The year is finally coming to an end. How are you doing on your money goals? I set out a couple of money goals at the beginning of the year. Below is an update on my progress so far.
1. I wanted to be debt free by December 2019. I achieved this goal in April 2019. I am currently debt free and don’t intend to go into debt anytime soon.
2. I desired to diversify my income. I partnered with my younger brother to start a manufacturing business. Currently we have about 16 employees. We have presence in seven districts (Kampala, Wakiso, Mukono, Gulu, Iganga, Mbarara, and Mbale) and we have launched four different products so far (Shake Ketchup, Appeta, Tomato sauce and enkooge juice). This project will be fully sustainable within a year or two.
3. I wanted to expand our forestry project. Together with my wife we established an additional 10 acres of pine forest in Nakasongola.
4. I wanted to increase my net assets by at least 10%. My net assets have grown by over 30% so far through various investments. My financial assets have increased by over 18 times.
5. I wanted to be more generous. I have so far given out 7% of my earnings this year to people and causes I care about.
6. I wanted to teach and inspire other people to improve their personal finances. I started The Money Engineer page in February 2019. So far I have reached over 3,500 people. The post reach is currently over 200,000. Hopefully I have inspired at least one person to take action and improve their finances.
7. I wanted to expand my financial and business knowledge by reading 100 books this year. I have so far read about 86 books on various subjects. This excludes hundreds of articles, blogs, podcasts, videos, etc. I will share my reading list towards end of year.
8. I wanted to go out of the country on vacation with my family. I am yet to achieve this one. Hopefully it will happen before year end.
So this is how I am progressing on my money goals. How about you? Share your experience in the comments below. You never know whom you might encourage.