Getting started

I often think I am running in circles. That I don't actually accomplish anything. I don't think this is true. I just don't track my progress or take the time to really acknowledge the things I have done. I am too busy focusing on all the things I didn't do. There is a lot of negative feelings in my head and I need to change the language of my thoughts. I also need to track what I do get done and be proud of that. I have a lot of goals for 2011. Let me start with my financial ones.

First I need to recognize that I have not made a long term financial plan because I am unsure of my future. But I need to do something. I can change these goals if and when my life changes. In the meantime, not having a plan is a huge mistake. Last week I  made a list of personal financial blogs that I want to read regularly. The list is long, but I figure as time passes I will choose the ones that I like and commit to those. I wasted way too much time and energy reading gossip blogs in 2010 and all it did was make me feel crummy.

Increase income by $10,000

• In my field and where I work this is only possible if I get a promotion - Or if they reevaluate my job at a higher level.
• Apply on at least 3 jobs outside of my company this year with a higher salary. After 8 years in the same company - I am a little scared of starting somewhere new. But it may be the best option for me.
• Take a photography class and possibly try to make a side income with this skill
• Network, network, network.

Increase net worth

• Reinvest RRSPs in higher risk portfolio
• Take better care of my assets (car, clothes) Repair VS buying new stuff.
• Attend 2 financial workshops\seminars this year
• Promptly do budget at end of each month to make sure I maximising on my savings
• Max out my RRSP and TFSA this year (by March 1st, 2011) (about $9000)
• Invest\Save an additional 3000$

Long term goals
Car fund = 20,000 (by Oct, 1 2014) currently at $3,950 (save 80$ a week to reach this goal)
Vacation = $3,000 (by Jan 1, 2012) currently at $500
Emergency Fund = 20,000 currently $0
Down payment for a condo = 80,000  - currently 40,000
TFSA - 15,000 = currently at 10,000

Spend 1 hour a week reading about investing and learning something new.
Look for cheaper insurance quotes to save money
Only replace stuff if it breaks (try to fix it first)
Don't spend money on other people out of guilt.Be generous in other creative ways. Be generous to yourself as well.

Re-evaluate goals of life changes. Not an example of failure but adaptation!

This week:
Make appointment with financial advisor
Update accounts and pay bills for December
Look for better insurance quotes.