Setting goals for your money might sound boring, but it’s like creating a game plan to get what you want and feel awesome while doing it. Whether you’re saving for new sneakers, a new phone or your future, using the SMART goals system can help you get there. SMART goals aren’t just “smart” (like genius-level smart)—it’s a simple way to make your goals clear and achievable. Let’s break it down! 

What are SMART goals? 

SMART stands for: 

S – Specific 

M – Measurable 

A – Achievable 

R – Relevant 

T – Time-bound 

These five steps will turn any big idea into a goal you can actually reach. Let’s see how it works! 

First, make your goal as clear as possible. Don’t just say, “I want to save money.” Instead, get specific, like: “I want to save $50 for a pair of headphones.” Being specific helps you know exactly what you’re working toward. 

You need to know when you’ve hit your goal, so give it a number you can measure. In this case, your goal would be to save $50. You can track your progress—$10, $20, $30 … all the way to $50! 

Make sure your goal is realistic. Can you really save $50 in a few weeks? To find out, check how much you earn from allowances, chores or part-time work. If you earn $10 a week, and can put all your earnings into savings, saving $50 is possible in 5 weeks. If that feels too long, think about smaller goals—like saving $20 first. 

Is this goal important to you? Saving for something you care about makes it easier to stick to your plan. Ask yourself: Why do I want these headphones? Will they make me happy? If the answer to the second question is yes, you’ve got a goal worth chasing! 

Set a deadline for your goal. Deadlines keep you on track and give you something to target. For example: “I’ll save $50 in 5 weeks.” Now you have a finish line — and a game plan! 

How to reach your SMART goals 

Here are some tips to make it easier: 

• Break it down: If saving $50 feels big, focus on saving $10 at a time. 

• Track progress: Use a savings chart or a jar to see your money grow. 

• Cut back on spending: Skip small things like snacks or apps to save faster. 

• Earn more: Ask for extra chores or find ways to make money (like walking a neighbor’s dog). 

Setting SMART financial goals is like creating a map for your money. By being Specific, Measurable, Achievable, Relevant, and Time-bound, you’ll know exactly what you’re saving for, how to do it and when you’ll get there. Start small and stay focused—you’ve got this! 

This content is intended for general information and discussion purposes only. It does not constitute financial, legal, or professional advice. Readers should seek independent guidance from a qualified professional to ensure decisions are appropriate to their personal situation when applicable.