Let’s face it — most of us kick off the year feeling pumped about our finances. You might jot down ambitious money goals in January, only to forget about them by midyear. But if you’re serious about building real wealth and achieving financial freedom, it’s not just about dreaming big. It’s about setting clear, meaningful goals — and taking action consistently, even when life throws curveballs.

In this guide, Andrew Baxter shares a proven approach to setting financial goals that stick. You’ll discover how to stay focused, build momentum, manage risk, and keep moving forward — no matter what.

Discover What Money Really Means to You

Before diving into budgets or savings plans, take a step back. Ask yourself: what does money truly represent in your life?

• Is it security? Like a paid-off home, a healthy emergency fund, or peace of mind?
• Is it freedom? More time with family, the chance to travel, or launch your own venture?

When your goals are tied to personal meaning, staying motivated becomes easier — especially when progress feels slow. Challenge old beliefs too. If you’ve been telling yourself, “I’m just bad with money”, flip that narrative. You can be the person who sets — and achieves — financial goals with confidence.

Start Small, Win Big

Setting huge goals is inspiring — but if you’ve faced financial setbacks, starting small helps rebuild momentum. Micro-commitments are powerful.

Try things like:

• Saving $20 each week automatically
• Paying down one specific credit card
• Setting up your first recurring investment

These small wins add up. Each one gives you confidence and builds the habit of following through, setting the stage for bigger milestones ahead.

Make Your Financial Goals Specific and Measurable

Vague goals like “save more” or “invest smarter” won’t get you very far. Instead, define your goals clearly.

Here’s how to do it:

• Be specific: “Save $50,000 for a home deposit in 5 years”
• Break it down: That’s $10,000 per year, around $833/month
• Create a system: “Auto-transfer $208 every week to savings”

Clear, measurable targets help you stay on track — and turn goals into action.

Track Your Progress and Forecast the Future

Seeing your path mapped out can be incredibly motivating. Use simple tools or calculators to project where you’ll be in 5, 10, or 20 years based on current savings and investments.

Ask yourself:

• How much will my portfolio grow with consistent contributions?
• Am I on track for retirement or major purchases?
• What adjustments can I make now to improve outcomes?

Whether the numbers excite or concern you, forecasting gives you clarity — and a chance to course-correct early.

Review and Refine Regularly

Even the best-laid plans can drift without check-ins. Set regular financial review points to stay on course:

• Weekly: Track spending and income
• Monthly: Review savings and investment growth
• Quarterly: Assess goal progress
• Annually: Reflect, reset, and plan ahead

Frequent reviews help you fix issues fast — whether it’s underperforming accounts or shifting interest rates.

Understand Your Personal Risk Tolerance

Your comfort with risk plays a huge role in shaping your financial strategy. It varies depending on age, life stage, and mindset.

In your 20s or 30s, you may lean into higher-growth strategies. As responsibilities grow — mortgages, kids, retirement — your appetite for risk might change.

Be honest about your risk profile. If you’re managing money with a partner, align on a strategy that suits both your comfort levels.

Celebrate Milestones Along the Way

Reaching money milestones doesn’t have to be boring. Celebrate wins to stay motivated! Whether it’s a fancy dinner, a weekend escape, or buying something special — you’ve earned it.

Sharing the moment with friends or family makes it even more rewarding.

Don’t Wait — Start Today

Time is either working for you or against you. Delaying financial planning doesn’t just cost you money — it costs you opportunities. The best time to start was yesterday. The second-best time is now.

And if you’re unsure where to begin, don’t go it alone. A licensed financial adviser can help you create a custom strategy, set achievable goals, and stay accountable.

Ready to take control of your financial future?

Visit www.wealthplaybook.com.au for free tools, expert guides, and Andrew Baxter’s best-selling book packed with practical strategies you can start using today.