2019 Year in Review / 2020 Goals

Have really enjoyed other blogger’s year in reviews and goal setting for 2020, am a bit late to this party and have changed my mind on goals for 2020, slimming them down and trying to be more focused. Here goes!

2019 was a good year financially, with significant, for me at least, improvements to my net worth however you cut the pie. Whether I measure just my cash and investments, whether I include the BTL or my own home in the calculations, all figures are on the up and are improvements on last year. See the updated net worth in £s in my Net Worth page.

My Financial Year in Numbers

The idea that what gets measured is improved has definitely come true for me this year – I have definitely got into better habits this year in terms of

• increasing % of savings in investments
• decreasing the % of my total net worth in cash, but still a way to go
• monitoring my monthly spend so I can 1) be honest with myself, 2) look at how to reduce spending and 3) be realistic about what passive income I need for FI
• setting up more squirrel pots so I manage Xmas and holiday expenditure better

I have continued to consume lots of personal finance and FIRE content largely by podcasts. I listen to Dave Ramsey every day! Check in with ChooseFI regularly and love my UK based podcasts of Meaningful Money, Money to the Masses and Maven Money.

Also this is the year when I have started reading blogs, blogging myself and making more connections with other people in the North West interested in FI. I have been involved in two MCR FIRE meets up and have got a lot of encouragement, motivation, tips and knowledge from like minded people. I have also started reading more of my fellow FIRE chaser’s blogs as well as being more active on Facebook include the ChooseFI Manchester UK Facebook.

2020 Goals

So what about my goals for 2020. I am a goal setter and sometime goal achiever! This year I am going to be focusing on goals in 3 areas

• Financial
  • Increase savings rate to 40%
  • Increase in net worth to exceed or at least be in line with 2019 figures i.e. 28% increase in net worth
  • Increase savings / income by £2,000 with side hustles / squirreling / being more ruthless with budgeting
• Personal
  • Focus on well-being and get a better better work / life balance, leave work on time, sleep better and don’t self medicate – which will leave me more time, energy and head space to do more of the things that make me happy
• Preparation for FI
  • As well as all the the financial goals above, I also want to work on getting myself and my partner ‘on the same page’