In financial goal setting, what does the 'measurable' aspect refer to?

The 'measurable' aspect in financial goal setting specifically refers to the ability to track progress toward achieving goals. When a financial goal is measurable, it means that there are clear criteria or metrics in place to assess how far you have come and what steps you still need to take to reach the goal. This may include setting specific dollar amounts, timeframes, or other indicators that allow you to evaluate your advancement and make necessary adjustments along the way.

For instance, if your goal is to save $10,000 for a down payment on a house in three years, being measurable means you can regularly check how much you've saved and how close you are to the target. This way, you remain focused and motivated, while also having the ability to identify if you're falling behind and need to change your strategies or increase your savings rate.