To be responsible for financial planning you must set goals. To reach these goals you must create a plan. What is a specific financial goal that you have? Based on what you learned in the lessons, explain your financial plan by identifying and describing each of the steps you would need to take.

Here are 6 steps to setting financial goals:

1. Figure out what matters to you. Put everything, from the practical and pressing to the whimsical and distant, on the table for inspection and weighing.

2. Sort out what's within reach, what will take a bit of time, and which must be part of a long-term strategy.

3. Apply a SMART - goal strategy. That is, make certain your ambitions are Specific, Measurable, Achievable, Relevant, and Timely. SMART.

4. Create a realistic budget. Get a strong handle on what's coming in and what's going out, then work it to address your goals. Use your budget to plug leaks in your financial ship.

5. With any luck, your tough, realistic, water-tight budget will show at least a handful of leftover dollars. Whatever that amount is, have it automatically directed into a separate account designed to address the first couple of things on your list of priorities.

6. Monitor your progress.