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A Break Down of My Financial Goals for 2016

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Before 2015 ended I shared my Personal and Financial Goals in a blog post. You can also quickly go to the link at my SavingsPinay's footer to read it. Now that it's March already I thought it would be nice to share a breakdown of my financial goals. In this post I'll also share the steps that I am doing and will be doing to achieve them all on or before the end of the year. 

I hope you love this post. Please go to my personal blog, IzzaGlino for my 2016 Bucket List.


Goal #1. Set Up Monthly, Weekly and Daily Budget


Budgeting is a part of the many things I'd love to master this year. I shared a couple of posts on how I budget and finding this super nice and effective notebook at Landmark is truly amazing. I write down my budget for the month then set up my budget for the week then track my daily expenses too. It comes with an expandable envelope which is nice to separate your cash on different budget categories. READ: My New Budget and Spending Tracker Notebook






Goal #2. Live Below My Means

The goal is to save more so I need to learn how to live below my means. Last year I became too much of a one day millionaire that I forget to save and just become impulsive when it comes to shopping. So How do I make sure to live below my means?

  • I always go with 100pesos budget on my lunch. Since 2016 came I avoid dining on fast food chains to save on lunch. 
  • No more breakfast at Mcdo in the morning. 
  • I make sure I go home early and not do any overtime at work so I'll be able to catch dinner at home.
  • Buy second hand books. I shared in my personal blog the five stores where I buy second hand books for your reference
  • I shop for makeup only once a month and make sure that I don't exceed the 1,500pesos mark.

Goal #3. Track my spending


Again using the notebook I bought in Landmark I enjoy tracking my everyday expenses. Yes it's an added step on your day to day and sometimes I do forget doing it but it is enlightening to know how much you spend in a day. READ: DIY Spending Tracker Notebook.


    Goal #4. Save Up for an End-of-the-Year out of the Country
      Now that's a big goal right there but I am preparing for it slowly but surely. If ever this goal will happen then I'll be at my happiest phase ever. This will take up a lot in terms of my finances so I want to be  extra ready. In preparation I've been doing a 1,000 per cut-off saving which goes automatically on my BPI Savings Account. If I'll be successful with this out-of-the-country travel fund I'll have a total of 24,000 pesos by the end of 2016 which I hope will be enough. Top of my priority is to get my passport by second quarter of the year so even if the out of the country trip didn't pursue I still achieve something from my personal goal. READ: Establishing a Travel Fund for Beginners

        Goal #5. Set Up an Emergency Fund

        I've talked about emergency fund and its importance for a lot of time already in this blog. One of the best goals I have set in my life this year is to set up an emergency fund and devote my efforts and not to mention my money in it. Hence, I decided to do the 52-Week Money Challenge. It is a quick and manageable system that can earn you up to 68,000 at the end of the year. More post about this HERE and HERE. 


          Goal #6. Invest in a New Investment Vehicle



          One way you can make money work for you is through investing. It is also a great way to transition your active income to passive income. READ: Three Types of Income. I am eyeing for a direct stock investment through COL Financial this year. I know I can only learn if I do it too and not just rely on books and blogs. I also wanted to have a personal experience on how trading works, when to buy and sell etc. I also love to invest my money to put up an online shop probably 2nd quarter of the year. I know there's a lot of competitors out there but I know my personal beauty and lifestyle blog IzzaGlino will be a great help in marketing. As much as possible I want to stick in selling items I love like makeup and ukay finds. Soon I'll let you know.


          Below are some Investing posts I've already published in my blog:
          1. Are You Ready to Ride? Here are the Investment Vehicles You Ought to Know
          2. Believing These 4 Myths About INVESTING Keeps You From Growing
          3. Investment Options You Can Try With Your Bank
          4. On Investments Gone Wrong
          5. PNB UITF First Impression
          6. St. Peter Life Plan: Is it Worth the Investment?
          7. UPDATE on my 2015 Investment Plans and Nice to Haves

            Goal #7. Be Organiaed in my Finances and Bills


            I am the biggest fail in terms of organization and I can't seem to find time getting organized with how my finances go. Yes I do set up my budget but this is about 10% out of the many things I still need to work with to finally achieve financial peace. I am planning to do a financial binder which will include almost everything that concerns my money. READ: How Much Do I Really Make?.

            Bills is another area where I suck. I can't help but ruin my bills and scatter them on my bag. I get a lot of teasing because of my bad habit of not keeping a wallet or having one but not really using it to organize my paper bills. I have a humongous wallet given as a Christmas present by one of my OJTs last year which I currently use so all my money are in good shape. No more crumpled bills, yehey!!! READ: Ang Wallet Kong Di Nauubusan ng Laman!!!



              Goal #8. More Education in Personal Finance


              I was about to enroll in the Registered Financial Planner program but my fears tore me apart. The enrollment is now over and I might resume this big financial goal next year or when there's a new opening. I am open instead for seminars and workshops about money especially by some of the best local financial bloggers I know. If you happen to know one please let me know... PLEASE!!!


                Goal #9. Become a Good Spender


                I once published a post on How to Correctly Spend Your Money but not I am not good in terms of following what I preach. This year I want to be a good spender and try not to ruin my budget anymore. Gone are the days when I live like a one-day millionaire and spend like there's no tomorrow. So what does it mean to spend correctly?

                          1. You spend with your means
                          2. You follow a spending plan aka budget
                          3. You are aware of your personal debts
                          4. You watch out of credit card debts
                          5. You create a financial file binder
                          6. You control what you can control 
                          7. You avoid impulse shopping
                          8. You tithe
                          9. You have an emergency fund
                          10. You don't forget to have fun

                  Goal #10. Make sure that there's extra income coming


                  Finally I want to really put an effort when it come to earning extra income this year. I had fun doing a Year End Extra Income Report last year and I want to do another this year. I have to make sure that there's income coming from the sources I have so far. My hosting services is on point and I have referrals and direct bookings!!! I am searching for new projects and clients in terms of freelance content writing.

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                  Again the list seems too big but I'd rather set up for the impossible than do nothing at all. A great habit of successful person is setting goals and slowly but surely I do hope I make quality progress this year. 

                                            What's you financial goal/s for 2016?

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