Happy belated New Year to you all!
The only thing that I’m certain of this year is that it will be different.
There’s a good chance that it will be better (I started it off with a great holiday!) but as there’s no guarantee, there’s also a chance that it could be worse… In any case, I’ll be doing my utmost for it not to be the latter!
Anyway, back to the main topic…Goals!
I only set 5 goals last year and the focus on just a few goals seemed to work well for me so I’m going to do something similar for 2017.
So without further ado, here they are:
2017 Financial Goals:
- Average 50% savings rate – Same old, same old! I have not been able to achieve this goal yet (3 attempts so far!) but I just feel that if I can nail this (while working), and continue to keep my living expenses down, it’s the best way to make progress on increasing my Future Fund. A very challenging one in any case, considering my current unemployed status but hey, may as well aim high! This month and the next two will be covered by my pay in lieu of notice so I will aim for 50% for these 3 months anyway – will see what happens after.
- £1,500 total dividend income – Last year, I surprisingly hit the £1,000 milestone in total dividend income. This is another tough goal, as in order to increase my dividend income, I need to invest more capital. Transferring my work DC pension to one of my SIPPs will help towards this goal, as I’ll stick the transferred funds into income-paying ETFs. If I can get an average of >£100 per month, I’ll be very, very happy.
- Earn £4,000 Matched Betting (MB) income – This number may not seem very ambitious considering the earning potential of MB but I still think this won’t be an easy one for me. Given that I’m not working, I could/should be doing some MB during the day but that doesn’t appeal to me and I still consider MB a hobby, I don’t want it to become a chore. There’s also the real threat of getting more of my betting accounts ‘gubbed’, (where I can no longer take advantage of free bets etc) but let’s hope I can continue to rake in the profits.
2017 Non-Financial Goals
- Borrow and read 20 library books – The same as last year’s goal. Borrowing from the library means that I spend less on books but also means that I am supporting my local library services. I’m going to try to read a total of 30 books this year (I track my progress here via Goodreads), of which at least 20 must be borrowed from the library.
- Read 3 non-fiction books – Last year’s goal was reading 3 finance-related/investment books. This year, I’ll broaden it out to just topics that interest me (including financial and investment topics). Doesn’t sound like much but as I’ve said before, my passion is reading fiction so this is a challenge for me! Hopefully, I can borrow them from the library so I can work on two goals at the same time!
Charity Goal – Down the Toilet?
As per last year, I will continue to donate at least 10% of my MB profits to charity, so if I hit my MB goal this year, that will be £400. The main charities I donate to regularly are Age UK, Macmillan Cancer Support, British Red Cross and Magic Breakfast. I also fund ‘charity loans’ via Kiva.
Anyway, this year I will set myself a charity goal, which will be with Toilet Twinning:
2.4 billion people don’t have somewhere safe, clean and hygienic to go to the loo[footnote]also known as toilet, lavatory, WC, bog, privy or bathroom, plus some other names not mentioned! [/footnote], something that we’ve taken for granted every day of our lives.
Toilet Twinning is a simple way to solve a serious problem and save lives.
You can twin your loo (like towns are twinned) with a latrine halfway around the world, in a country of your choosing. For a larger donation, you can twin with a school block or with toilets in a displacement camp.
My goal is to twin with a School Block of toilets (donate £240), as well as continuing to support above-mentioned charities. My donation will help build a block of toilets at a school, providing safe, clean and hygienic sanitation and also help fund hygiene education and clean water projects.
While Huw’s formidably aiming to build an entire school with his charity aims, I’m just going for the loos – small but just as important, we all know what it’s like when we need to go! 😉
The lack of a loo in certain developing countries makes women and girls a target for sexual assault as they go to the toilet in the open. Many get bitten by snakes as they squat in the grass! Having no toilets to go to in school, girls often drop out at puberty.
I hope my donations will make a difference to people’s lives.
The following aren’t goals as such but new things that I will be doing in 2017:
- New Job – I will have a new job at some point.
- New Hobby – When thinking about what I want to do in my spare time when I’m retired, learning to play a musical instrument is high on my list. Although I’m not musical at all – I didn’t progress past the recorder and glockenspiel at school and I don’t think the triangle counts, haha – playing an instrument has always been something I’ve fancied doing. Anyway, I thought, why wait til I’m retired? So, that’s how I came to buy an instrument while I was out in Hong Kong, which I brought back with me! I’ll reveal more info in a later post! 🙂
- New Exercise – I found out recently that there’s a place near me where all comers can play netball. I was on the school team so the last time I played was when I was 17! Following the recommendation of one of my ex-colleagues, I thought I’ll check this out – I’ll attend my first session in the next two weeks. The extra exercise will supplement my gym classes as I need to shift some post-holiday poundage! Unfortunately, I’m suffering from a bad cold at the moment, so exercise isn’t on the forefront of my mind.
- New Man – errrrr…we’ll see! 😉
So that’s it for my goals – did you set any goals for 2017?
If so, good luck! 🙂