Ever wonder why is money so important to you? Should have knows it by now if you are still not alert about its importance. It is simple, money meant a whole lot in our life, we human need money to live, to buy, to spend and more......
Well take another view, having a bunch of money does not mean one is rich. Only saving can help us become a rich person in a way. But how do you save when you have to spend? This is the challenging task and this has been my goal. This will be depicted in my personal development plan- a 'SMART' goal plan as describe below.
-My SMART Goal-
Well take another view, having a bunch of money does not mean one is rich. Only saving can help us become a rich person in a way. But how do you save when you have to spend? This is the challenging task and this has been my goal. This will be depicted in my personal development plan- a 'SMART' goal plan as describe below.
-My SMART Goal-
Specific – I planned to start saving money and to save an amount of $900 by week 13 of this semester. This is to allow me to have extra money to use when it is necessary or in case of any emergencies. A small amount of money is kind of important to me now since I am living alone in place miles away from my parents. I need money at any time, it is so impossible I keep asking for money from them. I need to learn to be independent.
Measurable – There are ways to measure how far I go until I reach my goal. One way is to open a saving account at bank and check on the amount saved constantly. Well opening a saving bank account does has its benefit that is I can gain a certain amount of interest out of my saving.
Ambitious – This is an ambitious goal from my personal perspective. Back then I used to be a great spender but it is another way round now. A tiny little amount of money means a whole lot to me! I have to learn to depend on my own scholarship money only for things I needed. My parents always remind me not to be a big spender but be a great saver.
Reachable – Yes, I do believe my goal is reachable. It is reachable with the correct ways of handling my money via my planned monthly budget. I am confident I can do it to save up a minimum of $900 by week 13. I do not have to stress myself too much on this because I have planed ahead for what should do or not to do with my money.
Time reference – Every week I can save up roughly S$70, there are four weeks in a month so 70x4=280. For a month I can save S$280. Therefore I am able to collect the amount set at the end of week 13.
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