October 2012 Canadian Budget Binder Family Budget Update

Canadian Budget Binder Family Budget Update

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.

Actor Robert Pattinson after the Twilight Saga...
Actor Robert Pattinson after the Twilight Saga Film New Moon (Twilight Chapitre 2 Tentation) Photocall at the Crillon Hotel in Paris, France on November 10, 2009. (Photo credit: Wikipedia)

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?
  • Follow Canadian Budget Binder and Budget along with us!

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    1. I think Brandsaver might have come out yesterday. I’m going to go look today.. I forgot if it did. I’ve found quite a few coupons with Mrs.CBB lately the problem is they aren’t like they used to be. All good things come to an end they say.. but a penny saved is a penny saved in our pockets right?

  1. The E-Savings of $2356 is commendable Mr. CBB! I think it’s also laudible that you use coupons to save on purchases. I always forgot to put them in my purse when going to the grocery or pharmacy.

    1. We sit down and plan every Sunday with the flyers, coupon matchups (which are in every grocery game post) and make a list. Mrs.CBB used to bring a big binder in the shops but now we leave it in the car and the coupons she needs she puts in her purse. This also helped her not spend so much. Cheers mate. Mr.CBB

  2. Great job on the budget this month. Sorry to hear you have to endure the Twilight films. I’m lucky: Cheryl isn’t a fan (though I make up for it by being dragged to “Perfect Pitch” instead).

  3. I should swap you pets, mine always costs more than I budget for :s

    And with your bill being raised, its definitely worth shopping around, I do it all the time and while i’m not sure exactly how much we save, i’m sure it’s in the hundred of dollars range.

    1. I don’t think many people would notice unless they read the bill or like us document all of our expenses so we would see it immediately. Just another great reason to budget! What services do you have with Rogers and what do you pay? We have home phone,cell phone, internet and cable.

  4. Personally I don’t see the attraction for what’s his name……or the books… We did have a look at our Rogers bill and I did notice the change in the percentage part of the bill. I noticed it was a buck or two higher than the month before so I went looking for a reason. Not that We won’t see that go down any time soon. After Hubby and the boys had a talk about the Rogers bill it was decided that internet stays the same, they worked to reduce slightly on cable, and we are adding the landline to Rogers as that will be cheaper than Bell charges us. I’m trying to get some kind of handle on things here with out losing my mind, I don’t have much to work with at all but I’m trying…….

    1. We don’t have a huge bill with Rogers but it’s big enough. When we did our end of year last year and noticed we were spending over 2k on communications it really hit home. They have been good to us but like I said good sometimes is not good enough. Just like they are looking out for their business we are looking out for our budget. What do you currently get for services and what do you pay with Rogers?

  5. Wow, my husband would be tarred and feathered before he watched a twilight movie. I was never a fan of Pattinson. After reading the books, I had a picture in my head of Edward, and it wasn’t him. I just saved lots on my internet by asking. I’ll have to watch if they creep that back up.

    1. I think it has to do with the way they portray Edward in these movies and how some women envision love and relationships. I don’t think it was poorly done and it was nice to see for once a man that showed his emotions towards a woman rather than the other way around. Although it’s a girlie movie in my eyes I think we can take away some lessons from the movie, heck it must have impacted Robert Pattinson and Kristen Stewart, they are a couple even through the recent cheating battles. Mr.CBB

    1. Don’t get me started on his hair. She loved it and had me growing mine like his for about 6 months but not like in the movie, in real life. Unless I win the lottery you meant to say haha Cheers Cat

  6. Our budget is much simpler than yours. Having little money will do that! 😉 Less to budget with means fewer transactions to track. Still, I’m pleased with October.

    We had some extra expenses both foreseen and unforeseen, including new tires and front brakes for the car, a whopping prescription bill, and some home repairs but were able to manage them all without dipping into the emergency fund. Because I decided that we needed to start our “no spend November” a week early, we were under budget on groceries too.

