January Savings Goals

Savings Jars

What did I get up to this January?

After broadcasting how much I saved in 2014 — shouting from the rooftops really — I tumbled into a slightly disruptive January. On the SECOND day of the month my 2.5 year-old cell phone promptly died. This wasn’t a big surprise as it’d been acting up since September, but while I had some money put aside it wasn’t nearly enough to cover a new phone outright! Add in some drama with my phone company and voila, a big costly headache.

Also? During our fantastic trip to New Orleans for the holidays, my boyfriend and I got dinged by the constantly sinking dollar over the holiday break. Since many of our purchases were made over the week of Christmas, we ended up losing over $150-200 extra in dollar differences by the time all of our expenses showed up on our credit cards about a week later.

But let’s keep it positive, shall we?

January Achievements?

  • I read five books this month! Several on my new e-reader (although I’ve been having some Kobo issues, it seems to hate my sideloaded books…)
  • I only spent $4 on makeup last month, not bad not bad.
  • I started going back to the gym!
  • I’ve done at least one artsy/social event a week, oh hai friendz
  • I stopped being a total cheapskate and bought some new winter boots

January Savings Goals – By the numbers

TFSA/Emergency Fund

January – Goal $600/month. Actual: $600

Yeah, this was very hard this month, I actually went to the second last day of the month before dropping my final $200 in to make this goal. As I said, January was spendy and I didn’t want to rob February to make up for it. But I managed to pull it together in the end. 10 points for Gryffindor!
10 points for Gryffindor!

RRSP

January – Goal: $300/month. Actual: $250 ($250 in my Tangerine RSP Mutual Fund)

I wanted to bump this up to $300 for the next few months but didn’t get myself organized in time. Aiming to chuck a little extra in this month before the March 2nd RRSP deadline. (DEPOSIT YO’ MONIES!)

Vacation Fund

January – Goal: $100/month. Actual: $75, automatic monthly withdrawal. Joint account with my boyfriend.

This line-item has looked so similar for so long and I spoke with my boyfriend about upping this account to $100 a month. Unfortunately because of all the unexpected expenses at the onset of the month, we decided to hold off until February. Next vacation goal? Euro-trip in the fall!

Short-Term Savings

(i.e. Planned Spending)
January – Goal: $100/month. Actual: $0

Yeah, I had some expenses this month that needed tending to and didn’t get to this account. But it could be stated that I actually planned to spend, and spent?

Savings Goals Round-Up

January Savings Goals: $1100. Actual: $925 or $1025 depending on how you look at it. (-$75-175)

So maaaaybe I reached a bit high for January. I should’ve known better than to implement a higher savings bar in the month right after Christmas. But what can I say? You can’t achieve if you don’t try!

February Goals

  • Finally transferring my high interest RRSP account into another one of my RRSP accounts. I have 3, it’s excessive. And guess what? I filled out the paperwork TODAY! It’s all happening!
  • Making more lunches! It’s one of the easiest ways to save money from my food budget. At least 3x a week.
  • Tea no-buy. You heard me.
  • Go to the gym at least 8x this month!
  • FINISH four books. Not read, FINISH. It’s cold, it’s snowy, this shouldn’t be so hard… right?

I’m also currently competing in Gail Vaz-Oxlade’s Hardest Ever to Win Contest and I want to make it through February! But more about that later…

What are your goals for February?

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