We have new financial plan sample for this year. I firmly believed that year 2016 will be a great year for economy, for our investment and for our financial being.
Meanwhile, New Year eve in Dubai was awesome. Most of the high end hotels are fully booked. Seemingly that the economy of Dubai is doing well.
Though there is one five star hotel that caught fire, yet it does not hold the excitement of fireworks. There’s astonishing fireworks display in the world’s tallest tower, Burj Khalifa.
Actually there are various fireworks displays around Dubai. It took about 24 minutes simultaneous fireworks.
Our New Financial Plan Sample
This year we have our new financial plan format for my family.
In the beginning of this year, I deposited an equivalent to $2,120 as our savings to our saving account in Philippines. As you know my family and I are living in Dubai for more than 10 years now.
We set ourselves to aggressively save more money this year. We are saving for our financial freedom. We keep our savings and other funds in our home country, Philippines, in order not to be tempted to spend it.
We have also savings here in Dubai. One of the biggest tips in saving money is to put your savings in place that you cannot access easily. This is to avoid the temptation to withdraw once you want to buy or spend.
I also withdrew my savings in the national bonds saving program here in UAE. It lost my interest instead I lend it to our friend. When we lend money to other people (not family or close friend) we usually charge an interest.
Another financial plan sample for our family for this year is to keep investing in different companies listed in the Philippines. I can trade and monitor my investment daily. Stock investment is very risky but I do my homework before I jump on this kind of investment.
Investing in stock market is very risky. China stock market is going down and other countries stock market are also affected.
I doubt that there is an interconnected trading algorithm that is why there is a domino effect on other stock market.
Additional personal financial plan is to engage in real estate investment. We are still paying monthly for the condo unit that we bought during the pre-selling. Actually, we are planning to sell it and use the money into different investment vehicle. The only problem is that we are not in the Philippines to execute the selling process.
On other hand, our lot property has only 5 months remaining before we will pay off. This is a residential lot and over the years the value is keep rising. It is important for our family to keep living simply in order to live below our means.
On weekends we are trying to bring kids to the park to play. Kids need bigger space to explore, run and play. It is practical rather than going to mall. Going to commercial places will end you up spending money.
I am still working with my present job but I am looking for a new job as a senior engineer or manager in building construction. I want to work more for about 1 to 2 years. I want to keep investing in stock or other properties while working.
We need also to add our savings and investment in bonds. However, if things will not go to the plan, I am keeping myself ready to venture into business. I want to start it small and let it grow along the way.
Though we are experiencing a challenging economy still there are lots of opportunities to make money and to invest. I am positive that this year will be good.
I believe that we are the one who are creating our own luck. I firmly believe that this year will be our lucky year.
Photo Credit: SIM