Saturday, December 31, 2011

Self analysis 2011

In January I posted my financial goals for 2011. It was a fairly simple list with only 3 goals. It is time to review my financial goals for the year and see how I did:

  • Goal 1: "I earn $60,000 per year by December 2011." I now have a yearly income of about $70,000, so I definitely reached this goal.
  • Goal 2: "I save 40 percent of my net income in 2011". I actually saved 75 percent of my net income in 2011. I did this by keeping the expenses at a minimum and continuing my "student lifestyle" after I started working full time in August.
  • Goal 3: "I have a positive net worth by December 2011". I reached a positive net worth in August 2011, 4 months before the deadline. I then made a new goal to reach $15,000 before the end of 2011, which I also accomplished.

Conclusion:
I accomplished all 3 goals. To be honest I made goals that had a high probability of success. I will post my financial goals for 2012 right after New Year's Eve. They will probably be a little more aggressive than this year's goals.

Saturday, December 17, 2011

December 2011: $17,721 (+$4,688)

Bank accounts$18,107
Mutual funds$46,723
Pension savings$3,747
Student loan$–50,856
Net worth$17,721
Burn rate1,44 years

The last net worth update this year. I have increased my net worth with more than $26,000 in the calendar year 2011I will write a separate post later about how it went with my financial goals for 2011. I will also post my financial goals for 2012 just after New Year's Eve.