Category Archives: Goal

Goals for 2017

Goals 2017First post of this new year so happy New Year everybody. To start the New Year, it’s time to set some goals that can be measurable and are not out of my hand. Last year, I had some goals that weren’t measurable and some were too big to keep me motivate to reach them.

1. Trip to Disneyworld

We are going to Disneyworld this year. We have budgeted some money for that since last year and we already bought our ticket for the park. We took the 25% rebate for Canadian customer. So now we are looking for flight and a hotel on Disney site. If anybody have any tip on saving on flight, I will take it.

2. Budget all my money

I need to stick budgeting with YNAB. Since I have my kid, I was tracking my expense but not budgeting any of my money I had. Now my budget is up to date, so it will be easier to give a job to my money every week than trying to do it every month with a not up to date budget.

3. Make monthly net worth post

I will start again to update my net worth monthly since it motivating to see it grow by month. I’ve made sporadic post about it last year but 2017 will be different with a monthly post the first day of every month. In that way, I can keep a history from where I started.

4. Write a minimum of one article by month

I will try to write at least a post every month about personal finance or my life in general, so that the blog will have more activity in 2017. To make it happen, I will make time in my schedule to write some articles and I will use the schedule function of WordPress to publish them. In this way, I could write all my post in a month and have my 12 month post scheduled, so I will not have to worry if I can’t write for a month.

5. Buy a 2 in 1 laptop

I am looking to buy a little 2 in 1 laptop like the Asus transformer or HP 2 in 1 at low cost since it will be used for writing post and surf the web when I don’t want to go to my full pc in my office in the basement. With a baby of 13 months, it’s easier to get something portable and small to be use when I have couples minutes.

6. Saving 5% of my paycheck

I am looking to start again saving for investment so this goal it’s a small percentage but it possible to make it happen every paycheck. That’s going to be around 25$ weekly. Once this goal is reach, it will be easier to grow that amount in the future than starting from 0%.

Readers: Have you set your 2017 goal? If yes what are they?

Goal Update April

Hello everyone, this is my goal update of april.

This month is a good month for my goal.  I kept selling stuff on Ebay which gonna cover the inventory fee and all the other are success or on its was.

Goal updates :
  • Goal 1 : Get 2000$ ahead to cover the expense of next month On its way

I am now at around 1000$ to cover next month expense. It’s 700$ morethan the last update,

  • Goal 2 : Add 100$ month in my RSSP On hold

No modification since the last update. This goal will be put on hold for the moment and but this year I need to put some in the RSSP. Instead of adding money to my RSSP, I’ve added some to my TSFA account.

  • Goal 3 : Add 100$ month in my Emergency Funds Success

I’ve added 100$ to my mortgage checking account to have a month worth of payment in it. I’m considering this my emergency funds.

  • Goal 4 : Get a new tablet Failed and cancelled

This goal will not be completed.

  • Goal 5 : Keep this blog updated Success

I posted regularly in April.

  • Goal 6 : Trade cryptocurency. (Bitcoin, Dogecoin, Litecoin …) On it’s way

I’ve traded some cryptocurency.

  • Goal 7: Add or speed 100$ biweekly for the incoming baby.   Cancelled
  • Goal 8 : Make at least one trade in Questrade by trimester – Success

I’ve made a trade in April.

  • Goal 9 : Get a new inventory for the business. Success

I’ve bought for around 350$ of stuff to sell. This should make around 700$.

Goal Update March

Hello everyone, this is my goal update of march.

This month is a good month for my goal.  I’ve only failed to get new inventory for my business since I had other thing to pay before investing more in this.  Also, I kept selling stuff on Ebay which gonna cover the inventory fee.

Goal updates :
  • Goal 1 : Get 2000$ ahead to cover the expense of next month On its way

I am now at around 300$ to cover next month expense. It’s 200$ less than the last update but I had some income trouble at the beginning of the month.

  • Goal 2 : Add 100$ month in my RSSP On hold

No modification since the last update. This goal will be put on hold for the moment and but this year I need to put some in the RSSP. Instead of adding money to my RSSP, I’ve added some to my TSFA account.

  • Goal 3 : Add 100$ month in my Emergency Funds Success

I’ve added 100$ to my mortgage checking account to have a month worth of payment in it. I’m considering this my emergency funds.

  • Goal 4 : Get a new tablet Failed and cancelled

This goal will not be completed.

  • Goal 5 : Keep this blog updated Success

I posted regularly in march

  • Goal 6 : Trade cryptocurency. (Bitcoin, Dogecoin, Litecoin …) On it’s way

I’ve traded some cryptocurency.

  • Goal 7: Add or speed 100$ biweekly for the incoming baby.   Cancelled
  • Goal 8 : Make at least one trade in Questrade by trimester – Success

I’ve made a trade in March

  • Goal 9 : Get a new inventory for the business. – Failed

I’ve not bought anything since I had some income problem at the beginning of the month.

Updates

Hello everyone, Sorry for not updating this blog in the last couple months, but between the job, the new kid, the house, the wife, I missed time to write something.

So this month, I’ve started a business and registered it as a sole proprietor. This is my first registered business. The main goal of the business is to sell electronic parts only. In the next post I’m gonna talk about this business.

On the monetary side, I’ve not invested a lot more in the ETF. I’ve put some money in the business instead of the saving account.

Since the last update, I’ve got a salary drop since I started to pay my insurance at my job.

Goal updates :
  • Goal 1 : Get 2000$ ahead to cover the expense of next month On its way

I am now at around 500$ to cover next month expense. It’s 500$ less than the last update.

