Monthly Standing
Monthly Spending: July 2011
Its finally July, and its time to do my monthly financial updates. As you’ve probably seen, the economy’s had a rough month or two, to the point I liquidated a bunch of my positions. I took a bit of a hit, but I ended up saving a bunch of money (as the market kept falling) by staying on the side line. Hoping its going to recover soon… but with that said, here’s where I’m at.
I know I’ve been pushing my budget, but June was a month of partying (as there was the Stanley Cup), lots of drinking, and lots of eating out… so I’m past it. But thats okay. I’m going to skip this month of the specific details, but sufficed to say. I failed 
2011 Savings / Debt Repayment (per month)
- Student Loan: $600
WIN — paid $4,100 towards it, by moving money out of my TSFA, as well as extra money in my bank. My goal is to wipe it out, and this basically halved it. - Retirement Fund: $600
HOLD — I’m shifting away from this for the time being, and focusing on my student loan.
June Net Worth Update
Assets
- Bank Account: $345
- RSP: $29,001
- TSFA: $2,665
My RSP’s have dropped 7% over last month (eek) costing me about $2 grand. My TFSA has decreased too, as I moved that money into my student loan, to pay that off quicker.
My assets dropped by 12%, partly because of the stocks, and party because of me deliberately moving my money around.
Liabilities
- Student Loan: $3474 (Cut this in half, with money from my TFSA along with some other money in my account)
- Credit Card: $0
I’ve decreased my liabilities by 46%! This is huge for me, and makes the finish of my student loan very close… By the end of summer, I hope, it’ll be gone for good!
Overall…
Net Worth: $28,536 (-4% loss over last month)
The stock market really put a damper on everything… but pulling out of the market, and shifting money to my student loan, was smart (I think). As the economy continues to be shaky this summer, I’ll focus my efforts on eliminating my student loan for good… then, I’ll switch back to saving for a home.
Thats my July 2011 results — how did you do?
Monthly Spending: May 2011
Its already May, and time for my monthly financial updates. April was rough month on the budget, as it was my final month of school (ever), making the celebrations/late night studying/drinking a lot more than usual — but hey, its was worth it!
Lets see where I stand:
April Budget Results:
- Home Basics: $1,120
WIN – spent $1,123 — spent as planned - Groceries: $250
FAIL – Spent $283 - Dining Out: $250
EPIC FAIL – Spent $445 — Still eating out most of the meals, but hoping it changes. This is actually down from last month, which was above $500. - Convenience Items: $100
FAIL – Spent $122 — I’m guessing most was spent on caffeine and snacks. - Entertainment: $70
WIN – Spent only $0 (I need to get a life!) - Other: $200
WIN – Spent $200 — bought clothes, went to a business seminar, etc.
Budgeted: $1,970
Actual: $2,243 ($273 more than budgeted… I really need to turn this around!)
Its obvious where I blew the budget this month — eating out. I’m working in May, to eat at home more often, and eat some of the food I’ve been stock piling in the cupboards and freezer. Hopefully, now that schools all done, I can bring this more in line with my budget.
2011 Savings / Debt Repayment (per month)
- Student Loan: $600
FAIL — paid $200 towards it (not sure why, must have dropped of radar) - Retirement Fund: $600
WIN – I put $1,000 into my market account
April Net Worth Update
Assets
- Bank Account: $782
- RSP: $31,840
- TSFA: $5,704
The various troubles in the world have kept a damper on the stock market, but I’m up 4% overall from last month.
Liabilities
- Student Loan: $8713
- Credit Card: $0
I’ve decreased my liabilities by 3% from last month, which is good news.
Overall…
Net Worth: $29,577 (+6% growth over March 2011.)
This month wasn’t as wide as growth as I’ve seen before, largely because of the market pulling down my investments. But thats to be expected — hoping the summer will see the market pick up.
Thats my April 2011 results — how did you do?
Monthly Spending: April 2011
Its finally April — I don’t know where March went (or February for that matter), but Spring is around the corner, and I’m literally weeks away from being done school — forever. I’m starting to get worried about “whats next”, but looking forward to the break.
