Saturday, 25 July 2020

Networth - June 2020

Assets:

Liquid - $27,539
This is anything we can easily liquidate with no penalties given a real emergency - I have included TFSA’s in this category for that reason.

Retirement - $292,096
G’s pension is a defined benefit pension at his work. For this calculation we take the cash value of the pension he would receive if he were to quit.

Hard Assets - $259,000
House value and car private sale amounts. The car values I update yearly in December.

Liabilities

Mortgage - $134,933
13 years & 8 months left on this baby! Woohoo :)

Consumer - $20,189
The only consumer loan we have right now is a car loan.

Networth: $423,513

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Our goals/focus right now are three things:

  1. Saving up money for G’s laser eye surgery - I had my surgery at the beginning of this year and we paid in cash. G’s surgery isn’t scheduled yet but we are expecting it sometime in the fall. We will need to save up $4,290.
  2. Saving up money for a gaming laptop - As you may, or may not know, I live in Saskatchewan but was born and raised in Ontario. All of my family is still living in my home town, so there’s always lots of FaceTiming, phone calls, etc. Since the beginning of the year my sister and I have been ‘hanging out’ via FaceTime and playing computer games together. This was fuelled even more once COVID hit. It’s honestly one of the highlights of my day - although we are playing a game we are also chatting, catching up, G is sometimes in the conversation if he’s in the room. We have a good desktop computer but G also likes to unwind after a day at work playing computer games. So we thought it would be a good idea to get a laptop for me to use while also replacing my failing MacBook Pro. If you can’t tell I’m just trying to justify this purchase, haha. G has been keeping an eye out for some good ones but wants to see what deals there will be for back to school and possibly Christmas. 
  3. Replacing $5,500 to my TFSA - In the whirlwind of 2018, we dipped into my TFSA to help fund our last minute plane tickets, car rentals, hotel stays, etc. I’ve been lazy to replace those funds but want to pay myself back by the end of the year.
Everything else right now is on autopilot. I still keep a budget every month to keep track of all of our income and expenses. I don’t think that is a habit I will ever break. 

- M


Sunday, 12 July 2020

Long Time No Post

Wow - two entire years of not posting. I had to dust of my old MacBook to even figure out what the email was the get into this account!

It feels good to write again. I’ve wanted to update for a while but life just kept getting in the way. I continued reading a lot of other blogger updates - those that are still around and writing, Cheering, laughing and crying at their post while sitting on my couch on a Sunday morning with my coffee. 

So lets do a TLDR version of 2018 - 2020.

2018 was rough. As you know from previous posts, my grandfather passed away in January of that year. In May we went back home to Ontario again for a wedding - it was good to see everyone again under much happier circumstances. At the very end of June, I got a phone call from my mom saying my grandma (her mother) was entering hospice care and they didn’t think she had much more time. G and I dropped everything and flew to Chicago to meet up with my family. I am so greatful that we were able to have a proper goodbye and was able to see her before she got really bad. 

2019 was a better year mentally. G and I spent a lot of time cooking together. Going camping when the weather was nice. Spending time with friends. I also started a new job in June! Still working at a Credit Union, but this is a much closer drive and MUCH better working environment. Over a year later and I’m still loving my job and hope G never gets transferred, lol. The biggest accomplishment that year was completing the Berg Lake Trail - our first overnight hike. We spent 4 days 3 nights on the trail and the views we absolutely worth it! Another vacation we took was to Mexico for a wedding. First time we’ve ever been south of the United States and it was a bit of a different vacation then we were are used too. However, it was nice to be there with family and friends - and we would definitely go back when we are looking to relax.

2020 so far has been good considering everything going on. In January I had laser eye surgery, which we paid for in cash. Best decision of my life - no complication and no side effects! (And trust me right before my surgery everyone was telling me horror stories...) We had a trip planned in April to England, Wale and Scotland but that obviously got cancelled because of COVID-19. We were able to go all our money back except two hotel booking - one we have a voucher for and the other hotel was just horrible so we bite the bullet for $164. G and I have both been working during this pandemic - nothing has changed financially for us at all. We’ve been enjoying time at home and went camping a few times so far this summer. Our provincial parks are only open to Saskatchewan residents so it’s been nice to explore our own backyard. On Wednesday we got back from Good Spirit Lake Provincial Park and had some wonderful weather for beach days!

I’ll update the finances in another post. For now, I’m going to enjoy my coffee on the deck and be thankful there is a breeze to keep the mosquitoes away.

- M

Saturday, 21 April 2018

1st Quarter 2018 Networth

Assets:
  • Liquid Cash - $16,588
    • This is everything we can easily liquidate incase of emergency without any penalties. TFSA's are included in this category for that reason.
  • Retirement - $159,906
    • The largest account in here is G's pension. We use the transfer value on his pension statement, as that is what we would be able to transfer to a LIRA (locked in retirement account) if he were to quit. The rest would be my pension and RRSPs.
  • Hard Assets (House, Cars (private sale amounts) - $257,000
    • House value is what we paid of the house plus a little extra to account for the new windows. Car values are calculated on a yearly basis - they are the private sale figures I was able to calculate online.
Liabilities:
  • Mortgage - $152,311
    • 15 years and 11 months left on our mortgage! We haven't made any extra payments to this debt but do have an accelerated bi-weekly payment - which helps a little.
  • Consumer (Car & Remodel Loan) - $29,815
    • Working on this... 

