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Short-Term Financial Goals You Can Still Crush This Year

If you are like me, this year is moving pretty fast. If you haven’t started on your money goals yet this year, maybe it’s time you set some short-term money goals to get the ball rolling. Short-term money goals are any goals that can be achieved within a one year period. With a good chunk of time still left in the year we can still set some good goals and get some momentum on our side.


If you are looking for more goals to set, or you want longer-term money goals you should check out this post here that covers all of the financial goals you can set and how to achieve them.

Short-Term Financial Goals Quick Link Index

Short-Term Money Goals for Saving


Short term financial goal for saving money boil down to 3 main things.

  1. Pick a goal to save up for.
  2. Create a separate account to put that money in.
  3. Start saving for that goal.

If you are needing some ideas of things to save for here are a few you can use.



  • Start saving for Christmas gifts – Ok I know it’s still nice out, and nicer weather is on its way, but just like Game Of Thrones, Winter. Is. Coming. Start putting away some money to save you from gift pain down the road. You can read more about it here.
  • Open a retirement account. If you haven’t opened an retirment account. You should. The process of opening one up literally takes minutes online.
  • Open up a separate savings account. I’m repeating myself for a good reason. Most of us save thinking “I’ll just keep track in my head”. That has never worked for anyone ever…. Separate your saving goals into separate accounts. The goal can be for whatever you want it to be, travel, gifts, car repairs. Start by putting some extra money away every check so that you have a buffer to help you out when there is a financial pinch.
  • Start saving up to buy a home downpayment.
  • Start saving for your emergency fund.

Short-Term Saving Goal: Start putting extra money away every month for something bigger down the road.


Short-Term Financial Goals for Debt

Debt is like a terrible financial Netflix. You look at this picture and have no clue where to start or how you are ever going to get through it all. With it comes indecisions and then you are likely not to do anything. With debt the best thing to do is break it down.

Here’s some great short-term debt payoff goals.

  1.  Pick a debt to demolish. Either the smallest one, or the one with the highest interest rate.
  2. Put some extra money down on your debt.
  3. Wash, rinse, repeat until that debt is gone and then pick another one.

Short-Term Debt Reduction Goal: Make an extra payment on one your debts (student loan, mortgage, credit card). Then do it again if you can, over and over.


Short-Term Financial Goals for Spending Money

I don’t care who you are eventually you are going to have to spend some money.

When you do spend money, the biggest thing is to be conscious of where your money is going.

Pay attention to what you are spending your money on. Once you do that here are some short-term spending goals you can crush.

  1. Cut your grocery bills (Start using coupons. Shop only from a list. Buy generic)
  2. Cut your transportation costs (Think driving less, maxing points on fuel purchases, or using a co-op to get money back at the end of the year)
  3. Cut your utilities spending
  4. Eliminate bank fees
  5. Cut other spending

Short-Term Spending Money Goal: Start taking a more active role in your spending. Don’t just blindly buy the items you normally get. Look at the prices, compare places. Take the blinders off and start paying attention to what you are spending your money on.


Short Term Money Goals For Investing

Investing is a long term goal, but it’s made up of a few short-term actions. If you can nail these actions and begin to automate them you will be set up for success down the road.

  1. Learn about investing
  2. Decide on one type of investment (stocks, ETF, real estate, small business, etc…)
  3. Open an investing account
  4. Buy your first investment
  5. Start an automated investing program

If you are looking to get started investing you can check out our “How to get started with Wealthsimple” you also get a $50 sign up bonus when you use our link.

Short-Term Investing Goal: Start investing, if you have already started, step up the investing consistently.

Short-Term Earning Money Goals

I believe most people should have a side job.

But I’m not talking about just any side job. I’m talking about doing something you enjoy.

Something that makes you want to stay up late or get up early to work on it a bit. Whether that’s your thing or not here are a few short term financial goals you can set for earning money.


  1. Ask for a raise
  2. Start a side job
  3. Start making money in your free time with surveys
  4. Look for new ways to earn money
  5. Start selling your stuff on Craigslist or other sites

Short Term Finanical Money Goal: Start looking for ways to earn extra money. Make a goal of earning extra every month.


Other Short-Term Goals

Here are some other ones that you can set for yourself. Some of these you can start right away others you may need to make a plan and then get going with it.


  1. Start being money conscious
  2. Start tracking your net worth
  3. Automate your savings
  4. Start a budget
  5. Set up automatic transfers for your budget
  6. Start tracking your spending
  7. Start an emergency fund
  8. Check your credit report
  9. Read a personal finance book


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