Exciting News

Little educational update, I won a scholarship!

Woo! I’m $2100 up, or rather, off, my tuition thanks to a very generous memorial fund!

I’m still waiting back to hear from other one I applied so, but so far I’m half way to one of my big goals of the month!

Always fill out any bursary, award or scholarship information folks- I hadn’t even heard of this scholarship before and it was an automatic entry when I filled out my student aid information. If you are working hard enough to get into school- ensure you put a little more work into getting some extra help to put towards tuition or living expenses.

It’s getting harder for me to conceptualize money now that I have this ridiculous credit line, but this extra $2100 now saves me not only that money, but saves me from taking it off my credit line and accruing 3% interest every year.

Go student awards!

September Goals

Okay this month I’m going to . . .

Financially

1. Continue to not buy anything at the school cafeteria.

2. (Hopefully) Win 1-2 scholarships this month

 

Personally

1. Aim to join one student club or association.

2. Continue to run 4-5x a week with yoga at least once a week

3. Pass my first two mid-terms in med school!

 

What’s your plan for back to school/September?

August Spending

August.

Oh monkey it’s basically September!

First whole month at med school, let’s see how my money went:

  Aug predicted Aug Actual Difference Reason
         
Rent 480 293.75 186.25  
Utilities 140 0 140  
transportation 60 350 -290 car rental and gas, car2go for groceries
phone 40 40 0  
groceries/personal care 300 83 217  
restaurant 50 34.73 15.27  
clothes 0 62.99 -62.99  
gifts 0 36.74 -36.74  
alcohol 50 48.68 1.5  
entertainment 50 193 -143 25 for canoe, 80 for formal tickets, 60 cash
bank fees 15 15 0  
savings 0 0 0  
debt repayment 0 339.67 -339.67 clerical error, loan interest
retirement 0 0    
education 0 248.24 -248.24 practise license and app
Income 0      
Spent 1185 1745.8 -560.62  
Line   39.5    
Difference -1185 -1706.3   student loan/grant
  personal savings rate:      

 
Okay so way better than July right???

And I only added $39.5 to my credit line this month! Little victories folks.

I was over budget, but half wasn’t even my fault!

Over Budget

Transportation: car2go is my life now, so I’ll have to figure out something soon. Just got a free bus pass so that might help??

Clothes: While I didn’t actually buy any clothes, which was my (unwritten) goal, I did buy a nice watch. (Read: my first watch ever that I didn’t use exclusively for track splits)

Gifts: Bought Cards against Humanity! Worth it. 

Entertainment: I did buy tickets to an event I didn’t even go to, so that pretty much put me over for no reason. That’s some solid finances right?

Debt repayment: This is the part that kinda sort isn’t my fault! I’m back in school and so wasn’t supposed to have to make OSAP payments but the paperwork didn’t go through so I had to make one more $300 payment in August. Yes I paid a loan from another loan. Yes I’m a finance superstar.

School: I don’t think this really counts as over-budget or not because I did need to pay for a practice license to be able to actually do part of my school and I got a cool studying app on my phone. So responsible 🙂

Net worth Change:

Hahaha, certainly don’t want to do these so much anymore. . .

Current Net Worth: -31432.63!

Less barf this month. I did get a big student loan in so I’m planning on counting on what I’ve spent out of it so far instead of the full amount

Goal Progress:

Financial Goals

1. Stay on budget for life expenses.

Well I didn’t totally stay on budget, but I’m going to give myself a solid B for effort.

2. Continue to track my spending.

Heck yes! I love tracking and even though sometimes I feel like I don’t have time it’s probably like 2 mins worth of work a day.

How was your month?

Check in with August Goals

August is almost over and my brain is starting to hurt from school, so let’s see how my goals went this month!

Financial Goals

1. Stay on budget

I haven’t totally finished the crunching, but I know it’s off already because I had to make a payment to my previous student loan ($300) that I wasn’t planning on.

2. Keep on tracking my spending.

Heck yes! I love to track my spending aka my debt racking up.

