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Goals for 2020

Photo by Glen Carrie on Unsplash

I have made it a habit to journal the financial goals for our family at the beginning of the year. To see earlier goals check out a summary post on our financial goals of the past years (2013-2018) or financial goals for 2019

What will be different in 2020

The year that recently came to a close was a year of transition. 2020 will be a year of starting new habits for our family – especially when it comes to spending, investing and financial planning.

Specifically: we will no longer add to the 3a pillar accounts. Now that we live in France, there is no tax incentive to add to a 3a pillar account and locking the money in for 30 years.

Additionally my wife and I have agreed to start budgeting. We were never frivolous spenders, but we would like to get some transparency where our money gets put, and see if we can tweak our habits in a way that will save us money and help us target our investments better.

So here they are – our Financial Goals for 2020:

Goals for 2020

  1. Add at least 20’000 CHF to ETF Index Portfolio with DEGIRO. That’s 1’666 CHF per month!
  2. Start Budgeting in 2020
  3. Check for better Credit Card solution for our family
  4. Start looking into alternative investments (real-estate, peer to peer lending, other side-hustles)
  5. Tweak existing 3a Pillar account and shift to a more stock focussed investment strategy (as outlined in one of my first posts)
  6. Keep Emergency Fund of 10’000 CHF

Do you set financial goals for the year for your family?

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