Setting a SMART goal
In all the years that I’ve been setting goals I’ve realized one major thing: it has to be realistic. If the goal is too big or too vague it isn’t going to happen.
Goal setting needs to be realistic. You have to realize that you aren’t going to change your life in one fail swoop. You can’t set a goal to pay off debt and then in one month have all your credit cards paid off. Unless you win the lottery or have a very small amount to pay off. You get the idea though. You can’t decide to do something really big and then have it magically happen because you set the goal.
You can have a big goal. A big, giant, crazy-to-say-out loud goal. You could have a goal that if you accomplished it your life would feel much more in control and better. Those goals are great. But, you have to be realistic about how you are going to achieve that goal. The goal has to be SMART.
What’s a SMART goal? It is specific, measurable, attainable, realistic, time driven.
Let’s say you have a goal to pay off $10k in debt on your credit cards. You can set that goal but if you don’t make a plan it won’t happen. Goals, sadly, aren’t magic. Just because you set them doesn’t mean that they’ll happen.
So, let’s say you have a plan to pay off $10k in debt. You want to eliminate all your outstanding debt on your credit card. You have to break down your goal.
SMART goal:
Your SPECIFIC goal is to pay off $10k in credit card debt.
Your MEASURABLE goal is to be able to see you much you’ve paid off. You can create an Excel spreadsheet or take a piece of paper and break down the $10k into smaller $100 dollar increments, for example. Every time you pay down $100 you color in one of the boxes. It will give you a visual representation of how far you are getting. It will give you a sense of accomplishment every time you get to fill in a new box.
Your ATTAINABLE goal is to be able to pay a specific amount in a predetermined amount of time. How long do you think this will take? How much can you realistically put toward paying down this debt each paycheck? How did you get to be $10k in debt and what will change so that you aren’t going to continue to be there in the future?
Your REALISTIC goal is just that. Is this realistic? Can you pay this amount off? Look at the goal you’ve set and see if that makes sense so far. Maybe you have to adjust it. Are you being too ambitious? Are you really going to be able to pay down an extra $100 every paycheck? Maybe it is $50 for starters to get you going and getting some momentum.
Your TIMELY goal is the amount of time that it is going to take you.Setting this portion of the goal requires you to be realistic with the amount of time it will actually take. You could say you are going to pay off $10k in debt in one year but if the other part of your goal isn’t solid and realistic you aren’t going to achieve it in the time you’ve determined.
Setting a SMART goal makes you take the time to figure out the steps that it will really take to achieve it. Do yourself a favor and take the time to go through the steps. You are more likely to achieve the goal if you think it through. You can easily say you are going to get out of debt, but if you don’t figure out the steps you are going to be in the same place, or worse, that you’re in now this time next year.
You can do it! You can set and achieve big goals. They just have to be SMART and well thought out. Create a plan and stick to it. Even when it is hard. Always be making steps in the direction toward your goals.
