So in one of my earlier posts I talked about the importance of setting goals and reviewing those goals to make sure you’re on track with your money and life. Today I re-read my earlier post and have copied my goals below:

1) Ensure my emergency fund is kept in a competitive instant-access savings account with an interest rate above inflation (at the time of writing: 3.15%)

2) Save for a deposit on a house of £50,000

3) Contribute 10% of my income every month to my pension

My previous goals that have been reached include:

1) Create an emergency fund with 12 months worth of essential expenses (rent, food, bills)

2) Create a wedding fund

Where am I at with these goals? I have an emergency fund which is only worth about 3 months living expenses because my priorities have changed (I have no dependents yet). I have managed to keep it in a decent enough interest account (2.8%). I have an account devoted to my deposit on a house. I haven’t started my pension yet because I haven’t had my first pay check yet. I have an idea of what I’d like to invest my pension in.

What I realised is that I forgot a crucial goal: Get a credit card. Why? I need to build up my credit score. Before I even think about applying for a mortgage in about 10 years time I need to ensure I get the best deal by having a really good credit score.

As the start of the academic year looms for many undergrads and postgrads I figured a reminder of goal setting would be fitting.