Who doesn't want to be SMART?? Everybody is the answer. But in what aspects do you want to be smart. May be by look or overall a smart person.
This blog is about to change the way you read the word as just a word. "S-M-A-R-T" is a tool to achieve your goals. Infact, it can be applied to achieve any big or small goals, short term or long term goals. So, let's begin.
Now because we are interacting on a specific platform which encourage finances along with many other. I shall be explaining it through a financial example only, but do remember it can be applied on any goal of your life.
What is "SMART" REFERRING TO ??
S : Specific
It is the deciding factor or it determines about what are you going to work on?? Why are you willing to put so much effort??M : Measure
It is all about data - past, current and future data. And a metric which helps you to reach the goal.A : Achievable
Do you have the capability or skillset of accomplishing it?R : Realistic
Is it worth it in real-time or just imagining.T : Time-bound
There are lifetime goals, but other than that every other goal should have a deadline.
But to make this more prominent let's take an example and apply this.
- Create Emergency Fund
Well before proceeding I would like to mention I have already written about Emergency Fund - what is it? Why is it important? So, if you want you can and read, I would share the link below
@raka/planning-for-emergency-funds
Be Specific that yes I have to create an emergency fund of $1,000. Then what Measures are you going to take to achieve it. What expenses you have to cut down ? You going to take out money weekly or monthly. You will definitely Achieve if you set an auto-debit but whether it is Realistic or not. For that you have to budgeting then only you can control the unnecessary expenses. And by which month you will be ready with your emergency fund. You have to set a Time like by 6 months.
I hope this short article helps you big time.
Thank You For Reading
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