Canadian Budget Binder

What happened in October in the CBB House? 

The Budget Saga, no, not the Twilight Saga continues here in the CBB home although I’ve been reminded Twilight Breaking Dawn part 2 comes out in theatres Nov 16,2012 and the red carpet premiere is Nov 12, 2012. I don’t know what it is about the ladies and Robert Pattinson but Mrs. CBB says he’s sexy but not as dreamy and sexy as me and my accent is just as drool worthy (ha, ya that’s what they want us to believe). I also think it’s a way to drag me to the movie release for a date night.. because she has free tickets and has made me watch every other Twilight Movie. That’s Ok, there’s give and take now because I have the remote control so she watches what I watch lol.

Anyhow… enough Vampire talk… the budget saga continues in the CBB home as it should with any home as the budget can change at any moment so it’s important to keep on top of it. This month we see a change in our communications category although it’s no surprise really.

Good News from Rogers Communications who says the CRTC LPIF FEE of 1.5% of your recurring TV bill is being reduced by a whopping 0.5% and will disappear by 2014. Yippie, Yahoo, Yay! Don’t break out the champagne just yet. BUT Wait…(no they didn’t throw in a free IPhone)  they wiped the smile off my face faster than I could say, woohoo, by charging us more for our monthly services. Business is Business, I know, I get it.

I noticed an increase on our bill only to find out that they took back the 15% bundle savings on Mrs.CBB’s cell that we negotiated and gave us 12%.  They are also increasing our internet by $2.00. Apparently I didn’t get the letter in the mail to inform me of the bundle decrease according to one agent and the other said, “well it was on your bill“.

So, if you bundle your services with Rogers.. check your bill (I failed to read all 10 pages)- lesson learned!

If you have

• A 5% discount will be reduced to 4%
• A 10% discount will be reduced to 8%
• A 15% discount will be reduced to 12%

What does contract and deal mean any more? It means if you weren’t one who negotiated a deal you are getting it up the arse even worse! Prices in the UK for communications when I left in 2007 weren’t near as expensive as in Canada. I don’t mind negotiating and haggling for the best prices  although it gets tiring begging for a deal. Maybe it’s time to look elsewhere.

Anyhow, I’ve had to make changes to the budget again for this increase of $1.73 per month or $20.76 per year until the internet increase. Best part of it was when I was told over the phone when I questioned the increases, “it’s only a couple dollars” “every dealer does it“. I’m sure that was her way of saying don’t bother looking or leaving they will all do this to you. Maybe she’s right, maybe she’s wrong, but that won’t stop me from looking.

Do you negotiate your Cell phone, Cable, Home Phone and Internet bill with your provider if you are a long term customer? Who has the best rates in your opinion?

I participated in The Welfare Food Challenge In September so you will see a decrease in our grocery spending for the month.

October 2012 Canadian Budget Binder Family Budget Update

Changes to the Budget This Month

• Communications bill went up by $1.73
• Under in our  Lottery category as I forgot to play one week.. oops
• Added in A/C Service/Maintenance, Birthdays, Extra Mortgage Payments that we save for the months with an extra payment.

Net Income for the month of October was higher/lower due to 

• Interest from the Savings Accounts $0.08+$105.87+ $4.11=$110.06
• Overtime Pay/Training for Work – Yes
• Benefits Reimbursement $18.50
• Work Travel Reimbursement Yes
• Paid Volunteering $25.00, $25.00, $25.00
• Gift Cards Received $10.00 + $10.00 (these were from a Shoppers Drug Mart Promo)

 October Monthly Overview

We have 3 Canadian Bank Accounts with our chequing account being with President’s Choice Financial. We chose PC Financial as one of our banks because we didn’t want to pay any bank fees. We also have never felt the need to see anyone personally inside of a bank but if we do Canadian Imperial Bank of Commerce (CIBC) will gladly help us out as PC is affiliated with CIBC.

