# Diary of a BC Guy



## nathan79

*Basic Info*

Age: 33
Net Income (after taxes): $28,250
Status: single

*Assets*

Condo: $160,000 (approx.)

Chequing Account: $6,384

Savings: $10,816 (1.35%)
TFSA Savings: $10,522 (1.4%)
RSP Savings: $1,720 (1.35%)

TFSA GIC: $5331 (3.2%)

TFSA Index Fund: $5445 (+8.92%)

Car: $1,500 (approx.)


*Liabilities*

Mortgage: $40,859


*Net Worth*
$160,859


*Goals for 2013*

1. Sell condo
2. Purchase house
3. Move remaining cash into index funds, or dividend stocks.

I know I have a lot of cash sitting in low interest accounts, mainly because I may need that cash for a down payment, and it didn't seem wise to risk it in the markets. The $6384 in the chequing account, I will admit, is mainly due to laziness and not being sure what to do with it. I am thinking that I may just dump it into the savings account for now.

I expect the down payment to take the majority of my funds, so I'm not sure where I'll be a year from now. Will update next January.


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## andrewf

Guessing not lower mainland, given the condo valuation?


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## piano mom

@ andrewf

You can still find older condos for $100k in the lower mainland. See for yourself on MLS.ca


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## nathan79

Yeah, I'm in the Fraser Valley. 160K is actually a pretty average valuation I think, especially for a 1 bedroom.

You can even still get houses for under 300K in the eastern valley.


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## Saniokca

why do you need a house when you're single and 33?


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## kaleb0

Definitely get that $6k from your Chequing Account moved into your Savings Account so at least you can get a little bit of interest on it, right now it is just sitting there literally depreciating in value day by day. 

I have to second the question, why the need to buy a house? I might suggest waiting to see how much of a correction the housing market takes in the next year or two first.

From the interest rates you're posting I am going to take a stab and guess that you're with PC Financial? :encouragement:


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## nathan79

I currently have my chequeing account with Coast Capital Savings, and my other savings and investments are with ING. 

I have been thinking about finding a better interest rate for my savings. When I first joined ING a few years ago, I got a pretty good rate, and I also got a decent rate on my GIC. I'm also fairly happy with their Streetwise Fund (Balanced Growth Fund).

I certainly don't need a house, but I've discovered that I'm just not as big a fan of condo living as I thought I would be. I would like some space to work on my hobbies (woodworking, gardening, etc) and I'd like to get back into tinkering with old cars.

I've owned the condo for 10 years, and in that time I've alternated between living in it, renting it out and living with my mom, and living with friends.

On the topic of the market correcting, I've been hearing that for four years and it's only dropped slightly. With interest rates staying low through 2014, doesn't seem like a major correction is in the cards (I could be wrong of course, but how long should I wait?).


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## Pennypincher

I am impressed with your net worth considering your income. You seem to know how to spend your money wisely for the most part. You need more retirement savings though. Can you move into a job that has a pension plan or something? Or are you restricted with your job?


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## nathan79

Thanks. I was $5000 in debt in 2005 and that's when I realized I needed to "wise up".

It would be a little hard for me to leave this job, because apart from the mediocre wage, I actually don't mind it at all -- and that's a rare thing.

I'm a bit of a loner, so it can be difficult to find jobs that suit me. I have some issues with anxiety so I can't very well work in a high stress environment. I quit one such job in 2004; was unemployed for the better part of a year, ended up on anti-depressants.

A pension plan would be nice. Dental would be nice, too....


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## Pennypincher

Fair enough. I know someone who has some of the issues you deal with and the fact that you found a job that suits you is fantastic. You seem to be realistic about your goals and what you need to get by.


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## Hobotrader

Impressive networth at your salary level. I can totally understand clinging to safety with the anxiety/depression thing. You don't want to take risks that put you into a tight spot that you can't dig out of. You have family nearby? They can usually help in throwing up a safety net if **** hits the fan. Also disability insurance =/. Government is a decent place to go if you want a low stress job with moderate-high pay.


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## nathan79

August Spending Summary

Basics: $440 (50% share)
Rent: $350
Utilities: $40
Internet/Cable/Phone: $50

Food: $294.97
Groceries: $148.42
Restaurant: $54.00
Fast Food/Drink: $58.10
Alcohol: $34.45

Automotive: $206.99
Insurance: $85.92
Gas: $102.17
Maintenance: $15.90
Tolls: $3

Personal Care: $87.01
Grooming & Health: $20.51
BC MSP: $66.50
Prescriptions $0
Clothing: $0

Entertainment: $69.18
Cinema: $24.00
DVDs: $31.83
CDs: $0
Books: $0
Other: $13.35

Other: $254.34
Hobbies: $139.59
Cat: $111.52
Internet: $3.23
Gifts & Charity: $0


Total Expenses: $1352.49

Net Earnings: $2875.32

2875.32 - 1352.49 = *$1522.83 Savings*

I didn't set out to make this month anything special, but it turned out to be a pretty good month due to some overtime at work. I suspect my earnings in September will be closer to $2000, while my expenses will stay roughly the same.

