It’s been a whirlwind here lately… I was offered – and I accepted – a new job (more to come on that), I left my old job and just last week, I started in my new position. New role, new office, new colleagues – super exciting, but also a little nerve-racking.

Now, on to our May finances!

  • $10,722 in RESP contributions – We contributed $1,320 in May, bringing our year-to-date total to $6,540, so we’re very much on track here.
  • Make at least 5 extra mortgage payments – None made yet. Still waiting on that arbitration ruling… Even once the ruling is in, it will take several months to implement the new collective agreement, so I likely won’t get my backpay until the second half of 2018, meaning I likely won’t make any progress on this goal until then.
  • Annual spend under $75K, including at least 4 months under $6K and at least one month under $5K – Our May spend was pretty good, coming in at $5,574.04, and bringing our year-to-date total to $36,365.22. The bad news is that we’re still very off target here (overspent by about $5K to this point!), but the good news is we’ve now hit one month under $5K (January) and one month under $6K (we still need at least 3 more under $6K). Some expenses of note this month:
    • $2,286.63 in mortgage payments. May is one of the two months this year in which we’ll have 3 mortgage payments (we’re on a bi-weekly payment schedule).
    • $500 for our Autopac (car insurance) deductible for a car accident we got into earlier this year.
    • $105 in work lunches for me. That’s waaaay more than I typically spend on this, but seeing as I was leaving a workplace i’d been at for nearly 9 years, there were a few colleagues I wanted to spend extra time with last month. Well worth it.
  • NOT incur any consumer debt – None incurred, so on track.
  • Assemble a binder of financial information – Did not make any progress in May, but still on track.

Well, April was ugly, but May wasn’t too bad at all… just goes to show, there will be terrible months, or maybe even terrible years, but you can’t let those get you down, or worse, make you quit. Saving for life’s big goals (being mortgage-free, kids’ education, retirement, etc) is definitely a slow and steady process, and there are bound to be setbacks along the way…

Here’s hoping June follows in May’s relatively frugal (for us anyway) footsteps!