2015 was year of *Continuing the Good Work* both in financial world and in Self-Love. However, within few days into the year bad news started pouring in. My household lost 2 family members in last year. Age and illness was of course well known but I never knew it is going to be this tough before actually facing it. My family was devastated at one point wouldn't be an understatement. My priority suddenly changed to just taking care of everyone around me than anything else.
This new personal circumstances also resulted in noticeable increase in expenses of our household, but those were things I will never compromise on.
Some of the key takeaways are:
- Family is and will always be my number one priority, that’s how I am.
- Having money in bank gives you so much confidence and peace of mind and options when dealing with calamities.
- Baby's growth amazes me almost always. It makes me happy and sad at same time to see him grow so fast. Parenthood is unexplainable!
- Though my expenses were high last year, I was able to meet most of savings goals.
I just hope 2016 brings some much needed good news in our household, please spare some prayers for us, if you can. :)
Over to goals for 2016.
Hoping to have a solid year in terms of finances. And yes I continue to hope that Murphy decides not to visit us and we can pass this category.
- Networth: Let’s keep it same as good old 20%. I can bet, if I will meet this goal in 2016, I would for sure have to lower my number next year or really increase my take-home money somehow. *Fingers-Crossed*.
- Savings: Save 67% of total money (all salary + bonus + any other money). I am trying to finally reach my dream equation - spend 1/3th on today and save 2/3rd for *consolidated fund of future everything*.
- Retirement: Save 40% of net salary(inhand+automated) in retirement.
- Emergency Fund - 12X of monthly expenses as I otherwise believe in having risky portfolio at this age.
- Save all of DH's salary - This means we get to live on my salary + reimbursements. Should be totally doable.
Continuing "Love Yourself".
- Aim that I don't disturb baby's schedule on day to day basis, specifically when we have visitors.
- Spend at least one hour on my new job related studying.
Hope to succeedMust prepare myself to succeed in this category.
- Love myself - Continuing same, follow my routine rigorously, esp. of Walk, Bath and Pray and diary writing.
- Watch my spending - All other goals that you see in above are mostly same as last year one or a slight modification of them. However, this is one of the area that I have recently realized as my weakness. I am frugal person by nature, making do without things comes so naturally to me, but when I am purchasing, I am not very good at getting the best value of my buck. This year I am trying to set some guidelines for every purchase and improve myself as more savvy spender.
9 goals for this year, please wish me best of luck and I promise to
try and update regularly on my progress.