Financial summary – year of 2020

My financial year starts with the latest salary day before the Christmas/Holiday Season so that I can see how I have done during the last year and can plan better for the next year during the Holidays break. Hence, I found a chance to look at my records and see how I have done in 2020 financially.

Grocery: $3,772

Eating out (by myself): $94; cab ($133); clothes: $132; hobbies: $39 (thanks COVID-19…)

Dining with others/home visits: $720

Junk food: $1,818 (whoops!!)

Cleaning and self-care products: $1,564

Medication/healthcare products: $1,117

Gifts: $200

House maintenance expenses/furniture: $384

Others: $1,675

TOTAL: $11,660

Mortgage, insurance, bills, and bus fare:

TOTAL: $30,704



Pre-mortgage payment:

TOTAL: $7,500



TFSA+RRSP: $15,711


Increase in net worth (including mortgage paid off, investments, and the funds in the chequing account): $59,163

Overall, not a bad year in terms of the increase in my net worth. I am also happy that I made mortgage pre-payments and continued to invest and save. I am also grateful for having the means to pay for my healthcare related expenses, such as new frames and lenses, and medications. It is also good to notice that thanks to COVID-19 pandemic(!), certain expenses were low this year.

I could save more, certainly. For example, I cannot believe I spent such a large amount for junk food (soft drinks, chocolate, and so on)… It is an ongoing battle to cut junk food from my life. We shall see how it will go this year!!

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4 thoughts on “Financial summary – year of 2020

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    1. I hear you.. It is sometimes tedious. I am lucky because I keep things recorded on my computer, which I use extensive hours in a day (for work), so over time it became easy for me. Keeping records is also good for curbing my spending – I can see what I spend in a week, and it can be quite effective in not making the next unnecessary/non-essential expense

      Liked by 1 person

  1. Well done, another year over.
    Like you we have not spent so much on certain categories due to COVID-19. Transport costs for instance have been right down. Same with clothes and shoes, and personal care (no going to the hardressers).
    But what I can see is that we’ve spent somewhat more on groceries and more in eating out/takeaway. My justifications for the latter is that we’re supporting local businesses in doing so, so that makes it ok><

    I have been pondering if we should increase our payments on my student loan and our mortgage. Due to COVID-19 and Brexit I feel unsure if it is wise, and if it would perhaps be better to keep the money in the bank. At the same time even a small overpayment each month would cut down the interest rates. Hmmm.

    Liked by 1 person

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