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Short Term SMART goal
S: Visit family in Germany
M: I have 3 years to accomplish this as they might be moving back to the states after 3 years. I will work and save up the cost of a ticket and extra spending movie
A: I will save $100 a month until I reach my savings goal to visit Germany. Also, I will need a new passport as I am 16
R: I could have them send me a picture of Germany and spend my money on saving up for another goal.
T: I will have enough money to visit family in Germany in 2 years at the most. -
Step 1
Saving up enough money to stay with my family in Germany. And then traveling around Europe with them. -
Step 2
I have 3 years to accomplish this as they might be moving back to the states after 3 years. I will work and save up the cost of a ticket and extra spending. I will take pictures of every place I go on my phone. -
Step 3
I will save $100 a month until I reach my savings goal to visit Germany. A new passport will cost around $150 which won't take long to save up. The average cost of a plane ticket to Germany will cost around $1,500 and I will also need to bring at least $100 to spend while traveling for food etc.Overall I will need to save about $3,000 to make sure I will have everything I need while visiting -
Step 4
R: I could have them send me a picture of Germany and spend my money on saving up for another goal. Another option instead of going to Germany to visit for a week I could stay for a whole summer, though that will cost a lot more money. -
Step 5
I will have enough money to visit family in Germany in 2 years at the most. -
Long Term SMART GOAL
S: New Car
M: Save up about $20,000 for a new car by the end of college
A: Saving 50% of my paycheck throughout the rest of high school, then 20% during college towards this goal.
R: I am not allowed to spend money on brand new clothes that I don't need, No more paying for Whiteys Ice cream, and a lot less eating out. Buying a 1 owner used car instead of a brand new car
T: I will have enough money to by a new used car by the end of college in about 5 years. -
Step 1
My goal is to save up money for a new car. This would be a one-owner used car. -
Step 2
To buy a new car I will want to save up about $20,000 in the next 5 years. With this step I would have to save up $4,000 a year until iI reach my goal. -
Step 3
To save up $4,000 every year until I reach my goal I will have to save at least 50% of my paycheck before college. Then, when I get to college I will save 20% and cut down on a lot of spending to reach my goal after college. -
Step 5
To reach this goal I plan to take 5 years to save up. After 5 years I would reach my goal and buy a car -
Step 4
To reach my goal for getting a new car, I am not allowed to spend money on brand new clothes that I don't need, No more paying for Whiteys Ice cream, and a lot less eating out. And another option would be buying a brand new car with no previous owners though to save more money I am buying a 1 owner used car instead of a brand new car.