Happy Financial Literacy Month, Canadian friends! Not that everyone can’t celebrate it, but I know it’s recognized in different months around the world. I’ve been anxiously waiting for this month to arrive, so we can finally talk about a few of the financial decisions on my plate. Since the year is almost up, I really want to get these items crossed off my to-do list as soon as possible, so I can start 2015 off right.
Besides that, I’m excited to be hosting four giveaways this month! Come back every Friday to see what’s up for grabs. But first, let’s see how my budget looks…
Life Expenses – Goal: 60%
I’m happy to say I’ll be home for all but three days this month! Surprisingly, my numbers still look fairly average ($250 for groceries, $75 for restaurant, etc.). I did, however, give myself an extra budget for “insurance”. By the end of the month, I’d like to finish comparison shopping and finally buy life/critical illness insurance. I also want to upgrade my disability insurance, and I need to renew my tenant insurance. I have no idea how much this will all add up to, so I put my max budget in my budget template and will aim for it to be lower than that.
Overall, I really want to get this section down to 50-55%, but it can’t happen this month for one big reason: Christmas. Every year, my goal is to get my shopping done by December 1st. I don’t know if I’ll be able to make that happen this month, as I don’t know what I’m going to buy anyone yet… but we’ll see!
Car Maintenance – Goal: 18%
The other thing I want to do while I’m home this month is get new tires put on my car. My car is almost 6 years old and has 60,000 km on it, and the tread on its stock tires is getting low. I researched prices last month and finally submitted a quote, so this could happen as early as tomorrow. Eek!
Travel – Goal: 4%
A few weeks ago, I was asked to speak on a panel at Credit Education Week in Toronto. I’m flying out on the 11th, the panel is on the 12th, I’ll work at RateHub.ca on the 13th and then fly back that night. Since it’s such a short trip and most of it’s paid for, I’m just budgeting for transportation and food.
Savings – Goal: 18%
Finally, next payday, I’m going to finish topping up my Emergency Fund! After that, I’ll just put more money into my RRSPs. And then I guess I’ll need a new savings goal!? Hmm! I do have something fun in mind for 2015… but we’ll have to see what the next couple of months look like, first.
In honour of FLM, my goals this month are to:
- Speak on a panel at Credit Education Week in Toronto next week
- Top up my Emergency Fund
- Research/update/buy all insurance policies
- Pay to get new tires put on my car
- Get annual copy of my credit report/credit score
And then I’ll try to workout 15x and read 2 books, as per usual!
What do you have planned for this month?