|80% take-home pay savings rate||82.55% average savings (Jan 85.35%, Feb 82.23%, Mar 84.41%, Apr 84.18%, May 81.40%, June 77.71%)||Exceeded Goal|
|Less than $1,400 required expenses||$1,387.13 average (Jan $1,304.19, Feb $1,500.33, Mar $1,314.30, Apr $1,361.56, May $1,399.65, Jun $1,442.76)||Exceeded Goal|
|Reduce Misc. Expenses by 15% (Exp. < $96.51 per mo)||$118.42||Needs Improvement|
|Reduce Restaurant Expenses by 10% (Exp. < $128.31 per mo)||$109.77||Exceeded Goal|
|Reduce Grocery Expenses by 5% (Exp. < $205.64 per mo)||$195.57||Exceeded Goal|
Of my 5 budgeting goals I passed 4 thus far which is an improvement over the 3 that I had passed in through the 1st quarter. I still need to do some more work my miscellaneous expenses although most of that is tied to one of my personal goals that I'll cover later. I'm really pleased with my savings rate being well above 80% through the first half. I figured this might have been a bit of a stretch goal but so far the right combination of higher income and lower expenses has pushed me above the 80% mark, despite the dip in June. I'm very happy with my food expenses continuing to creep down as both are currently under my target monthly average. They still fluctuate a lot more based on how much I'm home during a given month but overall they're trending down. It's still a bit high at $300+, but it's an improvement from the $320 through the first quarter.
|$256,000+ Net Worth||$240,113.39 thru June (+$84,161.21)||On track|
|5.80 month covered|
As I mentioned above, I've been having higher monthly income than I averaged last year. Since my expenses are continuing to trend down that just leads to a larger gap that goes straight to the bottom line and gets invested. With the markets generally being on a tear so far this year my net worth has increased over $84k through the first half of the year. I had a goal of hitting $256k by the end of the year which would have been a $100k increase, but I'm almost there through just the first half. My wife and I are in the beginning stages of looking for a house which is going to put a dent in the net worth figure. I'm going to raise my target up to $286k by the end of the year which is a $30k increase. I was planning on making a pretty large increase to my net worth goal to really push myself for the second half of the year but with the house purchase looming that's going put throw a wrench in the works. My emergency fund hasn't really improved throughout the year, although it hasn't really changed much at all either. I'm leaning towards keeping my emergency fund lower for the time being just because I'm not sure that a full year emergency fits in the overall financial picture at this time.
|Receive $2,750 in passive income (dividends, interest, option premium)||$2,697.22 received||Exceeded Goal|
|3.00%+ YOC for FI portfolio||3.29% YOC (3.44% Non-ESPP YOC)||Exceeded Goal|
|Forward 12-month dividends at $3,500 by end of year||$2,932.65 (83.79% of the way)||Needs Improvement|
|Surpass $250,000 in invested assets||$233,091.79 total value||Needs Improvement|
|Max out Roth IRA's for my wife and I||$0 contributed||Needs Improvement|
My investing goals have gone great so far this year although there's still work to be done. In the first half of 2013 I received $1,645.86 in premium from closed/expired options, $1,025.23 in dividends, and $26.13 in interest income for a total of $2,697.22. I didn't expect this goal to be reached just half way through the year but my option income has really helped out and is way more than I expected. There's still an outside chance that I could pass this goal on dividends alone although I think that'll be a stretch. I'm glad to see my YOC creeping higher through both new purchases, dividend increases, and unloading some of my ESPP shares. Those were a big drag on the YOC since they only have a 1.99% YOC and make up about 12% of my portfolio. The forward 12-month dividends are really starting to build and it's exciting to see. I haven't contributed yet to a Roth IRA for my wife or myself because we are very close to the MAGI threshold and I don't want to deal with having to withdraw the money later due to not being allowed contributions. That will be a 4th quarter 2013 or 1st quarter 2014 payment depending on where we end up.
|Lose and keep off 20 lbs.||Gained 4 lbs||Needs Improvement|
|Workout 3 x per week||Averaging 0 workouts||Needs Improvement|
|17,380 in May (16,779 avg. for 2nd quarter)||Needs Improvement|
|Monetize the blog||$75.89 in Adsense earnings||Needs Improvement|
|Avg 2 stock analyses per month||Avg. 2 per month||On target|
|Quit smoking||--||Needs Improvement|
|Read 1 book per month||--||Needs Improvement|
My personal goals haven't been going very well. I just haven't had the motivation to workout although I did go walking/jogging yesterday so I'm hoping to kick start this again. Half the year has already passed by and I've gone backwards on the exercise/weight loss goals. If I had a way to lift weights I'd be more motivated because I really enjoy doing that but it's hard to get motivated to just go walk/jog. The other personal goals of reading and quitting smoking have been very hit and miss. There's stretches where I do really good on both and then I get off track for a bit. Quitting smoking is going to be my biggest priority in the 2nd half. Not only will it save money but it will also allow for easier exercise and generally make me feel better.
The blog goals have gone pretty well. I had originally set a 10k monthly pageview target but passed that through the first quarter and raised the goal to 20k. There's still work to be done on that but overall my readership/pageviews has been growing so I'm happy. I have monetized the blog but obviously it's nothing spectacular. Considering I would and did keep the blog running for free any bit is a bonus, plus it's covering the cost of the domain registration so at least it's not costing me money. Just throwing this out there but if you've been approached to pitch a product/service or have a specific ad banner placed on your own blog, how much do you go about charging for that? I've had a few offers and honestly have no clue where to even start with a dollar number.
All in all it was a good first half of 2013 with several goals already being met and therefore raised. I'm very pleased with all of my financial goals as most of them are on track to be met. My personal and blog goals are going to be my biggest focus for the rest of the year and I'm hoping to make as much improvement on those as I have on the financial ones.
How did you do on your goals in the first half of 2013? Any new goals for the 2nd quarter or keeping everything the same?