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Update: October 2012 Budget & Goals

Ok, it’s no wonder I was feeling sick about my last weekly spending report… I haven’t had a budget go this wrong in a long, long time! But that’s why I’m back on track with budgeting and tracking my daily spending: to see where I’m going wrong and fix it. And there’s a couple no brainers here…

First, my personal care budget went over. Not only did I not buy a pair of boots, like I will eventually need to, but I used part of that budget to buy a new MacBook Pro! While I’m happy with that decision, boots still need to be bought (especially if this rain keeps up).

I am not at all surprised that my Victoria budget went over, or Misc./Cash, but I am pretty sickened at the amount I spent on dining out this month. I don’t think I’ve spent more than $75-85 in months… and in my first month in Toronto I decide to spend $220? That’s going to stop in November.

Now, with all of that behind me, the one overage I can’t complain about this month is my debt repayment. $1,240!? That’s 46.4% of the total money that left my hands this month. Love it. And with the debt repayment plan I worked on last weekend, I will definitely be debt-free by June 8th, 2013!

November’s budget will be tight but I’m excited to see what I can squeeze into it. Now let’s see how October’s goals worked out…

Goals for this month:

  • Track my spending and start posting weekly spending reports again – DONE!
  • Look for a book club I can join – FAIL! Well, I know of one I can probably join… but one of November’s goals might put that on hold.
  • Join a gym (probably Goodlife) – FAIL! Oh gosh, I’m scared of what Travis is going to have to say about that…
  • Start counting calories on Lose It! again – DONE! I ate an average of 1,349.5 calories per day and lost some weight. I’m officially down 20.2 lbs!
  • Workout at least 3x per week – FAIL! Epic fail, in fact. I think I worked out a total of 4x this month. But, hey… because I don’t have a car, I’m walking every day. Does that count? Errr…

Happy Halloween! How was your month?

19 Comments Post a comment
  1. Wow, Cait, nice work on the debt re-payment…..being so close to paying off your debt must feel AWESOME!

    Third bullet.

    Hahahaha. I’m just saying, #pfworkout misses you. :)

    October 31, 2012
    • Cait #

      I know… I miss it too. Today I really craved an outdoor run but running at night in the dark scares me! I’ll write a post about my hesitations w/ “joining” a gym but promise to at least go talk to the gym that’s close by this weekend.

      November 1, 2012
  2. Rob #

    Cait, before you go mentally beating yourself up, let’s put a few things in perspective, shall we?

    1 – you moved to Toronto and this is your first monthly budget in a new big city
    2 – you went back home for your convocation and to celebrate. You don’t do that every month, eh?
    3 – you over contributed $240 on your budget debt loan repayment. That almost equals the amount that you over spent on all your other expenses.

    So, if you had not over contributed on your debt loan repayment (as compared to what you had allocated in your budget for that line item) then your overall October budget vs actual expenses would have almost been dead on – give or take $40 :-)

    Not too shabby a start for living here in TO, if you ask me.

    Happy Halloween! My month went according to plan. Retired last Friday. Birthday is today (yep, the devil made me do it – lol) and – we dodged the “Sandy superstorm bullet here. So for us both – all is good. Count on it.

    October 31, 2012
    • Cait #

      Happy birthday and retirement, Rob! What fantastic news. How are you celebrating? What do you want to do with your spare time? And thank you for putting some things into perspective here. I’m thrilled with my debt repayment progress more than anything else.

      November 1, 2012
      • Rob #

        Since retiring I’ve been way too busy to have much “spare time”, Cait. :-)
        I guess there will be no “rocking chair” retirement for moi !!!

        I must say that I am very impressed with your passion to get totally debt-free. It would be great if everyone had your determination and drive. Before you know it, one day you WILL be totally debt free. After that goal is met then your challenge will be how to become a good investor – to make your money work hard for you and to grow over time. To achieve eventual financial security it is investment income, rather than just salary income, that becomes critical.

        November 1, 2012
        • Cait #

          Absolutely. I want to make some smaller savings goals first (so I have an emergency fund, should I ever need it) but then I want to learn a lot more about investing for my future retirement. I’ve made a great contact w/ a former editor at the Financial Post who has offered to share his 16+ years of wisdom, which I’ll probably take him up on. Then I’ll do some more reading and find someone I can hopefully work with (unless I trust myself to do the work, haha).

          November 2, 2012
  3. We all have weeks like this. In fact, I think it’s actually good to have a week like this from time to time because it encourages you to get back into shape for the rest of the month. :) It sounds like you are really enjoying your time in Toronoto! I’m glad. I was actually thinking about asking you how it was going this morning. You already have friends there, which is great. Anytime I’ve moved to a new place it’s always a little lonely in the beginning while I go about making friends, so I’m really glad to see you are settling in nicely!
    xo
    Cat @ BudgetBlonde

    October 31, 2012
    • Cait #

      Aww, thanks Cat! Things are going really well here, so far. Job is great, which is the reason I came, so that’s what’s most important right? But it’s nice having some friends too. Hope you’re doing well too! xo

      November 1, 2012
  4. You’ve done well with the debt repayment in October and you must be excited about becoming debt free in a few short months.

    We all have times where we overspend but the fact that you’re tracking it will help you to reign in the spending going forward. I’m sure you had a great time in Victoria so don’t beat yourself up about it.

    October 31, 2012
    • Cait #

      It’s not going to be easy to pay it off by June… shopping and eating out will be rarities, for sure. But it’ll be worth it to reach the point where I have an extra $800-900/m that’s all mine (for saving, of course). And I did have a great time in Victoria. Thanks for your comment!

      November 1, 2012
  5. Let me be the first to apologize for contributing to your over-spending in the restaurant category – but it was so great to get out for lunch with you! And otherwise you are doing a pretty darn good job.

    October 31, 2012
    • Cait #

      Haha, I don’t regret a single meal, Sue… those waffles were worth it! But thank you for your comment :)

      November 1, 2012
  6. Mochi and Macarons #

    Er… Am I missing the line where you bought the MacBook Pro?

    October 31, 2012
    • Cait #

      Partially-funded by grad gift money. :)

      November 1, 2012
  7. 20 pounds is awesome! Congrats!

    October 31, 2012
    • Cait #

      Thanks, lady!

      November 1, 2012
  8. I wouldn’t worry so much about going over for the month as long as it’s not every month. You are doing an awesome job even if just tracking your expenses and budgeting which many people could care less to do. You are well on your way, just keep focused on your monthly goals and you will get there. I haven’t posted my October Budget Update yet but it will be out next week. We went over in a few categories as well.. but we will make it better in November. Happy Halloween!! Mr.CBB

    October 31, 2012
    • Cait #

      It does feel good to be doing my weekly spending reports again (even though I’m sure most people find them boring). Staying on track is the only way to accomplish most goals in life. Runners run. Budgeters budget. ;)

      November 1, 2012

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