I didn't do this last month because I was in such a depression over our finances. It hasn't been, nor still is pretty, but we are slowly figuring it out. Here are the numbers.
TFSA/ EEE Account $41.71 (down $418.83)
Xmas Fund/Car Fund $50.02 (down $1553.70)
RRSP Savings Acct. $160.07 ( up $52.88)
Vacations Account $4.01 (down $44.64)
RRSP MF Acct. $1,757.93 (up $70.18)
RESP MF Acct. $1,529.47 (up $157.72)
Emergency Fund Account $24.51 (up $15.57)
House Fund $10.04 (up $5.01)
Biz Savings/5 Categories $50.90 (down $78.17)
Canada Savings Bonds $1,745.00 (up $140.00)
B's Savings Acct. $19.69 (down $39.41)
$5 Bill Laptop Fund $0 postponing this for now
Personal Loan: $6,120.50, up $465.00
MBNA Card (27.98%): $1,063.16, down $150.57
Capital One Card (19.8%): $2,809.19, down $138.96
CIBC Visa (19.99%): $346.70, new account
Overdraft 1: $621.32,down $27.26
Overdraft 2: $396.99, up $396.99
Tax Owing: $9,692.82, up $6,501.56 (correct as of Nov.21st)
Our current total Debt owing: $21,050.68
Total Debt owed January 1, 2011: $23,861.01
Difference since January 1, 2011: $ 2,810.33
Difference since last report: + $ 7,393.46
YIKES!
That is a huge difference in only 60 days, but we knew it was coming. The reality is, in the past I have not been setting money aside for tax obligations, and now it is catching up with me. I have incurred more debt by means of a new credit card (to start rebuilding my credit), using my overdraft again (I know, not good at all), and reborrowing from the 'personal loan'. All the work we have done to pay down and off our debt has come to a screaching halt. It looks as though all we have paid off in 11 months is a mere $2,800. But we are determined now more than ever, to see this thing through.
In the last 60 days, I have cut back on the household spending, cancelled services, stopped pre-authorised withdrawals for RRSP & RESP (until our cashflow can handle it again), and reduced the daycare expense. In the coming week, I will try to reduce our cellphone bill (again) and pledge to put something into each of the savings pots.
Our expenses for December far outweigh our income, so we will absolutely do our best to pay what we can and make a gameplan for 2012. We are considering RRSP catch up loans. I will talk more about that in an upcoming post.
So that's it in a nutshell. It isn't pretty, but it's all ours. ;)
Showing posts with label month end report. Show all posts
Showing posts with label month end report. Show all posts
Thursday, December 1, 2011
Sunday, October 2, 2011
Month End Report - September
Let's review:
September goals:
OK, so I didn't accomplish much this month or so it would seem. I did pay the contents insurance on our apartment for the year, and I did get the dreaded Income Tax filed (finally). I so dislike doing that. Of course, the result wasn't favourable, which is probably why I dislike doing it so much. Everything seems to be on hold until I can get a grip on the finances. Paying out an additional $600 per month for childcare is something that is hard to get used to. If I don't start getting more work soon, I may have to pull him from daycare.
Ok, on to the Month end report:
TFSA/ EEE Account $460.54 (up $23.70)
Xmas Fund/Car Fund $1603.72 (up $0.10)
RRSP Savings Acct. $107.19 ( up $25.08)
Vacations Account $48.65 (up $2.80)
RRSP MF Acct. $1,687.75 (down $20.84)
RESP MF Acct. $1371.75 (down $24.11)
Emergency Fund Account $8.94 (down $991.46)
House Fund $5.03 (down $114.99)
Biz Savings/5 Categories $129.07 (down $2291.07)
Canada Savings Bonds $1605.00 (up $140.00)
B's Savings Acct. $59.10 (down $184.41)
$5 Bill Laptop Fund $60 (up $35.00)
Personal Loan: $5655.50, down $160.00
MBNA Card (27.98%): $1,213.73, down $267.64
Capital One Card (19.8%): $2948.15, down $125.93
Overdraft 1: $648.58,down $260.86
Auto Loan: $ 0
Tax Owing: $3191.26, up $8.73 (correct as of Sept. 19th)
Our current total Debt owing: $13,657.22
Total Debt owed January 1, 2011: $23,861.01
Difference since January 1, 2011: $ 10,203.79
Difference since last month: $ 908.49
The auto loan was paid off, finally. I got my credit card balance under $3k, and hubby's credit card balance is approaching 3 digits instead of four.It is going to be a rough few months for us if I can't get more money coming in. Hopefully, October will be a good month income-wise.
