Financial goals - how do you set and achieve them

There is a well-known methodology for setting financial goals - SMART (specific, measurable, achievable, relevant, time bound).

Financial goals should be specific and measurable. For example, to set aside a specific amount of 50 thousand rubles every month, not "some" money. The second option is too abstract.

The goal should imply a specific action. For example, reducing monthly expenses to 50% of salary is an action. And the phrase "I want to get rich" is a lack of specificity.

The goal should be realistic and achievable within a set time frame. Goals can be divided into short-term (up to a year), medium-term (up to 5 years) and long-term (from 5 years and beyond).