Humphrey Yang: 5 Ways To Actually Achieve Your Financial Goals in 2026
While it's easy to think about making goals and improving your financial situation, sticking with smart habits that help you succeed is another story.
In a YouTube video, financial expert Humphrey Yang discussed five strategies that can help you get past common roadblocks and meet your financial goals in 2026. These tips can help you with everything from paying off a credit card to meeting your retirement savings goal.
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Use the WOOP Method
Yang discussed using the "Wish, Outcome, Obstacle, Plan" (WOOP) method associated with psychologist and professor Gabriele Oettingen. It's based on the idea that it takes more than intent to succeed at something, as people often encounter obstacles that lead to failure.
To follow this method, you'd first determine a specific achievable goal and then imagine the feeling of achieving it and the meaning behind it. Next, you'd jot down obstacles that might derail you and then make a clear plan for those potential roadblocks in an if-then format.
Yang explained, "It's like if you have a plan for a problem or an obstacle you might run into, you're more likely to achieve the habit."
The WOOP method is useful for more than just your money. Its website links to studies showing its success in achieving goals such as eating healthier, exercising more, changing social behaviors, studying effectively and managing time.
Automate Habits
Automating money-related tasks increases your chances of achieving goals, though the method can make a difference. Yang cited a 2022 report from the Consumer Financial Protection Bureau showing that those with a "guaranteed savings rule" for each paycheck saved more money than those using alternative methods, such as automatic purchase round-ups.
So, he recommended, "Set one guaranteed automated transfer, whether that's weekly, biweekly or on payday, and make it substantial enough to actually move the needle."
By doing this, you'll stash away the money before you get the chance to use it in a less optimal way. You can also extend automation to bill payments to save time and avoid potential late fees.
Write Down Your Goals
While writing goals down might seem trivial, Yang discussed a 2007 study by Dr. Gail Matthews that found that following this practice boosted the chances of achieving goals by 42% compared to those who didn't. It also found that having someone hold you accountable further helps your chances.
Whether you use a pen and paper, an app or a website to jot down goals, Yang suggested breaking them down so they're less intimidating. For example, if you need $12,000 for a used car you'll buy in 12 months, a smaller goal would be saving $1,000 per month.
Make Your Goals Visible and Track Progress
Yang discussed multiple studies showing how awareness impacts discretionary spending decisions. For example, having your bank balance in front of you at the store might make you change your mind about an expensive impulse purchase.
Yang linked this research to the importance of being aware of your goals and tracking them for accountability and motivation. Since it's easy to forget your goals when you're busy with life, you'll want to have them somewhere easily accessible and set a time to review them regularly.
"I personally use a Google sheet where I track all my financial goals, including how much I want to save, invest or save toward a big purchase each month," Yang said. "And I check it all the time just to make sure that I'm on track."
Invest Consistently for the Long Term
Whether you're after a comfortable retirement or simply want to build wealth, investing regularly is important for achieving these long-term goals. One key point is that there's a much higher potential return than you'll get with a savings account. Yang mentioned an 8% to 10% average annual return for stocks, which he said beats the average returns for alternatives such as bonds, real estate and gold.
Plus, the effect of compound interest can surprise you after many years. Investing only $300 per month for 30 years at an 8% return can leave you with almost $408,000, with only $108,000 being your actual contributions.
Yang's tips for investing included considering diversified, low-cost exchange-traded funds (ETFs) and index funds (such as VOO and VFIAX) and automatically investing part of each paycheck.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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