Archive for February, 2012

February 2012 Canadian Budget Binder Budget Update

Posted: February 29, 2012 in Our Family Budget
Tags: , , , , , , , , , , , ,
11
$
How much did you spend this month?

Well here we are again folks at the end of another challenging month for us. We have worked hard at making changes to our budget as we had found some flaws in our 2011 budget.

We also went ahead and simplified the budget so we are putting away money each month for purchases we KNOW will happen this year. That way the money is saved bit by bit monthly and no surprises when it comes time to pay it. We also don’t want to use our emergency savings for bills that are not an emergency.

So here are our last figures for February 2012.  I thought we would be over budget after the 20x points event at SDM but we are on track. These darn events are amazing but can put a dent in our grocery budget. The good thing though is we only buy items we WILL need and WILL use so our future grocery bill will be less. You can’t deny that  Shoppers Optimum Points is the best loyalty program out there.

One reader asked about our grocery budget and what it includes. My answer was all household cleaning products, pet food, health and beauty not including prescriptions. Thanks for the questions fans keep them coming in. :)

I also had a bonus for 2k this month so our monthly income has been inflated. My salary has gone up as I was given a raise as of end of February but I am waiting for actual figures.

If you have any questions or comments feel free to ask. This is a new budget for us. We are working through it in March to fix any glitches we find and to get used to it.  So if it seems a bit wonky to you, have no fear the spreadsheet on our end is much more detailed. This is just a snapshot.

We now have 3 accounts now so our January Net Worth and Budget figures have all changed. We realized we shouldn’t be saving money for items we know we will have to pay for in our emergency fund so we separated it. This way we have  a true figure for savings.

  1. Chequing- This is where all the money comes and goes
  2. Emergency Savings- This is where we keep our spare money for the time being
  3. Savings- This is where we put all the money for items we know we will have to pay for at some point in the year ie: Christmas, Income Tax, Vehicle Sticker. That way the money is ready to pay for the bill.

Cheers!

Mr. CBB :)

THE BREAKDOWN

Monthly Budget Total $5000.00

Total Coupons Used: $164.61

Needs To Go To Savings For Budgeted Expenses: $528.83- These are expenses we know we will pay for throughout year and save monthly for.

Total Expenses Actually Paid Out= $3498.68  Calculated is $4027.51-$528.83= $3498.68

Total Needed to Cover  Expenses Actually Paid Out and Budgeted Expenses: $4027.51- Calculated is $3498.68+$528.83=$4027.51

Actual Cash Savings Going Into Emergency Savings Funds:$3275.62 This is what is left after paying all the above $7303.13- $4027.51=$3275.62

Total Net Income: $7303.13

Explanation of Numbers in Budget Below:

  • First number is :Total Budgeted Cost
  • Second Number is: Actual Spent
  • Remarks- Saved in Account for Future-means it will be put in a Savings account to accumulate to pay bill  or future expense when/if due.
  • If no remark then the money just stays in chequing account to cover  future overage so we don’t need to pull from emergency savings. 

Budget:

  • Allowance $15-Spent $0
  • Car Repair/Maintenance $11-  Saved $11-Saved in account for future.
  • Christmas $25  Spent $25- Saved in account for future
  • Clothing $10 Spent $21.92-overspent this month
  • Dentist/Prescriptions $5-  Spent $51.15- overspent this month
  • Electricity/Water $153.05-  Saved $153.05- Saved in account for future
  • Entertainment-$7-Spent $0
  • E-test-$4- Saved $4-Saved in account for future
  • Furnace/Hot Water Rental-$37.46-Spent $112.38
  • Union Gas (domestic) -$59.19-Spent $76.64 This is averaged out based on past 2 years bills.
  • Gasoline/Diesel (vehicle)-$192-Spent $178.93
  • Grocery- $190- Spent $181.49
  • Home Maintenance-$50-Spent $19.75-Saved $30.25 -Saved in account for future.
  • Car/Home Insurance-$189.46-Spent $189.46
  • Income Tax Filing-$6-Saved $6 for when we pay for our 2011 filing- Saved in account for future.
  • Investment-$767-Spent $767
  • Licence Renewal Fees-$11.84-Saved $11.84 in account for future.
  • Life Insurance-$135.05-Spent $135.05
  • Lottery-$12 -Spent-$12
  • Membership/Club/Sports-$6-Saved $6 in account for future.
  • Miscellaneous-$294.50-Spent $199.61
  • Mortgage-$1470.30 -Spent $1389.12-Saved $81.01 in account for future- extra payments 2 months of the year-5 week mortgage payments. This also includes an extra payment of $417 a month towards the principal.
  • Parking-$5 -Spent $4.50
  • Pet-$2.08-Saved $2.08 in account for future.
  • Property Tax-$287.45-Saved $287.45 in account for future.
  • Emergency Savings-$829.11-Saved $3804.45-$528.83 budgeted costs we put away each month= $3275.62
  • Vehicle Sticker-$16-Saved $16 in account for future.
  • Cable/Internet/Cell/Home Phone-$159.68 -Spent $159.68
  • Work Tools-$50 Saved $50 in account for future.
Keep an eye out as I will be posting out Monthly Net Worth Update as well for February shortly.
How well did you make out with your budget this month?
Related Posts:
Follow on Twitter @CanadianBudgetB and subscribe to our E-mail or RSS feed.

