# Where can you be more frugal



## gladaki (Feb 23, 2014)

I thought, its a good time for me to start thinking of being little frugal. 8 % car loan is eating me in and out. Total loan left is around 11,000$..I guess, I can direct all my left over income towards it..


Income after 12% RRSP deduction:	3824 

Rent	1000$ 
Car Payment	390$ 
Foreign Saving account	200$	9 percent interest on it	
Car Insurance	135$	Value of my car is 20,000	
Shaw	100$	Cable+phone+internet	
Tangerine Saving	50	Emergency account	
Cell Phone	23$ 
Groceries	300$ 
Gas	100$	
Bank fee 4$
Netflix 8$
Grooming stuff:30$	
CAA Membership:90
Total	2426$	

Where can I save
cell phone: 23$ (Already have my company cell)
Shaw:70$(cable+landline)..from April they will put me on regular internet plan of 55$
Bank Fee:4$ I need to start keeping my balance above 1500$

Total saving:97$


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## cainvest (May 1, 2013)

Drop your cable TV and hook up an antenna.
If you have a cell phone and a landline, drop the one that costs more.


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## bds (Aug 13, 2013)

-Buy a cheaper car, do you really need that $20,000+ vehicle? Especially if you're only driving 1000-1200km/month (based off your $100 gas budget). If you have 11k left on the loan you could sell and it and buy a very reliable car that's a few years old outright for 10k.

-CAA is 90/mo now? I'd ditch that immediately. The chances of breaking down and needing a tow every month are pretty slim.

-Drop cable, you won't miss it.

-You have a company phone, as long as the company is okay with it you can ditch the personal cell and landline

-Get a no-fee bank account (tangerine would work since you're already with them)

-You could buy cheaper food, but I wouldn't recommend it - health is important.


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## nobleea (Oct 11, 2013)

bds said:


> -CAA is 90/mo now? I'd ditch that immediately. The chances of breaking down and needing a tow every month are pretty slim.


If you car is worth 20K, it should still have manufacturer roadside assistance on it. If it doesn't, then you bought an older, high end car, which was not a good idea.


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## scorpion_ca (Nov 3, 2014)

Try no fee bank account such as PC financial, Canadian Direct Financial, Tangerine.
You could also use Calgary Public Library instead of Netflix. They have good collection of movies, magazines and books.


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## 1980z28 (Mar 4, 2010)

You are doing really well

Get more hours at work or a part time job

In my world I worked 6 days a week for 23 years


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## sags (May 15, 2010)

You are saving $350 out of $3824 net income..........plus 12% off your pay for RRSP contributions.

That would put you over 20% savings rate.

Stop fretting about the car loan. Time marches on and you will own the car outright.

Keep the car in good shape and invest the extra $390 when it is available.

You are doing fine.


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## rikk (May 28, 2012)

Could be the Merlot gladaki, but what do you do for fun ... not that money's a requirement ...


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## My Own Advisor (Sep 24, 2012)

Other than your car loan and your Shaw for Cable TV, you are doing great, with your 12% savings going to your RRSP. Great work. Keep doing what you're doing and enjoy life


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## gibor365 (Apr 1, 2011)

Agree with others... drop cable and buy HD antenna , drop Netflix and use library, watch stream or download


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## nathan79 (Feb 21, 2011)

Netflix is well worth the $8, IMO. You can also share an account with a friend.


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## OurBigFatWallet (Jan 20, 2014)

12% is a good savings rate. I'd keep a close eye on Shaw as they tend to give decent prices in 6 month increments and then they raise them. Is CAA really $90/m?


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## sags (May 15, 2010)

I was thinking $90 a month for CAA can't be right. 

That is two tows a month around here.

If it is right............I would get rid of that asap.


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## gladaki (Feb 23, 2014)

Thanks for feedback . So shaw cable, bell and land line will be cutting off . I really love my subaru suv..I don't think I can sell it. 

I will check CAA again it's yearly one time fee.

Other than that, I do programming for fun ..design android apps, read finance books. Well, I am also thinking of making a travel budget. Last vacation was at mexico and effected my emergency fund 3000 ..so need to start putting some $$ away for travelling will keep me save from destroying emergency fund. Another reason, I will be able to save more is beca use wife is away in toronto for her graduate degree for a year. she saved good enough for her school so I don't have to supplement anything atleast for next one year ..thank you everyone for your time.


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## My Own Advisor (Sep 24, 2012)

If you want to keep a landline Gladaki, you can try Fongo home phone:
http://www.fongo.com/home-phone/

Don't sell the SUV and go to Mexico again, you gotta live


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## gladaki (Feb 23, 2014)

My Own Advisor said:


> If you want to keep a landline Gladaki, you can try Fongo home phone:
> http://www.fongo.com/home-phone/
> 
> Don't sell the SUV and go to Mexico again, you gotta live


Thats true..By the way, I really like your blog.
Thumbs up for it.


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## NorthernRaven (Aug 4, 2010)

When did you buy your Suburu, and was it new or used? New Suburus come with 3 years of free roadside assistance, the Suburu 360 Care package, which is actually provided by CAA.

If a Tangerine/PCF free chequing account isn't sufficient for some reason, keeping that minimum balance to waive the $4 monthly account fee (are you at BMO?) is a better return than a savings account, especially if the interest is taxable.


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## nobleea (Oct 11, 2013)

NorthernRaven said:


> When did you buy your Suburu, and was it new or used? New Suburus come with 3 years of free roadside assistance,.


I'm going to assume a 4 or 5 yr old used one, probably a forester. Given the 9% rate on the loan and the 20K value.
Even so, a 5yr old subie is not going to need roadside assistance. They have pretty high dependability and durability.


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## donald (Apr 18, 2011)

Had a flash black to my 1st car I bought @ 16 suburu xt 6 86 or 87 can't remember(19 yrs ago lol)
That was a fun car and had many memories of it......this was somewhat before suburu became 'trendy' with the granola crunchers lol
I will say this about Suburu:they are well built cars!Imo one of the best car companies in the world(a strong loyal customer base)

The long and short of my answer is I think you should hang on to the car.Subaru holds out 10 fold compared to the big 3's similar offers(incl Honda)
Not that you are likely selling your car I bet!Just a prior owner of one of their cars and it 'took and licking and keep ticking'I put on like 400kms on that thing without oil changes lol(waiting for it's death)


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## xnomax (Feb 26, 2015)

*Please*

Can you please share the details of the 9% savings ?

Tia



gladaki said:


> I thought, its a good time for me to start thinking of being little frugal. 8 % car loan is eating me in and out. Total loan left is around 11,000$..I guess, I can direct all my left over income towards it..
> 
> 
> Income after 12% RRSP deduction:	3824
> ...


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## gladaki (Feb 23, 2014)

Insurance went down from 1590 to 1380 /year.....Removed my wife from insurance policy since she is at school in ontario now
and wont be driving for a year.


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