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Chapter 1: What financial goals should I consider for 2022?
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Chapter 2: How can I reflect on my financial achievements from the past year?
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You'll find our full disclosure, disclaimer and link to our financial services guide in the show notes.
Chapter 3: What strategies can I use to set realistic financial goals?
Kate Campbell, welcome to this episode of the Australian Finance Podcast.
Good to be back for one of our final episodes of 2021.
Wow, what a year it has been. It has been. Full of ups, more ups and further ups. It was a hell of a year. So Kate, today we're talking about setting your financial goals for the new year being 2022. These are always a bit of fun. We get to kind of, I guess, prognosticate, look out into the future and say, what do we want to do? But we also get a chance to reflect.
Chapter 4: How can I create an action plan for my financial goals?
So let's talk about the year that's been. Let's reflect on it. How's it been for you?
Yeah, I think it's been quite good in terms of financial goals. I've learned a lot. It has been a big year of personal development. I've managed to stick to most of the goals I set myself at the start of 2021. I had to do sort of a mid-year adjustment, which is part of what I'll suggest to everyone today is actually scheduling that in to go through and go, hey, what's working? What's not working?
What do I want to change?
Chapter 5: What role does automation play in achieving my financial goals?
And I think that's it's a really important thing to do, setting goals. And you can do that at any time. You can just decide I'm going to start running tomorrow, which I did this year. But I think there's something quite cathartic about setting.
spending a few days near the end, like in December 2021, actually thinking, what do I want to achieve with my finances, with my financial knowledge, with the way I invest? What do I want to do in 2022?
And actually dedicate some time to it because it can be quite a significant amount of money if you're thinking about changing your super or investing for the first time that you actually want to spend more than an hour or so on it.
Okay, so you've got some prompts here for people and you'll be able to access all of this if you go into the show notes, just follow the links. So you've got some steps here that people can follow to kind of reflect and also to set, I guess, expectations for the future. So these are really interesting prompts, I would say.
Chapter 6: How can I build a safety net or emergency fund for 2022?
So we've got six sentences about my finances in 2021. The wisest decision I made. That's a really interesting one.
Yeah. And I put these, these are my question, I just changed the title, but they're from a company, not even a company, it's just a group of people overseas called Year Compass that create this document on reflecting on your finances, not even your finances, your life each year. And so I'll link that in the show notes, but they're a great organization.
And I just thought these reflection questions are really good if you need some sort of starting point And to think about how you managed your money this year and what you'd learnt. And I know so many of our community started investing for the first time this year.
So even thinking about the wisest decision you made, it could have been setting your emergency fund and saving up or it could have been making your very first investment or paying off some debt.
Chapter 7: What steps should I take to stay accountable for my financial goals?
But just reflecting on these things is really important.
So I'm going to ask you one of these questions rather than go through them all. I'll just ask you my favorite one. The biggest thing that you completed in 2021?
I don't know. Another six units of my law course.
Yeah, right. Okay.
It was a big challenge.
Yeah.
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Chapter 8: How can I prioritize my short, medium, and long-term financial goals?
And how about, what about if we talk about for, this would be a bit of fun. If I ask you the biggest risk you took with your finances?
Wow.
I invested in some pretty high risk small caps that Owen had put in his program. So some of them worked out really well.
Yeah, some of them did. Maybe some of them didn't. No, but for the most part, I hope they did.
I mean, that's probably more high risk. I didn't make too many wholesale changes to the way I invest this year. I kind of continued a setup that I was pretty comfortable from last year. Obviously, didn't really have to save for travel or anything. I didn't have any big savings goals. But what about you?
The biggest risk I took with my money... I mean, the house was last year, but you did sink a lot of money into it this year. Yeah, so we put a lot of money into it this year. There's another prompt here, which is actually in the next section, which is, what was I not able to accomplish? And I read that in the lead up to this show today, and...
Like I think that's for both my partner and I. I think that's the big thing is that we weren't able to invest as much. And the reason that we weren't able to invest as much is because we were putting it all into the house.
You wanted a nice deck, you wanted to landscape, you needed to paint the rooms because they were multicolored.
Yeah, they were all multicolored. Yeah, they were all different colors, all different. And they're not like, this is not pastels. They're not like nice colors, by the way. They were like purple, bright blue, fluoro yellow. Like it was all going on.
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