Give Me Back My Five Bucks

Currently browsing: saving money

What I’m going to do with my Travel Fund

Well, BF is just one step away from getting that work-related opportunity, so in light of this situation, I’ve decided how I’m going to split up the $5,000 in my Travel Fund.

  • $1,000 – Travel Fund. Fully funded, this account will hold $3,000. Maybe even $5,000. All of my immediate travel has been paid for. I think next year I might be doing a bit of traveling – Mexico with the family, a possible hiking/kayaking trip to the Queen Charlotte Islands, and J and I were discussing going on a trip … maybe San Francisco, or NYC?
  • $1,000 – Emergency Fund. Fully funded, this account will hold $5,000 at least for the next 3 years. If our situation changes and we end up buying a house, or we are in a position where we have to move, I will definitely think about putting more $ towards the EF. But for right now, $5k represents 6 months of living expenses for me.
  • $3,000 – pay off LASIK eye surgery. That way I won’t have to touch my Savings Fund.

I want to buy a new car

Now, I know what you’re all going to say. That I should buy a used car, because as soon as I buy a new car and drive it off the lot, it will depreciate in value, blah blah blah. I know all of this. But I want to buy a new car just once in my lifetime. Then I will drive it until it falls apart. Whether I actually end up buying a new one is another story. Chances are I’ll balk at the sticker price and end up buying a used one (which is so typical of me). But I know what my preference is.

That being said, my current car is probably going to last me at least another 2-3 years. So I was thinking in the meantime, I can save up money so that I can buy a new car in cash. Or at least put down a very sizable down payment.

I don’t exactly know what kind of car I want to buy, but I do know what I like and what I don’t like. Plus, it’s easy to narrow my selection down to a handful of choices because my tall boyfriend doesn’t fit into a lot of cars. Obviously if I’m not looking to buy for another 2-3 years, I won’t really need to think about what model I want right now … I just want to be able to afford one without monstrous car payments every month for years.

So in the meantime, do you think I should set up a Car Fund? Then I can put money into it for car repairs and insurance for my current car, AND save up for a new one for the future. I like this idea because it keeps my car money separate from my general Savings Fund.

Happy Friday!

Well, today is Friday and pay day – my favourite combination. :) I updated my NetworthIQ and my sidebar totals. This is the first time in a few months where my Retirement Portfolio has taken a hit. Here’s what I did with my money today:

  • $150 rent
  • $200 RRSPs
  • $25 TFSA
  • $200 Savings Fund
  • $100 Emergency Fund

I wish I could have saved more, but I am hoping to buy some things tomorrow when we go down to Seattle. Plus I had to pay off the flight to Calgary that we booked for January.

Buy the Book!

A beginner's guide for Canadians looking to get their financial life in order. Get great info on budgeting and saving, RRSP's and pensions, investing types, insurance, and where to go for additional resources.

Recent Tweets


  • This past weekend I was up in Smithers to participatehellip
  • About to feel nothing floathouse
  • We had an amazing view of downtown Vancouver from thehellip
  • Pretty nice view from the Banner Mountain Lodge  myhellip
  • Perfect evening for a ball game!  safecofield
  • Getting ready to cruise and got upgraded to a clubhellip
  • I did my very first Facebook Live event today! Ihellip
  • Sounds about right! familydinner

© 2017. Give Me Back My Five Bucks. All rights reserved. Powered by WordPress & Designed by Mike Smith