Below are goals with practical associated activities for improving your financial wellbeing.

1. Identify the value of notes and coins. Use physical money to purchase goods and services.

Practical action: Practice counting and sorting different denominations of notes and coins. Use them to make small purchases at a local store.

2. Understand the concept of saving money. Set small savings goals.

Practical action: Choose a short-term savings goal, such as saving for an inexpensive item or treat. Set a weekly or monthly savings target and work towards it.

3. Learn about different types of financial transactions. Spend with cash, debit cards, and online payments.

Practical action: Make purchases using different methods, such as paying with cash for some transactions, using a debit card for others, and exploring online payment platforms for online shopping.

4. Be aware of your total spending balance. Track expenses and keep receipts.

Practical action: Start a simple expense log or use a mobile app to track daily spending. Collect and organise receipts to better understand where money is being spent.

5. Open a basic bank account. Deposit and withdraw cash, interacting with staff at a bank.

Practical action: Visit a local bank branch to open a basic bank account. Practice depositing and withdrawing small amounts of cash with the assistance of bank staff.

6. Create a budget. Identify income and expenses.

Practical action: Write down all sources of income (allowance, benefits, etc.) and list regular expenses (such as transportation or snacks). Calculate the total income and subtract the total expenses to understand the available money.

7. Explore discounts and bargains. Compare prices and look for the best deals.

Practical action: Research different stores or websites to compare prices of a specific item. Look for discounts, sales, or promotional offers to get the best deal.

8. Learn about the importance of saving for emergencies. Start an emergency fund.

Practical action: Set up a savings jar or designated bank account specifically for emergencies. Begin by saving a small amount regularly to build up an emergency fund.

9. Understand the concept of needs vs. wants. Make mindful purchasing decisions.

Practical action: Before making a purchase, ask yourself if it is a necessity or a desire. Consider the long-term benefits and prioritise needs over wants when budgeting.

10. Develop a weekly or monthly spending plan. Allocate money for different categories.

Practical action: Divide the available money into categories such as groceries, transportation, entertainment, etc. Allocate a specific amount for each category and plan spending accordingly.

11. Research and compare different insurance options. Understand the importance of insurance coverage.

Practical action: Explore different types of insurance, such as health, home, or contents insurance. Compare coverage, premiums, and benefits to make an informed decision.

12. Set a savings goal for a medium-term purchase. Create a plan to achieve it.

Practical action: Choose a medium-term goal, such as saving for a new gadget or a special event. Determine the total amount needed and break it down into monthly or weekly savings targets.

13. Explore investment options. Learn about basic investment concepts.

Practical action: Research different investment options like savings accounts, term deposits, or managed funds. Understand the basic concepts of risk, return, and diversification.

14. Understand the concept of compound interest. Start a savings account with interest.

Practical action: Open a savings account that earns interest. Deposit money regularly and observe how the interest grows over time due to compounding.

15. Research and compare different banks for better financial services. Consider switching if necessary.

Practical action: Explore different banks and their services, fees, and benefits. Compare them to your current bank and consider switching if a better option is available.

16. Learn about tax obligations and benefits. Keep track of tax-related documents.

Practical action: Familiarise yourself with basic tax obligations and any potential benefits or deductions you may be eligible for. Keep important tax-related documents organised and accessible.

17. Learn about the importance of credit scores and maintaining a good credit history.

Practical action: Research the concept of credit scores and how they can impact your financial life. Understand the factors that affect credit scores, such as paying bills on time and managing debt responsibly. Start building a positive credit history by ensuring timely payment of bills and loans, if applicable.

18. Set a long-term financial goal, such as saving for education or retirement. Develop a plan to achieve it.

Practical action: Determine a long-term financial goal, such as saving for higher education or building a retirement fund. Research and create a plan that outlines the steps needed to achieve the goal.

19. Seek guidance from a financial advisor or counselor. Review and improve financial strategies.

Practical action: Schedule an appointment with a qualified financial advisor or counselor to discuss your financial situation, goals, and seek personalised advice to improve your financial strategies.

20. Continuously educate yourself about personal finance. Read books, articles, or attend workshops.

Practical action: Set aside time regularly to read books, articles, or attend workshops that cover personal finance topics. Stay informed and expand your knowledge to make better financial decisions.

If the above goals interest you, or you would like to create your own goals alongside me, please contact me. I’m here to help you achieve what matters.