As the second instalment in my ‘Goals for my Twenties’ series, I’m going to put together a list of financial goals I would like to achieve. These mostly consist of various saving techniques and financial milestones I would like to reach in the next few years.

Some of the smaller financial goals I would like to achieve are:

  • to own and insure my own car, potentially even a car which isn’t second-hand!
  • land a job loosely in my chosen field (with a relatively good wage)
  • save enough to pay for my Masters degree – I’m nearly there with this one

My larger, more complex financial goals for the next decade are as follows:

Image result for budgetingimage via GNS Group

Budget – firstly, I would like to put together a spreadsheet when I first start earning a steady wage. Since I’m still a full-time student, I have only ever had part-time employment. Once I am earning a decent amount, I’d like to create a proper budgeting tool which incorporates everything so I can keep track of my spending. Hopefully this will help me meet some of my savings goals.



Image result for credit cardsimage via The Telegraph

Credit Card – This is step I’m already in the process of completing. I applied for my first ever credit card about a month ago because I need to build up a credit score. Since I’ve always had debit cards, my credit score is non-existent. I’ll pay my phone bill out every month and obviously pay on time so when I come to apply for a mortgage I will be able to prove to the bank that I’m a reliable candidate.



Image result for first house savingsimage via Hello magazine

Help to Buy – speaking of mortgages, I’ve also enrolled in the Help to Buy scheme which is offered in the UK to help first-time buyers with their deposit for a house. The premise is that after you’ve saved up some money, the government will pay a bonus of £50 per £200 saved, up to a limit of £3000. So basically, you can save £12,000 and then the government will boost it to £15,000 and then hurrah you have a very decent house deposit! I’ve been paying in for about three months now, and hopefully I will continue saving even after the maximum contribution and will make inroads into buying my own property! If you’re interested, here is some more information about the scheme.




Image result for buy a homeimage via Michelle Phillips Real Estate

Save enough to buy a property – this is a far-fetched dream but I really want to own a property without a mortgage before I’m 30. Yeaaaaah, I know, very unlikely in the current climate. But if I work my arse off/sell a million copies of a bestselling book one of my first movements will be to buy a house- or a castle! More achievable, perhaps, is to own most of my own property before I’m 30. I will probably have to get a mortgage, but just not renting would be an achievement.



Image result for savings accountimage via Emaze

Organised Savings – by the time I’m 30 I would like to have separate savings accounts for the following categories:

  • retirement
  • emergencies
  • travel
  • buying a house
  • wedding/children
  • fun!

This may seem excessive, but if you place savings into a hierarchy there is no reason for it to be overwhelming. For example, £10 a week could go into the house fund, £30 a month for travel and so on – designate which areas are most important for you and your future and invest in them.



That’s all for now, sorry if this post was a little dry! I find this kind of thing fascinating because I’m a forward-planner to the extreme and I like to set myself goals. If you have any financial goals of your own, feel free to let me know. Also I hugely encourage you to leave any tips for me! I know my goals are a little steep, but it’s great to have something to aim for.

Don’t forget you can follow me on twitter and instagram if you’re missing me between blog posts.

Posted by:MJ

20, studying at UEA in Norwich

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