S is for Specific - Money Clouds & SMART Goals Pt. 2
When setting a goal, it only makes sense that you would make that goal as specific as possible. After all, what good is a goal if you don’t know exactly what it is you are aiming for?
Today I’d like to talk specifically (see what I did there?) about setting specific financial goals, and how you can use Money Clouds to help you reach any financial goal you set.
Goal-based saving holds that every dollar you save has a purpose. Rather than saving $100 into your general savings account, you put that $100 towards something specific. Now when I say specific, I mean it. Lately, I’ve been getting down to the nitty-gritty in my financial goal setting – and surprisingly it’s motivated me to save more.
Rather than saying I want to save $4,000 for my trip to Thailand, I write out in detail what I envision my trip will be like. My goal has transformed into something more like this:
A trip to Bangkok, Chaing Mai, & Koh Samui in November of 2016. Beaches, Southeast Asian cultural hotspots, elephants sanctuaries, & the Yi Peng lantern festival! Don’t forget the endless Thai food!
Being a very visually motivated person, I then add a photo that visually represents my trip, adding to the excitement I feel each time I look at my Cloud.
Each time I deposit money into my Thailand Cloud, I read my dream trip description, see the photo of the historical monuments I am so excited to explore, and the anticipation for my trip builds just a bit more. This ever-budding anticipation only gets me more excited about the money I am saving, thus fulfilling the mission of Money Clouds.