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.

Related Posts:

  • Great Feedback!Thank you to all the commenters for the feedback on the first draft of our potential house budget.  I'd like to summarize some of the comments here, and open the door for any others.  Quite a few folks had questions… Read More
  • Wedding BudgetIt's strange, I always thought people who spend upwards of $10,000 and multiples of that were crazy!  How is it possible that weddings actually cost that much!?  Well, apparently weddings do cost that much! Bel… Read More
  • August Spend ReportWhen Jordan and I joined our finances (only a few months ago), I mentioned that my bi-weekly budgets would be dissapearing, but in their place would be end of the month spending re-caps.  Today, I give you our first re-c… Read More
  • Allowance AdjustmentOn the tail end of our engagement and the prospects of buying a house within the same time frame of less than a year.  Jordan and I have decided to make a change to our allowance.  Part of this decision came from th… Read More
  • ING Introduces ThriveThrive is ING Directs new chequing account for their Canadian account holders. For all of my American readers - ING's chequing accounts will be old hat to you - but for Canadians, their annoucement of launching a FREE chequin… Read More

5 comments:

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

    ReplyDelete
  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.

    ReplyDelete
  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!

    ReplyDelete
  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....

    ReplyDelete
  5. Do you have to pay that bank fee?

    PC Financial has free banking and ATM withdrawals.

    ReplyDelete

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