2017 Goals

Hey guys! This is a look at my current goals for the year of 2017. I will be tracking my progress against these goals throughout the year and making updates on them as we go. For the most part these goals are fairly conservative as it is my first year investing and I’m still learning the ropes.

2017 goals:

Increase Net Position by $6000 

This is my most important goal for the year. If you haven’t already, you can check out my dreary Net position here. I realise this isn’t a  very large amount in the grand scheme of things but  for a student like me this will potentially be tough.

From writing there is a little over 8 months left in 2017, meaning I need to commit $750/month to this goal.

The next three goals relate to how I plan to achieve this.

$2000 Invested in stocks 

Increasing my stock portfolio to $2000 will greatly help my net position for 2017. As of writing this I have $500 worth of stocks in my portfolio so I will need to increase this by $1500 by the end of the year which amounts to $187.5/month.

$2000 Saved

The bulk of this saving will be aimed toward a future deposit towards a home, as I am still a student and living at home. This goal may be harder to achieve than others as a holiday may be on the cards later in the year.

At this point in time I have $615, meaning my monthly saving goal for this year will be $174.

$3000 Debt Reduction 

This should prove the most important to increasing my net position in the long term. I have previously paid off some debt this year but I’m aiming for $3000 from now. This means I need to pay $375/ month off my debt. Important to note that 60% of this is personal debt I owe to my mum who is kind enough to not ask for interest.

Save/ Invest 15% of income

I believe this is a reasonable number to aim for and should help me reign in my expenses on a monthly basis. If I achieve the four goals previous to this, it should be a piece of cake but due to my casual employment I can’t put a number on how much this will be.

Receive $100 Total dividends

Pretty self explanatory but may prove hard. At the moment I only own shares in WAM and I have received $14.40 in dividends from them. I would consider it a pretty good first year of investing if i got back $100 in dividends.

The next few goals relate to this blog

Earn $1 from this blog

Setting the bar super low for this one. As I still learning about blogs and monetisation, this $1 will represent the culmination of the knowledge I hope to accrue.

Average 3 Posts/Month

This is to help keep me committed to the process. Hopefully it should be fairly easy, between a monthly update, purchase updates and some student investing tips.

Organise Superannuation  

You’d think this would be the easiest task but I have spent two fulls days on this already this year. Between changing address and an incorrect DOB in one account consolidating my super has proven a chore. I hope to have them consolidated without losing too much in transfer fees in the near future.

Maintain a GPA of 6.0

This goal is for the remainder of my degree. I’m hoping for a big year from my personal finances but while I enjoy this process it is important I don’t lose focus from uni.

Add a Second Income Stream

If I manage to achieve this goal it should make most of my financial goals much easier. Whilst I the work I currently have is consistent, I could always use more. Hopefully I can find some form of small side job to help create more income for myself.

So those are my goals for 2017. Thanks for reading, if you have any questions or suggestions please leave a comment. This is a huge learning process for me so I am always open to hearing  what you guys have to say.

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9 thoughts on “2017 Goals”

  1. Great list of goals, and really impressive that outlining your goals is one of your first posts. Organising your thoughts and creating a solid direction to aim for is a big part of being successful at the end of the day.

    I see you’re aiming to build your savings, for a house? have you considered building a small emergency fund as well?

    Mrs DDU

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    1. Thanks for the great comment! I tend to get nowhere without planning so goals are a must for me. In regards to the small emergency fund, I’m slowly growing that as well. Of the $615 I already have saved about $100 is currently a holiday/emergency fund. Would you suggest having a separate dedicated emergency fund?

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      1. Good to hear that an emergency fund is on your radar too. We have our emergency fund money in its own account to keep things nice and simple (and bonus that any bank interest is slowly building the EF too), but different strategies work for different people of course 🙂

        Mrs DDU

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          1. No problems! We have set budgeted savings amounts for certain accounts each month – $200 into building our emergency fund (the value of it is about 3-6 months of our expenses currently and we are slowly building with no set target in mind, but a year would be nice), $200 into an account building up for IVF for a second child and $1,000 for investing per month.

            Having the money set into our monthly budget (and transferring it on the 1st of each month) makes it easier for us to count the money as “used” rather than considering it to be money we can use for other things. I hope you don’t feel daunted by how much we save, it has taken a few years of payrises to make these amounts happen and there are two of us compared to just yourself :). I’m sure you’ll have some great income levels over the coming years once you graduate, just don’t let that pesky lifestyle inflation gobble up all your hard earned dollars!

            Mrs DDU

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            1. Thanks for being so open about all of this as it gives me a ballpark in what to aim for with my emergency fund. I do the same thing with my saving, just in much smaller increments (haha) and on a fortnightly basis which is how I am paid. I think I will definitely look to have an account purely for emergency purposes rather than for emergency/holiday. I do worry about lifestyle inflation on occasion but I will figure that out when I get there

              Thanks again for your comments and for the insights into how you manage it all. It’s a great help!

              Liked by 1 person

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