100+ SMART Financial Goals

This page features a curated list of health goals. I created it as a source of inspiration for my 100 life goals project and wanted to share it with others in hopes of inspiring them to create their own goal list.

There is an overabundance of bucket list ideas circulating online that lack the necessary specificity, measurability, and time-bound nature to make them actionable goals. Therefore, I curated a list of SMART goals that are more specific, measurable, achievable, relevant, and time-bound.

Whether you're young or old, there's something on this list for everyone. So, read on to discover some of the best health goals that can help you transform your life and achieve your health dreams.

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An important note before scrolling down:

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* One more thing, if you decide to take part in any of the goals listed below, you do so entirely at your own risk. Some of the goal ideas listed here can be risky, so seek out guidance if you decide to try them out, especially the challenging ones.

With this in mind, let's rock and roll!!

 

100+ SMART Financial Goals

SMART Saving Goals

Setting a SMART saving goal, like saving for an emergency fund, helps you to become more disciplined in your spending habits and makes you more mindful of your expenses. It also helps you to prioritize your spending and focus on what really matters to you.

Here are a few specific examples of SMART goals you can set in this particular area:

• Save $20,000 for a university degree within the next 5 years
• Save $10,000 for an emergency fund within 12 months
• Build an emergency fund of 3 months' living expenses within 6 months
• Increase emergency fund to $10,000 within the next 12 months
• Increase emergency fund to cover 6 months of expenses within the next 3 years
• Save $10,000 for an emergency fund within the next 2 years
• Increase emergency fund to 6 months of living expenses within the next 3 years
• Increase monthly savings rate to 20% of income within 6 months
• Save 50% of income for the next 3 months to build a buffer
• Set up an automatic savings plan and save $500 per month for the next year
• Open a high-yield savings account and save $1,000 per month within the next year
• Save $2,000 for a new computer within the next year
• Save $5,000 for a family vacation within the next 2 years
• Save $7,500 for a wedding within the next 2 years
• Save $10,000 for a new car within the next 3 years
• Save $25,000 for a home renovation project within the next 3 years
• Save $50,000 for a down payment on a house within 3 years
• Set up a health savings account, HSA, and contribute $3,000 annually for medical expenses

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SMART Income Increase Goals

Setting SMART income-increasing goals can have a significant impact on personal growth and development. For example, negotiating for a better salary or position requires you to identify your strengths, communicate your value, and advocate for yourself. Additionally, achieving income-increasing goals can give you a sense of accomplishment and a greater sense of control over your life.

Here are a few specific examples of SMART goals you can set in this particular area:

• Negotiate a raise of 10% in the next month
• Start a side business and earn an extra $1,000 per month within six months
• Create a passive income stream that generates $500 per month within the next year
• Increase income by taking on a part-time gig, earning an extra $500 per month within the next 6 months
• Negotiate a promotion at work within the next 6 months
• Increase income by negotiating freelance rates, earning an extra $1,000 per month within the next 6 months
• Increase income by taking on freelance work, earning an extra $500 per month within the next 6 months
• Increase income by 50% within 12 months through a promotion or side hustle
• Start a full-time business and generate $10,000 in revenue within the next year
• Create a passive income stream that covers all expenses within the next 2 years

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SMART Expense Reduction Goals

By taking a closer look at your spending habits and finding ways to cut back on unnecessary expenses, you can develop important skills like budgeting, planning, and prioritization. Not only can this help you save money and achieve financial stability, but it can also challenge you to find creative solutions. This can help you develop a sense of resourcefulness, creativity, and self-discipline, all of which can translate into other areas of your life.

Here are a few specific examples of SMART goals you can set in this particular area:

• Reduce monthly expenses by 10% within 3 months
• Reduce unnecessary subscription services to save $500 per year
• Reduce monthly grocery expenses by 20% within the next 6 months
• Reduce energy expenses by 15% within the next year
• Reduce monthly utility expenses by 15% within the next 6 months
• Reduce transportation expenses by 10% within the next year
• Reduce food expenses by 10% within the next 6 months
• Reduce entertainment expenses by 20% within the next 6 months
• Reduce clothing expenses by 15% within the next 6 months
• Reduce dining out expenses by 10% within the next 3 months
• Reduce utility bills by 10% within the next 6 months

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SMART Debt Reduction Goals

Having debt can feel overwhelming and limit your opportunities for the future. By setting SMART debt reduction goals, you can take control of your financial situation and make progress toward becoming debt-free. For example, if you have credit card debt, you can set a goal to pay off a certain amount each month or to negotiate a lower interest rate. By reducing your debt, you can also reduce the amount of interest you pay, freeing up more money for other important goals such as saving for emergencies or investing in your future. Not only will you experience financial benefits, but you will also gain a sense of empowerment and achievement from taking control of your debt and improving your financial situation.

