Financial and Personal Goals for 2014

I have never been good at setting goals. I used to be one of those people who would get a lightbulb moment and be like “Ah, what a great idea, I have got  to do it!”. I have never written down any of my goals, let alone tracked my progress. I also don’t think I have ever set a time limit to complete my financial goals by (becoming debt free has to be the first one). Somehow, though, I managed to accomplish most of my past goals despite being fairly disorganised at goal setting.

I have come to realise that I want to be better organised and more efficient at reaching my goals on time. This is why I came up with a list of personal and financial goals for 2014 which you can see below. I want more structure and discipline. My goals are realistic as I think it is important they are – I don’t want major disappointments which could potentially discourage me from achieving my goals. I will be reviewing my progress (and adjusting my goals accordingly if needed) every 3 or 4 months  which seems to be a reasonable time frame.

Okay, here is a list of my goals for 2014, both financial and personal –


  • reduce my living expenses to 50% of my basic take home pay and allocate another 50% to debt repayment (I currently live off 57% of my basic take home pay and allocate 43% to debt repayment)
  • save any bonus or commission that I earn (payable on top of my basic salary and at the discretion of my employer) as well as any extra income that I manage to generate (i.e., selling unwanted items). These savings will be equally divided between my travel and emergency funds.
  • pay off at least £6,000 in principal debt and reduce an interest rate as much as possible (an interest rate on my personal loan is 15.9% APR and I am looking to get it reviewed in March 2014). However, it would be great to pay off ALL my debt by the end of December 2014 and become debt free!
  • increase my basic income by at least 8% (promotion? salary review?)
  • join my company’s pension scheme and get my pension contributions matched (I have been postponing this one for a number of reasons, but I feel like I want to start a private pension fairly soon).
  • keep track of my spending on a monthly basis and aim to have at least 8 no spend days each month
  • spend no more than £1250 a year on groceries and £550 a year on entertainment (excluding travel).
  • continue transferring £50 a month to my Grandma but aim towards £100 a month (perhaps when I get a salary increase?).


  • travel to at least 5 countries I have not been to yet. Plan two more trips (one in May and one in August/September).
  • declutter completely – sell or donate items that are no longer required. Do not buy any new things or items of clothing unless absolutely necessary.
  • brown bag my lunch to work at least 4 days a week. It will be nice to occasionally (once in two weeks?) have lunch with my colleagues (spend no more than £5 on lunch out).
  • eat healthily and exercise regularly – jogging or a DVD workout at least 3 times a week. Maintain my weight of 58 kg (9.1 st) which I consider to be my healthy weight (I’m 171 cm tall in case you’re wondering).
  • continue cooking at home from scratch and learn one new recipe every month.
  • continue reading personal finance books and aim to read at least 2 every month.
  • keep positive, hopeful and grateful. Do not stress over and worry about things outside of my control (something that is not always easy for me).

This is it – the best I could do! Not too bad for a beginner in goal setting like me, don’t you think? 😉

Have you set any goals for 2014? What are yours? 😉

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  1. Love this list! It’s great you’ve been able to accomplish a lot, even though you say it’s been a disorganized process. My goals are to make at least $200 a mo in extra income (hoping for more, but being realistic), continue to practice learning languages, pay off at least $12k in debt, travel to Iceland (again) for 30th birthday, and continue improving on all fronts.
    Dear Debt recently posted…Dear Debt letter from Bee Debt FreeMy Profile

  2. I love reading about other people’s goals for 2014. I’ve yet to sit down and do mine because I’ve been so swamped this month…and probably next. But that’s OK because it’s brining in a lot of income. I’d like to save more for retirement. That’s definitely on the list. I’m jealous of your goal to travel to 5 countries. Aside from a short trip to Iceland, there won’t be much travel in my 2014 plans.

  3. Great goals, Eva! I like how your living expenses/ debt repayment ratio is attainable, too, since you’re fairly close to that metric but you want to improve even further! That is so kind of you, as well, to help out your Grandma – I’m sure she appreciates it. Best wishes with 2014, you’ll do awesome! 🙂
    anna recently posted…2014 Goals/PlansMy Profile

  4. Great goals Eva! Very inspiring 🙂 I really like the goal of the pension contribution. It’s important to think about those ‘down the track’ things! This year one of my financial goals was to get my superannuation sorted out (it was all over the place, in many different funds) and a tedious pain to sort out but I did and now my balance is looking FAR BETTER! I also REALY love the goal of 8 spend free days per month ….I might borrow that idea for my 2014 goals too! The spend free days really add up, and make a difference. I love making new year resolutions and goals…I didn’t reach my goal of debt free but when I looks at the other things I achieved in 2013 I’m pretty pleased 🙂 Thanks for an inspiring post…..your blog will help me get my debt smashing mojo back I’m sure 🙂
    Elesha recently posted…Pause on bloggingMy Profile

    1. Aw, thanks so much for your comment, Elesha! I’m glad that 2013 has overall been a very good year for you and you’ve managed to regain your balance! What a year it has been! 😛 I hope 2014 will be an even better year for you and you will start blogging about your journey again! I also hope 2014 will be the year when we both become debt free!! How amazing would that be? I can finally see the light at the end of the tunnel 😉 Have a wonderful Christmas, friend! xo
      Eva @ Girl Counting Pennies recently posted…Financial and Personal Goals for 2014My Profile

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