On January 1st, I set a number of financial goals, and will update every couple of months through the year. Here is the second review. You can check the March one here.
The main financial goal was to grow my net worth by 30%. I still haven’t updated any of the $20K we put on house improvements and don’t include buying a car into my net worth, so while it has been a pretty expensive first quarter, my net worth is still up by 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 totaling $12,500. I have over $10K on a 0% credit card ending in June, and the money is already on my account, bringing interest in the meanwhile. I thought about doing some creative investing but that means risky and I don’t want to start paying 20+% interest or look for a 0% deal again.
Other financial goals
Sell plots on the 90 acres land to get back the purchase price. We have not been able to sell plots because we are still waiting for the property deeds from the council. This one big plot has been divided into 250+ and our buyers are just waiting for that paperwork to come through before they buy, or else they would have no guarantee. I think we’ll have to wait for a couple more month. 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 times more blog income than 2012. That goal was revised in March. Here is the accumulated total.
January 1.11 times
February 6.06 times
March 12.15 times
April (written on 23rd) 16.80 times.
I am doubling that goal once more, and reaching for 50 times more! Remembering that the blog income in 2012 was only for Q4. Things have really picked up since February and 50 times is going to be a stretch although it looks possible.
Take a trip back to Europe: Bonjour from France! I’m there as you read this, and will stay for four weeks. PASS
Take a trip to the US: Ongoing goal, since we bought a car, I had to use the money. Not that I budget much, but there was no time at the moment, maybe around September.
Conclusion
Not too bad! I am very happy with the online income and thinking about investing the proceeds in something fun. More details on that once I’ve made a decision!
I want to set more goals since most are reached but don’t have an idea just yet, the land development is taking most of my time. See you in two months!
Looks like you’re making pretty good progress on your goals. Good luck with next quarter!
thank you!
I’d say you already have some really “fun” investments, at least compared to most people! Great job on reaching your goals. I need to look at some of the goals I set for 2013 and see where I’m at. I know I set a few stretch goals so hopefully I can reach them.
I have a few fun ones indeed, and since the online income is fun money, it deserves a fun investment 🙂
You’re making great progress. Good luck with the 50x more blog income! You can do it!!!
yeaaaaaaaaaaah!
I’m not anywhere near 50x more blog income than last year, but I have already beat last year’s… and my lifetime total by a good margin. Of course, my lifetime total before last year started was only about $50, so adding it in doesn’t change much!
lol about $50, but re last year, that is awesome! same as when you start your net worth close to $0 it is easy to multiply it by an insane number.
You’re doing great with blog income! 🙂
Wow, Pauline, you’re doing great!!! For us, as usual, we’re plugging away at getting rid of the debt, and it’s getting better every month. 🙂
happy to hear that Laurie!
Looks like things are headed in the right direction! Keep it up!
thank you Brian!
I can’t wait to hear what you use your extra blog income to invest in! Knowing you, it will be something real fun and unique! 🙂
still a work in progress but I hope so!
Great work on the blog income. January started out great for me. February was super slow, then March and April were pretty good also. Considering I made almost nothing last year, it’s been a big jump and nice bonus. I still haven’t decided what to do with the money yet. However I did have a long conversation with a patient yesterday who raises cattle, and I could get a good breeding pair for $1500. I just have no where to put them and don’t know how to take care of them, but your investment has certainly got me thinking.
I don’t know much about breeding but I would say the bull is not a necessary purchase. A cow can only have a calf every 18 months so for 18 months you are feeding an adult bull that is barely putting on weight, better have some insemination instead. Or get a bull and 8 or 10 cows, which won’t help with your space problem..
Looks like you’re doing great Pauline! I can’t wait to see what fun & interesting investment you come up with as I think you’ve got some pretty unique ones as it is. 🙂
thank John, I have a few ideas but don’t want to talk until it is done 🙂
Nice work on the goals Pauline. 2013 has been looking pretty good for me so far, but I have long way to go. My biggest goal is to save money for a down payment, but I am not sure if I am going to hit this.
Excellent progress Pauline. You must be very pleased. Have a good time in France too – it must be nice to be ‘home’ for a bit!
Wow! Sweet job on the blog income goal. You’ve got to be fired up by all the great things happening in your life right now.
Yes, that is pretty exciting! It is hard to unplug and enjoy the holidays though, always something going on..
30% net worth increase? Good for you, that’s an ambitious target!
Glad to hear that your goals are coming along nicely though.
haha that is VERY ambitious but if you set small goals you don’t go anywhere!
Financial updates are my favourite posts. I take inspiration from what others are accomplishing.
I have no blogging income goals as I have only been doing it for a few months and I have no idea how one gets an ad on their blog. I need to work on building my reader base. There is no way this is a hobby it is a part-time job for me.
it is a time suck indeed. People will start contacting you to put ads on your blog, it took about 3 months for me, and 6 months to really take off.
Thanks for the update, Pauline. Looks like you are doing great! Have fun in France!
Congrats on your goals! Your online income is inspiring
Thank you Blair! Yes, I have been really happy with it so far, I had no idea it would take off like that.
I love all the different investments you have. It looks like they’re all doing pretty well too! The increase in blog income is really impressive, great job!
thank you, I am pretty happy about the online income, no idea if that will last though..
Great job with your financial goals. I wish you luck with them and your property. Have fun in Europe, I cannot wait to read about the adventures you experienced.
thank you Justin!
It makes me very happy to see you reach these financial goals, Pauline. You are working very hard on something totally worthwhile and making excellent progress. How many of us can say that?
I hope more and more each day. With time you only gain momentum and get better at it, one just needs to start!
Sounds like everything is falling into place for you. Have fun on your holidays and eat lots of cheese!!! Cheers mate
thank you!
Great job against your goals, Pauline! It’s exciting to see how much your blog has really taken off! That has to feel great. I am certainly intrigued to see how you plan to invest that extra money as you always find such creative ways to do so.
thank you Shannon, it has been a fun ride so far, hope it keeps going!
I’m so impressed with you. You have so many different income streams and interests – definitely fun to read about!