New Job!!!

Wow, 2 posts in one day!

I got the job that I REALLY wanted hooray! It is for the same company I'm working for now (pension industry) but not the same job I'm working at now - which is temporary anyways. I've already admitted that I don't like the job that I am doing now but I love the company. Basically the job I'm doing now is practically call centre (on inbound phone queue from 9-5) but I also have cases assigned to me that I have to work on during the day. The combination of these two with very little time to follow up and get in touch with clients has been making this job very stressful for me. I also have to tell someone when I'm going to get water or coffee or even if I have to go to the bathroom! I can't eat when I want because a call might come in.

So, the new position I will be off the phone queue (Thank God!!!) and processing requests for a different department and answering email questions. It is another maternity contract until Dec 31st but who knows, maybe she won't come back (unlike the last contract) or I make a good enough of an impression that they find some way to keep me - fingers crossed! The job is a significant raise in "salary" - $23.60/hour which is actually the highest salary I've ever gotten :) Downsides: no vacation - boo! and I have to "earn" sick days - I get 1.25 of sick days for every 1 month that I've worked. I don't take many sick days so that shouldn't be too much of a problem. I didn't have any vacation planned for this year (next year - wedding and honeymoon!) so I can't be working a contract then, please, please! But, I also get 8% added to my pay to compensate for this, so that's not too bad. Oh, and I will be part of a union (union dues, boo) but I can also contribute to a pension! I'm not sure I will do this yet, actually, I might wait until the contract is up and see where I stand then and then possibly do a non-contributory buyback (pension terminology has already creeped into my brain!!!)

So, I will be updating the budget yet again with new numbers as soon as I get paid. So looking forward to it!

TTFN, Morgaine.

January Numbers - Finally!

So, I've finally gotten around to posting my January numbers. I really need to make budgeting more of a priority, and I think I've gotten to a decent start in February with tracking better. But, anyways, here are the numbers:

So, I was over in pretty well all the categories! Bad PF blogger, BAD! February definitely seems that it will be more in line with what I SHOULD be spending, more on that later.

The notes there are hard to read, so I will repeat them here (I just wanted to be able to see at a glance when I look at my Excel reports what happened in that month).

Food and Entertainment: I could be way off as I didn't track cash purchases. So, I could have spent more on entertainment than food or vice versa, not really sure. But I have been tracking my cash purchases since beginning of February so February numbers will be more true.

Clothes and Personal Care: bought a new pair of winter boots ($150) and got a haircut ($42.50 - never going there again!) Soooooooooo glad I bought those boots though, its been quite the snowy winter! I will have to go back to the place I usually get my hair cut because its only $20! I was trying to find a reasonable haircutting place in my new neighbourhood, but that one certainly isn't it! And, I joined a new gym. Its close to my new neighbourhood and it is a LOT cheaper than the gym I was a member of last year. This gym had a new year special: $69 for 3 months and then it will still only be $32/month from April to December! My last gym membership was over $100 per month! Now, I just have to start going regularly ...

Hobbies: I started a new hobby - making soap! So, some start up costs are included here that won't need to be repeated, but I will be replenishing supplies as I go along, of course. I hope to have some pics of my soap up soon as well. I will be revamping my Etsy store to include the soaps too.

Tomorrow, I promise I will have the first week of February's numbers up too!

TTFN, Morgaine.

MasterCard Limit

So, today I lowered the limit on my MasterCard down to $9000 (from $10,000). I am doing this every $500 paid off to eliminate the temptation to spend on it EVER again! I want to get it down to $2500 and leave this as my limit FOREVER and close my Visa as well. No more using credit to fill the gaps for me! I am done paying interest, I am done with debt! Its just gonna take time to pay it off, and I'm working on it ...

Also, I realize I haven't posted my January numbers yet, I haven't been feeling well, but I hope to have that up tomorrow. I've been tracking my cash spending in a notebook for the last week, so I should post that too, again hopefully tomorrow. I feel better now than I have in a while, but I think I need new glasses and that's gonna put a strain on my efund, again! Well, that's what its for, I suppose.

TTFN, Morgaine.

The Job Situation

So, I lost my job early October last year. It was a maternity leave contract, so I knew it would mostly come to an end a year after I started but of course, one always hopes that the company will find them a spot once the contract is up. This didn't happen.

I was out of a job for almost a month, while applying EVERYWHERE I could think of in my industry but it took me almost the whole month just to find something (and had to take money out of my Efund to pay for rent in October!) Luckily I picked up a decent paying temp job ($18.50/hr) it was only supposed to be until Jan 1st but they decided just before Christmas last year to keep me on until the end of April (tax season).

