SMART Goal Personal Finance

By lenale
  • SMART Goal

    SMART Goal
    I want to buy a used car for $1000. I will save $100 from my paycheck of $300 for the car each week. The other $200 will go into my savings account for emergencies. Instead of spending the $100 on entertainment I will save it for the car. The opportunity cost of saving for a new car is higher than spending the $100 on entertainment. I will achieve this goal in about 10 weeks.
  • Specific+Measurable

    Specific+Measurable
    I want to buy a used car for $1000 dollars. I will start saving today. 9 Weeks until goal in achieved.
  • Attainable+Realistic

    Attainable+Realistic
    Instead of going to the movie with friends, I save the $100 for the car. I have now save $200 for the car and I have 8 weeks left to save.
  • Attainable+Realistic

    Attainable+Realistic
    I missed some days at work so my paycheck was only $250, I deposit all of the money. Deposit $200 into my savings account. I can take the opportunity to use the $50 to buy some new DVDs. 8 weeks until goal is achieved.
  • Attainable+Realistic

    Attainable+Realistic
    Went to work all week and earned the full $300. Deposit $200 into savings and save $100 for the car. 7 weeks until goal is achieved.
  • Attainable+Realistic

    Attainable+Realistic
    Broke leg falling off bike (this is why I need a car) Had to take $200 out of my savings and used this week's paycheck to pay for medical expenses. 7 weeks until goal is achieved.
  • Attainable+Realistic

    Attainable+Realistic
    Happy Halloween! I get a Holiday bonus of $100 dollars, so this week I put $200 in my savings and I save $200 for the car. 5 weeks until goal is achieved.
  • Attainable+ Realistic

    Attainable+ Realistic
    No problems this week. $200 into my savings and $100 goes to saving for my car. 4 weeks/ 1 month until goal is achieved.
  • Attainable+Mesurable

    Attainable+Mesurable
    Skipping out on buying that new book and having a free movie night at my house with my friends, I save another $100 dollars and put $200 into my savings. 3 weeks until goal is achieved.
  • Attainable+Realistic

    Attainable+Realistic
    Best Friend's birthday. I spend the $100 dollars on a birthday gift and put the $200 into my savings. 3 weeks until goal is achieved.
  • Attainable+Realistic

    Attainable+Realistic
    It's Black Friday, Instead of saving for the car, I splurge and spend my entire paycheck on Black Friday shopping. Not the smartest decision, but hey, I'm a teenage girl. 3 weeks until goal is achieved.
  • Attainable+Realistic

    Attainable+Realistic
    No other expenses this week. I put $200 in my savings account and save $100 for the used car. 2 weeks until goal is achieved.
  • Attainable+Realistic

    Attainable+Realistic
    Trading going lazer tagging with friends for saving my $100 for the used car and $200 into my savings account. 1 week until goal is achieved
  • Time Bound

    Time Bound
    This weeks paycheck was the final payment I need to buy the used car. Instead of taking 10 weeks to complete my goal it took a little over 12 with real life interfernce.