Financial Goals of 2019

I was already in the middle of December thinking about my 2019 goals, but to be honest I did not think of anything more original than last year. I have set 3 financial goals, one of them should be really easy but is important for me mentally, one I expect to be hard and one more of medium difficulty, so something for every occasion. So here we go.

My Financial Goals of 2019

• To have an income of 1800 € from my investments by the end of a year. This year income was a bit below 1200 € so this one might be the hardest to implement also as it does depend on if most of my investments also pay in time, and I am asking for a 50% increase compared to 2018. But if I take that my interest rate was 9,66% last year and base my calculations on my portfolio value of 31st of December of 2018 this should just be attainable, difficult but attainable. It is also specific, measurable (on average 150 a month), relevant and time-based. So it is a SMART goal. 

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• To have a portfolio value of 25 000 € by the end of the year. So this would mean about 5500 € increase compared to last year. If I did not receive any dividends and interest payments, this would mean that I need to invest about 460 monthly. As I hope to get almost 2000 in interest (see the previous point) that would mean I need to deposit about 310 a month. As I plan to be a bit more relaxed with my savings rate this year (as it was a bit too much for me last year), something like 350 on average to deposit to portals would be good. So this would be a monthly goal to keep monthly deposits on average around this mark.

• And finally, after 10 years of paying, to get rid of student debt. To be honest, the payments schedule will end early in the summer so I do not need to do anything special for it, but it will feel so awesome to be finally debt free. I have been thinking of paying it up early but as there are quite some fees to change the contract to higher payments or to just pay it up and the interest was relatively low by now, I did not bother. Also, this means I might be shopping around for a new home bank as I am no longer tied to any bank beside LHV where my investments are, but for my day to day banking, I need to look around and see who offers the best deal (lowest fees, credit card perks etc).

On a more personal level and due to health issues I have promised to exercise at least 3 times a week. It doesn't have to be anything massive, even just 10 minutes of yoga is better than nothing. So the main goal is to keep up up a practice in long-term, to improve my general health is important for me. So let's keep the fingers crossed, and work for it as well of course :) 

Also if you would like to read a bit on SMART Goal setting I do have quite a good post on it. Go have a look!