Monday, January 24, 2011

On to Trenton, ON

I was very grateful to receive the above cheque from my insurance company today which was the deductible owed to me from my daughter's car accident in October:)

I made the following disbursements:
Line of Credit - $40.00 because I like nice round numbers
Emergency Fund - $$468.02

I know those two amounts don't add up to exactly $500 but I contributed a little from my misc spending in order to have a nice round number in my EF - which now stands proudly at $1300!!!!! Woo hoo! At $200 per month I'll have $2000 by mid-May. I am so excited!!

Now to come back down to earth. My goal in No Spend February is to stay on budget. Sounds rather lacklustre doesn't it? I've had to reduce savings, groceries, gas $ and misc spending in order to maintain zero budgeting due to having lower income in February. One thing I won't reduce is the $1200 payment to my line of credit (broken into 2 payments of $600.00 each), my monthly $100 charitable donation, $100 for Christmas or the last payment to top up my RSP of $323. So my No Spend February won't accomplish anything miraculous but it will help get me through the toughest month of the year.

March won't be quite so bad. I'll have a juicy tax refund to play with and my payroll deductions will be back to normal. I also plan to play around with numbers while doing my tax return - I'm considering other options other than an RSP and want to see what that will do to my refund.

Now off to my bicycle - only 62km to go until I reach Trenton, ON. Michael's son lives there (he's a firefighter on the army base there) so I'll have somewhere to rest while replacing the bandaids on my feet!


  1. I will wave at you as you go by ;) (I am in Brighton.)

  2. You are doing so well on your exercising! I don't think I've gotten off the couch...ugh.

    I think your plan for February is a good one. I need to save as much as I can to add to my depleted funds and get ready for the basement re-do. It looks like it will be about $1500.00 out of pocket...

    Congrats on the check! I'm sure that helps!

  3. Great job on allocating that check!

    You sure are moving through Ontario fast on your bike :-)

    Good plan for Feb and March!

  4. Woohoo for upping your emergency fund!! I always love doing that too! :) Good luck in Feb, i'm sure you'll do awesome! I'm still trying to figure things out for my no spend month...

  5. You did a great job of allocating your refund check Jane! And isn't it wonderful to be putting money away for Christmas while it is still January?? I am automatically transferring money every paycheck and when I look at the balance, it definitely makes me smile.

    Still have not made it to the gym yet... Sheeeesh!

  6. Of course you must continue to pay of your line of credit, good for you this should be an awesome Month coming up.
    Although like yourself I have trimmed myself into a corner this year, still I, m sure I can tweak it again.


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