Here are a few specific examples of SMART goals you can set in this particular area:

• Pay off all credit card debt by the end of the year
• Pay off car loan within 2 years
• Reduce student loan debt by $10,000 within 2 years
• Pay off all consumer debt within 5 years
• Create a debt repayment plan and pay off all debts within the next 5 years
• Negotiate a lower interest rate on credit card debt within the next 3 months
• Pay off a medical bill of $2,500 in the next 6 months
• Create a plan to become debt-free, including mortgage, within the next 10 years
• Achieve a credit score of 750 within 1 year
• Increase credit limit on a credit card by $5,000 within the next 6 months
• Increase credit score by 50 points within the next 6 months

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SMART Investing Goals

Investing is not just about making money, it can also be a powerful tool for personal growth and development. When you set investing goals and work towards them, you learn important skills such as patience, discipline, and risk management. Building a diversified investment portfolio, for instance, can help you develop a deeper understanding of the financial markets and how they work. You also learn to make informed decisions based on research and analysis, rather than relying on emotions or hearsay.

Here are a few specific examples of SMART goals you can set in this particular area:

• Invest in a mutual fund and earn a return of at least 7% within the next 2 years
• Invest $5,000 in a diversified mutual fund portfolio by the end of the year
• Invest $2,000 in individual stocks within 3 months
• Increase investment knowledge by reading 2 financial books within the next 6 months
• Build a diversified investment portfolio with $50,000 in assets within 5 years
• Invest $50,000 in a mutual fund or ETF within the next 6 months
• Invest $2,000 in a low-cost index fund within the next 6 months
• Invest in a REIT and earn a dividend income of $2,000 per year within the next 3 years
• Invest $10,000 in a diversified portfolio of stocks and bonds within the next year
• Increase investment contributions by 1% of income every year
• Increase investment contributions by 5% of income within the next 2 years
• Invest $5,000 in a small business within the next year
• Invest $100,000 in stocks within the next year
• Invest in rental property within the next 5 years
• Save $50,000 for a down payment on a rental property within the next 5 years
• Save $50,000 for a down payment on commercial property within the next 7 years
• Invest in a rental property and generate $1,000 in monthly rental income within the next 3 years
• Refinance mortgage and save $200 per month on mortgage payments

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SMART Retirement & Planning Goals

Retirement planning may not seem like the most exciting topic, but it can actually be a powerful way to foster personal growth. By setting goals and creating a plan for your financial future, you are creating a sense of security and stability for yourself. This can lead to increased confidence and self-reliance, as well as a sense of empowerment and freedom. It can also serve as a reminder to focus on the things that truly matter to you.

Here are a few specific examples of SMART goals that you can set for this area:

• Increase retirement savings rate to 15% of income within 5 years
• Create a retirement plan and project retirement income needs within the next 2 years
• Increase retirement contributions to 10% of income within the next year
• Open a Roth IRA and contribute $3,000 annually for retirement
• Increase retirement contributions by 2% of income within the next year
• Increase retirement account balance by $50,000 within the next 5 years
• Start a retirement account and save $1,000 within the next 6 months
• Max out 401k contributions of $19,500 for the year
• Open a Roth IRA and contribute $6,000 annually for retirement
• Increase 401k contribution rate by 2% every year
• Save $100,000 for retirement within the next 10 years
• Create a will and estate plan within 6 months
• Create a budget and stick to it for 6 months
• Create a plan to increase net worth by 20% in the next 2 years
• Create a plan to save for a sabbatical within the next 5 years
• Create a plan to become financially independent within the next 15 years

Overall, setting and achieving SMART financial goals can be incredibly empowering. Working towards those goals can help you build important life skills, such as budgeting, saving, and investing. By mastering these skills, you can gain greater control over your finances and ultimately achieve greater financial stability and security.

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