September goals:
- $75 for the pager; this will pay up the account until June 1/12 No
- Continue making small-ish deposits to Emergency fund, EEE Account, House fund, Vacation fund, car fund, and laptop fund. Sort of.
- Start 2 new funds for Business Equipment and Dental Work. No
- Our Insurances are coming due. Pay off #1 & #2. 1 of 2 paid
- Catch up with all paperwork for business. o_O Halfway accomplished.
OK, so I didn't accomplish much this month or so it would seem. I did pay the contents insurance on our apartment for the year, and I did get the dreaded Income Tax filed (finally). I so dislike doing that. Of course, the result wasn't favourable, which is probably why I dislike doing it so much. Everything seems to be on hold until I can get a grip on the finances. Paying out an additional $600 per month for childcare is something that is hard to get used to. If I don't start getting more work soon, I may have to pull him from daycare.
Ok, on to the Month end report:
TFSA/ EEE Account $460.54 (up $23.70)
Xmas Fund/Car Fund $1603.72 (up $0.10)
RRSP Savings Acct. $107.19 ( up $25.08)
Vacations Account $48.65 (up $2.80)
RRSP MF Acct. $1,687.75 (down $20.84)
RESP MF Acct. $1371.75 (down $24.11)
Emergency Fund Account $8.94 (down $991.46)
House Fund $5.03 (down $114.99)
Biz Savings/5 Categories $129.07 (down $2291.07)
Canada Savings Bonds $1605.00 (up $140.00)
B's Savings Acct. $59.10 (down $184.41)
$5 Bill Laptop Fund $60 (up $35.00)
Personal Loan: $5655.50, down $160.00
MBNA Card (27.98%): $1,213.73, down $267.64
Capital One Card (19.8%): $2948.15, down $125.93
Overdraft 1: $648.58,down $260.86
Auto Loan: $ 0
Tax Owing: $3191.26, up $8.73 (correct as of Sept. 19th)
Our current total Debt owing: $13,657.22
Total Debt owed January 1, 2011: $23,861.01
Difference since January 1, 2011: $ 10,203.79
Difference since last month: $ 908.49
The auto loan was paid off, finally. I got my credit card balance under $3k, and hubby's credit card balance is approaching 3 digits instead of four.It is going to be a rough few months for us if I can't get more money coming in. Hopefully, October will be a good month income-wise.
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
-----------------------------------------------------------------------------------------------------
Notes:
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.)
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
-----------------------------------------------------------------------------------------------------
Notes:
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.)
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?
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?
Thursday, June 30, 2011
June Month End Report, Part 2
I have so much to say about this month end report, I decided to do it in a separate post.
First....d'you see the difference in our debt from last month?? Almost $8,000!! Now, this is not going to be a monthly occurrence, or anything like that. But it was a good month! I like to think of it as my blizzard month, instead of just a few snowflakes, lol.
Can I get a cheer please? We paid off three, count 'em, three, debts since last report, and one small claims court settlement. All to the tune of about $9,000.00. Holy smokes! I can tell you that certainly has eased the pressure off our cash flow and allowed us to juggle some payments so that we can get our snowball effect started.
On my Financial Goals Page, we have made progress on nearly every single line. All that is left to start working on are the 'wish list' type items. A buffer in the bank account and vacations. Items that we will start working on once we have made significant progress on the Emergency Fund and the EEE Account. Our Debts Paid In Full page has been filling up which makes us very happy!
And how are we going to celebrate our successes from this past month? We're going to a house party for Canada Day and buying a barbecue. Grocery shopping is going to be fun this month!
As always, your comments are appreciated.
First....d'you see the difference in our debt from last month?? Almost $8,000!! Now, this is not going to be a monthly occurrence, or anything like that. But it was a good month! I like to think of it as my blizzard month, instead of just a few snowflakes, lol.
Can I get a cheer please? We paid off three, count 'em, three, debts since last report, and one small claims court settlement. All to the tune of about $9,000.00. Holy smokes! I can tell you that certainly has eased the pressure off our cash flow and allowed us to juggle some payments so that we can get our snowball effect started.
