Bust our budget update: June 2013 #6 Bills and payments

When The Budget Numbers Make Sense This was another one of those months where we had bills and payments come due that were big expenses so our budget took a hit on the nose. It won’t look as if we have any money going to our savings account for June as we spent $228.64 more than we earned but that’s not the case. The good part was that most of the big expenses were projected expenses so there will be a savings recognized in our net worth update for June. As you know our dog had to have some extensive work done at the veterinarian this past month so you will see the pet category well over $500 for June not including the work he had done in May. This should be (fingers crossed) the last month for high pet expenses. On a good note, he’s doing very well so it makes the money that we spent and saved worth every penny. We also had our annual tax installment due this month which was a bit higher than the last for this installment coming in at $935 although the money was saved. Other than that our home maintenance is still high as […]

February 2013 Canadian Budget Binder Budget Update #2- Big Ticket Expenses Hurt!

February 2013 is a month we hope to forget but also learn from as our budget took a right hit coming out into the negative. As you already know we had our water softener go belly up and I had to replace that to the tune of over $1100. The good thing is I received Sears points and Canadian Tire MasterCard rewards points as well have 90 days to hope the unit goes on sale for less than $899.99. That way I can go in to Sears and get a product price adjustment. We also had Union Gas around to change our old meter to a new updated meter so I’m guessing we can expect higher bills from now on. Over time the older meters don’t read correctly, hence Union Gas wanting to change them. It was good while it lasted. We also had an increase in our telecommunications bill which I touch on later in the blog post. Let’s see, we had to pay city taxes, our electricity and water bill which comes every 2 months. I noticed a spike in our water bill and once I get the next bill I should be able to pinpoint why and I’ll blog […]

How We Designed Our Budget Step 7- Balancing Our Budget

I’m going to warn you this is a bit of a long post so take your time reading it. Don’t worry I will be putting together a step by step sheet that shows you what we do each time we visit our Canadian Budget Binder Spreadsheet. Balancing the budget is a fairly simple task provided you have enough money to go around. If you are not balancing a budget or using one  you’re likely tossing money out the window without even thinking about it even IF you think you aren’t. It doesn’t  matter how much money you make each month, it’s  all about what you do with it. A budget keeps track of what’s coming in and what’s going out and what you’ve got left. If you don’t keep track of your money you could be spending more than you think.  It’s your choice, your life! Balancing a budget takes time and won’t happen over night. Once you think you have everything something else creeps in. When we talked about How we designed our Budget Step 1 – Gathering All the Information, where I asked you to round-up everything you need to pay, this is the part  where it is going […]

Top Seven Budgeting Mistakes

Budget, Budget, Budget- Only families with children and the white picket fence need one of those, right? WRONG…everyone should use a budget. Did you know that many people don’t even know how to budget? You see most people don’t talk about finances let alone chat about where their money is going. Try telling my old school parents about budgeting and you better duck as hands will be swinging. Whether your plan to start a budget is to get out of debt or stay ahead of the race don’t linger around the Jones’ pad as you might be calling on Uncle Jed to bail you out. Did you Know? In 2011, the Vanier Institute of  the Family released data claiming the debt-to-income ratio is a record 150% noted at yourmoney.ca. Seven Common Budgeting Mistakes You don’t have a budget- If you are wondering why you can’t get that new toy or why you can’t sleep at night it’s because you don’t have a budget. Designing a family or personal budget will keep your spending and saving on track. You don’t save your receipts– It’s so important to keep all your receipts so you enter this data into your budget binder spreadsheet. If you […]

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