10/21/2010

Potential 2011 Budget

Based on the goals I described in the last post, here our potential 2011 budget.

 

While we budget on a monthly basis for the big picture, the variable expenses get broken down into weekly transfers to align with our pay schedules.

Rent and utilities are based on having two roommates, so we split the bills four ways.  Hopefully we can keep this going for the foreseeable future.

Our insurance rates recently went down a fraction and my horse board stays fairly steady.  $165 in the winter and $90 in the summer.

We haven't been tracking our spending long enough to know if $1,500/month is enough or too much 'planned spending'.  We're going to roll with this for now and continue to track and post our spending patterns.

Here are where the big numbers lie.  The House Fund and the Wedding Fund.  If we can make this work, we'll meet our 2011 goals.

While I just started my pension, I'm not at the maximum for contributions into RRSP's (neither is Jordan) - so we'll just continue along with $100/month for now.  I would like to see this increase in the future.

I'm hoping my readers will take a look at this and let me know if we're forgetting anything or if something doesn't look realistic.
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6 comments:

  1. Can you combine your cell phone plans and your insurance for added savings? Looks good!

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  2. @ ND Chic - thank you for the suggestions!

    We currently have separate cell phone providers (Solo and Telus) - once my plan ends in July of 2011, we'll explore joining plans - hopefully we will save some cash!

    We also looked into changing our insurance providers, but b/c I have a horrible driving record...changing will actually increase our premiums. We're hoping that by next year, this will be an option as well.

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  3. What's the $12.95 in bank fees for? That's $155 a year to pay for banking, and many banks offer completely free checking and savings!

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  4. @ Moneybags - I know, and I hate it too! We're waiting to see how ING's Thrive Accounts work out - otherwise, our only option is to go with PC Financial....

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  5. Hey Jessie, this budget looks great! Awesoms savings of $2000 to split between the house fund and the wedding fund. I really wouldn't change a thing! Though, you might find your Variable spending amount of $1500 more than generous for 2 people. We manage with a variable spending amount of $1600 for 5 people. Either way, if you have it to enjoy, then enjoy it while you can... once you bring children into the mix your spending habits will change greatly!

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  6. Do you have to pay that bank fee?

    PC Financial has free banking and ATM withdrawals.

    ReplyDelete

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