Investing Success - SMART Goal Setting - A is for achievable

Our third topic focuses on "A"; A SMART goal is Achievable.

A SMART goal is achievable when it meets the following criteria:

1. The goal is something that you can personally influence (fixing Michigan's budget issue is probably outside of your range - unless your Rick Snyder)
2. The goal is important to you

Targets that are outside of your control decrease motivation. Imagine you're a high school teacher, and you have tell a group of honor roll students that regardless of their individual effort, all will receive a "D" at the end of the semester.

How much energy and enthusiasm will they put towards your class?

If you're trying to save $2,000 per month, and your current, pre-tax income is $4,000 per month, attaining this personal finance goal will be extremely difficult and frustrating.

But all is not lost. A specific, measurable, attainable goal can still be created.

Here are two sample options:

1. Decrease the dollar amount of your SMART goal
   
   1. Save $250 per month
2. Increase your monthly income
   
   1. Earn $5,000 per month (This goal is also specific and measurable)

Need help setting goals?

Download the new SMART Goal Template at Invest-Safely.com!

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Source:
SMART Goals Make Investing Plain and Simple
http://www.invest-safely.com/smart-goals.html