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June 2013 Moms
momofcatan
member
$ Weekly Money & Budgets Check-In $
momofcatan
member
This is a personal topic, feel free to give dollar amounts or not, or to skip any questions you do not want to answer.
1. What is your budgeting/savings goal? How close are you to completing it?
2. What are you doing this week to help you reach your goal? What are you proud of?
3. Pick a budgeting or money saving tip to share with everyone.
4. How do you keep track of your spending and saving?
5. Any question for the group?
GTKYs:
@Lizzybizzy80 I've been thinking of you. Hope everything is going OK.
1. What is your budgeting/savings goal? How close are you to completing it?
2. What are you doing this week to help you reach your goal? What are you proud of?
3. Pick a budgeting or money saving tip to share with everyone.
4. How do you keep track of your spending and saving?
5. Any question for the group?
GTKYs:
Do you have an emergency fund? Do you keep it separate from your other savings?
Are you saving towards retirement?
-----------------------------------------------------------------@Lizzybizzy80 I've been thinking of you. Hope everything is going OK.
This discussion has been closed.
Re: $ Weekly Money & Budgets Check-In $
2. What are you doing this week to help you reach your goal? What are you proud of? Called the cable company to downgrade our package, saving $20/month.
3. Pick a budgeting or money saving tip to share with everyone. I feel like talking to people and being accountable is such great motivation. That's why I want this check-in to keep going. Also I want all the tips and tricks!
4. How do you keep track of your spending and saving? Mint
GTKYs:
Do you have an emergency fund? Do you keep it separate from your other savings? We have all of our savings lumped together (except RRSP for retirement). I make sure some of it is easily accessible as our emergency fund. It could probably cover about 1-2 month's expenses
Are you saving towards retirement? Not currently. We have about $20k in RRSPs (Canadian, 401k-like) but have not added to it since buying our house. I spoke with DH about it and we decided that we are going reshuffle our budget and set up regular contributions before we hit 30 (I'm 26, he's 27) and right now concentrate on putting money into the house. Basically I'm praying we are making more money in the next 3 years, not the best financial plan....
I wasn't sure if we want this to me more of a motivation to save or just a general discussion of personal finance stuff. I was just about to post in the spam (and might still post) that I would love for anyone to come in here and post a helpful tip or blog post they read, even if they don't want to participate in a "check'-in".
2. I'm proud of how we handled DH being let go/quitting, no fights about money. It would've been an extra $1,000/mo to add him to my health ins so we found a policy under ACA for $250/mo. We stopped our maid service to cover the $250.
3. Check all your insurance claims/hospital bills for mistakes. I almost always call and ask them to go through the statement with me. I've saved a lot this way.
4. Mint and excel
5. Where is @steamboat123 ? Miss you!
Gtky: our emergency acct is part of our capital one 360 acct. We shouldn't have to dip into it while DH isn't working unless something unexpected happens. We are on hold for contributing to retirement.
My view on TFSA: Use it as long as you are not planning on taking out money very often (but feel free to add regularly). There is very little to be lost and the advantage will be that you do not pay tax on any interest you make. This might only amount to a couple dollars, but better in your pocket than the government's. You can have a plain old savings account as your TFSA or invest the money in something more long term. The contribution limit is $31,000 now (each for you and your spouse). You can withdraw the money whenever you want and you get that contribution space back at the start of the next year, you don't need to worry about the space being wasted if you decide to pull the money out.
Heads up though, if you are a US citizen I think the US can collect tax on the interest. For that reason we only have TFSAs in my name, not DH's.
Can any Canadian moms verify my info? I'm 99% sure its all accurate.