I won't be calculating my net worth until the New Year.


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## nathan79

September Summary

Basics: $440 (50% share)
Rent: $350
Utilities: $40
Internet/Cable/Phone: $50

Food: $327.10
Groceries: $173.51
Restaurant: $94.30
Fast Food/Drink: $33.35
Alcohol: $25.94

Automotive: $283.44
Insurance: $85.92
Gas: $114.00
Maintenance: $83.52
Tolls: $0

Personal Care: $71.50
Grooming & Health: $5.00
BC MSP: $66.50
Prescriptions $0
Clothing: $0

Entertainment: $88.29
Cinema: $42.00
DVDs: $0
CDs: $13.23
Books: $19.71
Other: $13.35

Other: $228.79
Hobbies: $33.64
Cat: $151.98
Internet: $3.23
Gifts & Charity: $39.14
Housewares: $0.80


Total Expenses: $1439.12

Net Earnings: $1981.42

1981.42 - 1439.12 = *$542.30 Savings*

As expected, my earnings this month were less than last month, and slightly below an average month. I had some car maintenance and purchased some gifts, so my overall spending increased by just under $100.


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## eulogy

Keep it up! Even though it was a more expensive month and you didn't earn as much as last month, you're still saving over 25% of your income. I know people that make more money and struggle to even save 5% (mainly because they made more money and just found more "stuff/life" to spend it on).


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## nathan79

Thank you for the comments. I will continue to focus on saving since it's the thing I'm best at. I could easily cut back even more, for that matter.

Anyway, here's how I did for October...

October Summary

Basics: $440 (50% share)
Rent: $350
Utilities: $40
Internet/Cable/Phone: $50

Food: $309.08
Groceries: $179.24
Restaurant: $60.87
Fast Food/Drink: $47.77
Alcohol: $21.20

Automotive: $239.03
Insurance: $85.92
Gas: $107.02
Maintenance: $43.09
Tolls: $3.00

Personal Care: $140
Grooming & Health: $39.96
BC MSP: $66.50
Prescriptions $0
Clothing: $33.54

Entertainment: $50.07
Cinema: $21.49
DVDs: $0
CDs: $0
Books: $15.23
Other: $13.35

Other: $175.47
Hobbies: $8.40
Cat: $32.25
Internet: $3.17
Gifts & Charity: $0
Housewares: $21.07
Furniture: $96.30
Office: $14.28


Total Expenses: $1353.65

Net Earnings: $1882.66

*$529.01 Savings*

My goal was to reduce spending back to August's level, and I basically succeeded despite spending an extra $96 on furniture; I came in just a dollar and change ahead of that month. I haven't been working quite as many hours the last couple of months, but I'll be working five overtime shifts in November, so that should be a pretty good month.


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## nathan79

Hobotrader said:


> Impressive networth at your salary level. I can totally understand clinging to safety with the anxiety/depression thing. You don't want to take risks that put you into a tight spot that you can't dig out of. You have family nearby? They can usually help in throwing up a safety net if **** hits the fan. Also disability insurance =/. Government is a decent place to go if you want a low stress job with moderate-high pay.


Thanks for commenting: I should update this because I actually applied for a job with the government a few months ago. So far, they've made me do a couple of online tests, but it's been a while since I've heard anything from them. I'm not terribly optimistic... despite the fact that I meet the criteria the set out in the job posting, I believe there are about 20 other people competing for only 2 positions.


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## none

Don't get too hung up about waiting about the government job. I applied for one a few months back that I was WAY over qualified for. I looked at my online profile and I made it to the second round which said 'I would be contacted'. Unless the government has an 'over qualified' category to kick someone out (which I don't think they do) then they are just dragging their feet.

Makes me think it may have been one of those jobs where they had someone in mind. Then I came a long and screwed it all up. Anyway, whatever, it's not like I won't be able to make more in a consultant capacity which is what I plan to do otherwise.


