2014 New Year Resolutions – Update on my 2014 goals

At the start of November, I posted my 2014 New Year Resolutions. It probably reflects my personality (I may be a little impatient at times), but I couldn’t wait to get started. I recorded my 2014 New Year Resolutions (personal and financial goals) early and started working towards them straight away!

Unfortunately, things took a hit (quite literally) as soon as they started. I had a cycling accident at the start of November and a couple of goals had to change a little. Therefore, here is my progress against my revised goals.

 

2014 New Year Resolutions – November update

In summary so far:

 

 

 Goal 1 – Increase net wealth by over 56% – PASS – 5.54% compared to 3.25% required

 Goal 2 – Positive net wealth growth 12/14 months – PASS

 Goal 3 – 60% net income saves 12/14 months – PASS – 78% net income saved

 Goal 4 – Pay £7,000 off mortgage capital – FAIL – £491.46 paid compared to £500 required

 Goal 5 – Make £700 profit from rental property – PASS – £65.83 earned compared to £50 required

 Goal 6 – Fill 2014 stocks & shares ISA – PASS – £1000 invested compared to £840 required

 Goal 7 – Earn over £450 in divident income – PASS – £76.41 compared to £32.14 required

 Goal 8 – £700 profit from moneystepper – FAIL – £23.59 compared to £50 required

 Goal 9 – Save £6,000 for our wedding – PASS – £500 saved compared to £428.57 required

 Goal 10 – Do 42,600 sit-ups – FAIL – 800 compared to 3,043 required

 Goal 11 – Eat under 2,500 calories 365 times – PASS – 27 days compared to 26 required

 Goal 12 – Visit 5 foreign countries – PASS – 1 compared to 0.4 required

 

Top 3 successes

Goal 1 – This month I was able to increase my net wealth significantly. A great start to my 2014 New Year resolutions! Quite frankly, its amazing how little you spend when you can’t get out of bed for two weeks!!

Goal 7 – Dividend income was far higher than expected. However, this was because my two highest yielding stocks both paid their final dividend in the month. I expect this to return to the mean in coming months.

Goal 12 – A 3 week trip to China in October / November adds my first foreign country visited.

 

Failures

Goal 4 – The capital mortgage repayment was just under the amount required per month. However, my total repayment is restricted by overpayment charges. Going forward, my total repayment will remain constant. As I pay down more capital over the year, the interest will reduce each month. Therefore, my capital repayment will increase over time.

Goal 8 – moneystepper profit is significantly below the desired amount. However, given that the site is relatively young, I hope that this will increase as the year goes on.

Goal 10 – My accident meant that I couldn’t do any exercise for the first 3 weeks of the month. I have some catching up to do here!

 

2014 New Year Resolutions – get started early

I’m really pleased that I documented my 2014 New Year Resolutions and goals early this year. I know a lot of people who are going to do X, Y and Z in the New Year. These things they have planned will significantly improve their lives. However, they are doing nothing towards their goals today. Why? Because they have this arbitrary start date in mind.

So, what are you waiting for? Record your 2014 New Year Resolutions and get started today!!

Need some more ideas, here are 100 to get your started.

How are you guys doing in your goals? Have you started setting your 2014 financial and personal goals yet? What will your 2014 New Year Resolutions be?