This is going to be an interesting month. I’m hoping to keep my expenses low as I get settled into my new job.
I’ve also accounted for an increase to my mortgage payments, as well as car expenses (insurance and gas). I checked out the cost of a bus pass ($124 for 2 zones), but it’s just not worth it. For the same amount of money, I could drive and shorten my commute by 90 minutes each day. Maybe there’s a car pool at work, or better options that I haven’t thought of yet. But until then, I’ll be commuting by car. Now that I’m thinking about car expenses, it’s probably about time I get some car insurance quotes to make sure I’m getting the best deal for my money.
Other than that, this budget will likely be a work in progress over the next few months until I can find a good balance.
January 2013 Goals:
- Run 50km outdoors. I’ve been running mainly in the gym, but I’m looking to return to outdoor running now that I’m back in Vancouver and have a park across the street from me.
- Increase my mortgage payments. While in Germany, I reduced my mortgage payments down to the minimum. Now that I’m back, I’d like to increase it to what it used to be – accelerated bi-weekly, with an extra 20%. That works out to an extra $222 each month.
- Get back on track with my Retirement Portfolio. I need to increase my savings rate, so I’ll be creating a plan over the next month or so. Right now I’m thinking of contributing $700 or $800 per month, divided between my TFSA and RRSP accounts.
- Start contributing monthly to a charity. Self-explanatory!