July 2014 Savings Goals

Summer is over?!

The first week of August hangs at the very top of summer, the top of the live-long year, like the highest seat of a Ferris wheel when it pauses in its turning. The weeks that come before are only a climb from balmy spring, and those that follow a drop to the chill of autumn, but the first week of August is motionless, and hot. It is curiously silent, too, with blank white dawns and glaring noons, and sunsets smeared with too much color. Often at night there is lightning, but it quivers all alone. ~ Natalie Babbitt, Tuck Everlasting

Summer is half-over! Queue the frenzied plans to hit the beach, visit a cottage, go to the Toronto Islands, suntan, finish all the summer reading I never touched, etc, etc, etc. But until then, it’s time for my monthly recap.

hotdogs

As I mentioned in June’s savings goals post, I suffer from hardcore FOMO during July. So, to counter this problem, I decided to embark on a JULY NO-BUY for some of my more pernicious categories. NO makeup, NO clothes, NO shoes and NO looseleaf tea (don’t ask).

So how did I do?

In July I bought a $10 sunhat, a $20 pair of bike shorts and spent $6 after using a gift card to buy some work clothes. No makeup or personal care products, no tea. So all in all? Great success!

However, I ate out, A LOT. You can only keep the FOMO monster at bay in so many ways, BUT I think I did a good job defeating the July FOMO monster (I was also sick for a week or so… but hush) and I can’t wait to loosen the reins a bit and enjoy August!

TFSA/Emergency Fund

June – Goal $500/month. Actual: $500

Still keeping the TFSA high this month because I worked doubles in the evening early this month for the Toronto Fringe Festival! It WOULD be higher but we had a slightly large vet bill to take care of at the end of last month and a follow-up this month, so this dropped a squish.

RRSP

June – Goal: $250/month. Actual: $250 ($150 through work RRSP, $100 in my own)

This was my last month at my old job, so I still have automatic payments coming off of this, but I also set up my own RRSP with Tangerine in a Moderate Growth profile and I’ll be contributing to that account going forward.

Vacation Fund

June – Goal: $75/month. Actual: $75, automatic monthly withdrawal.

Creeping up there, with a plan for New Orleans in the fall!

Additional Savings

(i.e. new laptop fund, new phone, couch, big-ticket items)
June – Goal: $50/month. Actual: $100

Die laptop, die

Within a month, my laptop went from taking 15 minutes to start-up, to not recognizing my AC adapter, to randomly over-heating and shutting down. Sooooo I went and bought a Lenovo Flex 2 this month to replace my little dinosaur. Thankfully I’ve been over-paying into this account for a few months and I’m ahead of schedule. Whew.

April Savings Goal: $625. Actual: $550 (-$75)

May Savings Goal: $800. Actual: $975 (+$175)

June Savings Goal: $825. Actual: $825 (+$0)

July Savings Goal: $875. Actual: $925 (+$50)

Plans for August

I just started my new job so these numbers are going to go a bit higher than previous months (because I’m making more money!) I think I’ll reach my TFSA goal by September, or October at the latest, so I have a few extra months to sock away some money into it. I’m going to aim for $900 in savings in August, but this is a HIGH BAR to reach. We have our first utility bills coming from our new apartment and I’m not sure what to expect! But here’s hoping.

How was your July? Do you suffer from FOMO like me? What are your August savings goals?

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