weekly budget check

My new “lean” spending scheme is doing well 🙂

I have a tighter budget implemented in the last few weeks, not because I have to but because I was curious about how much more I could not spend.

I have been thinking for some time; how much more expenses, in reality, can be cut?

I am thinking; if it comes to it, I may cancel my internet and phone services, but I will not do that right now. I can cut out my hair or stop have it cut for sometime rather than going to a hair dresser, but I will not do that, either. I can focus more on growing my veggies at home during the winter and in my yard during the summer. I can forgo eating fresh produce and rather focus on whatever is cheap, but I will not do this. I can stop using electricity/power unless it is extremely required, but I will not do that, either.

You have got the idea.

It is usually possible to find areas to save more. I wanted to give this a try with a super-duper lean spending month, which I had originally scheduled for February. But I said to myself “what is the use of waiting”” and I started it a few days after the new year. It has been an interesting exercise so far. I basically only aim to make expenses which are necessary (such as bus fare and  food). But I also allow myself to have one item per week to pamper myself (like my peanut butter I enjoyed last week 🙂 ). And, my friends – it is working: I am spending much less than before. Not sure how long I can continue with such a tight budget, but knowing that I am capable of doing it is a great feeling 🙂

Here is the account for this past week under the duper lean spending month plan:

Weekly allowance: $120

Expenses related to the weekly allowance (grocery, breakfast/coffee at the cafe, cab rides- if ever, and other little miscellaneous expenses): $58

Fun funds saved this week: $120 – $58 = $62

Total fun funds accumulated so far in 2017: $322  (yay! 🙂 )

Other expenses: $0 (a miracle! 🙂 )

Savings from would-be-expenses: $44.5 (these are the expenses I would normally do, but decided not to – I am proud of these 🙂 )

*Pantry/freezer treasures enjoyed: soup and bread

*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.

———————–

So; not bad my friends 🙂

And I am very excited to state this that I have made my first mortgage pre-payment today using my saved dollars; it may be a small amount but it was a great start!

happy savings 🙂

 

 

 

weekly budget check

It has been a good week in terms of my own spending, yet I have incurred additional expenses (quite a bit) for a social that I hosted, personal grooming, and for the pest control company that is hopefully going to take care of the mice problem I currently have.

I am not sorry to have made these expenses as all of them are for good for me. I am grateful for having such a mentality towards money.

here is this weeks account:

expenses within the weekly allowance: $94

savings from expenses that I was tempted to but did not: $133.5

weekly fun funds savings: $120 (my total weekly allowance) – $94 (this week’s total expense): $26

total fun funds accumulated so far: $169

🙂

Since I am moving towards a “vacation” mentality, I feel like I will be doing less grocery shopping (small amounts and as needed only) and more gift shopping. And that is okay.

Have great savings everyone! 🙂

weekly budget check

Today is the end of my weekly budget and here is how I have done:

 

weekly allowance expenses (grocery, eating out, and transportation): $47

funds left from the allowance for the “fun funds” account: $120 – $47 = $73

total fun funds: $123

savings from the would-be-expenses (expenses I was tempted to do, but did not such as cab, or discounts I cathched up): $149

 

I did not spend a lot of money this week, mostly because I did not do grocery shopping. If you follow my blog, you know that lately I have not been cooking or eating well (even though now I am making effort to turn this around). This is not intentional and I am not trying to deprive myself. I hope to take better care of myself next week.

Overall, this budget works for me, I am okay with taking the bus (which saves me a lot of money), and I continue to spend much less than before.

I like the fact that I have a nice sum of funds in the fun funds category. Hey, I guess it is time to get a nice hair cut.

That is lovely 🙂

 

delayed weekly budget check

I have not posted about my weekly budget and saving saga in the last 3 weeks. I felt weird about monitoring my expenses and writing about money while grieving the loss of my dad. I decided today that it was okay.

Overall, I am doing okay even though there has been extra expenses. I had dental care, medication, and physiotherapy expenses within that time frame. All are for great causes and as such I am glad I did make these expenses. I also did spent more right after the death of my dad, mostly for eating out (I still do not cook much at home since then) and for books on death, grief, and grieving (that helped me to go thru the grief in more or less a rational way). Needless to say, I spent much of the “fun funds” I have accumulated since the new year. Again, I am not sorry for that. In contrast, I am glad that I have had these funds at my disposal, which made my life easier during this difficult time.

Despite these extra expenses, generally I am spending much less in my weekly allowance category; my grocery do not cost more than $60/week and I changed the cafe I eat in at the weekends, which further reduced my weekly expenses (plus, coffee is much better!). I took the cab only occasionally and am doing really well with taking the bus in the morning. As a whole, I do not see much of an interest to spend money and I am okay with that. I lack nothing and my financial health is improving.

It has been 10 weeks since I started this new budget (with $120 weekly allowance); so far I could handle is really well and seems like I can keep doing this. Since new year I also made extra contributions to my RRSP account and despite this amount, I am still increasing my chequeing account every two weeks and I do not expect a below $0 chequeing account hopefully for quite sometime.

Next week I have an appointment with my bank and I will increase my biweekly RRSP contributions by a small amount ($50). This is mostly because I am getting a little salary increase and the fact that the market is more or less down; I believe it is the best time to buy stocks. This extra contributions will help me to pay back my HBP (home buyers plan) payments earlier (I had withdrawn money from my RRSP account for my down payment). Whether I like it or not, HBP payments are debts, too, and paying it soon is good for me.

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