Friday, January 1, 2010

2010 Monthly Budget

I've finally finished my 2010 Monthly Budget.

First, we have the breakdown of my monthly income, this is for months with only 2 pays.




In our household, my bf Jeff pays the mortgage, and I pay all of the bills. Every 2 weeks I transfer him my half for the mortgage. Every 2 weeks he transfers me $180 to cover his half of the bills. He also pays for half the groceries and dog food. In december I got an incrimental raise at work, I have yet to figure out what the actual dollar amount of it is though since at that time I had also capped out my EI & CPP. I made this budget based on my old salary and anything above that will get transferred to my TFSA.

I do have quite a bit of money left over which is good. I originally didn't set up a Clothing category as I currently use the money is my slush fund for that, I have more than enough clothes as it is already, I don't want to encourage myself to purchase any more.

I'm thinking about setting up a running category to pay for running clothes, shoes, race fees and such.

My bank account is currently set up so that everytime I pay for something via ineract $0.50 gets transferred into my TFSA so I need to keep about $20 flexible for that, but I think I'm going to look into paying extra towards the mortgage.

I'm going to try this out as is for a couple of months and see how it goes. I may have forgotten something but this is basically the same budget I started using last year so I think I'm on track. And if anything, I'm trying to cut my expenses and bills, not increase them!

At then end of the month I'll recap with actuals and see how well I did.

1 comment:

  1. Looks like you've got a well planned out system for you and your boyfriend. That simplifies things so much.

    Like you, I capped out my EI and CPP so I won't reallllly know how much my raise of last year will net me, until the end of January pay.

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