Tag Archives: financial goals

Financial Goals for First Time Workers

2017 Financial Goals for First Time Workers

Are you a Fresh Graduate, or starting a new job this coming 2017? Then this article is for you! Know your do’s and don’t once you started earning money. We sum up below goals that will help you aim your dreams or wishes this 2017. Financial goals require regular saving or investments for a long period of time, you can start by following the tips below.

Financial Goals for First Time Workers

1. Save for Emergencies

You didn’t know what time or day would you spend more of your money. Better start saving your money now for unexpected expenses that will occur in your life. Life is full of surprises, today you have lots of money tomorrow it can be gone. That’s why we need to be prepared in handling emergency situations and building your emergency fund is a must!

2. Set your Budget

Once you received your first salary on your first job, avoid wasting it in unnecessary things, remember that it’s important to have goals or a plan first on your expenses monthly. Set your budget! You can list down all your expenses monthly and to know how much do you need before your next salary. Save first before spending. In this way, you’ll have the plan on how much money you’ll spend. Read our previous posts below to help you in budgeting your hard earned money!

3. Create your Personal Bank Account

Having your personal bank account is important because you will have own access to your money when you need it. You don’t need to bring a lot of cash, plus having a peace of mind and security that your cash won’t get stolen or lost. Check out the different savings account and compare them first before you open an account.

4. Get the Insurance you need

At an early age, taking care of your health and be prepared in any circumstances that will occur is very important. Research, or ask your friends to come up with the best insurance that will fit your needs. Even if you’re young, and healthy you’ll never know what would happen, so make sure to avail one. One more reason why you should get an insurance while you are young is because insurance premiums are usually lower compared to when you reach your 30’s, 40′ and so on.

2015 Financial New Year's resolution

Financial New Year’s Resolution

One of our avid readers, Patricia has shared her financial New Year’s resolution. Reading through her notes made me ponder and re-think my goals for this year. This really makes a lot of sense! Thank you Patricia for sharing your goals to us!

2015 Financial New Year's resolution

2015 Financial New Year’s resolution

My 2014 financial goals were easily met. Considering that 2013 was a crazy year for me and my family and that I was left with zero savings at the end of the year, my goal for last year was simply “End with more on your bank account than what you started with.” Not to say I was irresponsible with my finances; but after three years of non-stop work I had wanted something more to show for it.

My first financial goal for 2015 is to invest in my health more. This doesn’t seem like a financial goal strictly speaking, but it really is. This goal includes getting all of my vaccines in check. When my boyfriend’s aunt got diagnosed with cervical cancer, one of my first thoughts was “this was preventable”; but then I remember I haven’t gotten my HPV shots as well, because I thought the price was too steep. Investing in my health will help me avoid huge expenditures on hospital bills in the future. So, yes, it is a financial investment.

My next financial resolution is quite original; it is to check banks with best high yield savings and save more. Last year I saved at least ten percent (10%) of my monthly salary. It was hard considering I was shouldering a lot of expenses, but now that my brother is finally graduating in four months and I won’t have to pay for his tuition anymore, I want to be able to save up to twenty percent (20%) this year.

I always upheld the idea of balancing life and living. I agree that we should save for retirement and for emergencies and that we should invest for our financial security in the future. But I also don’t want to overdo it. I don’t want to live under a rock for twenty years just so I can be a glammed out fifty year old. At least for now, I want to keep my New Year’s financial resolutions simple and attainable.

Whats your 2015 Money or Financial Goals

2018 Financial Goals

My Financial Goals in 2018:Financial goals

1. Continue again my First Metro Asset Management, Inc. (FAMI) Save and Learn Equity Fund mutual fund.

2. Build a bigger emergency fund size so it will be sufficient again for my personal expenses of at least 6 months.

These were my Financial Goals in 2015:

1. Resume my regular contribution to my mutual fund account First Metro Asset Management, Inc. (FAMI) Save and Learn Equity Fund.

2. Enroll my payroll account to auto saving which will automatically invest in Balance Mutual Fund.

3. Plan for a small business i.e. Food Cart, Laundry Shop, Taxi and UV Express.

4. Complete my emergency fund target.


It is already 2018! Have you already started listing your financial goals for this year? Compare my two financial goals for 2018 and 2015. For this year, I am aiming for a simpler goals to make it more realistic.

I still remember how bumpy the road was for me on the last quarter of 2014. There were a lot of uncontrolled spending, unplanned trips and expenses during the Christmas season. Plus the fact that I started on a new job… So in short… I took the chaos route to financial doom. I lost track of my spending and I got a lot of bills to pay when January 2015 came.

Here in the Philippines, Christmas is one of the longest holidays that we celebrate. Once the “BER Months” (months ending in BER) starts, we Filipinos are already starting to set up our Christmas trees and you will see shopping malls setting up their Christmas decors. Aside from that, you will also hear Christmas songs played on almost all radio stations and even on TV.

So, while the rest of the country is listing their New Year’s resolution. Here I am, listing my Financial Goals for 2018.




How about you? Do you already have any financial plans or goals this 2018?

Maybe you can share it to us by commenting below.

year 2013

What Did You Accomplish This Year?

year 20132013 has been a pretty good year for me, even though I got into an accident last month. I was able to reach my target goal of writing one article per week last month. Due to the accident and busy schedule I wasn’t able to reach my target number of articles this month. But because of that accident I figured out that I was able to reach my target emergency fund for this year. I dont know how much to save for emergency fund but I was able to save enough to and use it to cover my expenses for the accident and without it and my family’s help I think I will really have a hard time. Anyway, there’s still some money left in my emergency fund and I will start saving money again next year.

