Family Objectives Q1 Update

At the start of the year I set out some objectives for the year which would help to keep us on track for the year. I promised to give an update on these once per quarter, so here is the Q1 update.

Fire Rate <= 2.8%

Currently our fire rate is at 2.1%. The fire rate is the ratio of our spend to net worth, annualized. So the much touted 4% rule would be a fire rate or 4%. A very conservative draw down would be 2.5%. So currently we are well on track, but there is one caveat that our two largest expenses of the year occur in H2 (property taxes and school fees).

Number of new phones/ipads/computers purchased = 0

This is pretty straightforward. We didn’t buy any new major electronics in Q1. Our daughter did get a new phone as her old one broke and was almost out of contract. But she paid for that one herself.

Grocery bill < $600 per month by EOY

Our currently grocery bill is averaging $625 a month, which is under $718 a month from last year. So we are a bit over in Q1. Hopefully we can drop this down a bit in Q2. Our larders and freezer are pretty stocked so we should be able to hold off a bit over the next few months.

Miles run per week average 15 by EOY 

I’m a bit under this and during Q1 only averaged 12 miles a week. This was in part due to bad weather and also due to a small injury a couple of weeks ago. I did complete my half marathon last week though, completing it in 2h 11m 39s which was faster than I had budgeted for (though about where I hoped I would be). Hopefully now the weather is better I can get out more regularly.

Number of posts >= 85 in 2018

This will be the 27th post of the year, so i’m well ahead of where we want to be. There will probably be a 3 week break in the summer while on vacation, but I’m confident we can keep this up.

So of the 5 objectives we are on track on 3 and slightly behind on 2. However I am confident that we can pull these 2 back on track.

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Steve TraylenIncome Master Recent comment authors
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Income Master

Good progress on your objectives! I’ve been gradually increasing my cardio this year as well but generally doing sessions on the spin bike rather than running. So far I’ve done 55.3km for the month.