Dearest Finance Diaries baddies,

We find themselves in a world filled with diverse opportunities and challenges. This podcast/blog post aims to provide a quick overview guide on setting realistic and measurable [financial] goals.

How To Set Goals You’ll Actually Accomplish:

* Decide on Your Values and Priorities:

* Begin by reflecting on your values and priorities. Consider what matters most to you – whether it's spending time with a family, a huge investment portfolio, travel, entrepreneurship, or philanthropy. Aligning your goals with your values ensures meaningful pursuit.

* Categorise Your Goals:

* Categorise your financial goals into short-term, medium-term, and long-term. Short-term goals might include building an emergency fund or paying off high-interest debt, while long-term goals could involve saving for a home or retirement.

* Make Goals SMART:

* Apply the SMART criteria to your goals – Specific, Measurable, Achievable, Relevant, and Time-bound. For instance, instead of a vague goal like "saving money," specify "saving $5,000 for an emergency fund within 12 months."

* Consider Your Financial Situation:

* Be realistic about your current financial situation. Assess your income, expenses, and existing commitments. Setting goals within your means ensures a higher likelihood of success.

* Prioritise Goals:

* Prioritise your goals based on urgency and importance. Addressing high-priority goals first establishes a strong foundation for your financial journey.

You’ve got this, I believe in you!

Product of the week: This incredible renter-friendly wall sconce set (USB chargeable). My rental lacked a light in the laundry room and this was the perfect addition. I got it last week and it saved me from a veryyyy expensive electrician job.

Love,Stephanie

PS: Tell me in the comments what your first short term SMART goal is!

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancediaries.substack.com