  • Goal 2 : Add 100$ month in my RSSP On hold

No modification since the last update. This goal will be put on hold for the moment and but this year I need to put some in the RSSP.

  • Goal 3 : Add 100$ month in my Emergency Funds Failed

I’ve added 20$ in the funds since the last update.

  • Goal 4 : Get a new tablet Failed and cancelled

This goal will not be completed.

  • Goal 5 : Keep this blog updated  Failed

I didn’t had time to update the blog

  • Goal 6 : Trade cryptocurency. (Bitcoin, Dogecoin, Litecoin …)  Failed

I’ve not traded any cryptocurrency.

  • Goal 7: Add or speed 100$ biweekly for the incoming baby.  Success and Cancelled

I’ve put money every two week for the baby that is now born since last month

  • Goal 8 : Make at least one trade in Questrade by trimester – Success

I’ve made a trade in February

New goal :
  • Goal 9 : Get a new inventory for the business.

House

Last month was one of my busier month of my life. We’ve finaly bought a house.

Since we didn’t had the 20% of down payment but only 5%, we had too pay the mortgage insurance from the cmhc. This came with a 9% tax, which the credit union didn’t mention until we received the paper to pay it.

So we have lost most of our 11k of down payment with the insurance fee. A lot of other fee came in like the inspection, the moving, the fee to broke the renting contract.

But in the final we are happy to become owner of our place and that we can go away from these crazy neighbour.

Update on goal

  • Goal 1 : Get 2000$ ahead to cover the expense of next month On its way

I am now at around 1500$ to cover next month expense. It’s 500$ more than the last update.

  • Goal 2 : Add 100$ month in my RSSP On hold

No modification since the last update. This goal will be put on hold for the moment and this money will go towards the goal 7.

  • Goal 3 : Add 100$ month in my Emergency Funds Failed

I’ve added 20$ in the funds.

  • Goal 4 : Get a new tablet Failed and cancelled

This goal will not be completed.

  • Goal 5 : Keep this blog updated  Success

I’ve made some blog post in the last couple weeks.

  • Goal 6 : Trade cryptocurency. (Bitcoin, Dogecoin, Litecoin …)  Failed

I’ve not traded any cryptocurrency.

  • Goal 7: Add or speed 100$ biweekly for the incoming baby.  Success

I’ve put 325$ in the last month for the baby. On this I’ve spend 153$ to buy things we need for him or her.

  • Goal 8 : Make at least one trade in Questrade by trimester – Success

I’ve made a trade in June.

 

This month I’ve choose not to add any new goal.

Update on goals

Almost 6 months since my last post so it’s the time to update the goal I’ve made.

Update on the last goal 

  • Goal 1 : Get 2000$ ahead to cover the expense of next month On its way

I am now at around 1000$ to cover next month expense.

  • Goal 2 : Add 100$ month in my RSSP On hold

I’ve added more than 400$ between December and February. This money will be used for the first buyer home plan. Since I’m looking to use the money in the near future, I’ve choosed to put the money for a house in a TSFA account. This goal will be put on hold for the moment and this money will go towards the goal 7.

  • Goal 3 : Add 100$ month in my Emergency Funds Failed

I’ve not added any money towards this goal since the goal 1 will be a little emergency funds of one month.

  • Goal 4 : Get a new tablet Failed and cancelled

This goal will not be completed.

  • Goal 5 : Keep this blog updated Failed

I’ve failed to update this blog regularly since i’ve had too much stuff moving in my life. So for the next 3 to 6 months I will try to update it regularly.

  • Goal 6 : Trade cryptocurency. (Bitcoin, Dogecoin, Litecoin …) Success

I’ve traded some cryptocurency and almost double the amount I have. I have used the around 1/3 of it to buy GTA V.

 

New goals

Now it’s time to setup some new goals for the next months.

  • Goal 7: Add or speed 100$ biweekly for the incoming baby.

I’ve got some great news last month … I am waiting a baby. So I need to buy a lot of stuff for this baby.

  • Goal 8 : Make at least one trade in Questrade by trimester

This goal is set to avoid the inactivity fee of 25$ when the balance is less than 5000$.

 

I will keep you updated more regularly this time.

Goal

Now for this second post, it’s the time I setup some goal to achieve.

I will set them for the next couple month (3 to 6 month) :

  • Goal 1 : Get 2000$ ahead to cover the expense of next month
  • Goal 2 : Add 100$ month in my RSSP
  • Goal 3 : Add 100$ month in my Emergency Funds
  • Goal 4 : Get a new tablet
  • Goal 5 : Keep this blog updated
  • Goal 6 : Trade cryptocurency. (Bitcoin, Dogecoin, Litecoin …)

I will keep you updated.

Starting this new adventure

Have you ever wish to stop living by paycheck ?

I’ve got this problem too and I want to be able to live and stop worrying about if I have enough money to pay the next bill while waiting on the next paycheck to be in my check account.

So I’ve started to use YNAB to keep a track of every dollar I spend and to live by their 4 rules. This app start to give me an idea of where my money is going.

So I allocate each dollar every month a category to be spend and start to create a buffer to live on the last month paycheck. So by doing that I will stop living paycheck by paycheck. Since this money is budgeted, I will not speed it on for any reason.

Now I also need to start an emergency funds. This emergency funds will be use if we need fast money and we don’t have enough. To start I am aiming of 2 month of money in this funds to be keep at tangerine. So this money is about 4500$. Once my buffer is completed I will get more money in this account to get more than two month of funds.

This is my first post but more will come and i will post regularly my performance toward my goal.