Does Setting Money Goals Make You Nervous? How To Set Money Goals That Inspire You

UPDATED FOR 2024

Does setting money goals stress you out? And more importantly, does that stress make you decide not to set goals at all, and just hope for the best with your money? (You’re in good company if that’s a big YES for you!)

Lately, I’ve had a few clients approach me with that familiar worried tone, looking for guidance. Everyone has the same question. How do you set financial goals when the minute you think about money, the freakout knocks you over? 

If this rings a bell for you, read on! I’ll show you how to set goals that are inspiring, achievable, and stress-free. (Yes, even with MONEY!) 

Now, I’ll share how to set money goals. Here is my 3-step plan to make money goals actually FUN!

Set Money Goals Step 1: Set yourself up for success

To get started, let’s take an assessment so we can set you up for success with this or ANY goal. Grab a pen and paper, and write down these questions.

1- Where are you right now in relation to your goal? Know where you are now. Once you know where you currently stand, it’s a lot easier to get where you want to go. It’s from here that you discover your next best step. So write down your goal, then write where you are now with it.

2- Who do you need to BECOME to have what you want to have? To have what you want to have, you need to make room to BECOME the person who already has it. What does this mean? 

This means making room to grow into a new version of yourself, and without restrictions. Now, this doesn’t mean that you have to be “perfect” before you achieve anything at all. All you need to do is to grow into that new, expanded version of yourself as you go along. 

Consider this the “pre-work” for setting goals. You’ll also want to refer back to it frequently during the actual goal-setting process.

Step 2: Setting the actual money goal

Now, let’s get down to the actual goal-setting! Here’s how to set stress-free financial goals in three simple steps:

1- Set your BIG goal. What do you truly want? Think big here. What’s your ultimate dream, the end result, and the most desired outcome? For example, do you want to be debt-free, make your first 100K in your business? Do you want to have consistent 10K months (or even days)? How about having a million dollars in retirement? Think big-picture. Forget time limits. Think of the endgame, not the timeline. 

2- Set the NEXT BEST Step: Now that you know the ultimate destination, what is the very next step? Take note of where you are, what tools you have now, and which tools you need. Then, determine the next best step to get on the path to the big prize. 

For example, let’s say you have an earning goal of 100K. You made 30K last year. So what is your NEXT earning goal on the way to the Holy Grail of 100K? Make your next big goal no more than 50% of your current earning capacity. That means set the NEXT best goal would be 45K. 

NOW you create a timeline. Make a plan to increase your earning to 45K, set it on your timeline, and take action. 

3- Check in with your goals early and often. As you go along, don’t be a stranger to your goals. Check-in frequently, and keep taking note of where you are. Look out for benchmarks like these…

Did you reach the goal too fast? This might mean you’re setting the goals bar too low, and it’s time to raise it. 

Did your goal fall by the wayside? This could mean that it might not have been your honest goal in the first place. Maybe it was something you thought you “should” want rather than your honest desire.

Do your goals still feel aligned? As you go along, as yourself if what you’re moving toward still lights you up. If the answer is NO or even “IDK,” take note! See if your goals are still aligned, need adjusting, or even need to be let go. 

Now, here’s my quick little daily checklist for financial goals. You’ll notice that it’s in line with the overall goals-planning steps, but a bit more money-specific. 

Step 3: Take action every day.

Now, all that’s left is to take action every day. Here is My super-simple money goals checklist (your day-to-day action plan):

1-Keep your goal it visible at all times. That is, write it down somewhere so you can see it every day. (I set mine on my computer!) This is a simple way to continually reaffirm your earning goals. (Think LOA-type affirmations, if it helps you to do so!)

Pro Tip: I always have my clients reaffirm their earning goals every time we meet. It helps them stay focused and inspired! You can do this for yourself every time you visit your books, bank account, etc. 

2- Break it down. What is your next best step? Revisit it, and take action. I keep my “mini-map” of the next best steps on index cards and keep them in plain sight. Every month I review them and check them off as I complete them. Super-simple and it keeps me on track! 

3- Focus on an earning goal AND one other goal. To reach all your goals, ensure two things. First, that you’re actively working on your earning goals. Second, that as you earn more, you funnel those funds into additional goals. This way you grow your finances in more than one direction (i.e. just earning more money alone). 

4- Set your earning goal to make 50% more than your prior earning year. Do this EVERY year. (I’m in my fourth year in a row of setting and achieving this goal.)

5- Update your cash flow monthly and check in with your budget daily. This is an extension of knowing where you are at all times. It’ll help you determine if your goals are sustainable, or if you need to make any adjustments. 

Pro tip: I love the mint.com app for this purpose! Makes checking in with goals much more streamlined.

UPDATE: I now use the empower.com app, as mint.com is no longer available. It has a lot of the same features and is just as effective for keeping your finances organized!

6- Sit back and let the Universe drive. This is the step that you might not expect, but it’s as important as the rest. Once you’ve done the work, stop. You’ve done your part. Now, it’s time to let the Universe step in to help you get where you want to be!

I don’t have all the answers. I don’t always know the “how” of my goals. The good news is that you don’t have to know how it’s going to happen! I’ve made money and hit my goals in super cool ways, many of which I could never have imagined. 

Sure, show up and do the work. However, also know that you’re not ultimately in control of everything. That is how to set money goals without the stress!

So keep your goals in sight, and stay open to all the possibilities. Chances are that there are many out there that are way more amazing than you could imagine.

Now, tell me what YOU think! Do you love setting financial goals, or does the very idea freak you out? Which step that I outlined here resonates with you the most, and which one (if any) did you have questions about?

Leave a comment below and I’ll answer you as best as I can! 

Until next time,

Love, Light, and MONEY, Honey…

Kaylee

P.S. Is budgeting a part of your money goal strategy? Check out this post about setting a budget without feeling shame or stress!