Goal Setting the S.M.A.R.T Way

“Setting goals is the first step in turning the invisible into the visible.”

                                                                                                                                 ~ Tony Robbins


Goal setting is one of the most important habits that you can form in life.  Nothing  can stop you if you know where you are going.


If there is no goal setting, then your dreams and wishes will forever remain great ideas. There are of course many ways to go about goal setting. However, throughout all the tried and tested methods, a method known as S.M.A.R.T goal setting is one of the top choices. Why? Simply put, because it contains all the elements to make your goals achievable and it really works.

Today, we are talking about the S.M.A.R.T method through financial terms, but you can take this foundation and apply it to all areas of your life. If you would like to watch the explanation on S.M.A.R.T goal setting on our YouTube Channel, then please click here.

(S) stands for Specific

The first letter in S.M.A.R.T goal setting stands for specific. This means that the goal that you set must be as specific as possible.

In other words, instead of setting a loose ended goal such as “I want to be a millionaire”, rather set a goal that is very specific.  Such as, I want to have a growing savings account of R20 000 within 12 monthsThe more specific the goal is, the better your chances are of succeeding (M) stands for Measurable

The second letter in S.M.A.R.T goal setting is ‘M’, and it stands for measurable. This means that you need to put a plan in place that can be measured. A loose ended goal such as the ‘I want to be rich’ cannot be measured, however, our specific example can be. If your goal is to have growing savings of R20 000 within 12 months, then you would look at a savings account   that can give you the highest interest rate possible. You can  also  measure the success of your SMART goal  by drawing bank statements each month to see how much you have saved and how your money is growing.

(A) stands for Attainable

The third letter stands for attainable. Your goal needs to be attainable in your eyes. You need to set a goal that you can act on. Let’s say for example, you cannot save money each month because your expenses are too high . Then your goal setting would first have to concentrate on how to bring in a greater income in the long run or to reduce your expenses to make your goal attainable.

(R) stands for Realistic

The ‘R’ in S.M.A.R.T goal setting stands for realistic. While attainable covers the method, the realistic part needs to be realistic to you. If you do not believe that your goal is realistic then do not set it that high. Rather set a few small goals that you believe that you can attain, and as you go along, you will see that you get better and better. When that happens, your goals can get larger and larger.

(T) stands for Time-bound

There should be no goal setting without a timestamp on it. You need to set a time for it to get your mind into gear. The time-bound aspect of S.M.A.R.T goals assists you to shift your life and leisure activities in such a way that you will be able to reach your goals.


Remember that goal setting is not a fixed aspect of life, it is simply a tool to assist you in your life. Many believe that goal setting is nothing more than putting ideas on paper and wishing they would work. This could not be further from the truth. Every time you set a goal, no matter how small it may seem, and you achieve it, your mind shifts into the gear of right action. With your finances, goal setting can get you into a better position within a few months. If you still want to watch the video, click here.

If you need assistance with your debt repayments, contact us to see how we can be of service and provide you with immediate financial relief.

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