Since my post a while back where I reviewed my goals for 2016, I just realised that I haven’t written about my goals for 2017! They’ve been set a long while ago in fact. So here they are – black = my goal, pink = what I achieved in 2016, green = current progress.
- To save $30K in 2017. I saved $27K in 2016. Still working on this, fingers crossed.
- To look for alternatives other than OCBC 360 for savings. I created the OCBC Frank Account in 2016 as my “spending” account for cash withdrawals and to qualify for the promo with OCBC Securities for $15 minimum commission per trade. Purchased March 2017 Singapore Savings Bond which gives 2.38% interest. Opened CIMB FastSaver account (which gives 1% interest) during their $8 giveaway promo..
- To spend less than $1000 a month excluding monthly “filial piety fees” to my parents. My monthly spending ranged from $800 to $950 in 2016. I haven’t been great at keeping track of my daily expenses, but I make sure I only have $1000 in my OCBC Frank account to spend every month.
- To source for an alternative credit card in anticipation of cancelling my OCBC 365 card once the annual fee waiver is no longer available. Planning to apply for the Standard Chartered Bank’s Unlimited Cashback Credit Card with the $138 credit on successful card application.
- To take over all my insurance from my parents. Completed.
- To review my insurances and ensure satisfactory coverage at <$180 per month. Completed.
- Increase my portfolio dividend yield to 4%. Started buying stocks in 2016 and based on the dividend history, the maximum dividend yield I’m expecting is 3.4%. Haven’t done much changes this year as the stocks on my watch list are currently overvalued.
- Increase portfolio to $12K, with more investments in REITs. NIL change from 2016.
We’re now one quarter into 2017 already! That’s crazy.