How to Stay Focused on Your Financial Goals

Daily responsibilities can make it difficult to figure out your financial goals, let alone stay focused on them.

But taking some time to think about things like emergency savings and retirement, and how to reach them, can go a long way.

So what strategies can you use to map out and reach your financial goals? We’ve rounded up seven tried-and-true financial tips to help you plan, stay optimistic and keep your eye on the prize.

1. Zero in on what you really want
   Achieving your financial goals starts with zeroing in on what you really want. Maybe you’d like to chip away at credit card debt or tackle home improvement projects. Write your objectives down. Pin photos of your goals to a board. Get excited! Your passion is what’s going to keep you motivated to save even when you feel like giving up.

2. Set small, achievable goals
   When life’s throwing us curveballs, it can often be hard to think of the future – and that’s totally OK. Try breaking your goals down into manageable pieces. For example, if you want to save for a car, start small, like saving an extra $20 a week. Goals that are within reach will motivate you to achieve them.

3. Make a budget — and stick to it
   Budgeting is one of the simplest ways to achieve your financial goals. If you don’t already have one, now’s the perfect time to create a budget for the first time. Once you get going, you’ll start seeing your hard work pay off. Your success and determination will help keep you motivated to save money, now and in the future.

4. Pay your bills on time
   Paying your bills on time is one of the most important factors of a good credit score1. And a solid credit score is essential to achieving your financial goals because it gives you more access to loans, better interest rates and higher credit limits. To keep up with payments, try setting up calendar alerts 1-2 days before each one of your bills is due. When possible, go a step further by scheduling automatic payments with each lender so you’ll never miss a payment.

5. Contribute to your emergency fund
   Nothing can derail you from achieving your financial goals like unexpected expenses. From job loss to car repairs, an emergency fund is a great way to be prepared so you can stay on track. How much to save depends on your age and circumstances. Our guide on how to build emergency savings provides helpful information on why to save for emergencies and financial tips to save more.

6. Continue to invest in your future
   Regardless of how the stock market performs in the short-term, the best thing you can do is continue to invest in long-term savings vehicles, such as a 401(k) or individual retirement account (IRA). If you haven’t started investing, there’s no time like the present — and you don’t need much money to get started.

7. Stay positive
   Life’s full of ups and downs. While it’s easy to get distracted by challenges, it’s absolutely essential to stay positive in order to reach your financial goals. Remember what you’re working towards. Give yourself a pep talk when you need it. Look at those photos you pinned up and stick to the plan.

You’ve got this.

Reaching your financial goals takes planning and perseverance. But every time you reach a goal, even a small one, is reason for celebration. Stay inspired and keep your eye on the prize. Armed with these financial tips, you may reach your goals faster than you think.

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*Stacey Tisdale was a sponsored partner compensated by OneMain.

Melina Duffett contributed to this article.
1. Jayakumar, Amrita. “How Does Payment History Affect Your Credit Score?” NerdWallet.com. https://www.nerdwallet.com/article/finance/payment-history-affect-credit-score (accessed Aug. 16, 2021)