Financial Goals for 2016: Mid-Year Review

And just like that, the first half of the year is almost over! So here’s my reality check.

Statuses:

  • Completed! as in done/finished
  • On track – met based on budget file
  • Not yet started – not yet started based on target start date on budget file
  • Quite – met but budget not followed (either there was a decrease/increase)
  • Not met – target not met based on budget file
  1. Religiously pay SK-LU. 5 months to go! Excited to mark this as completed!
    • Mid: Completed! – Last payment made this month! Ahhhhh, so happy happy!
  2. Save 50k for processing of papers for SK-LU. After completing the payment in June, I’ll have the same budget reallocated to this.
    • Mid: Not yet started
  3. Religiously pay SK-Silang. 2 years to go.
    • Mid: On track – many more months to go :p
  4. Save 50k for lot processing of SK-Bgo. 
    • Mid: Quite – too many reallocations
  5. Save 35k for CR of SK-Bgo
    • Mid: Quite – too many reallocations
  6. Increase EIP allocation to 3k/month
    • Mid: On track – started March 2016
  7. Increase MF to 20k (carry over from previous years)
    • Mid: Quite – still catching up with the savings but haven’t made any deposits to FAMI yet
  8. Add 20k-30k to COL 
    • Mid: On track
  9. Save 80k for Project BD (new in my budget file)
    • Mid: On track
  10. Religiously save 3k/month for niece’s tuition
    • Mid: On track – I can’t wait for her to graduate hahaha!
  11. Set aside a Tulong fund
    • Mid: Quite – too many reallocations
  12. Continue saving for an international travel
    • Mid: On track
  13. Set aside 10k for December 2016
    • Mid: Quite – too many reallocations
Let’s see what the year end update will look like.

Financial Goals for 2016

While I mentioned in my 2016 goals that I have the same financial goals as last year, I decided to make a separate post about it because it’s nice to go back to it by year-end and check whether I was able to make it or not. Besides, it adds a little more pressure in meeting your goals when it’s out there for the world to see.

And so, here it is, basing it from my budget file for 2016.

  1. Religiously pay SK-LU. 5 months to go! Excited to mark this as completed!
  2. Save 50k for processing of papers for SK-LU. After completing the payment in June, I’ll have the same budget reallocated to this.
  3. Religiously pay SK-Silang. 2 years to go.
  4. Save 50k for lot processing of SK-Bgo.
  5. Save 35k for CR of SK-Bgo
  6. Increase EIP allocation to 3k/month
  7. Increase MF to 20k (carry over from previous years)
  8. Add 20k-30k to COL
  9. Save 80k for Project BD (new in my budget file)
  10. Religiously save 3k/month for niece’s tuition
  11. Set aside a Tulong fund
  12. Continue saving for an international travel
  13. Set aside 10k for December 2016

I tend to use codes for my financial goals for some level of privacy still. Feel free to email me if you are curious about those hehe.

I already have 4 months parked for my safety fund. I originally planned for 6 months because of my parents, but since they both are now with Papa God, I’ll stop at 4 for now. I’ll add when excess funds become available.

No room for luho. Push lang. And just to stay focused, I’ll now have quarterly reviews.

2016 Goals

Better late than never. I just realized that I should do this in the last quarter of each year, before Christmas holidays take over.

This year’s focus will be: chill, family, health, wealth.

  1. Chill

    The past 3 years has been the hardest in my adult life, losing both parents less than 2 years apart. I would say I have not been living since then, just surviving. This year, as a gift to myself, I will just be chill and not get too stressed in all areas in my life. Enough with the drama. I have been practicing since for weeks now, and so far, so good. I get stressed a little but I don’t dwell on it much and just focus on what interventions I can do to address a current issue. I hope to keep this up.

  2. Buy less, want less

    I am not an impulsive shopper by nature but I think I have already accumulated too much over the years so this year, one of my goals is to just buy what I need. I won’t be in a strict “no shopping ban” since I can easily walk out from a mall empty-handed if I know that I don’t need anything at the moment. I just need to be more conscious of my purchases.

  3. Stick with financial budget for 2016

    Since I get a regular income, I already have a fixed budget. This year is almost similar to last year’s, even with my financial goals, except for a new line item, which I call it Project BD at this time. I’ll only be able to readjust after completion of all my payables. One is to be paid up by mid year but I still need to save for the processing of papers so that will be until end of this year still.

  4. Get an additional income stream

    I will start working on this, this year.

  5. Spend more time with family

    Most of my nieces and nephews are still young so might as well take advantage of that while they still want to be with tita hahaha! We had 2 last year so I already have an idea how much to budget. The plan this year is to have quarterly picnics for all of us to bond. They are already expecting one on my birth month which is this Q1.

  6. Get down to my ideal weight

    I really need to get serious about my health. I want a long life.

  7. Start training for a marathon

    I really want to do this. Target is 2017 so I must start training this year and so, I must really work on #5 so that it would be easier to run hehehe.

