My Business Financial Goals For 2025

Entrepreneurialism

Jan 3

I typically set an income goal for my business each year. While I include my expenses, benefits, and owner’s draws in my budget, I’ve never considered each of them a goal.

For 2025 I decided to focus more on these line items. It’s easier to achieve smaller goals anyway. And you gain wins along the way that encourage you to keep going.

My 2025 Business Financial Goals…

Max out my HSA: $4,300

I’ve been able to max out my health savings account contributions for the past few years.

My health insurance plan has a high deductible, and while I fortunately haven’t had to use it, in the event of an emergency, I feel confident knowing I have money saved up to cover it.

I also use my HSA to pay for qualifying expenses that my health insurance won’t, including my eye exams, contact lenses, dentistry, and co-pays.

And I’m discovering other ways I can use my funds. I recently purchased an Oura ring using my HSA.

If your health insurance plan qualifies for an HSA, it’s worth maxing it out. Not only for the peace of mind that comes with having money saved for health, it’s the only account with a triple tax advantage.

Increase my owner’s draws to $2,000/mo.

I’ve been paying myself around $900/mo. for the past few years and, I’m fed up with making less than I did at my full-time job when I was 19 years-old.

I’m grateful for my husband’s steady engineering income, but we have our own savings goals planned in addition to vacations we’d like to take and home improvement projects we’d like to invest in.

Plus, I’d like to feel secure knowing that if anything happened to my husband’s income, I could support myself.

Read My Business Outgrossed My Husband’s Engineering Income by 29% Last Month — But I Took Home 75% Less Than He Did →

On February 1st I’m going to increase my income to an even $1,000/mo. and steadily bump up to $1,500/mo., then $2,000/mo. by the end of 2025.

Before I give myself a raise, I want to ensure I’ve maxed out my HSA, have money set aside for taxes, and…

Have three months of expenses and owner’s draws saved

My business’ emergency fund took several hits since 2020 and I no longer have one.

I recommend having 12–18 months stashed in an emergency fund, but since I’m also trying to increase my owner’s draws this year, I’m focusing on one goal at a time. Having a three-month emergency fund being my goal for 2025.

Read How I’d Build My Business’ Emergency Fund (If I Could Do It All Over Again) →

Three months of expenses and my upcoming owner’s draw of $1,000/mo. is about $5,750.

Before I give myself a raise to the next level, I want to increase my emergency fund to accommodate the new increase in owner’s draws. It will be as follows:

3 Month Emergency Fund (expenses + owner’s draws)
$1,000/mo. owners draw: $5,750
$1,500/mo. owner’s draw: $7,250
$2,000/mo. owner’s draw: $10,250

Increase my SEP IRA Contributions to $75/week

I currently contribute $30/week to my Simplified Employee Pension Plan (SEP) IRA.

Just like with my owner’s draws, I plan to steadily increase this contribution throughout the year until I hit $75.

A SEP IRA is the self-employed equivalent to a 401(k). And just like with a 401(k), you can have a Roth IRA as well. I contribute $55/week to my Roth from my personal bank account.

Current SEP IRA contribution limits.

I’m excited to have small, achievable goals to work towards throughout the year. It gives more meaning to my overall income goal for 2025. What are your business’ financial goals?

If you enjoyed this post, you can buy me a coffee or connect with me here. Thank you! =)

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