3. No shopping for all of August.

Well almost done. I didn’t buy any clothes (which is what I meant, of course. . . .) but I did buy a nice watch that I sort of need for school. It didn’t need to be $60 and fashionable, but hey, it is and it works.

 

Personal Goals

1. Keep running 4-5 x a week.

Heck yes! I’m slowly getting used to the 11-13 hr days of class and studying, but running is not going anywhere. I even have nerdy medical podcasts to listen to.

2. Attend three school social events.

I think I did this too, so woo!

3. Bring food to school every day and don’t buy anything at the cafeteria!

Again, a big almost. I didn’t buy any meals, all I bought all month was a large chocolate milk for $2.80 and a coffee I didn’t even drink for $1.80. So. . . . like 90% done?

How was your August???

Life Update

I’ve been quiet this past week because life just starting happening!

First, my increasingly painful and annoying cough turned out to be pneumonia which had me pretty much sidelined.

And then,

I found out I got into medical school!

My head is still spinning (and my lungs are only starting to catch up). This has been my dream since high school and words can’t even come to close to how I’m feeling. I literally keep expecting them to email me back and be like, oh whoops we made a mistake go away now bye!

I’m going to be the first person in my entire family, as far back as at least my great-grandparents to become a doctor and this humbling truth is not lost on me.

And of course, this has huge (like $$$ $$$!) money implications. Line of Credit, Student Loan, Back to School budget- there’s so much to come!

OH ya, and school starts in July.

I’m going to do my best to keep this updated and I may slide more into the ‘medical school personal finance’ theme but I’ll just keep my mind open.

WOOO!

I’m going to Vancouver!

roadtrip

I’m very excited to report that I figured that there is no time like the present to visit the amazing Vancouver, especially since I’m living closer than ever to it. I’ve wanted to visit Vancouver for as long as I can remember so I’m really looking forward to this!

Even more exciting is that neither me or my partner have been there- so this is hitting one of my big goals of the year, to visit a place we both haven’t been before! This is also my first ever long road trip so I’m pretty pumped (and hoping for good weather!)

The plan:

Drive to Vancouver with a rental car, stay at a downtown-esque Airbnb and check out all the city has to offer, including the spring cherry blossoms.

The financial breakdown so far:

Car rental 4 days: $95 ( I still can’t get over this incredible quote. Being 25 and not having to pay ridiculous car rental fees is amazing)

Airbnb 4 nights: $377

This leaves about $130 for food and fun. We will likely be splitting the food, fun and gas, so I’ll update that when we return.

For folks who have visited Vancouver, do you have any ideas of must-see places, cafes, and restaurants ?

Comparing Quarters

I love the end of the month and the end of the quarter.

I now have over 6 months blogging so I have two quarters to compare.

So let’s compare my Quarter 4 from 2013 to Quarter 1 from 2014!

I’m pretty surprised to see some good and not so good things.

The Bad:

I’ve reduced my debt repayment, but I have done this consciously.

Transportation has slightly creeped up, but I’m not going to stress about a less than 1.5% increase. Not bad considering my focus on renting cars and doing more activities!

The Good:

My savings has gone way up by over 10%!

Housing has gone down slightly.

And the best part is that my life/extra spending has gone way down.

More good than bad so yay 2014 so far!

 

My Quarter by Quarter comparison

Avg Q1 % Q1 Avg Q 4 % Q4
Category
Debt repayment 300 9.27% 367.84 11.66% goal 15%
Savings 1121.1 34.60% 775.33 24.58% goal 10%
Bills 127.58 134.33
Housing 756.26 27.30% 816.66 30.14% goal 35%
Transportation 170.66 5.20% 118.14 3.74% goal 15%
Entertainment 85.92 215.85
Extra 137.86 398.71
Life 155,78 11.70% 227.67 26.69% goal 25%
Income: 3233.9 3153.66
Spent 2855.1 3054.56
Difference 378.8 99.1