Give Me Back My Five Bucks

June 2017 Goals: Recap

Okay, June’s expenses weren’t as bad as I thought they would be, BUT I made a few errors when developing my budget back in May because I had no idea what our mortgage payments would look like, and for some reason I put July’s rent into the budget. Whoops. Obviously we didn’t have to pay for July’s rent, and the way our mortgage payments work, we don’t actually make our first payment until July.

Speaking of our mortgage, after running the numbers with RD, we decided we’ll be increasing our accelerated bi-weekly payments by 20% and going from there. It’s an easy way to bring our mortgage down by a few years, and it doesn’t really affect our overall budget. Or at least it doesn’t seem to. We can re-adjust the amount later if we find it’s impacting our other goals.

Overall, our move went smoothly. We spend an entire weekend shuttling boxes back and forth between our house and the condo, so when the movers actually came, all they had to move was our big furniture. We also spent about 3 days painting – it was a lot harder than I thought it would be, but the place looks much better.

This month we also spent a weekend in Seattle with my family. It’s always a really fun trip, but with the exchange rate being what it was, it came out to be more expensive than we thought. I had also budgeted that we’d book the rest of our Portugal accommodation this month, but we ended up being way too busy, so that will just have to wait until July!

Freelancing went well this month and it was also a 3-pay cheque month. So because my cash flow this month puts me in a decent spot, I took on a bit more of the household expenses. We went to an antique store and found a beautiful teak dining room hutch (I’m going to use it as a pantry). It was originally $1,700 but we got it on discount for $570, so I’m pretty excited. I hadn’t anticipated buying furniture until July, so it wasn’t accounted for in the June budget, but the sale was too good to pass up. :) We’ll be going to IKEA this weekend to pick up a few more things.

Anyway, here is how I did this month with my budget:

Over Budget

  • Property Tax – we pre-paid for our property tax for the year when we closed on our condo.
  • Groceries – because we weren’t cooking at home that often, I ended up going out for lunch way more often. I tried going to more inexpensive places, but I still went over budget by a lot.
  • Household – as mentioned above, I bought an amazing pantry hutch for the house (it’s getting delivered next weekend). We also bought some stuff from the dollar store, got keys cut, bought cleaning supplies, and other small miscellaneous expenses.
  • Clothing – when we were in Seattle, I bought 2 pairs of jeans that were on sale. I also got a pair of Birkenstock sandals repaired, and bought a t-shirt at a concert I went to.
  • Personal Care – bought some miscellaneous toiletries at Target in Seattle.

Income and Savings

I brought in about $575 in freelance income this month, but still have about $7,500 pending. I thought I’d get some of it paid out in June, but looks like it’ll be more like July. :)

My savings rate this month was at 53.1%, and my average for the year is 54.5% – so right on target.

 

Author: Krystal Yee

I’m a personal finance blogger and marketing professional based in Vancouver. I’m a former Toronto Star (Moneyville) columnist, author of The Beginner’s Guide to Saving and Investing, and co-founder of the Canadian Personal Finance Conference. When I’m not working, you can usually find me running, climbing, playing field hockey, or plotting my next adventure.


Comments

  1. Wow congrats on finishing the move! I know it’s a lot of work and could be stressful, but I’m glad you guys are settling down in the new place.

    Your pending freelance income looks amazing! Don’t be too hard on yourself on the food expenses. It is difficult to cook when you’re in the middle of the move. You can always resume saving on food next months. =)

  2. Charles says:

    Impressive savings rate. Mine is about 30%. I save 15% on 401k and am currently putting the rest away for an emergency fund and general savings.

  3. KC says:

    I’ve moved several times and no matter how I save up for closing fees, etc, I’m always amazed at how much these things cost!

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