2018 Financial Goals

Firstly, Happy New Year! I hope 2018 is full of happiness and achievement for all of you.

I wanted to outline my financial goals for this year because I think it could be of interest to some of you and I want to be kept accountable. This is the first year that I will be in full time employment and so can rely on a steady monthly income to do something with. I am still figuring out what to do with it and how best to manage my money.

Fair warning; there will be a frank discussion about money below!

Goal 1 – learn more about managing money

I love The Financial Diet on YouTube, their videos are so informative; even if some of the advice is specific to Americans. I want to learn more about how to best manage my money so that I can make the most of it and also budget well.

I have also been using Money Saving Expert to find good bank accounts and have already opened a new current account that will pay interest on a positive balance, which leads nicely onto Goal 2.

Goal 2 – Get Organised

For too long I have left my Student; now graduate account open and have only used it for the overdraft. This has lead to an awful habit of trying to get the balance to 0 so I can close the account, but really using it for any ‘guilty’ purchases that I don’t want to see on my normal bank statement.

After being paid for December I paid off all of the overdraft I accumulated over Christmas. As soon as I could, as in the 2nd January, I went into the bank and closed my account. It was so simple, I am kicking myself that I didn’t do it sooner. This should stop me making so many impulse purchases and give me more control over my money.

Another step I have taken to getting more organised with my money is I downloaded Yolt. It is a money tracking app that connects directly to your bank account, so there’s no need to remember to input every purchase. The app also has the same security as a banking app as it is made by ING. The app is beautiful to look at and will come up with helpful insights about your money.

So far I have done a pretty good job of getting organised. I just need to make sure that when I switch to my new account I manage my old account and remember to close that one too.

Goal 3 – Save

One of the best things about earning money is that I have space in my budget to save. I already have an emergency fund that I can use to bail myself out. Now it is time to focus on saving properly, for a house or a better car perhaps. I want to save £500 as soon as I get paid and then any spare money in my current account before my next paycheck. This means that in a year I can save £6,000 even without the end of month extras.


So there you have it! I hope to stick to these goals and really set myself up this year. Let me know your financial goals for this year, or even longer term!


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