Reaching your financial goals: 3 simple tips...

Practical Advice to Build a Stronger Financial Future…

Whether you're saving for a house deposit, investing for retirement, or building a buffer for life’s curveballs, most of us have financial goals we’re striving to achieve.

The real challenge? Following through. We often start with the best intentions, but life gets busy, priorities shift, and motivation wanes.

In fact, research by ASIC’s Moneysmart found that while more than half of Australians set a financial goal for 2025, only 1 in 8 (12%) managed to stick with it.

No matter what your goal is, these simple tips can help you stay focused and make steady progress.

Tip #1: Set a SMART Goal

Vague goals like “save more” or “spend less” are easy to ignore. A SMART goal—Specific, Measurable, Achievable, Relevant, and Time-Bound—gives you a concrete target and a clear path to reach it.

Instead of saying, “I want to save for a house,” try: “I’ll save $20,000 for a house deposit by December 2026 by putting aside $300 each week.”

SMART goals help clarify your intentions and make it easier to stay on track.

Planning ahead also matters. Think about potential roadblocks—unexpected bills, social events, or seasonal expenses—and factor them into your plan.

Once your goal is set, automate your progress where possible. Set up regular transfers to your savings or investment account to make contributing effortless.

While automation can support consistency, make sure the tools you use align with your risk profile and financial goals.

Tip #2: Track Your Progress

One of the best ways to stay motivated is to regularly track your progress.

According to the American Psychological Association, people who monitor their goals—whether it's weight loss, quitting smoking, or financial savings—are significantly more likely to succeed. Frequent tracking was linked to higher success rates.

The lesson? Regular check-ins help you stay engaged, quickly identify any setbacks, and make timely adjustments.

Use whatever method suits you: a spreadsheet, a simple notebook, or an app that visualises your progress. The key is to build it into your routine.

Tip #3: Stay Flexible

Even with the best planning, life happens. You might face unexpected expenses, shifts in income, or other competing priorities.

Flexibility is essential. That might mean reducing your contributions temporarily, extending your timeline, or reassessing your approach.

What matters most is continuing to move forward—even if progress slows. Small, consistent steps still add up over time.

Rick Maggi CFP, Financial Asdvisor Perth, Westmount Financial