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## nathan79

November Summary

Basics: $440 (50% share)
Rent: $350
Utilities: $40
Internet/Cable/Phone: $50

Food: $306.58
Groceries: $168.64
Restaurant: $37.00
Fast Food/Drink: $51.00
Alcohol: $49.94

Automotive: $242.06
Insurance: $85.75
Gas: $111.43
Maintenance: $41.88
Tolls: $3.00

Personal Care: $161.61
Grooming & Health: $12.21
BC MSP: $66.50
Prescriptions $82.90
Clothing: $0

Entertainment: $57.85
Cinema: $35.50
DVDs: $0
CDs: $0
Books: $9.00
Other: $13.35

Other: $435.71
Hobbies: $8.40
Cat: $50.34
Internet: $3.20
Gifts & Charity: $380.05
Housewares: $17.91
Furniture: $0
Office: $0


Total Expenses: $1668.00

Net Earnings: $2337.81

*$669.81 Savings*

November shaped up to be a slightly more expensive month, which was expected with Christmas around the corner. I knew I would be buying gifts and it would be a more expensive month. I also knew I would earn slightly more than last month... but not quite as much as I was hoping for. December should be a better month.


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## nathan79

It's the New Year, so I will be posting my net worth update, but first here's the summary for December...

December Summary

Basics: $440 (50% share)
Rent: $350
Utilities: $40
Internet/Cable/Phone: $50

Food: $276.07
Groceries: $161.18
Restaurant: $65.00
Fast Food/Drink: $49.89
Alcohol: $0

Automotive: $180.81
Insurance: $85.75
Gas: $53.32
Maintenance: $38.74
Tolls: $3.00

Personal Care: $92.41
Grooming & Health: $23.16
BC MSP: $69.25
Prescriptions $0
Clothing: $0

Entertainment: $35.85
Cinema: $21.50
DVDs: $0
CDs: $0
Books: $1.00
Other: $13.35

Other: $445.56
Hobbies: $0
Cat: $36.30
Internet: $26.73
Gifts & Charity: $373.79
Housewares: $8.74
Furniture: $0
Office: $0


Total Expenses: $1470.70

Net Earnings: $2575.81

*$1105.11 Savings*

I managed to spend slightly less in December since I did a lot of holiday shopping in November this year. I also earned about $250 more tha November, so it was not a bad month overall and I was able to save over $1100. I think that any month I can save more than $1000 is a good one.


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## nathan79

Okay, here's the net worth update.

*Assets*

Condo: $160,000 (*no change*)

Chequing Account: $1,112 (*-$5,272*)

Savings: $19,541 (*+$8,725*)
TFSA Savings: $10,670 (*+$148*)
RSP Savings: $1,744 (*+$24*)

TFSA GIC: $5,576 (*+$245*)

TFSA Index Fund: $12,653 (*+$7208*) 

Car: $2,000 (*+$500*)


*Liabilities*

Mortgage: $37,956 (*-$2903*)	


*Net Worth*

$175,340 (*+$14,481*)


I also have some Bitcoins and a small amount of money in a Forex account, but I'm not going to include those in my net worth at the moment.


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## nathan79

I managed to start the year off pretty well. Kept expenses low and finally got paid for some extra time I worked back in December.

January Summary

Basics: $440 (my share)
Rent: $350
Utilities: $40
Internet/Cable/Phone: $50

Food & Drink: $264.67
Groceries: $131.30
Restaurant: $67.25
Fast Food/Drink: $18.00
Alcohol: $48.12

Automotive: $229.55
Insurance: $85.75
Gas: $109.81
Maintenance: $33.99
Tolls: $0

Personal Care: $90.48
Grooming & Health: $21.23
BC MSP: $69.25
Prescriptions $0
Clothing: $0

Entertainment: $37.85
Cinema: $24.50
DVDs: $0
CDs: $0
Books: $0
Other: $13.35

Other: $111.74
Hobbies: $0
Cat: $10.08
Internet: $3.26
Gifts & Charity: $.56
Housewares: $21.80
Furniture: $55.99
Office: $20.05


Total Expenses: $1174.29

Net Earnings: $3219.04

*$2044.75 Savings*


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## nathan79

February Summary

February was not the greatest. It was a short month so earnings were lower, and also I spent more on frivolous things.

Net Earnings: $1946.80

Expenses:

Basics: $440 (50% share)
Rent: $350
Utilities: $40
Internet/Cable/Phone: $50

Food: $314.59
Groceries: $162.27
Restaurant: $46.92
Fast Food/Drink: $59.35
Alcohol: $46.05

Automotive: $152.84
Insurance: $85.75
Gas: $49.59
Maintenance: $17.50
Tolls: $0

Personal Care: $220.04
Grooming & Health: $25.34
BC MSP: $69.25
Prescriptions $82.90
Clothing: $42.55

Entertainment: $173.94
Cinema: $38.49
DVDs: $0
CDs: $120.60
Books: $1.50
Other: $13.35

Other: $102.81
Hobbies: $0
Cat: $46.85
Internet: $3.41
Gifts & Charity: $0
Housewares: $20.11
Furniture: $0
Office: $4.44
Cell Phone top-up: $28.00


Total Expenses: $1404.22

*$1946.80 - $1404.22 = $542.58 Savings*


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## peterk

Well don't beat yourself up too much. A great number of my friends net $3500/month and still barely manage to save $500 of it!