I think saving money for my emergency fund was really one of my biggest accomplishment this year because without it I don’t know how I will survive the money I need for that accident.

So what did you accomplish this year? Did you achieve anything that made you proud of yourself? It feels really good to be able to look back at the year and know that you have accomplished. No matter how big or small it is, give yourself a good pat on the back for achieving them!

I consider this year a good even though something bad happened to me last month. I learned a lot, I started something that I didn’t even imagine that I would do. I started savings, adopted Miriam Quiambao money jars systems, invested some of my money and realized the importance of having an emergency fund.

As I mentioned before in my previous posts, I’m already thinking about my 2014 goals. I hope to save more than half of my income and to get another side job so I can earn more. I also hope to start running again aside from other few additional personal goals like starting a small business.

Hopefully, I can motivate myself to reach my goals.

I want 2014 to be a good year for me so I will do my best to reach my goals. How? Maybe sacrificing a little bit of my fun activities and use my time for a more productive things.

We make our own decisions what kind of a year its going to be for us but whatever our decision maybe it can and it will surely affect our future. It’s really up to each one of us what kind of future do we want for ourselves, for our family and children.

So… what kind of year do you want 2014 to be? Maybe you can start building your emergency fund also or start checking out best place to keep your emergency fund.

hot coffee

Setting Up a Financial Goal and Following a Budget

hot coffeeFor the past years I have been reading a lot of resources about personal finance and how to reach financial freedom. One common advice that I frequently read from finance gurus and advisors is to start by setting up your financial goals and sticking with your budget plans.

No matter how much you earn if you don’t have a goal or you are not following any budget plans then you are doomed to spend every peso of your salary to unimportant things. I know how hard it is to live paycheck to paycheck and I am the type of person that doesn’t want to borrow money from friends or relatives. I know how hard to stick to your budget and to not succumb to “temptations” (as what I call activities that needs money spending) surrounding you.

So last year, I started to create my financial goal and that is to save (30%) part of my salary to savings and spend the remaining to paying bills, leisure, food and transportation allowance and etc. You don’t have to allot 30% of your salary immediately you can start at 5% then gradually increase it. The reason I can allot 30% of my salary to saving is because I don’t have my own family yet and this time I really want to start the habit of not spending all my money and living paycheck to paycheck.

When creating a budget you need to assess your spending habits and list down activities that you think that you can let go. For example, if you buy a large coffee every day in one of the most popular coffee shop here in the Philippines it will cost you around Php150 a day. That’s Php750 per week or Php3000 per month. If you don’t buy coffee from Starbucks you can save Php36000 a year! In five years you can earn as much as Php180000 (excluding interest), enough to buy a good second hand car. I know that you need that coffee booze every day so you can work but imagine how much you can save if you opt to reduce or not to buy coffee in coffee shops or just create your own coffee. What we do today will surely affect what we are in the future. So, the earlier the you place your money banks with the best high interest savings, mutual fund or other investment avenues then more money you will have in the future.

Setting up your financial goal like following a budget will allow you to take control of your financial future. Setting up a budget can help you know where you are spending your money and can help you make changes to stop overspending.

Here are other some finance goals that you can follow. You can apply one or all of them or create your own budgeting style from the following goals. The following are just guidelines to help you start accomplishing your financial goals or avoid the hurdles that are stopping you to start saving money.

Setting up your Financial Goals

  1. List down your financial goals. You can categorize your goals according to your time frame for each goal. You can create an excel record of your financial goal to make easier for you.
  • Short-Term Goal – for projects that can be finished under six months.
  • Medium-Term Goals – for projects that can be finished in six months to a year under.
  • Long-Term Goals – for projects that will take more than a year to finish.
  1. How much money will it take to reach each goal? Estimate the cost of your goal and write it down as one of your category.
  2. Set a target date for each of your goals on your list, and use this as your deadline that you need to meet or beat.
  3. Determine how much you need to save in order for you to reach your goal. You can divide the estimated cost of your goal by the number of weeks or month until your target date to know how much money you need to save each week or month to meet your goal. Place it under the “Amount to save weekly or monthly” column of your file.
  4. Budget for your goals. Rework your budget to include the money that you need to finish your goals. If you still don’t have enough money after adjusting your budget to include your financial goals then think of other ways on how to make extra money to fund your goals.
  5. Put your plan into action and execute and no matter what happen do not stop until you reach those financial goals.

Here are some tips so you can accomplish your financial goals:

  1. Be TRUE to yourself.
  2. Be REALISTIC on the amount of time and money you need to finish your goal. You can set a higher estimate to cover any adjustments.
  3. Be MOTIVATED. If you are losing hope congratulate yourself on how much you already save and not how much you still need to save to reach your goal. You can also keep a progress report for yourself to see how much you already progress when you were just starting.
  4. Do not give up and just continue to reach your financial goals. It’s expected that you will encounter setbacks but do not stop. You can set or adjust your target date but do not stop in reaching your financial goals.
  5. If you need to accomplish several goals pick which one is the most important and make it your priority. After you reach your priority goals you can now move on to the next.