For April, the budget itself was challenging — again getting nailed with eating out all the time (something I’m going to fix once I’m done school), BUT, on the bright side, I got my tax return back, and did quite well.
February Budget Results:
- Home Basics: $1,100
FAIL – spent $1,245 — Needed to replace some home necessities. - Groceries: $250
Win-ish – Spent $141 (but I wasn’t eating at home… d’oh!) - Dining Out: $250
ULTRA FAIL – Spent $526 — Been eating out almost every meal, and its adding up. Seeing this number is shocking, and something I’m going to work on changing… Fail! - Convenience Items: $100
WIN – Spent $90 - Entertainment: $70
WIN – Spent only $1 (I need to get a life!) - Other: $200
FAIL – Spent $350 — but bought some more work clothes.
Budgeted: $1,970
Actual: $2,340 ($370 more than budgeted — d’oh!)
Overall, went over budget yet again this month — and again, its the eating out. I can’t believe I spent more than $500/month out — I need to get this in line, and start saving that money.
2011 Savings / Debt Repayment (per month)
- Student Loan: $600
WIN — paid $1000 towards it (from my Tax Return) - Retirement Fund: $600
WIN – I put $3,000 into my market account (from Tax Return)
The tax return really helped in achieving these goals, and blowing them out of the water. This was planned, as my overall yearly goal, depended on a lump sum investment from my tax return.
March Net Worth Update
Assets
- Bank Account: $889.78
- RSP: $30,228
- TSFA: $5,565
My stocks are still down after the troubles in Japan and Egypt, but slowly recovering. Asset wise, I’m up 6% over last month.
Liabilities
- Student Loan: $8,979
- Credit Card: $0
I’ve decreased my liabilities by 23% from last month!
Overall…
Net Worth: $27,714 (+17% growth over March 2011)
This feels good — last month I was down 6%, now this month, I bounced up +17% — thank you tax return!
Thats my March 2011 results — how did you do?
Monthly Spending: March 2011
I can’t believe February is over — it flew by, and has been crazy busy. I’ve been a bad blogger lately, as between work and school, the only free time I’ve had is for sleep. When I’m done, in about 7 weeks, I’m going to refocus my energy on this blog.
This month, I know instantly has been a tough month for the budget. With lack of time, eating out has become the norm… but lets take a look.
February Budget Results:
- Home Basics: $1,100
Win – spent only $1,064 - Groceries: $250
Win – Spent $187 (but I wasn’t eating at home… d’oh!) - Dining Out: $250
FAIL – Spent $429 — Been eating out every meal out since time has been so tight, not to mention my microwave broke (thus, harder to prepare fast food at home), and, hit with a couple pretty expensive going-away parties… Fail. - Convenience Items: $100
WIN – Spent $87 — cutting out energy drinks, has saved me a lot of money! - Entertainment: $70
WIN - Spent only $30 - Other: $200
FAIL - Spent $352
Budgeted: $1,970
Actual: $2,149 ($179 more than budgeted)
So I think I can say I failed in some areas, but overall was only down $200 overall… so not bad, in the scheme of things. I’ve realized, until I finish this insane work/school schedule, that eating out is going to continue — but having only two months left, after that, I’ll refocus that effort.
On another note, that hit my credit card for March, is I bought a shiny new Macbook Pro. I’ve been needing to upgrade for quite some time, and with the new line being released, I knew I was going to buy it (been waiting 6 months for them to come out). That’s a planned expense, that my tax return will be covering.
2011 Savings / Debt Repayment (per month)
- Student Loan: $600
Changed — decided to focus on SAVING money, rather than paying off student loan, as its only a 4% interest rate. Moved this money into the market. - Retirement Fund: $600
WIN – I saved $800 into my market account..
$1200 a month was a stretch for me, but I’m fairly happy with this. $800 of savings, was quite nice, but still below my goal. We’ll call this a 75% win!
March Net Worth Update
Assets
- Bank Account: $488
- RSP: $28,666
- TSFA: $5,500
My stocks went down about 3% over the past month, largely fueled by the instability on the other side of the world, along with rising gas prices.
