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7 Money Goals to Set in 2019

This year is coming to an end and it’s time to figure out our goals for the year ahead. Most people don’t make money goals when they start thinking about new years resolutions but making smart money goals is one of the best things you can do for your finances. 

These goals can be applied to every single person out there, not just the wealthy. So even if you’re living paycheck to paycheck, these can work for you. Do you have any money goals? What are they? Let me know in the comments!

woman holding money while looking confused or puzzled

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7 Smart Money Goals You Need to Set

#1. Start a Budget

The word budget is a dirty word in tons of homes but it really shouldn’t be. Creating a goal of starting a successful budget is an awesome option for next year and I couldn’t suggest it more. 

Budgeting is a key factor in being able to successfully reach any of the rest of the goals on this list.

It can make you save more money, spend less money, and pay off debt quickly. It’s important to have a budget that works and that you trust. 

If you’ve never had a budget before, I highly suggest that you check out our free course 5 Days to a Beautiful Budget: 

#2. Save More 

Saving money can be a real pain in the butt and it’s usually really hard to find good ways to start. Having money in your bank account at the end of the year is a huge goal for a ton of people (including me). 

I’ve always been horrible at saving money because I’d rather have fun things and experiences but as I grow older I’m realizing the importance of having a good sized cushion in my bank account and am slowly working towards that goal. 

Some blog content you can check out if your goal for the year is to save more money: 

#3. Make More

Making more money is a very common new years resolution and for good reason. People want to be able to make more money to have a more exciting life and there’s nothing wrong with that.

However, most people don’t actually succeed at making more money because they don’t have a solid plan in place before they decide that that’s what they want to do. 

Already have a job that you love? Here’s a few ways to make more money there:

  • Ask for a promotion
  • Ask for a raise 
  • Work overtime 
  • Transfer to a high paying job 

If you don’t have any of the above opportunities for making more money at your current workplace, you could also try out a side hustle. If you could believe it this blog started as a side hustle and it now routinely makes me thousands of dollars each and every month. 

Some awesome options for making more money on the side include: 

#4. Spend Less 

Some people are savers and some people (including me) are spenders and that’s just the way it works. It’s really hard for us spenders to stop wanting to spend money at every turn, trust me. 

Learning different ways to stop yourself from spending money is an awesome goal for the new year and can be a great way to save more money! We’re huge fans of spending less money but sometimes it’s hard to find good tips, so we’ve only wrote one post so far: How To Break Your Overspending Habit For Good

#5. Get Out of Debt 

Debt payoff is one of the most common financial goals for the new year and for some really good reasons. Debt is a horrible thing to carry around every single day. 

Debt can cripple you. It can make you stressed, and sad, and anxious. It can make keeping up with your bills that much harder and make paying for things a constant stress because you never know if you’ll have enough money since you had to pay your credit card debt. 

If your goal this year is to pay off debt, I highly suggest you check out some of these blog posts that can help: 

#6. Increase Your Credit Score

As you get older you realize just how important your credit score is to your overall financial health, so it’s important that you work hard towards increasing your credit score. 

Why is it so important? Well, a credit score is used by lenders (i.e., mortgage firms, car lenders, etc) to determine how likely you are to default on a loan. This means that they will give you either a higher or lower interest rate depending on your credit score. 

Having a lower mortgage or car loan interest rate can save you thoursands over the course of your life, so learning about credit is one of the best decisions you’ll ever make.

Personally, I’d like to get my credit score to at least 725 by the end of next year (the average for my age is around 625, so I’m doing pretty well). 

Some content to check out to get you closer to your credit score goals:

#7. Be More Frugal 

A ton of people are under the impression that being frugal means being cheap and that just isn’t the case. Frugality is a mix of all 6 of the above financial goals into one epic financial lifestyle. 

People who are frugal are awesome at saving money, make extra money at any opportunity, and have tons of money in the bank for a rainy day. And they do all of this while still having an awesome life.

Here’s some awesome content you can check out to start being more frugal:

Or you could also check out our free course 5 Days to Frugal.

Final Thoughts

Any of these 7 money goals can be a great choice for you in the new year or any time of the year. Take the time to create a plan to set better goals for the new year and set yourself off on a better financial note! 

If you have any money goals already set or you just decided on one, let me know in the comments why you decided on it! 

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Taylor O'Halloran

Hey! My name is Taylor O'Halloran and I'm a huge fan of saving money any way I can.I'm obsessed with dogs and I love all kinds of cheese even though my stomach hates it.  I'm a recent university graduate who just wanted to do her own thing and see what happens! Follow me on the journey!

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