Goal: To work out every day for 20 minutes per day and achieve a
Body Mass Index (BMI) of 20. I will use the X System to attain that goal.
Explanation: The specific part of the goal is to achieve the Body
Mass Index of 20. It is measurable as I can take a BMI reading throughout the
period to compare. It may be attainable, assuming I believe in the X System or
have used it before. It is realistic in that if I go to the gym and the assumptions
are true, I will reach the goals. For time-based, I have given it three months
and 20 minutes per day.
Save for College
Goal: To save $50 per month in a 521 account and continue to do
this until my child is ready for college as the cost of college keeps rising.
Explanation: Based on historical
trends, college costs rise every year. Therefore, it is reasonable to
assume that they will continue to rise. The specific goal is to use a 521
account, which in the United States, allows for tax breaks when saving for
college. My bank statements will allow me to measure whether I am saving enough
each month and make the necessary adjustments. These goals are attainable as
long as I can continue working. If I made
some projections based on the number of years before needing the money, this
plan is likely to be realistic. However, the best course of action would be to
compare alternate plans to see which would give the best return. The frequency
(time-based) is monthly over some years.
As you can see from these two applications,
there may be conditions that you need to consider when making these SMART
goals. You have to make assumptions that may not always turn out to be correct.
Therefore, you should always try to factor in alternatives whenever possible.
It’s not a perfect system but it is a useful guideline to help you come up with
a solid plan.
The ideal situation is to be able
to address each of the five components of SMART. Don’t worry if you find some
overlap. As long as you can work from your plan, it won’t make much of a