10 Financial Goals for 2021 Worth Accomplishing

A person putting some coins in a pink piggybank

Roughly a quarter of all Americans invest in some form of financial planning. But as 2020 showed us, having adequate savings and a solid budget is important when the unexpected hits. More importantly, bold money goals can position us for greater success in life and deserve our attention. With this in mind, a great New Year’s resolution involves establishing some key financial goals for 2021. A little bit of financial planning can go a long way!

From budgeting, to saving, to investing, there are a number of bold money goals you may want to consider. Investing time and thought into these areas can serve you well not only in the short-term but over time as well. Likewise, showing good stewardship with the resources you have opens up new opportunities for charity. With this in mind, the following are 10 financial goals for 2021 worth your consideration.

  1. Create and Stick to a Budget

It’s hard to achieve any bold money goals if you first don’t know where it’s going. Being informed, according to many financial advisors, is more than half the battle. Therefore, creating a budget and allowing it to guide your spending is a great step in the right direction. In fact, many budgeting apps are available to help. As a general rule, this would be among the most important financial goals for 2021 you should consider. (For more on budgeting apps, check out this Project Bold Life story.)

  1. Develop a Plan to Pay Off Debt Within the Year

Depending on your debt, paying the total figure off within a year could be quite challenging. But as one of your bold money goals, this could be huge. You might begin by tackling the biggest ones first or by reducing the total number of accounts. Think about the freedom paying off your entire debt could provide! Even if this isn’t one of your feasible financial goals for 2021, making all debt payments on-time could be.

  1. Say No to Emotional Purchases

For many of us, emotional purchases pose a big problem. When we’re upset, angry, sad or depressed, sometimes we lower our threshold for making a purchase. While it may not seem much at the time, these impulse buys tend to add up and sink a budget. Therefore, one of the bold money goals you could pursue is to eliminate these types of behaviors. Distinguishing between wants and needs can help you succeed in these efforts.

  1. Create an Emergency Savings Fund

Believe it or not, over half of all Americans have less than $1,000 in their savings account. A fifth of Americans save nothing each year. And half live paycheck to paycheck. When emergency strikes, these individuals are at high-risk, as the pandemic highlighted. Therefore, one of your financial goals for 2021 might be to create an emergency savings fund. Generally, most experts recommended savings to cover 3 months of expenses as a minimum. Even if it takes the entire year, this is one of the bold money goals that’s rather important.

  1. Revisit Your Monthly Expenditures

If money is tight, then you probably have whittled down your monthly expenses to a bare minimum. But even so, it never hurts to explore opportunities for additional savings. At least annually, it’s worth reaching out to various services to see if better payment options exist. Insurance companies, cable providers, cell phone services and others might offer lower rates to keep your business. It never hurts to check in periodically.

  1. Commit to an Investment Strategy

If you already have an emergency savings fund, then investing should be one of your financial goals for 2021. Wise investments allow you to grow your money at a steady rate as the years pass. By using smart strategies such as diversification and proper risk management, you can enjoy effective wealth creation. This not only reduces financial stress but places you in a much more secure position over time.

  1. Maximize Your Retirement Plan

Believe it or not, four out of 5 Americans say their retirement plan is simply to work longer. In light of the unexpected health risks posed by the pandemic, it’s clear this is not a good retirement strategy. Therefore, one of your bold money goals should be to reassess your own retirement situation. Optimizing your retirement investments based on tax policies is strongly encouraged. You’ll be much happier in the long run if you do. (For more on retirement planning, check out this Project Bold Life story.)

  1. Boost Your Present Income

Perhaps, your expenses are under great control, and there’s little changes to make. In this case, bold money goals might involve boosting the income side of the equation. Pursuing additional certifications related to your job might provide opportunities for advancement in pay. You might also ask for a raise or even create a side hustle for extra money. With virtual platforms and remote work, these are among the hottest financial goals for 2021 for many.

  1. Set Up Automated Savings

Like automated payments, you can also set up automated savings as one of your financial goals of 2021. By having money placed in savings immediately, you become less likely to exceed your budget. Likewise, this can help you develop better money habits on your own. As long as you don’t end up spending more on credit, this is a great strategy to consider.

  1. Invest in Financial Education

Roughly, a quarter of all Millennials lack adequate financial literacy to make good financial choices. Understanding this, investing in some financial education should be bold money goals for all of us. The more we know, the better decisions we’ll make. Numerous opportunities exist for finance education, including those offered through online MOOC courses. (Want to learn more about MOOCs? Check out this Project Bold Life story!)

A person calculating their bills on their bed
No matter what your financial situation, it’s always good to have some Bold money goals.

Make 2021 a Year to Remember…For Your Financial Success

For millions, 2020 was a tough year from many perspectives. Many suffered not only health concerns and fears but also unemployment and financial hardship. Let’s hope 2021 will be better in all regards. One way to help ensure this is the case is to create some bold money goals for the year. Consider the above financial goals for 2021 and select those that are most appealing. Make 2021 a year to celebrate for the bold financial accomplishments you made!


Want to make 2021 a better year than 2020? Then check out PROJECT BOLD LIFE: The Proven Formula to Take on Challenges and Achieve Happiness and Success.

About the Author

Through timely and thoughtful articles, the book Project Bold Life: The Proven Formula to Take on Challenges and Achieve Happiness and Success, and other media, we deliver engaging content that educates, motivates and inspires you to live a Bold Life.
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