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January 2016 Budget: Recap

This was a good start to the year for me. I didn’t hit my budget (as you can see below), but that was mostly due to an unplanned charitable donation, as well as getting a piece of artwork framed.

January was our first full month living together in our little house, and I couldn’t be happier. The place is cozy, and we are in love with this neighbourhood. It’s also nice getting into a morning routine, establishing chores, and figuring out how we can best live together.

I’ve also almost been at my job for 3 months, and it’s been really good so far. It’s a big step up in terms of responsibility, and since I’m naturally introverted, it’s really challenging me to reach outside of my comfort zone. I think that’s why I like marketing in this particular industry – I’m doing a lot less designing and writing, and focusing more on the skills I think I can improve on, as well as the ones that I’m strongest in.

Anyway here is my budget recap for January:

01-January2016-Recap

Over Budget

  • Food – We have been going to the local farmer’s market, where produce is quite a bit more expensive than our local grocery store. But the budget buster this month was my love of kombucha. I just need to get a grip, or perhaps start brewing my own.
  • Household – Some of you might have seen on Instagram that I finally got a piece of art that I bought in Morocco professionally framed. Yep I could have done it myself, but because the canvas needed to be stretched and it wasn’t put under glass, I figured I’d better leave it to a professional.
  • ClothingI have a $500 budget for clothing and shoes this year, and I’ve already spent $110 of it. :) But to be fair, I bought a pair of colder weather shoes that I’ve been wanting for walking around the city. Before those shoes, I either had hiking boots or rain boots.
  • Miscellaneous – A dear friend in Australia will be shaving her head in order to raise money for cancer research in March, so I wanted to support her. I don’t donate money to specific charities each year – but do make sure to donate to causes my friends are supporting whenever I can. If you’d like to help her out, check out her donation page!

Income & Savings

This month I grossed over $9,400 from a combination of my full-time job and freelance work, and was able to save 54.8% of that amount.

I’ve also signed contracts for about $11,000 in additional freelance income that I’ll be invoicing out by April, which is abnormal for sure. But I’ll take it, since I’m sure the summer months will be a lot quieter. :)

January Goals

  • Run once per weekFAIL. Although, we run for about 30 min. before each field hockey practice, so that’s gotta count for something, right? :) I’ll try this running thing again once the season is over.
  • Transfer all my banking over to Tangerine. CHECK! I have moved all my daily banking over to Tangerine, and it feels really good.
  • Pack my lunch 4x/week & no take-out coffee (unless social). CHECK! I think I did really well packing my lunch, and I didn’t get take-out coffee at all this month. I need to be better at keeping snack food at my desk though, because I did notice I was going to the grocery store a couple times per week to pick up an afternoon snack.
  • Be a good roommate. CHECK! This month I learned that RD keeps a much cleaner house than me. Each week, he mopped the floors, scrubbed the counters, cleaned the bathroom – and I contributed by not getting in his way. He said he doesn’t mind cleaning, and since I really dislike it, we jointly decided that he’ll be the one to keep the house clean. :) My chores include day-to-day tidiness, like making the bed, taking out the trash/recycling, keeping the refrigerator and pantry organized, and doing the laundry.

February 2016 Budget

February is going to be a fun month. :)

First for the blog – this month marks 9 years of blogging at GMBMFB. NINE YEARS! That seems insane. I’ll be doing a really cool giveaway later this month, so please watch out for it.

In other news, we finally committed to joining a rock climbing gym, but we are only signing up for a 1-month membership ($95) for now. If we decide to commit to a longer membership period, we could see this cost drop down to $60/month. A drop-in session is $18 and a 10-visit pass is $16 per session, so it was a no-brainer to opt for the membership since we’ll be going at least 2x/week.

We are also headed back to Victoria for the long weekend. It’s my family’s Chinese New Year celebration, and I’m excited for a nice dinner out, as well as a few brunch dates set up with my island friends.

Entertainment expenses are also a bit high this month because we are going to the Elliott Brood concert. I also bumped up my food budget by $25 to accommodate for rising food prices, and my kombucha obsession. It’s gotten so bad that I’ve considered starting to brew my own at home.

02-February2016-Budget

February 2016 Goals:

  • Find alternative parking – I gave my notice at my parking stall (I have to pay for one more month after this, unless they can find another renter faster), and am going to try to find a different (free) option for parking near my work. $60/month is a steal in Vancouver, but I think I can find a better solution. And once I do? An extra $60 will be going into my savings account every month!
  • Save $2,000 in my retirement portfolio – my normal contributions are $1,350/month, but since I’m passed my probation, that will rise to $1,500/month due to my employer contribution (and an extra $1,000 per year in company stock). So that leaves me with an additional $500 I will need to come up with for this goal.
  • Declutter my closet – I recently purged my clothes in December when we moved, but I feel the need to do it again. There are items that I just don’t wear at all, and I want to get rid of them because they’re taking up space and slowing me down when it comes to dressing in the mornings. :)
  • Cook one new recipe a week – we have been obsessed with the Oh She Glows cookbook but at the rate we’re going, we’ll run out of recipes. :) I’d like to try the Thug Kitchen cookbook, because I’ve heard nothing but good things about it!

January 2016 Goals

I’m really excited for 2016. I already feel a lot more organized in terms of my finances as well as my life in general. I’ve been able to go on regular runs, pack my lunch, and track my expenses daily. This is already a major improvement from the last couple of months.

This budget below represents a normal month of spending for me going forward – with the exception of the Fitness category – RD and I are determined to take a belay refresher course as well as buy a punch card to a local climbing gym. We already have climbing shoes, harness, and accessories, so no need to buy anything else. I’m really excited to start climbing again!

In an effort to curb our Food & Entertainment budget, we have decided to only go out to eat together once per week (unless we have social obligations, which are rare). When we first started dating, we were in restaurants at least 2-3 times per week. It was out of control, and not great for our waistlines. Now that we have our own space, it’s a lot easier and more pleasant to plan and cook meals at home.

If I can stick to this budget below, I’ll be able to save about 50% of my net income from my full-time job in January.

01 - January Budget

January 2016 Goals:

  • Run once per week. I know that I can’t fully commit to running during field hockey season, but I’ve been running during the winter break, and have been loving it.
  • Transfer all my banking over to Tangerine. I’ve been using a two-bank system for years and it has worked out well. However, PC Financial recently redesigned their website and I don’t want to sound like a design snob, but I can’t handle the interface. So everything is being moved over, and I need to coordinate my direct deposits, auto debits, and all other accounts that have previously been linked to my PFC accounts.
  • Pack my lunch 4x/week & no take-out coffee (unless social). For a while I got into the habit of grabbing a drip coffee from the cafe across the street from my office. But I can make coffee at home, and my new office provides it for free, so there’s no excuse. All lunch options around here are pretty pricey, so it’s bagged lunches for me most of the time. :)
  • Be a good roommate. It’s been a while since I’ve lived with someone else, so it will take time for me to adjust and compromise. But I’m going to work hard at it this month, since I know RD is a lot tidier than me.
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