In order to create and track successful goals, it’s helpful to use a model to remind yourself of the key components. 

Setting goals, especially a long-term goal, can feel like a daunting task. Or if you don’t even plan you might realize that there’s more to it than you thought. 

Thankfully, there are manageable ways to achieve your goals without feeling overwhelmed. One such way is to use a template for a SMART goal.

A SMART goal defined is 

• Specific
• Measurable
• Achievable
• Relevant 
• Time-bound.

Using a template for SMART goals is a popular way to organize and track your personal goals, but what does that actually mean?

Essentials of a Template for SMART Goals

Goal Definition in Your Template for SMART Goals

Using the definition of a SMART goal above, create a statement of your SMART goal. It’s key to define your goal such a way. You can refer back to it over and over. 

Importance of Your Goal in Your Template for SMART Goals

Your goal is important to you because it represents something that you want to achieve. It’s important to state why the goal is important to you. What will achieving this goal accomplish for you? How does it improve your life? Does it provide something to you? 

Whatever your reason, it’s important to have a clear goal in mind so that you can work towards it.

When you have a specific goal in mind, it’s easier to stay motivated. You can remind yourself of what you want to achieve and why you want to reach your goal. This can help keep you on track even when things get tough.

It’s also important to remember why your goal is important to you. When times get tough, it can be easy to give up if you don’t feel like your efforts are worth it. However, if you remember why achieving your goal is important, then it will be easier to keep going.

Planning in Your Template for SMART Goals

Finally, develop a plan to achieve your goal. Even breaking down your goals into smaller goals with milestones is extremely helpful.

Hitting each milestone will encourage you and motivate you to continue pursuing your goal.

Not only should a template for SMART goals include a section to define the goal, but it should also include areas to plan out how you’ll achieve the goal.

An Example for SMART Goals

SMART Goals for Long-Term Goals

A long-term goal can be something like, “I will invest $50 each month in an index fund for the next year and increase the amount by $50 each year over the next 5 years. This will increase my retirement fund.”

This goal is specific. You know exactly how much money you’ll invest each month and the purpose of that money. 

The SMART goal is measurable because you can track the amount you invest each month against the amount you decided on. A progress bar or a chart showing checkmarks for each month’s success is a nice visual representation of measuring your success. 

Achievability will be specific to your own case. Investing $50 each month within a certain time period and increasing it over time may be within reach. Consider your expenses, create a budget, and stick to the budget. 

Relevance is applying your goal to your own situation or life. Investing money will help you increase your retirement fund.

This SMART goal is time-bound because you are investing over a specific time period.

SMART Goals for Short-Term Goals

A short-term SMART goal example is, “I will save $1,000 by the end of the year to launch my new side hustle.” 

If it’s more realistic for you to accomplish this in more than a couple of months, that is perfectly fine and can also be a long-term goal.

This goal is specific. You know exactly how much money you need to save and the purpose of that money. 

The SMART goal is measurable because you can track your progress towards the goal of saving $1,000. A progress bar is a nice visual representation of measuring your success. 

Achievability will be specific to your own case. Saving $1,000 within a certain time period may be within reach if you consider your expenses, create a budget, and stick to the budget. 

Relevance is in regard to your own situation or life. Saving money will help you allocate that money for the specific purpose of launching the new side hustle. 

Your SMART goal is time-bound with a deadline. 

Conclusion

In conclusion, setting SMART goals is an effective way to achieve success. It’s important to remember to keep your goals specific, measurable, achievable, relevant, and time-bound. 

By following these simple steps, you can create a goal that is right for you and will help you achieve your desired outcome.