In the midst of seemingly abstract financial jargon, goal based investing is about tangibility. We want to visualize our goals and then develop a plan to make our visions our realities. Initially, when thinking about goal setting, I go back to the voice of my high school health teacher reciting “Specific, Measurable, Achievable, Relevant, Time Limited.” These are, of course, the SMART goal setting principles we are taught as children, teenagers, and then finally (somewhat) understand as adults. In a world where workout classes are expensive and fast food is cheap, we truly understand the importance and vitality of meeting these criteria as applied to our health.
Setting SMART goals works. No longer can you go to the gym every few weeks and consider that New Year’s Resolution of “working out” fulfilled. We need specificity, a time frame, and probably a gym membership. Goal based investing incorporates these tangible and trackable elements of goal setting into your personal financial goals because we know that Financial Fitness is important too. We, the modern generation, want to be financially secure and know that if anything unexpected should come up, we have the means to support ourselves through it.
Thankfully, Evati’s App makes Financial Fitness through goal based investing easy and even fun. The screens in our App make measuring, visualizing, and even coming up with ways to help get back on track a whole lot easier. With a single tap, you can track your progress and hold yourself accountable to goals of owning a kayak, 2-bedroom apartment, or even your dream home.
Right alongside with the lofty goal of being a homeowner is the goal of surviving the upcoming wedding season without a financial breakdown. Weddings are fun and all, but before you can enjoy a fun night of love, dancing, and (hopefully) an open bar, you have to buy gifts, airfare, and pay your neighbor’s kid for some high quality dog sitting. Instead of trying to convince your boss to give a “wedding szn bonus,” this year you can open up the Evati app and start your Goal Based Investing. By simply plugging in the amount of money, time frame, and a nice background photo to keep you motivated, you have created a SMART goal for yourself. You are now equipped with the means to monitor your progress and grow your money so you can wow the other guests with your engraved cake knife for Naomi’s wedding.