Spending Update: Need Improvements
Here is my spending update for last week, unfortunately it wasn’t a great week for spending. I went $30 over budget in my entertainment category ($128.31) largely due to being too busy and too frenetic – I wrote a post about it, read more here for “a day in the life of Lindsey”.
In personal care, I spent $65.00 for a physical therapy appointment. This will probably be a regular expense for the next month or so as I try to fix my back problem. This will be a good investment in being pain-free, which will bring me great joy.
Spending Update: Debt Down!
On the upside, we have almost achieved our goal of getting the credit card balance under the $10,000 mark which will be great (we’re just $90 off). This will be the first time it’s been under $10,000 in the last year and a half.
Spending Update: Retirement Planning
Last week, I started planning out my retirement – I have designated that 5% of my income go into a work group plan RRSP. One of the benefits of going the group plan route is that the plans allow for a lower investment management fee (1% lower). Also, I have decided that I will start allotting my flex spending account of $2300 yearly towards a TFSA.
Both of these plans, in combination with my defined benefit pension plan (this means that the employer/sponsor promise to pay a certain amount to you, read more here) will secure my future without a lot of sacrifice. I will also have a tonne of write-offs come tax season as well. Thank you happy government job – I will always work for you in some way, shape, or form until I retire.
However, one of my goals is to educate myself more thoroughly on the numbers and how the whole investment process works. I don’t want to rely on the magical pension fairy to make my retirement comfortable.
Anyways, I digress. I think my next big push will be towards slowing down, but that will be a different post.
How’d your week go?
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