Setting financial goals

Let’s talk about setting financial goals, because who doesn’t want to take control of their financial future, right? Now, we know the idea of setting financial goals might sound a bit intimidating or overwhelming, but they’re a game-changer. And don’t worry, we’ve got some finance goals and objective examples (with tips) to help you get started on the right foot. So, why set wealth goals? Well, having a clear vision of what you want to achieve financially can provide you with direction, motivation, and a sense of purpose. It’s like having a roadmap to guide you towards your desired destination. Plus, it’s incredibly satisfying to see your progress as you check off those goals, one by one.

setting financial goals, wealth goals

Finance Goals and Objective Examples

Now, let’s dive into some good finance goals and objective examples. Remember, these can vary depending on your personal circumstances and aspirations, but here are a few to get your creative juices flowing:

1. Emergency Fund: Setting a goal to build an emergency fund is always a smart move. Aim to save three to six months’ worth of living expenses to provide a safety net in case unexpected events come knocking at your door.

2. Debt Repayment: If you’ve got some lingering credit card debt or loans hanging over your head, why not make it a goal to pay them off? Set a realistic target, create a repayment plan, and watch that burden lift off your shoulders.

3. Invest Intelligently: A diversified investment portfolio that gets you on the road to financial freedom. You want to start saving early and set a goal to invest a certain percentage of your income, and over time invest across products like retirement, discretionary and offshore. You’ll thank yourself when you can kick back and enjoy your hard-earned relaxation time. If you can get to investing 20% of your income, you’re on the fast lane to achieving financial independence.

4. Education or Skill Development: Investing in yourself is always a wise choice. Set a financial goal to fund your education or develop new skills that will enhance your career prospects and potentially increase your income. The world and skills needed for the future are changing rapidly. Stay ahead of the curve.

5. Travel Fund: Life isn’t all about work and responsibilities, right? Set a goal to save up for that dream holiday you’ve always wanted. Having a travel fund not only motivates you to save but also gives you something exciting to look forward to.

Now that we’ve got some finance goals and objective examples, let’s talk about budget goals. Creating a budget is a fantastic way to manage your money effectively and ensure you’re on track to achieve your financial goals.

Budget goal examples to consider:

Budget goal examples are about understanding what is absolutely necessary, what is discretionary (the nice things to spoil yourself with), and where you’re wasting money without even realising it. Because by cutting out wastage, you’ll have more money to pay off debt, invest and achieve the things that are really important to you.

1. Track Your Spending: Make it a goal to track your expenses meticulously. It might sound tedious, but understanding where your money is going is the first step to making positive changes and saving more. There are loads of apps that can help you. 22Seven is one good example. Or just do it the ‘old fashioned’ way using a spreadsheet. But find a method that works and you can stick to.

2. Cut Unnecessary Expenses: Take a close look at your spending habits and identify areas where you can cut back. Do you really need that daily takeout coffee or those monthly subscription services you barely use? Trim the fat and redirect those funds towards your goals.

3. Automate Savings: Set a budget goal to automate your savings. Arrange for a portion of your income to be automatically transferred to your savings or investment accounts. It’s a painless way to save consistently without even thinking about it. Start with 5% of your income and build up to the point where you can save an invest 20% and more. 

4. Regularly Review and Adjust: Make it a habit to review your budget regularly. Life changes, circumstances shift, and priorities evolve. By staying on top of your budget, you can adjust it to align with your current financial goals and needs.

Wealth Goals

Setting specific wealth goals is a game-changer on your road to financial success. It’s like having a GPS for your money! When you clearly define what you want to achieve, whether it’s buying your dream home, building up that retirement fund, starting your own business, or gaining financial independence, it’s like having a destination in mind. You know where you’re headed!

By nailing down the specifics—like how much you want to save, when you want to reach your goal, and what resources you’ll need—you can stay on track, make tweaks along the way, and celebrate those money milestones. These goals give you purpose and keep you motivated and focused as you make smart money moves. So, let those specific wealth goals be your compass and guide you to a future that’s financially abundant and your ticket to freedom!

Read Next: The Biggest 8 Financial Mistakes to Avoid!

Setting financial goals: Conclusion

Setting financial goals and wealth goals – and  working towards achieving them can be fast-tracked by working with a qualified financial planner who can guide your decision making and be an objective sounding board. At Henceforward, that’s what we’re good at so feel free to contact us for an informal chat.

Carl-Peter Lehmann

Carl-Peter Lehmann

Carl-Peter is a Director and Partner at Henceforward. He has more than 20 years’ experience, has worked internationally for big global institutions and is a Certified Financial Planner™ and Investment Professional. Helping his clients set goals and explore what is possible for their lives and with their money is something he is deeply passionate about.

Share via your favourite social media platform


As an executive, you're well aware that your financial landscape is unique and complex. Your wealth is typically tied to the success (or otherwise) of the company you work for - primarily via its share price - and the share options that form a large component of your remuneration package.

The role of a Private Wealth Manager goes beyond investing and portfolio management. It's about building relationships based on trust and responding to the emotional needs of clients, supporting them to achieve what matters in their lives. Here we explore what that entails.

In the journey of investing, the path to financial success is often paved with informed decisions and strategic planning. This piece delves into essential investment advice, offering insights not just on avoiding pitfalls but on embracing practices that lead to long-term success.

Sign up to our newsletter to stay informed on our latest news, views and insights on financial planning and investing

* indicates required

Download Your Free Copy of the 8 Deadly Investment Sins and Transform Your Investment Results!