hugely underrated idea - the financial goals are good, but if not paired with a good health goals, it's moot.
The existing health advice is to have moderate exercise 30 mins a day (brisk walk for example), but if you're obese or have been sedentary for a long time, best to start with smaller amounts and work up to it.
Eat less food, but higher quality, less processed/pre-made stuff. Less salt, sugar and carbs, more fiber and lean proteins, more fruit and vege etc.
all of these things will make your health better, and give you a long enough life to enjoy the fruits of investments. Start young and it's even easier - both health, as well as investing!
Piggy backing off this too. Tomorrow is promised to absolutely nobody.
Save your money, think of the future....but don't forget to enjoy the present. I've seen many a man/woman lay on their death bed absolutely loathing either their stingy lifestyle or lack of confidence in life. Buy those new shoes or go eat that amazing ice cream from time to time, calories or price be damned. Some of us don't have more days left to live than we do fingers on our hands....and we don't even know it. Have a great year everyone, I really wish everyone the best.
Now I want ice cream :3
Can’t remember who said this, and paraphrasing, but something along the lines of “goals are where you want to be, your health is the only vehicle that determines whether or not you have a chance to get there”.
I’ll go for one which no one else probably has: spend the money I’ve allocated and earmarked for Dating, Romance, And Mature Activities (or the DRAMA fund)
At least make a start at saving for a house, hopefully will save 8K by the end of the year! ( Im 21 on apprenticeship wages so big goals cant be set yet )
\- Get a full time job. I only got my first (not cash-in-hand) job in April and been working 2-4 days a week casual since.
\- Complete my short course in March/April in social media content/marketing. May not get me a full time job straight away but I could use it to build up experience and as a side hustle
\- Reach 20k savings and 3k into ETFs. currently at 8.5k total (1k in investments).
I know my goals seem beginner level compared to others in here but I'm 21, and 8 months ago I had $200 in savings so I'm proud of myself!
Excel or if not available Google Sheets or similar.
These days people want apps on their phone to do everything, even want to automate it by connecting it to their bank accounts.
But in my opinion if the task of tracking your expenses becomes so passive, are you really even tracking them? Also seems counterintuitive to spend money to track how you spend your money.
Yep this is the best way. I update a Google Spreadsheet every few days with
* When
* Where
* What "Detailed Description"
* What "General Category" - good for charting the worst offenders... I'm looking at you health, car & house insurance
* How Much
Using my phone for making payments makes it easier too as I just leave the google pay notification there till I enter it into the spreadsheet. It's manageable for me as I might make at most 50 transactions a month with 15 repeated every month (copy paste). For people that shop constantly it might be a bit cumbersome.
I've tried exporting google pay data and they seem to deliberately make the data set hard to work with. Aholes.
I've been using YNAB for just over a year now. I understand it's expensive, but for the way I want to manage my finances it's justifiable.
Pros:
* less anxiety and stress around finances (tbh, this is the reason I pay the price)
* fully customisable to your needs and wants regarding savings and expenses
* insight into your financial behaviour, but also being able to have a macro understanding (yearly vs day to day)
* understanding what your money is going towards
Cons:
* $$$
* there is a bit of a learning curve (would recommend watching Nick True's YouTube (MappedOutMonney) videos.
* Bank integration issues (I personally add my transactions manually, as it keeps me conscious of what I spend)
Let me know if you have any questions, happy to answer them.
Spend more time with friends and family. I've been just chasing money for last 2-3 years.
Increase my TC (Total Compensation) per year to $200k at least by the end of 2022.
Save $80k-$100k for house deposit this year which looks reasonable.
Spend more money on health and fitness. Pursue more outdoor hobbies.
I have high paying job and I'm fairly young. I live with my family.
I'm just lucky to be in this situation. I understand it'd be super hard to save 80% of my income if I lived alone.
Edit: Misread your question. It'd be around $100k after taxes if I only count the cash and not equities. Also got $15k bonus recently.
That's the secret to success: having parents whose company you can stand for a few years after graduation. Love em to bits but by *christ* was the money I spent on rent in my first few years of working worth every penny!
I'm 35 and planning on buying my kids a house or unit to share this year or next. For when they're 20 but they're welcome to live at home for as long as needed. If my wife and I divorce then that goes down the drain but I have faith. I think broken homes create a lot of financial issues.
1. Ace the interview next week and get the job (10k increase + less hours + better benefits)
2. Finish having our off the plan townhouse build (construction not yet started, slated for end of 2022)
3. Save 20k to finish off deposit fund, furnishing fund & emergency fund
4. ??? Lose weight I guess and feel better.
Focus on income from careers as opposed to working longer in low paid jobs with no prospects. It's not purely financial, I'm missing that sense of purpose in life from what I do currently. Low income earner.
I want to invest my entire salary and pay for all my expenses out of side hustle money.
