How to Create Financial Goals That Actually Work

Tired of setting financial goals that fizzle out? Learn how to use the SMART framework to turn your aspirations into clear, achievable goals that actually move you forward. Have you ever met someone who is really good at starting things but not so great at finishing them? You know the type - they’ve always got a new plan, a big dream, a bold idea. They're going to start a business, lose 25 pounds, travel the world, write a book, remodel the

bathroom… and yet, year after year, it seems that nothing in their life ever really changes.

We all know someone like that. And if we’re being honest, sometimes that someone… is us!

This is especially true when it comes to our finances. We want to save more, budget better, pay off debt, invest for the future, but more often than not, those aspirations never leave the launchpad.

So what’s the issue?

It’s not that we lack motivation. It’s that we lack follow-through. And more specifically, we lack clear, actionable goals.

Here’s the deal: vague dreams don’t lead to real results. As the old saying goes, “A dream

without a plan is just a wish.” And when it comes to your money, a wish isn’t going to cut it.

So how do you actually set financial goals that you’ll follow through on? Let me give you a

framework that I’ve found incredibly helpful.

It’s called the SMART Goals framework and was originally developed by George Doran but has had different variations over time.

SMART stands for:

● Specific

● Measurable

● Actionable

● Realistic

● Time-based

If something is important to you, you don't just sit around hoping it might happen. You make a concrete plan. If you are want to travel you make an itinerary: I’m flying to Dallas on Delta Airlines next Thursday at 10:15 a.m. If you want to see a doctor you make an appointment: I'm seeing Dr Johnson at his office on Monday at 1:00 p.m.

That’s a SMART itinerary. And your financial goals need to be just as detailed.

Let me show you what I mean.

Let’s say your financial aspiration is: “I want to travel more.” Okay, great! But when? Where? How? That’s like saying “I want to be healthier” while watching Netflix and eating a donut on the couch. It’s not gonna happen without a plan.

A SMART version of that goal might be: “I will automatically transfer $500 a month into savings to pay for a cruise to Mexico in June 2026.” Boom! That goal is specific, measurable, actionable, realistic, and time-based.

Or maybe your goal is, “I want to get better at budgeting.” Great! Here’s how to make that

SMART: “I’ll create a free account on a budgeting website, track all my expenses for the next 90 days, and review them every Sunday evening with my spouse to make sure we stay within our budget categories.” That’s something you can do right now. It’s trackable. It’s doable. And it has a clear time frame.

One more example: maybe you’re dreaming about buying a home. Instead of just saying “I’d like to buy a house someday,” try this: “We’ll save our $1,000 monthly side hustle income into a separate account for the next 24 months to reach a $24,000 down payment.”

See the difference? That’s a goal with teeth. Now, here’s a little bonus tip: limit yourself to no more than three SMART goals at a time. I know, I know, you’ve got 10 things you’d love to accomplish. But trying to do them all at once is a recipe for burnout and disappointment.

You probably can't train for a marathon, learn Mandarin, and retile your kitchen all at the same time. Your time, energy, and money are limited. So focus on what matters most right now. Maybe that’s getting out of credit card debt before ramping up retirement savings. Maybe it’s building an emergency fund before launching that new side hustle. Prioritize wisely.

So here’s my challenge to you: Take five minutes today (yes, today!) and write down one

SMART financial goal. Just one. If you want bonus points, send it to a friend or talk about it with your spouse. Get that accountability going.

Because your dreams deserve better than “someday.” With the right plan, you can make them real.

Let’s stop wishing and start doing!