Whoa, 2017 was one fast year. I do not recall going through a year that seemed to go by as fast. People have told me babies can have this effect, I just was not aware of how true it was. I am geared up for new challenges and experiences in 2018. So let’s take a look at my goals for this year.
1. Savings Rate of 55%
There are many different opinions on how to calculate your savings rate. To me your savings rate is the amount you were capable of saving versus how much you actually did. For me this is all pre tax accounts plus all post tax money that was invested or used to pay down mortgage debt principal.
Physician on FIRE has a great calculator that is in line with these assumptions. Using this, our net savings rate last year was 39%. We had some home renovations and purchased a second car last year so there should be less major expenses this year. Although we will be starting childcare so that is a large new expense.
2. Lose 10 Pounds
As a single guy I did not take very good care of myself. Things got better once I met Mrs. Widget and I got into fairly good shape. Leading up to and since the birth of Baby Widget it has become harder to eat well and stay in a good workout routine.
Living a healthy physical life will help me in personal and professional life as well. I find that I am just generally better at all aspects of life when I am in good shape.
3. Read Two Personal Finance/Investing Books
I am a true believer that reading is the best way to increase knowledge that can be used to make better future financial decisions. I will probably do a few searches and pick from books near the top of most lists. Let me know if you have a suggestion though!
1. Help Other Bloggers
I know what you are thinking, Mr. Widget you are such a suckup. Well yes and no. As I have written before, helping others is my main reason for starting a blog. This means helping all people achieve their goals, including bloggers. After all, bloggers are people too. At least I think they are, I have never actually met another blogger before. For all I know computers are generating all of the great posts I have read.
I am not sure there is a great way to quantify this goal yet, but maybe it will come to me as the year progresses.
2. Attend FinCon
I was just launching my blog when FinCon 2017 was happening so I did not have time to go. Count me in for this year as I have already registered for FinCon 2018 and booked my room! Can’t wait to meet and interact with so many great people!
It is also nice that these expenses are tax deductible through my LLC!
3. Create 60 Posts/Updates for the Year
Before starting, I set a goal to post once a week on Wednesdays. I will try to maintain this throughout the year and add in some extra posts to react to real time events. Also included in this number will be once a quarter updates on how I am progressing on my goals.
4. Make $12 for the Year
One dollar is infinitely more than I have ever earned online. Multiply this by twelve and it seems like a lofty goal. Perhaps it is not, but you have to start somewhere.
I am certain this goal will increase in the future, hopefully with the help of goal #5.
5. Take Affiliate Marketing Course
To aide in achieving goal #4 I have signed up to take the Making Sense of Affiliate Marketing course created by Michelle over at Making Sense of Cents. I have heard nothing but positive reviews on this course so I thought it was worth a try.
Let’s go 2018
Last year was such an amazing year for the Widget household that this year probably cannot compete. There are some great things to look forward to though and maybe there are some good surprises that will come our way!
Happy New Year to everyone and I hope 2018 turns out to be a great one!