Financial Planning / setting financial goals / smart financial goals / financial independence

Transform your financial goals from manifestation to action

. 4 min read . Written by Vanshika Goenka
Transform your financial goals from manifestation to action

Writing a letter to Santa is definitely one of the options to make your financial goals come true, but is it a realistic and feasible option?

We know you’re ready to jump into the pool of financial independence and take matters into yoru own hands now. Enough with waiting for the 1st of every month, those appraisals, cutting down on splurging sessions, and being forever confused about investing and budgeting.

This is why we are at your service to help you become not only financially independent but also financially smart with our learning pathway - Finance Pass. The Finance Pass is a 25-week long expert-led learning program to equip with all key strategies and improve your budgeting, investing, tax planning, and saving goals.

Finances take a front seat when you step into adulthood, which is why being financially aware becomes extremely important. Read on to learn about the top strategies to set realistic financial goals.


  • Create a monthly budget
  • Start Investing
  • Build an emergency fund
  • Get into the habit of saving

Financial goals you need to set in your 20s

Stepping into your 20s can be scary (been there, done that) and even scarier when financial independence and financial discipline come into the picture. This is why we have something that can change your relationship with money and help you manage it more effectively.

Following are some ways for you to kick off your 20s the right way with smart long-term and short-term financial goals:

Short-term financial goals

  1. Create a monthly budget

One of the most important things you need to start in your 20s is budgeting. You need to create a monthly budget and divide it into 3 parts:

  • Basic expenses
  • Leisure
  • Savings

You need to write down your expenses on each of these and allot a budget. This will help you be more mindful of how you spend your money and save it. Remember, when preparing your budget, expenses shouldn’t be more than your income.

Budgeting and categorising all your expenses will enable you to spend wisely and leave you with enough money for outings as well.

2. Start investing

Your 20s are the perfect time to start investing. Once you learn how to save and budget your money, investing should be the next step in your financial action plan. This is also the best way to make more money outside of your retirement accounts. Because when you are saving for retirement, compounding interest helps increase your invested money, which means the earlier you begin investing, the better off you will be. Before you invest, be sure to read up on the types of investments and the risks associated with each investment. You can also choose to take help from a financial advisor.

We know investing might seem daunting but it doesn’t have to be and it can be a great way of becoming financially sound in all the ways mentioned above. So, if you decide to take the leap and dive into the investment pool, we have the perfect thing for you. Kool Kanya’s Finance Pass has 8 weeks of session on investing to get you started on your investing journey.

Long-term financial goals

  1. Build an emergency fund

A very important thing you need to do in your 20s is build an emergency fund, which basically means creating a pool of money for unplanned expenses. This money will help you stay one step ahead of unexpected life occurrences or emergencies like a job loss or a medical emergency. In other words, it is your insurance against everything unexpected. In the event of an emergency, this fund will prevent you from using your savings.

How much you can keep in this emergency fund depends on your income, living, and other basic expenses. This emergency fund should ideally consist of 3-6 months of your living expenses. Initially, you need to aim at allotting at least 2% of every paycheck to this fund and gradually increase the amount. You need to ensure that you are able to access your emergency fund easily, so a savings account is your best bet here.

2. Get into a habit of saving

We know your 20s are the time to leave all worries behind and explore, travel, and party to your heart’s content. We are not saying that you should live your 20s like a monk and deprive yourself of all the exploration, because what are 20s without exploration and experimentation? We just want life to be extra fun for you with all that money you will save by being mindful about spending it.  Because ultimately, you need to save to spend. This can be done in the following ways:

  • Record your savings
  • Cut down on unnecessary spending
  • Set financial priorities
  • Make a monthly budget
  • Establish saving goals

A habit of saving goes a long way and will stay with you even after your 20s to help you make financially smarter decisions.

Financial planning is your key to saving money, gaining financial independence, and being more in control of your money. This will help immensely in boosting your confidence. And what better time to start than your 20s? So, what are you waiting for? With the tips above, get your financial plan into action with Kool Kanya’s course ‘Finance Fastrack 1.0.’

Disclaimer: You may be reading this blog after the current learning course has lapsed. Head over to our all courses page to check for the latest courses and skyrocket your professional journey.

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Knowledge is power. At Kool Kanya, we urge you to Raise Your Power by learning things you never learnt in classroom. Get your PowerPass now, and build a career you love.