How to Set Money Goals You’ll Actually Achieve

We all start with good intentions when it comes to money goals but too often we let them fizzle out. The truth is, it’s not about willpower, it’s about the way the goal is set. When your money goals are designed to fit your life and align with your value, you’re more likely to stay consistent and make them happen.

Here’s how to set money goals that actually work.

Why money goals matter

Too often, people set vague money goals like “save more” or “stop spending” without a real plan, and when life throws you something unexpected (which it always does), those goals fall to the bottom of the priority list. 

The key? Setting goals that are clear, motivating and realistic to where you’re at in life.

Step 1 Build a solid foundation

Before you even write down a single number, get clear on why you’re setting this goal.

Are you trying to feel less anxious about money? Want to stop living paycheck to paycheck? Do you dream of buying a house or travelling more? 

When your goals are connected to something meaningful, like creating a better future for your family or feeling more freedom day to day, they’ll carry more weight when the going gets tough.

Money goals aren’t just about numbers. They’re about giving you direction and helping you avoid debt and missed opportunities.

Step 2 The SMART method

The best money goals follow the SMART framework. Specific, Measurable, Achievable, Relevant and Time-bound. Let’s break it down:

🎯 Specific: Don’t just say “I want to save money.” Try “I want to save £2,000 for a holiday to Italy.”

📏 Measurable: Attach numbers. That £2,000 could be broken down to saving £167/month for a year.

💪 Achievable: Your goal should stretch you, not stress you. Look at your budget, what’s realistic based on your income and expenses?

💖 Relevant: Make sure your goal actually aligns with your values. Want to be debt-free? Then you might need to pause credit card spending.

⏳ Time-bound: Give it a deadline. Want to pay off £10,000 in two years? That’s around £417/month, suddenly the dream feels doable.

Step 3 Model your money goals

Visual goals make such a difference. Whether it be a vision board, putting your goals in the Financielle App or even sticky notes, seeing progress keeps your motivation alive.

One of our favourite hacks is budgeting for your future self. What would your monthly budget look like during your first month as a homeowner. Picture this, you’re making your new budget including your monthly mortgage payments, household bills and building your savings back up. 

Step 5 Prepare for setbacks

Here’s the truth, life is going to throw you curveballs but that doesn’t mean you need to abandon the plan.

Whatever your money goal, you need an emergency fund to help keep you on track. The Financielle team love keeping their emergency funds in a Trading 212 Cash ISA.

*with investing your capital is at risk

Step 6 Stay motivated and accountable

Money goals are easier (and more fun) when you’re working alongside someone!

👯‍♀️ Community: Sharing your goals with others or checking in with a trusted friend or partner can help you stay focused.

📊 Track everything: Use the Financielle goal tracker to get those little dopamine hits as you move closer to your target.

📅 Check in often: Every couple of months, schedule a mini money date. Can you hit your goal sooner? Do you need to change course?

🥂 Celebrate wins: Hit a milestone? Go for a nice dinner or plan a chill weekend activity. Just make sure your celebrations are values-aligned.

If you want a more in depth guide to setting money goals with BBC Finance Expert, Laura Pomfret, watch this podcast episode!⬇️

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