1. Chequing- This is where all the bills get paid from.
2. Emergency Savings- This is where our Emergency money sits.
3. Savings- This account holds money for projected expenses.

The CBB Family October Budget Breakdown

• Monthly Budget Total: $5797.85
• Monthly Net Income Total: $7286.25 a 2.18% Decrease from September
  
• Total Coupons Used (this includes everything such as points redeemed, big box store coupons, not just grocery coupons: $121.16 down from $192.75 in September
• Projected Expenses: These are expenses we know we will pay for throughout year and save monthly for = $1224.89
• Total Expenses Actually Paid Out is: $3705.10

Total Expenses Actually Paid Out Calculated is $7286.25 (total monthly income) –$2356.26 (total monthly savings)–Projected expenses $1224.89 = $3705.10

Actual Cash Savings Going Into Emergency Savings Funds: $2356.26  which is an 18.01% Increase from September 2012 Savings

Calculated is $ 7286.25 (total monthly net income) – $3705.10 (actual expenses paid out for the month)–$1224.89 (projected expenses) = $2356.26 (Total Savings for October)

The Outcome: October

PE=Projected Expense  is money which is automatically saved so if we go over in a category the money will come from the PE Account where it accumulates all year. The key is to make sure that you are not spending more than you are saving each month over the course of the year.

Example: Clothing we budget $10 per month. If we don’t spend it we move it to the projected expenses account. This means we should have $120 per year for clothing to spend. We have to track that expense as we spend it. If we see we need to adjust the budget because the number is far too low or high we will do that. I may add a Year to Date starting in January 2013 to this update so I can track it along with all of you.

Total Net Income October: $7286.25

• A/C Service /Maintenance- PE $12.50
• Allowance $15.00 Spent $0
• Birthday PE $10.00 Spent $30.00 Over by $20.00
• Car Repair/Maintenance PE $23.50 Spent $0
• Christmas PE $25.00 Spent $o
• Clothing PE $10.00 Spent $46.05 Over by $36.05
• Dentist/Prescriptions PE $5.00 Spent $17.95 Over $12.95 (will get reimbursed)
• Electricity/Water PE $153.05  Spent $344.13  (This bill comes every 2 months) Over $38.03
• Entertainment-$7.00  Spent $7.90 Over $0.90
• E-test PE $4-Spent $0
• Extra Mortgage Payment 5 week- PE- $101.26 Spent $0
• Furnace/Hot Water Rental PE$112.38 Spent $0 (This bill is every 3 months)
• Union Gas (domestic)-$59.19 Spent $32.36 Under $26.83
• Gasoline/Diesel (vehicle)-$192.00 Spent $220.51 Over $28.51
• Grocery- $190.00 Spent $96.33 Under $93.67  Play The Grocery Game With us to Save!
• Home Maintenance PE $329.00 Spent $126.41
• Car/Home Insurance-$205.17 Spent $205.17
• Income Tax Filing PE$2.50 Spent $0
• Investment-$767.00 Spent $767.00
• Licence Renewal Fees PE $11.84 Spent $56.50 Over $44.66
• Life Insurance-$135.05 Spent $135.05
• Lottery-$12 -Spent-$9.50 Under $2.50
• Membership/Club/Sports PE $6.00 Spent $0
• Miscellaneous-$125.00 Spent $190.28 Over $65.28
• Mortgage-$1389.12 Spent $1389.12
• Parking-$5 -Spent $5.50 Over $0.50
• Pet PE $83.33 -Spent $0
• Property Tax PE $287.45 Spent $0
• Emergency Savings-Saved $2356.26
• Vehicle Sticker PE $16.00 Spent $o
• Cable/Internet/Cell/Home Phone-$146.19 Spent $146.19
• Work Tools PE $50 Spent $14.20 Under $35.80

Overall: Not so bad of a month for us and we are working on goals for 2013. Do you set financial goals for your family?

Check in at the beginning of  December to see how we did in November!

• How did you make out with your budget for September?
• What changes do you need to make to your budget?
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