I want to start out by saying that I finally went and opened a Mutual Fund account for my RRSP savings with CIBC. I was going to do it with PC Financial, but since PC is owned by CIBC, they only hold CIBC's Mutual Fund products. Not that there's anything wrong with that.
I started out with a monthly contribution of only $25 per month, until I get a better handle on the budget. I am, however, planning on transferring all the funds held in the PC Financial savings account to the mutual fund. Then the savings account will be used to 'hold' additional monies saved for the RRSP, and transferred over once a certain amount is reached, or at a particular time (like when net asset value per share is down).
Kudos to me for not applying for a Visa while in the bank, although they did ask. I explained that I wanted to have about six more months of 'better credit payments' to my credit report BEFORE I go about applying for any more credit. Although I don't want another credit card at all, I would like to have one that will be used only for business expenses, making tracking easier. If I were to get it, it would only be used if I could pay the balance immediately, so that I am not incurring any interest charges.
Planned spending - renamed and switched account
Xmas Fund - $48.68 (up $30)
Emergency fund - renamed to EEE Account $65.37
RRSP - $1178.41 (up $125)
General Savings - $47.41
Can. Saving Bond - $455.00 (down $1260)
$100 paid to Personal Loan
$180.00 paid to CC with 28% int. rate
$150 paid to CC with 0% int. rate
$204.04 paid to Auto Loan
HBC card - $447.93
We paid a total of $2146.32 toward our debt this month.
Our current total Debt owing: $21,299.23.
Total Debt owed on January 1, 2010: $23,861.01
Obviously I'm not including all of our debts on these recaps, but suffice it to say, we are making some headway! (That's why the numbers don't add up.)
Overall, it was a good month, but I would have liked to manage things without using savings. I guess that's what it's there for, but I still don't have to like it.
How was your first month of the New Year overall?