Financial report 2019

It looks like it has been a great year.

I could save mostly in the second half of the year and boy, was it good 🙂

  • My net worth increased around $62,000 in the last year. More than half of it is my investments and the return; as the markets have been doing good lately, this is reflected as a good increase in my overall net worth. Great 🙂
  • I did not pay any mortgage pre-payments and it shows: I paid only $16,000 off my mortgage year. This feels very little, but nevertheless I am grateful for it 🙂
  • My chequing account has increased to a healthy sum that I had aimed for; it feels amazing as I was hardly able to reach such a goal before. Amazing.. 🙂
  • This being said; right after these calculations I put an order for my first pre-payment in the amount of $5,000 🙂 It will be in effect next week. This way, I will enter 2020 with less than 110K debt. Thank you. Thank you. Thank you 🙂

I do not know you but we have less CPP contributions starting summers, so the winter means we get less of a salary and as a result, our savings are much less during the first half of the year. As also the power bill gets higher during winter, this translates into small accumulations. Kind of discouraging, but here is my plan which I hope will help me do well:

Continue the following practices:

  • taking the bus or walking, rather than taking the cab
  • continuing to take advantage of loyalty cards and occasional coupons
  • stocking up dry food and cleaning products when they are on sale
  • continuing to shop from thrift stores, especially clothes, trousers, house items, flower pots, and books
  • contributing the tax return, coupon and loyalty card savings, and anything else that comes extra or by luck to make a pre-mortgage payment. I am still not sure whether I will do these payments as I go, or at the end of the year.

My plan for the next year is to contribute $19,000 to RRSP/TFSA and save $5,000 as pre-payment, and have my chequing account increase by $5,000.

Wish me luck 🙂

 

 

 

 

random thoughts

I lack my regular excitement for the upcoming holidays.

Why?

Because I have not been anticipating.

It is true – anticipation of having or doing something makes it more exciting. I still have a week before my 2 weeks of time-off starts.

So I kind of hoping that I will develop that anticipation and, hence, the excitement of the holiday season!

What could be my plans and therefore anticipation items for the holidays?

Hmmmm….

 

1. As usual, I will analyze my spending in the last one year and calculate the savings and net-worth next week. This is exciting.

Planning for the next year will also be exciting. Are there any areas in my financial plan that can be expanded, changed, or improved? How can I save more money? Can I get a side gig and earn some extra money?

Good questions.

 

2. As usual – again, yes – I could look at my life style and implement healthy choices; better eating; more diverse food; losing weight; walking everyday; home-exercises, especially to strengthen my back, bones, and muscles

When can I make them permanent efforts?

 

3. New hobbies! I am getting interested in stained glass now – can I find a workshop on it?

Can be quite exciting 🙂

 

4. Cleaning and decluttering the home – yay!!! My most consistent holiday season activity :((( Hah haa…. or Argh….

I love decluttering, but cleaning not so much. Often times it takes around a week to do this cleaning…… I also need to declutter my computer files and email…. Well. one thing at a time…

 

5. I sure would like to shop.

There are a couple of items I am eyeing now – a TV and stainless steel kettle being the two of them. I can also get some furniture for home, especially cabinets. I also would like some new pants and a purse. These last items may be easily found at the thrift store, which you know I am a regular customer of 🙂 I have not been to the thrift stores for some time, so I am looking forward to this.

 

6. Reading books, visiting cafe houses, eating different foods, and reflecting on the year going by…..

Just stopping will be so good… So good…. There are so many things to be realized and appreciated once I manage to stop running from one task to other, from one plan to the next. Reflecting has always been one of my most cherished activities.

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Reflecting on 2019 and welcoming 2020 with hope, excitement, and love.

Hmmm.

.

.

Yes.

🙂

 

 

 

 

 

shopping ban week

Gotta curb this spending habit I have been having lately (mostly cab and junk food expenses… yes, again… time to fix this).

What is the plan?

Well – I budget only $60 to consume till the next pay-day (12 days), including grocery and others. Should I walk in the morning and save the bus fare, this amount may as well increase a little bit. Then I can go buy some more pots from thrift store for my plants.

