In Ain’t I a Woman: Black Women and Feminism Bell Hooks, intellectual and cultural critic, discusses the downfall of one of the more unilateral characteristics that black people in general, and black women, in particular, pride ourselves on.

As Hooks explains it, strength has more to do with the ability to endure than the ability to overcome. And it’s true. As it relates to money management, it takes a lot of strength to know the dire consequences of certain financial moves and yet follow through with them anyway.

But Girrl, you still standing! You still strong! You keep your head up!

The key to financial empowerment, though, has nothing to do with strength; it has everything to do with being S.M.A.R.T.

S.M.A.R.T. Corporations and institutions run like corporations, large non-profits, and (non)-religious foundations, have utilized the structure of the S.M.A.R.T. goal to guide long-term planning, financial or otherwise. Anyone familiar with the use of SMART goals know that they have to be specific, measurable, attainable, realistic, and timely.

The benefits of the SMART goal is that it concretizes and focuses long-term plans, making them manageable and more easy to do– hence, maximizing the chances of meeting and/or exceeding initial expectations.

How to Turn Your Goals into SMART Goals:

One of my client’s core financial values is: Spending money on experiences, home ownership, or learning is more valuable to her than spending money on items that do not appreciate in value. For example, Shana wants to reallocate six months of “shopping free” savings toward funding a trip to Costa Rica or toward beefing up her condo fund. To help her plan accordingly and stay on track, I have translated this financial belief into the following S.M.A.R.T goal:

From June, 2014 until December 2014, each month, I will save the ~$225 that I spent on clothes, jewelry, shoes, and accessories (as evidenced by my previous VISA statements) toward the $1,500 cost of tuition, accommodations, and the like for Costa Rica or my condo account.

How S.M.A.R.T. is this goal?

S  –  Is this goal specific?  Yes, It’s a 6-month goal with monthly benchmarks.

M  – Is this goal measurable?  Yes,  her bank statements will reflect the growth.

A –  Is this goal attainable?  Yes, Shana chose one financial value (meaningful spending) and applied it to one area of her life (shopping for clothes) so she will not feel overwhelmed or deprived.

R –  Is this goal realistic?  Yes, deciding not to shop for six-months is realistic. If Shana wants to add nuance to her wardrobe, she can consult styling guides to create “more” outfits.

T –  Is this goal timely?  Yes, Shana’s goal begins June 1st, 2014 and ends December, 31^st 2014.

Why Be Strong When You Don’t Have to Be? 

Having SMART goals that have a beginning, end, and purpose will make the transition from not shopping for clothes to saving for a trip (or whatever else) a lot easier for Shana. I teach Shana that the types of conversations that she has to have with herself are rooted in a cost-benefit analysis, which are grounded in strong, healthy personal financial principles and values. It keeps her from having to deal with buyer’s remorse, guesswork, and money-related drama.

BMWK Family: How can you create SMART goals to help you reach your next savings goal?