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 there July – August 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 15.8%. Looks like it is a FAIL for this year. However, I also omitted the value of my three websites. Meaning the cash I just paid to buy my last website is gone from my NW, and I believe all three have an intrinsic value since they are generating $3,000+ a month.
Following a house’s 1% rule, my sites would be worth $300,000 🙂 The online world does not work that way unfortunately, but even at 12 months of income my sites would be worth around $30,000. My motorcycle and car are also excluded. So we are close to $100K not updated which would have made it a bit less of a fail.
I expected most of the growth to come on the second half of the year via selling some plots on my 90 acres land, but things took more time than expected.
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 , $7,700 on a 0% CC in June, wiped a $3,000 card balance at 0% in December, and kept paying the usual $750 in capital each month, for a total of $29,200, that is a PASS.
Other financial goals
Sell plots on the 90 acres land to get back the purchase price. We just got all the permits and deeds for our plots, so we can now start selling, but have not closed sales so far, the permits were stuck gathering dust on Guatemalan bureaucrats’ desks for longer than expected. That is a FAIL.
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.
50 times more blog income than 2012. That goal was revised on March 1st and May 1st from 5 and 25 times. I reached that goal around October, am around 60 times now.
The blog income in 2012 was only for Q4. Things have really picked up since February and Make Money Your Way has helped too.
Take a trip back to Europe: Went to France for four weeks in May. PASS
Take a trip to the US: We went back to France, Spain, Portugal and Morocco with the motorcycle for a couple of months in October instead. And are going to Miami for a couple of weeks in February 2014. PASS
New goal: Make $3K on Make Money Your Way
My new website, Make Money Your Way, has launched in July, and the goal is to make $3K with it by December 31st. So far, I have made over $2,500! Hoping for one last push in December to reach the goal.
Not too bad! I am very happy with the online income and have invested part of the proceeds to buy my Super Secret Website, which is already generating an income in return.
How has 2013 treated you?