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?
Monday, January 31, 2011
Weekly Spending Recap, Jan. 22- 28th, 2011
Sat. Jan. 22: $8.20-coffee & breakfast
Sun. Jan. 23: $11.00 - DD2 allowance; $3.63 - coffees
Mon. Jan. 24: $3.99 - margarine
Tues. Jan. 25: $25 - gas; $1.73 - coffee
Wed. Jan. 26: $26.21 - pizza
Thurs. Jan. 27: $1.73 - coffee; $35 - gas; $30 - tobacco
Fri. Jan. 28: $15.69 - snacks; $5.95 - coffees; $200 - savings; $40.26 - groceries; $354.21 - bills
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Tracking spending this week was difficult because I've been ill. What started out as some type of tummy virus has become a full on head & chest cold. The medication I've been taking has been making me feel a little scatter-brained, so I didn't write everything down right away. I did keep receipts and used my debit card so I could track when I was feeling better.
Tonight is our Gail meeting (the last one this month was postponed due to scheduling issues) and I am looking forward to sharing and hearing from the rest of the group what they hope to achieve for the year.
On Saturday, I bought Gail Vaz-Oxlade's newest book, "Never Too Late".
I spent a glorious day yesterday staying off the computer, and just spending my time reading, doing housework, and knitting. DH and I watched 2 movies last night as well. Today I'll be working on our month end financial report, so we get a better picture of where we are, and where we're headed. As soon as I can get off this computer, I'm going to go finish Gail's book!
Have a great week everyone!
Sun. Jan. 23: $11.00 - DD2 allowance; $3.63 - coffees
Mon. Jan. 24: $3.99 - margarine
Tues. Jan. 25: $25 - gas; $1.73 - coffee
Wed. Jan. 26: $26.21 - pizza
Thurs. Jan. 27: $1.73 - coffee; $35 - gas; $30 - tobacco
Fri. Jan. 28: $15.69 - snacks; $5.95 - coffees; $200 - savings; $40.26 - groceries; $354.21 - bills
--------------------------------------------------------------------------------------------------------
Tracking spending this week was difficult because I've been ill. What started out as some type of tummy virus has become a full on head & chest cold. The medication I've been taking has been making me feel a little scatter-brained, so I didn't write everything down right away. I did keep receipts and used my debit card so I could track when I was feeling better.
Tonight is our Gail meeting (the last one this month was postponed due to scheduling issues) and I am looking forward to sharing and hearing from the rest of the group what they hope to achieve for the year.
On Saturday, I bought Gail Vaz-Oxlade's newest book, "Never Too Late".
I spent a glorious day yesterday staying off the computer, and just spending my time reading, doing housework, and knitting. DH and I watched 2 movies last night as well. Today I'll be working on our month end financial report, so we get a better picture of where we are, and where we're headed. As soon as I can get off this computer, I'm going to go finish Gail's book!
Have a great week everyone!
Friday, January 28, 2011
Payday
I went to my business post office box yesterday and was pleasantly surprised to see not one, not two, but three cheques inside. I smiled and thought, Yay!
Then reality set in. There is so much to do with this money, and I couldn't possibly accomplish it all with only this amount. I grab my pen and paper, and get down to brass tacks with budgeting for this money.
What I'd like to do with this money:
The amount of the cheques isn't enough to cover everything if I take 20% off the top for savings. The savings is non-negotiable.
Looks like sushi is out, as is putting some aside for the cc payment. The oil change will have to wait as well.
I'll pay Rogers and the Cellphone, buy new tires, divide savings into 4 different categories/accounts, and if there is any left over, I'll stock up on the great deal that No Frills has on t.p. this week.
Looking it over as if it were someone else's decision, here's what I see.
Savings is priority number one.
Keeping current with monthly bills is the next priority.
What about the tires? Is that a need or a want? (The tires have been put off long enough. It's becoming an issue of safety now.)
What categories are the savings going into? ($100 - RRSP, $30 - EEE Account, $40 - RESP, $30 - Xmas fund)
If my calculations are correct on the cost of tires, after I've set aside various savings, and paid the bills I mentioned, I'll have about $23.00 left to buy t.p. and veggies. Ha, ha, ha!
I would like to see a debt payment in there as well, but I would have to get behind in the bills or compromise my savings. Hmm.
What do you think? What does this way of dividing my pay tell you about my priorities?
Then reality set in. There is so much to do with this money, and I couldn't possibly accomplish it all with only this amount. I grab my pen and paper, and get down to brass tacks with budgeting for this money.
What I'd like to do with this money:
- buy new tires for the van and get an oil change
- stock up on some household items that are on sale this week
- take hubby out for sushi dinner
- put some into my RRSP and Emergency fund
- set some aside for an upcoming cc payment
- Rogers all-in-one bill
- Business Cellphone bill
The amount of the cheques isn't enough to cover everything if I take 20% off the top for savings. The savings is non-negotiable.
