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Individuals should use the SMART criteria—Specific, Measurable, Achievable, Relevant, & Time-bound—when setting financial goals. For example, rather than merely saying that you want tram slots 1-3 vs 2-4o "save money," you could say that you want to save $10,000 for a down payment on a house within three years. In addition to making the objective more attainable, this clarity makes it possible to monitor advancement over time. A sense of accomplishment can also be gained as each step is accomplished by segmenting more ambitious objectives into smaller benchmarks.

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