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Thread: 2017 Financial Resolutions (post your resolutions & updates) All welcome!!!

  1. #61
    LoveToSave wimbly11's Avatar
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    We're going to discuss it again, but I think she has to agree to the RESP in order for it to work. I have no doubt she plans to make us pay for the majority of university. This is brutal. We had to take $3000 off our Line of Credit last night to pay for the lawyer, which almost had me in tears. I see our financial goals going out the window...

    Quote Originally Posted by jasperandchar View Post
    I don't see how she can refuse the RESP because it's still $ given for their daughter. Have you talked this over with the lawyer? I'm curious how she can dictate the amount of $ needed/wanted as an increase and then say no to an RESP ask it's still financial support. My assumption is the reason why she is saying no is because when the time comes for College/university she will stick you and your dh with the whole bill and not 1/2.

    Sorry for all the questions AND I'm extremely sad to hear their daughter no longer visits that's sad.
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  2. #62
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    Quote Originally Posted by Frugalbigmama View Post
    Update for end of month.

    553 Airmiles (Received a 50 airmiles bonus from Airmilesshops.ca for some reason)
    573,084 PC pts #1 (Bonus of 5000 PC PTS added to my account for some reason "MasterCard"
    18,575 PC pts #2
    229,264 SDM pts (shopped for work and loaded points coupon)
    25.15 CT $ on the card (gassed up- used GC purchased for less)
    $20 + CT paper money

    $273.75 moved forward for groceries. Happy to have a good balance moved forward. Should have it a little higher next month too since I plan to just buy fresh stuff and use pile of change in my purse

    $51.28 Credit on a credit card I don't use on a regular basis. I'm building the credit for a Costco shopping spree

    Have been good trying to use up our freezer stuff and not buying more. Haven't been cooking many big meals this past week so will get back at it this week and hope to see more room in the freezer.
    Mid-month update:

    559 Airmiles ($50 at Foodland/Metro)
    587,515 PC plus #1 ($587.00)
    39,285 PC plus #2 ($39.00)
    229,340 SDM ($400)
    27.15 CT $ on the card
    $20+ Paper CT $

    $198.44 moved forward for groceries (spent more then I thought but I did take from grocery $ for other things to balance the budget. I also still have a Foodland GC with Approx. $100 on it.
    $27.30 Moved forward for Misc.

    Summer hockey camp booked and paid for for DS.

    Credit cards paid in full. CT MC has credit of approx. $65. Building it for a Costco shopping spree.

    Planning ahead for upcoming birthdays- 1 item bought/paid for with a plan with friends.(for my honey)

    Continuing to sell crap and build our summer fun jar. Sold over $100 this past week. Will post a bunch of new items tonight.

    Continue to eat from the deep freeze. Trying not to buy meat etc and using up what we have.

    Cooking once and eat a few times on it. Saves hydro and time. And less chances of grabbing take out because I don't feel like cooking.

    Happy with the progress. But I am itching to redeem some points. So when my PC plus card #2 hits $40 I am doing a little shopping spree! Get it out of my system.

  3. #63
    Canadian Guru jasperandchar's Avatar
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    Quote Originally Posted by wimbly11 View Post
    We're going to discuss it again, but I think she has to agree to the RESP in order for it to work. I have no doubt she plans to make us pay for the majority of university. This is brutal. We had to take $3000 off our Line of Credit last night to pay for the lawyer, which almost had me in tears. I see our financial goals going out the window...
    Atleast if she will agree to a certain amount it's for her future and is a deduction and I believe the government matches payments or something along those lines.

    Can you ask the lawyer to make payments in installments? If not, something to consider should you need him/her again.
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    2019 is the year that we continue to save before we buy!!!

  4. #64
    Canadian Guru jasperandchar's Avatar
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    Quote Originally Posted by Frugalbigmama View Post
    Mid-month update:

    559 Airmiles ($50 at Foodland/Metro)
    587,515 PC plus #1 ($587.00)
    39,285 PC plus #2 ($39.00)
    229,340 SDM ($400)
    27.15 CT $ on the card
    $20+ Paper CT $

    $198.44 moved forward for groceries (spent more then I thought but I did take from grocery $ for other things to balance the budget. I also still have a Foodland GC with Approx. $100 on it.
    $27.30 Moved forward for Misc.

