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
- We are ahead here as we have already added $3,000 to this account.
Open up and fund Maria’s TFSA to $3,600
- As soon as the goal above is achieved we will open and start funding this account.
Pour a concrete patio and purchase and place a hot tub on it
- Here in Alberta the snow is almost all gone so we will be able to start making progress on this one in the second quarter.
Receive $2,400 in dividends
- Unless we fund accounts to higher than expected totals earlier in the year this one will take most of 2019 to achieve. Currently slightly behind, who doesn’t like a comeback?
- Through the first quarter we have received $496.56.
Do not pay even one penny in interest on any credit card
- 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
- So far we are 7% 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 first quarter we have placed $1,650 into the RRSP account.
Beat the TSX (Year end TSX $14,315)
- We cannot really put a stand alone percentage number so far as we know the stock markets can do crazy things. Through the first quarter the TSX is up 12.42% while we are up 18.2%. Pretty impressive as we are not accounting for any money added this year.
Receive $700 from our cash back credit card
- Currently ahead on this one as we have received $240 on our cashback balance.
Fund the kids RESP by at least $2,400
- Hoping to fund this in the third quarter of the year.
Increase net worth by $60,000
- Although things can change and this can fluctuate we are on a roll to start the year as we have already surpassed our 2018 total. Have to stay focused and keep this growing as this goal really helps us progress to our ultimate goal, early retirement or do whatever we want.
Reduce debt to asset formula from 61% to 57%
- Last year it took the whole year to accomplish a 3.5% decrease and this year we reduced it by 4% in the first quarter alone! This makes me very happy and shocked at the same time.
- Debt in the quarter decreased by $8,322.
- Assets in the quarter increased by $33,518.
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 after the first quarter. 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?
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Invest in yourself
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