Live and Learn

How to set financial goals

What you need are S.M.A.R.T financial goals: Specific, Measurable, Achievable, Relevant
and Timebound.

 Specific: E.g. Instead of saying I want to travel. I’ll say, I plan to go to Dubai
What are your specific financial goals?

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 Measurable: How much will your goal cost? E.g. I will need to save ₦1,000,000 to pay
for my flight and accommodation for dubai.
What are your measurable financial goals?

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 Achievable: Set an achievable consistent target. E.g. I will need to set aside ₦28,000
a month to meet my goal.
What are your achievable financial goals?

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 Relevant: E.g. You plan to take a trip to celebrate a major milestone in your life
How is this goal relevant to you?

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 Time-bound: E.g. I plan to reach my goal in 3 years

How long will it take you to achieve this goal?

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