Setting your financial goals for 2017

2017 is less than 48 hours away – are you ready?

Everyone seems to make New Year’s Resolutions – are you one of them? Are any of them money or finance related? Before the year kicks off, now is a great time to start making plans for your 2017 financial goals.

Think about what you want to achieve during this upcoming year. Do you want to have made a certain amount of money? What about making a certain amount of money? What are your motivations? Clear debt? Go on a dream holiday? Whatever your reasons – they are important to you and don’t let anyone else belittle them.

My 2017 financial goals

My goals are as follows:

  1. Pay off a loan I have outstanding
  2. Clear my credit card
  3. End the year with some savings

These are nothing major, but I would be so chuffed if I could clear them. My priority is the loan as this is costing me money (currently my credit cards are 0% interest). Your priorities should also be anything that are costing you money. The sooner that is cleared, the sooner I can clear the other ones as well.

My company offers a pay review for all employees in January. I have already decided that should I receive a pay increase, any additional money at the end of the month will be going straight to my loan. Should we receive any bonuses throughout the year that will also go towards this.

My credit card is interest free until May 2018. I have two items of furniture on 0% credit at the moment – both of those will end by the end of 2017. Until then I will keep paying the minimum payment on the credit card but once they are done the plan is to put that money towards my credit card. That will mean that with no increase in salary, I will still be able to clear the credit card before the 0% rate ends. I am hoping the loan will be cleared by then, but if it is not, I will prioritise the outstanding credit card balance as that is going to start costing me money at a higher interest rate than my loan.

Am I jumping around and confusing you? I’m confusing myself to be honest. Whether you like spreadsheets or pen and paper, the important thing is to get all your paperwork in order and write down where you are at and where your goals are. Having someone who you can be accountable to is a real help – whether a friend or a partner. You can check in with each other and they can motivate you (and vice versa).


I really want to get to the end of 2017 with some savings. At the end of the year if I haven’t paid off the loan and the credit card, then I can use the savings towards that. If I have, then I can put it into a savings account. This is something I have not had for a very long time.

I’ve done a lot of research online and I’ve found a fun way to build up savings but without taking too much money out of my daily cashflow. On day one you put 1p into a tin. Day two, 2p, day three, 3p etc. By the end of the year, you are putting £3.65 into a tin. Whilst this doesn’t sound like a lot – in total, over the course of the year, you will have saved almost £700 (£667.95).

If you fancy doing this alongside me, I have created a printable sheet for you to download and use. Each day you can see how much you need to put in, and what your running total is to motivate yourself. If you think you can save more than that. How about trying my Pound a week saving challenge – week 1 you put £1, week 2 £2 etc. At the end of the year you would have £1,378!! Both of these downloads are available here:

Savings Challenge Downloads

Penny savings challenge

Pound savings challenge

Let me know how you get on!


3 thoughts on “Setting your financial goals for 2017

    • VE says:

      Won’t find out about the bonus for a while yet. In the meantime, any extra income still goes towards the loan! ?

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