Are Your Goals Specific Enough?
“I want to save money” isn’t a goal, it’s a wish.
And wishes don’t build wealth.
If you’ve ever heard someone say, “I’m going to start working out,” “I’ll finish that yard project another time,” or “We should hang out sometime!” What are the odds they actually followed through?
People love to say what they want to do, but talk is just talk. Without intention and a plan, odds are it’s not happening. The same applies to your financial goals.
Specific vs. Vague Goals
There’s a massive difference between “I want to start saving money” and “I’m going to save $500 a month until December 2028 for a house down payment.”
Or between “I want to pay down my debt” and “I’m going to be debt-free by 27. To get there, I’ll put $150 a week toward my highest-interest balance.”
When you put specific goals out there, you’re more motivated to reach them, because you can actually see the payoff. You know the target, the timeline, and the exact actions to take to get there.
What the Research Says
Behavioral finance research backs this up: people who set specific financial goals are significantly more likely to achieve them.
A 2024 Frontiers in Behavioral Economics study found that people with concrete savings goals had higher average savings balances than those with vague intentions.
Another study from USC Marshall showed that naming an exact amount and deadline boosts follow-through, as long as the goal feels realistic.
Psychologists call this the goal specificity effect, when a goal is measurable and time-bound, it triggers clarity, commitment, and accountability.
In short: being specific works.
How to Set a Good Financial Goal (The SMART Framework)
Specific: Define exactly how much you need. What’s the end target?
Measurable: How will you track progress? Monthly deposits? Weekly transfers?
Achievable: Is it realistic given your income and expenses?
Relevant: Does it align with your priorities? If you’re saving for a car while carrying 20% credit card debt, maybe it’s time to reprioritize.
Time-Bound: Pick a finish line. Deadlines create focus.
Build an Action Plan
Break your goal down into small, repeatable steps.
Personally, I track my savings weekly:
$100 toward my home fund
$80 toward a car fund
$30 toward a trip fund
That’s $210 a week, automated straight from my checking account. I barely even think about it — it just happens. Separate account, out of sight, out of mind.
That’s the point: when you automate and simplify, consistency does the heavy lifting.
Common Pitfalls
The biggest mistake? Going too big, too fast.
People think they’ll save half their income for three straight years or cut spending to the bone. Be real, you won’t stick with that.
Start small. Trim $100–$200 a month, put it toward your goal, and check in after a few months. If it’s working, increase it. Adjust your timeline if needed.
The best plan isn’t the most aggressive one, it’s the one you’ll actually follow.
Why This Matters
When I played college football, our defensive goal every week was simple: create three turnovers.
It was ambitious, most weeks we didn’t hit it. But when we did force three turnovers and our offense protected the ball, our odds of winning shot up to around 90%. That wasn’t luck, it was the result of having clear, measurable goals and a plan to reach them.
Your finances work the same way.
If your goal is just “save more” or “spend less,” you’re basically running around without a game plan. But when you define the exact plays, how much, how often, and by when, your odds of “winning” financially go way up.
It’s not about being perfect every week. You’ll miss some goals, just like we missed our turnover mark. But if you stay disciplined, track your progress, and adjust when needed, you’ll come out ahead far more often than not.
Start Small
Pick one goal. Something simple.
Maybe it’s a vacation fund: “I want to save $1,500 for a trip next summer.”
Break it down, that’s roughly $30 a week. Automate it, let it run.
By the time summer rolls around, your trip’s already paid for. No guilt, no stress, no debt. That’s what specific goals can do.
Final Thought
There’s an old saying: What gets measured, gets managed.
When your financial goals are specific, measurable, and actionable, you can track progress and actually see your momentum build.
Vague goals get forgotten.
Specific goals get funded.
So stop wishing, start planning.
