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How to set Goals

Setting goals is an important part of our lives because it gives us a sense of direction. It dictates where we want to be in life and keeps us accountable at the same time. It can also increase motivation to perform better and notes down what we truly want for ourselves.

I like to keep my goal setting simple and tend to revisit them once every 3 months to see how I’m tracking and if I need to tweak anything.

I split my goals in 4 different categories across 3 different time zones (Next 12 months, in 2-4 years, in 5+ years).

  1. Financial
  2. Work
  3. Health
  4. Relationships

Within each category I try to limit to a maximum of 4 goals – having too many goals to focus on at any given time may cause you to lose focus on and reduce the effort you can put into each.

Category #1: Financial

In this category I want to flesh out where I want my finances or any money related goals to be in 12 months.
Some examples of this include:

  • I want to save a total of $10,000 this year
  • I want to save $5000 into an emergency fund
  • I want to invest $10,000 into ETFs
  • I want to salary sacrifice an extra $50 a week into superannuation
  • I want to spend less than $500 on dining out every month
  • I want to increase the balance of my offset account by $20,000
  • I want to start a side hustle
  • I want to buy a house
  • I want to buy an investment property
  • I want to spend less than $5000 on groceries

Category #2: Work

In this category, I want to list things that are related to my job or role.
Some examples of this include:

  • I want to get that promotion at work
  • I want to close 30 sales every month
  • I want to look for a new job
  • I want to have use all hours of my annual leave
  • I want to use a maximum of 5 days of sick leave
  • I want to grow revenue for the business compared to last year
  • I want to figure out if I want to change roles for 2027
  • I want my salary to increase by 20%

Category #3: Health

In this category, I want to hone in on fitness goals or goals related to health and wellness
Some examples of this include:

  • I want to do cardio twice a week
  • I want to eat in a calorie maintenance
  • I want to go to the gym at least twice a week
  • I want to do an annual blood test
  • I want to sleep before midnight every night
  • I want to cut out soft drinks altogether
  • I want to play tennis once a week
  • I want to bring my blood sugar level down to 5
  • I want to bring my resting heart rate down to 60
  • I want to go on a run twice a week
  • I want to go for a walk after eating dinner
  • I want to be able to run a marathon

Category #4: Relationships

In this category, I will list 3 or 4 goals I want for the relationships around me, that be my partner, family, close friends, work colleagues, children etc
Some examples of this include:

  • I want to see my parents once a week
  • I want to call my parents once a fortnight
  • I want to start a new hobby with my girlfriend
  • I want to go to the gym with my wife once a week
  • I want to support my brother with his children
  • I want to hang out with colleagues outside of work once a month
  • I want to take my wife out on a date once a fortnight
  • I want to go on vacation once a year with my parents
  • I want to propose to my girlfriend
  • I want to spend the weekends outdoors with my children

 

Summary

Setting goals does not have to be complex. Setting realistic goals can be an important part of your personal finance journey but also to find clarity on other important aspects of your life.


Feel free to download the free goal setting template here, or by visiting the resources page.