Sunday, July 31, 2011

Month End Report - July 2011

TFSA/ EEE Account $336.84 (up $50.60)
Xmas Fund $1553.62 (down $96.40)
RRSP Savings Acct. $57.11 ( up $25.04)
Vacations Account $20.85 (down $729.21)
RRSP MF Acct. $1,758.92 (down $7.87)
RESP MF Acct. $1364.10 (up $176.17)
Emergency Fund Acct. $652.71 (up $361.61)
House Fund $95.01 (up $32.01)
Biz Savings/5 Categories $7,742.08 (down $3872.93)
Canada Savings Bonds $1325.00 (up $140.00)
B's Savings Acct. $225.01 (up $70.01)

HBC Card (28.8%): Overpaid, credit of $31.00
Personal Loan: $5895.50, down $160.00
MBNA Card (27.98%): $1,647.75, down $157.03
Capital One Card (19.8%): $3215.08, down $54.46
Overdraft 1: $446.40, up $69.41
Auto Loan: $ 305.26, down $251.10
Tax Owing: $3591.41, down $470.35

Our current total Debt owing: $15,101.40

Total Debt owed January 1, 2011: $23,861.01
Difference since January 1, 2011:   $ 8,759.61
Difference since last month: $ 1,023.53

Our Net Worth this month is only a mere $29.85, but we could effectively be out of debt if we were to deplete all of our savings, which of course we are not willing to do.

The vacations account is down so much, because I have taken the money out of the account for our trip to the cottage. We will need to buy some food and drinks, so that will come from this money. We also have to pay for the cottage rental in cash the day we arrive, so I want to be sure I have the cash available.

The business account took a couple of big hits with paying off the amount owing for Small Claims Court settlement, as well as some spending. However, we are back on track for putting money back into this account to take care of future obligations.

The Xmas/Car fund account looks a little weird. I put money in to start saving for the lawyer retainer, then changed my mind about how I would deal with it. So I took the money back out. Then I put money in to start saving up for a newer vehicle. It's going to take some time to save up enough, but at least we have started.

As for the credit cards...well, at least we haven't used them. With the postal strike, and the weird cycle that both cards are on, it looks like we didn't make much headway even though we paid $200 on each card last month. Interest charges are another culprit, I'm sure.

I should probably add another column to our debt, even though it's only a debt to ourselves. We 'borrowed' $4000 from our rent account to pay the lawyer's retainer fee for my divorce application. But that will come after that emergency Fund Account gets back up to $1000. We're almost there.

How did you do with your finances this month? Is everything going according to plan?


  1. The good thing is that your net worth is a positive number! Congrats on that!!!

  2. This month was the first month of our first budget, so we didn't do any major saving, but hoping to rectify that in August!! :)