Final check on our 2020 Goals

I did a mid-year 2020 goal check in August, where it looked like we’re pretty much on track to reach the most important goals, unfortunately a larger house project thwarted some of our plans.

Before I disclose our 2021 goals, let’s see how we did on our 2020 goals as of December 2020:

Goal 1: Add at least 20’000 CHF to ETF Index Portfolio
We were right on track to reach this goal as of end of July, but in early fall, we had a larger roof insulation project that had to be paid for.

  • Degiro ETF Index Portfolio contributions 2020: 15’200 EUR
  • Withdrawal for roof renovation: -10’000 EUR

End of year portfolio balance: 11’972 EUR

We did not reach this goal.

Goal 2: Start Budgeting in 2020

This has been on my financial bucket list forever. I always found reasons not to budget. But let me tell you I am glad we finally started.

I found a online provider that will let you budget in several currencies and makes it super easy to keep a budget across several currencies. This is especially helpful if you live close to three countries (Germany, Switzerland, France) and have several currencies to keep track off (CHF, EUR and USD) like us.

This goal was reached!

Goal 3: Check for better Credit Card solution for our family

Finding a Credit Card solution that fits our need was high on the priority list for 2020. We found Revolut to work very well for our family. It gives us the option to carry balances in the abovementioned currencies, it is super easy to use and the exchange rates are fair.

This goal was reached!

Goal 4: Start looking into alternative investments (real-estate, peer to peer lending, other side-hustles)

This one is still ongoing. There are obvious cash constraints when raising four kids on a single income 😉. So we are patiently looking around for options.

Side note: I did look at an apartment to buy in Switzerland, but after looking at it and talking to some of the owners on the property, it was clear that it would have been a money pit. The financials didn’t add up.

This goal is not super urgent, and is still ongoing.

Goal 4: Tweak existing 3a Pillar account and shift to a more stock focussed investment strategy

This goal was also fairly important and was completed in May 2020. The new stock-focussed strategy can be “admired” in this post here.

This goal was reached!

Goal 5: Keep Emergency Fund of 10’000 CHF

Due to the roof renovation, we had to dip into the emergency fund 😐. Goal for next year is fill it back up.

This goal was not reached!


Overall we did not do as well as planned. But I am happy with the overall progress we made. The choosing a credit card and starting a budget was an important achievement. I firmly believe in setting challenging targets. Easy goals are take the fun out of the challenge.

Let me leave you with this:

“The plans of the diligent lead to profit as surely as haste leads to poverty.”

Proverbs 21:5

Do you set financial goals for your family? How did you do in 2020?

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