Over the last couple of years I’ve posted our financial goals on My Own Advisor. Some fellow bloggers have noted this might be a bold move but I don’t consider it too daring. Other bloggers have reported on their goals for certain reasons but here are my reasons for doing so:
- I believe all goals should be clear and transparent,
- I believe all goals should be realistic,
- I believe all goals should be measured, and
- I believe all goals should be documented.
In my day job and industry, if things are not documented they didn’t happen. Making our goals clear, realistic, monitoring them for progress and writing them down should increase our chances of hitting the mark. Except for one objective we nailed all our financial goals last year. Did we get lucky? Maybe but I would like to think we realized our 2014 financial goals because our objective-setting and monitoring processes are working.
So, 2015 will be no exception folks and without further ado here are our 2015 financial goals.
- Maximize our TFSA contributions.
- Increase our mortgage payments by $200 every month.
- Save $5,000 – $7,000 for home improvements.
- Do not incur any new debt.
I did not include our RRSP contributions as a goal since those contributions are already fixed and we have no intention of changing them in 2015.
I’ll update our goals if our plan changes during the year.
Nothing fancy I know but when it comes to saving and investing I don’t think anyone needs to make things more complicated than necessary. As a reader though, you can be the judge.
Got any comments for our saving and investing goals for 2015?
What are your thoughts about us saving AND killing debt at the same time?