It’s now July! The first half of the year has already passed. Time does fly so fast, doesn’t it? So many things have happened and I am still amazed at how this blog has grown steadily over the past 6 months. Before we welcome the next half of the year, I’d like to take this time to reflect and give you an update on my 3 financial goals for this year 2010.
Financial Goal #1 – Buy a House!
My first goal for 2010 is to Buy a House. The short update is…NO we have NOT bought a house yet. But maybe soon. 🙂
My wife and I actually invested in a house…but only for a private lending deal. Besides, we won’t actually own the house, so that doesn’t count. That deal, however, introduced us to great friends doing business in real-estate whom I am learning a lot from. In the next months I will also be spending some time to learn investing in real-estate myself.
We’ve also been looking at buying a nice 2-bedroom unit on a pre-selling mid-rise condo. But this one will NOT be ready for occupancy until April 2012. We actually paid the reservation already so hopefully, if everything is in order, my first goal for the year could actually be within reach (at least technically). :)
Financial Goal #2 – Invest 20% of my money
The second goal I have is to invest 20% of my money. I’ve started investing in the Philippine Stock Market. I’ve tried the cost-averaging method via CitisecOnline’s EIP and even Bo Sanchez’ SUPER EIP way! The experience has been an eye opener for me.
Apart from that, I also got into a private lending deal on real-estate. While I haven’t gotten my money back yet, I’m confident this will lead into more investing opportunities in the future.
Just last week, one of my friends also asked me to invest in her Travel Agency business. Normally, I don’t lend money unless I’m very sure I will get my money back. However, since I know her and the money (including interest) will be returned in just 7 days, I thought it was worth a try. If this deal goes well, I might be encouraged to invest again in the future and probably open it up also to dear readers of this site.
I’ve also been investing heavily on my personal development these past months. I’ve just attended the Money Summit and Wealth Expo last weekend to learn more about money, business and investing. The 2-day seminar was a blast! The energy from the speakers as well as the attendees was simply amazing! Up to now, I’m still digesting everything. I’m really excited to share the lessons I’ve learned from that seminar to our dear readers. So, watch out for that in the coming weeks.
Financial Goal #3 – Be Consciously Alive
The 3rd and last goal I have is to be consciously alive. This goal has more to do about my desire to live a healthier lifestyle than anything else. This is the reason why I think your health is more important than your money.
While I’m not sick at the moment, my health has not been ideal the past few months. It is not where it is supposed to be. My lifestyle is not very good. I still drink coffee a lot. I am also having a hard time getting enough sleep. As a result, I’ve easily gotten a cold every now and then.
I’m always in a hurry. Most of the time, I go for fast food. My weight has increased so much that my pants now hardly fit. Oh well, it’s a good thing fitted pants are the “in” thing these days. I don’t have to feel so out of place. 🙂
One good news is that I finally used our condo’s gym. Finally. Just today. And I liked it. I’ll probably go to the gym more often now.
Quite honestly, this goal is a little bit vague to measure and be actually effective. So, to make this goal more specific, measurable and make me accountable :-), I’m revising it to say “my goal is to weigh 80 kilograms by December 31, 2010”. I only have less than 6 months to go so I better get started right away! Wish me luck!
P.S. Dear Readers, what financial goals do you have for the year? How have you made progress on your goals now that the first half of the year has passed?
Wonderful post Allan! Reminds me to balance my life as well, I haven’t been able to exercise at all lately, not to mention I have not been consistently tracking my finances, although I’m sure I definitely have positive cashflow. 🙂
Thanks Jay for the encouragement! I’m sure your finances are more than great. More power!
My account in CitiSeconline just got approved yesterday. I want to invest though EIP however, the initial deposit they required is P25,000. Is this the correct initial investment?
I appreciate your reply. Thanks.
Hi Jezz! Congratulations! Yes, that’s the initial amount that you would have to deposit into your CitisecOnline account. In my case, I didn’t have the P25,000 that time so I asked the COL agent if it’s ok to deposit P5,000 first just to have my account activated. They were very accomodating. I was able to activate my account even though I only deposited P5,000 initially. But I did deposit P20,000 again into my COL account a couple of weeks after since I was so excited to buy my first stocks. You can give them a call @ (632) 6-333-777 or email them thru firstname.lastname@example.org for more details. Hope this helps! Good luck on your stock investing! 🙂
Okay, now I understand. I’m excited about this. I look forward to a fruitful return in the long run.
Thanks, Sir! More power to you.
You have a good financial plan for this year Allan. I hope you achieve them all especially on buying a house. As for me, I don’t really have financial goals for this year. What I have in mind is finding ways to earn outside of my current job. 🙂
@Walter! Thanks for the encouragement! Finding ways to earn outside of my current job is a goal I am also constantly working on myself. Good luck! 🙂
We share the same dream of owning our own house! I just live in a condo right now which I’m really, really, really hoping to put on rent to earn passive income if things fall into place (for the next 2 weeks!). Otherwise, I’m gonna have to wait a while until I can come up with some other plan… (not very proactive as Jay mentioned in his post! Lolz!).
Other than that, it is also my goal this year to invest some money on either mutual fund or stocks. I just wanted to get started and I know it’s the right choice.
More success to you and I know you can achieve those goals!
Financial Goal#1 – Debt free by January 2010. Completed
It’s nice to sleep at night without worrying about banks calling me on my financial obligations.
Financial Goal#1 – Raise my Pay Yourself Funds from 50% to 60%. In-progress by end of September.
I want to master the art of disciplined savings but not to the point of depriving my life and family’s enjoyment and leasure.
Financial Goal#3 – Share personal crusade and advocacy for DIY (do-it-yourself) Pinoy finance management. In-progress
Nobody cares more about your money/finances than you do.
See my facebook fanpage here http://www.facebook.com/pages/Free-Pinoy-Financial-Checkup/345188348578
Financial Goal#4 – Start my own financial related business (savings/investment brokerage business) while working as an OFW. In-progress by end of December.
Through guidance of a financial mentor, I want to complete the business setup here in Dubai.
@Allan, welcome to RMH! Nice list you got there! Congratulations for reaching your first financial goal! I’m sure you will find a way to achieve your other goals in no time at all. More power! God bless!
Nice article you have here.. just like what i mostly read at http://www.pesorepublic.com/db/all-about-mutual-funds-uitf-vul-investing/ nag iipon din ako at naghahanap ng ways to earn…
@Henry, welcome to RMH! Good luck in finding ways to earn!
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