Monday, January 28, 2019

2019 Financial Goal

Picture from my trip to Mt Kilimanjaro in 2015
Today I am going to share with you my financial goal for 2019, maybe you can copy my goal or use this post to inspire your own financial goal. I've been reading a lot of books, article, and web pages on personal finance the more I am moving away from dumping all extra money into my mortgage. Therefore, in 2019, my financial goal is to max out my contribution room in both mines and my wife's TFSA and contribute the max amount for RESP to get the full government grant. I think I have about $10,000 of contribution room and my wife about $20,000. For those that don't know, you can check how much contribution room you have by logging into your CRA account at https://www.canada.ca/en/revenue-agency.html.

While we are on the top of goal setting, there is an acronym that you can use for goal setting. SMART, it stands for: Specific, Measurable, Achievable, Realistic, and Timely. Another way you can approach goal setting is just with the five simple W's. It's been proven that a lot of new year resolutions fail because people are just not good at setting goals. If your goal is to invest more this year then specify how much more, this way you have a measurable end result.

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