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Living Simplii
Money explained
Are you ready to make saving money simple? Check out this SMART strategy for easy financial goal-setting.
What’s a SMART goal?
- Who: Who will be involved? Is this a personal goal or one that you hope to achieve with a partner?
- What: What are you trying to accomplish? The more detail, the better.
- When: What is your time frame for achieving this goal?
- Where: If the location is relevant, consider it when developing your goal.
- Why: Why is this goal of value? Knowing your “why” is important because it’ll keep you motivated throughout the process.
- What you’ll measure, like dollars saved or annual contributions to your RRSP.
- How often you'll measure, maybe weekly or monthly.
- How you'll keep track of your data, like with a pen and paper or spreadsheet.
What makes the SMART strategy so useful?
Vague goals versus SMART goals
Is it specific?
Great rates. No monthly fees. As simple as that.™
Written by
Jessica Martel
Jessica is a professional researcher and freelance writer. She writes about personal finance, psychology, parenting and higher education.
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