Classical invariants, despite most of them having unclear physical interpretation and not having experimental advantages, have been extensively used in modeling nonlinear magneto-elastic materials. In this paper, a new set of spectral invariants, which have some advantages over classical invariants, is proposed to model the behavior of transversely isotropic nonlinear magneto-elastic bodies. The novel spectral invariant formulation, which is shown to be more general, is used to analytically solve some simple magneto-mechanical boundary value problems. With the aid of the proposed spectral invariants it is possible to study, in a much simpler manner, the effect of different types of deformations on the response of the magneto-elastic material.