We’re already in the second half of 2025, where has the time gone?
When I first started PoundWise Journey, I didn’t have a full financial plan, I just knew I wanted to change my ways.
Since then, I’ve made very slow progress, as I expected would be the case. I’ve started budgeting, tracking my net worth, and holding myself accountable by sharing my journey on this blog.
But now I need to actually put a plan together and that starts with setting some realistic financial goals.
I’ve tried to keep them realistic and specific by setting what are called SMART goals (Specific, Measurable, Achievable, Realistic, Time-based). I wanted to do this without putting too much pressure on myself.
So here are the four financial goals I’m setting for myself for the rest of 2025.
My Financial Goals for 2025
1. Reduce my credit card balance to £1,500 by 31st December 2025
With my current balance at £1,850, I’m not aiming to repay the full balance in six months, not while I’m currently on benefits. I want to be realistic on what I can afford.
Reducing my balance by £350 by the end of the year feels achievable without being too ambitious.
If I can go further than that, then great, but for now, I’m happy making steady progress.
2. Clear my Very balance by 31st December 2025
My current balance is only £110. As it’s a small balance, this will probably be the first goal I’ll achieve.
Once the balance is cleared, I’ll have some extra money in my budget each month. With this extra money, I’ll be able to pay more off my credit card balance.
3. Build a £500 emergency fund by 31st December 2025
I’ve never had proper savings before. I’ve had a few hundred pounds set aside at one point or another, but nothing substantial.
Even a small emergency fund would make a huge difference for me, especially if any unexpected expenses came up.
£500 isn’t a huge amount, but it’s almost a month’s worth of expenses for me, which would be a great start towards achieving financial stability.
4. Consistently improve my net worth every month until 31st December 2025
This goal is more about consistency than the numbers themselves. Even if the increase is small, at least it’s still progress.
That means sticking to my budget, avoiding silly spending, and doing my best to avoid setbacks. If I can increase my net worth every month, I’ll feel like I’m on the right path and building momentum.
Final Thoughts
These goals aren’t big or flashy, but they’re appropriate for my current situation. They’re realistic, measurable, and most importantly, they’re achievable.
I know achieving these goals won’t change my life overnight, but they’ll take me in the right direction and give me some confidence moving forward. This is what PoundWise Journey is all about, making small, steady steps that add up over time.
I’ll be sharing regular updates on these goals and the progress I am making. As with my net worth reports, sharing my goals publicly will further motivate me to stay accountable and make more effort to achieve them.
By doing this, hopefully I’ll be able to see even more progress by the end of the year.