Lesson 2: Goals: Short and Long

About 30 minutes — Activity-based lesson

What You Will Learn

This lesson covers:

Short-term goals: things you want within weeks or months
Long-term goals: things that take months or years
SMART goals: Specific, Measurable, Achievable, Relevant, Time-bound
Setting your first real savings goal

Short-term goals: things you want within weeks or months

This section covers the key ideas about short-term goals: things you want within weeks or months. Discuss with your group or family and explore the concepts together.

Long-term goals: things that take months or years

This section covers the key ideas about long-term goals: things that take months or years. Discuss with your group or family and explore the concepts together.

SMART goals: Specific, Measurable, Achievable, Relevant, Time-bound

This section covers the key ideas about smart goals: specific, measurable, achievable, relevant, time-bound. Discuss with your group or family and explore the concepts together.

Setting your first real savings goal

This section covers the key ideas about setting your first real savings goal. Discuss with your group or family and explore the concepts together.

Check Your Understanding

1. What is a short-term goal?

Answer: A short-term goal is something you want to achieve within a few weeks or months — like saving $15 for a book or $25 for a gift.

2. What is a long-term goal?

Answer: A long-term goal takes months or years — like saving for a laptop, college, or a special trip.

3. What does SMART stand for in goal-setting?

Answer: Specific (what exactly?), Measurable (how much?), Achievable (can you do it?), Relevant (does it matter to you?), Time-bound (by when?).

4. Give an example of a SMART savings goal.

Answer: 'I will save $30 in 6 weeks by putting aside $5 per week from my allowance to buy a new art set.' It is specific, measurable, achievable, relevant, and time-bound.

Key Takeaways

Short-term goals: things you want within weeks or months
Long-term goals: things that take months or years
SMART goals: Specific, Measurable, Achievable, Relevant, Time-bound
Setting your first real savings goal

Ready for More?

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Continue to Lesson 3: The Math of Saving

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