Setting Smart Millionaire Goals

I've been inspired by the “SMART goal method” recently, and have seen so many entrepreneurs and influencers talking about how they use this analytical method to achieve their business goals!

SMART millionaire goal-setting works like this:

Specific: What exactly do you want to make happen?
Measurable: How much will you need to budget for it?
Achievable: Is this a realistic goal, given your current income?
Relevant: Do you really want it enough to take steps and make it happen?
Time-Bound: When do you want to accomplish it by?

An example of a SMART financial goal would be:

Specific: I want to save $5,000 for a vacation over the next 12 months.
Measurable: I will save $417 per month for 12 months.
Achievable: I will be able to save this money because I'm planning to cut back on discretionary purchases and eating out.
Relevant: I'm going to be really motivated to save this money because I have a dream destination I can't wait to visit.
Time-bound: As long as I stick with my savings goal, I will be able to book my vacation in 12 months!

It's easy to say "I want to go on vacation..." and leave it at that. No vacation happens, most likely. To make our goals come alive we need to get SMART and come up with practical, straightforward steps we can act on each day, week, or month until we get where we're going!

Sarah