Each year I read Oh! The Places You'll Go by Dr. Seuss to my 5th grade class. We discuss how the story, though silly, is how about we will grow and change this school year.
After a lengthy discussion of the importance of setting goals, each student creates an academic and a personal goal for the year. Students are also expected to write HOW they will accomplish their goal. Once their goals are completed, spell checked and reviewed by a classmate, students write their goals on their Goal Suitcase.
During family night, or fall conferences, parents are given one of the luggage tags to write their own goal for their child. This is placed on the suitcase. Mid-way through the year, students review their goals and make changes, or create a new goal, using the other luggage tag.
I have these printed on various colors of card stock which allows students to have different color suitcases and luggage tags if they wish. Students are also encouraged to decorate the suitcases and luggage tags.
I'm posting a picture of the bulletin board as it is now, once school has started I will update it with everyone's suitcases :)