FINANCIAL BASICS

SET GOALS THAT ARE SMART.

SPECIFIC

State exactly what you want to achieve, how you’re going to do it, and when you want to achieve it.

General Goal Statement: I want to improve my finances.
Specific Goal Statement: I want to pay off my medical bill in eight months by negotiating a payment plan with my doctor.

MEASURABLE

A goal should be measurable so you know when you have achieved it.

General Goal Statement: I will pay off most of my credit card debt soon.
Measurable Goal Statement: In the next six months, I will pay three of my five credit card bills in full.

ATTAINABLE

Make sure the goal is within reasonable reach.

General Goal Statement: I will save money.
Attainable Goal Statement: I will save $1,000 in a year by putting aside $3 each day.

REALISTIC

Be honest about your limitations.

General Goal Statement: By managing my money well, next year I will become a millionaire.
Realistic Goal Statement: By managing my money well, in two years I will be debt free and have an emergency fund equal to two months of living expenses.

TRACKABLE

Set goals that encourage you to progress toward your goal.

General Goal Statement: I will increase my savings goal every year.
Trackable Goal Statement: Each year I will save 5% more than the previous year. 

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