Whether you had unexpected expenses and want to start a side hustle or just want to have more money to put into savings, there are all kinds of
money goals to make in 2019. And, the thing is, whether you’re single or married, managing your money is still something that can be completely in your control. If an overall goal for 2019 is too intimidating, just break up the goal into monthly goals, then weekly and/or daily ones — such as only buy coffee out once a week versus five days a week, and so on. MassMutual recently polled 1,000 Americans (506 women and 494 men) ages 18-45+ and found that 26 percent of women have a New Year’s resolution tied to their finances, and 31 percent said they plan to put money into a savings account. As for why these women have money goals, 17 percent indicated because they want to secure their future and protect the ones they love and 34 percent said they want to be prepared for what life throws their way.
“Budgeting and saving regularly help build good financial habits and puts you on the right track toward a brighter financial future,” Tara Reynolds, head of marketing and business development with MassMutual, tells Bustle.
Below, 17 women reveal their
money goals for 2019, so if you’re still figuring yours out, their ideas are a great place to start to get some inspo. 2 Heather, 26
“I recently made a career transition that resulted in a pay cut; this has forced me to really look at how I spend money and to be more proactive about my financial health. My number one money goal for 2019 is to attack the mountain of
credit card debt I’ve accumulated, head on. At the age of 26, with just over $8,000 in credit card debt, sky-high interest rates, and that recent pay cut, I’ve realized just how expensive credit card debt can be if not managed properly. I’m hoping to pay down my balances to about 30 percent over the next year and to not use any of my credit cards — or any new ones — until I’ve done so. At the beginning of 2017, I set a financial goal, too. My goal then was to save up enough money to open a Roth IRA account. By December of that year, I achieved it, so I am optimistic that I will also see my goal through for 2019.” 3 Stacy C., 27
a blog about money, and one of my personal financial goals is to start investing my own money in more high-return investments, including a high-yield annuity, by the end of the year. I want to invest my money in a high-reward way that will have large returns with little risk, and I like the way an annuity can accomplish this goal in a way most other investments cannot.” 4 Samantha, 32
“I’m married with a baby and we’re really looking forward to buying our own house in 2019.
Buying a home represents a lot of important things — it’s independence, comfort, an investment, and a place to design and decorate exactly as you imagine. Getting onto the property ladder isn’t easy these days, so buying a house also represents a real accomplishment. It doesn’t matter how big or small your house is; what matters is, you managed to get on that first rung.” 5 Kathy, 29
“I have a personal financial goal to save $40k in personal savings and buy a house with my boyfriend. Our 2018 goal was to buy a car, and we just did it last month — in cash!”
6 Ameet, 29
“My financial goals for 2019 are more around my financial goals for my company. We’re very much in our growth phase and I would love to see our revenue double this coming year, which I think is a very attainable goal. In that, I’ll be able to pay myself more and expand our team, too!”
7 Kezia, 22
“I’m a life coach
and an entrepreneur. For 2019, I have to say, I have some very specific financial goals. Firstly, I aim to work with more clients, schedule more appointments, and manage my time more properly. There are a lot of people who need help with self-discovery, self-love, and progressing in life. I aim to put myself on a bigger platform so I can reach out to more of these people.
Also, I aim to create a business to ensure passive income next year. Passive income is the best option, as there is a lot of uncertainty these days with the economy, among other things. With or without clients, I want to ensure that there will be a constant and steady flow of money for me and my family.”
8 Daniella, 29
“I am the creator and author of
iliketodabble.com, a blog about side hustles and creative money tips. Some of the financial goals my wife and I have for 2019 are to pay off our car purchased in August 2017, to sell our house for at least 20 percent more than what it is worth, to save $20,000, and to invest $10,000. I also have a goal to get my side hustle income from my blog closer to my full-time day job income. I would also like to help more with our eBay side hustle that my wife mostly works on; I want to expand what we sell and sell on more platforms to increase that income, as well.” 10 Domenica, 26
“Keep a $0 balance on all my credit cards for the entire year.”
