year end finances – 2018

Today is the end of my fiscal year. Time to see where I spent my money and how I saved it.

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EXPENSES

Weekly regular/daily expenses (allowance for eligible expenses=$120/week)

  • grocery: $2,796
  • eating out (alone): $166
  • cab: $1,018 (ouch!)
  • junk/unnecessary expenses: $1,621 (ouch!)

when compared to last year, all of these expenses, except eating out, have increased significantly.

Other expenses

  • Expenses related to cleaning and other household and personal care products: $1,494
  • Clothes: $620
  • Socialization-hosting-clothes-health-care-hair cut/dye-gifts-donations-hobbies=$5,268 (around $1,800 is hosting/socials-related expenses)

it looks like this year my social-life related expenses have increased compared to last year.

  • Europe vacation: $1,500

My total expenses not including mortgage, bills, bus fare, house tax,  insurance and other fixed expenses=around $15,000.

Looks like too much for a single person?

SAVINGS, INVESTMENTS, and OTHER GOOD NEWS

Retirement investments and HBP payment:

  • TFSA+RRSP+HBP (home buyer’s plan payment)=$19,000.  I feel good about these 🙂

Fun funds

  • fun funds (aka remaining funds from weekly allowance): $639
  • fun funds expenses: $270 (anything I wish as extra was an eligible expense)
  • remaining fun funds: $369 (yay! 🙂 )

Mortgage pre-payments=$7,790 (my tax return as well as weekly savings). This was the first year that I have made pre-payments to mortgage. It is amazing to see how little savings can make such a huge difference. I am not sure how much I have saved from the interests, but anything helps really.

Some of the savings this year were because of discounts, coupons, loyalty points, and other lucky encounters. For example, by just following the sales I saved more than $1,100 this past year. I am not into coupons and that shows; only $24 was gained by using coupons. Loyalty points were useful with around $200 worth of discounts. Every bits counts.

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Overall: I have done well and increased my net worth quite a bit.

I could do better, but I will let it go. I have done what can be done.

My spending habits changed, but surprisingly I spent more on daily expenses and at socials. Something to think about.

Now, it is time to move on and plan for the next year. 

I cannot wait 🙂

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weekly budget check

I have not done these checks for some time. It was because I mostly over-spent since July, but I am almost back to my regular, frugal budget.

This week I over-spent my weekly allowance by $19.5. I have made silly choices and spent unnecessarily but I would love to stop doing this. Let me see what this week will bring 🙂

I made a pre-payment to my mortgage in the amount of ~$1,600 today and I am feeling fantastic about this! I think it reduced the interest by round $50-60 – what better feeling than this right now 🙂

I still have some fun funds left (around $800), which I hope to bring to around $1,000 till the end of the year. These funds will be useful in making yet another mortgage pre-payment. I was planning to make an additional pre-payment in the amount of $5,000 by the end of December, but I am not so sure anymore… I found myself shopping (to take advantage of the sales), I need a new hair treatment coming, and there is at least one hefty social that I must shoulder next month….. I should not lose my hope and keep working towards this goal of making pre-payment. I know that even if I can make half of it, it will be fantastic.

This is the beginning of a new financial week for me (starting tomorrow) and I know that once I set the tone frugal it will likely go frugal. My plan for this week is to be mostly using the food in my freezer and pantry. I have so much food! It is time that they are consumed. I expect this to keep my grocery expenses low this week. This will further motivate me to keep frugal 🙂

a proud moment

After almost 2 months of senseless spending and lack of frugality in my life, today I made a pre-payment for my mortgage (only $404, but better than nothing, is it not?). I saved this money by my humble daily savings in the last 2 months. I am feeling extremely happy, proud, and excited about this 🙂 

Sometimes planning is not good enough and one must take steps to move. This was an important step that I hope will help me come back to my frugal self.

I plan to pay another $6,600 till the end of December. This will mean that I will have paid an extra ~10K as pre-payment this year. Of course I still need to make these payments…. So before I get excited for no real reason, I must keep my eye on this prize and find the motivation that I so much needed to move even more forward 🙂

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! 🙂

random thoughts

What a boring weekend.

Sorry – I did not mean to rant and depress, but that is what it has been.

I spent the most of yesterday at home because of a snow storm. Argh… Then a couple of friends called and they said they had no power. I invited them over. I was very happy to be able to help my friends and cook for them with the food at home 🙂 Generally speaking I like being resourceful and helpful. Yet, honest  to goodness, the negativity around these people is incredibly annoying. I feel a lot better around positive people – this is a fact. There is nothing more boring and annoying than people who rant all the time and never seem to appreciate anyone. That is a also a fact.

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So while I felt good about myself, I felt negative about my friends. Do I sound like a hypocrite?

So be it! 🙂

And today was okay. I just felt suffocated at home and went out for a short time and got fresh air. It was very quiet and there was ice everywhere…. Walking was challenging, yet quite relaxing. I have even been to the book store close to my house. Interestingly I only spent maybe 5-10 min and left it without buying any book (when was the last time I left a book store without buying a book? hmmmm)….

On a funny side; I baked a 40% whole wheat flour and 60% rolled oat loaf and what others said was true – oat does not rise. I have a brick-like bread to consume, possibly as croutons. Yay! 🙂

I also sewed a little bit yesterday and today. I realized it is stressing me, not relaxing… This needs to be reversed. I am trying to sew a piece of clothe for my mom and I want it to be great, and also enjoy doing it. I have some mental work to do and I better allow room for mistakes and be okay with messing with fabric and projects… At least for some more time….

Considering how boring today and yesterday was and how annoying my friends were, I questioned once again what the hey I was doing here, rather than being with my family? This is a billion dollar question……It should worth for me to be staying here; emotionally, financially, personally, professionally, health-wise, somehow……. I came to this question time to time, though it has been a while that I have had it last time…. Boy, I must be really bored and mad! I hope not to see those people again for some time.

Anyways; Friday was good friends- I have got my taxes done! I have gone there scared and thinking that I had forgotten to take my cheque book and I hope they could accept VISA or debit for the tax I owe to the government, and came back home just happy. I have got a return! I wanted to celebrate this, but for some reason I did not feel like eating out that days. Maybe some other time 🙂

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What do I want to do with my tax return? A new mortgage pre-payment 🙂 🙂 🙂

That sure makes me feel blessed and happy 🙂

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