Wednesday, August 31, 2011

Month End Report, August 2011

TFSA/ EEE Account $436.84 (up $100)
Xmas Fund/Car Fund $1603.62 (up $50)
RRSP Savings Acct. $82.11 ( up $25)
Vacations Account $45.85 (up $25)
RRSP MF Acct. $1,708.59 (down $50.33)
RESP MF Acct. $1347.64 (down $16.46)
Emergency Fund Account $1000.40 (up $347.69)
House Fund $120.02 (up $25.01)
Biz Savings/5 Categories $2420.14 (down $5321.94)
Canada Savings Bonds $1465.00 (up $140.00)
B's Savings Acct. $243.51 (up $18.50)
$5 Bill Laptop Fund $25.00 (up $25) New Fund

Personal Loan: $5815.50, down $80.00
MBNA Card (27.98%): $1,481.37, down $166.38
Capital One Card (19.8%): $3074.08, down $141.00
Overdraft 1: $909.44, up $463.04
Auto Loan: $ 102.79, down  $202.47
Tax Owing: $3182.53, down $408.88

Our current total Debt owing: $14,565.71

Total Debt owed January 1, 2011: $23,861.01
Difference since January 1, 2011: $  9,295.30
Difference since last month: $ 535.69

So this is where the money is at for the end of the month. I didn't wait until the 31st for the measly interest payments on our savings accounts. I'll just add it all up next month.

Good things:
~ Still adding to the EEE account, and seeing all the same numbers add up over time for the savings/planned spending accounts
~ Having $1000 in the Emergency Fund
~ Starting the Laptop Fund with $5 Bills

The Bad:
~ Mutual Funds accounts going down, despite still adding money to them
~ Chipping away at Personal Loan, CC's, and Tax Amount owing

The Ugly:
~ Despite my best efforts, I cannot get Hubby to NOT use his overdraft...suggestions anyone?
~ Using money from Business Savings Account that had little to do with business; probably to the tune of $1500
~ Our Rent Account has been essentially depleted now, and will have to start paying rent out of cash flow starting in October (exactly what I didn't want to have happen)

Our Net Worth is back in the negative, which is no surprise. Insurances have to be paid by the end of September again, and we will be scrambling to figure it all out. Dear God, what have we done??

Oh yeah....overspent.

(Please be nice with the comments. I'm already beating myself up huge over this month's report.)


  1. Don't beat yourself up! The first part of the report was pretty awesome! Not sure what to say about the overdraft situation. Sounds like you will have to approach the situation firmly, but with love.

  2. You did great this month and paid down over $500 debt so pat yourselves on the back!!!
    In order to prevent Hubby using the overdraft could he track what it is exactly that he pays for with overdraft, like is it gas for a vehicle, or is it lunches at work, or is it new clothes or shoes, or whatever. Once you both understand what the gap in the budget is, perhaps provide him with a $200-300 mad money fund each month to cover that gap.

    that's how we dealt with getting hubby to stop using his credit card - we figured out what he was using it for, and created a jar specifically for that expense alone.

  3. Well I hate to say it but if he can't keep using, get ride of it!!! I don't have over draft and its one of the best things I ever did for myself was to say no!

  4. September is a new month! ;) As for overdraft, I'd threaten him with certain death.. and like the others said, you can get rid of it and be done with it. Good luck next month!

  5. I understand the over draft, my hubby doesn't overdraft much. We get an allowance every week, which isn't much since we want to get out of debt, but that is suppose to go to splurges, but my hubby will buy something then say he will use the next 3 weeks of allowance to pay for it. So we are working on that, which is so frusrating.

    I know if we hold budget meetings every week we do so much better.

    Good luck. And other than that you did great.

  6. I was gonna say, "has he seen the month end report?" maybe is he took a good long hard look and see what part is his the OD would stop....we got rid of OD too..sooooo many bad things about it...he might need more of an "allowance" to cover off for a bit but if he sees everything in black and white it might help him take responsibility more and he will stop....OD is a very dirty word in our house! Good Luck!