A Home of Our Own

One of the big topics while I was in town over the weekend, was an idea Jordan had about a transitional option to sell my great aunt's house to us. This isn't something I've talked a lot about before, but I've written about it a few times.

Jordan's idea was that we renovate and move into the basement and do a rent-to-own scenario.  We would want to do a proper legal suite and would have to ensure that her smok(ing) wouldn't get down into the basement.  Pluses in the space is that it's already plumbed for one bathroom and has a bedroom.

This would work for both parties in a number of different ways.  We would be able to get a head start on renovating, we wouldn't have to rent anymore (in the rent-to-own scnario, the 'rent' would be going straight to principal).  We would be there to provide support to my aunt.  This is something we do anyways, it would actually be easier because we wouldn't have to drive accross town. 

This is something I'm likely to start writing more about as time goes on, investigating the different ways this could play out and the steps we would need to take.

Has anyone ever renovated a secondary suite?

Weekend Update

Good Morning All!

I hope you had a great weekennd!  I went back home to visit my mom for Mother's day.  I went on Saturday and came back Sunday - so it was a very quick visit, but an enjoyable one!  Coincidentily, when we stopped by my grandmother's house to say hi, three sets of aunts/uncles stopped by as well - so I really got my visiting in!

I'll need to fill up my tank now (~$30) which is a week early then normal - but I was good and didn't buy a bunch of crap to eat for the drives there and back.

While I was there we did a lot of talking and catching up which was nice.  I also helped my mom w/ some yard work.  We're having a family get together at their place in a couple of weeks - so it was nice to get some work done now.

What did you do for mother's day?

Potential Joint Budget?

Below is a potential Joint Budget for Jordan and I once we become debt free and are in a home of our own.  A lot of the numbers are guesses, but I believe they would be fairly close to this (like my income and a mortgage, for example).

I wanted to throw it out there to get thoughts from people who budget with more than one income in mind - do my numbers seem realistic/fair?

Although most of the budgets I post are based on a bi-weekly scenario, please keep in mind this would be a monthly budget :)

Thoughts?

an Update on Jordan

I talk about him and I quite a bit on this blog, and every now and again i share things about his truck loan or other such things - even though this blog is all about Jessie's Money.

I'm pleased to be able to share with you that his truck loan is so so so close to being paid off.  He's been steadily paying $150/bi-weekly for the last several months and his current balance is now $512.87.  This month, he'll be get a benefit cheque of $400 and that will be applied directly to the loan.  As long as it comes on time, he'll be 100% debt free this month - and at the latest, next month.

He's given his Visa to me - much like I gave him mine a while back when I was having troubles not using it.  It's about half paid off and he's got about $300 to go.  That too should be paid off by the end of this month.

I'm so proud that he's making headway on these two things and I know he is too!

Here's an image of his spending for the next two weeks:

After all his fixed expenses as well as a Visa Payment, paying for the lunch truck and a tank of gas - he'll have about $100 for entertainment/other - which is the same that I give myself every two weeks.

He's so looking forward to having the truck paid off - which will give him an extra $150/bi-weekly.

I've told him what I think, and he's said what he thinks he should do - but I'm curious, what would you suggest he do with it?

Where The (Joint) Monies At

So, our roommate gave us notice a couple of days ago, along with May's rent.  We knew that he would be temporary (although I was hoping he would stay until July).  So far, it sounds like his friend that moved in at the same time, will stay.

As our joint account is based on bills for three people, we don't have to panic about finding a new fourth - but we're considering it.  For the last six months or so, we swore we didn't want more than three people in that house - but the two months we had of overlap was pretty great.  They guys got a long great, and helped out around the house. My mom suggested perhaps we look for a new fourth, but be very picky - because, why  not?

In our consideration for another roommate, I thought it prudent to check the numbers in our joint (bills) account - to see if we are in a position where we need another roommate, or it would be a luxury.

I  haven't gone over Jordan and my Joint account lately - so as a refresher here's how we figured out our joint contribution:

• Rent ($1,350) less a roommates share ($500) and split two ways is $425/each
• Max Utilities with three people is $150/each

Total bills for Jordan and I combined is $1,150.  That split by four (because we're both paid bi-weekly on opposite weeks) is $287.50.

Here is an image from my excel spreadsheet that shows where the monies at in the joint account:

In summary - I think we'll be fine.

It would be nice to have a larger joint cushion, but I think it's building at a pretty stellar rate.  Considering last month we bought a BBQ ($400) and we owed GST (~$200).

WHAT?! Something's not right...

So, I was going to write about my flower garden again - but Southern Alberta is facing another winter storm warning.  I covered my newly planted garden with a tarp and laid heavy rocks (and flower pots) around the edges so it wouldn't fly away.  This will help keep the snow and biting cold from the wind (which is supposed to get up to 80km/hour today) off of them.  Residual heat from the ground will also stay under the tarp, created a sort of greenhouse.

At least, that's what I'm hoping will happen.

It's entirely possible that the wind will get so strong and be long gone by the time I get home.

So, on to the bills.

Enmax: $360.58
includes all utilities: gas, water, electricity, waste water and drainage and waste and recycling.


Whoa! That was my reaction too when I saw the bill online.  I was expecting something closer to $220.  I did some investigative work that included calling Enmax to find out possible reasons why I had a summer bill this high when I've lived in the same place for three years and it's never been that high.  I checked out the electricity meter (which the enamx folks said was where the trouble was), which was hard to find by the way.  The conclusion: the person who reads the meter, did so incorrectly.

On April 9, 2010 they reported that our meter read 38,445 kWh. Jordan and I checked it on April 30, 2010 and the meter reads 38,026. So, Almost a full month later and we still haven’t used as much electricity as the meter reader said we did.


Next months Enmax bill will show our true usage and thus will be next to nothing for electricity usage (as we will have already paid for it).
Shaw: $130.96
We recently changed our Shaw bundle to include home phone, internet and TV.  


This particular bill includes $13.45 in long distance charges and $7.99 from a video rental. The raw cost of our services is $214.80 and we receive $114.50 worth of bill credits each month. That plus taxes is where the $130.96 comes from.

So for this month the total is $491.54 - so we each pay $122.86.
...which really isn't that bad. 

Bi-Weekly Budget & Goodbye to the NSL

Today is a pretty stellar day.

Today My Canada (National) Student Loan Has Been Paid Off!

Okay, so all of my online payments haven't gone through yet, so according to nslcs it's not paid off - but as far as I'm concerned it is.  The balance this morning was $472.97.  My regular $75 payment is due today and I transfered an additional $397.97 first thing.  So, my new balance will be $0.  

Here is my bi-weekly budget:

My pay is only this big because I had an extra 37.50 hours of banked time paid out.  I'm currently planning on putting $400 towards my Christmas Fund and $400 on my visa (to pay off palm springs).  I believe that my horse board will go down to $90 in May, 2010 but I'll be confirming that tonight.  

~i hope you have a fabulous weekend~