$18,994.22 vs. $16,124.93
This month end report also marks an important milestone for us with our finances. As of this month, we have more money in assets (various savings and planned spending accounts) than we have debt. Technically, we could use all of our available money and pay this debt off once and for all. Of course that would leave us in a very precarious position, because we would have nothing to fall back on to pay for the upcoming bills that will be due in a few months time. We could probably do it, but I'm just not comfortable with it. So for now, it's enough just to know that we could do it.On my Financial Goals Page, we have made progress on nearly every single line. All that is left to start working on are the 'wish list' type items. A buffer in the bank account and vacations. Items that we will start working on once we have made significant progress on the Emergency Fund and the EEE Account. Our Debts Paid In Full page has been filling up which makes us very happy!
And how are we going to celebrate our successes from this past month? We're going to a house party for Canada Day and buying a barbecue. Grocery shopping is going to be fun this month!
As always, your comments are appreciated.
Month End Report - June 2011
TFSA/ EEE Account $286.24 (up $286.05)
Xmas Fund $1650.02 (up $1574.29)
RRSP Savings Acct. $32.07 ( up $5.00)
Vacations Account $750.06 (up $250.02)
RRSP MF Acct. $1,766.79 (down $13.64)
RESP MF Acct. $1187.93 (up $37.50)
Emergency Fund Acct. $291.10 (up $200.01)
House Fund $75.00 (up $30.00)
Biz Savings/5 Categories $11,615.01 (up $1785.06)
Canada Savings Bonds $1185.00 (up $240.00)
B's Savings Acct. $155.00 (up $100.00)
HBC Card (28.8%): Overpaid, credit of $31.00
Personal Loan: $6055.50, down $240.00
MBNA Card (27.98%): $1,804.78, down $156.59
Capital One Card (19.8%): $3269.54, down $721.13
Overdraft 1: $376.99, up $534.43
Auto Loan: $ 556.36, down $199.46
Tax Owing: $4,061.76, down $370.35
Biz HST: $0
Dental Bill: $0
Our current total Debt owing: $16,124.93
Total Debt owed January 1, 2011: $23,861.01
Difference since January 1, 2011: $ 7,736.08
Difference since last month: $ 7,770.78
Xmas Fund $1650.02 (up $1574.29)
RRSP Savings Acct. $32.07 ( up $5.00)
Vacations Account $750.06 (up $250.02)
RRSP MF Acct. $1,766.79 (down $13.64)
RESP MF Acct. $1187.93 (up $37.50)
Emergency Fund Acct. $291.10 (up $200.01)
House Fund $75.00 (up $30.00)
Biz Savings/5 Categories $11,615.01 (up $1785.06)
Canada Savings Bonds $1185.00 (up $240.00)
B's Savings Acct. $155.00 (up $100.00)
HBC Card (28.8%): Overpaid, credit of $31.00
Personal Loan: $6055.50, down $240.00
MBNA Card (27.98%): $1,804.78, down $156.59
Capital One Card (19.8%): $3269.54, down $721.13
Overdraft 1: $376.99, up $534.43
Auto Loan: $ 556.36, down $199.46
Tax Owing: $4,061.76, down $370.35
Biz HST: $0
Dental Bill: $0
Our current total Debt owing: $16,124.93
Total Debt owed January 1, 2011: $23,861.01
Difference since January 1, 2011: $ 7,736.08
Difference since last month: $ 7,770.78
Tuesday, May 31, 2011
Month End Report - May
TFSA/ EEE Account $0.19 (down $144.00)
Xmas Fund $75.73 (down $29.00)
RRSP Savings Acct. $27.07 ( up $0.05)
Vacations Account $500.04 (up $450.00)
RRSP MF Acct. $1,780.43 (up $524.66)
RESP MF Acct. $1150.43 (up $1125.43)
Emergency Fund Acct. $91.09 (up $20.00)
House Fund $45.00 (same)
Biz Savings/5 Categories $9829.95 (up $9826.37)
Canada Savings Bonds $945.00 (up $70.00)
B's Savings Acct. $55.00 (up $42.11)
HBC Card (28.8%): $178.49, down $83.59
Personal Loan: $6295.50, down $80.00
MBNA Card (27.98%): $1,961.37, down $31.44
Capital One Card (19.8%): $3990.67, down $105.89
Overdraft 1: $911.42, down by $32.77
Auto Loan: $ 755.82, down $247.97
Tax Owing: $4,432.11, up $96.29
Biz HST: $4,825.05 (cheque sent)
Dental Bill: $1,301.10
Total Debt owed on January 1, 2011: $23,861.01
Our current total Debt owing: $23,895.71
Difference since January 1, 2011: + $34.70
Difference since last month: down $1,951.97
I didn't make the Biz HST owing a zero just yet, as I only sent the cheque off yesterday. I will change it on next month's report after the cheque has cleared. We had to dip into savings this month, so I've a plan to repay those funds, but am waiting for funds to clear the account first.I had hoped to have the Xmas account up to par with my savings plan by the end of the month, but it looks like it will be a few more days.