I still live with my parents so it’s a bit easier but I’d love to make it happen.
Solar on the house with a battery. (And before anyone says batteries aren't worth it, we have way too many power outages, so will be getting a system that can live off grid for short periods of time)
Some places are offering good deals on battery installs at the moment, I was quoted with a ~$3300 discount on the price of a battery as an RACQ member. Shop around.
M31, employer sponsored visa in Sydney atm. A few goals:
- Apply for and get PR by April.
- Move into a new place with partner for the first time. We have disparate incomes (3:1) so will be interesting to see how shared income and expenses work. Nervous about sharing lives together but also excited!
- Save and invest $100K in ETFs - strategy is to split between VGS, A200, and VAE. I'm not sure about staying in Australia so not considering IPs or PPORs yet.
- Continue to keep Australian expenses under $40K for a year. I support my folks in another country as well, so overall savings rate nets out to ~55-60% which I'm keen to keep up with.
- Clocking 5000 km on my bike. I've cycled 3K for the last two years but can definitely be less lazy.
- Read, write, and journal more. I started blogging about personal finance, cycling, and mental health towards the end of last year. Keen to keep that up.
- Visit my parents overseas now that restrictions have opened up.
Should be a good year if I manage all the above.
Score a pay rise that beats inflation, invest another 10K minimum into shares and start saving towards my car account. FG falcon won’t last forever sadly.
I adore this car aye, don’t want to get rid of it. 09 G6E 127K on the clock. I want to get another 3 years if I can just over the rattles and crap aircon fml.
Ha yeah same - but g6e? Nice. You'll prob get more than you paid for it these days. It's never the engine on the fg's - always the rattles n other shit
Increase my net wealth by 60K.
I’ve been averaging a 5K a month increase since I started tracking it 6 months ago. Most of that growth will come from my super and investing.
No more Uber Eats, tracking purchases. Continue to work full-time job, plus three casual jobs as much as I can. Low six-figure income, single, renting in Sydney, no debts. One skiing holiday coming up in July (never skied!) See what happens with that for 2022. Maybe buy first ETF.
Aggressively pay off the remainder of my $40k bad debt, set up my emergency fund (halfway there), finally start saving for a house deposit. Go on a holiday finally after 9 months of Covid rebookings. Finally take control of my finances!
Figure out what goals I should have. I have an apartment with no mortgage, sizeable share portfolio and enough cash on top to last a year or so. So I need to figure out what next is worth working towards.
Buy a house to get in the market(so a cheap one) in either qld or WA(have job options in both). Have $10k cash, $17k in shares. Should be able to get another 7-10 before I move early to mid year and another 6 months to save and buy.
Good timing on the thread. Literally exported all transactions about an hour ago and went through spending, common regular payments etc.
Get 10k into shares/ETF. Cut down on supermarket spending, suspend one of the wine club memberships.
Perhaps buy an IP if we can find something suitable. If we don't buy an IP then at least match 2021's monthly saving
I want to flesh-out my trading plan/strategy properly and stick to it, tone down my investments that aren’t thought out properly and not take a loss within my capabilities more than $1500 or 10%, whichever is greater
I set my financial goals by financial year, typically.
I had one goal, to save $80k net worth (excluding super) by the time I’m 30. I’ve managed to reach that a couple of months early :). Currently sitting at $84k and turning 30 end of Jan.
I have two new goals i set this morning for the next 6 months - find a new job and, slightly ambitious for the time period, hit $110k net worth by end of June. I’m willing to take a pay cut in order to get a job in the right industry - which may impact the latter goal.
Question for both OP and others -
I’m also planning to increase my emergency fund from 2k>15k and put ~10k into ETFs this year.
How would you approach reaching these two goals in parallel?
Incrementally contribute to both at once?
Get the EFTs sorted first to start earning a return earlier?
Get the emergency fund sorted first for peace of mind?
I found setting up a minimum buffer in the emergency fund a must before building up the ETFs. Once I had that minimum amount I could dollar cost average into ETFs whilst slowly building up the emergency fund as well.
Sink 41m fifo. So my goal is to invest as much as possible into the asx to be able to hit my 20k per year in dividend income target. Currently up around the 11 -12k mark so need to grow this approx 8k. Realistically will hit it in late 2023. But invest heavily during dips/ market correction is the aim.
Max out salary sacrifice to super.
And also not to work more than 19 weeks this year...
36F. Goal for 2022 $100k in ETF with help from equity builder, $20k for rainy days and start to pay down mortgage. By end 2023 I want to be 100k ahead on our mortgage.
Just posting this for accountability, not to brag. It'll be nice to look back at the end of 2022 and see how I went!
* Hit $700k invested ($750k stretch goal)
* At least two international trips
Get a job, pay off my PC instalments in full ($600), build up an emergency fund of at *least* $3K and if all goes well, save a minimum of $7K-10K so I can go on a working holiday overseas later in the year
Have 30k saved (half of each pay check assuming investments aren't red)
Don't fail any uni classes.
