Journal Update #7: May 2013

Here is my financial snapshot as of May 31st, 2013:

Current Savings: $24,319.23

Current Savings Rate: 49.62%

 

Journal May 2013

 

Category This Month Average
Rent 660.00 351.84
Utilities 0.00 15.00
Internet 0.00 0.00
Household Items 238.12 303.36
Groceries 839.53 401.75
Eating Out 111.87 13.95
Recreational 422.25 521.33
Transportation 940.53 314.80
Entertainment 33.90 17.08
Animal Friends 133.37 46.94
Cell Phone 11.30 24.01
Gifts 176.46 103.27
Other 0.00 67.93
Expenses 3,567.33 1,899.19
Evertz 2,628.83 2,796.44
Freelancing 645.30 267.56
Other 0.00 513.66
Income 3,274.13 3,769.90
Savings -293.20 1,870.71
% Spent 108.96% 58.11%
% Saved -8.96% 41.89%

 

Total Income $49,008.69
Total Savings $24,319.23
Total % Spent 50.38%
Total % Saved 49.62%


 

Last month’s expenses weren’t high enough, so I had to beat it out of the water this month! Oh, I was supposed to get it lower? Oops!

I think I should close down this blog – these numbers sure seem to show that I’m not living with my brain. πŸ˜›

It crept so high, and I am shocked that groceries hit above $800. Our diet these days is mostly fruits and vegetables these days. We stocked up on veggie bouillon that was on sale, and bought about $50 of frozen organic fruit near the end of the month that will roll into June. We hosted a house-warming party where I spent about $100 on ingredients for some baked goods made by my girlfriend. We still have lots of leftover ingredients though. So hopefully this food will roll into June. We aim to spend less than $350 on groceries in June. In general, I feel like we don’t buy processed food and buy lots of fruits, veggies, beans, rice, quinoa…and our expenses should be much lower. I will find and fix the leak soon enough. I would be much more upset if I felt we were skimping on healthy food to save money, but health is a priority.

I am completely unsatisfied at this expense level. I’m not going to beat myself up over it, but I will do my best to get it down within the next couple of months. The transition period is hard to control as we are still getting into routines.

One of the reasons I don’t feel too horrible about the high spending is because we bought two bikes off Kijiji! Mine for $250 (Giant Rincon), and my girlfriend’s (Norco Scrambler) for $340. That is $590 and a big chunk of this month’s expenses that we will not be seeing again. In addition to that, bike accessories (and a new rear derailleur to replace one that broke) helped us spend nearly another $250. We each have a u-lock + cable lock combo, and I also purchased an air pump, tire tubes, tire levers and Allen keys. We are still looking for helmets.

My rent is high because I received an unpaid rent notice at my door (for rent I paid). The date the notice said I had to pay was before my landlord returned from a vacation. Pretty silly. I called, left a message, but we paid it just in case. We have the cash, and didn’t want the blemish. About two weeks later we heard from her – all is good and we’ve received a credit for the overpayment. So there will be no rent payment next month. EDIT: I just moved the rent payment to June to keep my tracking more standard/consistent.

The biggest, and most exciting thing in May happened on the last day. I have quit my internship at Evertz! The end of May marks the end of my time at Evertz. I have quit in order to join micro company of essentially one person. I am working on a cloud based virtual pbx and the potential is great – but there is a risk of failing. I’m taking my chances with this one! I hope I see success here as that will accelerate my financial independence plans! The job has much better terms, and a better employer. I get to work from home, for one πŸ™‚ and he is going to be providing us with an internet connection free of charge. I’m sure you’ll hear more about this soon!

Other than that, May has been relatively uneventful. My girl and I have set a goal of reducing our expenses to $1750/month of which I will contribute $1100/mo and my girlfriend will contribute $650/month. We will both try to make twice our contributions, at a minimum, to save a minimum of 50%. So I need to bring in $2200/mo and my girl needs to bring in $1300/mo. At this point we may set more aggressive goals, but we have some work to do first!