5 Headache-Free Ways You Can Meet Your Financial Goals

Life goals: To be as rich as can be, retire early and spend our days bouncing from vineyard to vineyard in the south of France. But before we can achieve all that, we have to get our financial ducks in a row. (Fun fact: A whopping 87 percent of Americans place a high importance on meeting money goals as a way to achieve prosperity and live the life they want, according to a recent survey by Intuit.) But where do you start? These easy—and straightforward—steps will help you start making moves now.

woman filling out application

First Things First: Spell Out What You Want

Financial goal setting starts with a pretty simple measure: You have to be crystal clear on what you’re aiming to achieve. Knowing exactly what you’re saving for—be it a college tuition fund for your kid or finally eliminating that credit card debt—will help you keep your eyes on the prize. For this exercise, it actually pays to ignore your bottom line at the outset and simply put pen to paper so you can really articulate the goals you’re angling toward. (Don’t hold back.)

woman calculating receipt

Next, Dig Into The Numbers

Now that you’ve mapped out your financial objectives, take a hard look at the nitty-gritty numbers to really determine where you stand. This goes beyond knowing the balance in your checking and savings accounts. You need to calculate your overall financial picture—everything from how much money you’re bringing in to your credit score and debt-to-income ratio. (An online calculator is a good starting point to help you figure this out, or use Intuit’s free Turbo tool, which automatically calculates your debt-to-income ratio, credit score and verified income.)

man and woman on date

Do A Deep Dive Into Where Your Money Is Going

Once you have a grip on your net worth, it’s time to start adjusting how much you spend so you can meet your financial goals. But first you’ll need to dig in to uncover your biggest spending areas. That’s where an app like Mint comes in: Simply link your bank accounts, credit cards and bills, and it will automatically categorize your purchases and then crunch the numbers so you can see exactly where you are spending, complete with color-coded insight on the obvious places you can trim. (Whoa, you spent how much on theater tickets last month?)

woman taking money out of wallet

Don’t Forget To Set Aside Cash For Upcoming Expenses

When setting goals, it’s essential to look at what you have, but you also need to take into account what you might owe down the road. Case in point: You know your car is going to need new tires early next year. Or you might have to pay estimated taxes on a freelance project you took on. (This is where software like TurboTax Self-Employed is a huge help.) It’s all about taking a look at your entire financial picture and anticipating what might crop up on the path to your goals.

woman working on computer

Revisit That Original List Of Big-picture Plans

With a firm grasp on what you want to achieve, plus a clear understanding of your finances overall, it’s time to implement ways to measure your success. What is the time frame for achieving your goals? What do you have to accomplish each month (or day) to see progress? Be as precise as possible in laying this out—for example, spell out that you plan to save $500 each month—but also allow yourself some wiggle room for unanticipated life things. (This is why padding a rainy-day fund is critical.)

Click here for more information about Intuit’s Pursuit of Prosperity study, and join the conversation online! Share thoughts on your pursuit of prosperity with the hashtag #ProsperityForAll.

Rachel Bowie Headshot

Royal family expert, a cappella alum, mom

Rachel Bowie is Senior Director of Special Projects & Royals at PureWow, where she covers parenting, fashion, wellness and money in addition to overseeing initiatives within...