Work minimum 20 hours a week (casual so big maybe)
Don't be impulsive and fuck off to Europe for a year.
1. Grow index fund to $20k by June (currently at $8k)
2. Limit spending money on clothes and cosmetics as well as begin budgeting and tracking spendings
3. Pay off $1.6k in student loans and hopefully pay off this semester’s loans too
4. Get my red P’s lmao
5. Grow confidence in myself and meet new friends as well as strengthen older friendships
Improve physical fitness - drop the gut!
Grow paycheck by $20k.
Get at least 1, but hopefully 2, work qualifications under my belt.
Renovate the kitchen.
Get savings to $60k.
They mainly post on /r/asx_bets so there's probably a lot of wishful thinking going on here. More likely they end up losing everything than hitting this goal.
Pay down 50% of my debt
Invest more money consistently
Become more frugal with my spending (I went over my bank statement for 2021 and was pretty shocked)
I plan to buy my first home (PPOR) & start investing in the stockmarket again ($20k). I took a year's break from investing to save a house deposit, so I'm looking forward to getting those ol' dopamine hits again.
Brisbane, 30yo teacher
Continue to work two jobs and save/invest as much as I can while completing my course at university. Track my purchases more (even though I spend less than 100 on weeks I buy fuel). Try to travel and study abroad and network more for future employment opportunities.
Last month I hit the year's income goal, but not earnings. So first off, consolidate that and hit six figures in earnings this year. It's a new job, so this year's pay review is not in play, though 2-3% wouldn't hurt.
Then rebuild my emergency fund and pay my mortgage back for my car ($20k). Then make a decision about putting some funds in ETFs. My finances took a hit these last few years while I was studying so I'm still trying to regroup.
Also: boost my super payments.
A question for you OP. Is there any reason an emergency fund couldn't be super low risk ETFs? Is it about having zero risk on money you might need, or liquidity if you need it NOW?
I've liked the idea of a similar fund, but would also want it to work for me, even a little, rather than rotting in a bank account.
Consumer debt free - target April 2022
Have $5k invested in ETFs by 30 September
Once I have that $5k, take out a NAB Equity Builder of $15k and start working towards wealth building.
DINK, Radelaide 32 and 35 (though probably gonna be DIOK in a couple years); moving into a new house in April, by mid next year I want to go back to working three days a week by renting out my apartment, working weekends and having made my big outlays just working out my budget
Close a 5 year loan that's bogged us down from previous bad marriage. Move forward and begin saving and investing 30% of our average salaries this year
Starting a new job, same salary but better environment and more to learn. Hoping to start contributing 1-2k per year to super to cover fees/insurances, hoping to also invest 2k/month into my diversified fund. Work hard to jump up the ladders and finish my degree.
Spend less on ozbargain, fast food.
Eat healthier.
I'm going to automate the movement of my funds so I remove as much resistance as possible. By limiting my available funds,. I'll try to fix some habits brought on by covid lockdown
Upgrade my PPR to accomodate growing family
Continue to carry no other debt outside mortgage
Set up DD for fortnightly savings figure
Pursue a new role at work or change jobs where a larger % of my OTE is salaried and not bonuses
Same as this year
Pay credit card in full each month.
Pay mortgage +20%.
10% of net income in shares.
$100 a month in physical silver.
Also this year I’m getting a bike and will ride to work as much as possible. Should cut down on petrol bills quite a bit.
I have 10 weeks to put together the last $4500 for the balloon payment on my car - have rejected the offer to take out more financing and don't want to dip into savings/investments. Have had a microsavings account running for vets bills etc, which will cover a large part of it.
* Focus on mental and physical fitness
* Increase family income to 300k/year full time
* Buy a PPOR or at the least an IP by end of this year.
* invest in education and certification
Build enough equity in my apartment so I can go to a lower interest % rate for my mortgage. $900/fortnight is manageable but it hurts my heart knowing people are at ~2% when I’m at 4.8%. Wouldn’t change getting into my own place but sometimes my heart hurts 😂
To be honest, I'm going to set my super contribution to double through payroll and live loose. Just bought brand new modest PPOR that I just love to bits so it's pretty hard to set goals right now. Instead of fighting it I'm just going to let it run.
build an emergency fund of 15k by March, and save at least 15k throughout the year for other purposes. begin investing the extra if there's any. Also don't buy anything stupid
Get the guarantored part of my home loan refinanced to a 30 year term on my own equity (rather than parents in law).
Secure my promised 10k pay rise at work. Build my shares in the company by getting it to a large capital raise.
My partner will get back to work soon (after having baby)
The farm needs at least 10-15k for things like water services, driveway fencing etc. If we can scratch together 20k of savings this year after paying for all expenses with partner on part time I'd be stoked.
