Personal Financial Review: May 2008

I have the following financial goals for this year:

• Goal 1: Have 1 year’s worth of basic living expenses in my emergency fund.
• Goal 2: Put away a certain amount for my retirement savings.
• Goal 3: Earn no less than Pxx,000 each month.

For security reasons, I won’t be putting many actual figures on this blog, just percentages.  However, to keep track of my goals, I’ll be posting my progress here.

Goal 1: Emergency Fund 

Progress:

Notes:  So far, I’ve saved 45% of my target amount – which is roughly 4-5 months worth of living expenses.  There’s no average amount I put in every month, but I always try to set aside P3,000.  When I reach 100% of this goal, it’s likely that I’ll stop putting money into my emergency fund.  I’ll just add to it again when I’ve used it for unexpected financial emergencies.

Read more..

« Previous Page