At the beginning of the year we had set out both personal and financial goals for the 2018 calendar year and as promised here is where they stand through the second quarter of the year. The goal so far is to be at 50% or higher. Let’s see how we are doing!
Increase the TFSA account by $8,600
Well we sold some liquid assets to fund the TFSA account, plus just wrapped up a turnaround at work which gave us some additional funds and dividends have been growing quite nicely. So we ended up increasing the TFSA by $20,497 in 2018. So time to set another goal.
Increase the TFSA account by $25,000 (New Goal Set)
When I make this happen we will be that much closer to maxing out my TFSA and moving on to starting my wife’s account.
Increase the RRSP account by $3,600
We got a bit lucky with this one as the company I work for decided to match up to $750 annually. I was also on a turnaround where we got some overtime so this one is well on its way to complete before the end of the year.
Open an RESP account for both Zoey and Colton
Hoping to have all this set up and slightly funded later in the summer.
Save for and go on one family vacation to Mexico
The vacation has been fully funded. Now time to have some drinks and enjoy the ocean with family.
Post a minimum of one blog per month
Ahead of the game here with a minimum of 1 post per month and 2 months with 2 posts
Receive $1,500 from dividends and reinvest all of it
Well ahead at this point with $887 received. So time to step it up and set another goal in 2018.
Receive $2,000 from dividends and reinvest all of it (New Goal Set)
New goal set, I love a challenge.
Now that the basic landscaping is complete build extended deck and plant trees in backyard
Well check back in the 3rd quarter as this goal is set to start in July.
Go to at least 2 NHL hockey games
I have went to one game this year which was Boston vs. Edmonton. Being a Bruins fan really worked out as they had a come from behind victory. I did go to Boston and knock one off the bucket list with going to a Redsox game which was amazing!
Do not pay a penny of interest on any credit card and receive at least $500 in cash back
We are currently on target as the balance was yet again set at 0 on the last day of June and I’m happy to say we are also ahead of our goal in cash back as we are at $413 meaning it’s time to add another goal.
Receive at least $900 in cash back on credit card (New Goal Set)
Here we go
Reduce debt to asset formula from 67.5% to 61%
Still slightly ahead (63.6%) as we have reduced debt so far by $16,966 through the second quarter and increased assets by $12,122. If we can keep pace we should be way ahead of our goal set!
Increase net worth by $60,000
Net worth has increased by $25,488 so far in the year. Last quarter we were only 19% complete meaning we have gained an additional 4% in just 3 months! If we can continue 4 % extra each quarter we will just barely make this goal. It will come right down to the very last month.
Increase my financial IQ
For this one it has lots to do with me being honest. I’m going to give myself this one, so far my wife and I attended a 3 day investing workshop back in February which has really opened up my eyes on how to really look at what a company is worth regardless of stock price. It also has taught me to look at what the Guru’s are doing and also who within each company is buying and selling. All these indicators now assist with my decision to purchase a company or not. Another key note would be looking at the stock trend and doing my best to buy on upward trends and not so much when a stock is creating new lows. We also attended a conference for out home based business that really keeps you focused on setting and breaking goals.
Currently completing some management training that focuses on financing and reading quarterly reports. I will continue to put extra effort here to get a better understanding of evaluating companies.
Maria to hit “Qualified National Marketing Director” in her home based business
Maria was able to accomplish this before the end of the first quarter. This is the second highest achievement through the business levels. Very happy for her!
Maria to hit “National Marketing Director” in her home based business
Maria is working away at this goal and may be closer than this however we will start here and I’ll get more of an accurate update next quarter.
Well I would say the Second quarter has been better than the first. Setting goals and following up ever quarter is important in ensuring that you stay on target. It’s a great way to see if you have set your goals on the low side and gives you the opportunity to adjust them accordingly as well as set new goals.
Have you set goals for 2018? How are you doing so far? Hit any speed bumps?
Thanks for reading and remember………..
Invest in yourself