At the end of April, our total savings was $2610.63.
At the end of May, our total savings is $ 14,499.93.
I'll post our goals for June in tomorrow's post.
Have a great day everyone!
Xmas Fund $75.73 (down $29.00)
RRSP Savings Acct. $27.07 ( up $0.05)
Vacations Account $500.04 (up $450.00)
RRSP MF Acct. $1,780.43 (up $524.66)
RESP MF Acct. $1150.43 (up $1125.43)
Emergency Fund Acct. $91.09 (up $20.00)
House Fund $45.00 (same)
Biz Savings/5 Categories $9829.95 (up $9826.37)
Canada Savings Bonds $945.00 (up $70.00)
B's Savings Acct. $55.00 (up $42.11)
HBC Card (28.8%): $178.49, down $83.59
Personal Loan: $6295.50, down $80.00
MBNA Card (27.98%): $1,961.37, down $31.44
Capital One Card (19.8%): $3990.67, down $105.89
Overdraft 1: $911.42, down by $32.77
Auto Loan: $ 755.82, down $247.97
Tax Owing: $4,432.11, up $96.29
Biz HST: $4,825.05 (cheque sent)
Dental Bill: $1,301.10
Total Debt owed on January 1, 2011: $23,861.01
Our current total Debt owing: $23,895.71
Difference since January 1, 2011: + $34.70
Difference since last month: down $1,951.97
I didn't make the Biz HST owing a zero just yet, as I only sent the cheque off yesterday. I will change it on next month's report after the cheque has cleared. We had to dip into savings this month, so I've a plan to repay those funds, but am waiting for funds to clear the account first.I had hoped to have the Xmas account up to par with my savings plan by the end of the month, but it looks like it will be a few more days.
At the end of April, our total savings was $2610.63.
At the end of May, our total savings is $ 14,499.93.
I'll post our goals for June in tomorrow's post.
Have a great day everyone!
Saturday, April 30, 2011
Month End Report - April
Here's how the numbers sit as of April 30, 2011:
TFSA/ EEE Account $144.19 (up $55.23)
Xmas Fund $104.73 (up $70.03)
RRSP Savings Acct. $27.02 ( up $17.02)
Vacations Account $50.04 (up $40.01)
RRSP MF Acct. $1,255.67 (up $44.84)
RESP MF Acct. $25.00 (up $25)
Emergency Fund Acct. $71.09 (down $20.00)
House Fund $45.00 (up $5.00)
Biz Savings/5 Categories $0 (down $225.00)
Canada Savings Bonds $875.00 (up $140.00)
B's Savings Acct. $12.89 (down $72.32)
HBC Card (28.8%): $262.08, down $144.78
Personal Loan: $6375.50, down $160.00
MBNA Card (27.98%): $1,992.81, down $124.33
Capital One Card (19.8%): $4,096.56, down $22.68
Overdraft 1: $944.19, increased by $145.52
Auto Loan: $1,003.69, down $195.54
Tax Owing: $4,335.82, down $50.00
Biz HST: $4,839.00
Dental Bill: $1,301.10
Overdraft 2: $0, decreased by $380.80
Total Debt owed on January 1, 2011: $23,861.01
Our current total Debt owing: $25,150.75
Difference since January 1, 2011: + $1,986.67
Our debt has gone up since January? We've paid lots and lots of money, and yet we still incur more debt without trying. It feels like this will never end. How discouraging! Either I'm really bad at math, or I wasn't counting something in earlier, or we're just stuck in this hell called debt for all time.
This month end report does not make me feel any better!
Please leave encouraging comments below!
