Friday, January 1, 2016

Financial Resolution 2016

As with all new years, resolutions are always made. I set out to cut expenses and increase revenue last year, and i shall have similar goals this year. However, i will be more specific this time round.

As they say, targets should be a little of a stretch, so i shall try to streeetch it a little.

(1) Save $12,000 in 2016 for myself. I didn't managed to achieve this in 2015, and i shall aim to accomplish this. This amount shall be invested when good opportunities arises. That is $1,000 a month, and hopefully if i do get SOME bonus and tightening of my belt in some ways, i should be able to achieve this.

(2) Continue to build up buffer in each of my expenditure category in YNAB.

(3) Increase my annual passive income by $500 by the end of 2016. Have deployed some of my savings a.k.a war-chest in Q3 of 2015 when the markets took a tumble. Hopefully the full year contribution of the deployed cash (and additional returns from deployed savings into investments) would be able to come into play and help me achieve this increase.

Have you made any goals?

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