30 Mini Money Goals That Massively Improve Your Finances
Big financial goals can seem daunting.
But what if you focused on small wins instead? If you’re more of a step-by-step kind of person (who isn’t?), these mini money goals are for you! Celebrate your milestones – they lead to massive wins over time.
And these small wins deliver outsized results.
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30 Small Micro Goals That Lead to Substantial Wealth
And can change your entire financial life!
1. add $500 to your emergency fund
Instead of shooting for thousands, start with $500. Break it down even further by saving $10 a day. This addition is doable and can protect you from unexpected expenses that would otherwise throw you into debt.
2. Increase your savings by $10 each month
Instead of writing out an extreme budget you won’t use, try just saving an additional $10 a month. By the end of the year, you’ll be saving $120 extra per month!
3. Automate a Monthly Transfer
The best way to ensure you save is to automate it. That way you pay yourself first! Automate a $50 (or more!) monthly transfer from your checking to your savings account.
4. Sell 3 Unused Items This Month
If a garage sale seems too much, start selling just 3 items in the next month. Online marketplaces like Facebook make this easy!
5. Pay $1 more toward debt
Each week, set aside $1 extra dollar to pay down debt. You won’t even miss this from your account and it will add up to quicker payoff over time!
See more for debt paydown: Free Debt Trackers or The Best Strategies to Pay Down Debt Quickly
6. Set aside a no-spend day Every Week
Make it once a week or once a month, but during this day you find free activities to do. Before the day ends, put the money you saved into your savings or debt paydown efforts.
7. Save a Portion of Any Windfalls to Invest in Yourself
Saving a portion of bonuses, tax refunds, or unexpected gifts can be a game changer for your financial future. By setting aside that extra money to invest in yourself, you’ll turn temporary financial gain into lasting value.
Invest in:
- further education and skill-building
- building a side income
- your long-term health
See the best tips for managing a financial windfall.
8. Switch to a high-yield savings account
Switching to a high-yield savings account allows you to earn better interest on the money you are already saving.
9. Skip 1 takeout meal per month
Skip the takeout one night, then deposit the saved money into your savings account. It’s an easy way to cut unnecessary spending without feeling too deprived.
Related: How to Eat Out Less
10. Increase your 401(k) contribution by 1% this year
Increase your 401(k) contribution by 1% to significantly boost your retirement savings over time, thanks to compound interest and potential employer matching.
It’s a small change that adds up in the long run.
11. Commit to a 30-day cash-only challenge
This forces you to be mindful of your spending. When you physically see the money leaving your wallet, you’re less likely to overspend.
12. Set a Mini Goal to Learn Each Day
Regularly consume articles, books, podcasts, or videos that help you get ahead financially. But, don’t stop there. Make sure you apply the things you learn to your own financial situation. Over time, these small wins will be the reason you’re wealthy!
13. Find More Money Hidden in Plain Sight (& Then Save It!)
Take the hidden cash challenge! You’ll find all sorts of money you didn’t realize was there. Things like:
- Transferring credit card cashback to savings
- Selling unused gift cards
- Collecting and redeeming grocery store loyalty points.
14. Negotiate one bill each quarter
Negotiating bills like cable, internet, or phone services every few months can lower your monthly expenses. If negotiations don’t work, switch to a cheaper provider.
15. Track Your Finances
You’ll never know if you live below your means if you don’t track your monthly cash flow. So, set a mini money goal of sitting down once a month (or week) to:
- review expenses and cash flow
- pay bills
This helps you stay on top of spending, identify areas where you can cut back, and avoid late fees from missing payments.
16. Monitor Your Net Worth
Keeping an eye on your net worth gives you a clear picture of your financial progress. Once you see your assets and liabilities at a glance, you can make better decisions, and adjust your spending and saving habits accordingly.
Grab the free digital net worth tracker >>
17. Create a Sinking Fund
Irregular expenses pop up. But did you know that you can plan for them?
Use a sinking fund to help you save ahead for things like:
- A car maintenance fund
- A baby fund
- Kids activities and school fees
Learn more sinking fund categories >>
18. Use a Money Saving Game or Challenge
Short money games and challenges are small wins that boost your wealth and mindset. Try the 5 in 5 challenge, it’s 5 days of swinging for the fences. And you’ll be stunned by how much progress you can make!
19. Cut one subscription service per month
Eliminate just one subscription each month, whether it’s a streaming service, magazine, or app, and you’ll see immediate savings. Then, redirect this money into your savings account to build your financial cushion without feeling much of a pinch.
20. Start Investing (Or Become Regular at It)
Make your next micro-money goal to invest! Consistency is key and it enables you to take advantage of the concept of dollar cost averaging.
Dollar-cost averaging involves regularly investing in the same stock or fund over time, which can lead to better returns than market timing. You’ll buy fewer shares when prices are high and more when they’re low, often resulting in a lower average cost per share.
Related: How to Invest Your First $500 & Warren’s Buffett’s Investing Checklist
21. Make coffee at home One Extra Day
Even small daily purchases add up, and brewing at home can cut these costs while still allowing you to enjoy your favorite beverage.
22. Automate your bill payments
If you struggle with paying bills on time, this is a must-do mini money goal.
Late fees can chip away at your budget. Automating payments ensures bills are paid on time.
23. Start a side hustle for 1-2 hours a week
Even dedicating a small amount of time to a side hustle can generate extra income, which can be put directly into savings or used to pay off debt faster.
24. Set a $50 grocery challenge for a week
Challenge yourself to spend just $50 on groceries this week. This will force you to plan meals, use what’s already in your pantry, and eliminate unnecessary purchases—giving your budget a nice boost.
25. Use only cash for Your Fun Money
At the start of each pay period, determine how much you will spend randomly and withdraw that amount in cash. By limiting yourself to a set amount of cash, you create a physical barrier to overspending.
26. Refinance a high-interest loan
Refinancing can lower your interest rates, which means smaller payments and more money saved over the life of the loan.
27. Set Yourself Up to Succeed
Make small changes like deleting shopping apps or unsubscribing from marketing email. Reduce any temptations to make impulsive purchases, so you keep more money in savings.
28. Apply The 48 Hour Rule
We all come across things we want to buy. And, it is easy to give in to these whims. So, introduce a 48-72 hour waiting period. Often, you’ll realize you don’t really need the item, which leads to instant savings.
29. Plan Your Meals for a Week (or Month)
Meal planning minimizes food waste and reduces the temptation for costly takeout, helping you stick to a budget and save on groceries.
Related: How to Meal Plan for a Month
30. Get on the Same Page With Your Partner
When both partners align on financial goals, it’s easier to avoid unnecessary spending and make smart decisions. Working together helps streamline savings efforts.
Check out how to talk with your spouse about money >>
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