You sir are killing it.


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## gladaki

*Great*

you are an inspiration to me..I made close to 70k$ before taxes in last two year but currrently has
zero saving in my account. Thanks for posting


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## Pennypincher

Wow you are doing well - great to see!


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## mind_business

Impressive control of your finances at your age. Curious, what ever happened to the goal of buying a home?


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## nathan79

I really appreciate the comments. Thank you.
I'm good at saving money but I'm really still just a novice when it comes to investing.



mind_business said:


> Impressive control of your finances at your age. Curious, what ever happened to the goal of buying a home?


Yeah, I was planning on selling my condo and using that money for a down payment on a house, but I seem to have put that on the back burner for now. I currently have a pretty good living arrangement in a basement suite with someone I get along with well.

The condo is currently rented out so the expenses are covered.
I could sell it, but the tenant wants to stay, and I'd have to do some renovations before I could put it on the market anyway.


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## mind_business

I'm 47 and still a novice at investing. Good thing we learned how to save ... eventually.


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## Jon_Snow

mind_business said:


> I'm 47 and still a novice at investing. Good thing we learned how to save ... eventually.


The saving part has always come easier than the investing part - can frugality be genetic?

I will admit that I feel better and better about my ability to grow our money through investments - I give this forum a ton of credit for this, I have learned TONS here. These money diaries in particular are awesome. :encouragement:


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## Karen

I'm 70, and I never did learn much about investing, but I've been an excellent saver all my life and I've been able to retire very comfortably. I do have some pension income, but my savings are what make the difference between "getting by" and "living very comfortably." I'm very impressed with how well you're doing, Nathan, and I enjoy reading your updates.

I never did understand why so many people (including many on this forum) seem to think that younger, single people shouldn't buy a house. Why on earth not? I can't think of anything more sensible to spend your money on as long as you don't overextend yourself with too big of a mortgage. There's nothing wrong, of course, with spending money on extravagant things when you're young, but that's a life-style choice; some people feel more comfortable owning a home and having some money in the bank before they start spending it on non-necessities - there's nothing wrong with that either!


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## Westerncanada

Nathan

Great to see the forward progress... I am quite confident if you can continue this level of focus for a lifetime you will be very very well off in whatever you choose to do or go.


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## nathan79

March Summary

I did okay last month and managed to spend a little less than I did in February.

Net Earnings: $2659.11

Expenses:

Basics: $440 (50% share)
Rent: $350
Utilities: $40
Internet/Cable/Phone: $50

Food & Drink: $350.27
Groceries: $189.91
Restaurant: $65.24
Fast Food/Drink: $53.56
Alcohol: $41.56

Automotive: $210.39
Insurance: $85.75
Gas: $114.19
Maintenance: $4.45
Tolls: $6

Personal Care: $175.35
Grooming & Health: $27.70
BC MSP: $69.25
Clothing: $78.40 (shoes)

Entertainment: $53.84
Cinema: $40.49
Other: $13.35

Other: $56.86
Cat: $8.35
Internet: $3.41
Housewares: $44.45
Office: $0.65


Total Expenses: $1286.71

*$2659.11 - $1286.71 = $1372.40 Savings*


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## nathan79

April Summary

I was a little short of hours at work in April due to scheduling, and having taken an additional day off on top of that. I'm trying to increase my pay a little, but my boss is at loathe to give a substantial raise in this economic climate. I managed to negotiate a 3% raise anyway, which is less than the 8-9% I was hoping for. It doubt it will even make a difference on my cheques, so I'll just have to find a way to work more hours instead.

Net Earnings: $1877.88

Expenses:

Basics: $440 (50% share)
Rent: $350
Utilities: $40
Internet/Cable/Phone: $50

Food: $243.17
Groceries: $125.08
Restaurant: $60.59
Fast Food/Drink: $36.15
Alcohol: $21.35

Automotive: $216.08
Insurance: $85.75
Gas: $115.88
Maintenance: $8.45
Tolls: $6

Personal Care: $211.03
Grooming & Health: $75.73
BC MSP: $69.25
Clothing: $66.05

Entertainment: $92.36
Cinema: $27
CDs: $15.01
Books: $2
Other: $48.35

Other: $135.53
Hobbies: $48.53
Cat: $43.58
Internet: $3.42
Gifts & Charity: $5
Housewares: $35


Total Expenses: $1338.17

*$1877.88 - $1338.17 = $539.71 Savings*


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## james4beach

This is a great diary... you're really doing excellent. First of all you're always spending less than you make, which is amazing discipline in itself... and you are saving a sizeable amount of your income.

