Friday, 25 January 2013

Finance and Life: Goals for 2013

Well, it's taken me a while, but I've made up my mind on what I want to achieve in 2013.

I don't believe in New Year's Resolutions - why resolve to change, when you can just do it instead? However, I do love the idea of using the new year as an excuse to take stock of where I'm at and announce what I'm going to do with the next twelve months.

I'm terribly proud every time I manage to keep a plant alive long enough to produce flowers - this Portulaca on my balcony is a rare success.
Save at least 45% of my income
This is an increase from 35% last year and as such, I guess it's a bit of a stretch goal. How will I achieve it? By scheduling the transfer to my savings account and not touching the money! Seriously though, I'm in a good situation with a reasonable income, no 'bad debt' and no medical or personal issues - so why shouldn't I be able to save money like a champ? This will require me to stretch my frugal muscles (eeeeww) so expect to see a few posts on frugality soon.

Pay off my HECS-HELP debt
That's the student loan the government provides if you can't pay for uni up front. It's not bad debt (the repayments are based on income and instead of a 'real' interest rate the debt is only indexed by inflation), but I still want to be rid of it. Psychologically it will be nice to have paid my degree off, and it will improve my cashflow as the repayments will no longer be deducted from my paycheck.

Complete my Graduate Diploma
This will be the fourth consecutive year that I've chipped away at my post-graduate qualifications while working full time. Enough is enough. I worked part time while studying at undergrad level, now I've been studying part time while working in a professional career - it's time to complete my current study commitment so I can focus on work for a few years before even thinking about any more formal education. I'm enrolled in classes for the first and second trimesters of the school year, so if all goes to plan I'll be graduating in August.

No drinking in 2013
I might elaborate on this later, but I feel like alcohol is doing me harm and no good. I've been toying with the idea of trialling an alcohol-free life for some time, so I decided to align it with the calendar year because, well, I guess just because it's fun to say "no alcohol in 2013" :-)

Cook one new recipe a month
I love my favourite meals so much, sometimes I struggle to find motivation to learn new recipes.

What are your goals for 2013? Do you have any advice on how I can achieve my goals?

1 comment:

  1. that's amazing that you can you save 45% of your income! Eric and I got to 20% for a period of time when we were living in the shack, but it hasn't happened since! We're currently around 10%, and I'm trying to get back to 20% but for some reason, something ALWAYS Happens...ugh!