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Specific Measurable Attainable Realistic Time bound
SMART Goals 1: Set SMART Goals 2: Analyze Information 3: Create A Plan 4: Implement The Plan 5: Monitor & Modify The Plan
Unit One: Your Finanical Plan
What's So Important About Financial Planning? *Financial Planning : a process of setting goals, developing a plan to achieve them, & putting the plan into action.. *People who are good at making & following a financial plan are able to live comfortably & buy nice things without guilt or stress. *Your financial Plan is like creating a roadmap for handling everything you do with your money- spending, saving, using credit, & investing..
Short Term Goal: A goal that you want to achieve within a the next three months. Mid-Term Goal: A goal that is set for three months to a year. Long-Term Goal: A goal that it'll take you more than a year to achieve.
ABOUT SMART GOALS -They should be meaningful to YOU. - Write them in a place where you will frequently read them, so you can be reminded everyday. -Stay dedicated, do whatever is needed of you to achieve them.
Guidelines For Sticking With Your Plan -Write Goals somewhere you will see often. -Tell other people about you goals. -When you are going to spend money think of how much you will need ahead of time. -Review your plan regularly so you know when you're starting to stray & can make adjustments quickly.
NEED OR WANT? Needs are the very basic things we must have to survive. Wants are the things that make life more interesting & fun, but you could live without them if you had to.
After Achieving Your Goals . . . Ask your Self- Are my exsiting goals still worth achieving? Is there a new goal to add to my list? Is there an existing goal I want to drop or change?
With a personal financial plan, you journey through life will be smoother. And when you come to forks in the road, you can move ahead with fewer hesitations. Rather than wandering aimlessly, you'll know where you want to go & have a better chance of getting there.
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