Sayonara, 2017! It’s about that time when everyone makes their new year’s resolution. Suddenly everyone swarms the gym and in comes the new-year-new-me posts. It’s actually a great thing! When you’re thinking about setting a goal, it’s important to make it a SMART goal. This method is used in business models and I also learned it in nursing school. You can learn more about SMART goals in this video here.

Make SMART Goals for 2018

Specific

• What is your goal and why is it your goal??

Measurable

• How will you measure the progress of this goal?

Attainable (or Actionable)

• Is this goal feasible enough to accomplish?

Relevant (or Realistic)

• This goal needs to be priority enough in your mind to stay motivated. An unrealistic goal will most likely fall through the cracks.

Time-Bound

• By when will you accomplish this goal?

My Own SMART Goal

When I first graduated I wanted to pay off my loans, but never specified how much I would’ve paid off and by when. Because I wasn’t strict about budgeting, I didn’t pay that much more than the minimum, and that’s why I’m here with my finances today.

I’ll share one of my financial goals: I will pay off a $12,430.34 federal student loan by April 20, 2018. This is a small chunk of my debt, but it’s the smallest loan amount I have, which makes it easier to accomplish. Now that I see the total and the due date, I know I’ll have to pay $3,107.58 for the next 4 months. That’s a pretty steep payment, huh? Being debt free is a big priority for me so there’s no doubt in my mind that I’ll be motivated to attack this goal. Then it’s on to the next.

The decision to do something takes much more time than actually doing it. Create a goal, map out your plan, and make that decision to do it. Keep yourself accountable by writing out the details of your goals, track your progress, and more importantly, stay motivated. You’ll be accomplishing more goals this year!

Millennial Challenge

• What are your SMART goals for 2018?