July 2017 Financial Update

Happy Canada Day to my Canadian friends, and Happy Independence Day to my American neighbours.  Canada Day always indicated the beginning of summer to me growing up, and while I don’t have summers off anymore, I do feel like it’s the start of all the fun summer activities, like camping and swimming in the lake.  And in terms of the blog here, it means that another month has passed and it is once again time to do a quick update on my financial goals for 2017.

#1 – Emergency Fund

We managed not to touch the human emergency fund this month, so it is still sitting at the happy $10,000 balance.  And we added a tiny bit to the pet emergency fund this month.

Human Emergency Fund = $10,000

Pet Emergency Fund = $2440 (+$210)

#2 – Planned Spending

In terms of planned spending, we didn’t add too much here, mostly because we paid our annual property taxes this month, so all the extra that would have gone here went there instead.  I need to do a better job of saving up for that throughout the year… But that’s a discussion for another day…

  1. Travel #1: $3650 / $3000 >> We spent more than we had planned…
  2. Income Tax: $0 / $400 >> Turns out we both got a refund this year!
  3. More Home Renos: $5000 / $35,000
  4. Other Travel: $4100 / $5000
  5. Other Savings: $0 / $16,000

#3 – Net Worth

It  has finally happened… We finally have a decrease in net worth.  This comes from a few things… The first I mentioned briefly before, is our property tax.  The second is the fact that our renovations have started and so we have had to start putting deposits down on things, and pay some bills… The third is that June is the month that I renew my car insurance, and I pay it all at once rather than monthly (you apparently save $20-$40 because of doing that – I know it’s not much, but it’s money that stays mine).

NetWorth_July2017

#4 – Monthly Spending below $8000

Let’s just say that June blew every previous month out of the water.  Like, all the way to the moon, out of the water… I’m not totally sure that this comparison is fair when I pay certain things annually… Like property taxes and car insurance… If you take those out we are about the same as most other months… Although, this month we spent way more on gifts than we have all year combined… So maybe that means that we are doing better in other categories?

June 2017 Spending

June was a spendy month…  Let’s just move on…

How was June for your finances?

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7 thoughts on “July 2017 Financial Update

  1. We had a really good June. We kept our grocery/food bill really low, my husband got a bonus, and I had my best month in sales since starting my Beautycounter business two years ago! We’ve been saving up for home renovations for awhile, so I know in the next year or two we’ll have a month where we start to see a drop in net worth. But for now I’m enjoying the steady increase. Happy Belated Canada Day! 😉

    Liked by 1 person

      • Absolutely. I’m sure your past of experience of renovations has taught you that it’s definitely worth it. Plus we can’t just hoard our money; we can’t take it with us so if we’re being responsible, why not spend it on something worthwhile.

        Liked by 1 person

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