Setting Saving Goals (SMART)

Saving is easier when you have a clear purpose. Use the SMART framework to define your goals:

Letter	Meaning	What It Means for You (Example)
Specific	Clearly define the goal.	“I want to save for my daughter’s university fee.”
Measurable	Use specific amounts and timelines.	“I need Rs. 50,000 in 2 years.”
Achievable	Is it realistic based on your income?	“I need to save Rs. 2,083 per month.”
Relevant	Does it matter to your life?	“This will secure her future and relieve financial stress.”
Time-bound	Give it a deadline.	“The money must be available by January 2028.”

Breaking Down Your Goals:

Short-Term Goals (6 months to 2 years): Emergency Fund (3 months’ expenses), Eid clothes budget, or buying a new appliance.
Medium-Term Goals (2 to 5 years): Saving for a down payment on a scooter, starting a small silai (tailoring) business, or paying off a small loan.
Long-Term Goals (5+ years): Retirement savings, children’s higher education, or securing funds for a wedding.

By applying the Needs vs. Wants filter and using the 70/10/20 budget, you can find the money to start hitting your SMART saving goals today!

What is money? Cash vs. digital.

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Why saving matters

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Inflation explained simply.

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Activity: Make a simple monthly budget.

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