Monday, January 7, 2008

Goal for 2008

I've read from Money Smart and Guerrilla Investing blogs the need for a financial goal at the start of the year. These goals must be SMART as per Nina's comment in the Money Smart Blog.

S - specific
M - measurable
A - attainable/achievable
R - relevant
T - time-bounded

Hubby and I just discussed them inside the car on our way home. This is good. I just used to do it by myself and hubby juz got surprise that nothing is left for him. Hehehe. Anyway, need to write them now before I totally forget them. Here are our Goals:

1. Pay off Debt (Zero out our Housing Loan from Pag-ibig. This is doable as per our computation. Funds will be coming from: a. hubby's stock sale early this year(espp, rsu, options) - 48%, b. Hubby's espp stock sale by mid of this year - 9%, C. Monthly Amortization until end of this year - 18% , D. Apartment Rental - 21%, E. SL/VL Conversion - 6%.

2. Increase our individual coop deduction by 500php by February this year.

3. Get in touch with a Sunlife and Philam agent for our planned Life Insurance and Retirement Plan to study their plans.

4. Only hubby will get a Life Insurance. We based it from the books we read.

5. Bonuses - 10% will be kept for savings, 10% for sharing, 80% bonus for ourselves - dine out and wants.

6. Review our goal at least once a month.

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