As it turns out, this year I didn’t achieve ANY of the goals I set for myself. This is different from past years where I achieved and sometimes even destroyed my goals. Today I’m looking at my 2014 goals and figuring out why they didn’t happen.
2014 Goal: Create 6 month emergency fund
Results: I have a goal of creating a 6 month emergency fund but I did not achieve it. I built up 3 months in my emergency fund, which was an improvement for sure, but started using it recently when I lost my job. having any emergency fund at all has been a blessing and I’m so glad that I had it! I can afford a $1,000 emergency expense and more, which makes me feel more comfortable than if I had nothing.
I haven’t made a huge dent in the emergency fund yet so I’m hoping to find work again and build it back up as quickly as possible. I think I overestimated my ability to save here. Life happens and emergencies happen and then your progress gets chipped away. Until I finally have a 6 month emergency fund in place this will continue to be a goal.
Goal: Hit $20,000 saved for retirement
Results: I’ve made steady progress in building back up my Roth IRA amount this year but I’m going to make this stretch goal. I’m happy with my progress because I’ve consistently contributed to my Roth IRA this year and got over the first goal I had. However, this bigger goal was a fail.
However, I need to bump up my monthly contributions once I start working again so that I can hit this goal. Slow and steady progress is nice but I need higher contributions and good market returns.
Goal: Earn $30,000 online
Results: This is not even close to happening because despite setting this goal in the beginning of the year, by the middle of the year it was not a goal of mine. I stopped earning online income during the middle of the year because I was super focused on my day job and simply didn’t care about earning money online. That was a mistake, obviously, as I was laid off and the lack of online income really hurt. Never let go of a side hustle! Ever!
I’ve been building my online income back up and happily have been able to ramp up to $546 in the first month which at least gets me going. I’ll hopefully increase this over the next year because it’s not a ridiculous out of reach goal… it just needs some nurturing!
Goals & Failure
My goals changed and shifted throughout the year but now that I’m doing a recap at the end I realize I’m simply in the same place and still have the same goals. This is not quite what I expected and I’m not sure how to handle it. Failure is not something I enjoy and it’s not something I plan to relish or wallow in.
I will say that I’m happy I made some progress toward my goals. It’s not exactly the roaring success I was hoping for, but I did make strides toward my bigger goals even if I didn’t hit them this year. Maybe next year will be different. I’ll probably have the same goals again because I still truly do want to achieve these things in my life!