SMART goals are a framework for setting goals that are Specific, Measurable, Achievable, Relevant, and Time-bound. Here's what each of these components means:

1. Specific: A specific goal is clear and well-defined. It answers the questions: What do I want to accomplish? Why is this goal important? Who is involved?

2. Measurable: A measurable goal has a quantifiable outcome. It answers the questions: How much? How many? How will I know when I've accomplished my goal?

3. Achievable: An achievable goal is realistic and attainable. It considers the resources and time available to accomplish the goal.

4. Relevant: A relevant goal is aligned with your values and priorities. It answers the question: Does this goal matter to me?

5. Time-bound: A time-bound goal has a specific deadline or timeline. It answers the question: When will I accomplish this goal?

Using the SMART framework can help you set more effective goals that are focused, specific, and have a higher chance of success. By breaking down your goals into these specific components, you can better clarify what you want to achieve, how you will measure success, and when you expect to achieve your goals. That said, SMART goals are a fantastic tool for setting financial goals. Here are the steps you can take to set SMART goals for setting financial goals:

1. Specific: Identify a specific financial goal you want to achieve. For example, saving $10,000 for a down payment on a home, paying off a credit card debt of $5,000, or increasing your retirement savings by 20%.

2. Measurable: Determine how you will measure progress towards your goal. This could be tracking your savings, debt balances, or investment portfolio values. You should set milestones or checkpoints to assess your progress towards your goal.

3. Achievable: Make sure your goal is realistic and achievable based on your current financial situation. Consider your income, expenses, and other financial obligations when setting your goal.

4. Relevant: Ensure that your financial goal aligns with your values and priorities. For example, if family is important to you, your goal may be to save for a family vacation. If career development is important to you, your goal may be to invest in education or training to boost your income.

5. Time-bound: Set a deadline for achieving your financial goal. Determine a specific date by which you want to achieve your goal, and set milestones or checkpoints to assess your progress towards achieving it.

By setting SMART financial goals, you can establish clear objectives, measure your progress, and stay motivated to achieve your desired outcomes. Your financial counselor can help you create a plan to achieve your goals, track your progress, and make adjustments as necessary to keep you on track.