My Goal in 2015 was to earn as much as I made in 2014 but all I could manage was 50 percent of what I planned. I am not totally disappointed with the result because I understand that I did not put much effort and it was not at all planned. Today is the last day of the year and it is time to make new year resolution and ACT on it. In this article, I am sharing what my plans are for 2016 and how am I going to make it.
My Plans for 2016
The plan is basically the same but this time I will put effort right from the beginning. I have planned to have multiple earning sources this year which will together help me reach my goal for 2016.
My first goal of 2016 is to get to a new job in Digital Marketing with better salary/pay and shift to a new city. I would like to make 50 percent of what I made in 2014 through my new job.
I have planned to take Blogging in 2016 seriously and I would like to take this blog to the next level from which I can make atleast 10 percent of what I have targeted this year.
Advertisement has been a good source of income for me that gave great returns in 2014 and 2015. I am going to invest more time at this and try and double what I have made this year. I am planning to make 30 percent of my target through Advertisements.
2015 was the year where I made very less amount from the Stock Market. Compared to what I had expected, the return was much on the lower side. There was a lot of learning this year and I am expecting the market to give a good positive return. Keeping in view the amount I have invested, I am looking to make atleast 20 percent of what I have planned through Share Market.
Fixed deposit is a good source of income that gives not a huge return but you can still make a good amount of money. I am planning to make 5-8 percent of my net targeted income through Interest.
Can I make more than what I have targeted ?
Definitely. If we add the above mentioned 5 ways, we can see that the planning has been done in such a way that we can earn 120- 130 percent of what I have targeted.
If 2016 becomes a successful year for me in Blogging, I will also have an option to sell the blog and generate another 30-40 percent of what I have planned only by selling the blog.
Everything depends on the hard work and a little bit of luck.
My Budget for 2016
My plan is not to spend more than 30 percent of what I will earn this year.
Do I have any back up Plans?
If I don’t get a better job, I will spend ONE HOUR daily looking for a better job and 8-10 HOURS daily for Crack Job Interview in Banking or getting into an IIM. I have already started to prepare for MBA and may be 2016 is going to be my year in all means.