My choice now 🙂

I have everything I need; my fridge and pantry is full of food; and I have no urgent needs (except the physiotherapy and dental fees that I expect this week).

Let’s do it!

towards the end of year financial calculations

I have 8 more days till the end of my fiscal year (next Thursday) when I will add up all the savings, expenses, and the net worth together to see how well I have done. 

I could not wait and did some preliminary calculations. I have room for improvement and also room for enjoyment. 

Overall, I spent more than I budgeted for for unnecessary items (like junk food). 

I also made significant expenses related to a trip/vacation and socials.

I am not sorry for any of these right now, but one thing is clear; if I want to save money, I must be consistent. The first half of the year I have done extremely well, and then started to spend unnecessarily.

And another thing clear to me is that if I want it, I can make it 🙂

I am on the right track, but I need a new strategy, better mechanisms to not make unnecessary silly expenses.

Cannot wait to plan these next week 🙂

 

 

weekly budget check

It is a great day my friends; I made a lump sum payment today that I have been saving money for since the new year! I am so happy that I could make it, that I could save money, and that I did not need to use the line of credit to pay it off. I am quite proud of myself! 🙂

This means my chequing account is back to a level that I must keep an eye on and make sure that it increases every time I get my pay cheque. My plan is to keep going like this till December and then make a lump sum pre-payment to mortgage. I am hoping this will be around 4K or something. It is such a pleasure and joy to be able to have such an effective budget, reduced spending, great savings, and ability to feel abundant and not poor(!). I am so happy with these right now.

As per my weekly budget check; in short I have had regular expenses (such as for grocery), bought two blouses from the thrift store, and purchased some medications within the last week, but my expenses were still within my limits and all work out really well.

I have $1,320 accumulated in my fun funds, which I plan to use for a short vacation sometime in October (yay!).

During summer months my salary increases because I guess the CPP payments are done till then and that means there are more money left in my pay cheque. This is a pretty nice sum for me, which always excite me. Together with that extra money, my aim is to save at least $650 from my biweekly salary till December. This money is what I want to use primarily for my pre-payment in December.

This being said, I put a pre-payment order today for next week in the amount of $350. I saved this money in the last 4 weeks by lucky encounters (such as expenses at socials that I did not have to pay for others), having breakfast at home rather than at a cafe, savings from discounts etc. This is the highest amount (other than my tax return) that I put in as a pre-payment this year – this excites me 🙂

I am excited. I am happy. I am proud. I have a budget that works wonders for me, financial aims that excite me and I keep working towards, a simple life-style that makes me happy, relaxed, and abundant, and a great job that pays me good enough so that I can do all the savings, necessary expenses, mortgage payments, and investments for my future.

I  am very grateful.

🙂

semi-annual budget check

Now that almost 6 months have passed, I wanted to have a look at what I had budgeted and what I had spent.  Main numbers for variable expenses (i.e. not including the bills, mortgage etc.) are as follows:

1. I spend around $66/week for groceries, occasional cab and eating out. 

2. I so far have not over-spent my weekly allowance that covers the expenses listed above ($120/week budgeted)

3. However, I spent $232 for cab so far – the majority of the time I could take the bus or walk. That bothers me, but I must let go.

4. My “other”expenses including socials, treats, donations, gifts, medication/other health related expenses, personal care (such as hair cut), hobby/sewing notions, clothes, and cleaning product purchases constitute a higher amount than my “weekly allowance” expenses: a total of $2,281 or $88/week (averaged) so far. I have budgeted a total of $6,500 for this year. 

5. My total expenses per week (weekly allowance and “other” expenses together) come to a total of $154/week (on the average)

6. I also save by following the discounts, using coupons/loyalty card points, etc. This amounts to $1,899 so far – $73/week  (which is an amazing amount, by the way) 

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So some categories are doing awesome, others need some more careful thinking, but overall these are very good numbers.

This year’s budget has been really good and I have been doing really awesome – so let’s go get that ice cream!

