Personal Finance 2015: Goals You Should Set for Yourself

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The year 2014 is drawing to a close and a brand new year is upon us. How did you do with the goals you set for yourself at the beginning of the last year? Were you able to tick off most of them? Did you miss any? If you managed to achieve all your goals for this year, congratulations! If not, that’s okay. A fresh year is always a fresh start!

Here are some financial goals you should set for yourself for the coming year:

1. Apply for Insurance

If you haven’t yet, apply for insurance. Get health insurance for yourself and your family to ensure that your medical bills won’t be very expensive, when it comes to medical emergencies. Other insurance you might want to consider getting are car insurance and life insurance, and travel insurance for when you travel around the country or across the globe. If you already have insurance, try to see if you can upgrade your current plan for a more value-for-money insurance policy that has better coverage than you currently have!

2. Invest in Something

This could be in a Car, Real Estate, Stock, Bonds, and other profitable investments. You can even put your money in a mutual fund and watch it grow over time! Just be careful where you put your money. Before investing, be sure you read up on what you’re investing in, and make sure that you’re ready for the risk! You’re entering into a high risk, high reward territory, so it might be good to not invest all your money in place. Divvy up your money into various investments, and then watch your money grow!

3. Clear Your Debt

In the coming year, make sure to chip away at your debt, whether it’s an outstanding loan or credit card debt. It’s a slow and long process, but if you consistently and continuously put some of your money towards clearing your debt, then you can be assured that it will disappear in no time! Clearing up your debt also helps improve your credit score, especially if you pay your dues on time.

4. Travel More

Go places this year! Treat yourself to a lavish travel experience in or out of the country in 2015. Check your credit card rewards points and see if you’re eligible for a free flight to the country of your choice, or at least a discount for round-trip airfare! You can also use your accumulated rewards points for seat upgrades, or to book lodging at the hotel of your choice! Don’t forget that rewards points expire after some time, so always check if you have points that will be expiring soon and claim them before they do!

5. Prepare for Retirement

People tend to forget about how important it is to save up for retirement until it’s almost too late! Start young: open a deposit account just for your retirement, if you haven’t yet. It would even be better if you start investing money and growing your wealth. The earlier you start saving, the greater chances for you to get bigger returns, toward a more fun, relaxed, and comfortable years in retirement.

6. Budget!

Budgeting your money should always be a goal! It helps you keep track of the money you receive, the money you spend, and the money you save. Knowing the flow of your money will help you allocate where it goes, and how much your money grows! Proper budgeting can also help increase your savings, and will let you spend a little more for yourself!


To help you reach your personal financial goals this year, we prepared a financial planner to help and inspire you with your everyday spending, saving, and budgeting! Click here to download MoneyHero’s 2015 Financial Planner.

Have a fruitful and prosperous New Year!