How far out do you guys project out your finances and/goals? Is it odd for me to be budget/forecasting my income in the first 1-2 quarters of 2019?
If I were to sum up my year financially I'd give my self a B-, maybe even a C+
Where I did well was in the fact that I paid for almost everything in cash. I did not acquire any debt for consumer purchases. I also paid off about 35% of the little debt I had. Where I did mess up was in getting "new debt" in the form of speeding tickets (anyone lives around DC knows that the city is just one giant speed camera trap
).
I also didn't do much by way of investing and I didn't hit some of my savings goals. From about April till now, my spending did bulge a bit but then again, I did a lot of traveling in that time period.
Seeing as 2019 is pretty much here, I've begun planning for next year. Biggest things for me are:
1. New job with at least 20% more what I'm making now.
2. No debt by Mar 1st 2019.
3. Increase my savings from 3 months to about 5 months of expenses by July 2019 (Economists are predicting a recession)
4. Use my tax refund for a holiday in Brazil/Colombia or South Africa (a young breh still gotta live
)
5. About $3k - $4k in various investment schemes (401k, Roth IRA etc) by mid-August 2019.
There are some other goals that I'm still working towards and still are a bit fuzzy in terms of timing. One big one is a side money and passive income. I think technology is the future as far as side income is concerned. I've been thinking of apps or even possibly a forum similar to the Coli but targeted towards the Nigerian diaspora market. I know there's Nairaland and Linda Ikeji but their layouts, particularly Nairaland, isn't the best. The Coli and LSA have very good UXs.
My pivot to Nigeria may not be ideal for end of 2019 but more so early 2020. Ideally I'd like to go to the country with at least $10k of solid capital and a corporate gig in either Lagos or Abuja. From there, I can start putting capital to work on different ventures. Lord knows Nigeria is a country you don't want to quickly run to without a solid plan. Heck, you can even go with a plan and still get chewed out
.
Been talking with a lot of my close friends and there really comes a point in time where the phrase "I want to be X when I grow up" no longer holds weight. I'm 23 now. I've grown up. My choices are starting to have a lot more weight.
Put a young breh on some good advice.