Baby GIF - Find & Share on GIPHY

 

gif by:https://giphy.com/gifs/art-funny-iscreaming-AGGz7y0rCYxdS;

 

 

 

weekly budget check

I did not post the weekly budget check last week; it is quite similar to this week.

Basically, I keep staying within my weekly allowance and do not make other expenses, such as dining out or purchase of personal/cleaning products unless necessary. Despite my best efforts though, the funds that I can regularly save after my expenses, mortgage, bills, and RRSP/TFSA contributions is not overly significant. This worries me because this is how I increase the money in my chequing account. So far it has been going only up yet slowly, so it must be okay. Yet I wished I could do better, oh well 🙂

Anyways; I am excited to say that I keep making mortgage pre-payments whenever I find a chance. I did one today 🙂 Looks like every month I can do one or two payments with a minimum of 100 bucks. This does not sound like too much, but I would like to think that it is making a positive change in my debt 🙂 

Overall, I am very happy and grateful for my frugal life. It has been somehow rough lately and i have been taking the cab sometimes even though I really do not like the feeling afterwards, but i want to believe that I take the cab because I need to pamper myself. If a 10 bucks ride is going to make me feel better, honestly, there is no need to brag about it. I just am worried that it may become a regular thing – that is all. 

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Here is this week’s spendings and savings:

Weekly allowance: $120

Expenses related to the weekly allowance (grocery and cab rides x 2): $62.5

Fun funds saved this week: $120 – $62.5= $57.5

Fun funds expenses: $0

Total fun funds accumulated so far in 2017: $908 !!! 🙂 

Other expenses: $42 (personal care purchases, such as moisturizer)

Savings from would-be-expenses: $29 (these are the savings from expenses that I would normally make, but decided not to; such as having breakfast at home rather than at the local cafe).

Mortgage pre-payment: $211 🙂

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And, last; I am happy to say that I keep consuming the food I have “hoarded” in my freezer and pantry (e.g. pasta, beans, frozen meals, frozen bread, canned corn and beans, etc.). I have actually replaced some of the food with fresh batches, which feels real good. I plan to prioritize the food in the pantry more – I have quite a bit dried veggies, wild rice, and cracked wheat still to consume, though! Lucky me 🙂

Happy savings! 🙂

DAY 6 – #TheLeanSpendingMonth

It is February 6th, the 6th day of #TheLeanSpendingMonth.

What did I spend money on today?

Nothing 🙂

Not even the bus fare 🙂

Only because it has been a snow day! Yay!

Friends; it is exciting to spend nothing 🙂

But it is also concerning that one day whatever I have at home will be consumed and I will have to purchase them. So there will be purchases coming.

But, until then let me feel this joy 🙂

——————-

Number of no-spending days so far: 3

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Gratefully acknowledging my good fellow-blogger Decluttering The Stuff, who is in this challenge with me and keeping an excellent company!

Hurrah to us 🙂

Pj Harvey GIF - Find & Share on GIPHY

 

weekly budget check

One day belated, but here is my weekly spendings 🙂

Overall, I am keeping with #TheLeanSpendingMonth plan and as of Feb 1st, I also am recording my daily spendings.

——————————-

Weekly allowance: $120

Expenses related to the weekly allowance (grocery, breakfast/coffee at the cafe, cab rides- if ever, and other little miscellaneous expenses): $55.5

Fun funds saved this week: $120 – $55.5 = $74.5

Total fun funds accumulated so far in 2017: $432  (yay! wow! so much saving – thanks me! 🙂 )

Other expenses: $0 for the third week -A miracle! 🙂

Savings from would-be-expenses: $37 (these are the expenses I would normally do, but decided not to – I am proud of these 🙂 They may be small, but you know what I plan to do with them? Make a mortgage pre-payment!)

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*Pantry/freezer treasures enjoyed: I have been consistently using the food in my freezer and pantry in the last few weeks 🙂 This week I have enjoyed the followings: canned bean, canned soup, cracked wheat, dry red kidney beans, dehydrated pepper and eggplant from the pantry and frozen carrots and frozen chicken soup from the freezer! Yaaaay!! 🙂

*I am noting this because a while ago I decided that I needed to use the food I stocked up in my pantry as well as the freezer (this will hopefully help with my savings as well as limiting my food waste). By recording this activity here I hope to keep doing so.