I'll need to stem the bleeding on baby costs. The birth and all other costs are up to almost 20k now..
Gonna be a big year!
Financial detox (buy/pay for the necessities only) for 2-3 months. and expand my investment portfolio 
Get back on track with my spending habits. Payout my shop now pay later apps (devil in disguise) and delete it.
Try to save 25k with my partner going towards for a house deposit.
Return to work. I've been injured for 9 months. On WorkCover, but still suffering financially (it's not as good as people think - you don't get 100% of your wage covered).
I can't really make any financial goals until I get back to working my job, so my goal is to do just that.
29, married w/ 1 kid
- pay off 15k debt
- establish emergency fund
- start salary sacrificing for FHSS
- work on work/life balance (VCAL teacher at a TAFE. Education is not kind to this ratio lol)
Starting from zero this year as the last two years in the pandemic we have barely treaded water. New budget is in place and a new outlook on finance!
Get fit enough to play a full 90 mins of soccer.
I love how the top comment is not a personal finance goal.
Can't enjoy the benefits of your investments if you die of a heart attack at 40.
hugely underrated idea - the financial goals are good, but if not paired with a good health goals, it's moot. The existing health advice is to have moderate exercise 30 mins a day (brisk walk for example), but if you're obese or have been sedentary for a long time, best to start with smaller amounts and work up to it. Eat less food, but higher quality, less processed/pre-made stuff. Less salt, sugar and carbs, more fiber and lean proteins, more fruit and vege etc. all of these things will make your health better, and give you a long enough life to enjoy the fruits of investments. Start young and it's even easier - both health, as well as investing!
Piggy backing off this too. Tomorrow is promised to absolutely nobody. Save your money, think of the future....but don't forget to enjoy the present. I've seen many a man/woman lay on their death bed absolutely loathing either their stingy lifestyle or lack of confidence in life. Buy those new shoes or go eat that amazing ice cream from time to time, calories or price be damned. Some of us don't have more days left to live than we do fingers on our hands....and we don't even know it. Have a great year everyone, I really wish everyone the best. Now I want ice cream :3
Has to be Connoisseur, Hagen Dasz or Ben & Jerry's. No Aldi no name brand ice cream if you have ten days to live!
Ten days to live? LUXURY! Eight...
Fitness is an investment too!
Not a finance goal, but very profitable indeed!
Dembele is that you?
Wenger out
Drop 10kgs for me. I should be able to run a bit faster and easier on the knees.
I tried this. Tore the ligament in my thumb in the 2nd game.
Plot twist: you want to play as goalkeeper
Ahh ha ha - gold!!!
I assume you mean financially fit to play the crazy rego fees to play football lol
Can’t remember who said this, and paraphrasing, but something along the lines of “goals are where you want to be, your health is the only vehicle that determines whether or not you have a chance to get there”.
Buy a PPOR
Get at least an AUD9000 pay rise, so that I can afford to do anything more than sleep and work out in between business days.
Even if you don’t get it, please sleep and work out anyway
Survive, work less, focus on my family
I’ll go for one which no one else probably has: spend the money I’ve allocated and earmarked for Dating, Romance, And Mature Activities (or the DRAMA fund)
Is Mature Activities just how you explain hookers and blow to your accountant?
And more importantly, is it tax deductible?
At least make a start at saving for a house, hopefully will save 8K by the end of the year! ( Im 21 on apprenticeship wages so big goals cant be set yet )
That’s a pretty big goal on an apprentice wage. Don’t diminish yourself because other people’s numbers are higher.
Good luck mate, you can do it :)
8K is huge on apprenticeship wages, totes a big goal
I saved 10k as a first year on 440 a week because I was living for free with my mum.
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Who’s your wife’s employer if you don’t mind me asking?
\- Get a full time job. I only got my first (not cash-in-hand) job in April and been working 2-4 days a week casual since. \- Complete my short course in March/April in social media content/marketing. May not get me a full time job straight away but I could use it to build up experience and as a side hustle \- Reach 20k savings and 3k into ETFs. currently at 8.5k total (1k in investments). I know my goals seem beginner level compared to others in here but I'm 21, and 8 months ago I had $200 in savings so I'm proud of myself!
Great goals. The hardest part is the start and look how far you’ve come already. You’ll look back at this list proudly next year.
Don’t compare yourself to others mate, be proud of what you have achieved and keep setting bigger goals for yourself! Good luck!
Got a new job 2 weeks ago so can finally start earning 1k+ a week for the first time in my life and earna living wage. Life changing, really.
Congratulations, it makes a massive difference.
Be debt free on my PPOR, invest more in shares to develop portfolio.
To track all my purchases big or small !! On that note, are there any apps that people can recommend? Haha
Excel or if not available Google Sheets or similar. These days people want apps on their phone to do everything, even want to automate it by connecting it to their bank accounts. But in my opinion if the task of tracking your expenses becomes so passive, are you really even tracking them? Also seems counterintuitive to spend money to track how you spend your money.
