End of January 2014

January 2014 Monthly Review

2014 is off to an okay start I think, at least financially.

  Jan predicted Jan Actual Difference  
         
Rent 750 768.8  -16.80  
Utilities 63 63    
transportation 60 64.6    
phone 40 40    
groceries/personal care 200 346.85  -146.85  
restaurant 50  0  50  
clothes 50 37.07  -12.97  
gifts 0 57.73  -57.73  
alcohol 40 42.59  -2.59  
entertainment 60 37.99  21.99  
bank fees 15 18  -3  
savings 600 827.10    
debt repayment 400 300    
retirement 50 50    
         
Income 2700 2802.59    
spent 2378 2653.63    
Difference 322  148.96    
  personal savings rate:  31.29%    

Over Budget

Rent: I include house stuff here and I bought a poster and cute decorative thing.

Groceries/personal care: Well, it was just me this month buying food. I thought that would mean I would buy less, but I think (hope) it will just last longer. Also I’ve done a small amount of pampering. I also am trying to renew my passport so I put the $12 passport photo cost here. Who knew Shoppers did passport photos?! They do and it’s fast, cheap and great!

Gifts: Late Christmas gift for my very generous friend’s parents who had me for Christmas!

Net worth Change:

Start of Dec Net Worth: -$9990.31

Current Net Worth: -$8938.6!

Difference: an increase of $1051.71 or 10.5%! Huge change in one month!

Goal Progress:

Financial Goals

1. Save at least $6000 for potential tuition for Sept 2014- I’m at 47.2% of this goal!

2. Continue to save up $1000 for a trip- I’m at 30% of this goal!

3. Make or save an additional $1000 by February- I’m not working towards this goal so much, but the excess money at the end of the month will go to savings, for example this month I planned on saving $600 but I managed to put $827 into savings instead!

January Goals

  1. No sweets, candies, cakes, cookies, etc. for the whole month. I did 2 weeks in November so I’m sure I can challenge myself to keep it healthy all month.

Okay well, this was off to a great start. But then I sort of changed it to ‘no buying any sweets, candies, etc’. I think I went at least 14 days without anything, but then there was a bunch of free things at work like muffins, sweet bread, etc. I’m going to continue to try this because at first it was very difficult- I had a lot of headaches from not eating chocolate or candy every day! (wow!) But now I do have a drastically reduced taste for it. So I give myself a 50% on this one. 

  1. Stay on budget! Since I’ve had monthly spending budgets I haven’t exactly stuck to them. I’m going to challenge myself this month to stay on the tight budget for January.

I did get an extra $101 from GST this month, so with that included I was only be off by about $175 from my goal. Considering I put $227 extra into savings, I’ll call that a win!

Personal Goals

1. Get out of the city at least once a month.

Well I did plan on being an independent mountaineering woman this month but instead I chose to aim to really stick to the budget. I already have plans to show my visiting sister around the mountains in early Feb, so I hope I can continue this pattern more regularly!

2. Run a half marathon under 2 hours 10 minutes

Less than 1 week now, long runs are going well, hopefully I can just maintain these training successes until then!

3. Go on a trip with my partner to somewhere we both haven’t been before.

Let’s table this one for another day. I feel like my partner will probably want to chill at home first for a while before planning any other trips!

4. Try to chill out about future school plans. Minimize worry/obsessively checking application statuses.

Hahahaha. Well I’m half trying this. I’m much more zen compared to years past. This does not translate to a reduced amount of status checking. I’m home alone what else can I do? 

5. Plan more event/activity based dates with my partner and friends.

I did have a pretty social and progressive month which was nice. I went to a fun and delicious fondue party, I did a ‘Name that tune’ night with people from my work which was a lot of fun, I went to a book signing about migrant rights and an aboriginal event to support the Honour the Treaties tour, which was also really cool. The last two I went alone, but I did manage to chat with some people, so I’m getting out there!

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