Sunday, 1 June 2014

May Budget Overview

Look at that beautiful debt repayment slice... I could stare at it all day.

Debt Repayment: (48%)

We are winding down everyone! Our LOC stands at just $3500. This month we put just a tad bit over $5,500, which is actually $500 short of our goal. I'm kind of kicking myself because I could have definitely done another $500 if we didn't go on our city trip but oh well. $4000 of that payment came directly from my income tax refund (such a good feeling to transfer that amount) and the rest came from regular payments. Our goal this month is to put $2000. G has been working a lot of overtime the last week, and they are going into the busy months short by two members so I suspect a lot of overtime this summer for him as well. The money is really good but I hope he doesn't get burnt out: I will definitely be watching for that.

Savings: (12%)

We have all our savings automatically transferred from our accounts the day our pay cheques go in so we don't even miss it/ notice it's gone. It's the best way to do it in my opinion! Once our LOC is paid off we plan on bumping up savings quite a bit and I'm hoping to have a more specific visual break down on what we are actually saving for (i.e. Retirement, Car, House Repair, Emergency, Vacation, etc.)

Food: (8%)

Booooo. We spent just a little bit under $900 on food this month. Not happy with this at all. $200 of that is from restaurants alone. Most of this number is from our out city trip to Humboldt where we stocked up on a lot of grocery and then of course ate at restaurants. I am happy to report that I saved a total of $69.48 this month strictly by clipping coupons, and I also saved a bunch shopping sales but I haven't calculated that yet. Hoping to stay at a reasonable amount for June, we have a lot of frozen meat to use for the BBQ.

Shopping: (6%)

Purchased a few items of clothing during Victoria day sales online, G pre-order a video game a while back and the PayPal transaction went thru when the game shipped and when I was in Humboldt a did a bit of drug store shopping -- the majority of it being shampoo, conditioner and medicine but I included it here.

Personal: (4%)

I'm actually surprised how low this number is considering this includes a Mother's Day gift, anniversary flowers G bought for me, and the dental cheque I wrote (which I will get reimbursed for anyways). 

Home: 13%

Besides are our mortgage and insurance payments this number is a lot bigger this month because we purchased some bushes & flowers for our front yard and G purchased a few tools he had been waiting to go on sale. Next month this number will be huge because we are going to be getting the bill for our roof, not looking forward to writing that cheque lol

Utilities: (3%)

Normal, aka boring

Transportation: 6%

I'm so excited to see what this will be next month! Now that I've started my new job here in town, I'm not doing the hour round trip commute 5 times a week. Instead, I know walk to work and walk home for lunch aswell! Only time I really see myself using the car is if it's thunder storming, but I doubt that will happen often. 


Although it looks like we've had an excellent month, I'm kind of disappointed. $500 short of our debt repayment goal, food spending way over, shopping for the clothes on Victoria Day. Wow, I'm actually really embarrassed with myself how we let some of our spending get so out of control. Here's hoping next month is better. We are so close to paying of the LOC, I think that's why it's hitting me the hardest. I just want it gone! :( But there's no one to blame but myself.

- M


  1. Hi,

    I must agree, that is a beautiful pie chart. Seeing just how much you are putting to debt is very satisfying and once you are debt free you can start saving even more! It's such a great feeling.

    1. Thank you! Honestly, keeping this budget and being able to see that budget visually is the best thing we've done for ourselves. It's extremely motivating :)