TFSA/ EEE Account $144.19 (up $55.23)
Xmas Fund $104.73 (up $70.03)
RRSP Savings Acct. $27.02 ( up $17.02)
Vacations Account $50.04 (up $40.01)
RRSP MF Acct. $1,255.67 (up $44.84)
RESP MF Acct. $25.00 (up $25)
Emergency Fund Acct. $71.09 (down $20.00)
House Fund $45.00 (up $5.00)
Biz Savings/5 Categories $0 (down $225.00)
Canada Savings Bonds $875.00 (up $140.00)
B's Savings Acct. $12.89 (down $72.32)
HBC Card (28.8%): $262.08, down $144.78
Personal Loan: $6375.50, down $160.00
MBNA Card (27.98%): $1,992.81, down $124.33
Capital One Card (19.8%): $4,096.56, down $22.68
Overdraft 1: $944.19, increased by $145.52
Auto Loan: $1,003.69, down $195.54
Tax Owing: $4,335.82, down $50.00
Biz HST: $4,839.00
Dental Bill: $1,301.10
Overdraft 2: $0, decreased by $380.80
Total Debt owed on January 1, 2011: $23,861.01
Our current total Debt owing: $25,150.75
Difference since January 1, 2011: + $1,986.67
Our debt has gone up since January? We've paid lots and lots of money, and yet we still incur more debt without trying. It feels like this will never end. How discouraging! Either I'm really bad at math, or I wasn't counting something in earlier, or we're just stuck in this hell called debt for all time.
This month end report does not make me feel any better!
Please leave encouraging comments below!
Wednesday, March 30, 2011
March Month End Report
Here's how the numbers sit as of February 28, 2011:
TFSA $88.96 (up $1.00)
Xmas Fund $34.70 (same)
RRSP Savings Acct. $10.00 ( up $5.00)
EEE Account $10.03 (down $45.00)
RRSP MF Acct. $1,210.83 (up $3.02)
RESP MF Acct. $0 New Account
Emergency Fund Acct. $91.09 (up $60.00)
House Fund $40.00 (up $15.00)
Biz Savings/5 Categories $225.00 (up $126.02)
Canada Savings Bonds $735.00 (up $140.00)
B's Savings Acct. $85.21 (up $31.05)
HBC Card (28.8%): $406.86, down $34.24
Personal Loan: $6445.00, down $160.00
MBNA Card (27.98%): $2,117.14, down $151.47
Capital One Card (19.8%): $4,119.24, down $72.04
Overdraft 1: $799.39, increased by $299.39
Auto Loan: $1,199.23, down $194.97
Tax Owing: $4,385.82, down $250.00
Biz HST: $4,839.00
Dental Bill: $1,301.10
Overdraft 2: $380.80, decreased by $88.24
Total Debt owed on January 1, 2011: $23,861.01
Our current total Debt owing: $21,874.34
Difference since January 1, 2011: $1,986.67
Good things this month:
TFSA $88.96 (up $1.00)
Xmas Fund $34.70 (same)
RRSP Savings Acct. $10.00 ( up $5.00)
EEE Account $10.03 (down $45.00)
RRSP MF Acct. $1,210.83 (up $3.02)
RESP MF Acct. $0 New Account
Emergency Fund Acct. $91.09 (up $60.00)
House Fund $40.00 (up $15.00)
Biz Savings/5 Categories $225.00 (up $126.02)
Canada Savings Bonds $735.00 (up $140.00)
B's Savings Acct. $85.21 (up $31.05)
HBC Card (28.8%): $406.86, down $34.24
Personal Loan: $6445.00, down $160.00
MBNA Card (27.98%): $2,117.14, down $151.47
Capital One Card (19.8%): $4,119.24, down $72.04
Overdraft 1: $799.39, increased by $299.39
Auto Loan: $1,199.23, down $194.97
Tax Owing: $4,385.82, down $250.00
Biz HST: $4,839.00
Dental Bill: $1,301.10
Overdraft 2: $380.80, decreased by $88.24
Total Debt owed on January 1, 2011: $23,861.01
Our current total Debt owing: $21,874.34
Difference since January 1, 2011: $1,986.67
Good things this month:
- I got a bank account and RESP Mutual fund account opened in Cub's name
- In a month that is historically bad for income, I brought in over $3000
- I have $1100 of outstanding invoices that should be paid next month
- Knowing that I have to pay off $4800 of debt in the next 110 days
- Still paying off credit card debt that I incurred over 3 years ago
- Needing work done on my van that is going to cost me in the $3000 range
Friday, March 4, 2011
February 2011 Monthly Report
Here's how the numbers sit as of February 28, 2011:
TFSA/RESP Acct. $87.96 (up $16.18)
Xmas Fund - $34.70 (down $13.98)
RRSP Savings Acct. $5.00 ( up $5.00)
EEE Account $55.03 (down $10.34)
RRSP MF Acct. $1,213.85 (up $35.44)
Emergency Fund Acct. $31.09 (up $31.09)
House Fund $25.00 (up $25.00)
Biz Savings/5 Categories $98.98 (up $98.98)
Canada Savings Bonds $595.00 (up $140.00)
B's Savings Acct. $54.16 (up $6.75)
HBC Card (28.8%): $441.10, down $6.83
Personal Loan: $6605.00, down $22.00
MBNA Card (27.98%): $2,268.64, down $127.34
Capital One Card (19.8%): $4,191.28, up $38.41
Overdraft 1: $500
Auto Loan: $1,394.20, down $193.63
Tax Owing: $4,635.82
Biz HST: unknown, approx. $4,700.00
Dental Bill: $1,301.10
Overdraft 2: $469.04, up $69.04
Total Debt owed on January 1, 2011: $23,861.01
Our current total Debt owing: $21,909.32
Difference since January 1, 2011: $1,951.69
We had a total, utter and complete budgeting fail in February.
