What’s the SMART framework?
SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. It sounds fancy, but it’s basically just a solid checklist to make sure your goals actually work for you.
Here’s how each bit breaks down:
- Specific. Go beyond “save money.” Say exactly what for and how much.
→ eg “Save £5000 for a new car.” - Measurable. Track your progress so you can see how close you’re getting.
→ “I’ll save £417 per month.” - Achievable. Be real. Can you afford this goal on your current income – with your current expenses?
- Relevant. Make sure the goal actually matters to you. A goal you care about = more motivation to stick with it.
- Time-bound. Give it a deadline. “Eventually” isn’t a vibe.
→ “I’ll save £5000 in 12 months.”
SMART goal examples
Paying off debt?
Try this:
“Pay off £5000 of credit card debt in 18 months by putting £278 aside each month.”
Specific: Pay off £5000
Measurable: £278 per month
Achievable: Fits your budget
Relevant: Boosts your financial health
Time-bound: 18 months
Saving for a house?
How about:
“Save £20,000 for a house deposit in 3 years by saving £555 per month.”
Same deal. It’s SMART from top to bottom. No fluff, just a clear plan.
How to create your own SMART goals
Let’s keep it simple:
Step 1: Pick your priority. Is it debt? Saving? A big purchase?
Step 2: Write a goal that’s super clear (no “maybes” or “somedays”).
Step 3: Add the numbers. How much money? How often?
Step 4: Sanity check. Can you actually hit this goal based on your current financial situation?
Step 5: Add a timeline so you stay focused and can track progress.
Want more breathing room while working towards your goals? Zilch’s Pay over 3 months or Pay over 6 weeks options let you spread bigger costs – so you can stay on track without throwing your whole budget off.
Staying on track without burning out
Starting strong is great. Finishing strong is better. Here’s how to keep the momentum going:
- Check in with yourself regularly. Set a reminder every month to review your progress.
- Track your wins. A spreadsheet or budgeting app can help you see the big picture.
- Keep your energy up. Celebrate small wins, rope in an accountability buddy or remind yourself why you started.
The bottom line
Whether you’re saving, paying off debt or just getting your finances in order, this framework brings clarity, structure and motivation.
And with Zilch in your back pocket, you’ve got tools to help you handle big costs smarter – so you can stay focused on what really matters.