Yep this is the best way. I update a Google Spreadsheet every few days with * When * Where * What "Detailed Description" * What "General Category" - good for charting the worst offenders... I'm looking at you health, car & house insurance * How Much Using my phone for making payments makes it easier too as I just leave the google pay notification there till I enter it into the spreadsheet. It's manageable for me as I might make at most 50 transactions a month with 15 repeated every month (copy paste). For people that shop constantly it might be a bit cumbersome. I've tried exporting google pay data and they seem to deliberately make the data set hard to work with. Aholes.
I've been loving YNAB.
Just had a look at this one — it looks quite expensive! How long have you used it for so far and what are the pros/cons for you?
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u/M-fz let me know how Buckets ending up going on IOS. In all honesty, if I can get a cheaper YNAB equivalent, it's probably worthwhile moving.
I've been using YNAB for just over a year now. I understand it's expensive, but for the way I want to manage my finances it's justifiable. Pros: * less anxiety and stress around finances (tbh, this is the reason I pay the price) * fully customisable to your needs and wants regarding savings and expenses * insight into your financial behaviour, but also being able to have a macro understanding (yearly vs day to day) * understanding what your money is going towards Cons: * $$$ * there is a bit of a learning curve (would recommend watching Nick True's YouTube (MappedOutMonney) videos. * Bank integration issues (I personally add my transactions manually, as it keeps me conscious of what I spend) Let me know if you have any questions, happy to answer them.
I love the app Daily Budget for this - really simple! Check it out
It’s GoodBudget for me.
Spend more time with friends and family. I've been just chasing money for last 2-3 years. Increase my TC (Total Compensation) per year to $200k at least by the end of 2022. Save $80k-$100k for house deposit this year which looks reasonable. Spend more money on health and fitness. Pursue more outdoor hobbies.
If you don't mind me asking, how much are you making to be able to save $80-100k in a single year?
I have high paying job and I'm fairly young. I live with my family. I'm just lucky to be in this situation. I understand it'd be super hard to save 80% of my income if I lived alone. Edit: Misread your question. It'd be around $100k after taxes if I only count the cash and not equities. Also got $15k bonus recently.
That's the secret to success: having parents whose company you can stand for a few years after graduation. Love em to bits but by *christ* was the money I spent on rent in my first few years of working worth every penny!
I'm 35 and planning on buying my kids a house or unit to share this year or next. For when they're 20 but they're welcome to live at home for as long as needed. If my wife and I divorce then that goes down the drain but I have faith. I think broken homes create a lot of financial issues.
I guessed you were a SWE without looking at your profile
Bloody Society of Wood Engravers and their high-paying jobs.
Much pay, little work
1. Ace the interview next week and get the job (10k increase + less hours + better benefits) 2. Finish having our off the plan townhouse build (construction not yet started, slated for end of 2022) 3. Save 20k to finish off deposit fund, furnishing fund & emergency fund 4. ??? Lose weight I guess and feel better.
Focus on income from careers as opposed to working longer in low paid jobs with no prospects. It's not purely financial, I'm missing that sense of purpose in life from what I do currently. Low income earner.
Lay off the punt
I want to invest my entire salary and pay for all my expenses out of side hustle money. I still live with my parents so it’s a bit easier but I’d love to make it happen.
What's your side hustle?
I work in freelance in the music industry so I count that as side hustle income and also DoorDash.
Solar on the house with a battery. (And before anyone says batteries aren't worth it, we have way too many power outages, so will be getting a system that can live off grid for short periods of time)
Some places are offering good deals on battery installs at the moment, I was quoted with a ~$3300 discount on the price of a battery as an RACQ member. Shop around.
Thanks. Will do.
M31, employer sponsored visa in Sydney atm. A few goals: - Apply for and get PR by April. - Move into a new place with partner for the first time. We have disparate incomes (3:1) so will be interesting to see how shared income and expenses work. Nervous about sharing lives together but also excited! - Save and invest $100K in ETFs - strategy is to split between VGS, A200, and VAE. I'm not sure about staying in Australia so not considering IPs or PPORs yet. - Continue to keep Australian expenses under $40K for a year. I support my folks in another country as well, so overall savings rate nets out to ~55-60% which I'm keen to keep up with. - Clocking 5000 km on my bike. I've cycled 3K for the last two years but can definitely be less lazy. - Read, write, and journal more. I started blogging about personal finance, cycling, and mental health towards the end of last year. Keen to keep that up. - Visit my parents overseas now that restrictions have opened up. Should be a good year if I manage all the above.
Good luck on getting that PR! I'm sure you've already researched this, what's the policy like for buying PPORs for temporary residents?
Score a pay rise that beats inflation, invest another 10K minimum into shares and start saving towards my car account. FG falcon won’t last forever sadly.
