2020 has been quite a lousy year, what with Covid-19 and all. We’ve all trudged through it and somehow survived. With news of vaccine rollout, I have a bit of optimism going into 2021.

After reading FigureRinggitOut’s post, I decided to do a reflection on my own personal finance journey.

Good Things

• Managed to slowly pare down personal unproductive debt from a high of around RM20,000 to around half of that now
• Mental health improved as no longer actively managing failed business venture
• Bought new apartment with the wife near my parents’ place. So looking forward to a place I can truly call my own home
• Got a starter health insurance for couples – check out my AXA eMedic review

Bad Things

• Still having lots of personal unproductive debt
• New apartment gonna take a big chunk out of my salary
• Still don’t have significant emergency savings
• Failed venture still exists as legal entity, so there’s unfinished business there

Goals for 2021

I’m putting this out publicly to hold myself accountable and to give a concrete target to work towards.

• Kill off personal unproductive debt – Around RM10k++ remaining
• Have zero credit card debt by 31st December 2021
• Reduce number of credit cards in possession
• Have RM10,000 saved up as emergency savings
• Save and invest an average of 25% of my take-home pay monthly without fail
• Save $10,000 to start my USA growth stock portfolio
• Close down failed business venture and move on

I’m not sure if I’m being too ambitious, but I’m gonna try anyway. I’m forecasting a 20% bump in salary due to change in paygrade next year. The only downside is, I don’t know when that will take effect (government machinery is tremendously slow when it comes to salary) so it might put a dent in my plan.

Here’s to a more positive and richer 2021! Do share what’s your personal financial goals for 2021 below.