Acronyms often make it easy for us to remember how to do things, here is an acronym for your financial goal setting:

S: Be specific with what you want to achieve. Here is an example: “I want to save $5000 for a trip to Italy”.

M: make your goals measurable. An example of this would be stating specifically how much money you want to be saving every month.

A: Make your goal achievable. Based on your own financial situation, make sure you set a goal you can achieve.

R: Your goals should be relevant. For example, if your car needs to be replaced soon, do the homework necessary to be able to save for that specific goal.

T: Timely. Set a deadline for your goals. Each goal will have a specific deadline, this will help you stay on track for success.

*ChatCPT is source of SMART

Disclosures:http://www.hechteffect.net/?page_id=31