September 2017 – Financial Update

I’ve got my work cut out for me this month in keeping up with my blogging promise that I made in my last post.  Luckily the first one is an easy one, but I realize I am a day late according to my schedule… I blame the long weekend… It messes with your perception of time… Anyway… here we go… another quick update on my financial goals for 2017.

#1 – Emergency Fund

This is starting to be a bit of a boring goal to report on.  Which I suppose is good.  The human emergency fund has stayed happily sitting at the $10,000 mark.  And once again, the pet emergency fund saw an increase…  We are only $1670 from the $5000 mark.  Which I think should be attainable in the next 4 month if Bentley doesn’t eat anything that his body can’t handle… (His current favourite is to find the chunks of drywall that are lying around because of our renovations… taking soggy drywall out of a dog’s mouth is not fun…)  I’m not sure we will get the stretch goal of an extra $5000 in the human emergency fund, but I’m not going to discount it yet… I may get some overtime this fall.

Human Emergency Fund = $10,000

Pet Emergency Fund = $3330 (+$570)

#2 – Planned Spending

August was actually a pretty lean month in terms of income for us.  No overtime, no bonuses, and lots of spending… So not much (nothing) was added to our planned spending savings.

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: $9000 / $35,000
4. Other Travel: $5000 / $5000 >> Done!  (for now…)
5. Other Savings: $10,000 / $16,000

#3 – Net Worth

Since we are now paying for our renovations, we are seeing a decrease in our net worth.  It’s good to see, because that means that our renovations are getting done, but it’s also sad to see that money leave our accounts… Not much else to say about this right now… It’ll be a struggle to meet the increases that I wanted to see in our TFSA and RRSP before the end of the year, but if there is any extra leftover from the renovations, then we can dump that in to those accounts and maybe it’ll help?  It’s too early to say right now…

 

#4 – Monthly Spending below $8000

We are once again over… But only just by a hair… And considering how much we ate out and bought take-out this month, I’m sort of impressed that it didn’t come in higher… So, even if this is technically not a success, I am totally counting it as a success in my mind.

And that was August… Pretty uneventful…

How was August for your finances?

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