My Personal Finance Goals for 2025
The Year I Start to Become a Self-Made Millennial Millionaire…
Welcome to my personal financial goals for the new year. I’m so excited to be typing up this post, it’s been a long time coming, to quote our lord and saviour Taylor Swift. Last month, I became debt-free for the first time since I was 18 years old. To enter a new year financially free means everything. I can breathe clearer, I feel lighter and I’m ready to push myself to the next level. My goal is to become a self-made millennial millionaire and I know I’m going to achieve this.
I’ve not always been into personal finance. But reflecting on my past, I grew up watching my dad budget and handling our family’s money. My mum didn’t really have anything to do with the spending, budgeting, etc- or at least from what I saw growing up. It was all on my dad. He also was the one person who showed me how to be an independent woman. I think a combination of being taught to be independent and watching my mum have no idea about the money scared me. I didn’t want that for me.
Taking Wealth Building into My Own Hands.
It took a bit, and a lot of financial trauma (including financial abuse by a previous partner), but this side of me has finally woken up. I want to take control of my finances and chase wealth. I know, it’s gross for a woman to speak about chasing wealth. No, it’s not. That’s the internalised misogyny and the patriarchy telling you so that you as a woman think small.
Do you think men have this shame speaking about money? No, they created mass fields to play golf on in order to do so. Women can chase wealth. Women should chase wealth, particularly in the time we live in. And this is exactly what I’m going to do this year with my personal finance goals.
Tori Dunlap
Financial Feminist
This book changed my life. Thanks to Tori’s book, I got out of debt and entered 2025 financially free. I owe everything to Tori’s advice and it would be wrong to pass on this advice to anyone who needs financial support.
My Personal Finance Goals for 2025.
Building wealth and strong foundations for my future finances is hugely important to me. There are quite a few things I want to achieve this year, all for setting me up for the decades ahead. As I’ve said, I want to be a self-made millennial millionaire, I want to set up generational wealth for my family in the future. Along with this, I want to pass on the knowledge I’ve learnt and am still learning to others. I want to help others achieve their goals. More on this in my personal finance goals later.
So let’s get down to everything I want to achieve and my personal finance goals for 2025…
- Have a Net Worth of £50k by My 35th Birthday: This one I’m so close to achieving, even before my birthday. This is the starting point of increasing my net worth to £100k for next year. They say saving £100k is the hardest of all the saving goals. After that, the rest is easy. In terms of net worth, this will be made up of my pensions, my investments, the down payment for our first home and my emergency savings. Essentially, all of my long-term savings.
- Invest 10% of My Income: This one I’ve also been working my way slowly up to. Currently, I invest 5% of my income into my workplace pension, and they double the match. However, I’d like to aim this year to invest another 5% of after-tax income. I think investing 10% is a good starting point for putting a good portion of my income towards my future. Hopefully, this will put me in a great position to increase this next year.
- Increase My Income: One of the other ways to increase my wealth? Increase my income. I’m going to push for an additional increase in compensation at work, but I’m also looking at how to increase income from your own business (coffee shop) and my content creation. This will help with further achieve wealth and diversify my income to protect it in the future.
Looking Towards the Future.
- Save an Additional £15k for Our House Deposit: It’s been no secret that buying a house has been an ambition of mine for a while. This year, my husband and I hope to make this a reality. We’ve spoken to a mortgage advisor and we’ve got an idea of the number we need for a deposit. In this current economic reality, we need an additional £15k to what we’ve already saved to get something semi-decent. And Boomers think they had it hard. We’ll get there eventually, there’s a house out there with our name on it.
- Gain a Degree in Financial Advice: As I mentioned before, I’m keen to help support more women to gain financial knowledge and take charge of their wealth. It’s comfirmed that in the next 20 years, we’ll see the largest shift in wealth to Millennials, with over 55% of these being women who are going to inherit the most. I’m keep to look at gaining a degree to become a Financial Advisor, so that I can give this advice to women and help with wealth management in the future. My husband and I have been talking about me taking over the accounting for the business, so it’s a new possible career that I’m excited to explore more in the future.
- Save One- Three months of Income into an Emergency Fund: This is another one that is something I want to achieve this year. I’m keen to gain the financial security that I’ve been craving for years and is the perfect step forward to becoming a self-made millennial millionaire. This is a slow goal, it’s not something I can gain straight away. However, I’m very much looking forward to having that security sitting in my bank.
- Fill Up My Sinking Funds: My final personal finance goal, but another one that will work hand in hand with my emergency fund. These sinking funds will always allow me to be prepared with the funds for ‘known emergencies’. I’m talking about emergency vet appointments, beauty supplies, etc. This year is all about preparing towards a rich future.