Great job! This kind of control of your expenses is going to yield far better result than any "investing" activity you could possibly engage in. You're doing the right stuff: focus on the income vs expenses equation. Also, keep an eye out for opportunities for higher income. Build your net worth and cash depot.



Karen said:


> I never did understand why so many people (including many on this forum) seem to think that younger, single people shouldn't buy a house. Why on earth not?


I'm a young, single person with high income but I don't buy a house. Why? Because the economy is terrible and my job is unstable. I could easily lose my job in a couple years. Most of my friends, me included, have experienced waves of layoffs in the last 6 years.

The last thing I want is to be facing a huge mortgage and debt payments, lose my job, remain unemployed. What awful stress that would be to be stuck making expensive payments while I can't find a job. By renting an apartment I can (and did) ditch the apartment, downsize living expenses or move in with family or friends.

An apartment lets you just walk away from it. Let someone else take the debt and capital risks. There is _always_ a way to cut your housing expenses (move in with other people, etc). It gives me flexibility, like a depression-era nomad who moves around to find work.

Welcome to the post-2000 economy! This isn't what you guys grew up with in the 60s and 70s... there's no such thing as job stability. The only way you might pull it off is with a dual-income household if the people work in distinct sectors.


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## nathan79

May Summary

I bought a car in May, so I took a big step backwards in terms of my savings. My spending also increased in other categories. Some of it, such as dental and health expenses, couldn't really be helped, but I'd like to spend a bit less on restaurants. It's a good thing my basic living expenses are low because it allows me to splurge in other areas from time to time. Not something I want to make a habit of, though... especially on my income.

Come to think of it, this is the first time in a few years that I've spent more in a month than I've earned. I guess that's not a bad track record, overall.

Net Earnings: $2267.13

Expenses:

Basics: $440 (50% share)
Rent: $350
Utilities: $40
Internet/Cable/Phone: $50

Food: $361.12
Groceries: $159.04
Restaurant: $108.95
Fast Food/Drink: $37.99
Alcohol: $55.14

Automotive: $485.04
Insurance: $85.75
Gas: $160.81
Maintenance: $239.28

Health & Personal Care: $353.74
Grooming & Health: $30.09
BC MSP: $69.25
Prescriptions $82.90
Dentist: $171.50

Entertainment: $56.35
Cinema: $43.00
Other: $13.35

Other: $111.19
Hobbies: $22.84
Cat: $6.80
Internet: $3.38
Gifts & Charity: $41.52
Housewares: $36.65

*Subtotal: $1807.44

New Car: $6408.00*

Total Expenses: $8215.44

Savings: -$5948.31


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## nathan79

*June Summary*

Net Earnings: $1864.74

Expenses:

*Rent/Utilities/Internet: $440*
(50% share)

*Food: $299.32*
Groceries: $136.01
Restaurant: $33
Fast Food/Drink: $87.86
Alcohol: $42.45

*Automotive: $372.94*
Insurance: $85.75
Gas: $169.98
Maintenance: $108.21
Tolls: $9

*Health & Personal Care: $384.60*
Grooming & Health: $14.35
BC MSP: $69.25
Dentist: $301

*Entertainment: $76.45*
Cinema: $49.49
CDs: $13.61
Other: $13.35

*Other: $107.05*
Hobbies: $16.80
Cat: $41.25
Books: $36.72
Internet: $3.33
Office: $8.95

*Total Expenses: $1680.36*

*Savings: $184.38*


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## nathan79

*July Summary*

Net Earnings: $3217.14

Expenses:

*Rent/Utilities/Internet: $440*
(50% share)

*Food & Drink: $354.84*
Groceries: $143.34
Restaurant: $101.75
Fast Food/Drink: $85.60
Alcohol: $24.15

*Automotive: $428.43*
Insurance: $85.75
Gas: $163.11
Maintenance: $173.57
Parking: $6.00

*Health & Personal Care: $182.96*
Grooming & Health: $50.16
BC MSP: $69.25
Clothing: $63.55

