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Financial goal planning tips you need to know

It can be a very frustrating process to get one’s finances in order especially when you’re at one of those critical junctures in life: getting married, getting your first job, welcoming a baby, etc. Stop stressing yourself out because not only are we giving you some of the most important financial tips to get your finances in order, we also also going to reveal the ‘how’ and the ‘why’ of financial goal setting to bring more fiscal discipline in your life.

In truth, although these are related financial goals, you can apply these principles to any form of goal setting.

Tip 1: You are your CEO


Think of your finances as if it were a business and you were the CEO. I find this sort of analogy helps quite a fair bit in keeping you disciplined and motivated.

What should you plan then? A simple suggestion would be to plan a monthly budget based on your income and expenses. Sadly, most of us do not do that or even keep track of our expenses! (I think many of us will be shocked when we actually start to keep track of the ins and outs!)

You could also create a savings plan (saving $x/month) or a plan focused on a specific purchase (holiday, investments, gadgets, etc). The point is to start planning to bring in some fiscal discipline in your life. Do not underestimate this step. Indeed, this is a crucial first step to getting your financial life in order and towards saving and making more money.

Tip 2: Recognize these are ‘guesstimates’


When you budget and plan, do be aware that a lot of the figures are guesses and will not map on fully onto real life as it unfolds. This is ok. As you do it more and more often, you’ll find yourself developing better financial awareness and sense. These skills will put you in good stead for the rest of your life.

Tip 3: Allow flexibility


Do find a balance between the need to be disciplined and living for the ‘moment’. Life doesn’t always go according to plan so expect unexpected expenses (but also unexpected opportunities) to come up every so often.

Do not beat yourself up when you fail to stick to a goal for any particular month or week. Learn to let go and be flexible! No need for unnecessary stress.

Tip 4: Track and check


The whole point of setting a budget or doing some sort of financial planning is to get a clear-eyed appraisal of your monetary ins and outs. It would be self-defeating if you do not track and check. Honestly, it doesn’t even take more than 5 minutes to simply check (every week) on how you’re doing and if you’re on track to your saving goals or if you’re keeping to your budget for the month.

Tip 5: Adjust

Finally, you should make financial adjustments from the ‘data’ mined your track and check. Most of these would be minor but you’ll be surprised at how small minor modifications adds up at the end of the month! Maybe you’ve been eating out too often and your budget compels you to cook at least once more every week. Let’s assume you’ll save $9 every week because of this. This, in turn, adds up to extra savings of $36/month and $432 a year!

This might not seem like much but did you know that there are many interest paying regular saving accounts (google link here!) out there that will help grow your money?

Give it a go and remember there is no financial plan to small to start.

About the author


Dylan Loh

Dylan is an academic and political scientist. He has also written over 5 books on motivation, focus and personal development. He tweets at