New Years Financial Resolution (post your resolution & updates)

[macw1960]

My financial situation is finally looking better. My daycare is now full for September. I will be watching 6 school age children (thanks to new daycare legislation starting Aug 31st licensed providers in Ontario will be allowed to watch 6 children instead of 5).

My goals for the next 4 months will continue to be:

1) Do not incur any new debt - if we don't have the money we don't buy it or do it. We are not spenders and we live within our means as far as clothes, furniture etc goes... Our problem always been large expenses (like vehicles and home renos/repairs) that we impulse buy instead of planning and saving. To counter this problem I've set up various savings accounts (see #3).

I've had some unplanned expenses come up but I've managed to come up with some extra money to cover it. I finally sold my triple stroller that I no longer need for $150 and I also picked up some extra daycare income for the month of August ($700).

2) Stick to budget for all categories

I've not been able to stay on budget for gas or groceries this summer but the extra daycare income and DH's extra paycheque in July has covered this.

3) Continue to fund accounts for various expenses: car repairs, vet bills, vacations, sports for girls.

Sports and vacations have been paid for for the rest of the year. Will start saving for 2016 in October

4) Continue saving 15% of my daycare income every month for 2015 income tax and CPP instead of waiting to figure out how to pay it come income tax time.

5) Make $100 per month contributions to my RRSP

6) Budget down to 0 every month putting every last extra cent to debt repayment (after bill payments and sub account deposits)

I've paid off $5657.54 off the principle so far. Another $44342.46 to go...

Super planning!!!

[Frugalbigmama]

Getting back in selling mode tonight! Vacation days have a way of motivating you to stay up late and get stuff done! So continuing with the plan, move stuff out and only bring necessities in! Will re-draft the honey do list for the simple little things that need to be done but don't require and $ spent (touch up paint/ put in heater vents/put up pics etc)

[Frugalbigmama]

Using what we have. I have wanted new curtains. Well the locker we bid on and won had tons. Got my honey to help me put them up in the kitchen and Family room. I love them!! Payday is coming up so cleaned up the budget. Paid off the M/C (I always do) Have a healthy $135.00 to push forward for Misc. (Saving it up for paint etc for house projects this winter including the basement It will be for the family not just the teen when I'm done with it ) Will wait till Monday before I see how much I'm moving forward for groceries. Have stuff I want to buy this weekend. But have a feeling the next 2 weeks I won't be buying much which will be great. I have already stocked up on back to school snacks etc.

[Frugalbigmama]

Purchased a $300 TFSA GIC today- 5 yrs at 1.9%. Sucks but better then sitting in account making nothing and better then me spending it Hate that summer is over but glad to get back into the school routine. Will revise my "to do" list and start getting at it even though we have a busy next few weeks with both kids. Keeps me young running around I guess. But #1 thing that needs to be done this weekend is clean out the garage so I can park back in there. So that is my plan Saturday!

[jasperandchar]

DH was borrowing FIL's wood planer and well it died
so we asked FIL if he wanted $ or a new planer, he said $ so that came out of our September budget. Home Depot has a RIDGID wood planer on a promo this week don't pay for 18 months so we have agreed to purchase the planner and allot $100 per month so it should be paid in February out of reg. monthly budget.

I don't want to take the funds out of the reno account as we can afford the $100 per month for the new planer, however, as I mentioned to dh we need to have the electrician come back this fall/winter to finish hooking a few things on. Presently the breaker for the soon to be powder room is not on and/or connected and some plugs in basement don't work are not connected which is frustrating AND since electricians are not cheap I would rather hold off spending the reno account funds unless it's on actual renos and not tools.

Once the planer is purchased we can continue on planning the boards which are sawn on our sawmill to appropriate thicknesses and finish the shed floor. It would also be great to put a door of some sort on the shed to keep the floor dry and the snow out.


That's all for now

[saundyl]

-pay off the last 6000 on my business loan.
-put the 1000 into my rrsp
-no new debt
-do the 52 week savings challenge again for Christmas money.

