how to set your money goals

How To Set Your Money Goals

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How To Set Your Money Goals

You can’t get something if you don’t know that you want it. The same applies to money. If you have not set money goals, you will not reach any goals.

Can you answer simple questions on what you want?

  • How much money do you want to earn this year?
  • What accomplishments on your career or business do you want to achieve?
  • Do you want something that costs money like buying a new car or traveling in an exotic country?

What do you really want?

If you can answer any of these questions, you have a goal and hopefully, you take action to achieve it. You do not have to answer all these questions. Even one answer like “I want this” is more than enough to get started.

The problem is that most people do not know what they want or what they try to achieve. It happens because there are too many distractions on our environment. So, when you ask people what their goals are, they take some time to think about it which means they have not set a clear goal.

On this article, you can read a few ideas on goal setting and why it’s important.

What Is A Goal?

According to the dictionary, a goal is the object of a person’s ambition or effort; an aim or desired result.

So, it can be a lot of things. It can be the result you expect from your efforts. If you don’t expect anything, there is no goal.

Also, it can be an aim, ambition or the desired result. With a few words, something you want or try to get.

A goal is not a wish or a hope for something. A goal is a goal when you do something about it. It requires a plan, actions or commitment.

Here is a nice quote by Brian Tracy:

“A wish has been defined as a ‘goal with no energy behind it.’ Hope is not a strategy.”

You have a goal when you want something, know that you want it and there is a plan or at least an action toward its achievement.

Why It’s Important To Set Goals

You need a direction: It’s obvious that if you don’t have a destination, you don’t know where you go.

Many people do the same things over and over again without any positives results in different areas of life. When it comes to money, many people do not like their jobs but they don’t try to do something else, or they want to start a business but they never take the first step.

When you have goals, these decisions are easier because you follow a path. You know what the next step is.

Motivation: Some people do not even take the first step and others give up anything they do after a few obstacles. These things happens because of a lack of motivation to move forward.

If you really want to reach your goal, you will overcome any obstacle. It does not matter if it’s too difficult or takes too much work.

“Obstacles are those frightful things you see when you take your eyes off your goals”.

Henry Ford

Have fun: When you work to reach an important goal, you enjoy the process. Many successful people love what they do while most unsuccessful people hate their jobs. They enjoy the process because they have a purpose.

When your goals mean something for you, it’s easier to have fun and do tasks that you would not like. Also, the closer you get to your goals, the better you feel.

How To Set Your Money Goals

It does not have to be a number: It’s ok to set a specific money goal like “I want $5,000 per month” but you can go for rewards, things you want to buy or accomplishments.

For example, if you want to buy a car but you don’t have the money, you can work for this car. It depends on what makes you feel better. Some people are not motivated enough when they want to reach an amount of money. Others want to start a business or get a higher position.

All of them are fine. You just need to choose your direction and start working on it.

Think Big: The bigger your goals, the bigger you will get. Many times people who lack confidence go for small goals.

When Sam Walton purchased his first variety store, set up a goal to make it the most profitable variety store in Arkansas in the next five years and he achieved that. This is a great example of someone who set big goals.

“Shoot for the moon. Even if you miss, you’ll land among the stars.”

Les Brown

The bottom line is that if you set big goals, you can expect big results even if you don’t reach your initial goal.

It must excite you: You can’t feel good if you don’t care about the results of your work. It will be just another day in the office.

When you expect something that excites, everything changes. You are willing to work harder, learn new things and you are in a positive state most time of your day.

The magic is that every person gets excited with different things. No one can say what you must do in your business, career or life. When it comes to money everyone has a different amount as well.

Some people get excited with a goal on earning six figures per year. For others this goal is too big so they would have doubts or too small to work for that.

Also, you may get excited with other things like go in a business of your own and make it work, start an online business, get a raise in your job or learn a skill that could be profitable. Anything can work if you feel good enough to go for it.

Time limits: Some people put a time limit and works well for them like the example above with Sam Walton. Others do not put a time limit at all.

For example, Kobe Bryant’s goal was to become the best player he can be. There are no time limits and it’s not specific. However, he was motivated to put long training hours every day.

When you put a time limit, you do not want to create pressure, doubts, and anxiety because they decrease your motivation and you will not enjoy the process. In some goals, you have to put a time limit but in others, it’s better to be more general.


It’s not complicated to set a money goal. Here is a summary of the article in five steps:

  • Find what you want (money number, object, accomplishment)
  • Think smaller and bigger goals until finding what excites you (don’t be afraid to set big goals if you feel good about them)
  • Take action today (the first step)
  • Consider if it helps you to put a time limit or no
  • Have fun (enjoy the process)

You can start today and set your first goal. Many people set many goals. I prefer to set one goal at a time. Once you reach a goal, don’t lose time and set a new one that excites you!

Here is my goal:

I am going to become a super affiliate of Wealthy Affiliate!

Feel free to share your goals below, share any ideas or ask questions.

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