9 Tips for setting financial goals and staying motivated

Tamika Sherman Avatar
Capt. Ashley Thropp seeks financial services advice from Jennifer Wood, one of the Idaho National Guard's financial counselors who provide tax assistance, offer support and counseling opportunities for credit management and provide training in money management, budgeting and home buying. They also help service members of all branches in reaching long term goals, such as emergency savings, education, buying a house and retirement.
Capt. Ashley Thropp seeks financial services advice from Jennifer Wood, one of the Idaho National Guard's financial counselors who provide tax assistance, offer support and counseling opportunities for credit management and provide training in money management, budgeting and home buying. They also help service members of all branches in reaching long term goals, such as emergency savings, education, buying a house and retirement. U.S. National Guard photo

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For military families, financial planning can be especially challenging. With frequent relocations, deployments, and unexpected life changes, staying financially motivated requires careful planning and resilience. A lot of people believe that joining the military takes care of your financial woes, and while yes, there is a sense of financial security, financial management requires ongoing work. This guide offers practical strategies to help military families set goals and stay on track for long-term financial success.

Managing finances can be particularly complex for military families. With unique challenges such as relocations (PCS), variable incomes, and extended deployments, maintaining financial motivation can be difficult. By following a structured plan and setting achievable goals, military families can create a stable financial future.

Below are key strategies to set financial goals, stay motivated and build financial resilience.

1. Set Clear and Attainable Goals

Frequent moves and deployments often disrupt routines, making it harder to stick to financial plans. Setting clear, specific financial goals gives military families a sense of direction and purpose, especially during transitions.

Tip: Break larger goals into manageable steps. For instance, if you aim to save $10,000 in a year, break it down into saving $833 per month. Achieving these smaller milestones provides a sense of accomplishment and helps maintain focus, even during unpredictable military life.

Example:
If you know a PCS move is coming, start saving early for relocation costs and emergencies. 

2. Track Your Progress Regularly

Tracking financial progress is essential for staying motivated, especially during times of change. For military families, reviewing financial plans after a PCS or deployment ensures that you stay on track despite disruptions.

Tip:
Use visual trackers like a savings thermometer or debt payoff chart. 

3. Celebrate Small Wins

In military life, where long-term planning can feel daunting due to frequent changes, celebrating small wins boosts morale and encourages continued progress.

Tip:
When you hit financial milestones, reward yourself with something meaningful—whether it’s a fun family activity at your new duty station or a special dinner at home. These small celebrations make long-term financial goals feel more attainable.

4. Focus on the “Why” Behind Your Goals

Understanding the larger purpose behind your financial goals keeps you grounded, especially during deployments and relocations. Whether your goal is to provide financial security for your family or build an emergency fund for unexpected military expenses, knowing the “why” helps maintain motivation.

Tip:
Reflect on the long-term benefits of financial discipline. For military families, having a solid financial foundation offers peace of mind during deployments and ensures stability through unpredictable circumstances.

5. Create a Budget That Aligns with Your Values

A budget that reflects your family’s values—whether it’s saving for a home, funding educational goals, or tithing—ensures that your spending aligns with your priorities.

Tip:
Create a budget that allocates funds for the things that matter to your family, such as savings, giving, or experiences. If being debt-free is a goal, prioritize debt payments and avoid unnecessary expenses during high-stress periods like PCS moves or deployments.

6. Automate Your Finances

Automation is key for consistency, especially when family routines are disrupted by deployments or moves. Automating savings and debt payments ensures you stay on track without constant effort.

Tip:
Set up automatic transfers for your savings or debt repayments. This takes one task off your plate and ensures consistent progress, regardless of life’s unpredictability.

7. Surround Yourself with Financial Inspiration

Military families often need encouragement to stay focused on financial goals amidst the unpredictability of military life. Surrounding yourself with financial inspiration—through blogs, podcasts, or social groups—can provide continuous motivation.

Tip:
Join military-specific financial communities or follow personal finance blogs tailored for military families. Being part of a like-minded group can help you stay motivated even when challenges arise. You can also find an accountability partner or create a vision board to stay motivated. 

8. Prepare for Setbacks

Setbacks are inevitable, especially in military life. Whether it’s an unexpected PCS or a sudden deployment, preparing for setbacks allows military families to adjust their financial goals without giving up.

Tip:
Build an emergency fund to handle unexpected expenses, ensuring that financial setbacks don’t derail your long-term goals.

9. Stay Focused on What You Can Control

External factors, such as changes in deployment schedules or economic challenges, can feel overwhelming. Focusing on the areas you can control, such as budgeting or cutting expenses, helps military families stay empowered.

Tip:
When financial stress arises, adjust your goals and continue moving forward. The key is to remain flexible without abandoning your long-term vision.

Setting and staying motivated to achieve financial goals is particularly important for military families. With the added complexities of deployments, PCS moves, and financial uncertainties, following a clear financial plan ensures stability. By setting realistic goals, automating finances, and celebrating small wins, military families can maintain focus and build a secure financial future. Apply these strategies to create a financial roadmap that keeps you on track, even when military life throws unexpected challenges your way because trust me, there will always be curve balls thrown your way.