I soooo oo failed on the no new debt section as I financed my flex.

The business loans final payment us sept 15th!

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[Frugalbigmama]

Cleaning up the budget! Moved forward $61.01 for Groceries and $215.65 for Misc. I need to stop buying groceries! We are so stocked up it is crazy. I really need to plan meals using up what we have and only buy fresh stuff. I shouldn't need anything but fruit and cucumbers for my cucumber monster since I bought milk, eggs and bread yesterday. I do want to buy a few reduced fresh turkeys for the freezer.
I need to re-write the "to do" list. I have 2 lists. 1 is the stuff to get done but have the supplies/no money needed. Then the other list needs supplies. Hope to get a few things done this weekend so I can scratch them off the list.

[jasperandchar]

We are 1/2 way through the payments of the new planer, no interest for 18 months but it's only been 2 months, $100 per month and come January it will be paid in full.

Items for sale are not moving but that seems to be the norm on the local facebook pages, oh well such is life.

We will be starting to complete some ongoing projects come November as we have the items needed to do so which means no expenses (dare I say it).

Other than the usual everyday purchases we are on budget and on schedule so far with this years financial resolutions.

[Frugalbigmama]

Purchasing the paint today for the basement reno!!!! Way cheaper then I expected so my misc. $ will cover it without depleting it. Then I still have the next few months to let the misc. build for other purchases for basement. Want to get décor and maybe change up the furniture but will see what I find.

[Frugalbigmama]

Cleaned up the budget today since payday is this weekend. Put $79 on Hydro bill (extra $) to make me smile when I get the bill next month (hopefully with a credit). Have approx. $117 for groceries to carry over and $225 MISC. (being saved for basement reno- Already bought 6 cans of paint )))) Hoping to get DS to go through dvds etc down there so we can have it all cleaned up before we start painting after Christmas. Going to try and not grocery shop this weekend and use up what we have. Both freezers are full and don't want to be wasting stuff. Really gotta get on the meal planning again!

[saundyl]

Spent a couple hours tonight figuring possibly what my new psy cheques will be. Totalling bfs fixed expenses and figuring out if the savings I've put aside in the resolutions...will be enough to cover things.

Ill have to make 2016 new years resolutions soon!

Last years resolutions encouraged me and this gasmade me glad i set money aside.

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[Frugalbigmama]

I just cleaned up my budget today (payday). Sitting pretty and put money where it was suppose to go (into savings). Had carry over of over $200 for misc. and $60 for groceries. Freezers are packed and I can't get another thing in so I am only allowed to purchase fresh stuff and really plan our meals from the freezer. No take out! It has to be used up. So my grocery budget should stay low and have carry over to the new year which will make it a great start to 2016. The only thing I need to buy is winter tires. Other then that I am going to try and not buy anything else for the next while (Christmas gifts excluded- I have a savings account just for that).
I will be off for the 2 weeks at Christmas and really plan on cleaning house/organizing. So that will encourage me not to spend since I will see what we have on hand to use up etc.

[jasperandchar]

Pretty pleased with 2015 and our financial resolutions & planning.

I will make a few more changes coming for 2016 going forward.

[coupon girl]

-I am pretty pleased with 2015 financially too -we were able to rent a cottage in july ,finish our deck which took hubby 3 months to do by himself and we just bought a new garage door which will be paid in full next month on visa
-also to be able to have xmas paid in full on dec 25/125 is just awesome -and this is with only one working in the household -planning is the key sometimes my friends ,being diligent about saving any extra money( we went down to one car) and all the little things in life like coupons ,price matching and all the points programs really do help

[amira84]

This year we didn't really make any financial new year's resolution, for example, doing the 52 week chanllenge etc. But i am thinking about doing it for 2016.
My brother is going to get married in 2016, God willing, so i am thinking about start saving my pocket money instead of keep spending it on make up.
I am also thinking about getting my hubby on board about start saving some money for 2016 black Friday/Boxing day. We absolutely love tons of shopping on black Friday/boxing day.