It’s the end of April and that means a Budget Update for Canadian Budget Binder is in order. I admit I do get excited at the end of the month to see how we did for the month. We’ve worked hard as a team to keep our budget in check which is important in any relationship. It’s very important to be mindful of your data input and to go over it to make sure it is correct.
We now have 4 people testing the Canadian Budget Binder Spreadsheet for the month of May so we look forward to their opinion. Our projected expenses for the month of April continue to change as you will see below compared to March. It seems we had some other expenses pop up that we had not thought of but this is reality, be ready for these surprises.
New Projected Expenses
- Central Air Inspection Yearly $140.00 plus tax
- Saving for extra weeks payments through year for mortgage as there are 52 weeks per year. Even though we get an extra pay in certain months we still wanted to budget in the money for the extra mortgage payments in those months as well.
- Tax Return of $377.99
- Pathetic interest from the Savings Accounts $84.68
- Overtime Pay
April Monthly Overview
We have 3 Bank Accounts
- Chequing- This is where all the bills get paid from.
- Emergency Savings- This is where our Emergency money sits.
- Savings- This account holds money for projected expenses.
The CBB Family April Budget Breakdown
Monthly Budget Total: $5876.10
Total Coupons Used: $253.21
Projected Expenses: These are expenses we know we will pay for throughout year and save monthly for = $601.59
Total Expenses Actually Paid Out is: $4070.09
Calculated is $7029.05 (total monthly income) – $2357.37 (total monthly savings) – Projected expenses $601.59 = $4070.09
Actual Cash Savings Going Into Emergency Savings Funds: $2357.37
Calculated is $7029.05 (total monthly income) – $4070.09 (actual expenses paid out for the month) – $601.59 (budgeted expenses) = $2357.37 (Total Savings for April)
- Allowance $15-Spent $16.33
- Car Repair/Maintenance $11- Spent $62.74
- Christmas $25- Spent $o- Saved $25 in account for future
- Clothing $10 Spent $37.22
- Dentist/Prescriptions $5- Spent $3.79
- Electricity/Water $153.05- Spent $153.05 ( this will be changed to a projected expense in May as it should be and was not)
- Entertainment-$7- Spent $0-Saved $7 in account for future
- E-test-$4- Spent $0-Saved $4.00 in account for future
- Furnace/Hot Water Rental-$37.46- Saved $37.46 in account for future
- Union Gas (domestic) -$59.19-Spent $44.87
- Gasoline/Diesel (vehicle)-$192-Spent $195.03
- Grocery- $190- Spent $198.93
- Home Maintenance-$50-Spent $63.78
- Car/Home Insurance-$189.46-Spent $198.25 We also received $98 back from Insurance this month as we swapped vehicles for summer. Our new policy starts in May which should be $155 a month.
- Income Tax Filing-$2.50-Spent $0-Saved$2.50 in account for future
- Investment-$767.00-Spent $767.00
- 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- Spent $0-Saved $6 in account for future.
- Miscellaneous-$294.50-Spent $288.61
- Mortgage-$1470.30 -Spent $1632.15 ( extra weeks payment this month as well as $417 extra a month we pay.
- Parking-$5 -Spent $4.40
- Pet-$2.08-Spent $0-Saved $2.08 in account for future.
- Property Tax-$287.45-Spent $856.22
- Emergency Savings-Saved $2239.05-$601.59 projected expenses = $1637.46 saved
- Vehicle Sticker-$16- Spent $o Saved $16 in account for future
- Cable/Internet/Cell/Home Phone-$165.56-Spent $165.56
- Work Tools-$50 Spent$23.34 Saved $26.66 in account for future
- How We Designed Our Budget Step 7- Balancing Our Budget (canadianbudgetbinder.com)
- How We Designed Our Budget Step 8- Knowing Our Coupon Savings! (canadianbudgetbinder.com)
- March 2012 Canadian Budget Binder Budget Update (canadianbudgetbinder.com)
- Net Worth Update March 2012 Canadian Budget Binder (canadianbudgetbinder.com)
- Top Seven Budgeting Mistakes (canadianbudgetbinder.com)
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