Current Net Worth: $251,368

(Quarterly Increase: $32,443)

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Maxing out our annual expenses has definitely helped out liquid cash situation, we had our first bill arrive in the mail last month and we were able to pay our house insurance without even batting an eye. Retirement has also had a nice boost thanks to both of our work pensions. My RRSP is currently on sale, so any contributions I make seem to be gobbled up by the markets. I'm not bothered by this at all, we both have a long time before these funds will ever get used so there's lots of time for them to grow (and shrink). Hard assets are the same, last year I updated the private sales amounts mid way thru the year I might do that next quarter.

The snow ball is definitely rolling! We've been able to pay off $8,234 of consumer debt. Our renovation loan is at the Credit Union I work at so each time I get the loans clerk (a friend of mine) to take an extra payment she cheers me on, lol.

Glad we finally made it thru winter here in Saskatchewan, here's to an even better Spring!

- M 

Sunday, 25 March 2018

Second Winter

Saskatchewan was hit with a pretty messy storm Friday. I ended up leaving work a bit early to make it home before I was storm-stayed. My usual 50 minute drive took 1 ½ hours. I got home safely and G had a bottle of wine chilling in the fridge for me, lol.

I'm grateful we didn't have any plans this weekend that required us leaving home. We completed all the house work and spent most of the afternoon yesterday baking macaroons (see pictures below).

Green tea (matcha), Rose, Lavender-Vanilla & Earl Grey!
This was the second batch we've tried making, first batch was a huge fail

Money situation has been smooth sailing. I have a $2000.00 cheque written and it will be applied to our loan this week. I also made an extra payment of $500.00 that we had left over from one of my paydays. Ideal situation has us paying off the renovation loan by August. Honestly, as long as it's gone by this year I'll be happy.

Next weekend we booked a trip to Calgary for Easter, which I ended up just taking out of the regular budget. We also booked our camping trip for end of summer! Sleeping in a tent for 5 days in Jasper, followed by two nights in Edmonton where I booked us a nicer hotel (I figured we deserved it, lol). Those bookings I took from our vacation fund to pay off our credit card as soon as the charges hit.

I also had my final fitting for my bridesmaid dress. A lady G works with does sewing work on the side and agreed to do the alterations. Best park: it was free! G had sharpened their kitchen knives a while back and she told him if we ever needed something sewed to let her know. I'm going to bake her something though - just as an extra thank you. I also got my shoes. The bride said she wanted us comfortable in flats but asked that they are silver. I found the perfect pair at Ardene's and ordered them right away. Best part: they were only $7.50! I'm glad because it's not my everyday style but it looks amazing with the navy blue dress. I won't feel bad if they get wrecked from dancing that evening. :)

- M


Sunday, 11 March 2018

2017 Income Tax

$4230 total refund we received this year. Sadly, next year will be my last time I am able to claim the Saskatchewan Graduate Retention Program benefit - which makes up the majority of my return. G's is mostly from spousal RRSP contributions and his overtime payouts being taxed at higher withholding.

When the money was deposited into our account this week the first thing I did was top up our annual payments account. We added $2300.00 to max this account out at $7000.00. Since we are technically a year ahead now to save for upcoming known expenses I made a preauthorized transfer to go into this account for $250 biweekly. That way the account is always being refilled, and our annual payments are on autopilot!

Now there is an extra $1930 that we do not have allocated yet. I haven't spoken to G about it yet but I'm thinking about making an extra $2000 payment onto our renovation loan and start that snowball. Our current balance right now is $12,932. Our interest rate is not small on that loan and it makes me sick thinking about how much we are paying someone else.

It's the next 2018 goal we had set for ourselves so it would be nice to get it crossed off the list as soon as possible.

- M

Monday, 19 February 2018

Organizing

Finished all my organizing goals that I had for today!

I spent the morning clearing out our bedroom side tables. A few months ago G and I switched the side of the bed we sleep on and hadn't switched the stuff in our tables. His stuff is pretty straight forward but it let me sort thru and get rid of so much clutter. We honestly had 10+ small bottles of body lotion. I ended up just throwing them out, it wasn't worth keeping them around and remembering to use them up.

I also added a few more items to my donate pile while sorting my closet. Mostly fall/winter items I never grabbed for this season, or items I put on and immediately took off. I'll have another edit later today now that everything is organized. There's a few things I can think of that I'm on the fence about.

It's been a quiet Monday. G is at work and I've working on our photo book. Hopefully we can get that done by next week so it's printed by April. We seem to work much more effectively when we have a deadline looming, lol.

- M

Sunday, 18 February 2018

Long Weekend

It's a long weekend here in Saskatchewan - Monday being Family Day. G has to work the holiday but had the rest of the weekend off with me.

Yesterday we spent the morning meal planning. On the menu this week: pork schnitzel, Greek pasta salad, cabbage rolls and cajun chicken pasta (using this BudgetBytes recipe). After we organized, we packed up our SUV with a load of recycling to drop off and went grocery shopping. It was a pretty normal Saturday but it felt nice to get some of the garage cleared out - recycling is neglected during the cold winter months.

We haven't left the house all day today. Instead opting to watch the Olympics and I've finally convinced G to watch Mr Robot with me! The never ending laundry pile continues to keep us busy today. I cleaned out our linen closet upstairs. Downsizing what we had by nearly half. I have a good amount to donate, next time the CD is in our area. I made so much room I was able to move our bulk cleaning supplies in that closet so everything is in the same spot. I've nearly gotten a storage shelf downstairs cleaned off, which was a goal this winter.

Next cleaning goal will be our bedside tables and my workout/lounge drawer. I also would like to go thru my closet to reorganize and toss what doesn't fit for spring & summer. We will see how I feel tomorrow and if I'll be bored with G at work.

- M