Well, I’m under budget this month so that’s the good news. :) The bad news is I had earmarked $350 for a potential flight to Edmonton for next month (which likely isn’t going to happen anymore), so if you take that into consideration, I’d be a little bit over budget.
I was well under my already low projected monthly food budget, but that’s because of a few factors: at the end of April we went on a huge Costco run (where my share was $130!) so we had all the essentials ready to go. All I needed to buy were fresh fruits and veggies for the month, which doesn’t cost a lot at all. We mostly shop at No Frills, where I can get away with spending $25-30 week if I’m cooking simple meals. And the other factor? We ate in restaurants a lot this month. It was fun to see so many people, but after the trip to Victoria, all I wanted to do was detox and get back to a regular routine of eating healthy.
Gas was also really low this month because I commuted to work mostly from BF’s house. Likely that will change throughout the summer as life gets busier with sports, friends, and outdoor activities. Plus, I really do miss staying at my house. I spend a lot each month to have it, so I want to be there a bit more often.
- Entertainment – there were a few meals out with friends that I hadn’t planned for, but I’m actually surprised that this number is so low.
- Fitness – I didn’t expect to buy a tennis racket and sign up for lessons this month. I’m glad that I did, because it seems like a really fun sport and a good way to stay in shape during the field hockey off-season. But yeah, it was somewhat impulsive.
Net Worth Change: – $2,955 ( – 2.98%)
Okay, wait. This drop isn’t as drastic as it seems. Or maybe it is. :) I updated the value of my car to reflect what Kelley Blue Book says it’s worth based on its current condition, sold privately. It’s not exactly the most accurate way of measuring a depreciating asset, but it’s what I’ve always done, so to be consistent, that’s how I’ll keep doing it.
Without the drop in net worth due to my car value, I would have actually been up + $1,336.
- Contribute $800 into my Retirement Portfolio. CHECK! My normal contribution amount is $750. The extra $50 went towards my TFSA.
- Earn $1,200 in freelance income. FAIL. I only brought in $460, but I have $1,100 worth of invoices that are owed to me. Some of them are severely overdue, so I’ve been following up.
- Review my budget. CHECK! I was able to reduce my monthly bills by $18/month. Not a lot, but it’s still something.
- Pay attention to my health. CHECK! I cut back on my intake of refined sugars and salty snacks (didn’t eat a single chip this month, which has to be a record for me). I also took a multivitamin most days, drank more water, and have been exercising a lot more. As a result, I dropped 4 pounds this month. :)
- Walk 100,000 steps per week. CHECK! My original FitBit goal was to walk an average of 10,000 steps per day, but after realizing the goal wasn’t challenging enough, I upped it to 100,000 steps per week. And I’m really happy to say that I surpassed that amount and walked 460,805 steps during May – and that doesn’t even include today or tomorrow’s step totals. :) This is due to being more active at work, walking a lot in the evenings, and starting to get back into running.
- Bring my lunch to work every day. PASS. I did bring my lunch a couple of times this month, but I’m giving myself a pass because the few days I did that, it was because we were coming back from a trip the night before, or something unexpected came up and it couldn’t really be helped.
- Stay on budget. PASS. Technically, I was $338.81 under budget for the month. But if I had bought that plane ticket to Edmonton, I would have been over budget by $10-15.
There you have it – my budget recap for May. Any comments or questions? :)
This is going to be my most social month in a really long time. Not only am I going home over the long weekend, but BF and I have planned commitments to attend (at least 4), and I’m going out with girlfriends an additional 4 times this month. It’s going to be a spendy month for sure, so I’m glad I’m planning ahead with this budget.
Along with an inflated Entertainment category, you will see that once again, my Travel spending is sky high. This is due to the weekend home, as well as purchasing a flight to Edmonton for June. I’ll be tagging along with BF and his family for an extended weekend. :) I have quite a few rewards points saved up with my Capital One Aspire World Travel MasterCard, so I might use those to pay for the flight… but the original plan was to keep saving up those points for our tentative trip to Europe in the fall. :)
May 2014 Goals:
- Contribute $800 into my Retirement Portfolio. My normal contribution amount is $750.
- Earn $1,200 in freelance income.
- Review my budget. I’ve been comfortable with my budget for the past few months, but I think there are certain categories where I might be able to reduce my spending.
- Pay attention to my health. This means doing the following every day: taking a multivitamin, drinking more water, and severely cutting back on my intake of refined sugars and salty snacks (chips are definitely out for this month).
10,000 steps per day100,000 steps per week. I’ll average this out over each week because even though I might not hit 10,000 steps on some work days, I can make up for it on the weekends.Yep, still loving my FitBit. (**note** After realizing I’m averaging well over 10,000 steps per day, I decided that this goal really wasn’t going to challenge me enough… so I upped it to an average of 100,000 steps per week – wish me luck!)
- Bring my lunch to work every day. This is going to be an extremely social (and expensive) month for me, so I’ll be dining out a lot in restaurants. Best to minimize expenses and extra calories by sticking to healthy, packed lunches during the week.
- Stay on budget. With so many things happening this month, I really need to get focused and stay on track with my spending.
I think I did quite well staying on budget this month. Even though I went over budget in some categories, I saved some major cash on gas because I’ve been staying with BF during the work week. This cuts my commute from 45-60 min. down to less than 10 min. :) This doesn’t happen all the time though, so I still need to be mindful of how much I budget on gas in the future.
As for travel, I’m surprised I stayed under budget. The original plan was to go to Victoria with BF, and we would share the cost of bringing my car across on the ferry. But he got sick at the last minute, and I ended up just bringing my car across anyway.
Other than that, all other expenses this month were normal.
- Food – I went to Costco and stoked up on staples like quinoa, bread, and some vitamins. We also discovered black bean pasta (my new favourite thing).
- Clothing – I bought a shirt from Value Village, as well as a pair of jeans because my favourite brand is discontinuing my favourites. :(
- Personal Care – Random stuff from London Drugs, like tooth paste, Q-tips, etc.
- Miscellaneous – This was my FitBit purchase!
Net Worth Change: + $1,448 (+ 1.48%)
I got back on track with my Retirement Portfolio contributions, and paid the regular amount to my mortgage. Nothing out of the ordinary here!
- Bring my lunch to work every day. PASS. I’m giving myself a pass for the month, because even though I technically did buy my lunch once this month, it was the day after we came back from Las Vegas, and we weren’t able to go grocery shopping.
- No coffee. FAIL. Okay, okay I had two coffees this month. But one was over the weekend when I was visiting a friend in Victoria. And the other one was when I went into work at 7am.
- Work out 3x/week. FAIL. I did go for my first run since injuring myself, and I’ve been walking a ton thanks to my FitBit. I also played 4 field hockey games… but that doesn’t equal what I would call 3 workouts per week.
- Earn $1,800 in freelance income. FAIL. I actually only brought in $932.70. I’ve invoiced out for an additional $650, but just haven’t gotten those cheques in yet.
- Get back on track with RRSP/TFSA contributions. CHECK! I’m back contributing $750/month into my Retirement Portfolio.