I'm not really sure where we went wrong, but I know a lot of it had to do with bank teller doing the opposite of what was requested, resulting in an amount of $75 being taken from my account and deposited into B's account. It set off a string of events that ended up costing me over $80 in fees already in March.
In other news, Capital One has decided to start charging interest on my credit card account again. No letter or anything, just magically it was there. Good thing I saw it on the statement! Now I can plan through it as well.
March is already looking to be a spectacular month, as I have already earned additional income this month, and it's only the 4th! I'm hoping to pick up more work this month, and hopefully be able to really feel like I've finally got the financial ball rolling on our goals. It feels like things have been stagnant (due to the way I get paid for my major contract), and I'd like it to feel like I'm going forward.
Have a great day folks!
TFSA/RESP Acct. $87.96 (up $16.18)
Xmas Fund - $34.70 (down $13.98)
RRSP Savings Acct. $5.00 ( up $5.00)
EEE Account $55.03 (down $10.34)
RRSP MF Acct. $1,213.85 (up $35.44)
Emergency Fund Acct. $31.09 (up $31.09)
House Fund $25.00 (up $25.00)
Biz Savings/5 Categories $98.98 (up $98.98)
Canada Savings Bonds $595.00 (up $140.00)
B's Savings Acct. $54.16 (up $6.75)
HBC Card (28.8%): $441.10, down $6.83
Personal Loan: $6605.00, down $22.00
MBNA Card (27.98%): $2,268.64, down $127.34
Capital One Card (19.8%): $4,191.28, up $38.41
Overdraft 1: $500
Auto Loan: $1,394.20, down $193.63
Tax Owing: $4,635.82
Biz HST: unknown, approx. $4,700.00
Dental Bill: $1,301.10
Overdraft 2: $469.04, up $69.04
Total Debt owed on January 1, 2011: $23,861.01
Our current total Debt owing: $21,909.32
Difference since January 1, 2011: $1,951.69
We had a total, utter and complete budgeting fail in February.
I'm not really sure where we went wrong, but I know a lot of it had to do with bank teller doing the opposite of what was requested, resulting in an amount of $75 being taken from my account and deposited into B's account. It set off a string of events that ended up costing me over $80 in fees already in March.
In other news, Capital One has decided to start charging interest on my credit card account again. No letter or anything, just magically it was there. Good thing I saw it on the statement! Now I can plan through it as well.
March is already looking to be a spectacular month, as I have already earned additional income this month, and it's only the 4th! I'm hoping to pick up more work this month, and hopefully be able to really feel like I've finally got the financial ball rolling on our goals. It feels like things have been stagnant (due to the way I get paid for my major contract), and I'd like it to feel like I'm going forward.
Have a great day folks!
Monday, January 31, 2011
Month End Report, January 2011
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?
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?
Saturday, January 1, 2011
End of December Report
Here are our December numbers:
Planned spending - $35.36 (same)
Xmas Fund - $18.68 (same?)
Emergency fund - down $349.05
RRSP - added $1.34 (Interest only)
General Savings - up $14.47
Can. Saving Bond - up $210.00
$150 paid to Personal Loan
$118.97 paid to CC with 28% int. rate
$150 paid to CC with 0% int. rate
$238.55 paid to Auto Loan
Used $425.00 of credit from HBC card with 28.8% int. rate
We put a total of $226.01 into our various saving pots this month.