*Entertainment: $124.90*
Cinema: $51.05
Books: $12.10
Other: $61.75

*Other: $57.93*
Hobbies: $2.45
Cat: $14.25
Internet: $3.29
Gifts & Charity: $37.94


*Total Expenses: $1589.06*

*Savings: $1628.08*


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## nathan79

*August Update*

Net Earnings: $1938.66

Expenses:

*Rent/Utilities/Internet: $440*
(50% share)

*Food & Drink: $343.96*
Groceries: $155.37
Restaurant: $84.34
Fast Food/Drink: $54.10
Alcohol: $50.15

*Automotive: $294.06*
Insurance: $85.75
Gas: $183.61
Maintenance: $18.70
Parking: $6

*Health & Personal Care: $100*
Grooming & Health: $30.75
BC MSP: $69.25

*Entertainment: $71.10*
Cinema: $37.75
Other: $33.35

*Other: $129*
Cat: $80.79
Internet: $3.31
Office: $3.35
Cell Phone: $28
Housewares: $13.55


*Total Expenses: $1378.12*

*Savings: $560.54*


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## nobleea

Your car gas bill is pretty high - do you have a long commute?


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## nathan79

nobleea said:


> Your car gas bill is pretty high - do you have a long commute?


Naw, my car just sucks gas. And I'm not sure what gas prices are like there, but I've been paying $1.40 - $1.50/litre for most of the summer (the price has come down a bit in the last couple weeks). I also tend to drive a bit more in the summertime.


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## peterk

Consistently good savings.

What kind of car did you buy?


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## nathan79

2003 Infiniti G35

It was not meant to be a frugal choice, but I've had no major issues after four months. Just routine maintenance which I do myself.


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## peterk

Sweeeet. I would love to be spending summer bombing around Vancouver and BC in that thing!


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## Underworld

Great job Nathan. I'm also impressed with your saving ability.
Are you investing the savings?


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## nathan79

Underworld said:


> Great job Nathan. I'm also impressed with your saving ability.
> Are you investing the savings?


Thanks. I haven't made any investments in the last year or so. I've had a lot of indecision regarding a potential home purchase and other things. Now I might have a special assessment upcoming for my condo, but it remains to be seen how much money that will cost.

With the current market correction it might be a good time invest a little, though.


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## nathan79

*September update*

As mentioned above, not much changed in September. I must have stayed home all month because I managed to spend next to nothing.

Net Earnings: $2351.71

Expenses:

*Rent/Utilities/Internet: $440*
(50% share)

*Food & Drink: $232.36*
Groceries: $112.85
Restaurant: $42.10
Fast Food/Drink: $52.71
Alcohol: $24.70

*Automotive: $237.79*
Insurance: $85.75
Gas: $91.50
Maintenance: $60.54

*Health & Personal Care: $105.07*
Grooming & Health: $35.82
BC MSP: $69.25

*Entertainment: $32.73*
Cinema: $14.94
DVDs: $16.79
Books: $1.00

*Other: $30.62*
Internet: $3.26
Housewares: $6.95
Gifts & Charity: $20.41


*Total Expenses: $1078.57*

*Savings: $1273.14*


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## nathan79

*October update...*

Finally got around to selling my old car and pocketed $1575 for my trouble. Just renewed insurance for my Infiniti and increased the coverage slightly to add some collision and comprehensive ($1000 deductibles). Total cost is $1440/yr, averaged over 12 months equals $120 a month... will add the new amount to my budget starting in November.

I opened an account with President's Choice Financial to take advantage of their 3% interest promotion. I've currently got ~20K in my savings account.

Also opened an account with Questrade. So far I've purchased about $1000 of ZDV. Not in a hurry to make any big moves, still learning the platform.

Anyway...

Net Earnings: $3367.64

Expenses:

*Rent/Utilities/Internet: $440*
(50% share)

*Food & Drink: $352.19*
Groceries: $148.80
Restaurant: $103.88
Fast Food/Drink: $60.51
Alcohol: $39

*Automotive: $192.37*
Insurance: $85.75
Gas: $73.18
Maintenance: $27.44
Tolls: $6

*Health & Personal Care: $119.10*
Grooming & Health: $31.95
BC MSP: $69.25
Clothing: $17.90

*Entertainment: $54.75*
Cinema: $21.90
Bowling: $19.50
Other: $13.35

*Other: $41.74*
Cat: $16.55
Internet: $3.42
Computer: $21.77 (RAM for laptop)


*Total Expenses: $1200.15*

*Savings: $2167.49*


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## nathan79

*November update*

No major changes this month. I transferred more money to my Questrade account, but haven't made any new purchases. I also haven't started Christmas shopping yet, but managed to spend a bunch of money on myself instead... lol. 