  8. Push with Japan Travel

    As of this time, it’s still a go. This is the only travel I’m doing this year. My financial goals are still my top priority. Note to self: save up for all kinds of kitkat hahahaha!

  9. Go back to school

    I had to stop when we lost our father in January 2015. I haven’t been back since then. I would still want to complete the program. I only have 12 units left!

  10. Become an early riser

    Since I work mid-shift, tendency is to wake up later than usual. By rising earlier, I will have extra hours to work on other personal projects, like decluttering more, cross-stitching, or working for extra income.

  11. Journal more

    I noticed that my memory is not as sharp as before already, hence this year and moving forward, I will write about all sorts of events, relevant or otherwise so that there is something to read back when I am much older. This is also the reason why I already have have the weekly recap in this blog.

That’s about it. My monthly goals will then be in support of these goals. And, I’ll do quarterly reviews to keep track.

Financial Goals for 2015: Year End Review

I have been delaying the reality check for the goals I’ve set in 2015 mostly because I know I haven’t met most of it hehehehe. You see, right after publishing my goals in 2015, life happened.
  • A piece of land called my name, the payment terms are easy, and I went ahead and bought one parcel. And this impulse decision impacted my goals early on hehehe.
  • As per tradition, we had to do something for mom and it was unexpected, and entailed a big amount. While she still had remaining money after her burial, it was not enough to cover all the expenses so I had to take some from my safety fund.
  • A day after the traditional ceremonies for our mother, our father was rushed to the hospital, and then we eventually lost him. Incurred a lot of hospital bills and burial expenses, which was thankfully covered by the donations we’ve received but it was still not enough so I had to again take some more from my safety fund. 
  • Admittedly, I resorted to retail therapy partly to cope with all the stress at the start of last year. I don’t regret my purchases though because most are things that I need and still using until now. 
And now, here’s my reality check.
  1. Complete safety fund (6 months’ worth) by June 2015 – FAILED (At 4 months by year end. Reevaluating now, given that I don’t have parents to take care of anymore)
  2. Religiously pay SK LU. 18 months to go – SUCCESS! (6 months to go!)
  3. Save a total of Php 61,500 by end of the year for lot processing/housing fund – FAILED (All funds reallocated to something else)
  4. Maintain 2k/month allocation for BDO EIP until June. Increase to 5k/month by July. – FAILED (Had to retain 2k/month until year end)
  5. Increase MF to 20k – FAILED
  6. Add 10-20k in stock market – SUCCESS! (Added a total of 12k. Small, but every amount counts!)
  7. Save a total of Php 40K for continuation of house construction – FAILED (All funds reallocated to something else)
  8. Attend at least 2 financial seminars – SUCCESS!
  9. Allocate a daily allowance and put all extra in a jar. This will be used for wants. – QUITE (Was able to save some from my allowance. Still not spent and will still be for wants)
  10. Continue donation for church construction in my hometown where my mom was active on her last few months with us – FAILED (All funds reallocated to something else)
  11. Set aside a Tulong fund for those unexpected expenses. I have been getting surprise requests since my mom died and it screws up my budget and stresses me out most of the time (all my income down to the last centavo is allocated to something so I really don’t have any extra fund which I can let go of anytime). Might as well be ready for things like this. QUITE. (Was able to save some on some paydays but still reallocated to other things. I was firmer with my NO this time, without feeling guilty over not being able to lend (aka give) money to borrowing relatives)
  12. Start saving for an international travel (planning to do backpacking in Europe as a graduation gift for myself when I complete the MTM program). Will initially set aside 2k/month for this. – QUITE (But for a Japan trip this year. Europe would have to wait but still in the list)
Too many reds, but this year is another chance to be better.

Financial Goals for 2015

Happy new year!

My 2015 will still be focused on improving my financial status, hence saving as much as I can. And so, here are my goals.

  1. Complete safety fund (6 months’ worth) by June 2015.
    2. Religiously pay SK LU. 18 months to go!
    3. Save a total of Php 61,500 by end of the year for lot processing/housing fund
    4. Maintain 2k/month allocation for BDO EIP until June. Increase to 5k/month by July.
    5. Increase MF to 20k
    6. Add 10-20k in stock market
    7. Save a total of Php 40K for continuation of house construction
    8. Attend at least 2 financial seminars.
    9. Allocate a daily allowance and put all extra in a jar. This will be used for wants.
    10. Continue donation for church construction in my hometown where my mom was active on her last few months with us
    11. Set aside a Tulong fund for those unexpected expenses. I have been getting surprise requests since my mom died and it screws up my budget and stresses me out most of the time (all my income down to the last centavo is allocated to something so I really don’t have any extra fund which I can let go of anytime). Might as well be ready for things like this.
    12. Start saving for an international travel (planning to do backpacking in Europe as a graduation gift for myself when I complete the MTM program). Will initially set aside 2k/month for this.

Will update by mid-year on my status.

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