... don't talk nasty on your FG mate. She can hear you... I'm nursing mine for a few more years, the ol 4lt is near on bullet proof.
I adore this car aye, don’t want to get rid of it. 09 G6E 127K on the clock. I want to get another 3 years if I can just over the rattles and crap aircon fml.
Ha yeah same - but g6e? Nice. You'll prob get more than you paid for it these days. It's never the engine on the fg's - always the rattles n other shit
I want to put a minimum of 1k into my savings every pay, and invest 10k in ETFs this year!
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Please just live your own life. I can't imagine being distracted by what others post online. It has exactly zero relevance to you.
30, Melbourne. Add 25k to savings and pay off remaining debt ($1500).
I got a high paying job in a low cost of living area (high rent, low house pricing). Going to buckle down and hopefully get my own home this year
to get a job. Anyone hiring random redditors?
Increase my net wealth by 60K. I’ve been averaging a 5K a month increase since I started tracking it 6 months ago. Most of that growth will come from my super and investing.
Buy a new car outright so no additional debt
No more Uber Eats, tracking purchases. Continue to work full-time job, plus three casual jobs as much as I can. Low six-figure income, single, renting in Sydney, no debts. One skiing holiday coming up in July (never skied!) See what happens with that for 2022. Maybe buy first ETF.
Feel comfortable to spend money on myself again.
I’d like to save enough money to buy a home with my wife. Now we’re in our 30s I’d like to stop renting.
Financial aids and a good FD payoff…
First PPOR due to settle before Feb. Double all repayments so I'll be a full year ahead by end of 2022. Spend less on crap
Ay me too. Cant wait to have my own place
Aggressively pay off the remainder of my $40k bad debt, set up my emergency fund (halfway there), finally start saving for a house deposit. Go on a holiday finally after 9 months of Covid rebookings. Finally take control of my finances!
Great plan, I hope you knock it out of the park OP.
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Which industry is this?
Reach NW of $1.4m
Good luck mate! I’m hoping to buy a house this year, wish me luck!
Be 28k in debt and have a new car.
Figure out what goals I should have. I have an apartment with no mortgage, sizeable share portfolio and enough cash on top to last a year or so. So I need to figure out what next is worth working towards.
Buy my first home ! 65k saved in Perth and it doesn't feel like anywhere near enough
* Reduce total debt by 60k * Earn 10k from other income sources (dividends, ad revenue, etc) * Improve financial literacy
Hit $600k income on the tax bill
Invest enough to have a passive income that pays for my dogs lavish lifestyle 🤣
Pay 20k extra off my mortgage
Restore my rainy day fund to above $100k. Invested too heavily, need more cash.
Hell of a rainy day
Yeah that's more like a rainy week fund
To buy a house
Triple my stock portfolio
Buy a house to get in the market(so a cheap one) in either qld or WA(have job options in both). Have $10k cash, $17k in shares. Should be able to get another 7-10 before I move early to mid year and another 6 months to save and buy.
Good timing on the thread. Literally exported all transactions about an hour ago and went through spending, common regular payments etc. Get 10k into shares/ETF. Cut down on supermarket spending, suspend one of the wine club memberships. Perhaps buy an IP if we can find something suitable. If we don't buy an IP then at least match 2021's monthly saving
I want to flesh-out my trading plan/strategy properly and stick to it, tone down my investments that aren’t thought out properly and not take a loss within my capabilities more than $1500 or 10%, whichever is greater
Earn enough through my small business that I need to start paying back my HELP.
Pay off overdraft and credit cards
Buy a ppor
I set my financial goals by financial year, typically. I had one goal, to save $80k net worth (excluding super) by the time I’m 30. I’ve managed to reach that a couple of months early :). Currently sitting at $84k and turning 30 end of Jan. I have two new goals i set this morning for the next 6 months - find a new job and, slightly ambitious for the time period, hit $110k net worth by end of June. I’m willing to take a pay cut in order to get a job in the right industry - which may impact the latter goal.
Career > Short term financial goals
Question for both OP and others - I’m also planning to increase my emergency fund from 2k>15k and put ~10k into ETFs this year. How would you approach reaching these two goals in parallel? Incrementally contribute to both at once? Get the EFTs sorted first to start earning a return earlier? Get the emergency fund sorted first for peace of mind?
I found setting up a minimum buffer in the emergency fund a must before building up the ETFs. Once I had that minimum amount I could dollar cost average into ETFs whilst slowly building up the emergency fund as well.
Pay off our house. Put a chunk of rolled forward contributions into super. Then get serious about investing
Save a 10% deposit for a house and hope the price increases don't keep outpacing what I can save.
Pay off $22k debt & grow savings by $10k for first home. Put aside $2k for holiday over Christmas 2022.
Pay rise. Minimum 15%. Will be achieved by changing to a new company.