Liabilities
- Student Loan: $9,272
- Credit Card: $1,757
Student loan stayed flat, as I’m shifting towards building my RSPs/TSFA’s, over paying down the debt (since its such a low interest rate).
Credit card is higher than usual, as I bought a new Macbook Pro (planned expense)
Overall…
Net Worth: $23,583 (-6% growth over Feb 2011)
I love tracking my net worth, as it helps me see the improvement — as I’m paying off both my student loan AND saving, the net worth really provides a great indicator of my results.
Thats my February 2011 results — how did you do?
Monthly Standing: February 2010
So with one month down, lets see how I did… With the new budget and goals I set last month, I’m a bit nervous, as the budget was pulled out of the air. Lets see the damage (eeek!)
January Budget Results:
- Home Basics: $1,100
FAIL-ish – Spent $1,132– I underset this one, and reset it to $1200/month. - Groceries: $250
FAIL – Spent $277 - Dining Out: $250
FAIL – Spent $398 — But, included a ~$150/night out. - Convenience Items: $100
FAIL – Spent $134 - Entertainment: $70
WIN – Spent only $8! - Other: $200
FAIL – Spent $315
Budgeted: $1,970
Actual: $2,264 ($294 more than budgeted)
So I think I can successfully say I failed in January 2011. But this was a good exercise, as it helps me show where my money’s going. Aside from upping my home budget slightly, I’m going to keep the rest the same — I just need to change my lifestyle habits when it comes to eating out!
2011 Savings / Debt Repayment (per month)
- Student Loan: $600
WIN – Saved $600. - Retirement Fund: $600
FAIL – I saved only $300, but left it in my savings account.
$1200 a month was a stretch for me, but I’m fairly happy with this. $900 of savings, was quite nice, but just below my goal. We’ll call this a 75% win!
January Net Worth Update
Assets
- Bank Account: $488
- RSP: $29,427
- TSFA: $4,377
My stocks went up about 3%, which was great, and had about the same amount in my bank as last month.
Liabilities
- Student Loan: $9,263
- Credit Card: $111.17
I paid down my student loan, and most of my credit card, resulting in a 13% reduction in liabilities.
Overall…
Net Worth: $25,081.94 (+10.5% growth over Dec 2011)
I love tracking my net worth, as it helps me see the improvement — as I’m paying off both my student loan AND saving, the net worth really provides a great indicator of my results.
Thats my January results — how did you do?
Monthly Standing: January 2011
To stay on track with my finances, I’m going to post my financial standings on a monthly basis. This will show where my money and debt are at, and how far I am away from reaching my goals. As well, I’ll keep an eye on my net worth too. I’ve put a recurring reminder in my calendar, so I don’t have a reason to forget to do this!
This is my starting position for 2011 — lets see where I’m at in 365 days.
Assets ($33,335)
- Bank Account: $430
- RSP: $28,527 (Goal: +$10,000: $10,000 to go!)
- TSFA: $4,377
I’m going to continue to grow my retirement savings accounts by $10,000 over the next year — either in my RSP or my TSFA account, or both. For the sake of simplicity, I’ve attached my goal to my RSP account for the time being. Haven’t decided which as of yet, as RSP’s lock in my money but give me a tax deduction, while a TSFA keeps my money accessible in case I need it… I’ll know further on in the year, of where it best serves me.
Liabilities ($10,644)
- Student Loan: $9,823 (Goal: $0: $9,823 to go!)
- Credit Card: $820.93
My big goal, is to wipe out my student loan in 2011 — this one, I’m going to do, no matter what! My credit card is high this month, but thats because I bought a new TV on boxing day. This one, I will pay off easily on my next pay cheque, without hitting any interest penalties. I never run a balance on my Credit Card without paying it off, so I don’t worry too much about that number.
Net Worth: $22,690
By the end of 2011, If I eliminate my student loan, and add another $10k to RSPs, my Net Worth will be around $42,000 — this is without counting for stock growth, or dividends. Thats a 100% increase.