REMEMBER: You can download this budget template!
Entering the last month of Q1 2014, I know I’m seriously off-track with my savings goals already. With that being said, I also anticipate February through April to be the most expensive months of the year, so I’m confident I’ll be able to scrimp and save more later. This month, I plan to put $100 in my Emergency Fund, and I already received my tax refund, which I immediately put into my RRSP.
So, where is the rest of my money going this month? Mostly to travel plans! On the 14th, I’m leaving home for a little over 3 weeks, and being away for that long affects most of the numbers in my budget. I’m giving myself generous budgets for my trips to the Dominican and Toronto, because I’d much rather come under budget than go over. And the Victoria budget paid for my trip back last weekend, and covers my trip over on the 14th (where I’ll leave my car while I’m travelling).
My housing expenses are normal. I adjusted my food budgets, keeping in mind that I’m only home for 13 days of the month. I did the same with my transportation costs, but added an oil change, which I got last weekend. And health care expenses would be normal, except that I have to pay for last month’s visit to the dentist (which I called in and paid for over the phone on Monday).
As for “my money”, I’m thinking about purchasing a rechargeable electric toothbrush. I don’t know that it’ll happen this month, but I figured I’d budget for it just in case. I’m also on the hunt for some cheap dresses for the Dominican! I haven’t been on the beach in 30°C weather since December 2010, and I’ve lost 30 lbs. since then… some new (cheap) vacation attire is essential.
As it stands, I plan to save 14.5% of my income (in long-term savings), spend 33% on housing, 6% on food, 7% on health care, 9.5% on transportation, 20.5% on travel, 7.5% on myself and 2% on charity. All things considering, this budget excites me! Mostly because I can’t believe I’ll be on the beach in 2 weeks… and then in the cold (Toronto) after… brrrr!
Goals for this month:
- Hangout / attend a public speaking workshop with my mentee
- Tackle edits to the writing project I was working on in January
- Bring my bridesmaid dress in for alterations
- Rent a paddle board / soak up some sun in the Dominican
- Squeeze in as many visits / meetings as I can in Toronto <3
What do you have planned for this month?