3 Money Goals You Absolutely Need for 2021

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No. More. Money. Worries. Can you just imagine how that would feel, for a moment? Being able to sleep at night and not feel sick from debt weighing heavy in the pit of your stomach. Imagine a feeling of ease and security, knowing how exciting and bright your future looks? Well, I want to help you get your finances back to good health, so I’ve put together these three money goals you absolutely should have for 2021. 

Get Out of Debt Once and For All (free PDF)

You want to get out of debt, right? Of course you do! But I get it — you don’t want to be miserable in the process. I know, I’ve been there! There’s a little-known secret that I want to share with you, which is this: You absolutely can get out of debt AND still buy nice things, like shoes, or handbags, or the odd meal out.

And life is just too short to stay in debt and be burdened with it for the rest of your life. I have a free PDF to help you with this, which you can access below. So, put on your big girl pants, and click the link below to access this super simple strategy. 

Start getting debt-free now. 

Save up For an Emergency Fund

Getting out of debt CAN be straightforward, but sometimes things happen to put obstacles in your way. What you absolutely don’t want to be doing is sabotaging all of your hard work in getting out of debt, only to take one step forward and two steps back. That’s why it’s really important to have an emergency fund, to cover you in case something does happen. That way, you won’t have to rely on using a credit card to get out of a sticky situation. 

As well as having a fund to get you out of money trouble, I really recommend having savings to cover you for a longer-term emergency as well, such as a job loss. We’ll cover both types of the emergency fund below.

Part 1: How to Save £1,000

To protect yourself and your progress, having £1,000 saved up ready to go if something happens is a really important first goal. For example, if your car breaks down, you need to replace your washing machine, or do some house repairs. 

I know that nothing that is worth doing is easy, so you need to make a commitment to yourself to do this. And saving money might seem tricky at first, but actually, there are a few ways you can do it (and have fun at the same time!). I can tell you though, that it is TOTALLY do-able. You can reach your money goals!

You could use a money-management app like plum which saves money without you noticing. Or try the 1p savings challenge (free spreadsheet), which will help you save almost £700 in a year. Add a few more savings tricks and you’ll reach £1,000 sooner than you think. Read on for more information on how you can do that. 

Part 2: Save 3 — 6 Months’ Worth of Expenses

As I mentioned above, having this kind of savings buffer is REALLY important, and you can still do it while you’re paying off debt. It goes against conventional wisdom of paying off debt first, but the reward of knowing you have that money there if you became ill and couldn’t work is so worth it. 

So, 3 — 6 months’ worth of expenses is just that; it should be enough to cover your mortgage, bills, food and fuel etc. If you need some inspiration and tips on how you can find extra money to help with this, check out my free £1000 emergency fund challenge. While it says £1,000, there are plenty of ideas in here which could help you surpass that! 

Increase Your Income — Start a Side Hustle

Once you’ve covered all of the suggested options to find extra money from the £1,000 emergency fund challenge, it’s time to look at other ways to increase your income and consider a side hustle. 

You could look at doing overtime at work, or you could get a part-time job. Alternatively, you could start your own little gig on the side of your main occupation. 

There are plenty of ideas out there to help you reach your money goals, from selling stuff on eBay, to being a virtual assistant or selling services online (graphic design, writing, book-keeping as a few examples!). I also cover these in the £1,000 emergency fund challenge, so get access now, and go grab some inspiration! 

 

 

 

P.S. If you enjoyed this, why not try:

Money archetype

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