December 2013 Goals

This month I have a lot of short-term goals to accomplish, and a lot to think about in terms my long-term goals. For the first time since I moved back to Vancouver, I’ve gotten the urge to really tackle freelancing again. I’ve got a few great ideas half formulated in my head, and I really want to pursue them. Now I just have to figure out how to do that, and maintain my full-time job as well (which I still love). :)

As you can tell from my budget below, I plan on spending more than usual this month. I’ve increased almost every category, but most notably – entertainment (from $100 to $200), clothing (from $0 to $250), and travel – I’ll be going back to Victoria for about 5 days over the holidays, and will be taking my car with me.

12 - December Budget

 December 2013 Goals:

  • Run 100 km. Since field hockey season takes a break through December and most of January, I’m going to have to rely on running to get me through the holidays. :) I have committed to running a half marathon near the end of January – the Vancouver Chilly Chase – so I actually want to be prepared for that one.
  • Save $700 into my Retirement Portfolio. I currently have $200 auto-deducted bi-weekly into my RRSP, so this means I’ll need to come up with an additional $300 to put into my TFSA.
  • Take on a new freelance writing contract. I have been talking to a few magazines/newspapers/blogs, and it looks like I’ll be taking on at least one new position. It will be very part-time, and won’t bring in a ton of money, but it will help me in my quest to increase my income for 2014 (and save more).
  • Earn $1,200 in freelance income. December is a slow month for the blog, and for assignments, so I’m going to count all paid and billed-out invoices for this goal.
  • Clean out my closet and my storage area. I have a lot of clothing I no longer wear anymore. So it’s time to get rid of it all and donate to charity. Also my storage area is just a dumping ground for my stuff. It needs more organization.
  • Make a list of home improvement projects that need to get done. Off the top of my head… painting my bedroom, buying a new bed (and mattress), insulating my floor, installing wooden blinds, getting my baseboard heaters to work. There’s a lot of stuff that I’d like to do. So I need to prioritize and price them out. Then see what’s practical to get done for 2014.

About Krystal Yee

I'm a writer, personal finance blogger, and marketing professional based in Vancouver. I'm a former Toronto Star (Moneyville) columnist, author of The Beginner's Guide to Saving and Investing, and co-founder of the Canadian Personal Finance Conference. When I'm not working, you can usually find me running, playing field hockey, or plotting my next adventure.

4 comments

  1. Hi Krystal,

    Long time reader, never a commentor :) But I have a question now…
    You mentioned wanting to increase contributions to your retirement account so that you could reach your retirement goals faster and I’m just wondering whether or not you’re taking your employer match into consideration with this goal.

    Basically what I’m asking is, is the $700 you plan on contribution this month in addition to your employers contributions to a pension/ retirement account etc. (assuming these exists) or is this the only contribution any of your retirement accounts get?

    Not sure if it’s a post I missed, or if you even talk about it, but I’m curious and as you seem pretty open with your finances, I thought I’d ask.

    Nss

    • Good question! I’ve never mentioned it before, but I don’t get a pension with work. In fact, I’ve never worked for a company that offers a pension (or an employer match) – except for the government, but I was always in auxiliary positions that didn’t qualify. Early in my career, I had to make that decision – stay with government, get a full-time permanent position, and become a lifer to take advantage of the sweet pension (like my mom did)… or branch out on my own and work for private companies instead. I chose to go private because I think I can make more money, progress my career faster, and be challenged more professionally. But because of that choice, my retirement is entirely up to me.

      The $700 that I plan on contributing is the only money that my retirement accounts get, which is why I’ve become a bit concerned with my savings rate. As my income grows, I need my retirement savings to increase at the same rate.

  2. Best of luck with achieving your goals. Mine this month is to save as aggressively as possible to really start 2014 with a bang. We’ll have quite some new expenses next year and I’d like us to be even better prepared.

  3. Great list of goals, Krystal! I’m also thinking of buying a new bed in 2014. I’ve had mine for… way too long.

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