Who, What, Where, When, Why, Which
Define the goal as much as possible with no ambiguous language.
WHO is involved, WHAT do I want to accomplish, WHERE will it be done, WHY am I doing this (reasons, purpose), WHICH constraints/requirements do I have?
From and To
Can you track the progress and measure the outcome?
How much, how many, how will I know when my goal is accomplished?
How
Is the goal reasonable enough to be accomplished? How so?
Make sure the goal is not out of reach or below standard performance.
Worthwhile
Is the goal worthwhile and will it meet your needs?
Is each goal consistent with other goals you have established and fits with your immediate and long term plans?
When
Your objective should include a time limit. “I will complete this step by month/day/year.”
It will establish a sense of urgency and prompt you to have better time management.
When we were young, we all had dreams and things that we wanted to accomplish. However, somewhere along the way, we got too busy trying to meet life’s daily demands — paying bills and taking care of our families — to ask, “what do I want to accomplish in life?”
When was the last time you thought about your financial goals? The ability to set realistic goals and work to achieve them is an essential life skill. How can one take control of their financial life? The answer is planning.
To establish a plan, you must first know what your goals are. Goal setting is a personal process that helps you get what you really want out of life. Goals give you something to work toward. They help you know where to focus your time and efforts.
Whatever your financial goals, they should be well defined.
Make sure your financial goals are S.M.A.R.T.