First Quarter Business and Personal Finance Goals Update

This year I’ve consolidated my goals for 2013 to focus on things I care about and things that are doable. I set my sights too high last year and sort of failed. After 3 months, here’s how I’m doing:

1. Earn $10,000 From Non-Blog Related Side Income

So far, I’ve earned very little from non-blog related side income. The only thing I’ve made is a few hundred dollars from selling stuff on eBay when we set a goal and made saving fun for a few weeks. But my goal won’t be achieved that way, rather I need a new venture to kick it up a notch (or start buying more lottery tickets).

The next few months will help determine whether the product I am building for bloggers to track their advertisements will pan out. I think the idea is really solid, and am hoping to team up to really take it to the next level. So not much going on right now, but that could change in a hurry.

2. Save 50% of My Post-Tax Income

Lauren spent a week partying visiting friends in New York, and we booked a vacation for May. Those were our only major non-monthly expenses, and our spending has been much more consistent in the first 3 months of this year. As a result, we’ve managed to save 57% of our after-tax income, which is a huge win. We’ve got some flexibility the rest of the year and can still hit our yearly goal.

Looking forward, we have another summer vacation planned, and we will pay for school for Lauren possibly 3 times (summer, Fall semester, and pay for Spring semester in December). So I guess it’s good that we’re ahead of the game. We will hopefully continue our progress reigning in our spending and any extra income I can earn will give us additional breathing room.

Readers, how has your progress towards achieving your goals going?

6 Responses to First Quarter Business and Personal Finance Goals Update

  1. Wow, saving 57% of your after tax income is rocking it! Our main goal for the year is to start up our SEP’s and get to funding them as much as possible and it is definitely looking good so far.

  2. writing2reality says:

    Like John said, a 57% savings rate is truly phenomenal! While I don’t currently track my savings rate, I am progressing really nicely on my passive income goals, even though I am slightly behind schedule. I am really looking forward to seeing if the second quarter can bring me closer to on schedule, or even ahead.

  3. I like the 57% savings. That is quite impressive. You are right. That can change in a hurry. Sometimes success is right around the corner. We just have to be ready for it.

  4. David says:

    57% Post Tax savings is very good. I read in Bloomberg a few months ago that the average % Americans save is under 10% so you’re destroying the average by a lot! Where are you guys going on vacation?

  5. JR says:

    Great job on saving 57% of your after tax income!! Good luck keeping that up as the summer goes on!

  6. KC @ genxfinance says:

    That is sweet. Keep it up but still be ready to adapt to changes.

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