![]() Think about things you’d like to accomplish in your academic, athletic, social, or FBLA life. Finally, the first goal can be time measured – the deadline is in three months – while the second goal has no definitive endpoint. Unless you’re Bill Gates, it’s probably impossible to save enough for a six mansions in a few months, making the second goal unrealistic. You can definitely attain $5,000, it’s an exact and tangible sum, but how can you attain “a lot of money”? It’s an abstract amount. Similarly, the level of specificity plays into the attainability of the goal. ![]() With the second statement, the lack of specificity, wanting “a lot of money,” makes it impossible to measure. The first goal is specific, it has an exact figure of desired savings, thus can be measured. Let’s look at two different goals: “I want to save $5,000 over the next three months,” and “I want to save a lot of money over the few months so that I can buy six mansions.” The first goal is a SMART goal, while the second one is not. SMART goals are: Specific, Measurable, Attainable, Realistic, and Time-based. How do you measure being greater than a previous players, and what statistics or accomplishments should be factored into this consideration? When setting goals for your finances, you should use SMART goals. Lebron’s goal, however, isn’t exactly a smart one. ![]() Lebron once told reporters, “I have a personal goal to be the greatest.” Lebron James, for example, wouldn’t be one of the greatest basketball players of all time if he didn’t set personal goals for himself. By setting goals, you hold yourself accountable in the present, and work to develop towards something in the future. ![]() The key to managing anything, from your academics to your finances, is goal setting. Introduction: Everyone loves to have money, but how do we make it, and how do we ensure that we manage it efficiently? This section will introduce you to the importance of goal setting and budgeting, along with discussing forms of income and taxation. ![]()
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