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Explainer | SMART tips to set your financial goals

Clearly defining financial goal makes it easy to draw a financial plan

April 26, 2019 / 02:19 PM IST

The primary question that almost every investor has in mind is what instrument will get me the maximum rate of returns? But, is it the right question to ask?

The basic tenets of personal finance advise individuals to start with introspection. One should start with one’s financial goals than looking for high paying investments.

The financial goals clearly define what you intend to achieve and you can accordingly plan your journey—where to invest, how much to invest and set your expectations right.

Clearly defined financial goals or smart financial goals help you make a sound financial plan and ensure better execution of the same to achieve your goals. Here is how you can frame a SMART financial goal: