2014 Goals – January update of my 2014 goals
At the start of November, I posted my 2014 New Year Goals & Resolutions.
2014 Goals – December update
In summary so far:
Year to Date progress
2014 Goals – Top 3 successes
These almost pick themselves given that I’m only succeeding in 3 of my 12 goals right now.
Goal 2 – Despite markets falling in the month, I was able to increase my net wealth in January. This is a key goal out of the 12 and so I am very keen to have hit a pass in the month and be ahead of schedule for the year.
Goal 6 – I was also able to put aside another £1k to top up the stock & shares ISA in April.
Goal 9 – And…another £500 saved towards the wedding. We paid a deposit to the venue, which is in line with what we had planned, so financially this is going well so far!
2014 goals – Top 3 Failures
A few more to choose from, but in reality most aren’t as bad as they look.
Goal 3 – I was very much on course for this goal in January, saving 65% of my income, even after booking our summer holiday and going skiing twice in January (we are now the masters of skiing on a budget)! However, I was hit with an unexpected tax bill of around €1k, which put a serious dint in the month’s savings. Oh well, these unexpected hits are why I’ve given myself the “12/14” buffer.
Goal 5 – This one is an accounting issue!! We have decided to pay down a significant chunk of the rental property mortgage because we are stuck on a very poor rate. We incurred an over-payment charge on part of the payment which I have placed against this month’s profit. Therefore, we noted quite a loss in this month, but that will increase our profit by around £200 per month going forwards and hence should help greatly towards the goal over the year.
Goal 7 – This month, I received £0 in dividend income. However, this was entirely expected as very few companies pay their dividends in January. Therefore, currently a “FAIL” but nothing to worry about.