Consumer & Retail Banking

Consumer & Retail Banking
Article

2026-09-08

Are Your Financial Goals Still on Track? It’s Time to Review and Reset

As September begins, we are already well into the year. The financial goals you set at the beginning of the year may also be showing different levels of progress.

Perhaps your emergency fund is getting closer to its target. Maybe you have been consistently setting aside part of your income every month. Or perhaps some plans have been put on hold because other financial needs came up along the way.

If your financial goals are not progressing as planned, September can be a good time to review them. You do not necessarily need to start over or create entirely new goals. Sometimes, all you need is to understand your current financial position, adjust your plan, and move forward with more realistic expectations.

So, how can you review your financial goals and keep them relevant for the rest of the year?

Why Should You Review Your Financial Goals?

Setting financial goals gives you a clearer direction for managing your income. When you know what you are working toward, it becomes easier to determine how much money to set aside and what each portion of your savings is intended for.

However, personal finances do not always go exactly according to plan.

Unexpected expenses, changes in income, family needs, and new priorities can all affect the financial plans you made earlier in the year. This is why reviewing your finances regularly is important. It allows you to make sure your goals still reflect your current circumstances.

With several months remaining before the end of the year, September is a good opportunity to assess your progress, reconsider your priorities, and decide which goals you want to continue pursuing.

1. Review the Financial Goals You Set Earlier

Start by looking at the financial goals you previously set.

Were you planning to build an emergency fund this year? Save for your children’s education? Prepare for Umrah or Hajj? Buy a home? Or start building assets for your long-term financial needs?

Once you have identified your goals, check how much progress you have made toward each one.

For example, suppose your goal is to save Rp12 million by the end of the year and you currently have Rp8 million. This means you still need another Rp4 million to reach your target.

Knowing exactly where you stand makes your financial goals easier to calculate, manage, and turn into practical monthly targets.

2. Decide Which Goals Are Still a Priority

The financial goals you set at the beginning of the year may not have the same level of priority in September.

For example, you may have initially planned to allocate more money for a holiday. A few months later, however, building an emergency fund or preparing for your child’s education may have become more important.

It is perfectly reasonable to adjust your priorities.

Instead of trying to pursue every financial goal at the same time, consider ranking them based on urgency, importance, and timeframe.

In general, financial goals can be grouped into:

Short-term goals, such as expenses you expect within the next few months.
Medium-term goals, such as Qurban, Umrah, home renovations, or education expenses.
Long-term goals, such as buying a home, preparing for Hajj, or other future financial plans.

Grouping your goals by timeframe can also help you decide how the money for each goal should be saved and managed.

3. Recalculate How Much You Can Save Each Month

Once you have established your priorities, review your monthly cash flow.

Calculate your income, regular expenses, financial obligations, and other spending. This will give you a more realistic picture of how much you can allocate toward your financial goals each month.

There is no need to force yourself to save an amount that could make it difficult to cover your everyday needs. Building a consistent saving habit is more important than setting an unrealistic monthly target.

To make saving more disciplined, you can also separate money for specific goals from the account you use for daily transactions.

One option is Tabungan iB Hijrah Rencana from Bank Muamalat. This savings account comes with regular monthly deposits designed to help you prepare for specific financial goals. It offers savings periods ranging from 3 months to 20 years, with monthly deposits starting from Rp100,000.

Separating your money according to its purpose can also make it easier to monitor your progress over time.

4. Separate Your Everyday Money from Funds You Will Not Need Soon

Not all of your money needs to be kept in the same place.

Money for food, transportation, bills, and other everyday expenses should generally be easy to access. For these needs, a transactional savings account such as Tabungan iB Hijrah can support daily transactions through Muamalat DIN and the Muamalat Shar-E Debit Card.

But what about funds that are already available and will not be needed for the next few months?

Keeping these funds separate can help prevent them from being unintentionally spent on other expenses. One option to consider is Deposito Online iB Hijrah Muamalat, a Sharia-compliant time deposit based on a mudharabah contract that can be opened through Muamalat DIN.

The deposit can currently be opened with a minimum placement of Rp2.5 million, with tenure options of 1, 3, 4, 6, or 12 months. This allows you to choose a placement period that aligns with when you expect to use the funds.

5. Look Beyond the End of the Year

When reviewing your finances, do not focus solely on what you want to achieve by December.

Consider what financial needs you may want to prepare for over the next three, five, or even ten years.

If performing Hajj is one of your long-term goals, for example, you can start preparing gradually through Tabungan iB Hijrah Haji. Deposits can be made through various channels, including e-Banking and scheduled transfers, allowing you to build your Hajj fund according to your financial capacity and plans.

For other long-term financial goals, some people may also consider building assets as part of their financial planning, including through gold.

Bank Muamalat offers Solusi Emas Hijrah, a financing facility for purchasing gold bars based on a murabahah contract. Gold is available starting from 5 grams, with financing periods of up to 10 years, subject to applicable terms and conditions.

Whichever option you consider, it is important to align it with your financial goals, financial capacity, timeframe, and individual needs.

6. If You Fall Behind, Adjust Your Plan Instead of Giving Up

One common mistake in financial planning is treating a missed target as a failure.

In reality, financial goals can be adjusted as your circumstances change.

Suppose you originally planned to save Rp20 million by December, but your current financial situation makes that target difficult to achieve. You could extend the timeframe, temporarily lower the target, reduce certain expenses, or look for additional room in your monthly budget.

Adjusting your plan allows you to keep moving toward your goal without putting unnecessary pressure on your everyday finances.

The key is to maintain progress, even if the pace is different from what you originally planned.

7. Set More Specific Goals for the Rest of the Year

Instead of simply writing down a goal such as “I want to save more,” turn it into something measurable.

For example:

Goal: Rp15 million education fund
Current savings: Rp10 million
Remaining amount: Rp5 million
Timeframe: 5 months
Monthly allocation: Rp1 million

A simple breakdown like this makes your progress easier to track and gives you a clear amount to work toward each month.

The same approach can be applied to different financial goals, from building an emergency fund and preparing for Qurban or Umrah to education expenses and homeownership.

If owning a home is one of your long-term financial goals, you can start preparing your finances early, including the initial funds and your capacity to make regular financing payments.

When you are ready to take the next step, KPR iB Hijrah from Bank Muamalat is one Sharia-compliant home financing option you can consider.

Make September Your Opportunity to Reset

Financial planning does not always go perfectly.

Some goals may be achieved earlier than expected, while others may take longer. Certain goals may also need to change as your priorities and circumstances evolve.

What matters is understanding where you stand today and having a clear direction for what comes next.

There is still time in September to review your financial goals, reorganize your priorities, and build more consistent financial habits for the months ahead.

Start with a few simple steps: revisit your goals, review your financial capacity, set realistic priorities, and consistently allocate money according to your needs.

Take the opportunity to reset your financial plans this September with Bank Muamalat.

Are Your Financial Goals Still on Track? It’s Time to Review and Reset

Baca Juga :