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Archive for October, 2006

Reading up.

October 30th, 2006 at 04:32 pm

I've been reading a text on personal finance that was loaned to me by a friend of the family (finance instructor at a local college). Good read, nothing really groundbreaking. I noticed that the "case study people" had to allocate much less of their income to rent. Their rent allocation was around $850 in most case studies (Canadian dollars, printed 2005), where as my rent is a whopping $1120! I suppose that's neither here nor there.

Oh yeah, and no eating out today. Also, no exorbitant phone usage. Wink

In other financial news, I was checking in on my student loan account and the balance will offcially be down to $6500 as of Tuesday. My goal of having it paid off by summer is really coming together!

Chowing down?!

October 29th, 2006 at 11:51 pm

I'm looking at my dining out habits in writing and it is making me realize a) how much we spend and b) how much of a social role food plays in our lives. Interesting.

Friday: $20 for lunch at TGIFridays with a friend (me)
Saturday: $10 Whitespot burger (DH)
Sunday: $40 pub dinner with friends (both)

phone usage: no chatting outside the hours (that KEELS me!)

Let's try to bring that down this week!!!

A little project for my blog.

October 27th, 2006 at 02:21 am

The need to tighten up our budget has become very clear in recent weeks - I broke my foot and will be off for two months before returning to work!

I am reasonably assured that hubby and I are not too extravagent in the "variable expenses" department, but we definitely do have to curb our phone usage and eating out. I am going to track my "progress" in these areas for a little extra visual motivation.

Phone usage: 2 hours
Eating out: none

Overall Financial Footprint:

STUDENT LOAN DEBT: $8000/paying off at a rate of $500 monthly (%8.5)
CREDIT CARD DEBT: $2000/paying more than the minimum, roughly $200 monthly (%18.5)

Hubby is another story:

2 lines of credit owing a total of $18,000 at %13 interest.

Outstanding amount on vehicle of $10,000.

A total of 38K between us!!!

I really want to have my cc and student loan debt paid by August 2007.

The car debt will remain for another two years, but I hope to have hubby's combined debt also down to 10K by August 2007. I think we can do it.

Baby steps...

October 3rd, 2006 at 02:20 am

We made a big step today as couple.

We actually made an appointment at my husband's bank to get things "straightened out." I got an account at that bank and we started a joint account.

After we got home, I realized that hubby should probably have his line of credit account removed from his easy access card.

Will keep you posted on our subsequent visits and hopeful triumphs. Big Grin

P.S. We actually received a cheque in the mail for hubby's position on the union board - gotta love those mail days!