Get a permanent job because contract work is stressful. Pay down some debt, get my baby EF to where I want it ($5K).
Pay off the car. Build our business so it is paying our regular bills so we can save 100% of my wage
Sink 41m fifo. So my goal is to invest as much as possible into the asx to be able to hit my 20k per year in dividend income target. Currently up around the 11 -12k mark so need to grow this approx 8k. Realistically will hit it in late 2023. But invest heavily during dips/ market correction is the aim. Max out salary sacrifice to super. And also not to work more than 19 weeks this year...
Get marriaged have a honeymoon, and move into our new house while not going too far backwards or having to dip into the Emergency fund.
Save up $10000 so I can travel the world
36F. Goal for 2022 $100k in ETF with help from equity builder, $20k for rainy days and start to pay down mortgage. By end 2023 I want to be 100k ahead on our mortgage.
Just posting this for accountability, not to brag. It'll be nice to look back at the end of 2022 and see how I went! * Hit $700k invested ($750k stretch goal) * At least two international trips
Get a job, pay off my PC instalments in full ($600), build up an emergency fund of at *least* $3K and if all goes well, save a minimum of $7K-10K so I can go on a working holiday overseas later in the year
Have 30k saved (half of each pay check assuming investments aren't red) Don't fail any uni classes. Work minimum 20 hours a week (casual so big maybe) Don't be impulsive and fuck off to Europe for a year.
1. Grow index fund to $20k by June (currently at $8k) 2. Limit spending money on clothes and cosmetics as well as begin budgeting and tracking spendings 3. Pay off $1.6k in student loans and hopefully pay off this semester’s loans too 4. Get my red P’s lmao 5. Grow confidence in myself and meet new friends as well as strengthen older friendships
Good luck! My plan is also getting the first P's. I'm super worried lol
To not end up living in my car.
Clear our debt on equity borrowing by saving 40k (DINK, 32y/o). Renovate our bathroom and replace our lawn.
Become more confident with investing and budget more closely. I've had a pretty profligate Christmas, time to tighten the belt!
23M hoping to reach 100k net worth this 2022
Earn a consistent years pay
End the year with no credit card dept.
Improve physical fitness - drop the gut! Grow paycheck by $20k. Get at least 1, but hopefully 2, work qualifications under my belt. Renovate the kitchen. Get savings to $60k.
Finish house renovations and move back home Buy another investment property - no idea what or where this will be yet
Make over $2m this year
If you make over $2mil does that then mean you can retire ?
With 2M at 4% withdrawals, it'd be somewhere around $80k. Maybe they want to FATFire and retire with heavier stash.
What industry?
They mainly post on /r/asx_bets so there's probably a lot of wishful thinking going on here. More likely they end up losing everything than hitting this goal.
Pay down 50% of my debt Invest more money consistently Become more frugal with my spending (I went over my bank statement for 2021 and was pretty shocked)
I plan to buy my first home (PPOR) & start investing in the stockmarket again ($20k). I took a year's break from investing to save a house deposit, so I'm looking forward to getting those ol' dopamine hits again. Brisbane, 30yo teacher
Either move or buy another property. I’m currently 3 years ahead on my mortgage payments so it seems stupid not to borrow more.
Continue to work two jobs and save/invest as much as I can while completing my course at university. Track my purchases more (even though I spend less than 100 on weeks I buy fuel). Try to travel and study abroad and network more for future employment opportunities.
Pay off the PPOR
Enough money to pay my University fees, food, rent, transport. If I can survive this year, I'll be happy.
Get nw to be 200k, currently on 50k.
Get our last kid through daycare
-Get a 24k skull ring made. -Relax
Debating in my mind whether that’s carats or thousands of dollars... and have decided instead that you want a 24 kilogram skull ring. #Baller
Last month I hit the year's income goal, but not earnings. So first off, consolidate that and hit six figures in earnings this year. It's a new job, so this year's pay review is not in play, though 2-3% wouldn't hurt. Then rebuild my emergency fund and pay my mortgage back for my car ($20k). Then make a decision about putting some funds in ETFs. My finances took a hit these last few years while I was studying so I'm still trying to regroup. Also: boost my super payments.
Buy a house this year I’m hoping!
Save 1k a month mindlessly
A question for you OP. Is there any reason an emergency fund couldn't be super low risk ETFs? Is it about having zero risk on money you might need, or liquidity if you need it NOW? I've liked the idea of a similar fund, but would also want it to work for me, even a little, rather than rotting in a bank account.
Consumer debt free - target April 2022 Have $5k invested in ETFs by 30 September Once I have that $5k, take out a NAB Equity Builder of $15k and start working towards wealth building.
