September 2018 Goals

How the fuck is it September already? Where did summer go? My goals have been boring AF lately. Of course I want to pay off the elopement debt, workout and have no spend days but how am I challenging myself every month? I think I’ll start with purging things I don’t need or use. I regularly do this but I need to be brutally honest with myself with some items.

  • pay off elopement debt
  • workout 20 times
  • 18 no spend days
  • no holds barred purging of crap I don’t need in my condo
  • think of new, challenging goals for next month
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August 2018 Goals Review

I can’t believe it’s the end of August already. I’ve been thinking about how fast time flies lately and want to cherish every moment. Having said that, the lingering debt we have from our elopement is bugging me. I need that gone ASAP.

  • pay off expenses from elopement FAIL! But I transferred it to a 1.99% credit card
  • 12 no spend days Pass! I had 14 no spend days
  • 18 days working out FAIL! Wasn’t expecting to fail this one. I worked several part-time job shifts and was feeling unwell towards the end of the month.
  • sell my BBQ. We have two and have no reason to keep two Sold! Yay!
  • make $250 from my part-time job FAIL! I had to cancel a shift because I felt a cold coming on.

August 2018 Goals

I can’t believe it’s August already. I’ve been thinking about how fast time flies lately and want to cherish every moment. Having said that, the lingering debt we have from our elopement is bugging me. I need that gone ASAP.

  • pay off expenses from elopement
  • 12 no spend days
  • 18 days working out
  • sell my BBQ. We have two and have no reason to keep two
  • make $250 from my part-time job

July 2018 Goals

  • We got married last week and I went into a wee bit of debt after becoming debt free. My goal is to clear this debt.
  • Continue intermittent fasting (16/8) 6 days a week. This method has helped me lose some belly weight.
  • Purge closet again. I feel I have too much clothing again although my husband says I don’t at all.
  • Get rid of uncomfortable shoes. I was going to wear these sexy, gold heels to dinner after we got married but my feet said NOPE! I decided then and there that I am finished with uncomfortable shoes.
  • Work out 20 days of the month
  • 15 no spend days

June 2018 Goals Review

  • Pay off remaining consumer debt and finally be debt free! Pass!
  • Workout 20 times Fail! I worked out 16 times
  • 15 no spend days Fail! I had 12 no spend days but I did get married last week so was extra spendy
  • Contact my mortgage broker to renew mortgage. I can’t wait for this because my credit score is finally decent! Pass! My mortgage was approved and I have to set up an appointment to sign my mortgage commitment
  • Figure out how much to allocate towards RRSP and savings. I have no fucking clue what to do with this extra money I’ll be saving every month. Do I aim for early retirement or aggressively save for a house down payment? Or balance both? Pass! I settled on $500/month for RRSP and will hold the extra cash to “feel rich” then dump it into RRSPs whenever I see fit

I’m finally consumer DEBT FREE & can now save 50% of my income but still feel poor!

I became consumer debt free last Friday due to it being a three paycheque month (I get paid bi-weekly). While I am absolutely ecstatic, I still feel poor. I still feel like I am in debt and need to be in austerity mode. I think it is due to being in debt for about 10 years. This is something I know I need to work on.

Now that I am consumer debt free (still have my pesky mortgage so not completely debt free), I can allocate half of my paycheque to savings which is about $2,100 per month. One thing I’m struggling with is how much to save for retirement and savings (house down payment, TFSA, etc.). I don’t get a company pension anymore or RRSP matching so this is all up to me. I read articles saying you should save 10% of gross income and other articles that say 10% of net income. Can you see why I was confused as to what to do?

I was planning on saving $1000/month for RRSPs to aim for early retirement at 55 but then I realized I am now part of a team. I will soon have a husband to help out with retirement savings and I also have CPP and OAS benefits to rely on in retirement. So I’ve decided to halve that amount to $500/month for now and see what happens. Part of me worries if I don’t put $1000/month away for retirement that I’ll end up spending the money.  I’ve been obsessively plugging in numbers for different scenarios on the Canadian Retirement Income Calculator and $500/month seems like a good place to start for now given that I have under $100K in my RRSP/LIRA already.

What am I going to do with the rest of my money? I’ve decided to start paying back my family. While I am consumer debt free, I am not technically debt free. I still owe them for lending me money to make stupid decisions with The Ex. My plan was to give them the proceeds from the sale of my condo but I won’t be selling for 3-4 years. In the meantime, I’ll be paying them $500/month. I’ll be saving the remaining $1100/month in a high interest savings account such as EQ Bank. I can always give my family or RRSP a lump sum payment whenever I feel comfortable.

These saving streams are just new “payments” to me and that’s why I still feel poor. Don’t get me wrong. I am extremely happy to be in this situation now. I have never had an opportunity to save this much money before and it’s all new to me. I am so excited to learn so much more and am looking forward to what the future holds!

June 2018 Goals

This month is exciting for me because I’m getting married at the end of the month. It’s also the month where I will finally be consumer debt free since it’s a three paycheque month! I thought this day would never come! Now onto this month’s goals:

  • Pay off remaining consumer debt and finally be debt free!
  • Workout 20 times
  • 15 no spend days
  • Contact my mortgage broker to renew mortgage. I can’t wait for this because my credit score is finally decent!
  • Figure out how much to allocate towards RRSP and savings. I have no fucking clue what to do with this extra money I’ll be saving every month. Do I aim for early retirement or aggressively save for a house down payment? Or balance both?