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| General Discussion Please read our Forum Rules before posting Feel free to talk about anything and everything about money. |
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I have been very successful in achieving almost all my goals! My success was due to using SMART goals. The acronym stands for Smart, Measurable, Attainable, Reasonable and Time frame. I used this strategy to become financially independent a long time ago at 38 years old. Have you used this strategy and were you successful? Please share your experience.
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www.Krantcents.com "Making sense of money" |
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Never heard of SMART goals, but I'll read up on it myself. I personally have had a really hard time trying to get realistic goals in mind and make it happen. Personally, every major goal I've had in the last 10 years or so to improve my life has failed and caused me to step backwards in life. Other than pay, I feel farther behind in life than I did 10 years ago. Perhaps it can work for me too.
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I'd not hear of the acronym but I've always had goals, imposed timelines and measured results. Weren't we all told if we didn't have a road map we'd never get to our destination? Will today's youngsters rely on GPS? I hope not since GPS has errors and has too much lag time for updates.
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Don't give up! You can change the outcome, but you may have to take the time to figure out what is stopping your success.
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www.Krantcents.com "Making sense of money" |
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In the world of tortoises and hares, I am a tortoise.
I do have goals, but I achieve those goals at a steady pace and put happiness before business.
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Scotland Accommodation |
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We use the whole "SMART" goals thing at college here. I think it is commonplace here in Canada. And the first word is "specific" NOT "smart". Specific is important. We say "timely" for the last word.
Example of a SMART goal: I will achieve an A on my biology term paper this October. (Then of course you have to do the real work of putting a plan in motion to achieve this goal). |
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You are right, the SMART goals gave the structure to allow me to achieve my goals.
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www.Krantcents.com "Making sense of money" |
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www.Krantcents.com "Making sense of money" |
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SMART objectives may not make you retire at 38, but it’s an objective to set your goals against and try to use it to achieve what you want to by separating your goal into the SMART heading for instance time will be by a certain date and how realistic will the goal be ect. It is a mentality to flow.
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We have debt consolidation loans to help you get out debt problems |
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That's why I like using Mint goals. I know it isn't exactly perfected. But it asks you all those questions and tells you what you're doing wrong, how to speed up your goal achievement,and when it'll be completed!
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I have enough money to last me a lifetime, unless I buy something. "Before borrowing money from a friend, decide which you need most." |
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There are various ways to achieve goals, but the most important aspect is simply to have a goal or a plan to get what you want. You've probably heard of the "marshmallow test" (I'm not sure what it was called) where children were offered the choice of receiving 1 or 2 marshmallows. The caveat was that the child had to delay gratification to get 2 marshmallows.
Receive 1 gratification now or wait and receive twice the amount later on. The results are what you'd predict. The test was administered in the 1960s, so the children are now adults. The ones who delayed gratification had ultimately more success in life, both personally and professionally. It's like that with money, especially for those who earn slightly higher wages. They have the means to obtain larger amounts of debt, so they can enjoy a lot more "toys" right away. But then they lose a lot of wealth by missing out on compounded interest by saving more and saving earlier. Those who don't indulge right away are much more often rewarded by having both wealth and, at the same time, their "toys," albeit at a later time. |
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I tend to use Stephen Covey's model for the Seven Habits of Highly Effective People and I've actually had great success with it. I feel I'm doing well in all areas of my life and I'm successful for my age, education and effort. I'm always trying to raise the bar though. Finding a system that works for you is great news to hear. Keep up the good work!
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