GOAL SETTING: PART ONE - YEAR IN REVIEW

You’ll never reach a financial goal you never set.


How profound! Wish I'd said it. But no, I snagged it from "We the Savers - The Official Blog of Savers".


Here are the goals I set last October...I wonder how I did!


Financial Goals 2010:

I'll start with the goals that are easy to measure (with a calculator in hand).

• Save another $5000 for my TFSA (at $650 savings/month this should by attained by August, 2010) - Will be achieved TOMORROW!! Late but I will still count as a success:)
• Save $2400 for RRSP contribution (at $200/month beginning March 1st this goal will be reached in time for next year's taxes (Feb.29/12)- Changed this goal completely! I am no longer contributing to an RRSP - see this post for the reasons why!
• Save $2250 to add to my Emergency fund bringing it to a total of $3000 by year's end - well...yes and no...I have added more than $2250 but had to use some for car repairs and new tires!  Partial success!
• save $1500 for Christmas by Dec. 2011 - YES!! Success!
• Pay a total of $17,400 towards debt by Dec. 31/2011 (this includes $1200/month on Line of Credit and $250/month on PEI mortgage -major success - will have paid $26,550 ON LINE OF CREDIT by Dec. 31st!! That's where my RRSP money went to!   AND INCREASED MY PEI MORTGAGE PAYMENT TO $300 PER MONTH REDUCING THE AMORTIZATION FROM 25 TO 16 YEARS!! 
• maintain $100/month to World Food Program (now on automatic withdrawal so I won't miss a month due to forgetfullness!), and make six NEW Kiva loans this year ($150) in addition to reloaning the $$ that is repaid to me from previous loans (Sadly no, this will be a post in itself!)
• TRY to spend a maximum of $225 twice a month on groceries Success - actually spending $200 twice a month woo hoo!
• TRY to spend a maximum of $100 twice a month on gas (this will work out til the end of June and then will have to adjust due to doing a ton more driving in the summer - like to PEI!!! My Crofters Lane jar will help to cover summer driving. SUCCESS!! sticking to this amount even though gas prices continue to rise!!
• Through a variety of methods (snowflakes, budget leftovers etc) increase amount in Crofters Lane jar from $360 to a minimum of $650 by June 30 -actually had about $1500 so major success!!

Personal Goals 2010:

• ride stationary bike 3-4 times per week and record mileage in sidebar YES!!
• lose 10lbs by 2nd anniversary (April 18) NO!! a little late on this one!! I have lost those 10lbs now and am looking to reduce another 10lbs. but not setting a date!
• list books I read in my sidebar; read one non-fiction book for every five non-fiction books I read (increase learning) YES, but I forgot to add them to my sidebar...removed sidebar after awhile :(
• plant 50 trees at Crofters Lane this summer NO - more like 20
• declutter the basement by June - MAJOR FAIL!! DUE TO SELLING THE TRAILER MY BASEMENT IS MORE CLUTTERED THAN EVER!!
• organize my cajillions of digital photos by the end of January - SUCCESS!! HOWEVER I HAVE A CAJILLION MORE TO ORGANIZE!!
• make at least one person laugh each and every day - PROBABLY NOT EVERYDAY BUT PRETTY DARN CLOSE!!
• use http://www.spendingdiary.com/ daily to track my spending - FELL OFF THE WAGON OVER THE SUMMER BUT BACK ON NOW! 
• get out into nature a minimum of once per week - yes!! SUCCESS!!

I feel pretty darn good about how I did over the past year, especially with paying down debt. My line of credit was at an all-time high of $56,250 after purchasing my house in PEI in August 2010. I exceeded my debt reduction goal by almost $10,000 - that ain't chickenfeed my friends!!

That was the first time I ever put my financial and personal goals down on virtual paper. I'm happy with the choices I made but after living with them for a year I can see where I went wrong, where my priorities were a bit confused and now know I can zero in on more precise & more relevant goals for the upcoming year. 

After I sleep on it I'll get busy.

Part Two Tomorrow!  SETTING GOALS FOR 2011-2012!!

• PpppppppppppppSave another $5000 for my TFSA (at $650 savings/month this should by attained by August, 2010)
• Save $2400 for RRSP contribution (at $200/month beginning March 1st this goal will be reached in time for next year's taxes (Feb.29/12)
• Save $2250 to add to my Emergency fund bringing it to a total of $3000 by year's end
• save $1500 for Christmas by Dec. 2011
• Pay a total of $17,400 towards debt by Dec. 31/2011 (this includes $1200/month on Line of Credit and $250/month on PEI mortgage
• maintain $100/month to World Food Program (now on automatic withdrawal so I won't miss a month due to forgetfullness!), and make six NEW Kiva loans this year ($150) in addition to reloaning the $$ that is repaid to me from previous loans
• TRY to spend a maximum of $225 twice a month on groceries
• TRY to spend a maximum of $100 twice a month on gas (this will work out til the end of June and then will have to adjust due to doing a ton more driving in the summer - like to PEI!!! My Crofters Lane jar will help to cover summer driving.
• Through a variety of methods (snowflakes, budget leftovers etc) increase amount in Crofters Lane jar from $360 to a minimum of $650 by June 30

• ride stationary bike 3-4 times per week and record mileage in sidebar
• lose 10lbget out into nature a minimum of once per week