My yearly review

As I mentioned last year, I’m not big on New Year Resolutions. But making goals and reviewing them is very important and can really clarify your values and your money situation. The past few years, I’ve done an informal, high level yearly review of my financial situation, and it’s really helped me gain a perspective of how my goals change over time. I’d like to share with you my 2018 review.

Here is my list of financial goals for this last year:

  • Be making enough money with my own business to sustain myself at my Bare Bones Number.
  • And if I haven’t achieved that, have a part-time in a related field to continue growing and expanding professionally.
  • Stay debt-free!
  • Contribute to my retirement funds
  • Have a retirement portfolio worth $xyz. [Author note: I have removed the amounts for this goal, but I’ll talk about whether or not I have achieved it, and how it worked for me]

So how does this list compare to where I stand right now?

Be making enough money with my own business to sustain myself

NOT YET. This has been my number one job this year. But I look back and I don’t even recognize myself. I had no one to look to as a role model for being a small business owner. Neither of my parents owned a business, and I don’t have friends that own their own business, either. It has been a crazy steep learning curve, but I now consider myself a business owner and entrepreneur. I am not yet in the black. But I am proud of myself for two things; I have not gone into debt while starting my business, and I have learned so much this past year that I actually feel like a business owner! I know how to market and sell in a way that is in alignment with my values, and how to stand in my self-worth.

NOPE, I didn’t do this. Even though I haven’t quite achieved point one yet, I am on track to do so. I want to make sure every ounce of my energy is going into that goal right now.

Stay debt-free!

YES! I have done this so far! This is a huge achievement for a small business owner, let me tell you. There is no shame in getting a business loan, and if I end up needing one, I’ll certainly get one, but I really want to make a go of this without debt.

Contribute to my retirement funds

NOPE! I have set this aside until the first goal is achieved. I am ok with this because I am already ahead of the game with retirement investing.

Have a retirement portfolio worth $xyz

NOT QUITE. Because I haven’t been contributing, and the market hasn’t been stellar, I think it’s probably only a little over where I was last year. But seeing as I’m quite a bit ahead for my age, and I’m committed to changing the trajectory of my life, I’m totally OK with letting this one ride.

What else happened this year?

  • My ex-husband and I still have a lovely relationship. This is so important to me, and we’ve both invested a lot of time and energy in being supportive of one another in our new quests and achievements. He’s been one of my biggest cheerleaders, and I’m so proud of his new job in the space industry! I know that is the fulfillment of a childhood dream for him.
  • I invested in a Business Coach. As a coach, one should always be investing in coaches (the general advice I’ve always heard is never hire a coach that doesn’t have a coach of their own!). She has revolutionized how I do business. I am streamlined, and probably ten times as effective as I was this time last year, all because of her.
  • I have also taken this opportunity to practice being more present with my friends. I have a solid group of long term friends, and I want to make sure to nurture those relationships.

What conclusions can I draw from this review?

Look at how many places I “failed”! I only have one goal that is an unqualified success. But did I really fail? Heck no, of course not! I have grown so much, changed my path and my perspective, and have become a more confident person. My goals were helpful, because setting them gave me a path, but if I had been too rigid, I wouldn’t have been flexible, and open to new opportunities. So I’m delighted with where I am, and I’m excited for the next year to start. As I said last year, it’s remarkable where I am this year as compared to last year. I feel like a completely different person. I’m confident in ways I never would have thought to ask for, and I’m more aware of how to heal some other parts of my life that I haven’t quite gotten to, yet. This year has most certainly not been all kittens and cinnamon. But it has been one of the most productive and revealing years of my life.

What are my goals for 2019?

My financial goals haven’t changed much over this last year. I am going to continue with a variation of what I had last year.

My list for 2019:

  • Continue to make my new business my primary source of income
  • Be in the black with my business
  • Keep my expenses low while starting my business

What about you?

What does your 2018 review look like? And what goals have you set for 2019?

Are you struggling with debt, spending, or your relationship with money? Schedule your free one-hour Money Empowerment Session to better understand your money stories, and get recommendations for taking the next step to healing your relationship with money!

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About the author

I work with individuals and couples to create a healthy relationship with money, in person or online. I can help you save money, pay down debt, and experience financial bliss! You can read more about working with me or sign up for a free session! Let's Talk »