Want some great resources and references?
Easily explore your best money options
I’m a paragraph. Double click here or click Edit Text to add some text of your own or to change the font. This is the place for you to tell your site visitors a little bit about you and your services.
YOU GOT THIS
Everything you need — totally free
Expert info
Our objective and award-winning editorial team of 80+ Nerds make even the most complicated money questions and topics simple to understand.
Helpful tools
Side-by-side comparisons, smart calculators and straightforward simulators help you make sense of your options.
Tailored insights
Tell us more about you and we'll recommend things like the best credit card for your spending habits, simple ways to up your credit score and more.
HOME SWEET HOME
Get smart about buying your first used card
Whether you want to know how much house you can afford or see today's mortgage rates, we've got your back with calculators, advice and more.
To make sure your goals are clear and reachable, each one should be:
-
Specific (simple, sensible, significant).
-
Measurable (meaningful, motivating).
-
Achievable (agreed, attainable).
-
Relevant (reasonable, realistic and resourced, results-based).
-
Time bound (time-based, time limited, time/cost limited, timely, time-sensitive).
Professor Rubin also notes that the definition of the SMART acronym may need updating to reflect the importance of efficacy and feedback. However, some authors have expanded it to include extra focus areas; SMARTER, for example, includes Evaluated and Reviewed.
How to Use SMART
Paul J. Meyer, businessman, author and founder of Success Motivation International, describes the characteristics of SMART goals in his 2003 book, "Attitude Is Everything: If You Want to Succeed Above and Beyond." We'll expand on his definitions to explore how to create, develop and achieve your goals:
-
Specific
Your goal should be clear and specific, otherwise you won't be able to focus your efforts or feel truly motivated to achieve it. When drafting your goal, try to answer the five "W" questions:
-
What do I want to accomplish?
-
Why is this goal important?
-
Who is involved?
-
Where is it located?
-
Which resources or limits are involved?
Example
Imagine that you are currently a marketing executive, and you'd like to become head of marketing. A specific goal could be, "I want to gain the skills and experience necessary to become head of marketing within my organization, so that I can build my career and lead a successful team."
-
Measurable
It's important to have measurable goals, so that you can track your progress and stay motivated. Assessing progress helps you to stay focused, meet your deadlines, and feel the excitement of getting closer to achieving your goal.
A measurable goal should address questions such as:
-
How much?
-
How many?
-
How will I know when it is accomplished?
Example
You might measure your goal of acquiring the skills to become head of marketing by determining that you will have completed the necessary training courses and gained the relevant experience within five years' time.
-
Achievable
Your goal also needs to be realistic and attainable to be successful. In other words, it should stretch your abilities but still remain possible. When you set an achievable goal, you may be able to identify previously overlooked opportunities or resources that can bring you closer to it.
An achievable goal will usually answer questions such as:
-
How can I accomplish this goal?
-
How realistic is the goal, based on other constraints, such as financial factors?
Example
You might need to ask yourself whether developing the skills required to become head of marketing is realistic, based on your existing experience and qualifications. For example, do you have the time to complete the required training effectively? Are the necessary resources available to you? Can you afford to do it?
Tip:
Beware setting goals that someone else has power over. For example, "Get that promotion!" depends on who else applies, and on the recruiter's decision. But "Get the experience and training that I need to be considered for that promotion" is entirely down to you.
-
Relevant
This step is about ensuring that your goal matters to you, and that it also aligns with other relevant goals. We all need support and assistance in achieving our goals, but it's important to retain control over them. So, make sure that your plans drive everyone forward, but that you're still responsible for achieving your own goal.
A relevant goal can answer "yes" to these questions:
-
Does this seem worthwhile?
-
Is this the right time?
-
Does this match our other efforts/needs?
-
Am I the right person to reach this goal?
-
Is it applicable in the current socio-economic environment?
