Financial Goals 2017
As 2016 comes to an end I’d like to reflect back on what was achieved and set new goals for the coming year.
I’m a big believer in setting goals and making deadlines for them.
One of my favourite quotes:
I really like it because everyone has dreams, but very few actually put in the work required to realise those dreams. Too many people (myself included) think of doing something great but it just never happens because you don’t put any pressure on yourself and rely purely on motivation.
Motivation only lasts so long and when it runs out you should be relying on habit/routine to get the job done. “I’m just not motivated today” is the wrong attitude. Everyone starts the project with motivation, but it’s the habits formed that will see the project completed.
It’s so important to actually map out a plan of attack for your dream no matter how small it is and say to yourself:
“I’m going to have X done by this time next week/month/year”
And then break the task up into smaller sub tasks if it’s a big project. But make sure you set a time and date that you want it completed by or else it will get pushed to the side every time.
I have a rule with this blog that I MUST write a minimum of two posts per month no matter what! No excuses!
This has led to me publishing a new post at 11:30PM once with work on the next day. That’s the price I pay for not being more organised.
What Did I Achieve In 2016?
2016 was a huge year for me personally and financially.
- Moved into a share house
- Watched as the RBA cut the cash rate twice to 1.5%
- Watched Malcolm Turnbull and the Liberal party get elected
- Had 2 properties gain and one lose value over the course of the year
- Joined financial forces with my partner
- Bought around $50K worth of ETFs
- Moved in with my partner
- Broke into the $200K net worth club (so close to the $250K damit!)
I originally wanted to buy another investment property and dip my toes into ETFs for 2016. But the more I thought about it, the more I was leaning towards ETFS.
2017 Financial Goals
My big financial goals that I want to achieve by the end of the year are
- Obtain a savings rate of 65% or better
- Reach $100K in ETFs
They are both very measurable goals and are something I can review monthly to track how I’m going.
My big goals for the blog are:
- Try to release a podcast every month. It’s the number one thing I get requests for. I love doing them too I just find it hard to find guests
- Revamp the home page
- Write more about Super
What Are Your Goals?
What do you hope to achieve financially on your way towards FIRE in 2017?