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, May-June here.
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 8.9%.
A little behind, although it is still a strong 5 figures jump and I expect most of the growth to come on the last part 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 $23,950. 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 in November.
Other financial goals
Sell plots on the 90 acres land to get back the purchase price. We are not comfortable taking money while we are still waiting for the plot deeds to come out of the registry, a couple of month ago we were not very optimistic but now it looks like it would be by the end of the year. We had an offer to buy the whole land which we rejected. ONGOING
5 25 50 times more blog income than 2012. That goal was revised on May 1st. I am now at 41.88 times. ON TARGET
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 and I am going AGAIN for two months!
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 am writing this from Paris! The US trip will have to wait 🙂
Make $3K on Make Money Your Way
My new website, Make Money Your Way, has launched on July 1st, and the goal is to make $3K with it by December 31st. PageRank update, where are you?? Total so far: $0. Maybe a few cents with Adsense but I don’t know how much came from each site. Ongoing!
Live off online income
My minimum goal to cover Guatemalan expenses was $1,000, my comfortable goal was $2,000, my stretch goal $5,000.
I made $4,000 in July and about $2,500 in August. Out of those $6,500 I have spent $3,500, donated $650 and have $2,350 left. As I’ll be traveling around Europe in September and October and paying for BF’s expenses too (he paid for last year’s trip around Europe), I think I need around $8,400, meaning $7,000 of online income (as 10% gets donated) over the next couple of months. I don’t know how much time I’ll be able to put into the blog during that time but with the help of my lovely VA I hope to keep on top of things.
Donate 10% of online income to charity
At the moment I have $650 to donate and the school year ends in November so all that money will go towards scholarships for the new year, I have already gone to the school to let the students and teachers know that the best two will have a full ride next year. If there is some money left I’ll help other students buy school supplies and uniforms for the new year.
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!