Update: June 2014 Budget & Goals

REMEMBER: You can download this budget template!

Happy Canada Day, friends! Do you have any fun/exciting plans for today? I came home from Victoria last night, so am probably just going to get groceries, bake muffins (lemon raspberry, mmm) then get some writing done. You know – just another regular day over here. Although, if it warms up to 32°C (90°F) like it says it’s going to, I may have to go read a book in the sun!

June was technically the first month of summer, and that can be seen in this budget. I track my spending weekly, so I knew I was going to be way over budget this month, but it still didn’t feel good to add in the final numbers last night. However, considering how much travel I did and how many gifts I purchased, I’m impressed the final totals aren’t higher. Let’s look at how June’s budget and goals finished up…

I met my savings goals, which was great. Everything under housing and health care also came in on budget. And even though it felt like I drove a lot this month, my actual transportation costs still came up short. Huh.

Travel, on the other hand, was a little more expensive than I’d planned for. Even though I was only in Toronto for a week, I ended up spending even more than what I’d felt was an already-sizeable budget. And I only budgeted for one of my ferry rides to Victoria, because I didn’t think I was going to come back until today (which would’ve been in July’s budget).

Should we talk about food next? I had this master plan to lower my restaurant budget this month, and really restrict how much I’ve been spending on coffee and treats, and I just gave up on it. Actually, I was doing pretty good until I went to Victoria, where two brunch dates and two dinner dates (literally) ate up more than half of the total you see here.

Finally, “my money”. For starters, I bought myself a new wallet, a little black dress ($20 at H&M), a couple basic tank tops and some iron supplements, which put me over budget for personal care items. I also donated $25 to a friend who participated in a walk for Lou Gehrig’s Disease. And then I gave gifts to my heart’s content: to Mom for her birthday and Baby Bro for his graduation.

While I hate seeing overages at the bottom of any budget, this one worries me less because I received some freelance income this month. I don’t know if I’ve announced this yet, but I’m now contributing to Tangerine Bank’s new blog. I wrote a few posts in May, which I received payment for this week. Oh, and my first post for The Globe and Mail’s Education Lab was also published. I’ll link to those at the bottom!

In the end, I put 19% of my income in long-term savings, spent 35.5% on housing, 9.5% on food, 8% on transportation, 11% on travel, 3% on health care, 3% on myself, 8.5% on gifts for others and I donated 2.5% to charity. When I look at it that way, it doesn’t seem so bad… but I’m still going to take on a new challenge next month, which should make July’s budget look a little better than this one does.

Goals for this month:

  • Map out summer travel dates/monthly budgets – PASS!
  • Transfer pension into RRSP – PASS! Well, I filed all the paperwork, but I’m still waiting (somewhat impatiently) for it to be deposited into my account.
  • Read 2 books – PASS! I read Delancey and The Opposite of Loneliness.
  • Workout 4x/week – FAIL! But I worked out 10x this month, which isn’t bad…
  • Do a 30-day plank challenge – FAIL! I did this for 7 days, then forgot about it the minute I landed in Toronto, lol.

How did your month finish up?

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Guest Posts Published in June:

2014, Jun 27 – No “Lost” Time in Taking a Gap Year – The Globe and Mail
2014, Jun 24 – The Best Reason to Pay Off Your Debt – Tangerine Bank
2014, Jun 22 – Can’t Handle Summer Gas Prices? – Gail Vaz-Oxlade
2014, Jun 20 – 10 Small Sacrifices to Save Money – Tangerine Bank
2014, Jun 15 – My Favourite Restaurants in Toronto – Gail Vaz-Oxlade
2014, Jun 08 – How a List Controls My Impulse Purchases – Gail Vaz-Oxlade
2014, Jun 01 – Misinformed Youth – Gail Vaz-Oxlade