How do you write a getting out of debt goal that is attainable?
Your goal should be written in a manner that is:
S - specific, significant, stretching
M - measurable, meaningful, motivational
A - agreed upon, attainable, achievable, acceptable, action-oriented
R - realistic, relevant, reasonable, rewarding, results-oriented
T - time-based, timely, tangible, trackable
The SMART acronym is used to describe what experts consider to be "good" goal statements because at a future date you can look at your goal and determine if it has been achieved or not.
An example of a SMART goal- It is October 3, 2011, and I have just paid off 4 credit cards totaling $10,000.
This is a SMART goal because you can look at your goal after October 3, 2011 and determine if you achieved it or not. If you did, then congratulations you are right on track. If you did not, then it identifies areas of weakness and what you can do next time to reach your goal. Either way it is better to write a definite goal then aimlessly walk around life without a plan or goal.
It is your turn. Try writing a getting out of debt goal today using the SMART technique. Part 2 of this process will be how to review your getting out of debt goal on a daily basis.