It's Payday (tomorrow)!

Wow, it's Christmas Eve tomorrow - and it happens to be pay day.  It would have normally fallen on December 25, 2009 - but they are bumping it back a day.

There are a couple of fantastic items on this bi-weekly budget.
  1. First up, my pay is the highest it's ever been!  This is because I met my CPP and EI maximum contributions!! So I had just my tax deducted (32% marginal tax rate) and my share's deduction (I'm saving to buy shares of the company through our payroll deduction program).
  2. I got a BONUS!! which is amazing!  I guessed I would take home $385 of my $550 bonus, it was actually $374.  Still pretty good I'd say.
  3. And wow - this blog actually made me some money this month - wahoo!  this is a big thanks to all of my readers and to The Debt Ninja who helped me negotiate this fine fee!
  4. My RRSP and Emergency fund contributions are exactly what i'll need to meet my $3,000 RRSP goal and my $1,000 Emergency fund goals - yeah!!
  5. Bank fee's still suck - i'm working on it
  6. I've written a cheque for my horse board, Starlight's on full feed during the cold winter months - so my rate increases to $165 from $90 in the summer months.
  7. I've alloted double what I usually spend in gas b/c - hey it's Christmas and I imagine doing a lot more driving around the normal - though I'm taking advantage of Shell's pretty sweet Air miles offer I got in the mail.
  8. I'll also be paying of my Visa (in full, i'm keeping it paid off I promise).  This is miscellaneous Christmas stuff that I don't want to detail :)


After all that, I still have $440 left over!! Wow! yea!

Some of that will go to driving to my home town, but I don't think too much will.  Let's say I have $400 left to work with - what should I do with it?

  1. Use it towards student loan debt
  2. Use it to fully fund my 2010 clothes fund goal
  3. Use it towards my 2010 emergency fund goal
  4. Use it towards my 2010 RRSP goal 
  5. Something else entirely?

oh, and for new comers - things are highlighted in green if  I've already written a cheque or the money has already been transferred. It basically is an indicated for me that I don't have to take any action on it.


  1. You could use it to fully fund your EF and RRSPs!

  2. @ Krystal - I have met my 2009 goals, so if I used it for 2010 goals it wouldn't fully fund them - but sure make a dent in the 2010 goals. I know my mom thinks I should use it for professional work clothes.. hmmm...

  3. I say finish off your EF :) then, if you're lacking in work clothes, $400 would hopefully get you a few nice, classic pieces.

  4. I vote for EF or student loans.

    EF because it's good for emergencies.
    And student loan because if you pay down your principal now while the interest rates for Canada are low, you get more "bang for your buck."

  5. I like the clothes idea. Especially since you have met your 2009 goals. =)

    Also, you did so well with the negotiating! I wish I had contacted you/ninja to see what you were making. I lost myself $40! Oh well, live and learn, eh? =)

  6. I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.



  7. I'm with SS4BC. You met your 2009 goals - that is something to be very proud of! Maybe buy an outfit, or 2 on boxing day sales? and then put the rest into your 2010 EF?

  8. Student loans or EF! =)


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