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Long Term SMART Goal
S- Buy my own a Ford Escape that is relatively new.
M- Save between $15,000-$20,000
A- I hope to be something like a crime analyst/crime scene investigation which has a salary of $55,000 in Iowa. 15% of this is $8,250 so if I save around $650 a month, when working, I can hopefully reach my goal.
R- The trade off is that I have to spend more money and the next best thing (opportunity cost) is to buy an older car.
T- I'd say I could possibly achieve this goal somewhere around 2027 -
Step #1
Throughout college, save as much as I can so that I will have the ball rolling for my next step -
Step #2
Graduate from college and get a good paying job in the criminal analyst/investigator field. -
Step #3
The next step is to work for at least a year as a crime analyst/investigator because I will most likely have to save money from my full time job for at least a year after I graduate in order to achieve my goal realistically. -
Step #4
Most people set their car budget at 15% of they salary which would be $8,250 in my case. In one year, this would not be enough for me to buy the car I want. I'd also have some savings from college so I'm guessing it will take me around two years after college to reach my goal. Once I reach my goal, I would start looking at cars and figuring out what year I want based on what I want from the car and its condition. -
Step #5
Achieve my goal by buying the car.
