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.

OVERALL SPENDING
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

TOTAL EXPENSES: $42,364

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Pre-mortgage payment:

TOTAL: $7,500

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INVESTMENTS

TFSA+RRSP: $15,711

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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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a relatively great day

Today I realized how rich and abundant I was when I was on my frugal life style. I certainly missed that feeling and I asked myself what was keeping me away from that life style again?

Myself. My need to comfort myself at the face of work-related stress. So I take the cab everywhere (rather than taking the bus or walking) and eat junk/comfort foods. This gotta stop, right?

Right.

Now that I am in a more relaxed period of time, I would like to give it a shot again. I would like to take the bus in the morning and start walking in the evening back to home again. I do not need to buy anything except a few cleaning products, and I have tons of food to consume at home.

I was not able to make mortgage pre-payments for the past several months. My plan is to make around 2K before the new year.

I know that I have been struggling to re-implement frugality for some time, but I am motivated to give it a hand again….

Wish me luck!

 

weekly budget check

I have not posted these checks for a while.

Now that I am making a serious attempt back to my frugal life-style, here comes this week’s account:

Weekly allowance expenses: $119, including grocery, cab fare, treats at the office, and junk food. My weekly allowance this year is 100 bucks/week, so I over-spent this week.

Fun funds: The fun funds so far are at the negative side: -$596.

Fun funds are those that are left from my weekly allowance starting each new year. Last year I had used the fun funds for things that my heart wished for and a pre-payment. This year I am looking forward to bringing this to a positive balance, but I am not sure how fast this can happen πŸ™‚Β 

Other savings: $7

Health related expenses and donations: $23.5

I am hopeful that next week will be a much better one, if I can continue with my frugal and simple life saga.

I have done something nice and made a pre-payment order today. I likely will need to tap into my chequing account really deep for this payment…. Normally, I like to have a healthy level of funds at the chequing account, but this payment will drop it significantly. I thought unless I challenge myself like this, I would not have enough motivation to save more and limit extra expenses. So, the weeks ahead will be somehow challenging andΒ  interesting.

I am up for it!

I hope there will be no additional expenses in the next few weeks πŸ™‚

back to my frugal self this week

Seems like I have had enough of the over-spending spree that has been happening since July.

Except one, all my deadlines are met, a large volume of work is done, and I completed two over-seas business trips.Β My stress levels are low (knock on the wood) and I am feeling like having a simple and frugal/resourceful life is easy now πŸ™‚

Accordingly, this week my spending was way below my weekly allowance. A first in the last 3 months….. I am proud and very excited about this πŸ™‚

Cannot wait to feel the joy coming out of frugal life and collecting all the savings that I will use for my advantage, such as having mortgage pre-payments πŸ™‚

 

Weekly budget check

Another #leanspending week πŸ™‚

This was a week with the least amount of grocery expenses; I had fresh produce left from the week before, which I decided to consume before I bought new ones. It was a good decision; I wasted neither the produce nor the money πŸ™‚ I also cashed loyalty card points, which dropped my grocery bill this week (don’t you love them?).

This being said, I have had a social that costed me a little bit. I am not complaining about this, knowing that it happens only rarely and I usually enjoy the food.

And, the most exciting part? The pre-payment I made to my mortgage! This week I made the biggest pre-payments ever; a total of $1,662.5. Almost all of this is my tax return. I am so excited and proud of myself…..

This is my 4th pre-payment done so far. I started in the new year; my motto is that whatever extra I get (from coupons, waivers, tax return, tempting expenses that are not done etc.) will be used as pre-payment. Before I know, they accumulate.

Anyways, here is the week’s account:

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Weekly allowance: $120

Expenses related to the weekly allowance (grocery, breakfast, and a cab drive in the snow storm day): $37

Fun funds saved this week: $120 – $37 = $73

Fun funds expenses: $0

Total fun funds accumulated so far in 2017: $757.5 (Yahooo !!!! πŸ™‚ )

Other expenses: $178 (health-related and social expenses, in addition to shopping for personal care and cleaning products at a store)

Savings from would-be-expenses: $27.5(these are the savings from expenses that I would normally make, but decided not to; such as walking rather than taking the bus, having breakfast at home rather than at the local cafe etc.).

Maybe a small amount, but a penny saved is a penny earned, right? πŸ™‚

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Pantry/freezer treasures enjoyed: soup (x2) and brown lentil meal from the freezer; bulghur (x2), canned bean, and pasta from the pantry πŸ™‚

Honestly, I am very excited about consuming the food that I already have. Since I started prioritizing the food in my freezer and the pantry in the last few months, I have consumed quite a bit of it. This helps me not only with saving money but also with an opportunity to refresh them. Like, last week I shopped for dry food (beans, lentils, seeds, rolled oats etc.) with great joy (oh, the joy of shopping cannot be under-estimated!). I have great and diverse food that can be enough for a couple of months and I am feeling incredibly abundant and grateful! πŸ™‚

Happy saving! πŸ™‚

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