Video
February 7, 2025

How To Set Meaningful Financial Goals & Build Wealth with Purpose

Setting Meaningful Financial Goals: A Roadmap to Financial Freedom

Have you ever felt like your financial life is on autopilot—paying bills, saving a little here and there, but without a clear sense of direction? If so, you’re not alone. But here’s the good news: You don’t have to live that way. Setting meaningful financial goals can transform your life and provide the clarity you need to build a future aligned with your dreams and values.

Why Financial Goals Matter

Think of your financial journey like a road trip. Imagine getting in your car without knowing your destination. You’d burn a lot of gas, waste time, and likely end up frustrated. Financial goals serve as your GPS, giving you a clear direction and a sense of purpose. But not all goals are created equal. The most powerful ones align with your core values and the life you envision for yourself and your family.

Step 1: Identify Your Core Values

Before setting financial goals, it’s crucial to understand what truly matters to you. Your values shape your decisions and should guide your financial planning. Take a moment to reflect on what makes you feel fulfilled and alive. Here are some common core values to consider:

  • Security
  • Family
  • Freedom
  • Health
  • Balance
  • Creativity
  • Adventure

Once you identify your top three values, you can start aligning your financial goals with them.

Step 2: Turn Values into Financial Goals

Let’s look at two examples:

Ashley’s Story: Financial Freedom

Ashley graduated with a significant amount of student debt, but one of her core values was freedom. She wanted to make big life decisions without being held back by financial stress. Her goal? Pay off her student loans in five years. By budgeting wisely, cutting unnecessary expenses, and picking up a side hustle, she achieved her goal in four years. Now, she enjoys the financial flexibility she always wanted.

John’s Story: Entrepreneurship and Self-Determination

John’s dream was to own a bakery and be his own boss. His core value of self-determination motivated him to save and invest for his business launch. Even though it required taking on some debt, he stayed focused, and today, he runs a thriving bakery that brings him both personal fulfillment and financial independence.

Step 3: Envision Your Ideal Lifestyle

Once you know your values, think about how you want to live your life now and in the future. Ask yourself:

  • Where do I want to live?
  • How do I want to spend my time?
  • What financial milestones will make me feel secure and fulfilled?

Write these down and get specific. Whether it’s saving for a home, planning for retirement, or funding your child’s education, clarity is key.

Step 4: Break Goals into Manageable Steps

A big goal can feel overwhelming, but breaking it down makes it more achievable. Let’s say you want to save $100,000 for a home down payment in five years. That’s $20,000 per year or about $1,667 per month. If that number feels too high, start where you can and build momentum over time. Small, consistent actions lead to big results.

Your Action Plan

  1. Identify your core values. What truly matters to you?
  2. Set meaningful “right now” goals. How can you align your current lifestyle with your values?
  3. Plan for the future. What financial goals will help you create your dream life?
  4. Break it down. Make your goals manageable by setting milestones and taking consistent action.

victus logo
Mastering Millennial Money
A free guide to help you make the most of your money & control your financial future
mastering millennial money preview
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
arrow