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STEP 1: Setting SMART Financial Goals

If you're going to run in a race, don't you want to know how long it is? Of course you do! If you know the race is a 10k and ends at the top of a steep hill, you can plan your pace and even develop a training plan. Many athletes envision themselves crossing the finishing line. It helps them maximize their ability to reach their goal. They begin with the end in mind.

Using this web page, you will demonstrate an understanding of SMART Goals by creating a list of 5 things you spend your money on, determine if these items are a want or need and set three SMART financial goals, one short, one intermediate and one long term with 90% accuracy.
  Step 2: Analyze  
  Step 3: Plan  
  Step 4: Implement  
  Step 5: Monitor/Modify  
       
         
      Start by clicking here to find out what a SMART Goal is...  
         
      After viewing the What is a SMART Goal video, list below 5 things you spend your money on. Next to each item you list, indicated in parenthesis if this item is a need or want. Example: Candy (want)  
             
    Need v Want  
       
       
       
      Now compare your answers with those of your classmates. Do they agree with your answers?  
       

Your values and beliefs are important to you. Therefore it would make sense that your values can influence and affect the choices that you make, including choices about money.

From the SMART Model we have learned that is is not good enough just to set a goal. A good goal should be measurable. Goals that you want to achieve within the next three months are called short-term goals. Goals that are set for three month to a year are called intermediate-term goals and long-term goals are ones that takes more than a year to achieve.

 
             
     

How long will it take?

Using what you have learned about short, intermediate and long-term goals, consider how long it will take to meet the goal listed below. Categorize each goal by marking it Short, Intermediate, or Long.

 
             
   
         
        Now Your Ready!  
             
      Using the form below and the SMART model, set one short-term, one intermediate and one long-term Financial goal.  
             
       
     
     
  Step 2: Analyze  
     
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