6/28/2011

Updated Budget

Jordan and I have had a few pretty big changes lately, so I thought it was time to update our budget.  While we aren't sure exactly what Jordan's raise is going to look like, we know on the low end what is salary increase is going to look like. I also recently sold my horse - so we no longer have the monthly boarding fee.  We're planning on using the increase in the short term to help pay for the wedding - but once we're in the house we should be in good shape to look at all of our plans.

Here's how it's shaping up so far:

  • Our mortgage is based on the variable rate, weekly payments
  • Utilities are based on what we pay for our similarly sized, far worse insulated home
  • Vehicle insurance is up for renewal in October (crossing my fingers on that one) and I'm looking at moving to weekly payments instead of bi-monthly
  • Property taxes and home insurance are based on some online research I've Done
  • Our cell phones vary but $100/each is average
  • The Master Card spending numbers are based on what we are actually spending right now on average
  • Jordan and I are both comfortable cutting our allowances if we need to, but I would like to keep them if possible
  • House Goods would be planned saving for things like couches/chairs 
  • I would also like to bump up our RRSPs 
So that's it (so far), with $100/month left over.  What are your thoughts all you home owners out there??




Reactions:

7 comments:

  1. Different province but property tax number looks low, while the property insurance number looks high. My property taxes are about $300/month (and my house cost less than yours) and my house insurance is only $43/month. The two even out, though!

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  2. I think that I've commented on this before but your cell phones seem really high. It might be different in Canada but $200 per month is really expensive.

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  3. Jordan called to tell me that he wants to put any extra money we have towards any debt we have after we're in the house.

    i love that man!

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  4. @ND - they are sooo high! It's maddening, I agree!

    I'm actually hoping to look at our cell phones/house phone/TV/internet as whole once we get situated :D

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  5. @ Carly - I'm glad they even out!

    I've guestimated based on online quotes and researching - i'm hoping it comes in about that - we should know more in a few months.

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  6. Expensive cell phones. We are in Michigan and have Metro PCS, 2 phones (like blackberry) both with unlimited talk, text and web for $70 per month for both. Do you have a company like that in Canada?

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  7. $200 for cell phones isn't that expensive. My husband and I spend about $160ish for our phones (he has an iPhone and I have a BlackBerry, both with data plans and unlimited text). We're with AT&T.

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