Looks like sushi is out, as is putting some aside for the cc payment. The oil change will have to wait as well.
I'll pay Rogers and the Cellphone, buy new tires, divide savings into 4 different categories/accounts, and if there is any left over, I'll stock up on the great deal that No Frills has on t.p. this week.
Looking it over as if it were someone else's decision, here's what I see.
Savings is priority number one.
Keeping current with monthly bills is the next priority.
What about the tires? Is that a need or a want? (The tires have been put off long enough. It's becoming an issue of safety now.)
What categories are the savings going into? ($100 - RRSP, $30 - EEE Account, $40 - RESP, $30 - Xmas fund)
If my calculations are correct on the cost of tires, after I've set aside various savings, and paid the bills I mentioned, I'll have about $23.00 left to buy t.p. and veggies. Ha, ha, ha!
I would like to see a debt payment in there as well, but I would have to get behind in the bills or compromise my savings. Hmm.
What do you think? What does this way of dividing my pay tell you about my priorities?
Wednesday, January 26, 2011
Yesterday, my little boy, who will be 3 in March, came running out of his room announcing, "broken cracks". This means his beloved wooden train track table, which he got for Christmas had pieces that came apart.
He came to me, and grabbed my hand, as he always does, and said, "Fix, Fwease, Mommy".
We walked down the hallway together, with his little hand in mine. It was warm and soft.
I wanted to find a pause button, just so I could stand there and hold his hand for awhile. I wanted to revel in the wonderful little person that he is becoming. I wanted to ruffle his beautiful blond hair, and admire how perfect he is, for just a moment.
He pulled me into the bedroom repeating, broken cracks, broken cracks.
It took me all of 2.4 seconds to fix the problem. He turned to me, and gave me one of those beautiful smiles. You know the ones, the kind that melt your heart. "Kankoo Mommy", he said.
No, I thought. Kankoo, Bug-less, for letting me be your Mommy. For giving me a reason to smile each and every day. For being you.
His medical condition is one that is life threatening. But as he gets older, the risks associated with it begin to slowly decline. I couldn't imagine him not in my life. His MCAD could take him away from us, but not without a fight.
Our daily fight to keep him means him never going more than 3 hours without food to sustain him. It means never letting him go more than 10 hours overnight without food. It means watching for the signs of illness and lowered blood sugar constantly. He has an intolerance for the heat and humidity of summer in the region in which we live. We try to limit his exposure to illness and germs, while letting him just be a kid. We give him medication three times a day. We are vigilant when he isn't feeling well. We go to Emerg with him, if he has diarrhea and vomiting. We fight with medical staff to get him what he needs when he needs to be in hospital.
And now we have to fight again. With his specialist.
They say they are still learning about his condition, and all that it entails.
We say we won't let our son be the guinea pig. I don't accept what they are saying. And I will fight it.
I wish that he was never born with this condition. I wish he was just a normal kid. But one found mutated gene tells us differently. But just because they can't find the second one, doesn't mean it isn't there.
Will everything in this child's life be a fight for us?
I hope not, because I only have so much fight in me.
He came to me, and grabbed my hand, as he always does, and said, "Fix, Fwease, Mommy".
We walked down the hallway together, with his little hand in mine. It was warm and soft.
I wanted to find a pause button, just so I could stand there and hold his hand for awhile. I wanted to revel in the wonderful little person that he is becoming. I wanted to ruffle his beautiful blond hair, and admire how perfect he is, for just a moment.
He pulled me into the bedroom repeating, broken cracks, broken cracks.
It took me all of 2.4 seconds to fix the problem. He turned to me, and gave me one of those beautiful smiles. You know the ones, the kind that melt your heart. "Kankoo Mommy", he said.
No, I thought. Kankoo, Bug-less, for letting me be your Mommy. For giving me a reason to smile each and every day. For being you.
His medical condition is one that is life threatening. But as he gets older, the risks associated with it begin to slowly decline. I couldn't imagine him not in my life. His MCAD could take him away from us, but not without a fight.
Our daily fight to keep him means him never going more than 3 hours without food to sustain him. It means never letting him go more than 10 hours overnight without food. It means watching for the signs of illness and lowered blood sugar constantly. He has an intolerance for the heat and humidity of summer in the region in which we live. We try to limit his exposure to illness and germs, while letting him just be a kid. We give him medication three times a day. We are vigilant when he isn't feeling well. We go to Emerg with him, if he has diarrhea and vomiting. We fight with medical staff to get him what he needs when he needs to be in hospital.
And now we have to fight again. With his specialist.
They say they are still learning about his condition, and all that it entails.
We say we won't let our son be the guinea pig. I don't accept what they are saying. And I will fight it.
I wish that he was never born with this condition. I wish he was just a normal kid. But one found mutated gene tells us differently. But just because they can't find the second one, doesn't mean it isn't there.
Will everything in this child's life be a fight for us?
I hope not, because I only have so much fight in me.
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