On January 1st, I set a number of financial goals, and will update every couple of months through the year. Here is the third review. You can check the January-February one here and March-April there.
The main financial goal was to grow my net worth by 30%. After spending over $40K in house renovations and the land development so far, I have not updated any of those assets’ value. As I explained from my hotel investment gone wrong, until someone is ready to pay for your house what you think it is worth, the return is not certain. I had not updated the potential returns on that investment either, so no NW drop. Since January, I am up 7.5%.
A little behind, although it is still a strong 5 figures jump and I expect most of the growth to come on the second half of the year via selling some plots on my 90 acres land.
Second financial goal was to pay $25,000 of debt that was used to finance several investments over the past years. I have paid $9,500 to close a loan in January plus $750 in capital each month and $7,700 on a 0% CC in June, totaling $21,700. I still have a $3,000 balance at 0% until December, the money is already on my account, bringing interest in the meanwhile. Just with normal monthly payments until the end of year, that is a PASS.
Sell plots on the 90 acres land to get back the purchase price. While we have some strong interest from potential buyers, we cannot proceed until we get the property split into 260 plots, and the council is taking its sweet time to process our application. Apparently when they give the green light we are free to sell, although it may take up to 6 months to get the final deeds. Buyers would still buy just with the council’s approval that guarantees they will get a property title, but we prefer not to. ONGOING
Not sell my cattle for extra money until the end of April. I sold the cattle mid April but not for extra money. PASS. It was very dry and they would have lost weight by not eating enough pasture had I kept them longer.
5 25 50 times more blog income than 2012. That goal was revised on May 1st. Here is the cumulated total.
January 1.11 times
February 6.06 times
March 12.15 times
April 16.85 times.
May 21.21 times
June 27.11 times
The blog income in 2012 was only for Q4. Things have really picked up since February and it looks like we are on target with this one.
Take a trip back to Europe: Went to France for four weeks in May. PASS
Take a trip to the US: I will be looking for last minute September deals or may go to Europe once more to enjoy my bike. I was bitten by the travel bug in my early 20s but now that I have my new house I haven’t gone around much and don’t miss it.
New goal: Make $3K on Make Money Your Way
My new website, Make Money Your Way, has just launched, and the goal is to make $3K with it by December 31st. Ongoing!
Not too bad! I am very happy with the online income and thinking about investing the proceeds, but don’t know where yet.
See you in two months!
How is 2013 treating you?
This post was featured on the Carnival for Young Adults, thank you!