4.3 Improving Your Goals: Make them S.M.A.R.T
Let’s start with a common goal and see how to revise it using SMART. Imagine your goal is to save money to buy a car. This is a good goal, but it is vague, which means it will be more difficult to achieve and lacks the planning needed for you to stay on target. Let’s look at how to make this a SMART goal.
Goal: “I want to save money to buy a car.”
1. Specific
The first step is to make it specific. This means that you need to narrow and focus on your big idea. Ask questions like who, what, where, when, why and how. In this case, you should ask, how much money do I need to save? What exactly do I want to buy? You may need to do some research to help.
Revision 1 (Specific):
Goal: “I want to save $5000.00 to buy a used car.”
2. Measurable
This is now specific and somewhat measurable, but how can we make it more measurable? The fact that you have identified an amount is a big help. However, it isn’t clear how you will meet that goal. Adding specificity increases the chance of accomplishing your goal. Also, making it measurable helps you keep track of your progress. Creating a visual or adding incentives to help you keep going may be worth it. For this goal, you might ask, how will I save the money? One way to add another measurable element might be to save a set amount from each paycheque or each month or to set an end date or other time frame.
Revision 2 (Measurable):
Goal: “I want to save $5000.00 to buy a used car by saving $150.00 per paycheque.”
3. Attainable
Attainability means that it is possible to meet your goal. Your goal needs to be manageable with everything else going on in your life. Sometimes, this means going a bit slower or sacrificing a bit more. Can you manage with $150.00 less each paycheque and still pay all of your bills? If so, great; if not, you must adjust your goal to be more attainable. Most of the time, making a goal attainable means balancing this priority against others. You may need to take something else away. For example, you could lower your monthly bills by ordering food less frequently. Ensure that your goal is attainable; if you attempt something that is so far out of reach, it is easy to become discouraged and give up.
Revision 3 (Attainable):
Goal: “I want to save $5000.00 to buy a used car by saving $150.00 per paycheque by never ordering takeout.”
4. Relevant
You can see your goal is getting bigger, but you are also planning a way to make it successful. To determine if your goal is realistic, you must do some reflection. Think about your personal circumstances, skills and past behaviours. To determine if it is relevant, do some research. Sometimes, our expectations are much bigger or smaller than they should be. Explore options and see how other people have done it. You must check to ensure that each part of your goal is realistic and relevant. Will $5000.00 buy you a good used car? Is saving $150.00 per paycheque realistic? Is never eating out realistic if you usually order takeout every night? If so, great; if not, this is the time to make adjustments. Ensure you choose something that is relevant to your situation, if you love take out and your workplace is on the bus route, maybe saving for a car isn’t really relevant for you.
Revision 4 (Realistic and Relevant):
Goal: “I want to save $5000.00 to buy a used car by saving $150.00 per paycheque by ordering take out only twice a week instead of every night.”
5. Time-Bound
The final element of a SMART goal is time-bound. This is where we add the element of time to the goal. Goals need to have end dates to help keep them practical and attainable. Your time element still needs to be realistic and relevant. Sometimes, times are connected to major life events, like graduation. Other times will be based on other factors, like your income or level of skill development. If you wanted to save $5000.00 by setting aside $150.00 per paycheque, that would take roughly 34 paycheques. If you are paid biweekly, saving this money would take 16 and a half months. Is a little more than a year a reasonable amount of time to save? When and why do you need the car? If you want a car sooner than this, you need to adjust one of the elements, such as how much you save each paycheque.
Revision 5 (Time Bound):
Goal: “I want to save $5000.00 to buy a used car by saving $150.00 per paycheque for 34 pay periods by ordering take out only twice a week instead of every night.”
“Chapter 2.2 – Smart Goals” from Getting Ready for Work-Integrated Learning by Deb Nielsen; Emily Ballantyne; Faatimah Murad; and Melissa Fournier is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License, except where otherwise noted. Modifications: only used the section Improve Your Goals with SMART.
