One thing to be sure of is to set financial goals to help take control of your money that leads to healthier finance in 2021.



Although this year seems to make us realize more the fragility of life, we should continue to live with a clarity of purpose in mind.  

And that goes also for our financial life. We don’t know what 2021 may bring, but uncertainty, unpredictable things, and opportunity surely await us.  

Are you struggling with the economic setback, getting laid off, paying off debts, or health issues this year?

One thing to be sure of is to set financial goals to help take control of your money that leads to healthier finance in 2021.

You can start with simple goals as in the following. So let’s take a look.  


11 Financial Goals for 2021

These are simple goals you can easily adjust into your own financial condition whether you are single, already married, or are preparing to get married.  


#1 Make A Financial Plan

Do I need financial planning? Isn’t that just for those who are rich?

Financial planning is for everyone who wants to achieve their financial goals.

Money needs direction like a ship needs a compass or a GPS for a driver to know his customer’s position.  

Financial planning is a guide that helps make your goals, and financial dreams come true.

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You will waste more time, energy, and money without a plan. But with a plan, you can save more of them, and accelerate the process.  

The truth is you can’t buy the time that already passed.  

To start to make a financial planning now if you want to have a financial well-being, and a prosper condition of finance.

It is true that money is not everything, but the way you manage your money will influence your life.  

I don’t know how to make a financial plan. So how to easily make one? If that’s the case simply download Aplikasi Finansialku to plan your finance easy, and fast.

Besides prepared financially for an emergency or unpredictable situation, a person who makes a financial planning can avoid having too many debts especially consumptive debts.  


#2 Create A Monthly Budget

The first simple step to take is making a monthly budget. The budget is like a picture of places where you’ll spend money in a month.

It is a plan on where, and how much to spend. A budget will give you control of spending since it gives you a priority on items you need.

It keeps you from spending more than what you’ve set in the budget.

It should cover your primary needs monthly, such as groceries, meals, transportation, and housing.

You can write it down in a small note or use Aplikasi Finansialku for fast, and easy calculation.

Try this portion of budgeting 40/30/20/10 budget where 50% of your income goes to after-tax income on necessities, a maximum of 30% on saving, investment and debt repayment.

And a maximum of 20% on wants, and 10% for religious or charity purposes.


#3 Record Your Daily Spending

The next step after creating a budget is to write down daily spending.

At the end of the month, you’ll be able to identify unnecessary spending and know if the expenses are beyond the budget.

Problems in daily bills can affect the cash flow that it can get you caught in debt.

Therefore, even when you earn a lot of money, you still need to make a budget, and record daily expenses to control your cash flow.


#4 Cut Spending

Buying daily drinks, snacks, online shopping, online food orders can be very tempting especially during the pandemic, and add up quickly to spend. Some can’t avoid this impulse buying during the pandemic.

Imagine if you spend Rp 25.000 for 4 times a day, in a month your spending of these small expenses will be Rp 3.000.000. Isn’t that enough to buy a smartphone?

Therefore, with a budget plan, and daily expense record, you’ll spend less, and be able to cut down minor or consumptive purchase.

Thus save more money for your long term goals.


#5 Prepare for Emergency Fund

Have you ever been in an emergency that forces you to borrow money from a relative or friend?

In a time like this, the Corona pandemic has triggered people to panic buying. Many institutions are still closed.

And some people get laid off from the job. In this difficult time, where more uncertainties exist, it is wise to prepare for emergency funds. 

Emergency funds serves as protection for your finance in urgent situations such as accidents, health problems, job loss, or recession.

The ideal amount of emergency fund is a total of 6 months of a monthly income for single, and a total of 9 months of a monthly income for a married couple.

Keep the money in a place that is safe, liquid, and can be converted into cash quickly. You can choose a saving or deposit accounts, mutual funds in the capital market, or gold.

The purpose of these investment products is to keep the liquidity in the short term period, rather than to increase your wealth.


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#6 Buy An Insurance

Imagine if you were diagnosed to have a critical illness, and it took hundreds of million rupiahs for the treatment?

It must cause a financial loss if you didn’t have insurance.

Or say that you get laid off from a job, and can no longer support your family financially. It must cause financial loss for both you, and your family.

Anyone of us isn’t immune to this unpredictable situation.

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Having insurance – health, life, and critical illness insurance – will protect you, and your family from adding or having debt, or any financial losses.

If you are already married, you need to buy life insurance, health insurance, and insurance for serious illness.

But if you are still single, health insurance or insurance for serious illness is highly recommended.

Even if your office already covered for health insurance for example, in most cases the money still isn’t enough, especially for critical illness or if you resign or get laid off.

Buying health insurance, and critical illness insurance, therefore, is a wise decision. 


#7 Pay Down Consumptive Debt 

Having too many consumptive debts can lead to financial loss or bankruptcy.

Get rid of this debt as soon as possible can help improve your financial health in 2021.

How much is your monthly installment this month? How much is the ratio compared to your income? Ideally, you can use equal to or a maximum of 35% of the income to pay the installment.

If you want to get out of consumptive debt faster, one of the ways is to pay more than the monthly installment.

By paying down your bill more, chances are you’ll save on the interest during the period of the loan. 

As inflation each year will reduce the value of your money, the sooner you pay the bill, the better for the cash flow. It’ll give you more chances to pay off other bills even to save, and invest more.


#8 Add No More Debts

Try as much as possible to add no debt. Why? Because your capability to reduce the bills will decrease, especially if you already have many credit cards with high interest.

It is a recipe for a crisis in your finance, particularly if you have a minimum wage. You’ll make the cash flow vulnerable.

Indeed, this part takes more discipline


#9 Start Saving

If you haven’t had any savings, start opening a saving account. You can use equal or more than 20% of your total income for saving each month.

And it should serve your long term goal. You can put the money in a deposit account, physical or digital gold, mutual funds, or stock such as dividend-paying stock.

Opening deposit account is a conventional way that enables you to save money in the long term. To get a higher return with relatively low risk, open a deposit with compound interest.

Usually, it takes a minimum of Rp 10.000.000 to open a deposit with a compound interest with a rate that varies for each bank.


#10 Add Income

Having a passive income in 2021 can be helpful financially during the Covid pandemic.

Small businesses such as catering, tutoring, or drop shipping for medical items are works from home that can cover your monthly expenses.

Having other streams of income besides active income, will help you grow your income, maintain the cash flow, and give you enough income when you are retired.

In the long run, passive income can give you the financial freedom you dream of. 


#11 Start A Healthy Living

Exercise, having balanced nutrition, consume vitamin, and supplement, and maintain enough rest, and effective stress management are some simple steps to maintain your immune system, and mental health.

Include health items into your budget list priority. And also try to buy some insurance to protect you and your family.


#12 Some Questions to Evaluate Your Finance

Now that you have these goals in mind, you can also evaluate how you have been managing money along 2019 to improve parts in your personal finance to help make a better decision. Here are some questions to ponder.

  • How is my financial condition in 2019? Is it healthy?
  • Have I met the short term needs this year?
  • Have I met the mid, and long-term needs? And
  • What are parts of my finance that need improvement?


To help you answer these questions, download Aplikasi Finansialku to find out your financial health.

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We need financial goals to make the money work effectively in reaching our financial dreams in 2021.

Simple, and clear goals, as well as good planning, and discipline help us make better, and informed decision financially in 2021.


Hopefully this article helps you set your financial goals, and plan better for next year. Don’t forget to tag those who also need this insight.




  • Miriam Caldwell. July 20, 2020. 10 Financial Goals for the New Year. –