    Summer hockey camp booked and paid for for DS.

    Credit cards paid in full. CT MC has credit of approx. $65. Building it for a Costco shopping spree.

    Planning ahead for upcoming birthdays- 1 item bought/paid for with a plan with friends.(for my honey)

    Continuing to sell crap and build our summer fun jar. Sold over $100 this past week. Will post a bunch of new items tonight.

    Continue to eat from the deep freeze. Trying not to buy meat etc and using up what we have.

    Cooking once and eat a few times on it. Saves hydro and time. And less chances of grabbing take out because I don't feel like cooking.

    Happy with the progress. But I am itching to redeem some points. So when my PC plus card #2 hits $40 I am doing a little shopping spree! Get it out of my system.
    Great job
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    2019 is the year that we continue to save before we buy!!!

  5. #65
    Smart Canuck beckie.c's Avatar
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    February Mid-Month:
    Check Engine light came on this weekend. Took to repair today $311+tax to fix the problem, plus another $900 in things they say "needs to be done"... somethings loose, and some fluids needs changing... Decided to do the $311 repair only and see what my darling brother (apprentice heavy duty mechanic) can do for me about the fluids/something loose. I try to keep $500-$1000 cash on hand for those surprise vehicle repairs/vet visits/insurance deductibles. So I will be using my extra debt payment this pay to rebuild that contingency fund.

    I did manage to get a free oil change out of the deal today, for listening to a 20-minute new car sales pitch. Was pretty painless and saved $50.

    My plan to go on a cash-only budget for groceries has failed miserably. I forgot to take into account that I order groceries online for pick-up twice a month when I have really busy weeks so running to the bank to deposit cash to pay for the online orders messes up the 'correct change' in my grocery jar which drives me nutty. Instead, I picked up a little journal and have devoted a credit card to grocery shopping only, and that is working much better this month and I'm still on track budget wise and the grocery $$ are set aside to pay the CC. Those of you that make a cash-budget work without too much frustration, I really admire your skills.

    Saving up some points for the future:

    PC Accounts:
    55,655
    67,578

    SDM:
    37,070

    I have a ton of decluttering items in my spare bedroom at the moment, so I hope to get some of those items up for sale before the end of the month.

    Hope everyone's February is going well
    Last edited by beckie.c; Wed, Feb 15th, 2017 at 01:42 PM.

  6. #66
    Canadian Guru jasperandchar's Avatar
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    Quote Originally Posted by beckie.c View Post
    February Mid-Month:
    Check Engine light came on this weekend. Took to repair today $311+tax to fix the problem, plus another $900 in things they say "needs to be done"... somethings loose, and some fluids needs changing... Decided to do the $311 repair only and see what my darling brother (apprentice heavy duty mechanic) can do for me about the fluids/something loose. I try to keep $500-$1000 cash on hand for those surprise vehicle repairs/vet visits/insurance deductibles. So I will be using my extra debt payment this pay to rebuild that contingency fund.

    I did manage to get a free oil change out of the deal today, for listening to a 20-minute new car sales pitch. Was pretty painless and saved $50.

    My plan to go on a cash-only budget for groceries has failed miserably. I forgot to take into account that I order groceries online for pick-up twice a month when I have really busy weeks so running to the bank to deposit cash to pay for the online orders messes up the 'correct change' in my grocery jar which drives me nutty. Instead, I picked up a little journal and have devoted a credit card to grocery shopping only, and that is working much better this month and I'm still on track budget wise and the grocery $$ are set aside to pay the CC. Those of you that make a cash-budget work without too much frustration, I really admire your skills.

    Saving up some points for the future:

    PC Accounts:
    55,655
    67,578

    SDM:
    37,070

    I have a ton of decluttering items in my spare bedroom at the moment, so I hope to get some of those items up for sale before the end of the month.

    Hope everyone's February is going well
    Great job, I can't make the cash jars work so I have different accounts with allotted funds and I transfer the amounts as I shop etc.

    Many times garages take advantage of women (not nice to say) but I'm sure your brother will be able to help you out.
    wimbly11 likes this.
    2019 is the year that we continue to save before we buy!!!

