Hello all, for those that follow me know that at the end of each quarter I update the progress of the goals that we had set back at the beginning of the year. So without further to do here is our progress:
2019 Financial and Personal Goals
Increase my TFSA account by $6,000
- Had this done rather early in the year, by May.
Open up and fund Maria’s TFSA to $3,600
- Account has been opened and $5000 funded.
Pour a concrete patio and purchase and place a hot tub on it
- Well we got lucky here. Little did i know that if you buy an Arctic Spa you only need a road crush base, that saved a few hundred for sure!
- Hot tub has been purchased and installed.
Receive $2,400 in dividends
End of March 21%. End of June 49.5%. End of September 75%
- Well dividends were good in the third quarter and has put us on pace in completing this by year end.
- Through the Second quarter we have received $1,802.
Do not pay even one penny in interest on any credit card
- On pace.
- This is something we have always made a priority of in our family, we pay the credit card off in full at the midpoint and end of each month.
- So far this year we are on target with this one if you ask me. We have started to go through items in our house such as clothing, toys, shoes and miscellaneous items no longer used. All these items have been donated to local charities or friends that are looking for such items.
Increase the RRSP account by $5,100
End of March 32%. End of June 67%. End of September 88%
- So far we are 17% ahead of the goal set. This one has a certain amount taken off each check, so we should have no reason not to hit this.
- Through the third quarter we have placed $4,467 into the RRSP account.
Beat the TSX (Year end TSX $14,315) End of March up 18.2%, End of June up 16.5%, End of September 19%
- We cannot really put a stand alone percentage number so far as we know the stock markets can do crazy things. Through the Third quarter the TSX is up 13% while we are up 19%.
Receive $700 from our cash back credit card
- Completed by the first half of the year.
Receive $1200 from our cash back credit card *NEW GOAL SET JUNE *
- Ahead of target as we are sitting at $1,109.
Fund the kids RESP by at least $2,400
- This account has been funded by $2,500.
- The government will be sending over $500 on top of that.
Increase net worth by $60,000
End of March 67%. End of June 80% End of September 100%
- Currently ahead with a net worth of $61,978, now to keep what we got to stay above in last quarter.
Reduce debt to asset formula from 61% to 57%
100%, End of March 57%. End of June 54.5% End of September $53%
- Last year it took the whole year to accomplish a 3.5% decrease and this year so far we reduced it by 8%.
- Debt through 3 quarters of the year decreased by $17,538.
- Assets through 3 quarters of the year increased by $44,440.
Finding new ways to reduce waste in our household
When we set this goal we really didn’t know where to start however here are a few reductions made so far:
- Stopped purchasing single use razors and went with an electric razor, i find you have to shave more often however your not throwing out multiple blades each month
- Reusable bags and boxes are used for grocery shopping, still getting in the habit of remembering the bags.
- Using the compost bin which is a challenge on its own, if your trying to figure out what’s smelling up the house you may want to dump your compost :).
- Purchased rechargeable AA and AAA batteries. As we have two younger children this has really helped the environment and let’s face it, the bank account.
To be honest I’m not sure we could be any happier with the progress so far . Although some of the goals have yet to be started this has been a great start to 2019. Setting goals each year has really taught us to be disciplined when we need and keeps you 100% accountable in setting up your future for success.
Do you set annual goals? Has it helped you in achieving them?
Please feel free in leaving a comment below and remember
Invest in yourself