2017 Financial Goals Summary
Welcome to 2018 once again…another year of My Own Advisor! Today’s post will look back on 2017 and see how we did on our financial goals now that last year is completely in our rear-view mirror.
These were the financial goals we focused on throughout 2017:
- Do not to incur any new debt.
- Maximize our Tax Free Savings Accounts (TFSAs).
- Make double-up mortgage payments.
- Save $5,000 for a vacation.
- Save $5,000 towards a new car.
- Top up our emergency fund.
Here’s where we ended up:
- Do not to incur any new debt. Goal accomplished for 2017! However, there will be new debt in 2018. Stay tuned for a future post about that given our housing dilemma.
- Maximize our Tax Free Savings Accounts (TFSAs). Goal accomplished! We maxed out our 2017 TFSA contributions in January 2017. You can make a big bet we’ll try and do the same in 2018 – a future post also to come on that.
- Make double-up mortgage payments. Goal was not accomplished although we did go through the first six months of 2017 making double-up mortgage payments.
- Save $5,000 for a vacation. Goal accomplished! Our trip to Portugal occurred in October this year and it was two weeks of international bliss.
- Save $5,000 towards a new car. Goal accomplished! So far, so good with our 2014 Mazda 3 that replaced my old 17-year-old car that is now parts. Poor guy.
- Top up our emergency fund. Goal accomplished! We try and keep our emergency fund at this amount for the “what-ifs” in life.
Overall, a great year really: 5 for 6. A little bit of everything that is important to us financially: saving for our future, killing debt today and having some fun with travel. Will more of the same be in store for 2018? You’ll have to read my 2018 financial goals post coming up soon to find out.
Readers, what financial goals did you set for yourself or with your family in 2017? Did you realize them? Do you have any plans for 2018?