  7. #67
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    Transferring $100 into DS's Grade 8 trip & grad fund
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  8. #68
    Canadian Guru jasperandchar's Avatar
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    Quote Originally Posted by jasperandchar View Post
    My 2017 Financial Resolutions are

    1. Continue to save up PC plus points, sdm points, leger web survery $ and swagbucks for Christmas.
    IN 2016 we had $880 in pc points, 3x 95K redemptions & 1x 50K at sdm, $40 in legerweb surveys

    Update Feb. 10th/2017 - we have enough for
    1x 95K redemption

    2. Continue to meal plan and take meat out the night before.

    3. Continue to price match and use as many coupons as possible.

    4. Purchase a 2nd vehicle. (see #5) - DONE (January 11, 2017)

    5. January through June put all of dh's pays aside to rebuild bank account(s) after purchasing Vehicle
    Feb. 10/2017 we have repaid 2 out of the 4 accounts we borrowed from
    Feb. 23/2017 transfer dh's pay to repay $ borrowed for car.


    6. Continue to save before we buy, it makes such a difference and makes us accountable for our spending and future goals

    7. Put in new powder room downstairs

    8. Set up a new account for family vacation (smaller trip in 2017 and hopefully a larger (winter getaway in 2018) - Put all medical/dental reimbursements into this account going forward as savings
    Feb. 10, 2017 update - we have started putting the reimbursements into a family vacation acct.


    Cottage Goals (after May/June)

    1. Have an electrician do the wiring at the cottage which will be ran off a generator.

    2. Hire someone to close in the cottage, including facia and balcony.

    3. Hire a drywaller for the upstairs loft at the cottage and have laminate flooring installed (flooring is already purchased)

    4. Continue to post items for sale and tuck the funds away for designated project

    5. Build a main entry way (enclosed) at the cottage.
    __________________


    UPDATED Feb 23/2017
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    2019 is the year that we continue to save before we buy!!!

  9. #69
    Canadian Guru jasperandchar's Avatar
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    Dh & I will be doing our March budget this weekend, I'm going to allot $25 for Easter goodies for the kids. Easter is April 16th this year.
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    2019 is the year that we continue to save before we buy!!!

  10. #70
    Canadian Genius lilo0003's Avatar
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    Quote Originally Posted by jasperandchar View Post
    Dh & I will be doing our March budget this weekend, I'm going to allot $25 for Easter goodies for the kids. Easter is April 16th this year.
    lol, I turn 50 on April 16th. I guess a family dinner is a sure thing.
    I realized we forgot to budget for DS1's driving school, its not cheap but its needed. I have not been changed yet so if I am lucky it will not hit the credit card until next month.
    Friends don't let real friends pay full price.

  11. #71
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    Yes Lilo driving school is expensive-we just got the insurance bill to add DD-age 17- and it will be about $100 a month. I am thinking a teen boy would cost more-good grief. I sure find the year they do driving school, get their insurance and apply to universities is pricy!!

  12. #72
    LoveToSave wimbly11's Avatar
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    We have an appointment with the bank today. Finally starting our RRSP. I've been setting money aside and we just never took the time to set it up. I will hopefully be working from home in a few years and DH does not have a pension so this is important for us, plus it will help tax time.

    A small accomplishment among the crap we've been dealing with lately lol
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  13. #73
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    Wimbly- even cashed in part of my RRSP to help fund my first mat leave-essentially I transferred money from a full income year to a little income year( in my case I was off for a full calendar year Jan-Dec so the difference was more dramatic)-also this was back when EI was only paid for 15 weeks so it was a much lower income year and so was taxed less on the cash in. Gotta love legal ways to move income from a higher income year to a lower one! With your baby being due in the summer and you likely receiving EI for a year YMMV.
    Last edited by lizzie bargain; Fri, Feb 24th, 2017 at 09:52 AM.

  14. #74
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    Also W I think your employer will tax you currently as if you are earning that amount all year-presumably the second half of the year will be lower income if you are collecting EI. Hopefully this will mean a bigger tax refund for you next spring.

  15. #75
    Canadian Genius lilo0003's Avatar
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    no such luck, the driving school just so up on the CC statement for this month. Such is life.
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