Net Earnings: $2265.35

Expenses:

*Rent/Utilities/Internet: $440*
(50% share)

*Food & Drink: $352.14*
Groceries: $177.12
Restaurant: $74.88
Fast Food/Drink: $61.09
Alcohol: $39.05

*Automotive: $292.16*
Insurance: $120
Gas: $172.16
Maintenance: $0

*Health & Personal Care: $247.10*
Grooming & Health: $38.76
BC MSP: $69.25
Prescriptions: $82.90
Clothing: $56.19

*Entertainment: $95.89*
Cinema: $21.75
Music: $25.90
Blu-ray: $26.84
Other: $21.40

*Other: $582.93*
Cat: $117.29
Hobbies: $359.01
Computer: $95.19
Internet: $3.44
Housewares: $2.80
Christmas: $4.20
Gifts/Charity: $1.00


*Total Expenses: $2010.22*

*Savings: $255.13*


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## peterk

Have you ever had a month in the red? (other than new car purchase)? Always impressive Nathan.

This in one of my favourite diaries. 

What does your work schedule look like. Are you doing a full 40 hour week?


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## nathan79

Thanks, peterk.

In the three years I've been keeping track, I think the worst I've done is break even.

I normally work a "four on-four off" schedule of 12 hour shifts, which means my schedule varies quite a lot, but it comes out to roughly 40 hours a week. A typical pay period for me has between six and eight shifts. However, I'll be working five shifts a week for the next few months because an employee went on medical leave.


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## nathan79

*December update...*

I'm going to do my annual net worth calculation shortly, but first here's a December update. I had some overtime this month, so I was able to save some money despite holiday shopping.

Net Earnings: $3139.58

Expenses:

*Rent/Utilities/Internet: $440*
(50% share)

*Food & Drink: $337.87*
Groceries: $155.44
Restaurant: $70
Fast Food/Drink: $45.85
Alcohol: $66.58

*Automotive: $230.33*
Insurance: $120
Gas: $89.96
Maintenance: $20.37

*Health & Personal Care: $224.69*
Grooming & Health: $16.14
BC MSP: $69.25
Dentist: $139.30

*Entertainment: $63.09*
Cinema: $24.75
Music: $16.79
Books: $7.55
Other: $14

*Other: $733.43*
Cat: $51.50
Internet: $24.87
Office: $1.05
Cell Phone: $100.08 (new phone & accessory)
Housewares: $70.43
Gifts & Charity: $302.65
Computer: $182.85 (upgrades to five-year-old PC)

*Total Expenses: $2029.41*

*Savings: $1110.17*


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## scorpion_ca

You could use public library to reduce your entertainment cost.


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## nathan79

scorpion_ca said:


> You could use public library to reduce your entertainment cost.


Good point. I do use it occasionally, along with borrowing from friends/relatives. That saves a bit of money, but I guess I'm a fairly voracious consumer of movies/TV/etc. The library doesn't seem to have all that I'm looking for.


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## nathan79

It's time for my annual net worth check-up.

On the positive side, I managed to save 40.3% of my after-tax income, a total of $12,138.

On the negative side, I used some of that money to upgrade my ageing vehicle, which reduced the amount I truly saved to only 19%, or $5,730.

Also on the negative side, my condo decreased in value due to softness in the condo market. I estimate it dropped about 10K, from 160K to 150K. No biggie, since I would have spent that much on commissions had I sold it, and I'm still bringing in rental income (which is not included in this diary since it most if it goes on the mortgage and other expenses).

*Assets:*

Unregistered
Chequeing: $4,207
Savings: $18,952
Equities: $3,104

TFSA
Savings: $10,811
GIC: $5,757
Tangerine Balanced Growth Fund: $14,061

Registered
Tangerine Equity Growth Fund: $1,765
Savings: $1

Subtotal: $58,662

Vehicle: $5,500 (estd.)
Condo: $150,000 (estd.)

Total: $214,162

*Liabilities:*
Mortgage: $34,824

*Net Worth:*
$179,337 (+$3,997)

Edit: I have 11K of TFSA room, so some of my unallocated savings will be going to towards that. I just haven't decided what to invest it in.


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## My Own Advisor

Impressive..."I managed to save 40.3% of my after-tax income, a total of $12,138."

Well done Nathan79.

Regarding the TFSA, you can always index: XIU, XIC, ZCN, VCN, are some good CDN ETFs. Alternatively, you can always own CDN bank stocks, telcos or energy stocks.


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## nathan79

*Quarterly Report*

Update for first three months of 2015...

