SMART short term goal timeline Kati Wade

By KatiFinance
  • I want to buy a used, yet more reliable vehicle.

    I want to buy a used, yet more reliable vehicle.

    The vehicle that I have now is not reliable and is older, in 5 years I want to own a vehicle that I can count on which will be more financially safe for someone who will have just graduated high school.
  • To start making more money that I can save, I will get a job as soon as I turn 16

    To start making more money that I can save, I will get a job as soon as I turn 16

    Once I turn 16 this year, it will be easier for me to get a job. I plan on getting a job will a consistent income that I will take a percentage of every payday for savings.
  • To help me control my impulses, and save money more efficiently, I will only spend so much money on wants every month

    To help me control my impulses, and save money more efficiently, I will only spend so much money on wants every month

    I have a problem with impulse buying, especially with online shopping. To combat this problem, I will allow myself a certain percentage of my paycheck every payday that I will save up and allow myself to spend at the end of the month. So I still get that satisfaction of carefree spending without actually carefree spending.
  • Sell my old, unreliable vehicle and save the profits to buy a newer one.

    Sell my old, unreliable vehicle and save the profits to buy a newer one.

    When I graduate high school, my need for a reliable vehicle will be even greater, so I plan on selling my current Ford Ranger truck and using the profits plus my savings to buy a better vehicle or adding it to my savings if I have less than what I plan on having.
  • Taking out a small loan if necessary

    Taking out a small loan if necessary

    In my 2nd year of college, I will more certainly need a reliable vehicle, so if things haven't gone to plan over the past 5 years, I will take a small loan from my bank to purchase a vehicle. Even if I have to take out a loan, I am confident that I will have enough savings so that the loan is very small.