At the start of the year, I set myself 11 goals (mainly financial) and I record my progress against them on a monthly basis. Below is my 2014 Financial Goals update for October. With only two months to go, I’m getting there, but need a little push to get over the line!

You can check out my original goals which I started in November 2013 here:

2014 New Year Goals & Resolutions

Equally, you can find a 2014 financial goals update for each month within the 2014 goals section of the site.

 

2014 Financial Goals Update – October

October was solid. Another positive change in my net worth (which is the 7th month in a row where my net worth has gone up) and I managed to complete a couple more of my annual goals:

• YTD vs Total % shows my performance to date as a percentage of my total goal
• YTD vs Target % shows my performance to date as a percentage of my expected performance upto October (pro-rata)

As you can see from this update, I’ve almost achieved all of my annual goals!! With 5 goals outstanding, I’m ahead of schedule in all of them, and am already over the finishing line in two. However, for each of those, it would be possible for me to stumble backwards and end up back in the race. Therefore, I’m going to push on through to the end of December and only celebrate then!

 

 

2014 Financial Goals Update – Year to Date progress

 Goal 1 – Increase net wealth by over 56% – YTD PASS – 76.3% compared to 48.0% required

 Goal 2 – Positive net wealth growth 12/14 months – YTD PASS – 11/12 months (+2.6% in October)

 Goal 3 – 60% net income saves 12/14 months – YTD PASS – 11/12 months (62% in October)

 Goal 4 – Pay £20,000 off mortgage capital – YTD PASS – £19,306 compared to £17,143 required

 Goal 5 – Make £400 profit from rental property – COMPLETED – £400 full year requirement achieved

 Goal 6 – Fill 2014 stocks & shares ISA – COMPLETED – £15,000 full year requirement achieved

 Goal 7 – Earn over £1200 in dividend income – COMPLETED –  £1,200 full year requirement achieved

 Goal 8 – £700 profit from moneystepper – YTD PASS – £949 compared to £700 required

 Goal 9 – Save £6,000 for wedding – COMPLETED – £6,000 full year requirement achieved

 Goal 10 – Eat under 2,500 calories 365 times – FAIL – 300 days, not possible to achieve…

 Goal 11 – Visit 5 foreign countries – COMPLETED – 5 full year requirement achieved

 

2014 Financial Goals Update – Top Successes in October

One more goal completed this month and some good progress with others:

Goal 5 – An interest payment to the bank account which we use for our property investments took me over the magic £400 and this is now ticked off for the year. Woo-hoo!

Goal 1 – The FTSE 100 was fairly flat in the month, but I was able to increase my net worth by around 2.6% month-on-month nonetheless. I’ve now got a huge margin over my annual goal (loving towards double of my target) and hopefully I can keep the momentum going for the last couple of months. The amazing thing with this goal is that a 2.6% monthly increase now is equivalent to around 5% based on my figures from the start of the year. Ah, how I love compound interest?

Goal 3 – Despite some additional expenses for our move back to the UK, I managed to keep my savings rate over 60%. Again, fairly close to the wire at 62%, but its another tick!

 

 

2014 Financial Goals Update – Top Failures in October

Goal 10 – This was already a failure last month, but I’ve stopped tracking this now. To be honest, I’ve probably eaten better and exercised more since I stopped tracking this, so I don’t think that this goal was particularly conducive to obtaining the desired result. Time for a rethink for 2015…

 

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Let me know what you think of my 2014 Financial Goals Update for October in the comments below. Coming into the year end, how are you doing with your financial goals?