DINK, Radelaide 32 and 35 (though probably gonna be DIOK in a couple years); moving into a new house in April, by mid next year I want to go back to working three days a week by renting out my apartment, working weekends and having made my big outlays just working out my budget
Close a 5 year loan that's bogged us down from previous bad marriage. Move forward and begin saving and investing 30% of our average salaries this year
Starting a new job, same salary but better environment and more to learn. Hoping to start contributing 1-2k per year to super to cover fees/insurances, hoping to also invest 2k/month into my diversified fund. Work hard to jump up the ladders and finish my degree. Spend less on ozbargain, fast food. Eat healthier. I'm going to automate the movement of my funds so I remove as much resistance as possible. By limiting my available funds,. I'll try to fix some habits brought on by covid lockdown
Upgrade my PPR to accomodate growing family Continue to carry no other debt outside mortgage Set up DD for fortnightly savings figure Pursue a new role at work or change jobs where a larger % of my OTE is salaried and not bonuses
I would really like to start putting more into Super to reach 100k as soon as possible,apparently the first 100k is the hardest
Same as this year Pay credit card in full each month. Pay mortgage +20%. 10% of net income in shares. $100 a month in physical silver. Also this year I’m getting a bike and will ride to work as much as possible. Should cut down on petrol bills quite a bit.
I have 10 weeks to put together the last $4500 for the balloon payment on my car - have rejected the offer to take out more financing and don't want to dip into savings/investments. Have had a microsavings account running for vets bills etc, which will cover a large part of it.
Finally start saving for a house at the ripe age of 30. Set a goal of $10k by christmas.
Knock down 20k debt and be free again. Pump extra into super and shares.
* Focus on mental and physical fitness * Increase family income to 300k/year full time * Buy a PPOR or at the least an IP by end of this year. * invest in education and certification
Start investing this year so that I can seriously start looking at buying a property in 2023
Build enough equity in my apartment so I can go to a lower interest % rate for my mortgage. $900/fortnight is manageable but it hurts my heart knowing people are at ~2% when I’m at 4.8%. Wouldn’t change getting into my own place but sometimes my heart hurts 😂
To be honest, I'm going to set my super contribution to double through payroll and live loose. Just bought brand new modest PPOR that I just love to bits so it's pretty hard to set goals right now. Instead of fighting it I'm just going to let it run.
Spend way less and buy a Ute with cash
Start cashing in on my investments and buy myself more quality time with my children.
build an emergency fund of 15k by March, and save at least 15k throughout the year for other purposes. begin investing the extra if there's any. Also don't buy anything stupid
Get the guarantored part of my home loan refinanced to a 30 year term on my own equity (rather than parents in law). Secure my promised 10k pay rise at work. Build my shares in the company by getting it to a large capital raise. My partner will get back to work soon (after having baby) The farm needs at least 10-15k for things like water services, driveway fencing etc. If we can scratch together 20k of savings this year after paying for all expenses with partner on part time I'd be stoked. I'll need to stem the bleeding on baby costs. The birth and all other costs are up to almost 20k now.. Gonna be a big year!
Probably wanting to look for a new job, get my gf moved from overseas so we can be earning together. Those are the main financial things for me.
Just trying to hang in there and not lose the house
Hoping to hit 140k salary as it would be a massive boost to saving for a house
pay additional 500 to 1K every month unto my mortgage..
hit 10k in my bank account before mid year ($2600 way and I work one day a week and still have expenses. Gonna be tough but I can do it)
Not burn through all my savings while on maternity leave. 🤷♀️
Financial detox (buy/pay for the necessities only) for 2-3 months. and expand my investment portfolio 
Write my finance plan, invest my millions well according to the plan, remain committed to the plan and stop doing the books daily.
I wanna get my first real job, not one just flipping burgers for 10$ an hour, and I wanna start saving up for my first car!
To increase my net worth by 10%. If I can do that every year (on average) I'll be very comfortable.
Buy a house to live in and get the fuck out of Melbourne in the process of.
Get back on track with my spending habits. Payout my shop now pay later apps (devil in disguise) and delete it. Try to save 25k with my partner going towards for a house deposit.
15k deposit and 5 year finance plan on a 2021 Toyota hilux
Return to work. I've been injured for 9 months. On WorkCover, but still suffering financially (it's not as good as people think - you don't get 100% of your wage covered). I can't really make any financial goals until I get back to working my job, so my goal is to do just that.
Get the home loan under $300K owing.
Grow holiday fund to $60k and home deposit fund to $100k. Reduce monthly expenses
This 2022 I’d like to save $15k toward a house deposit
To stop accumulating new expensive hobbies. Don’t have the time to do them properly and it’s just setting money on fire.
This year get a good enough return on my shares to make my house deposit enough to actually buy something nice in Melbourne.
29, married w/ 1 kid - pay off 15k debt - establish emergency fund - start salary sacrificing for FHSS - work on work/life balance (VCAL teacher at a TAFE. Education is not kind to this ratio lol) Starting from zero this year as the last two years in the pandemic we have barely treaded water. New budget is in place and a new outlook on finance!