Friday, December 21, 2012

Final Paycheque and Updated Stats

Now that I have my new net amount I can start budgeting for 2013! Hooray! (Only us pf geeks get that excited about budgeting!) I think it will change a bit in 2013 due to tax credits but this is a good amount to get started with.

Also since its the last paycheque of the year, I looked up what my approx tax refund would be (again such a pf geek!) And it looks like I should expect around $3500! That's way more than I've gotten in the last few years. Guess where its going? Right back into my RSP. I could use it to pay down debt or fund other things but doing this will put me at my 1st house savings goal of $25K at the end of June! This will give us some flexibility in when we could look for a new home and then I can drop my RSP contribution to a much more reasonable level (probably $100 a paycheque) and save for closing costs, up my emergency fund, AND pay off debt!!! I have to admit that this is making me very excited and now I can't wait until I get my T4 and receipts. In related news, this is the first year since 2008 (and I think that was the only other year since 2003 and now) that I will only be getting 1 T4. Even though I worked at the same job in 2011 I was a temp for 2 months and my agency paid me for those months. This will make tax time a lot quicker (oh, and our T4s are online) and easier to deal with. I only have 1 investment at the moment too plus my 2 charity contributions and my taxes are organized!

I've updated my side bars as we are closing in on 2012. I'm very happy to say that I am over 50% to my RSP/home downpayment goal, I am under $6K left in debt, and I am just shy ($58) of a net worth of +$8K. This is a great way to end off the year, if I do say so myself. We also paid for a wedding and honeymoon in cash.

All in all 2012 was a good year but I'm hoping 2013 to be an even better one with a house and (consumer) debt-free on the horizon.

I hope everyone has a safe and happy Christmas, spending time with friends and family.


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