University of Maryland Extension

Reach Your Goals


Goal-Setting and Commitment Tools

Are you ready to take serious steps toward your financial goals? There are resources available that might increase your chances of achieving them. Research suggests that receiving regular “prods” or reminders (such as text messages and emails) may help you to increase your savings by drawing your attention to future goals and opportunities, keeping them at the front of your mind as you make spending decisions now. Consider checking out one of these resources to help you get started.

The first is, a free online service that allows you to create a "Commitment Contract" to help you achieve a personal goal. You select a date or time period by which you contractually agree to accomplish your goal. You have the option of choosing “stakes” for your goal: how much money you're willing to risk, and where you want it to go, should you fail. You can invite others to monitor your progress and act as supporters.


Another free resource is ,which is designed to help you save money by quantifying opportunities to avoid spending and to visualize your savings goal. Piggymojo uses texting and online technologies (for example, when you avoid spending, you can text piggymojo the dollar value and name of the thing you chose not to buy).


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