This post is on the review of my 2009 financial goals.
It has been about 2 weeks since I last posted on my blog. Because I had been pretty busy lately. Last week, I just submitted my mid-year performance appraisal at my workplace.
And it reminds me of the mid-year review of my own 2009 financial goals.
From time to time, I did take a look at my 2009 financial goals as it is stuck on my bedroom notice board. The best feeling would be, when I completed a goal, I place a ‘tick’ by the side of the goal.
Because this provides me with the energy to achieve more goals.
A review of my 2009 financial goals
And this is the status of my 2009 financial goals:
1. Increase my annual income by at least 10% (to be completed by December 2009)
Status: In progress.
Hopefully, I can make it by December 2009
2. Moving the money from my emergency account to fixed deposit accounts
I don’t want my emergency account to just sit in the saving account and earn very low interest. Moving the money to the fixed deposit accounts not only benefit me but also to the banks and society. So that the money can be put into good use.
Status: Completed mid of Jan 2009. I moved partial of the savings to my unit trust funds due to the low-interest rate for fixed deposits.
3. Invest in a new unit trust fund
This time, I want to invest in an equity fund. (to be completed by June 2009)
Status: Completed on 2 July 2009. I invested in PB Growth Fund. Timing is just nice as the price on 2 July dropped after PB Growth Fund announced its dividend of 7.50 sen per unit.
4. Continue to top up my existing unit trust funds (all year long)
Status: In progress. I only top up on selected funds.
5. Keeping a separate file for each of my unit trust funds
Currently, all my unit trust funds details are in the same file. It’s time to separate them.
Separating them will make my fund monitoring easier.
Status: Easy. Completed mid of Jan 2009.
6. Monitoring and top up my Public Bank Gold Investment Account
Status: Haven’t to up yet due to the high gold price.
7. Monitoring and review my insurance plan
Other than monitoring and reviewing my insurance plan, I am also considering the need to increase existing coverage or to purchase second insurance. (to be done by Sept 2008)
Status: In progress. Perhaps will increase my medical coverage.
8. Terminating my unused credit cards
Other than terminating unused credit cards, I am also planning to concentrate on 1 credit card with another two as a backup.
I must ensure that the active and backup credit cards are without the annual fee. (to be done by June 2009)
Status: Not very easy as I thought it would be. Anyway, completed end of March 2009. Now, I only have 2 credit cards.
9. File and submit my income tax early
Status: Completed 20th April 2009 through IRB e-Filing.
10. Continue with my ‘fun saving’ account
My fun saving accounts keep all my fun expenses. This includes fun expenses for my family and for myself.
It feels great to be able to provide some fun money throughout the financial planning journey. Life can’t be serious all the time, right?
Status: In progress.
Final thoughts
So, I completed 5 goals and I still have another 5 goals to achieve within 6 months. And I am quite happy with my 50% achievement.
How about you? Do you keep track of your financial goals?
Hi Yan,
Well planned out. I think it's important to have our financial goals reviewed every now and then. 50% is a great achivement. I need to review mine shortly. ^^
Yan,I do have financial plan and goal for myself but never think of listing out all these while.I think I should do the same for the second half year of 2009 to keep track for the goal that has been set. Thanks a lot for your advice.
Ching Ya, Thank you. Yes, reviewing is as important as planning for it.
Margaret, By writing it down, I find that I am more committed. Hope we all can achieve our financial goals and lead a meaningful life.