We paid a total of $2233.92 toward our debt this month.
Total Debt Difference from Last Month: $ 2204.94
Our current total Debt owing: $22,121.52
Total Debt owed on January 1, 2010: $23,861.01
Total Debt payments made in 2010: $15,767.79
In hindsight, it seems like we're just spinning our wheels, not really paying down the debt, since the difference in total amount from start to finish of the year is only $1739.49. But we have paid off almost $16,000 of debt that accumulated over the year. I don't know where these numbers really come from, but somehow we got more debt. I know some of it was from increased Income Tax owing, money loaned to us through a personal loan early on in the year, usage of one store card (boo!) and increased interest costs. But the number went down! It wasn't as big of a decrease as I would have liked to see, but at least it didn't increase. =)
I would have to say that overall, I'm pleased with what we've accomplished over the last year. As I look forward to 2011, I plan to accomplish so much more. I'm eager to start my journey for the year and hope that you all will follow along reading about my adventures.
P.S. Today is the day that my family has for generations spent the day making doughnuts and cookies for when friends and family drop by to visit. Although I should have been baking since early this morning, I've decided to wait until my girls are home to help. This is one tradition they love, as they get to eat not so nutritional food all day long, with no nagging from Mom. and I'd like to think they enjoy spending time in the kitchen with me too.
Have a great New Years Day.
Planned spending - $35.36 (same)
Xmas Fund - $18.68 (same?)
Emergency fund - down $349.05
RRSP - added $1.34 (Interest only)
General Savings - up $14.47
Can. Saving Bond - up $210.00
$150 paid to Personal Loan
$118.97 paid to CC with 28% int. rate
$150 paid to CC with 0% int. rate
$238.55 paid to Auto Loan
Used $425.00 of credit from HBC card with 28.8% int. rate
We put a total of $226.01 into our various saving pots this month.
We paid a total of $2233.92 toward our debt this month.
Total Debt Difference from Last Month: $ 2204.94
Our current total Debt owing: $22,121.52
Total Debt owed on January 1, 2010: $23,861.01
Total Debt payments made in 2010: $15,767.79
In hindsight, it seems like we're just spinning our wheels, not really paying down the debt, since the difference in total amount from start to finish of the year is only $1739.49. But we have paid off almost $16,000 of debt that accumulated over the year. I don't know where these numbers really come from, but somehow we got more debt. I know some of it was from increased Income Tax owing, money loaned to us through a personal loan early on in the year, usage of one store card (boo!) and increased interest costs. But the number went down! It wasn't as big of a decrease as I would have liked to see, but at least it didn't increase. =)
I would have to say that overall, I'm pleased with what we've accomplished over the last year. As I look forward to 2011, I plan to accomplish so much more. I'm eager to start my journey for the year and hope that you all will follow along reading about my adventures.
P.S. Today is the day that my family has for generations spent the day making doughnuts and cookies for when friends and family drop by to visit. Although I should have been baking since early this morning, I've decided to wait until my girls are home to help. This is one tradition they love, as they get to eat not so nutritional food all day long, with no nagging from Mom. and I'd like to think they enjoy spending time in the kitchen with me too.
Have a great New Years Day.
Wednesday, September 29, 2010
End of September Update
I'm feeling pretty good about what we've acomplished this month. Even with my sporadic income, we managed to pay the bills, pay down the debt, and set some money aside. I still need to have a discussion with B about our BIG GOALS, how to best prioritize them, plan for them and then start implementing that plan.
Here are our September numbers:
Planned spending - added $91.75
Xmas Fund - added $220.83
Emergency fund - added $634.65
RRSP - added $449.59
General Savings - $20
Can. Saving Bond - added $175
$260 paid to Personal Loan
$200 paid to CC with 28% int. rate
$140 paid to CC with 0% int. rate
$255.05 paid to Auto Loan
$22.50 paid to HBC card with 28.8% int. rate
We put a total of $1591.82 into our various saving pots this month.
We paid a total of $877.55 toward our debt this month.
Of our ten original year end goals, two have been completed. We have more than $800 in our EEE fund, and we saved (and spent) $2000 for our summer vacation. I have to check back on the statements, but I'm fairly sure we have paid off more than $1000 of our $5600 credit card debt.
I'm about 50% complete on my RRSP goal, and over 50% complete for our XMAS account goal. These goals will be the main focus over the month of October.
