Share
  •  
  •  
  •  
  •  
  •  
  •  

Some of the links in this post may be affiliate links. If you click a link and purchase an item I receive a small commission at no extra cost to you. All opinions are my opinion. Read the full disclosure here.

I love goals and I love money.

So let’s run through some money goal ideas for 2021 in case you need some inspiration!

Pay off $xxxx of debt

Aim to pay off a specific amount of your debt! Check out my post on How to Start Your Debt Free Journey and if you need some accountability, let me be your financial coach!

Do a no spend/low spend year

I did a No Spend/Low Spend year for 2020 and it was WELL worth it.

No spend month(s)

Or you could try doing a few no spend months throughout the year!

Save $xxxx

Whether you want to boost your emergency savings, save for a down payment, or to buy a used car in full, aim for a specific number and break it down into smaller savings goals!

RELATED POST: Top 3 Ways to Boost Your Savings

Start investing $100 per month

Or even just $25 a month! Start somewhere and aim to increase it over time.

RELATED POST: How to Invest Your First $100

Build a solid emergency fund

The amount you hold in your emergency fund is a personal decision, but you can aim to save up enough for you to be more secure.

Personally, I prefer at least one month of expenses, but eventually I would like to have 12 months of expenses saved. I also continue to add to my EF monthly.

Pay off all credit card debt

Credit card debt usually comes with the highest interest. So if you’re starting your debt free journey this is a great goal to set.

Read x finance books

Read some finance books to continue to educate yourself.

This year I want to read at least The Psychology of Money, The Simple Path to Wealth, and Money Master the Game.

Create and stick to a budget

Budgeting is SO important in order to make progress on your finances.

Check out my video on budgeting below. If you need further help, budgeting is something we do in my financial coaching sessions!

Max out Roth IRA/401K

Maxing out your investment/retirement accounts is a huge accomplishment!

If your employer offers a retirement plan with a match, I suggest you start there. Otherwise, look into your Roth IRA and/or a brokerage account.

Increase credit score to ___

Your credit score is important if you’re looking to buy a home or make any big money moves soon.

It will take some time, but you can definitely drastically increase your score over the year.

RELATED POST: How to Raise Your Credit Score in 30 Days

Start a side hustle

It seems everyone has a side hustle these days because they are so beneficial!

Maybe this will be the year you actually take yours seriously and go all in. Or you could get a second job!

RELATED: The Benefits of a Side Hustle

Start sinking funds

I started sinking funds a couple of years ago and absolutely love them. I keep mine in my high-yield savings account and they have helped me tremendously.

I have sinking funds for car maintenance, travel, personal spending, gifts, and more.

Buy a house

Buying a house is a big accomplishment.

Be sure you know what to expect before buying and this is a goal that should be broken down further.

Start with determining where you want to buy, find a real estate agent, get approved for a loan, etc.

Determine retirement plan

No matter what age you are you should be thinking about retirement.

If you create a retirement plan you can determine when you want to retire, how much you’ll need, what to invest in, and so on.

Related to that, I highly suggest you explore the FIRE Movement.

Develop a positive money mindset

This takes time, but it will be well worth the effort.

Actively work on improving your money mindset but changing your thought patterns, how you speak about money, and the actions you take regarding finances.

Let go of limiting money beliefs.

Make $xxxx in passive income per month

Who doesn’t want to make money while they sleep?

Determine how to start making passive income (investing, real estate, side hustles, etc.) and start taking action.

Create multiple streams of income

The average millionaire has 7 streams of income.

If you have multiple streams of income you create more financial security in your life. If you lose one source, it won’t have such a huge impact.

Open a high yield savings account

This is an easy goal you can check off right now!

I know HYS accounts aren’t as high as they used to be, but if you’re holding cash for any reason at all right now, it should at least be in an account that will grow more money.

The interest offered by a standard savings account is only gaining pennies.

Reach a specific net worth

Your net worth is the true indicator of your financial wellbeing.

Someone can earn a 6 or 7-figure salary but still have a negative net worth.

I used Personal Capital to track mine for free.

RELATED POST: Why You Should Track Your Net Worth

Stop living paycheck to paycheck

Living paycheck to paycheck or going into further debt each month is stressful and no way to live. Getting out of that cycle is life changing.

I have a very detailed post that will help you: How to Stop Living Paycheck to Paycheck

Better your career/income

This may involve finding a new job that pays better/is a better environment, negotiating a salary increase, or developing new skills to allow for that.

Find an insurance plan

If you have any dependents it’s important to find suitable life insurance in case anything happens to you.

Or, you may need to look into insurance plans for medical, dental, vision, or car insurance!

Take care of your health and big expenses!

This is also a great time to create a will.


There are many more money goals you can set, but hopefully this list motivated you to create your own goals and to get started on them!