My 2023 Financial Goals
It feels strange to think we’re in 2023; time is moving too quickly. It doesn’t feel like enough time has passed for me to be writing my 2023 financial goals.
I don’t tend to set resolutions in the traditional sense, but I like to have some goals for the year. Some are non-negotiable things that I need to save for/ do. But others are things I want to do, but it wouldn’t be the end of the world if I didn’t achieve them.
2023 financial goals- savings related
The three non-negotiable based goals are all related to savings, and they’re all things realistically I don’t see any issues achieving.
To begin with, I want to continue our wedding savings and not get into debt. We’ve been saving money every week since we got engaged, and I’ve got a pretty robust plan of how much we need. So we’ve been able to alter how much we save based on our budgets.
Almost all of the big things have been booked and deposits paid, so we know how much they’ll cost. And for the rest of the things to do, my budget should be pretty spot on. This should be good as long as no other big spends come up that we haven’t accounted for.
As soon as our wedding is over, we’ll continue to put the same amount aside as we have been to put towards the honeymoon that we hope to do in early 2024. So my goal here is just to ensure our savings continue so we can pay this off.
Then the final savings-related goal is around the cruise we have booked for September 2024. When we booked, I made a budget for all the different things we’d need to spend on (cruise, excursions, Luke being off work etc.) and then I worked out a savings plan. This year the monthly goal is pretty low, and it creeps up a bit post-honeymoon. But I want to make sure we start well.
Investments and debt
I’ve got a Lifetime ISA to save towards retirement, but I’ve only been putting in a very small amount each week. During 2023 I’d like to make sure I put at least £1,000 into this ISA. And my longer-term goal will be to max the £4,000 savings out each year (but all in good time).
Luke doesn’t have a pension or any retirement savings at the moment. So one of our 2023 financial goals is to set him up with a lifetime ISA (or a pension) so we at least have a starting point. I need to do some more research into the exact right thing to do, but we need to start now!
Over 2022 me and Luke did end up with a bit of debt, including a loan from my nan that helped us pay for our solar panels. The investment was 100% worth it, and I am grateful we could borrow the money interest-free. But I’m not too fond of owing money, especially to family. We’ve been paying it back month by month, but I’d like to pay off at least a third of what we have left during 2023, which is around £3,000.
Other 2023 financial goals
I’ve been in my current job for three years, and my salary has barely changed during that time. I have gone through the process of pitching for a salary increase, but unfortunately, there have been a lot of changes in my team, so the people pushing for those are no longer there. So one of my 2023 financial goals is to increase my full-time salary by a minimum of 10%.
My final financial goal for 2023 is to remember to use cashback more often. I love using Quidco and cashback as it’s free money, but so many times I spend online and forget to use it. So I’m just throwing money away! This is more of a mindset shift I need to get myself into.
What are your 2023 financial goals?
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17 responses to “My 2023 Financial Goals”
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All About Me
Rhian Westbury
Travels and Destinations
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Its great to record financial goals, so you can keep track and motivated. I need to do similar and feel inspired by this post. Thanks Rhian!
I need to remember Quidco too, I signed up a while back and forgot about it. I am hoping at some point this year that I will have my finances back on track again, I have almost paid off my last credit card and plan to start saving.
I need to put a post-it note on my laptop just to remember haha x
I haven’t used Qiodco for a long time, I do use Honey which will look for any discounts at the check out.
We will continue to save as last year, we don’t have any new goals other than paying our mortgage off early.
Weddings are expensive and ours is coming up this year so my goal is to have a not so expensive one to be able to save money still. My goals for 2023 is consistent to save money, at least 20 percent of my salary.
That’s a great goal to have. We’ve had 3 years to save for our wedding so we could spend a lot less but I just want to not get into any debt due to it x
Always a great idea to set goals & calculate how much you will need ahead of time so you don’t make yourself overly strained trying to save money.
Love all your financial goals! They match some of mine as well!
Great goals to keep in mind for the New Year! Mapping out a plan is a great way to stay on track.
I am still to make my financial plan for 2023. But it will definitely involve savings, as well as a focus on passive income. 2022 has been a struggle, showing my that things can come out unexpected, so having savings is so important, to soften the blows.
I love how organised you are and already planned your 2023 financial goals. I’m reading up on the Lifestyle ISA as I am self employed as well hence hope to get this started this year
It’s a great way to keep you saving long term for retirement x
I didn’t know about Quidco I have to check this out. Our financial goal is the same like last year to savings as much as we can.
Love these and really want to set some goals out myself . I still haven’t done my tax return , I’m not organised this year at all!
You financial posts always inspire me, I love that you have such a good relationship with money and you’re able to save a little each week to pop into various pots. We got married last year and have still got so much wedding debt to pay off; I definitely wish we had done it your way and contributed to the fees every week.
Thanks so much for this finance inspiring post, I will also set a finance goal this year for myself after reading here. Cheers Siennylovesdrawing.wordpress.com