Picture compliments of:Copyright (c) <a href=’http://www.123rf.com’>123RF Stock Photos</a>

About these ads

Buying Clothes from Second Hand Shops..Is it worth it?

Posted: February 28, 2012 in Frugal Living
Tags: , , , , , , , , , , , , , , ,
56

Do you shop at Thrift Stores? Many of these second-hand shops offer new or gently used clothing, accessories and household items for a fraction of the cost at a retail store. Who wouldn’t shop there first, right? Wrong!

Some people take a look around them when they attempt to walk in a second-hand shop to make sure no one they know is around.  Myself I waltz right in as I just love second-hand shops.

Tip: If you are worried what your neighbour or mate might say because they see you in the store ask yourself this “If they see you then you must see them” so what? Who cares?

The stigma put on second-hand shops that they are for the poor or for starving students is WRONG. These stores such as Value Village, The Salvation Army Thrift Store ( Sally Ann)  have grown in popularity in exponential rates over the past decade. Why?

The answer is easy many people now see the value in second-hand items. They also see the savings and understand  the cost to the environment and the re-use value.  Most clothing if not donated ends up in clear bags ending up in our landfills. We need to cut down on landfill waste and recycle.

Come Halloween or during 50% off sales these stores are bustling with people who line up hours in advance just to get their hands on some super sales!

If you want to find a book or a piece of furniture check these shops first or you can try your local Kijiji or Freecycle as you just might find what you are looking for.

I started shopping at second-hand stores a long time ago, actually me mum and dad were avid thrift shoppers and still are today. Although I only buy jackets, t-shirts and work clothes the pay off has been huge for me.

I go through t-shirts at work like nobody’s business and they are trash by the time I am through with them. Why on earth would I want to go and buy a new one?

I sometimes ask my freecycle mates if they have any t-shirts so I can simply mess them up at work. The people in the freecycle community are very welcoming with open arms.

Yesterday I picked up a couple deals while attending the Value Village 50% off sale which I was told happens every 3 months or so.  I love surfing, skating and snowboarding so naturally when I noticed a REEF T-shirt I grabbed it. The t-shirt looks like it was hardly ever worn and only cost me a mere $2.00 plus tax. Check it out below, what do you think? These t-shirts can range in price close to $50 Canadian unless you snag a good on-line deal.

I also picked up a couple of tank top t-shirts for work and the wife picked up a new blouse ( never worn) for $2.50. I’m sure the regular price was far more than that.  All these items fit nicely into our monthly clothing budget.

At the end of the day, thrift stores are great if you know what you are looking for. Even if you don’t know what you are looking for it’s worth popping in to see if you can snag a bargain and in some cases a rare antique worth a lot of money. Ever watch Storage Wars on A&E, some of the finds would blow you away!

You never know what people throw away, donate  or give you for free! It could be worth nothing to them but worth millions to you even if it is a t-shirt! So to answer my question, Is it worth it?

You bet it is! If you know your prices!

Cheers!

What have been your best second-hand purchases?

It's Not About How Much Money You Make It's How You Spend It

Are you NEW to Canadian Budget Binder?

If you are new Start here!

Grocery Game Challenge Rules

You can Follow Canadian Budget Binder on Twitter HERE or Facebook HERE and Pinterest Here. 

If you want to write a Guest Post for Canadian Budget Binder start here!

Related articles
Older Entries