Are you trying to choose financial goals for a new year? These financial goals for 2022 can help you choose something for your own list.
This financial goal list is just ideas to inspire you. Maybe you can add one or two to your own goals list for the year! I’ve included a couple in my own financial goals for 2022 and hope this can inspire you too!
Invest In Crypto
Cryptocurrency has an interesting year in 2021 as it became more mainstream and got lots of media coverage.
Previously it had been relegated to smaller segments of the population but now many people have added cryptocurrencies to their portfolio.
A cryptocurrency is a digital or virtual currency that is secured by cryptography. This means it is almost impossible to counterfeit or double-spend. Most cryptocurrencies are also decentralized networks based on blockchain technology – this means they are not controlled by any one source.
With cryptocurrency exchanges like Coinbase giving out Bitcoin sign up bonuses for referrals, many more people have jumped into the world of crypto in 2021. It was a year of massive growth and adding cryptocurrency to your portfolio might be the right goal for the new year.
If you want to invest in crypto in the new year you should plan to start small. Sign up for an account where you can purchase crypto like Bitcoin.
Then do research. And more research. Read from trusted sources and try to understand what you are buying and investing in with cryptocurrency.
Unfortunately there is a lot of hype and gimmicks with crypto so you have to be careful. That’s why learning and doing research is so critical. The more you understand the better your experience will be.
Increase Your Giving
A lot of people are still struggling and your generosity could help them. Increasing your giving is a great goal to work towards at any time.
To accomplish this goal you can choose causes you care about. There are many ways to give money including:
- tithing to a church
- contributing monthly to a charity you care about
- lump sums to important causes
- donating to GoFundMe drives
- sponsoring a child
- creating a scholarship
- giving a huge tip to a server
- random acts of kindness
The list could go on for a while! Hopefully those suggestions give you some ideas of how you can give more money and increase your giving in the new year.
If you are reluctant to give more because you don’t know how it will be used then you can do a couple things. First, you can always check out charities on independent sites like Charity Navigator that rate the use of money collected. And second, you can do the mental work needed to release the money and give without strings or conditions.
This is one of the best and most noble financial goals any of us can work towards.
Ask For A Raise
Asking for a raise is always a great financial task to undertake. Earning more income for the good work that you do can help you financially.
Many companies are now offering employees more money and better benefits because employees have more power.
There is no better time to ask for a raise than now.
There is also a huge reason why you must ask for a raise: inflation. The cost of everything is going up and your salary needs to increase as well. When inflation goes up by 6% but you only get a 1.5-3% raise then you are effectively making less money.
Asking for a raise protects you financially.
Find A New Job
The great resignation of 2021 led many people to quit bad jobs and find better ones. Many people found new jobs or created businesses. I quit my job in August 2021 and it was one of the best decisions of the year!
Right now there are many millions of jobs open. All of these open positions mean employees have a lot of power and opportunities.
Not happy where you are? Chances are you could find a better job with better pay in the new year.
It’s easier to increase your salary by large amounts by getting a new job. Unfortunately most companies do not reward loyalty so they won’t increase your salary as much as a job change will.
When looking for a new job you should customize your approach and resume to have the best chance at good jobs. It’s important to take your time and find the right fit with the best opportunity.
Create A Will
Unfortunately you never know what will happen or when your life will end. That’s the sad reality of life that we will all face. Knowing this means that you should create a will if you haven’t already.
This is a goal that might not sound fun but is important to your family. Creating a will and other necessary documents will help take care of loved ones. It is especially important if you have young kids.
The legality of a will varies by location so you’ll need to do research on what you need to do for this financial goal.
Get Ready For Tax Season
No one likes spending much time thinking about taxes but this financial goal can help you have a smoother experience. Getting ready for tax season before it comes is a great way to
Here are some ways you can prepare for paying taxes next year:
- educate yourself on changes for the new year
- choose help via a CPA, tax software, etc.
- start pulling together documents and things you need
- get organized with your digital items as well as physical
Starting out the new year with a plan for staying organized with your tax stuff will make the process easier. If you have an uncomplicated tax situation this is much easier. If you have a more complicated return then this is critical and definitely a goal to pursue.
Deal With Your Money Emotions
Money is emotional. It creates many strong feelings within all of us. Those feelings can lead to unconscious and conscious behaviors like overspending, impulse spending, over saving and more.
Many personal finance gurus forget to talk about money emotions. Instead they only focus on the numbers and the math. This leads many people to quit budgeting and never progress financially because they struggle to understand why they can’t stick to the math.
It’s because your money emotions affect EVERYTHING!
Dealing with your money emotions is a great goal to set for the new year. This isn’t a goal that is easy to measure but you’ll see many benefits as you continue to work on it.
You can work on your emotions around money by journaling, going to therapy, reading books, doing worksheets and more. The inner work to understand and deal with emotions around money will pay dividends for years to come.
Automate Bill Payments
For most people automating money is the best financial goal. It leads to less stress and fewer mistakes with money. It also means you won’t pay any late fees!
Automating your bill payments also represents a higher level of financial security. When you are struggling with money it is impossible to automate bill payments because you don’t know if the money will be there when the bill is due. Being able to automate bill payments means you have created a budget, organized your money, and feel confident in having your bills paid.
If you struggle with automating bill payments you can try the separate bill pay account method.
With this you simply open another checking account that is for paying bills ONLY. You will never use this account for anything else and don’t even need a debit card attached. Deposit the amount needed for bills every month (with a cushion) and only pay bills from this account. Having the money there means you can set up auto-payments and never worry about not having the money!
Review Your Subscriptions
Do you know how much you spend on various subscriptions every month? Probably not! There are soo many now that most of us have no idea what we are spending.
Set a goal to review your subscriptions and make cuts in the new year.
Check your statements to make sure you’ve found all of the charges. Evaluate if they are actually used or worth the amount you do use them.
You can cut some of these subscriptions to save money and achieve other financial goals on your list. This can be a great thing to add to your financial goals for 2022!
Try A Money Challenge
Money challenges are a great way to make saving money fun.
You are more likely to achieve a money savings goal when you do a structured challenge. It gives you a secure goal with a date in mind and the structure you need to achieve it. You can do a structured savings challenge or even a no spend challenge.
This can really help if you struggle mentally with saving money or getting ahead. It can show you how money adds up quickly.
Here are some of the savings challenges in my shop:
- Saving Challenges Printable Bundle + 80 Savings Tips
- $20,000 In One Year Savings Challenge
- $10,000 In One Year Savings Challenge
- Savings Goal Tracker By Amount Bundle
- $6,000 Roth IRA Investing Challenge Tracker
- 100 Envelope Savings Challenge Tracker
- $1,000 In 30 Days Savings Challenge
- 52 Weeks Savings Challenge Bundle
Financial Goals For 2022
Those are a few financial goals for 2022 that you might want to try. I hope this inspires you to set goals and take action!
Want more financial goal ideas? Check out these related posts:
- 10 Financial Goals For The New Year
- 10 Ways To Take Control Of Your Finances
- 5 Ways to Simplify Your Finances
- 6 Money Tips For Starting A New Job
Mary is the founder of Pennies Not Perfection where she shares her journey to build wealth through online income. She quit her day job in 2021 after she paid off her debt and doubled her 9-5 salary.
Mary's favorite free financial tool is Personal Capital. She uses their free tools to track net worth and work toward to financial freedom.
Her favorite investment platform is M1 Finance, where she built a custom portfolio for free with no fees. She shares her portfolio growth and savings progress every month on YouTube.