24. A person is setting a goal to save money for a trip to Hawaii and decides to put $150 in a savings account every month for a year. Why is this goal better than a goal like 'save money for a trip to Hawaii'?
Answer: D
This goal is specific and measurable.
Setting a goal to save $150 every month for a trip to Hawaii is specific because it defines a clear action (saving a set amount) and measurable as it allows the individual to track their progress over time.
A) This goal is long-term and cheap.
While saving money can be seen as a long-term goal, the focus on the specifics of the monthly saving amount makes this option incorrect. Additionally, the goal does not inherently relate to being "cheap," as the cost of a trip can vary significantly.
B) This goal is holistic and engaging.
The term "holistic" implies an all-encompassing approach, which does not specifically apply to the goal of saving a set amount of money. Furthermore, while engaging goals are beneficial, this option does not capture the clarity and trackability that define the goal in question.
C) This goal is achievable and short-term.
Although saving $150 monthly can be seen as achievable, the goal spans a whole year, which makes it a long-term objective rather than a short-term one. Therefore, this option does not accurately reflect the nature of the goal.
D) This goal is specific and measurable.
This option accurately describes the goal, as it clearly states the amount to be saved monthly and provides a timeframe of one year, making it easy to assess progress. Such specificity is key to effective goal-setting.
Conclusion
The correct answer, which identifies the goal as specific and measurable, underscores the importance of clarity in financial planning. All other options fail to encapsulate the defining traits of this goal, illustrating why specificity and measurability are crucial for successful goal attainment.