don’t set a time frame or deadline, the commitment is too vague. Your goal needs a clear target to work towards.
My goal is to pay off unsecure debt and save for the future. Now let’s revise it to be S.M.A.R.T.
SPECIFIC: I will pay off $10,000 in credit card debt. ($5,000 – Visa; $3,000 MasterCard; $2,000 AMEX) and have $2,500 in savings.
MEASURABLE: I will apply at least $300 each month to that debt. I will put at least $50 each month into a savings account.
ACHIEVABLE: I can achieve this if I cut back on discretionary spending.
REALISTIC: I can create and use a budget. I can check into balance transfer options to reduce APR finance charges.
TIMELY: I will pay off this debt and have at least $2,500 in a savings account in 36 months.
You will achieve your goals and objectives if they are S.M.A.R.T.!