11 Jessica, 22
“I recently read a personal finance book (
) that helped me get my sh*t together … sort of. :) I started my first ‘real’ job about seven months ago, and my primary goal is Refinery 29’s Money Diaries paying back my student loans and keeping better track of my spending by creating a realistic budget.” 12 Holly, 57
“This is the year to get a deeper understanding of details of investing to make informed choices for the future. In the past, it was good enough to just stash it away; now, I want to know what I am paying for and how to improve my overall return by reducing fees. For 2019, I want to: 1) Maximize my Roth IRA. 2) Continue to grow savings outside of full-service brokerage firms. For years, my husband and I used a full-service brokerage firm to get us to our goals. But now, it feels more like ‘set it and forget it,’ so I want to see if I can get the same returns (or close to those returns) of the full-service brokerage without the fees. 3) Understand the intricacies of 401(k) investing. For years, I put as much as possible into my 401(k); it seemed like a smart move. But I began thinking more about it: Will I be paying less in taxes in retirement? Yes, it’s tax-deferred now, but would I do better paying less fees and putting it into my regular investments? At 701/2, will we have a bigger tax burden than if we just kept it in a traditional investment account?”
13 Nadalie, 33
“I’ve set some big goals for myself for the next year — 2019 is my year of financial freedom! I am intending and working toward fully paying off all my debts, including student loans and car payments. I am also looking forward to diverting that substantial monthly amount to my future rather than paying off past decisions. Other financial goals include
increasing my savings contribution for retirement and building up a standing travel fund. As an entrepreneur, it’s been the dream to be able to travel for months at a time every single year, and to no longer have to deal with winter. By paying off my debts, and increasing my savings, 2019 will bring me closer to true freedom in more ways than one.” 14 Amanda, 26
freelance writer that just recently quit my full-time job to go full-time in freelancing. It’s been exciting and unpredictable to say the least! With that in mind, my biggest financial goal in 2019 is to max out my retirement account contributions. In the past, there have always been ‘bigger’ priorities — last year, my husband and I paid for our wedding out-of-pocket and now I’m working on building a foundation of clients to earn more income. My dad has always stressed the importance of making retirement contributions a top priority, but of course, life tends to get in the way of good intentions. In 2019, I hope to grow my Roth IRA and learn more about how to invest it strategically. Currently, it’s invested in a long-term mutual fund, but I’d like to understand how to trade smarter to get the best bang for my buck.” 15 Danielle, 31
“As a new business owner and new mom, I have to be more conscious of my finances more than ever. My main goal in 2019 is to finally develop a strong budget and have the self-discipline to stick to it this time around. I regret
spending my money on frivolous things when I was younger, but now there are lots of goals I have for the years ahead (including buying a home and other investments). I know that they will only be achieved with strong money management now.” 16 Veronica, 39
“My money goal for 2019 is to make a minimum of $300,000. I run a small business and I will be putting all my efforts into marketing and sales to increase my personal income from $300,000 to $400,000. I know it’s an ambitious goal, but I am ready for it and I consider it very attainable.”
17 Ashley, 34
“I run a blog,
Budgets Made Easy, and my goals include saving $6,000 for a kitchen renovation, $1,200 for preschool to pay for the entire year upfront, plus increasing Roth contributions and college funds for three kids!”
If you're looking to set money goals, Reynolds says it's important to see what
money management method(s) works best for you. “For some, it’s helpful to not have cash on hand to spend in the first place,” she says. “Or, you may set a goal to save at least 10 percent of your net income this coming year (check your progress every month to ensure you are sticking to your plan!).” She also says to keep in mind that saving money is a long-term commitment, and even putting small amounts away is a big deal — the money will generate interest and accrue over time.
Even if you just set one or two primary money goals for the New Year, the important thing is that you start setting them at all, then doing all you can to follow through on them. Then, you’ll see the goal pay off — literally — when you have more money in your bank account and less financial-related stress. And those are great goals for the New Year.