Saturday, 3 May 2014

April Budget Overview

Hi there everyone. It's time to bust out my beautiful budget pie chart and review!

Debt Repayment: (41%)

We were able to put just a tiny bit over $4000 towards our line of credit this money. The majority of this payment being from G's (husbands intial) income tax and a reassessment we had done (which I talk about in length two posts ago). We are finally down to four digit numbers, people! We ended this money with a closing balance of exactly $9000 left owing :o)  This month our goal is to put $6000 in total, broken down as: $4000 for my income tax return & $2000 for regular payments. It's definitely do-able; and if we can put more we will. I'm really excited and determined! We are so close

Savings: (15%)

We have all our savings automatically transferred from our accounts the day our pay cheques go in so it's nice to know we were able to save $1500 this month without really missing it. We have G's TFSA, my TFSA, my spousal RRSP & our Emergency Fund. The amounts in our TFSA's and my RRSP are pretty small right now but we have to start somewhere right?

Food: (8%)

This number would have been lower but G brought home Boston Pizza twice this month from when he had to go to PA and Yorkton for work; and one does not simply say no to Boston Pizza. This number might be a bit higher this month as we have visitors coming to stay with us at the end of the month and we have our marriage anniversary coming up soon so we might treat ourselves a bit. Though there's not that much choice here in town (there's 2 restaurants) so it's not anything fancy lol.

Shopping: (8%)

Most of this was my clothes shopping binge. You know what though? I wore those skirts this week to work and I felt like a million bucks ;o)

Personal: (5%)

This number includes paying our accountant for doing our taxes so it was a bit higher because of that.

Home: (10%)

No home repairs done this month; so it was just mortgage, insurance, etc.

Utilities: (6%)

Normal, pretty boring.

Transportation: (7%)

Car payments, insurance and gas


Pretty good month in my eyes! Seeing how big the debt repayment pie slice is makes my mouth water (bad pun). G and I were talking a few days ago about what our plan is going to be once the LOC is paid off and how we are going to reallocate that money. We both agreed we are living really comfortably and not feeling like we are missing out. We plan on saving for a truck so I think that's going to be a new priority for some of the money, then maybe ramping up our TFSA's contributions (we are a long way from maxing them out), and the rest for planned spending? It would be nice to have our car paid off too, and the house, and re do the bathroom upstairs, etc etc etc. The list will never end will it?



  1. Yah, the list DOES never seem to end, does it? But congrats on being able to put that much towards debt, and being so close. I'm projecting October as my own debt-free date (with July as the first month that I start to ramp up savings in addition to paying down debt) and I'm really really really looking forward to it.

  2. Thank you!

    October is going to be here in no time. It's definitely a bonus to have a set timeline to count down/look forward too :)