The new year has begun, this means goals and resolutions for 2020 have been made. Check them out here and follow along for the year!
For 2019 my only goal was to have a 60% savings rate and I reached it! I was very surprised by this, given that I took a couple of months off work to travel through Central America with my partner.
I thought about the best way to set resolutions for 2020 and the best money moves to make for 2020.
Personally, I need goals in order to be focused and know where I should put my energy. When you don’t set goals, how do you know what to do? What to give your attention to?
My 2020 resolutions are goals that I will reach by breaking them down in monthly goals and follow those until I reach them. The system I have designed for myself is all about monthly goal setting through the blog, where I reflect on and actually check them. When I just write them down, I often forget about them.
Do what works for you! What is your ideal way of reminding yourself of your goals and sticking to them?
I distributed my goals in four major categories: financial goals, health goals, mindfulness goals, and blog goals. Let’s go straight into them!
Get €300 Monthly Passive Income
2019 was the year where I focused on building my passive income. I started with €35 passive income in January and throughout the year I have worked towards €170 passive income in December. This is a huge increase and I want to keep this upward trend in 2020.
In order to meet that, I should add about €10 passive income every month. This is a great stretch goal and I’m optimistic about reaching it!
Get €1000 Income From Side Hustles
In 2019 I got a total of €411 from side hustles, broken down in surveys, selling my stuff, cashback, and blog income.
I consider this a great start and I would love to increase this amount in 2020. That’s why my goal for the new year is to get €1000 income from side hustles, which can be anything from surveys to selling stuff in my house.
Increase My Income By 10%
For 2020 I would love to increase my income by 10%. In 2019 I increased my income by over 20% and I think this is not realistic for having year after year. Of course, I’ll maximize my income increase, but at the moment my goal is to increase my income by 10%.
This year I’m not applying for a promotion at my current company, which means that my income growth will be smaller compared to years where I will get a promotion.
Have A 75% Savings Rate
My average savings rate in 2019 was 67%, including four months of traveling and two months of no income. I believe that I increase these numbers in 2020, given that the chance of me getting on another world trip next year is close to zero.
Before I went on my trip, the average savings rate was 76%, meaning that it is a realistic goal that I can achieve!
Work Out Three Times Per Week
The focus of 2019 was on building my strength at the beginning of the year and lose it all later in the year when I was traveling. I started to work out again in 2020 and my muscles are very very sore.
To get back to my level of fitness, my goal for 2020 is to work out three times per week. The workouts will be based on building strength instead of losing weight.
Walk 30 Minutes Daily
What I really liked about my job in 2019 is that we walked during our lunch break for about 30 minutes. I noticed that this is something that gives my brains some time to reset and get back to work with full focus. It must be a combination of the fresh air and the movement that my body is loving.
That’s why for 2020 my goal is to walk 30 minutes every day. Whether I’m at home, it’s raining outside, or I’m at work.
Walking is something that I enjoy, being outside and having a low-impact movement is important for your mental and physical health. Let’s do this!
One of my goals of 2020 is to get back to meditating daily. In 2019 I did this for the most part, where I sat in silence for about 15 minutes. It was part of my morning routine.
While that was great, I completely lost track of it when traveling towards the end of 2019. I’m getting up daily at 6 am again to write for the blog, meaning that I’m also picking up my morning routine and starting to meditate.
Many people are writing about how great journaling is and what it has done for them. I’ve never actually tried this, except for the time when I was 6 years old and I kept a diary. I’m not sure that counts.
I’m curious to explore journaling and see if it has anything to add to my life. I can imagine that it would be a great way to reflect and keep your mind clear of any distractions.
Plan My Weeks Of Work
Organization and structure is something that I need to plan for, it doesn’t automatically happen structured with me. When I don’t have a plan the work I do is less optimal. I’m sure I can divide my time better throughout the week when I’m planning.
This will be a learning curve for sure, but I’ll start to plan my weeks of work. Plan the big projects first, after that the smaller ones, and will try to keep to it!
I’m very curious how this goes and will share any best practices with you!
Read 12 Books
When I was younger I absolutely loved reading. I still do but I just don’t make the time for it.
In 2020 I want to be better about this and I want to read at least a book a month. I love learning by reading and this is something I want to do more of in 2020.
I already have some planned:
- Your Money or Your Life
- You Are a Badass at Making Money
- The 4-Hour Work Week
- On Writing
Any more books that you absolutely loved and would recommend, please let me know below!
I love writing and it’s something that I want to grow in. I believe that you are getting better at something when you practice it, so I want to practice writing.
My goal with this is still to publish a post three times per week, but if changes in life happen I’m okay with reducing this. I noticed during my mini-retirement that it is okay to enjoy life fully and don’t think about blogging at all. I don’t want to pressure myself into publishing three times per week.
My #1 goal is to deliver quality content that’s fun for me to write and fun for you to read. I will achieve this by writing daily and improving my writing skills that way.
Connect With Others
The thing I like about blogging is connecting with others, which is what motivates me to keep going. In 2020 I want to connect more with others, meaning I’ll do more collaborations, interviews, and comment on blogs a lot more.
My number one objective in life is to have fun. I like to write, I like to read, I like to work out, and I like to see friends – to name a few.
In blogging, having fun is something that I need to have to keep going. If I’m not having fun I’m most likely not going to stick with it.
If you’re looking for more inspiration, check out the financial goals of 22 money experts.
How was your 2019? What are your goals for the new year?
Marjolein is a financial consultant who has built over €4,000 monthly passive income and saves over 70% of her income. Read Radicals’ inspiring story, from stuck in the 9-to-5 to loving life. Feel free to send Radical a message at the bottom of this page
2 thoughts on “My Goals And Resolutions For 2020”
I have just read Work Optional by Tanja Hester. It’s not just about the financial side of achieving FI, but also about creating a life that you love.
In terms of goals I have divided them into quarters this year as trying to decide when there’s so much to do was hard. Just starting a few, mainly health-related, for now.
That’s so right, how did you like Work Optional? It’s very high on my to-read list!
Sticking to a few goals per quarter may also work, I’ve never done yearly goalsetting as I’m doing it now so I’m kind off testing the waters. Health-related goals are so important, good that you’re focusing on them!
Comments are closed.