I think 2020 has been a wash for too many of us. Low income dried up into no income when at least 15% of workers suddenly found themselves unemployed or their hours severely cut back when the coronavirus forced businesses into lock down. Unfortunately, too many small businesses were unable to recover and shuttered their doors forever.

Covid-19 hit many households hard when someone became ill with the coronavirus. Or worse, passed away from this awful disease.

We worried about paying our bills when we lost our income. We wondered if we’d ever get the credit card debt paid off or save money for an emergency fund or our retirement.

less stress

2020 became a financial wake up call to me and to so many others. Let’s make it a goal in 2021 to take care of a few things so that we can enjoy a greater peace of mind.

Your life will be less stressful if you take action on financial goals.

I’ve rounded up some posts I’ve written, and come up with 11 financial goals for 2021.


Start your emergency fund and put $1,000 in there right away. If you already have an emergency fund, your task also is to get another $1,000 in there as soon as possible. Another thousand dollars helps with peace of mind.

Click the banner below for more information about why you need an emergency fund.

Nobody cares more about my money than I do


Have you started a money map? Does it need to be updated?

Figuring Out Your Money

Money comes in. Money goes out. Are you keeping track of what’s going where?

Money maps are always changing, fluctuating with your income and your needs. You’ll need a pen and paper and then click the above photo to get started.


The budget for people like me who aren’t into budgets!

Track Your Spending using a Backwards Budget

The secret to a backwards budget is to figure out how much money you’re spending every month and making sure there’s enough money in your bank account to cover all your expenses.


2021 is the year to pay off in full at least one debt, whether it’s a personal loan or a credit card.

Get the ball rolling!


Nobody wants the collection department of a financial institution or utility company phoning to remind you about a late payment.

And we especially don’t want any of those sleazebag collection agents calling who buy bad debt for pennies on the dollar and threaten the debtors.

Make 2021 the year to catch up on late payments. Doesn’t matter if it’s your rent, phone, or credit card. Get caught up before things get worse.


Christmas seems to sneak up on us every year. Make 2021 the year to start a Christmas fund envelope. Buy all your Christmas gifts with cash and you won’t be stressed out in January when the credit card bills show up.

Christmas Stress caused by (lack of) Money

If you don’t buy Christmas presents, then make it a vacation fund. Put $100 into an envelope or savings account every month.


Is DIY Investing a Better Choice for Women?

You might be really good at saving money, but with low interest rates, your cash isn’t doing a whole lot sitting in a bank account.

It’s time to bite the bullet and start investing.

Sure, it’s a little risky, but if you do your research, you can find some stocks that match your level of comfort.

Let’s make 2021 the year to begin investing! Open an online trading account and buy a stock, one of the all in one ETFs.

I use Questrade for online trading. If you’re interested in setting up an account, you can sign up using my “refer a friend” code 415632012426909 and get $50 worth of free trades. I will also receive $50 in my trading account. Yay! Free money for both of us! You will have to transfer $1,000 into your new Questrade account before you can start buying stocks.


Choose two things to cut costs in. For example lose the landline and stop eating out.

12 Things I Quit Buying to Help Save Money


Incur no further debt. Around here we’re all about becoming debt free and saving for retirement.

In my post Managing my Money during the Coronavirus Pandemic, #1 on my list is “Incur No Debt”.

Managing my Money during the Coronavirus Pandemic

I break it down a little further. On a low income, I can’t afford to go into debt because it’ll be too hard to repay. Fortunately I’m not a spender, so aside from emergencies or a handful of Internet purchases, the credit card stays unused.

“No unnecessary spending” is also on my financial goals list. A financial plan can be as easy or complicated as you make it out to be. My plan has 6 items. Yes, that’s 6 short sentences on managing my finances.

Can you come up with a few things, too? You’ve got this!


Do you need to buy life or home insurance? Or update your policy?

If you’re single, no parents, no kids, and no apparent heirs who will be left struggling to survive if you pass away, there’s probably no need for life insurance.

Research other types of insurance you might need.

NEVER drive your car if it has no insurance. A car crash/no insurance scenario comes up at least once a week on Judge Judy.

If you’re a homeowner, you need insurance. Your mortgage company probably requires it.

If you’re a renter, you can take out tenant insurance. Just imagine the worst thing happening, like a fire, and all your possessions are gone. How much will it cost to replace them?


Whether or not you’re single, take a look at some of my posts with simple financial advice:

What do single women need to know about banking?

Women and money: short term needs and long term goals.

Being a single woman and dealing with a bank or credit union.

Changing your money attitudes when you’re suddenly single.

Can low income single women retire comfortably in Canada?

If you need beginner’s advice on investing your money, see the model portfolios on the Canadian Couch Potato, or for Americans, learn more at Couch Potato Investing.


I hope you find some of the links provided in this article helpful for your 2021 financial goals.

My hope for all of my readers is peace, happiness, health, and prosperity in 2021!

More reading:

Peace of Mind with a Fireproof Document Bag

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