FINANCIAL LITERACY AND SMART METHOD

Set clear goals (SMART method)

The goals should be:

• Specific (e.g. saving for a vacation),
• Measurable (e.g. €600),
• Affordable (based on your income),
• Realistic (according to your capabilities),
• Temporal (time-specific – e.g. within 6 months).

Example of a SMART goal:

“In 6 months I will save €600 for a vacation.”

Establish a routine – 15 minutes a week for finances

• Check your balance (accounts, cards, cash).
• Adjust the budget (if anything changes).
• See if you're closer to your goal.
• See where you can reduce costs or increase savings.
• Involve your family in the conversation about money.
• Children should understand basic concepts (savings, want vs. need).
• The partner should be involved in planning the goals.
• Shared goals strengthen accountability and cooperation.
• Use goal visualization – for example, print out a picture of your goal and check it off when you reach a milestone.
• When you reach your goal, treat yourself to a symbolic reward (e.g. ice cream, a day off from work).
• Regularly remind yourself of your "why" - why this goal means something more to you.