My Story: The SMART Goal System

My husband and I use the SMART goal method (taught a variety of ways). The SMART acronym is specific, measurable, attainable, realistic, and time bound. I also utilize this method to teach my high school students to formulate goals (education, financial, physical, personal, social, etc). It is critical to write goals down! As an individual and as a married couple, there is nothing more exciting than checking off our list of long anticipated dreams/goals!

We also keep a poster board in our bedroom with sticky notes of different colors with different types of goals written down that we want to achieve (short-term, month-by-month, and long-term).

SMART Goals photo from Shutterstock

Here is an example of the SMART method for a short-term financial goal (under one year) I want to achieve.

Specific: Beginning this November, we want to save $400 per month to attend the Dave Ramsey's certified financial counselor training in Tennessee in ten months (August 2013).

Measurable: We'll need $4000 total (counselor training costs $2950, the cost of roundtrip airplane ticket from WY to TN will be approximately $850, and meals for four days will be approximately $200). (You can include money amount, test score, fitness test, or anything that can be measured.)

Attainable: Here are our five steps to achieve this goal.

1. Contact representatives about the training and ask questions.
   
   
2. Send in $500 sign up fee for the training/class along with completed application.
   
   
3. Make arrangements for time off at work if training falls during the school year.
   
   
4. Make arrangements for travel (airplane, hotel, and taxi to destination).
   
   
5. Complete payment for training ($2450.00). Buy plane tickets. Set aside money for meals.

Realistic: Is this realistic or not? If not, reformulate goal. Please note that this is not a perfect process. For instance, I may need to save money ahead of time to purchase cheaper airline tickets!

Time Bound: To be completed by August 2013.

"My Story" is a regular feature of The Dollar Stretcher. If you have a story that could help save time or money, please send it to MyStory@Stretcher.com

Share your thoughts about this article with the editor: Click Here

Copyright 1996 - 2013 "The Dollar Stretcher, Inc." All rights reserved unless specifically noted.

Contact the Dollar Stretcher at:
Dollar Stretcher
PO Box 14160
Bradenton FL 34280
941-761-7805

"The Dollar Stretcher, Inc." does not assume responsibility for advice given. All advice should be weighed against your own abilities and circumstances and applied accordingly. It is up to the reader to determine if advice is safe and suitable for their own situation.

Also In This Week's Issue

• Don't let bill errors empty your wallet
• Try again: 6 tips for relisting an unsold home
• Does a commercial range belong in a home?
• 7 travel insurance tips for hurricane season
• How to handle your parents moving in with you
• 7 tips for renters
• 9 reasons your credit card was declined
• Filing Ch. 7 on your own? Avoid these mistakes
• How to pay debt while improving credit score
• Avoid making this common investing mistake
• Life insurance from marriage into midlife
• Affordable life insurance after 50? Or 60?

In The Dollar Stretcher Community

• Free water! Using a rain barrel
• Homemade smoothies

Reader Favorites

• Cleaning fiberglass showers
• Grandma's beauty secrets
• Why use a pressure cooker
• Make money at the farmers market
• Easy desserts