So, here goes!
| Net Income: | $2,636 | Savings | ||
| Pension | $168 | |||
| Fixed Expenses | Emergency Fund | $75 | ||
| Mortgage | $698 | Vacation Fund | $250 | |
| Taxes | $160 | Total | $493 | |
| Condo Fees | $75 | |||
| Hydro | $55 | Life | ||
| Water | $35 | Food | $300 | |
| Gas | $60 | Clothing | $50 | |
| Total: | $1,083 | Gifts | $43 | |
| Entertainment | $60 | |||
| Planned Spending | Gym | $11 | ||
| Extra Mortgage (2) | $59 | Technology | $145 | |
| Insurance - Home | $25 | Magazines | $8 | |
| Insurance - Car | $79 | WW | $22 | |
| Car Maintenance | $50 | Total | $639 | |
| Licensing | $5 | |||
| Total: | $218 | |||
| Transportation | ||||
| Gas | $200 | |||
| Total | $200 |
I know that I'll have a few changes to make after the first month. I filled up my gas tank for $43 when I first bought the car and it got me to 1/4 tank after 9 days. At that rate I'll generally only need about $140/month unless I do mini-road trips.
I also guessed at what my utilities would be. Since the condo is new I can't see there being many issues with hydro inefficiencies, and I've never paid a water bill, so that was definitely just a guess!
The one element that is missing from my budget is my RRSP Home Buyers Plan payback. I need to pay back about $23,000 over the next 15 years (1/15th/year), begining in 2012 totaling $128/month.....however, for 2012 I will use my tax refund instead of pulling money out of my budget each month. This may be adjusted for 2013.
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