Post them somewhere like your refrigerator. That’s where a framework really helps. This gives you a chance to look at how you're doing and make adjustments to your goals as needed. Checking in once a week or once every other week might be a good starting point for you. For more information about the services we provide, visit FLCU.org or call us at 1-800-284-1144. Put everything, from the practical and pressing to the whimsical and distant, on the table for inspection and weighing. *Please note that Carlo Borrelli is not a tax agent or accountant and none of the content outlined here should be taken as personal advice. Founded in 1954 as the Alachua County Teacher’s Credit Union, FCU now services over 100,000 consumer and business members in 45 counties throughout North and Central Florida. To overcome this obstacle, sit down and think about why you want to have a better handle on your finances. You need to be able to track your progress and have a specific target to hit. Don't plan to earn an extra $100 if you don't have a plan for how you're going to make that happen. Setting a goal to put aside $50 a week from your side hustle so you can save up for a new car is a relevant goal if you've been wanting a new car or need to replace your existing car. Give yourself a deadline so that you feel a sense of urgency and know that you need to take action within a certain time frame. 18 Smart Personal Finance Goals to Pursue this Year Whether the objective is to get personal finances back in check or to save more money, consider the following examples of personal financial goals. Set Measurable Financial Goals Another aspect on how to be financially smart, you should be definintive in terms of measurability. Everything about SMART goals: what they are, how to set them, why they’re important + 10 free SMART goal templates you can use right now. Save my name, email, and website in this browser for the next time I comment. Here's a breakdown of what each of these terms means: First, your financial goals need to be specific. When things are uncertain, it’s more important than ever to have a baseline for what you want to achieve – to give you a direction to move towards. That's not enough, though. You must have a plan to acheive your biggest goals. Just make sure your reward doesn't derail your progress. Seeing them often will remind you what you want to achieve. Now, you have a specific number to aim for when working your side hustle. What's your credit score? With COVID-19 well upon us, it’s important to set realistic financial goals and be SMART. Setting financial goals like paying off debt can help you work toward the future you want. Florida Credit Union is a full-service financial institution. Read on for some tips that will help you set smart financial goals that you can actually accomplish in 2020. We show you how to create goals that are Specific, Measurable, Actionable, Result-focused, and Time-bound. If you're just storing everything in your head, it'll be easy to let them fall by the wayside when life gets busy. You should consult your tax agent and financial adviser to review your current personal finances and financial goals to consider whether this strategy is appropriate for you. Second, the goals you set must be measurable. SMART is indeed very smart and is very well indicated when you never done financial goals before. Bank online, with our mobile app, or visit one of our conveniently located branches in Gainesville, Ocala, Lake City, Starke and DeLand. You should consider your own financial position and requirements before making a decision. Time bound: so, you have a deadline to focus on and something to work towards. If you follow the tips listed above, you should have a much easier time staying on track and accomplishing your goals. Thanks to online banking, it's easy for you to handle money management basics like looking at your accounts and making payments from the comfort of your own home, so you have no excuse not to check-in with yourself often. Here’s how to set and reach your goals. Here is an example of how to make sure each layer of your skeleton is still SMART. SMART stands for "Specific", "Measurable", "Achievable", "Relevant", and "Time-Based". Applying SMART to your personal financial savings goals can help you set achievable goals in everything from earning more money and paying down debt, to improving your credit score and investing in yourself.