The new tax year is a great time to reassess your financial habits and set new goals. But how do you balance your short-term needs with your long-term ambitions? Here, we share some top strategies for juggling multiple financial goals in the new tax year.

The three pots approach

One effective way to prioritise your financial goals is to use the three pots approach. This involves categorising your goals into three groups:

  • Short-term goals (1-2 years): These are goals that you want to achieve in the near future, such as saving for an emergency fund, a down payment on a car, or a holiday.
  • Medium-term goals (3-5 years): These are goals that you want to achieve in the next few years, such as saving for your first home deposit or paying off debt.
  • Long-term goals (5+ years): These are goals that you want to achieve in the long term, such as saving for retirement, building your wealth, or setting money aside for your children’s education.

Evaluate your current situation

If you’re behind where you want to be, the new tax year offers a perfect opportunity to reset and get back on track.

  • Track your progress: Make a habit of logging into the Moneybox app. Seeing how far you’ve come is motivating, and tracking tools like our Goals feature can make this easier.
  • Update your settings: Saving isn’t one-size-fits-all. If your current Moneybox settings aren’t quite clicking, consider adjusting them. You can set up automated weekly deposits or payday boosts, or try a one-off payment.

Remember – breaking larger goals down into smaller, actionable steps will help you see tangible progress!

Update settings

1. Leverage ISA allowances

Making the most of your Individual Savings Account (ISA) allowances is a great way to boost your savings and protect them from tax. Remember that for the 2025/26 tax year, if you are a UK resident you have a £20,000 ISA allowance. Here are some ISAs available.

Lifetime ISA (LISA):

  • Could be helpful for first-time buyers working towards a deposit, and also an option to consider for those building a long-term retirement fund.
  • Contribute up to £4,000 each tax year through Moneybox and get an added 25% bonus from the government for free – that’s potentially an extra £1,000 a year.

Govt. withdrawal charge may apply. ISA and tax rules apply. For S&S LISA, capital at risk.

Stocks and Shares ISA:

  • More suited for medium to long-term goals, like building wealth or saving for big life events.
  • Choose from our three Starting Options, each built by experts and including a range of diversified tracker funds or customise your own allocation. Enjoy tax-free gains!

Capital at risk. ISA and tax rules apply.

Cash ISA:

  • A great choice for your short-term goals, like saving for a holiday or building a crucial emergency fund.
  • Your savings earn interest tax-free, helping your money grow steadily and securely with Moneybox.

ISA and tax rules apply.

Explore ISAs

2. Prioritise and align goals

Think of your goals in stages: what do you want to achieve soon, and what’s further down the line? Effectively allocate savings for now, the next few years, and the future, with time on your side for long-term growth
Unsure which account to choose? Click through to answer a few questions and we’ll suggest the accounts that might suit your goals.

Discover accounts

3. Build saving strategies that stick

Make saving easy to stick to by matching it to your daily habits and preferences. Choose the saving tools that help you reach your money goals.

  • Multiple savings accounts: You can use separate Moneybox savings accounts for each goal, helping you see all of your savings in one place.
  • Automated contributions: Set up regular deposits into your saving and investment accounts, so saving happens without you even thinking about it.
  • Round ups: Let Moneybox round up your spare change and automatically put it towards your goals – small amounts add up!
  • Budgeting: Track your spending and identify areas for potential savings.

Use round ups

4. Be flexible and adapt

Regularly review your financial plan and adjust it as needed, to reflect changes in your circumstances or lifestyle.

  • Scheduled financial reviews: Make time in your calendar to review your spending and savings, whether it’s weekly, monthly or quarterly.
  • Life event adjustments: Prepare to tweak your plan when big life events happen – a new job, moving, or a growing family can all impact your finances.
  • Performance monitoring: Periodically monitor your investments and adjust your portfolio if needed.
  • Goal re-evaluation: Check in with yourself – are your goals still what you want?

Capital at risk. All investing should be long term. The value of your investments can go up and down, and you may get back less than you invest.