Information

• Project: Annual financial planning
• Category: Tax / Gross profitgn
• Client: Ingrid Linda
• Complete Date: 21/11/2023
• Process: Personal Financial Planning S.M.A.R.T. Goals
  S stands for specific goals.
  The more specific your goals are, the more likely you are to achieve them. Don't just say "I want to be richer" or "I want to pay off my mortgage." For example, "I need to increase my loan payments by $x per year so that I can pay off my debt in 5 years."
  M stands for measurable goals.
  Measurable goals are a clear definition of success. Whether you want to reduce your expenses by $1,000 a month or invest an extra $5,000 next year, make sure you can measure your progress with numbers.
  A represents consistent goals.
  When you include your partner or family in your personal financial plan, you're more likely to stick to your goals. Having support from your family will make you more responsible. Both factors can impact your personal financial pursuits.
  R stands for realistic goals.
  If your goals are unrealistic, you are bound to fail. The difference between realistic goals and unrealistic goals can be a small adjustment. For example, if you can't pay off your mortgage in the next 10 years, set it to 15 years. Stay true to reality.
  T represents the target time frame.
  By setting goals with a time frame, you can give yourself a sense of urgency. Deadlines motivate people to use their time efficiently.