I really don't like this job. I felt it was better than being unemployed and would give me time to look for full-time employment while having a job. Lately, its been getting quite stressful, so I have stepped up the job hunting. In this past week I have had 2 telephone interviews, 1 recruiter interview, and 2 company interviews. Talk about stress! I HATE interviews!!! I find too that my industry (financial services) seem to take a lot longer than other industries (my fiance works in computers - software development - and found a new job within a week of looking for one and they hired him the same week!) it works a lot slower in my industry and I'm just hoping I can find something I like that's not too stressful but pays what I think I need (and deserve) to be paid.

So, hopefully soon I will be able to say I have a new job and I have to rethink my budget (again!) Oh well, if its more money (fingers crossed) then I won't mind rejigging the budget anyways ;)

Wish me luck! TTFN, Morgaine.

Rethinking Budgeting

One of the main issues that I have, and I think most people (anyone can correct me, I won't be offended) also have this issue, with budgets is that I create my budgets this way:

1. Income
2. Fixed Expenses
3. Variable Expenses
4. Debt Repayment
5. Savings 

Which means you decide how much you think you have to spend in the Variable Expenses categories before getting to Debt Repayment and Savings. Not to mention that "Planned Spending" isn't in that list at all. Of course, we are still supposed to plan for these "unexpected" expenses in our budgets, but realistically, how many people actually do this when creating a budget? I always think, 'what do I typically spend on X in a typical month?' and enter this line on my budget. This, of course, doesn't take into consideration that you may only spend $40/month typically on eating out, but, oh, February has Valentine's Day in it, planning on eating out that night? Not to mention large clothing items (coats, shoes, etc) that need to be replaced and birthdays.

So, my budget for 2011 was worked out this way:

1. Income
2. Fixed Expenses
3. Debt Repayment
4. Savings
5. Planned Spending
6. Variable Expenses

I decided ahead of time what my Debt Repayment and Savings goals where first before looking at what is left over for the "spending" categories. I've never budgeted this way before. Its always, 'let's see what's left over after the spending is done' Bad Budgeter, BAD!

Income $2232
Fixed Expenses $418
Debt Repayment $1000
Savings $500
Planned Spending $80
Variable Expenses $234

The budget I posted yesterday doesn't separate out the Variable Expenses vs Planned Spending because the Planned Spending is worked into the Variable Expenses. Like Gail's jars, whatever is left over in a Variable Expense category in any month is added to next month's Variable Expenses. But, since I'm not doing the jar method (I'm lazy, I'll admit it!) I'm using my 2nd chequing account (its technically a savings account but there's no charge for transferring in and out from my 1st chequing account online) for my Planned Spending account so that when I need the money to add to my Variable Expenses in any category, I can. I am REALLY hoping I can make this work. Like I said, I've never budgeted this way before. Also, I'm leaving myself with very little play money $234 a month works out to $58.50 per week, but I've been living on about $40 for the last month and a bit, so I think I can do it. More frugal fun to be had this winter!

TTYL, Morgaine

2011 Budget

Here's what my 2011 budget sits at right now. This is subject to change - maybe sooner rather than later, since I'm only temping right now and applying for permanent jobs, but none yet :(

Since I am currently being paid weekly, I will be tracking weekly and hopefully this will make it easier to budget. So far, I think so. But time will tell ...

Happy New Year!

After a way too long hiatus, I am back! I REALLY slacked off on my money management for the last quarter of 2010 mainly because I lost my job, used up all my savings, and I'm now working a temp job that could end at any time :( But at least I'm working and bringing in some money :)

So, with the New Year comes new resolutions to be more careful and conscientious with my money.

My Money Goals for 2011:

• Have at least $2000 in my Emergency Fund
• Have at least $5000 in the Wedding Fund *joint savings with fiancee
• Have at least $7000 in RRSPs
• Pay off Visa (for good, dammit!)
• Have MasterCard down to at least $8000
• Pay down Citi (no goal, because the interest is so high, but make regular monthly payments)
• Not go over my budget more than $100 in any month

2010 was a pretty good financial year for me despite losing my job in October and slacking off in the management department for the rest of that year. I will do an analysis in a later post. But looking at my numbers right now compared to Jan 1/10, I am up $6000 in Net Worth. That's pretty good, if I do say so myself :)

So, Happy New Year's to all and may 2011 be a year of happiness, fulfilment, and sound money management! :D TTYL, Morgaine.