Not yet completed/started:
$1000 buffer in chequing account.
$2000 in auto repair/replacement fund.
$3500 paid to lawyer.
Open savings accounts for the kids.
I added another goal for July of 2011: To have $2000 saved for 2 week cottage vacation in August, 2011.
Also added: To have $25,000 saved toward downpayment and other assorted costs of buying a house. Goal target date is April of 2015.
As for our goal of staying current with monthly bills, so far, so good. But we are heading into the leaner months so we will see how this plays out.
Here are our September numbers:
Planned spending - added $91.75
Xmas Fund - added $220.83
Emergency fund - added $634.65
RRSP - added $449.59
General Savings - $20
Can. Saving Bond - added $175
$260 paid to Personal Loan
$200 paid to CC with 28% int. rate
$140 paid to CC with 0% int. rate
$255.05 paid to Auto Loan
$22.50 paid to HBC card with 28.8% int. rate
We put a total of $1591.82 into our various saving pots this month.
We paid a total of $877.55 toward our debt this month.
Of our ten original year end goals, two have been completed. We have more than $800 in our EEE fund, and we saved (and spent) $2000 for our summer vacation. I have to check back on the statements, but I'm fairly sure we have paid off more than $1000 of our $5600 credit card debt.
I'm about 50% complete on my RRSP goal, and over 50% complete for our XMAS account goal. These goals will be the main focus over the month of October.
Not yet completed/started:
$1000 buffer in chequing account.
$2000 in auto repair/replacement fund.
$3500 paid to lawyer.
Open savings accounts for the kids.
I added another goal for July of 2011: To have $2000 saved for 2 week cottage vacation in August, 2011.
Also added: To have $25,000 saved toward downpayment and other assorted costs of buying a house. Goal target date is April of 2015.
As for our goal of staying current with monthly bills, so far, so good. But we are heading into the leaner months so we will see how this plays out.
Tuesday, August 31, 2010
End of August Update
The summer months are always good ones for us, financially and otherwise. Because of a large contract payment, I am able to catch up on a number of bills that may be lingering, and I have a year's worth of budgeting to do. In the past, there was no budgeting involved. We blew through the money in a couple of months, with nothing (or almost nothing) to show for it, and nothing saved. Thus, our crazy big debts. I crunched the numbers many times this year prior to payment and worked out a plan. It is working much better this way, and although it's not perfect, I do have several pots of money stashed.
Here are our August numbers:
Planned spending - added $50.00
Xmas Fund - added $284.97
Emergency fund - added $254.74
RRSP - added $405
General Savings - $20
$260 paid to Personal Loan
$265 paid to CC with 28% int. rate
$250 paid to CC with 0% int. rate
$204.04 to Auto Loan
I used the HBC card for a $50 purchase that will be paid off by the end of the billing cycle. Our rent, phone/cable/internet, cellphone and pager accounts are all current.
We took a $2500 vacation, had a $900 vehicle repair bill, and an unexpected $300 dental bill for DD1, all of which were paid for in cash.
We had to borrow from our other expenses like groceries and gas/auto amounts, and still have 20 days of our 'monthly cycle' left, but there is still some money in the household account to draw from. I'll just have to be extra diligent with that to see that we don't go over.
We put a total of $1014.71 into our various saving pots this month.
We paid a total of $979.04 toward our debt this month.
So far, we are on track for the year, although I've adjusted some of our yearly goals amounts.
Here are our August numbers:
Planned spending - added $50.00
Xmas Fund - added $284.97
Emergency fund - added $254.74
RRSP - added $405
General Savings - $20
$260 paid to Personal Loan
$265 paid to CC with 28% int. rate
$250 paid to CC with 0% int. rate
$204.04 to Auto Loan
I used the HBC card for a $50 purchase that will be paid off by the end of the billing cycle. Our rent, phone/cable/internet, cellphone and pager accounts are all current.
We took a $2500 vacation, had a $900 vehicle repair bill, and an unexpected $300 dental bill for DD1, all of which were paid for in cash.
We had to borrow from our other expenses like groceries and gas/auto amounts, and still have 20 days of our 'monthly cycle' left, but there is still some money in the household account to draw from. I'll just have to be extra diligent with that to see that we don't go over.
We put a total of $1014.71 into our various saving pots this month.
We paid a total of $979.04 toward our debt this month.
So far, we are on track for the year, although I've adjusted some of our yearly goals amounts.
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