I thought it would be curious to start posting my income and expenses, on a monthly basis, both as a point of reference for you readers and as a way for me to publicly keep my shit in line…as best I can.
I’m a little late to the game this month. I’m adjusting to my new job and the 44 hours a week that come along with it, huzzah!
October was a freakishly stellar month, for more than one reason.
INCOME
Paychecks: $2373.69
Tips: $25.85
Other: $165.85 (This includes some cash from a gig I played, a Government tax rebate cheque, as well as income I earned online through Clickworker.com.)
Interest/Dividends: $88.31
Total: $2653.70
EXPENSES
Food
Juice for Booze: $4.59 (this is the “Cider Fund” for our delicious Frugal Home Brew!)
Coffee/Snacks: $62.45
Groceries: $100.04
Booze: $147.94
Fast Food/Restaurants: $28.23
Bills
Cell Phone: $57.25
Rent: $86.25
Tenant Insurance: $9.35
Internet: $62.09
Gifts
$0
Transportation
Taxi Rides: $7
Bike Maintenance: $5.02
Public Transit: $8.25
Gas: $10.01
Home Supplies and Maintenance
Laundry: $12
Entertainment: $0
Kitchen/Bathroom supplies: $48.39
Clothing: $0
Miscellaneous
Music Equipment: $5.87
Total: $654.73
INVESTMENTS
Questrade TFSA Deposits: $1784.15
Scotiabank TFSA Deposits: $7.83
I can’t say I feel bad seeing almost $1800 finding it’s way into my Questrade account. Knowing that the money I’m saving and investing right now will someday, in the not to distant future, produce enough monthly/quarterly dividends to cover all my expenses is starting to feel pretty damn good.
Speaking of expenses, where’s my “rent” payment, right!? Well, turns out the landlord and property management company that runs our building made a tiny boo-boo and to iron everything out they gave us a break on October’s rent. I’ll take it!
Now my “Paychecks” income is so much higher this month because of two reasons.
1. I started a new position in October that comes with both full time hours and a $1.50/hour wage increase. That’s a raise of about 14% for this guy. If a 30 cent raise is a reason to celebrate, you’d be right in assuming that I’m stoked.
2. A couple years ago I worked for a recording studio in Montreal. A beautiful facility. I worked with a lot of awesome people, and even a couple celebrities; ooh la la. The owner, however, was sort of a jerk and never paid me for the hours I put into the place. In the end I did have some proof, via emails and Studio Session Log Books, that proved I was owed for a handful of recording sessions but it took over two years to push it through the Small Claims Court system. It was worth it though, and I’ll bank the $700 and use it to purchase more low cost Index Funds. Plus, people shouldn’t get away with taking advantage of a dedicated employee.
The beginning is always slow, but as I keep chuggin’ away and investing a few hundred bucks a month into investments I start to feel more and more confident. I mean, it’s only been about a year since I started investing small chunks of cash and I’ve already got to the point where I’m earning $30/month from the dividends. That may sound like a small number, but that’s almost enough to cover my monthly phone bill. So, to relate, imagine all your bills written out on a monthly budget and you’re staring at them, going down the list. Now, you get to cross one of those off the list…forever. NEVER again do you think about paying that bill every month. It’s gone, FOREVER. You’re winning.
How do my income/expenses compare to yours? Any tips and tricks you care to share?
The FI Guy 