*January*
Earned: $3073.03
Spent: $1230.09
Saved: $1842.94

*February*
Earned: $2513.42
Spent: $1200.88
Saved: $1312.54

*March*
Earned: $3809.26
Spent: $1859.50
Saved: $1949.76

Total 3-month savings: *$5105.24*

(March figures includes tax refund.)


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## OurBigFatWallet

I may have missed this above but have you reached your maximum RRSP contribution limit? I ask because I noticed there are unregistered accounts, and it may be more advantageous to put the investments in an RRSP for the tax deferral


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## nathan79

OurBigFatWallet said:


> I may have missed this above but have you reached your maximum RRSP contribution limit? I ask because I noticed there are unregistered accounts, and it may be more advantageous to put the investments in an RRSP for the tax deferral


Without checking the exact figure, I think I have about 60K in unused RRSP contribution room.

This year I made a $5800 contribution. But I'm still in the lowest tax bracket, so I'm not too worried about maxing out my contribution. The non-registered account is dividend paying stocks and etfs, which are taxed quite favourably already.


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## scorpion_ca

But you wouldn't pay any tax if you invest in RRSP. Why do pay tax when you have the opportunity not to pay it? You can grow your money tax free.


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## peterk

scorpion_ca said:


> But you wouldn't pay any tax if you invest in RRSP. Why do pay tax when you have the opportunity not to pay it? You can grow your money tax free.


Nuh uh. Nathan is in BC and in the lowest or second lowest bracket. He actually gets a refund for earning dividends (negative tax) and is only paying ~10% on capital gains.

Putting anything more than a minimal amount into RRSP to get out of that 2nd tax bracket would not be at all a good idea for him.


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## nathan79

*April-June Update*

Well, another three months gone and time for an update.

This was a challenging time for my savings. I didn't make a lot of money over the last three months, but somehow managed to spend like a drunken sailor.

I guess sometimes I concentrate so much on saving that I let everything coast along to the point where I can no longer ignore it, and eventually there is a need to "catch up". There is also the fact that I was working a bit less so I had more time to spend money, which never ends well.

Here are just a few items that put a dent in my savings over the last three months:

New bed: $879.89
Dentist: $385.80
Car Maintenance: $161.65
Driver's Licence Renewal: $110 
Tools: $126.92
Misc Entertainment: $310.14


Anyway, here's how it broke down:

Net earnings: *$+6352.99*
Spending: *$-6925.49*
Savings: *$-572.50*

Compounding matters, my investments are down in value this year. I'm not particularly concerned for the long term, though.


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## nathan79

Wow, what a train wreck last year became. I stopped updating this because my level of spending was embarrassing and there was little or no progress to report. Factoring in the down market, I'm pretty sure my net worth hasn't increased at all over the last year, but I'll figure that out later.

Rather than do a detailed post-mortem, I'll just post whether my savings were positive or negative for each of the last six months...

July: +658.22
Aug: +735.66
Sept: +61.47
Oct: -103.61
Nov: -798.98
Dec: +462.46

3-month savings: -440.13
6-month savings: +1015.22
9-month savings: +442.72
12-month savings: +5547.96

Not great, but I actually thought it would be worse than this. The first three months of the year were strong, but I clearly went off the rails in April.

Strangely, that coincides with when I started losing weight. I managed to lose 18 lbs last year, but I think I've been replacing food with online shopping.


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## peterk

nathan79 said:


> Wow, what a train wreck last year became. I stopped updating this because my level of spending was embarrassing and there was little or no progress to report.
> 
> 
> Strangely, that coincides with when I started losing weight. I managed to lose 18 lbs last year, but I think I've been replacing food with online shopping.


Nahh don't be embarrassed or beat yourself up man. These are our personal diaries and we aren't your family or colleagues. It's best for everyone if you're honest with yourself and us, good times and bad. Glad you are back here updating. 

That is stupendous weight loss, and a significantly more important goal than any savings goal, IMO. I manage to save some ~$50k/year and I'd still consider that a much bigger success than mine. My 2016 goals are all health and wellness related, saving money is secondary. After a 2012, 2014 and 2015 injury, of which the 2014 is the only one fully healed, I am fully committing myself to improving my body and mind.

Money is only money, after all. You could make a billion dollars and lose it all over your lifetime, and in the end you are still you. Your body and your mind are your life, and you are stuck with them forever.


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## nathan79

Big changes... I recently sold my condo, and I did better than expected, so my net worth increased a lot.

Cash: 208,763
Equities: 27,289
Car: 4,000

Net Worth: 240,052 (+60,715 since I last calculated a year and half ago.)

I put most of the cash in Tangerine for the 3.25% offer until I decide what to do with it.


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