Its not your salary that makes you rich; its your spending habits” Charles A. Jaffe

  1. Earn at least 300,000/- in dividend income. I have made a list with a rough calculation of the number of shares I need to purchase over the course of the year to achieve this. Dividends, at least for the shares that I own are usually received between the months of May and November so the first few months of the year will be a dividend drought but I really need to focus on saving the cash to buy shares before books close
  2. Bring my credit debt to zero, ie pay down my two credit cards in full before the end of the year. The one with the highest interest rate first. This will be a yearly savings of approximately 300,000/- on interest payments . Current balance = 8,751
  3. Buy a car (as my credit card debt will be zero by the end of they year, I can afford to get a small vehicle loan). I need to decide on a very reasonable budget because I only want to do a small loan with small monthly repayments. I will not include the car in my net asset value calculation
  4. Increase Net Asset Value (NAV) by 2,000,000 – I calculate this every end of the month and my goal is to do better than I did this year. So I want to give myself a goal of increasing it by 2,000,000/-
  5. CFA III Pass (more like a career goal) but I will include it here anyway.

So 2017 has fewer goals which I think is more realistically achievable and will set me on a solid path to achieve financial freedom within a few years. Obviously for me to be successful, I really need to closely watch my expenditures, make financial sacrifices knowing that its for the greater good, for my family’s future. I have to watch my savings rate, try to keep it as high as possible and continue looking for other sources of income – launch my new business, sell unwanted items and take on other projects.

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