The Goals for 2015

Since I just started this blog and haven't had any real goals for 2014, except some saving goals. I am now thinking that it could be a good strategy to set up goals for 2015.

Although I had problems with how to define the goals and make them relevant and attainable I luckily found this magnificent and interesting blog post from Dividend Mantra: "The Importance of Being Smart With your Goals". Which made me understand how I will set up and define my goals for 2015.

The S-M-A-R-T goals methodology was first published in a paper from November 1981 Theres a smart way to write managements goals and objectives. written by George T. Doran. There are a few different versions of the S-M-A-R-T criteria but I will apply the ones that George T. Doran came up with the year 1981.

Specific - There should be a goal that is specific and narrowed down. Not a general goal that are vague and could be hard to measure in the end.

Measureable, In other words the goal should easily be measured in some way. It should be quantifable.

Achievable. The goal should be reachable, in other words physical possible to reach.

Relevant. It should be relevant to your journey, if its not your end goal will say.

Timeline. The goal should have a specific deadline when it should be accomplished.


So now over to how my goals will be for year 2015.

• Save 100 000 SEK from my salary (Approx. 10 000 EUR).
• Start to follow a monthly budget. I have done this 2014 but not as strictly as I want.
• Reach 300 000 SEK in savings (Approx. 30 000 EUR).
• Pay off 12 000 SEK on my student loan (Approx. 1200 EUR). 

Due to make it as simple and specific as possible will I only have four goals for 2015. I will follow up my goals on a monthly basis to keep track of them and to see that I am on the right journey to financial independence. Why so often, comes from that I realized from 2014 that I need to be much more strict with my goals to not loose focus.
As you could see have I not chosen any goals linked to the valuation of my stocks, this comes from the reason that I believe I cannot predict and affect the share price over one year, all my investments are at least based on a time horizon on 3 years. I could even say that it will be hard to predict a share price after only 3 years, but I know for fact that in some future the real value of my company will be shown in the share price. In other words a goal linked to the share price wouldn't have followed all the S-M-A-R-T criterias.

Over and out,

EWI