How to Create SMART Goals to Succeed with Money
March 11, 2021 | Louis Tully
When it comes to saving money, it can be hard to know where to start. SMART goals can help get you on the right track. We will also talk about how a payday loan can help in an emergency.
How to Create SMART Goals To Achieve Financial Success
What Are SMART Goals?
SMART stands for:
- Relevant (or realistic)
We’ll talk more about what each of these words means and how you can use them in the next section, but suffice it to say that SMART goals are a goal-setting tool that helps set you up for success by giving you a concrete task to complete within a set deadline. What’s more, with SMART goals, you can actually track your progress over time.
Why is this helpful? A lot of people set themselves vague and kind of amorphous tasks instead of real goals. Then they don’t achieve them because they have no idea where to start.
For example, many people might say, “I want to save more money.” That’s a wonderful objective to have in mind, but if that’s where you leave it, you’ll get nowhere.
If, instead, you say, “I want to save $20 out of every paycheck to fund my vacation next July,” the goal suddenly seems a lot more tangible. And therefore, you’re more likely to achieve it.
How to Create SMART Goals
Now that you know what they are, you’re probably wondering how to create SMART goals to reach financial success.
Every time you set a goal, you should ask yourself five questions, related to the SMART acronym:
- Is the goal specific? Think about exactly what it is that you want to accomplish and figure out why you want to accomplish that thing. Going into goal-setting with this clarity will help you feel motivated to complete the task.
- Is the goal measurable? With monetary goals, this is a pretty simple step. If, for example, you want to save more money, set a goal of how much you want to save each week or each month. If it’s something that you can track, then the goal is measurable.
- Is the goal achievable? Goals should be difficult but not impossible. Before deciding on what your goal is going to be, look at your current financial situation and determine what your limits are. For example, if you’re only making $2,500 per month, you probably shouldn’t set a goal to save $2,000 every month.
- Is the goal relevant (or realistic)? Does the goal fit with your other goals? Is it something that you care about and really want to do? Does it seem like it would be worth it?
- If your answer to any of these questions is no, then you should rethink the goal and tweak it so it works better for you. After all, if you don’t care about something, you’re not going to work hard to achieve it.
- Is the goal time-bound? This is arguably the most important step.
- Whenever possible, you should set a deadline to achieve your goal. This helps you stay focused because there is a clear end that you’re working toward. Ask yourself when this task needs to be completed and break it down into pieces so that you know you’re staying on track.
That’s how to create SMART goals that will let you focus on the things you truly care about and start you on the path to where you want to be in life. Making sure that you’re constantly aware of where you are and where you’re going will keep you from losing your way. And if you do lose your way, the knowledge of how to create SMART goals can help you get back on track faster.
How A Payday Loan Can Help You Achieve Your Financial Goals
At Utah Title Loans, we offer payday loans to get you back on your feet when one of life’s surprises knocks you off track. A payday loan can be used for medical emergencies, important travel, and auto repair expenses, and they’re easy to get, whether you have good credit, bad credit, or no credit.
If you’re in an emergency and you need money fast, we can get you a payday loan in as little as 30 minutes. Just:
- Fill out our online form.
- Wait for a call from a representative.
- Come to the nearest location with your government ID, your most recent pay stub, and a blank check from a checking account in your name.
- The representative will walk you through the process, and if you’re approved, you’ll receive your money the same day.
A payday loan is designed to get you out of a tight spot when you need a little extra boost, and if you need help paying off your payday loan, our representatives can set up payment arrangements that work with you and your state’s laws.
Now you know how to create SMART goals for monetary success, and how a payday loan from Utah Title Loans can help you get back on track in situations when life doesn’t go the way you planned.
Don’t wait to learn how to create smart goals, do it today! Work towards your best possible success with the help of Utah payday loans.