    I’m baking ahead for my December blogs (watch for it: 24 baking recipes in 24 days) so November’s challenge will be to avoid using the household grocery budget to supplement the amount set aside in my blogging account for the month. We’ll have to see how that goes, but the pantry’s well stocked so I think I should be alright there too.

    1. Wow, I can’t wait to see what you are going to bake for me.. (ha). I’ll be posting only a few of our traditions here but if I bake for 24 days she might kick me out of the house lol. I look forward to see what you make and to see how you spend that money. Cheers Beth, Mr.CBB

  7. My goodness that’s a detailed update! It does seem like you were over on quite a bit of things, but you were also under on a few as well. Overall, if you’re making exceptional progress then I don’t let these little things bother me too much. Now, if you were to blow $1000 on misc junk, then there may need to be an issue you should address…but $50-100 over on your budget for the month really isn’t that big of a deal.

    Great work CBB!

    1. It really was the misc where we struggle as most of the expenses are PE= Projected expenses so we save for them in a separate account. Others that we were over on like parking .50 well we hardly use that budgeted money, and entertainment ( we will change that in the new year to $10) Electricity will average out at the end of year… Spend on junk meh, I work too hard to buy junk haha. Cheers Mate. Mr.CBB

  8. We try to negotiate services like TV and phone but have also found that many providers are becoming less and less willing to do so. We do have goals each month, but it can be difficult to manage month to month since we run our own business. Thank fully we’ve had a few good months lately, so that really helps out.

      1. That’s a very good question. It can be difficult, but in the end it does not have to be That is also the exact time a budget is needed, to help in times when income can be unknown. My first piece of advice would be to have a good Emergency Fund, and if they don’t…start one now. When you’re pay fluctuates wildly it’s more of a necessity than ever.

        The second piece would be to know what exactly you need to get by each month. That’s what the budget should be set to and after the budget, prioritize the things they would like to accomplish after that. Any months they have of an overage then they’ll want to save a good portion of it and the remainder to be thrown at the other line items they maybe were not able to take care of in lean months.

        That is the short answer. If you have any further questions, feel free to drop me a line Mr. CBB and I’d be more than happy to help. This has me thinking that maybe I should write a post on this. 🙂

  9. MR CBB, there seem to be a number of categories where you spent more than you allowed. Is it time to adjust the budget or cancel a few things? I will say though that there are a number where you were under. I like to put those under budget amounts away for either Christmas or a splurge.

    I took care of getting our AT&T phones unlocked this trip. When I get home, I need to get Larry’s iPhone unlocked by Fido and once we make sure it’s functioning with his AT&T sim card, we’ll cancel our Fido cell phones and save ourselves $56-$60 per month. We’ll just have our California cell phones because $100 per year keeps each account functioning. That’s a big savings! We really only need them for an emergency now, so we don’t need to have expensive cell phones nor data coverage. Besides, AT&T uses the Rogers network in our area and we’d have basically the same cell coverage that we currently have, if and when we needed it.

    1. I think we will up the Entertainment to a cool $10 for next year and as for the others the electricity/water will balance out at end of year,petrol was over as I filled our spare gas tank which is still full plus we did one out of town trip but we are usually fine with petrol. Parking we hardly ever pay for and it’s normally under $5 except this time it was over by .50. The other is a projected expense that is over which is fine as the money is already saved in the separate account.What we do need to work on is the miscellaneous category. So for this like you mentioned we either need to add more $$ to the category or stop spending so much. Your Cali phone s are they pay as you go? So you pay $100 and when it’s gone it’s gone or do they put time stipulations on it? Mr.CBB

  10. We didn’t do so well in Oct. We’re still spending more than what we make (just not as much as we used to). We are not going into debt but at the end of the month we don’t have the amount we’re supposed to to put in the projected expenses account. It’s a great improvement from where we were 6 months ago but there is still much to be done. Sometimes it can feel like such a struggle. Glad to see you do so well this month 🙂

    1. Thanks Jen. You have come so far since working with me. All I can say is you have to get your expenses below what you earn. I’m sure that anyone who reads this comment will agree. You can do it, but there are things you have to give up OR make more money. Keep at it .. you’ll get there. Mr.CBB

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