Set two SMART financial goals, one relating to the short-term (within 2 years) and one long-term goal (more than 5 years). For each SMART goal, set one objective specifying clearly how you will go about attaining the goal.

For example, for a short-term goal if you have dumb debt, you might propose a SMART goal to pay this off and an objective specifying how you are going to attain this goal. For the long-term SMART goal, you might consider saving for a house, retirement, or some other major purchase. Set the goal as a SMART goal and state one objective for this long-term goal.

In Appendix 5, show the calculations for each goal to prove that it is realistic (using Time Value of Money calculations). Refer to the figures presented in your Budget in Part D to prove that each SMART goal is achievable.

List your assumptions (i.e. how much interest are you earning on your savings (if relevant).

Present your answer here:

(Hint: your SMART goal must be stated in one sentence, then clearly identify each part as the corresponding part of the “SMART” criteria. Also, clearly state one objective that will help you attain each goal. Clearly label the goal as “short-term” or “long-term”.)

Answer rating: 100% (QA)

ShortTerm Financial Goals Setting shortterm financial goals can give you the confidence boost and foundational knowledge you need to achieve larger goals that will take more time These first steps are ... View the full answer