SMART goal
A goal that is specific, measurable, achievable, relevant and time bound, so you can turn it into a monthly plan.
SMART stands for specific, measurable, achievable, relevant and time bound. The CFPB uses it to help people turn vague wishes into goals they can plan around.
For money goals, that usually means a dollar amount, a reason you care about and a date. Those three pieces give you a monthly number to save or pay.
Example
"Save more" is a wish. "Save $3,600 for a car down payment in 18 months" is a SMART goal: $3,600 ÷ 18 = $200 a month.