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How to set SMART Financial Goals (+FREE WORKBOOK)

Do you have BIG financial goals? I’m sure you do!

Do you feel like no matter what you try, you’re not making a dent in your debt? Or after years of working your butt off, you don’t have very much to show for it? Maybe your budget never works out the way you hope.

Here’s the thing: If you don’t put a plan behind your finances, it will be incredibly difficult to do well with money.


Experts recommend that, in order to be most effective, goals should be Specific, Measurable, Achievable, Realistic and have a Timeframe attached to them.

Setting solid, SMART financial goals is a great way to give your money a purpose and channel it into working for you!

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Why Is Setting Financial Goals Important?

Having a goal will change how you look at your money. You’ll start to see how every decision you make matters to your greater financial health. Remember, the way that you interact with your money today will impact your future.

5 Steps to Setting Financial Goals

Okay, now that I’ve told you how important and, really, life-changing goals are, here’s how to make them:

S– Specific: Define exactly what is it that you want to accomplish?Is it retirement, a vacation, a business venture, a new house or big-screen TV? Whatever your goal, be specific; for example instead of setting the goal to “pay off my credit card” you set the goal to “clear the R10,000 balance on my credit card by December 2020”.

Once you are clear on your goals write them down. Something special happens when you put a pen to paper and write down your goals. You’re more likely to actually achieve them, too. Then, stick them in your car, to your desk, or on your bathroom mirror. Keeping your goals where you can see them will keep you focused.

M– Measurable: How will you know if you have achieved this goal? Is it a certain amount of money you’re looking for? A rank or position in your company? You need to be able to measure your success.

Setting an exact number here gives you a measuring stick and a target to shoot for. Comparing that number to where you’re at now gives you an easy way to identify your progress toward that goal. If you have R50,000 in debt and your goal is debt freedom, every R500 you pay off is 1% progress toward that goal.

A– Attainable: I hope you really DO set your goals so high that they seem crazy and unattainable, but setting a goal to be a six figure blogger by next month…might be a little wild. Make your goals realistic and attainable so you don’t get frustrated and give up before you’ve even started.

R– Realistic: Are your daily, weekly, and monthly goals going to get you to your big year end goal? If they are not, tweek your goal setting.

T– Timeframe: Will you ever really reach your goals if they aren’t time-sensitive? Having a deadline not only gives you something to work towards, but it also gives you something to get excited about.

Check in with yourself at the end of each week and see if you have made progress. Don’t be afraid to give yourself a finish line and adjust it later if needed.

Financial goals will help you change your mindset, your habits and your life.

When you’re intentional with every rand you have, every rand will stretch farther. That means you get to do more of the stuff you want to do and plan for the things you’ll do in the future.

If you want to do more than you ever thought possible, go on and set some goals. Decide what you want your future to look like and figure out what you need to do today to make it happen.

You can get out of debt once and for all.

You can build wealth and pay for things that matter to you.

Goals will get you there!!

Loved this worksheet and want to go even deeper into your financial literacy and independence journey? Contact Me

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