Since starting this blog I have publicly declared my goals. I see it as a way to keep myself accountable. Making it public provides me with just the right amount of pressure to act on my goals and make it happen.
Last year wasn’t as bad in terms of achieving goals.
I have winning from important categories such as ending in Php 250,000 net worth once again, tithing and investing my money.
Breakthroughs happened in terms of career with my new role in the company. I also got invited to companies as resource speaker, something I remember praying for years back.
Although the plan of moving out this 2020 seems impossible right now to get happen. But, nothing is impossible with God, right? I am hoping I can save and make more money this year so I can be closer to that goal, no matter how long it may take.
Enough with the story and let’s begin talking about goals.
End 2020 with Php 500,000 net worth
I thought ending in the 250,000 mark was a long shot last year. It turned out it was only me who was stopping myself from reaching that goal.
Even without movement from my salary and being missing-in-action mostly on the blog, I was able to save and invest Php 100,000 letting me end real close to the target net worth last year. And so for this year I am making an ambitious goal to end my 2020 at Php 500,000.
This is challenging but what an exciting target to reach.
Save Php 60,000 Emergency Fund
This is my third year trying to save up for an actual emergency fund. I know I’ve blogged about the importance of this a couple times here on the blog. However, I started investing my money early and I do have good benefits from the company so I became hard headed in this area.
Same as last year, how I will achieve this goal is by doing the following consistently!!!
- Save 10% of whatever money I get every single pay day.
- Save all cash benefits. This includes the holiday pay, allowances and not to mention bonuses.
- Put here whatever extra cash I save or make.
I mentioned during my 2019 year end review that my brother plans to repay me in February. Should that happen, I decided to allocate the money to my emergency fund right away. This may speed up achieving the goal in the first half of 2020.
As soon as I hit the Php 60,000 emergency fund, I can move the money dedicated to emergency fund (bullet points above) to my investments instead. More investment, more money working for me! Yay! I’m putting a big priority mode for this goal. That’s for sure.
Max-out Php 48,000 invested in Funds
Currently,my investing strategy are as follows:
- I transfer 5% of my salary to FAMI-SALEF, an equity mutual fund.
- I transfer another 5% of my salary to FAMI-CF, an index fund.
- I transfer another 10% of my salary to my stock market account as additional buying power. My current broker is FMSBC. I did a step-by-step tutorial on how I opened an account with First Metro Sec in this post.
I plan to maintain this for 2020 which will cost me at total of Php 48,000 invested in funds.
Do Spavings and record it
I don’t know if I’ve explained spavings in the blog before, but I will surely create a separate post for this soon.
To put briefly, spavings is combination of “spending + saving”. It is a financial term I learned first from Budgets Are Sexy. Sometimes we get unexpected discounts or savings from our purchases. With spavings, you are required to save the amount you saved instead of putting it back to spend mode. As of this writing I have yet to encounter spavings in my finances.
I haven’t made that much purchases anyway. I think this is a fun saving challenge for 2020.
Do the 1% Money Saving Challenge
I’ve blogged about the 1% Money Saving Challenge before and will try to complete this year. I am looking forward to another vacation on my birthday so I’m hoping this could be the very fund for it.
Save Commute Fees (sidecar)
In 2017, I successfully eliminated one expense from my commute. I found out a new way to go home from work which allows me to save Php 9 on jeepney ride.
Not only that, my new found ride is point-to-point so it decreases my chance of having impulse dining out instead of having dinner at home. I am so amazed by how it dramatically changed my day to day expenses.
And this 2020, I decided to give up sidecar (or pedicab) on my commute. One ride costs Php 8 and I do it twice, going to work and going home. I am saving Php 80 every work week which accounts to Php 320 savings in a month.
Get a promotion
As I mentioned in the beginning, I received the biggest breakthrough in my career. I am now working as a Digital Marketer.
This means I handle all social media channels creating content, strategy and other campaigns that will generate followers and leads to our Sales Team.
It was the job of my dreams. And indeed made my 2019 the best year ever!
The fact that I really liked my job helped me in doing a number of excellent campaigns last year. And so my prayer is to get a promotion. Promotions happen every January and July. Of course, I can only be promoted once, although there are cases of employees who got promoted twice in a year.
This can be a very difficult goal since I don’t have control when it comes to approval but I know how much I’ve worked last year so I am hoping those will be considered. In case the promotion happens, whether it be January or July (or both?? Haha), I plan to save and invest the unexpected additional money.
Read 20 books
Last year, I made a goal of reading 30 books. Sadly, the goal didn’t flourish. I was only able to read 13 books. But I know myself better when it comes to reading. If only I just let go of my so called laziness I’m sure I can reach my goal. But just in case life happens, I decided to decrease my target reads for 2020. I put 20 books as a goal which means finishing at least two (2) books a month.
You can follow me on my Goodreads account to see my progress for the 2020 Reading Challenge.
Blog and Business Goals
Launch SavingsPinay Podcast
I’ve always been eager to start my own podcast. I, myself, am a big podcast listener so I always have this vision of having my own show in the future too. I’ve already made some scripts for this one but I still have to find time and record it.
I don’t want to reveal too much detail about the podcast project but I’m really hoping it will launch by first quarter of 2020. I will have it available on both Spotify and iTunes.
Blog 100 Times
With all the missing-in-actions moments I had last year, I guess it is only fitting that I hustle my way again and focus on creating more content for you.
Last year, I only blogged 31 posts which was the lowest since the blog started. I know there’s still plenty I can cover when it comes to personal finance. I just have to put time and effort in content creation.
I will try to keep on posting with the same schedule of Tuesdays and Thursdays. With Saturdays reserved for announcements, collaborations or paid press releases.
52 YouTube Videos
I’ve always wanted to do YouTube especially for a personal finance niche since it’s not as saturated the others.
Just like the podcast and releasing content, the only hindrance for me to achieve this goal is I, myself. If I’m really serious, in making growth in passion projects and the platform that God blessed me with, I need to keep my focus intact on the goal.
$400 Google Adsense Payment
Last year, I made over $300+ on Google Adsense. This 2020, I am levelling up my target income to $400.
My other blog www.izzaglinofull.com is getting better in terms of income. There was even a month when it surpassed the earnings of SavingsPinay.ph. I am very happy with this progress.
This 2020, I am hoping to end the year with $400 earned through Google Adsense.
I have to add hike as a fun goal same as last year. I really enjoy hiking and I’m thankful I was able to do it at Mt. Gola and Mt. Talamitam in 2019.
For 2020, I plan to do it every quarter. I hope there will be friends who will invite me. Haha.
Final Notes from SavingsPinay
That’s it for my 2020 goals. If you like to follow me on a personal basis, please do so on Instagram, @savingspinay.ph.
Excited to share my monthly updates and net worth updates with you moving forward. Thank you for reading.
What are your goals for 2020?
Izza of SavingsPinay helps Filipinos bridge the financial literacy gap one content at a time by providing insights and tips on budgeting, saving, investing, side hustle and growing your net worth. Aside from this blog she also writes at www.izzaglinofull.com, a beauty and lifestyle blog for frugal Pinays and manages, www.izzagevents.com, a wedding and event business since 2011. For inquiries, topic suggestions or future collaborations email her at firstname.lastname@example.org