Kill It At Your Goals

Happy New Year!!!

The beginning of the year is a time of quiet reflection, of planning resolutions; of knowing you have the power to put yourself a different situation in one year. It’s a time when goals are outlined, promises are made to yourself, and vow to become the best version of yourself. What’s not amazing about that?

My advice when making goals is to keep them few and simple. If they can tie into each other, so the better. This year I have three intentions and they are all related. I know the SMART way of setting resolutions is popular, however I believe goal setting should be more intuitive.

What were your objectives last year? Can you grow on them and further challenge yourself? Make no mistake, in my view goals should be very challenging. I don’t rate myself as pass or fail, I rate myself as a percentage as to how close to my goal I got. Getting to 100% too soon might mean you made your resolutions too easy.

For my major financial goal last year, I was 94% compliant -success! It was a goal I didn’t think I could achieve, so that kind of blew me away! Here are my 2018 goals:

1) Increase my net worth by my salary

My goal is to increase my net worth by my entire salary- that’s pre tax to add some extra challenge. I pay about 30% in taxes, so already the math doesn’t sound like it’s going to work. However, I have rental income coming in from my condo. As you will see in goal #2, we hope to have more rental income soon. I may have to get a higher paying job to achieve this goal. And it’s possible that my investments and dividends might achieve more growth. I’m not exactly sure how I’m going to achieve this goal right now, which is very exciting for me, but I have some ideas.




2) Buy a house

Toronto is a fairly expensive market, and it’s not easy to buy a house. However this is precisely why we have made such a challenging goal. If we can stop listening to the nay sayers who moan over expensive housing, we might be able to work a miracle and buy a home. We need real estate with a rental basement apartment in order for this to make sense. We are working on increasing our savings, so that this goal can be achieved in 2018. This will help with goal #1, increasing my net worth, as some of the mortgage payments will be “saved” as principal, no longer spent in rent.


3) Just say no!

This one is harder to explain, but the idea is to avoid stress and needless expenditures. What I’ll be saying no to in 2018 is:

  • Lunches with vendors when I’d prefer to be at the gym
  • Wasting materials and consuming plastics
  • Mindless online shopping
  • Planning too many events after work
  • Meat products
  • Other people’s expectations (this is important with our wedding coming in October)
  • People pushing me to eat desserts that I don’t like
  • Buying food during the workday rather than making or bringing some

So, now it’s over to you. Close your eyes and picture where you’d like to be and how life could look in a year. Ok, now set a few goals around how you’re going to get there! One final tip, place your goals somewhere you will see them every day. I have an agenda which I pull out multiple times a day. That means I’m seeing my resolutions on the front page at least once a day. Good luck!

What are your 2018 resolutions and goals?