Making This Your Year of Change with SMART Goals
If one of your priorities in 2018 is getting your debt and finances under control, it helps to set a goal.
The advantage of getting started now is that you have an entire year ahead of you to reach your goal. A very popular goal setting approach is creating a SMART plan (Specific, Measurable, Achievable, Realistic, Timely). Here’s how you create a SMART goal:
* Specific: What you are looking to accomplish? For example, you may want to pay back one of your student loans, reduce your credit card debt with the highest interest rate, or start an emergency fund.
* Measurable: How much do you want to pay down, or save? For example, you may decide to repay half of your remaining student loans, or save $85 a month for emergencies. Did you know that by saving $85 a month, you would have a little over $1,000 saved in one year?