Friday, December 14, 2012

December Goals Update

  1. Add $279.50 to any one of my RRSP accounts. This will round up my contributions for the year to a full $1200. $195 / $279.50.
  2. Add $100 to the Emergency fund. Slow and steady wins the race. Done.
  3. Add $50 to the Emergency Essential Expenses Account. $5 added.
  4. Set aside $400 for the new van payment.
  5. Pay $200 toward Income Tax owing. $50 paid.
  6. Get $1000 RSP loan from bank. Applied, I think.?
  7. Open TFSA account at CIBC for accelerating van payments and adding to house down payment fund. Done.
  8. Get credit report and score so that I can do yearly update. Bank is getting this for me.
  9. Add DD2's account to my 'bill list' to do online transfers for her savings account. Done.
  10. Pay off $79  $231.76 owing on credit card by due date, Dec. 20/12. Paid $50.

I met with my rep at the bank this week to apply for the RRSP loan. I could just make a $1000 contribution, but I want to do it as a loan for a couple of reasons; the bank has a promotion going on that if you have three of the qualifing products, you get a reduction in bank fees across all your accounts - the only one I don't have already is a mortgage or loan, so I opted for the loan. Tax reduction is self-explanatory, and saving for retirement/home down payment are bonuses. :)

I also opened a TFSA account with CIBC so that I could set money aside as a buffer for the van payments. However, using my online banking, I am not easily able to transfer money to this account, so I will have to check to see how I am able to do that.

I'm only $84.50 away from my yearly RRSP contribution goal that I set for myself so long ago. I want to hit this goal in the worst way!

I'm adding to many of our savings accounts now while I am able to. There is already $100 in the account for Christmas 2013. The emergency fund has been added to. I've put money in both of the kids bank accounts. Money is set aside for upcoming auto maintenance and licencing. Vacation account has a little something to get that one started. I've increased the monthly contribution amount for the kids RESPs.

I also paid some bills before I went shopping. Oh shopping, how I love thee. But that's a whole post for a different day.


  1. You're doing great with your goals!! As for your TFSA you have to either call or go into the bank to deposit... it's kind of a pain..

  2. Not with ING - you can deposit to your TFSA online:) Nothing wrong with an RRSP loan - it's important to contribute the max or as close as your can every year! It's a win/win!

  3. Sounds like you are doing pretty good on your goals for the month. Your blog seems like a very informational and educational experience for anyone who takes the time to read it.

    I had a question about your blog but I couldn't find an email address where I could contact you. Do you mind getting back to me at

    Thanks again for your wonderful blog and I hope to hear back from you soon.

    Mike Postorino