Diary to restrain spending, 51% savings rate - Page 16
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Thread: Diary to restrain spending, 51% savings rate

  1. #151
    Super Moderator
    Join Date
    Nov 2012
    Location
    Pacific
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    8,030
    Monthly update:

    February spending: $2,218
    Total spent in last 12 months: $36,133

    I discovered last month that if you're working very hard, constantly exhausted, and get one cold after the other, ... you spend very little money. Not my idea of fun! At least I didn't spend much money.


  2. #152
    Member
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    Jun 2016
    Location
    Frankfurt Germany
    Posts
    59
    Edited:

    I was asking what the breakdown of your spending was, but I checked and you posted that on the first page. I've been in our place for going on 6 months and getting an idea of our costs and funny enough they come about about the same (in Euros). Also the biggest determiner is the one I have the least control, dog and dental/medical. A root canal plus issues with the dog meant I'm out nearly 800€ this month.
    Last edited by Lost in Space 2; 2017-03-21 at 10:20 AM.

  3. #153
    Super Moderator
    Join Date
    Nov 2012
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    Pacific
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    8,030
    Let me share my recent adventures in looking for a new apartment. Originally my hope was to reduce my cost of living but preserve amenities that I really like. This has turned out to be impossible (if I want to have a 1 bedroom apartment and a building with good access to public transit).

    First I spent about a month looking at units around the city and couldn't find an option I liked. Then I found one suitable option within my existing apartment building. The price was good. Ready to move, I contacted the management of the building and said that I'd like to start the process.

    In response, they phoned me with their "updated price" and said they decided the unit will have hardwood floors installed. The new price is $157/month more than their original price. It changed over one day.

    So there we go... I will not be moving. Apparently my current apartment is one of the best deals in the city. At least I know it's priced fairly, and you can't say I didn't try

    Good news, though, is that I just got a 5% raise at work.

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  5. #154
    Super Moderator
    Join Date
    Nov 2012
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    Pacific
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    Clarifying, my existing rent went up 5%, and then I got a 5% pay raise. I appreciate that my employer is paying me fair wages.

  6. #155
    Super Moderator
    Join Date
    Nov 2012
    Location
    Pacific
    Posts
    8,030
    Monthly update:

    March spending: $2,687
    Total spent in last 12 months: $36,179

    Annual expenses are hovering at just over 36 K. My target is to keep spending under 38 K (reminder, I'm single).

  7. #156
    Super Moderator
    Join Date
    Nov 2012
    Location
    Pacific
    Posts
    8,030
    Monthly update:

    April spending: $3,382
    Total spent in last 12 months: $37,194

    Expenses creeping up a bit, but still under the 38 K target. The main cause for this jump is my tax/accounting fees were incurred a month earlier than usual. And the trend in those is looking good. Tax & investment advice cost me $900 in 2015, $800 in 2016, and down to $300 this year! I decided to prepare both countries' tax returns myself and only pay the accountant to review them. I just can't afford to have them prepare filings, and it's still a lot of work for me. Last year, they made many mistakes and I was scrambling to fix them last minute.

    For those who think $300 sounds really high for someone to not even prepare your returns, I require an expert who is certified in both US & Canada. They also check the current laws and regulations and advise me, including on investments that are dual-country compatible. They previously caught several errors I was about to make and have helped me structure things to be dual country compatible -- I feel this person is worth the $300 for advice & review.

    This year they actually caught a bug in the output from my tax software, which I promptly had the vendor resolve. The T2209 Foreign Tax Credit had some buggy behaviour. I also keep copies of email exchanges with them as evidence in case of a CRA or IRS dispute, that I tried my best to do what's proper and received this advice from a professional.
    Last edited by james4beach; 2017-05-11 at 12:26 AM.

  8. #157
    Senior Member My Own Advisor's Avatar
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    Sep 2012
    Location
    Ottawa
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    4,875
    $300 is a small price to pay in the grand scheme of things. Money well spent. Trivial cost when you consider what % that is of your total spending.

    Hidden Content - Working on a $1 million portfolio and $30k per year from it.

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