Are You Saving SMART?

By: James Spainhour

Forbes released an article offering tips to help achieve your financial resolutions. We were taken by their first point, “Set SMART goals.” SMART standing for: specific, measurable, attainable, realistic, and time-sensitive.

Keep your goals specific. Instead of trying to generally “save more money,” put a specific number on it. Identify how you will use the money you save. It could be an emergency fund, a monthly goal for retirement savings, or savings for a vacation. 

Measurable means being able to account for the savings. Have it in a separate account, or somewhere where it’s easier to be able to see the money you’ve put away.

Your goals have to be attainable and realistic. Don’t plan on putting away thousands a month if that’s not possible for you. Your end goal has to take into account what’s possible for you on a monthly basis.

Making sure your goals are time-sensitive is key. They remain within your established timeline, your savings are on time, and they’ll be achievable by the time you’ve set. 

A financial professional can assist you with most financial goals - including a strategy for savings, and guide you to achieving success with them. At Wisepath, we create a customized plan for you, to reach your goals and make financial freedom possible. Reach out today to make tomorrow better!

Give us a call: (844) 947-3728

Send an email: info@wisepathgroup.com

Or complete the contact form below!