Finances: Set financial goals

Key Results

• Create and document 5 SMART financial goals using Smartsheet
  Start value: 0, Target value: 5, Notification frequency: End of Month
• Use Qapital or Simple app to track progress for 4 financial goals
  Start value: 0, Target value: 4, Notification frequency: End of Month
• Allocate 10% of monthly income to savings goals using Ally or Marcus
  Start value: 0, Target value: 10%, Notification frequency: End of Month
• Use a financial goals worksheet from CFPB for monthly tracking
  Start value: 0, Target value: 12, Notification frequency: Monthly
• Implement the 50/30/20 rule for 6 months using YNAB or NerdWallet
  Start value: 0, Target value: 6, Notification frequency: Monthly
• Set up automatic transfers for 3 savings goals using online banking
  Start value: 0, Target value: 3, Notification frequency: Quarterly
• Break down 4 financial goals into short, mid, and long-term using Dave Ramsey’s guide
  Start value: 0, Target value: 4, Notification frequency: Every 2 months
• Track goal progress with a financial dashboard using Personal Capital or Mint
  Start value: 0, Target value: 4, Notification frequency: End of Month

Initiatives

• Create a SMART financial goals plan
  Develop a plan for financial goals that are Specific, Measurable, Achievable, Relevant, and Time-bound (SMART) using templates from Smartsheet.
• Use financial goal-setting apps
  Set and track financial goals using apps like Qapital or Simple, which offer goal-setting and savings features.
• Use a financial goals worksheet
  Utilize worksheets and templates to outline and prioritize your financial goals, available from Consumer Financial Protection Bureau (CFPB).
• Implement the 50/30/20 budgeting rule
  Allocate 50% of your income to needs, 30% to wants, and 20% to savings and financial goals using budgeting tools from NerdWallet or YNAB.
• Automate savings for financial goals
  Set up automatic transfers to savings accounts earmarked for specific financial goals using online banking features from Ally or Chase.
• Break down goals into short-term, mid-term, and long-term
  Categorize your financial goals into short-term, mid-term, and long-term objectives using goal-setting guides from Dave Ramsey.
• Track progress with a financial dashboard
  Use financial dashboards from apps like Personal Capital or Mint to monitor progress towards your financial goals.
• Use goal-setting journals
  Keep a journal dedicated to setting and reflecting on your financial goals with prompts and templates from The Balance.