Monday, December 29, 2008

Financial Planning - Financial Goals for 2009

Have you got your 2009 calendar ready on your table? If not yet, you still have about 3 more days to go to get your new calendar. My bf gave me a beautiful 2009 table calendar. I noticed that this year, me and my family didn't received as many free calendars as compare to few years back. Even, the company I work with also only provide calendars for selected corporate customers. Since the global economy is still sinking and not stable, I guess everyone is trying to practise the cost saving methods in every way of life.

As 2009 is approaching, it's time for us to sit down and plan for the new year, 2009. I know some of us might not favour this new year resolutions stuff, but think of it positively. The plan itself will create a pathway for your and will make your journey much easier and meaningful. Experts said it'll be more effective if you write down your goals, rather than keeping it to yourself in your head. Basically, writing it down make us hold accountable for the promises we made to ourselves and thus encourage us to work towards our goals. I am glad to know that posting in a blog is also considered as writing it down.

So, here are my financial goals for 2009:

1) Increase my annual income by at least 10%. (to be completed by Dec 2009)
2) Moving the $$$ from my emergency account to fixed deposit accounts. I don't want my emergency account to just sit in the saving account. Moving the $$$to the fixed deposit accounts not only benefit me but also to the banks and the society as they need the $$$. (to be completed by Jan 2009)
3) Invest in a new unit trust fund. This time, I want to invest in equity fund. (to be completed by June 2009)
4) Continue to top up my existing unit trust funds. (all year long)
5) Keeping a separate file for each of my unit trust funds. Currently all my unit trust funds details are in the same file. It's time to separate them. Separating them will make my fund monitoring easier. (to be done by Jan 2009)
6) Monitoring my Public Bank Gold Investment Account and top up at least once. (to be completed by 31 Dec 2009)
7) Monitoring my investment-link Pru-link assurance and see if there's a need to review the coverage and purchase a second insurance. (to be done by Sept 2008)
8) Terminating my unused credit cards, and concentrate on 1 credit card with another two as backup. I must ensure that the active and backup credit cards are without annual fee. (to be done by June 2009)
9) File and submit my income tax early. (to be done by 15 April 2008)
10) Continue with my 'fun saving' account. My fun saving accounts keep all my fun expenses. This includes fun expenses for my family and for myself. It'sgreat to be able to provide some fun $$$ throughout the financial planning journey. Life can't be serious all the time, right :p (all year long)

I hope to be able to complete the above financial goals in 2009. Perhaps from time to time, I will have new goals which I wish to add in. And I am thankful to GOD for me to be able to meet most of my 2008 financial goals. The financial goal which was not in my 2008 financial goals was starting a blog on financial planning. I am really glad for this additional goals which I started in Oct 2008. It's making my life richer :)

If you wish to set up your financial goals, make sure they are S.M.A.R.T (Specific, Measurable, Achievable, Realistic, Timebound).

Have a happy and fruitful 2009!


  1. Well said. It's important to have a proper financial planning/investments, especially when the economy is lousy and we need to plan for ours & family's future. I like when you say 'fun saving', ha.. that's right! I must start to create that 'fund' as well.

    Wishing you a very Happy New Year,and most importantly, a fruitful one ! =)

  2. Hi Ching Ya. Thank you. Yes, there must be a 'fun saving' account. Happy Planning & wishing you a great new year ahead :)