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:

  • Joint Emergency Fund GoalNow that Jordan and I joining our financial selves, we will have to look at some of our goals jointly.  The first goal we looked at was our emergency fund.  It currently has just over $500.  Here is a picture o… Read More
  • Joint Credit Card - We Chose!Before Jordan and I left for our camping trip last week, we submitted an application for a joint credit card.  As it turns out,  it takes a bit of effort to get a joint card.  Only one of us could apply (which … Read More
  • Allowances at WorkI think this whole allowances 'thing' is really working. During one of our excursions while on our camping/cabin-ing trip we wound up shopping.  I bought two new great sweaters (total was $55.68) and a new bathing suit … Read More
  • Approved!We haven't received anything in the mail as of yet, but I called BMO Mastercard - and I was approved!  The next steps inlucde getting Jordan a card and sorting out what our limit should be. They actually approved me for… Read More
  • Joint Spending UpdateI spent an hour or so on Wednesday morning sorting out how much Jordan and I had spent so far with our joint credit card... I had a feeling it was creeping up faster than perhaps we had intended it to.  We did know, that… 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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