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Setting Goals for Your Financial Future

But are they the right goals?


Posted by Sam Bradford on 30/11/2023 @ 8:00AM

Setting goals is an essential part of achieving success in any aspect of life, and this is especially true when it comes to your finances. It is important to have a clear understanding of your financial goals and how to create a plan to reach them ...

A doctor wouldn't prescribe medication without understanding the patient's lifestyle and symptoms! It's the same with Financial advice!

A doctor wouldn't prescribe medication without understanding the patient's lifestyle and symptoms! It's the same with Financial advice!

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I'm a financial adviser myself, so I understand the importance of setting goals for your financial future. Just like a doctor wouldn't prescribe medication without understanding the patient's lifestyle and symptoms, I believe that financial advice should be tailored to each individual's specific goals and needs.

"Why Set Financial Goals?"

Setting financial goals is crucial for several reasons. Firstly, it gives you a clear direction and purpose for your financial decisions. Without specific goals in mind, it is easy to get lost in the day-to-day expenses and lose sight of your long-term financial plans.

Secondly, setting goals allows you to prioritise your spending and make necessary adjustments to reach those goals. Lastly, having financial goals can provide a sense of motivation and accomplishment when you achieve them.

Here it is, step by step:

  • Identify Your Goals

    The first step in setting financial goals is to identify what you want to achieve. This could be anything from saving for retirement, buying a house, paying off debt, or starting a business. It is essential to have a mix of short-term and long-term goals, as well as both financial and non-financial goals.

    Non-financial goals could include things like travelling, furthering your education, or starting a family. Take some time to reflect on what you want to achieve in the next 5, 10, and 20 years.

  • Make Your Goals Specific and Measurable

    Once you have identified your goals, it is crucial to make them specific and measurable. For example, instead of saying, "I want to save money for retirement" set a specific amount and a timeline. This could be, "I want to save £500,000 for retirement in 20 years'.

    Having a specific goal makes it easier to track your progress and make necessary adjustments.

  • Create a Realistic Timeline

    It is essential to be ambitious, but also realistic. Setting unrealistic timelines can lead to disappointment and frustration, which could discourage you from reaching your goals.

    Take into account your current financial situation and make sure to give yourself enough time to achieve your goals without putting too much strain on your finances.

  • Prioritise Your Goals

    It is essential to prioritise your goals based on their importance and urgency. This will help you focus on the most critical goals and make necessary adjustments to your spending to achieve them.

    For example, if you have a goal of paying off debt and saving for a deposit on a house, it is crucial to prioritise paying off your debts first to improve your credit score and make it easier to obtain a mortgage.

  • Create an Action Plan

    Once you have identified your goals, made them specific and measurable, and set a realistic timeline, it is time to create an action plan. This plan should include the steps you need to take to achieve your goals, such as increasing your income, reducing expenses, and investing.

    It is essential to regularly review and adjust your action plan as needed to stay on track.

  • Seek Professional Advice

    While setting financial goals and creating a plan to achieve them may seem straightforward, it can be challenging to navigate on your own. Seeking professional advice from a financial adviser can provide valuable insights and guidance in creating a comprehensive plan tailored to your specific goals and needs.

    A financial adviser can also help you make informed decisions about investments and provide ongoing support and advice as you work towards your goals.

And finally, setting goals for your financial future is crucial for achieving success and financial stability. By identifying your goals, making them specific and measurable, setting a realistic timeline, and creating an action plan, you can take control of your finances and work towards achieving your dreams.

With dedication and a solid plan in place, you can turn your financial goals into reality.

Until next time ...



Would you like to know more?

If anything I've written in this blog post resonates with you and you'd like to discover more about setting goals for your financial future, it may be a great idea to give me a call on 07887 832222 and let's see how I can help.

For regulated financial advice, please visit or for private financial planning with me personally, visit

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About Sam Bradford ...


I have been advising private individuals and businesses as a Financial Planner for over 20 years. I am a Chartered Financial Planner and Fellow of the Personal Finance Society and a Certified Money Coach.

As a Chartered Financial Planner, I hold the highest level of qualification available in the Financial planning profession as well as gaining a masters in Finance in 2021. I set up my own financial planning practice in 2020 to follow my passion of bringing straight forward, honest and easy to understand financial advice to those who need it.

I live in a 400 year old cottage with my husband, 2 dogs (Maia and Greg), 6 chickens and 3 beehives!

I love being outside and in nature and feel right at home digging in the veggie patch or going on road trips to the amazing UK countryside in our trusty camper van! I love being part of our local community and have volunteered as a scout leader for over 15 years as well as being the current President of the Rotary Club of Milton Keynes.

For fun, I also love all things creative from playing my accordion and guitar to painting and knitting! My most recent hobby has been to learn how to ring church bells at our local church (but this is still very much a work in progress!)


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