I love the new year, don’t you?
A time to take stock of what you’ve accomplished, what matters most to you, and where you want to invest yourself in the coming year.
Yes, it’s that time of year once again, so let’s see where we are here at Enwealthen HQ.
So how did I do on my 2014 goals? In a word: embarrassing.
- Budgeting: automated income allocation in place, and living on 50% of income
- Verdict: Fail, pushed into 2015.
- DRiP: $1,000 invested in a single DRiP plan, automated reinvestment in place, shares gifted to family
- Verdict: Partial success – we’ve saved the money, but still need to buy the stock.
- Peer to peer lending: Open Lending Club account and invest $5,000
- Verdict: Partial success – we’ve saved the money, but still need to open the account.
- Blog: Alexa rank under 100K, 500 daily visitors
- Verdict: #epicfail given my unanticipated hiatus
Hmm. Pretty dismal report card, if I do say so myself. However, I did do some spectacular extra credit.
If you’ve read How to Get Married Without Going Broke, you know Mrs. Enwealthen and I were married not too long ago. Now 2014 is the year we welcomed bouncing, baby Enwealthen to the family, with devastating impact on my time and energy for writing.
Naturally, while thrilled at the change we can’t help wondering how it will impact our finances given Mrs. E. will be a stay-at-home mom for some time to come. You can expect to see some child-focused financial tips in the future as I come up to speed with this newest aspect of our financial landscape.
As newly appointed Daddy Enwealthen, I’m learning the ropes of fatherhood, the most obvious being there’s never enough time. So even though I failed in my goals for 2014, I’m still chomping at the bit to get started on 2015.
“You never fail until you stop trying”
– Albert Einstein
Deja vu all over again: Financial Goals for 2015
No way to sugar coat it.
But it is a great incentive to succeed, so my goals for 2015 are similar, but with a twist – deadlines. If you’re like me, you work best under a deadline, so I’ve given myself one for each goal.
- Family: Set up 529 or other education savings system by March 1, 2015.
- Budget: budget categories and percentages set and income automatically allocated by May 1, 2015.
- Peer to peer lending: Lending Club account opened and funded by June 1, 2015
- DRiP: first share purchased and enrolled in program by September 1, 2015.
So you can expect to see more on these topics this year as I make progress on these goals.
That’s what I’m focused on this year. You’ll notice it’s a shorter list, with fewer success criteria. If I know one thing, time spent in planning, preparation, and prioritization repays itself many times over when it comes time for execution. By focusing on these 4 goals, I give myself the permission I need to say no to all the distractions that come up during the course of a busy life. We’ll see on March 1 just how well this new approach works.
“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.”
– Abraham Lincoln
How about you? What’s most important to you and your family’s financial health in 2015, and how do you make sure you achieve the goals you set?
Image of “Stop and Think” courtesy of PinkMoose.