Example
You might want to gain the skills to become head of marketing within your organization, but is it the right time to undertake the required training, or work toward additional qualifications? Are you sure that you're the right person for the head of marketing role? Have you considered your spouse's goals? For example, if you want to start a family, would completing training in your free time make this more difficult?
-
Time-bound
Every goal needs a target date, so that you have a deadline to focus on and something to work toward. This part of the SMART goal criteria helps to prevent everyday tasks from taking priority over your longer-term goals.
A time-bound goal will usually answer these questions:
-
When?
-
What can I do six months from now?
-
What can I do six weeks from now?
-
What can I do today?
Example
Gaining the skills to become head of marketing may require additional training or experience , as we mentioned earlier. How long will it take you to acquire these skills? Do you need further training, so that you're eligible for certain exams or qualifications? It's important to give yourself a realistic time frame for accomplishing the smaller goals that are necessary to achieving your final objective.
Benefits and Drawbacks
SMART is an effective tool that provides the clarity, focus and motivation you need to achieve your goals. It can also improve your ability to reach them by encouraging you to define your objectives and set a completion date. SMART goals are also easy to use by anyone, anywhere, without the need for specialist tools or training.
Various interpretations of SMART have meant that it can lose its effectiveness or be misunderstood. Some people believe that SMART doesn't work well for long-term goals because it lacks flexibility, while others suggest that it might stifle creativity. For more information on the potential weaknesses of SMART, see our article, Locke's Goal-Setting Theory .
Tip:
For other goal-setting resources, see our articles, Golden Rules of Goal-Setting , Using Well-Formed Outcomes in Goal Setting , Personal Goal Setting , and Treasure Mapping .
Key Points
SMART is a well-established tool that you can use to plan and achieve your goals. While there are a number of interpretations of the acronym's meaning, the most common one is that goals should be Specific, Measurable, Achievable, Relevant, and Time-bound.
When you use SMART, you can create clear, attainable and meaningful goals, and develop the motivation, action plan, and support needed to achieve them.
Apply This to Your Life
Perhaps you've always dreamed of traveling around the world, but it's never happened. Maybe you tell yourself it's because you don't have the time or the money, and you'll think about it next year.
Try setting SMART goals to help make your travel plans specific, measurable, achievable, relevant, and time bound. You might find that the real reason you haven't traveled is because your plans have been too vague or unrealistic. Think about how you can adjust your vision and rephrase it as a SMART goal, so that you can make your dream come true.
This site teaches you the skills you need for a happy and successful career; and this is just one of many tools and resources that you'll find here at Mind Tools. Subscribe to our free newsletter, or join the Mind Tools Club and really supercharge your career!
Get Our Free Newsletter
Learn new ways to rebuild your life every week, build skills to last a lifetime, plus get our Life Audit workbook, free!
Free Life
Management Toolkit
Get this new toolkit FREE when you become a member before December 5.
Support Our Work
By Shopping At Our Shop
Help our team continue to do what we love and delivering information that helps rebuild your life. Find our latest design apparel and other addiction2success designs today.
References/Resources
Creditsesame
Free Credit Score,
Free Digital Banking.
Bitly
Create Click-Worthy Links
Creditkarm
Credit scores and more
Mint intuit
All your money in one place
Grow Your Money With Acorns
https://www.acorns.com/invite/LL4MM2
Investing With Robinhood
Sign up to get your 1 Free Stock
https://join.robinhood.com/kerbym23
Google Analytics
tracks and reports website traffi
Rakuten
Get paid for shopping online
What Are YOUR THOUGHTS
Provide Your Feedback
What Are You Concern
Let us know your suggestions or any bugs on the site, and you could win a $50 Audible voucher!
Click here to tell us.
OF THE DAY
Deal
Describe what you offer here. add a few choice words and a stunning pic to tantalize your audience and leave them hungry for more.
Fresh
MARKET
I'M AN ORIGINAL CATCHPHRASE
I’m a paragraph. Double click here or click Edit Text to add some text of your own or to change the font. This is the place for you to tell your site visitors a little bit about you and your services.