EMERGENCY FUNDS (priority goals)
I have set these four particular emergency funds this year. After experiencing the tough times this year I think emergency should always be on top of our financial goals. I think its important to set as many emergency funds as possible - medical emergency fund should be separated from personal emergency fund as well as our buffer fund and other savings fund according to its purpose. 1. Personal Emergency Fund - target is to have atleast 20k before 2016 ends - DONE.
2. Family Emergency Fund - another 30k before the year ends - reach 20k only.
3. Health Emergency Fund - reach another 20k before 2016 ends - DONE
4. Renovation Fund - used up all my renovation fund last year on our roof.
* Education/Graduation Fund (addtl) - opened 10k for this fund after I received my scholarship - DONE.
* Housing/Investment Fund (addt'l)- new target 100k next year, I've already opened an account for it.
LIFE INSURANCE
My plan to open a whole life insurance in Paramount was put on
hold for a while until I finish paying my Philam life insurance.
5. Finish my Philam Life Insurance - done/completed it last November.
I'll try to open a whole life insurance this January 2017.
MUTUAL FUNDS
My plan to redeem my shares in FAMI & Soldivo Funds did not pursue last year because of the current value we have on the market these past few months. Hopefully it will be up next year. I also stopped making additional investments on my Philequity account because I needed to prioritize my life insurance & emergency funds over my investments.
6. Have a total of 40k in FAMI SALEF - FAIL7. Have a total of 60k in PHILEQUITY. - FAIL
TARGET 300k
This is my last and my most important target goal this year and I hit it. Yes, I completed my target 300k goal even if I fail on my 4 goals listed here. Completing my 200k BPI life insurance has made a large contribution on reaching my 300k target goal this year.8. Target 300k -combined savings & investment updates - achieved!
I was not able to achieve all my financial goals this year but what is important for me is the journey I took in reaching one goal after the other. My mind is still set for One Million. Next year, I'll double my target & I will work hard for it.
How about you?
Have you reached your financial goals this year?
Have a great year ahead!
God bless.
Photo courtesy of :www.clipartkid.com
Congrats on the 300k! Hindi yan basta basta, 300k pa din yan! I failed on some parts of my financial goals this year and because we are also welcoming a new family member so medyo magagamit ang mga savings. But the good thing is continue pa din ang UITF and VUL from Sunlife, para sa kin achievement pa din na nababayaran ko pa din sya kahit papano. Hopefully, this year sana makatapos na ko kahit emergency fund and another mutual fund! So I am excited to face 2017 na! :)
ReplyDeleteThanks Sis, I am excited with the coming of the new member of your family. Good thing tuloy tuloy ung UITF at mutual fund mo, malaking bagay yan pag natapos mo yan. I'm hopeful that we'll all be able to achieve all our goals. Happy New Year Sis!!! Excited na rin ako sa 2017 kahit malabo estado ko sa pinansyal ngayon.
DeleteWow! Congratulations! You achieved so much this year! To be honest, nakalimutan ko na ang most of my financial goals for this year, because I was so busy and stressed with med school. The only achievement I have siguro is finally starting with my emergency fund. So far, I have PHP2,250 na which is so super small, pero at least nasimulan ko na mag-ipon for emergencies. I spent most of my money on stress-eating and on retail therapy. My goodness. Pahiram po ng motivation and self-control mo para naman meron akong maachieve next year. T.T
ReplyDeleteThanks sis, almost half lang ang na-achieve ko sa financial goals ko. Na-stress din ako sa practice teaching ko kaya yung ibang emergency funds ko naka time deposit ng 3 months para di ko magalaw kaya pilit ko lang pinagkakasya ang allowance ko sa work. Dinadaan ko na lang sa window shopping ang stress ko minsan, yun kasi hilig ko e kaso napapasubo pa rin sa credit cards. Happy New Year!!!
DeleteCongrats Miss Grace! Saludo ako sa yo. You are an inspiration. :)
ReplyDeleteThanks sis, mas saludo ako sa yo dahil mas marami achievement mo. Ako kasi, unti unti lang ang importante may progress. Thanks for dropping by sis. Happy New Year & God Bless!
DeleteHappy new year, Grace!
ReplyDeleteHindi man na-achieve lahat ng goals mo, commendable pa rin na marami ka na-achieve ! We have this year again to continue working on our goals. I am always amazed every time you post a financial update. Nakaka-inspire kasi. :)
Happy New Year din Sis! Thanks for the support sis. Yes, we have another year to begin our journey and I'm always excited to to start again. God Bless.
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