Well ladies and gentlemen it’s that time again, time to go back and see how I did on the goals that I set back at the beginning of 2019. Do you go back and review your goals? Looking back at 2019 I believe it to be a successful year in general. With the stock market rising my net worth has been growing. My dividend stocks for the most part continue to raise their dividends which increase my income. I achieved something pretty huge which I will discuss down below. On the job front I received disappointing news in May that took effect in September, slowly I’m bouncing back in hours that I lost. On January 8th hopefully I will find out if I got a new school which would get me to working 40 hours per week. I have to confess that I need to and should start reviewing my goals throughout the year. When I went back to see what I wrote in my goals post I discovered a goal that I completely forgot about. For 2019 I had set 8 goals in three categories (savings, investing & health)
2019 Goal Results
Goal: Have $15,000 in a high interest savings account. RESULT: FAIL
When I mentioned above forgetting a goal this is the one. I completely forgot about this one, looking back if it makes sense I’m glad I failed. I say that because I just randomly threw out the $15,000 number with no plan for it. At year end I actually have five high interest savings accounts. In 2019 I opened an account with EQ Bank and you are allowed to open sub accounts so I have four accounts with them. My fifth account is with RBC I use that at the moment as my emergency fund account. Altogether these accounts hold $7,084.95 so not quite half of the total I set out for. Even though the dollar amount is low I’m actually happy with it, now I have given my accounts names and know what I want to do with them.
Goal: Become Debt Free Result: Success
This is a goal that I have wanted to achieve for the last few years. I was tired of owing people money. At the beginning of 2019 I owed $10,054 ($5,054 on my car and $5,000 to my parents. By the middle of August I was throwing all the cash I could at these debts and was able to pay everything off. I made the decision in late July to try and pay these off because in September my hours at work were going to drop from 40 per week to 12.5. My debt payments probably would have taken everything I earned.
Goal: Stop Having a One Tracked Mind Result: Fail
I put this as a goal to try and better help my overall finances. Far to often I get laser focused on one thing for example investing over savings, whereas it’s probably better to invest and save at the same time. In 2019 I was doing ok with this up until July when I put all the focus towards debt repayment. Once the debt was gone though I forgot to go back to saving and investing. Since I didn’t stay consistent with this strategy I will give myself a failing mark.
Goal: Get A Travel Rewards Credit Card Result: Success
I succeeded with this goal in October I signed up for the TD Aeroplan Visa Infinite card. In the future I would like to do some more travelling. The signup bonus for the card offered a chance at learning 40,000 aeroplan miles within the first three months. I should hit this number when my account is updated in mid January.
Goal: Receive $8,000 in Dividends Result: Fail
I came really really close you guys I finished with $7,506.03 in dividend income. In 2018 I finished with $5,994.57 so I achieved growth of 25.2%. I will take that growth anytime 🙂 Even though I didn’t reach my goal I am very happy with the income growth. Hopefully I can keep it up in 2020.
Goal: Invest $15,000 In My Tax Free Savings Account Result: Fail
Over the last couple of years I have been focusing more and more of my investing into my TFSA account. The reason for this is because the money is tax free if I ever need to withdraw it. Whereas with my other two investing accounts (RRSP and LIRA) I will be taxed once I withdraw that money. So my current plan is to max out my TFSA account before focusing on the RRSP. When tallying up all of my contributions throughout 2019 I only invested $6,223.60 in my TFSA, it felt like so much more so I had a big miss for this goal.
Goal: Lose 25 Pounds Result: Fail
I failed at this goal as well. Early on in the year I weighted 224 pounds, when I went to the doctor’s office in August I found out I had gained 17 pounds. I was very disappointed with this news because I had been walking back and forth to work (35 mins each way) during the summer I thought that would help lose more weight. So a couple months after that appointment I kind of pouted (no better word for it) and went a little crazy with the foods I ate and drinks I consumed. I haven’t looked at the scale lately in fear that I gained a lot of weight, but now I am behaving better and incorporating more fruit into my diet and watching what time I eat. Hopefully 2020 I can get back to losing the weight I put on.
Goal: Walk A Min Of 70,000 Steps Per Week Result: Success
This was an easy success for me, when setting this as a goal I didn’t know how many steps I was during per day at work and on the treadmill at home. I was usually averaging around 17,000 per day so way over my goal.
So looking back at all my goals I was only only able to achieve three which is disappointing. I feel pretty good about my savings goals I was able to become debt free which means I will have more money in 2020 going towards saving and investing which helps future me.
So how did you guys do with your goals? Please feel free to let me know below.
Thanks for reading