 

Happy budgeting and happy savings 🙂

weekly budget check

Yay! The second week on minimal spending plan has been a success 🙂

————————

expenses related to weekly allowance: $38.25

funds left from weekly allowance (re; fun funds): $81.8

total fun funds accumulated to this day: -$44.5 (it is still on the negative side, but it is getting closer to $0 at least. Considering that just 2 months ago I had -$300 in this funds says a lot, does it not?… I hope to make it positive till new year and hopefully really use these funds for something I can really enjoy 🙂 )

other expenses: $203. This included a set of plates I ordered (I love them; the set I have has been with me for 15 years. It was time to retire it. I am not sorry for this expense; rather I am pretty much delighted…) and an expensive dinner I had had with my friends last weekend.

———

This “minimal spending” plan aims to limit my weekly allowance expenses (transportation, grocery, weekend breakfast etc.) till the holidays season so that I can save  funds to use during shopping during the holidays 🙂

As part of this plan, I walked everywhere this past week and saved my transportation funds. The number of days this week in which I did not spend any money was 4. I also am trying to consume what I already have, so my grocery expenses are pretty less than before and I had no breakfast-related expense this week. While I have lots of food and each week also buy fresh produce, I am not sure how long I can keep going like this (I am especially fond of my breakfast at the weekends), but I am making a great progress towards saving for my shopping plans 🙂

weekly budget check

As today is the end of my weekly budget, here is the account of the last 7 days:

I over-spent my weekly allowance with $26; $25 of this is a donation in a fund-raising event, which was a pleasure to contribute to. On the other hand, one of my major and unnecessary expenses is still continuing – I really would like to focus on it this week and the coming weeks.

I also have dined out with a friend; this expense is under the “extra” expenses; I still have room in this category. I guess it is okay to occasionally socialize, but I should admit I am not happy with the huge dining-out bills – when did eating become so expensive?

On the positive side, I saved quite a bit from the “would-be-expenses” this week; a total of $223. I guess that is an awesome amount! The majority of the expenses not done and thus saved are made possible by taking the bus rather than the cab, store grocery discounts, some expenses I was tempted to but did not, and some work I have done around the house (I pay myself for my efforts to maintain my house- I could easily give this money to someone else. That is cool 🙂 ).

I am overall satisfied with the situation. It has been a struggle at the beginning and time to time after that, but more or less I keep trying to stick to the plan. And I think it is awesome that I am generally very good about the “would-be-expenses”, too 🙂 Considering that prior to establishing my budget a few months back, I would have made these expenses….. talking about dumping money to garbage…

Now I must tackle one last unnecessary expense, and after that feel hugely accomplished 🙂

all the best

random thougths

I have made some financial goals lately – for two months I will restrict some extra expenses and see how it will go. If I can save some money, then I am planning to invest it in my RRSP (retirement investment plan).

I did some calculations. At first I thought the savings, for example, by not buying books for two months did not generate a substantial amount of savings. It discouraged me – why should I stop doing one thing I absolutely love (I like being in the bookstores and buying books slightly more than reading them.)? I decided not to cut it out.

But then, there were other expenses, bigger or small, which added up to a nice sum in two months. Just two months. This time period is good because I know that it is not forever and I will be able to continue my regular spending pattern after that. So being financially-conscious for two months does not bother me at all. I found this very interesting, very motivational, and very essential (psychologically) for success of my plan.

I am not sure I will be able to stick to this plan and whether I will transfer the savings into my retirement plan, as I would like to. But it is certainly worth trying it.

One other thing I noticed (which excites me very much) is that when I decided to shop twice a week rather than once a week, and buy food in smaller quantities each time, I actually have a better appreciation for food. Especially the fresh produce, which I would not find time to eat/cook until they get bad. I am committed to not waste food. That makes me happy.

It is interesting that while we try new approaches, attitudes, etc., we get to notice many things about ourselves and our relationship with things in our lives.

I love trying and then learning along the way. Life is good 🙂

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