2017 financial goals – February update

February has come and gone, so you know what that means! Here’s where I stand with my 2017 financial goals 2 months in…

• $12,500 in RESP contributions – I put in $900 in February ($1,820 total).  Definitely on track.
• Increase automatic investment amounts ($500/month excluding pension contributions at Jan 1) – I increased this to $900/month in January and that’s still where it stands today, so mission accomplished.
• Annual spend under $80K – Our February spend was $5,427.86 (year to date is $12,772.69).  An annual spend of $80K translates to a $6,667 monthly spend so we’re on track here.  Our February entertainment costs were still incredibly high (just over $500 – I really need to keep an eye on this… it’s ridiculous that we’ve spend over $1,200 on entertainment in 2 months!!) with a Bud, Spud & Steak dinner at the curling rink, several Festival du Voyageur outings, another curling bonspiel, and multiple babysitter nights, but other than that, and a $410 flight for a December trip that I’m taking, the rest of our costs were fairly constant and reasonable.
• Increase our saving % (20% at Jan 1) – In January, I increased this to 24%.  This month, I looked my at pay stub to double-check my pension contributions and they’ve increased slightly, resulting in a slight increase in our saving percentage, which is now 25%.  Mission accomplished.
• NOT incur any consumer debt – None incurred. On track.
• Declutter at least 2 things a day – I made two trips to Value Village this month, donating a total of 103 items (year to date is 253 items, so definitely on track), including:
  • 4 pieces of crib bedding
  • a nursing pillow
  • a plant pot
  • 8 light switch covers (that I’ve had since my early 20s when I thought ‘fine art’ meant hodgepodging magazine pics onto them!!)
  • 5 items of clothing
  • 5 books
  • 6 magazines
  • 5 liqueur glasses
  • 4 wine glasses
  • a bag of 64 little knick-knacky toys (cars, stuffies, play tools, Happy Meal toys, bouncy balls, action figures, etc.)

There you go – month 2 is in the books!  And I’m still happy with my progress!  Will keep an eye on entertainment costs though…

Talk soon,

LS