Financial Goals for 2014: Year End Review
Before the year officially closes, reality check for these goals.
- Complete payment of bank and personal loan – target end of January – completed personal loan just recently by realigning budget.
- Religiously pay SK LU – was able to pay required amount for 2014 with no delays. I can’t believe I have already completed paying close to 60%. 18 months to go!
- Maintain 7k savings for lot processing/housing fund
- Mid Year: Had to adjust last Jan. and Feb. because of other payables. So far, consistent in the succeeding months.
- Year End: Had to adjust around July because we were transferred to another site, hence transportation expenses increased. I had been taking the cab since the transfer since on the first night I attempted to commute, my bag was slashed. Haven’t recovered since then. Besides, there’s always the laptop to bring home in case there are emergency calls especially in the mornings when I can’t wake up early enough to get to the office on time. Also, I’ll be shouldering the tuition fee of a niece so I had to start saving for this as early as I can.
- Save 35k to add to safety fund (aka emergency fund). Target to accumulate 3 months’ worth by end of year.
- Mid Year: Changed priorities around April so new target is to complete SF (6 months) by end of this year or until Jan. 2015.
- Year End: Changed decision again around July (all in UITF will only be for retirement fund and not for SF) so new target is to complete SF (6 months) by June 2015. Was able to save around 4.5 month’s worth to date.
- Maintain 2k/month allocation for BDO EIP – on track for 2014 target.
- Increase MF to 20k
- Mid Year: Still consistent with the 500/month budget but currently evaluating if I would still continue with this or just switch to UITFs.
- Year End: Reallocated saved fund to open a BPI account. Also still thinking whether to continue or just focus on UITFs. I have to say the results are not that impressive as compared to the UITFs I placed in late 2013.
- Add 10-20K in stock market.
- Mid Year: Still on track. 5K added to date
- Year End: Total of 16K to date from regular budget. Also reallocated more funds to stocks and decided to delay house project for a while.
- Complete my version of the 52-week challenge.
- Mid Year: Missed some weeks and switching to a lower base for the succeeding weeks to make it more realistic
- Year End: Was not able to complete because of an increase in expenses starting July. Saved amount will be used for a want since this is savings on top of the regular savings that’s already part of my budget.
- Continue donation for church construction in my hometown where my mom was active on her last few months with us – will hand over whatever is saved for this during the New Year mass.
Six out of nine met. Not bad I guess, given the circumstances of why the other goals were not met. Up next, 2015 goals.
Cheers to more savings in 2015!