Money in.....................money out

Well as quickly as it came in, it has gone. Money in, money out. One day I am 'rich' and the next I am back to same ole same ole. It was such a sense of elation to get the cheque and rather bittersweet for it to be all used up.


I have to admit that temptation reigned supreme as I struggled with what I wanted to do with the money and what I SHOULD do with the money.


So what thoughts entice me away from my goals and purpose???

1) I would love to put the money down on a trip to take my boys to either Toronto/Niagara or else out to Victoria. I have exactly two summers left before DS1 is graduated and our world  changes. I am running out of time to do this.

2) I could take them away during the Easter break. Our quick jaunt away in February did wonders for our spirits and our mother/sons bonding time.

3) I spent some delicious moments at arbonne.ca. I love their products and I could spoil myself greatly with some product.

4) I could go get my hair cut, coloured WITH more than one tone, and a nice pedicure for my winter ravaged feet.

5)  I could buy these amazing Michael Kors shoes for $160. Forget that I have

NOwhere towear them LOL

6) I could succumb to temptation and buy an Ipad or Ipad2 for about $750, plus case, plus accessories, plus plus plus.

7) I could run, not walk but RUN to amazon.ca and clickity click order my Kindle and a boat load of new titles for the boys and I. I'd share. Honest.

8) When we were in Edmonton, I visited the Michael Kors store and drooled over this purse (before the clerks 'you don't belong here' looks got to me. It is only $300 ish lol

9) OR I could throw all caution and sense to the wind and get the purse I drooled over for the low price of $2295.

so what did I do????????? I was boring, dear readers. very very boring. I marched myself to my bank yesterday, deposited the  money into an account and then had them whap $1200 down as a lump sum payment on my loan. That was the equivalent of 2 months' payments. Instead of it being done June of 2014, I am now at April of 2013. My goal is to have this paid off before DS1 finished Grade 11, which means June 2012.

ahhhh but it was nice to dream.

A nice bump to my snowflake jar

A blizzard of dollars has made its way to Saskatchewan. It joins what is hopefully, our last snow of this winter which is coming today as well.

One thousand two hundred and forty  beautiful lil irridescent droplets from the sky. Well Ok it's from the Federal Government.

Now often a person doesn't like it when a bunch of guests pop over but I'm glad these guys came. In fact, I wish they had brought more friends with them LOL

I will pop my refund onto my snowflake jar for March. I will get to see them for a very short period of time and then they will leave again.

Welcome snowflakes. thanks for stopping by!!

A sidebar completed

Thanks to that happy joyous day called PAYDAY, yesterday, I was able to complete a sidebar goal. I spent about an hour running around to my two banks and I did so happily :P

At bank one I deposited some cheques and withdrew Jar $ for the week. At bank two I deposited some cheques and moved money into my High Interest Savings. I was able to move enough to finish off my new (this year) goal of Back to School $1500. It is going to be a big relief to have that money when it come time to pay school fees, buy school supplies, and put some towards those back to school extra curricular activities. It looks all pretty and green and 100% filled in.

I have three savings goals left on my sidebar. I will complete them in the following order:

• Christmas - $1400
• RRSP - $1500
• TFSA (EF) - $1000

Barring unforeseen problems, the Christmas goal will be finished at the end of July.

This n That

wow it feels like I never get here anymore. I have been reading diligently, all the wonderful things you have all written,but I haven't had a chance to sit down and write.

There have been 2 funerals in my world in the past week. Very tragic circumstances. One was a lady who sometimes worked at our school (casual) who was unwell last week, diagnosed with cancer by Friday and passed away yesterday. It's so  unbelievably sad. The other was not 'natural causes' and very sad too. We had word this week as well that two other teachers in neighbouring schools have been diagnosed with cancer, both very late stages so it either progressed  quickly or they were diagnosed late. Our school staff communities have been pulling together trying to support in whatever ways we can.

We need so very badly for spring to come. Everyone is sick at work. The lack of sunshine this winter has caused folks to be more sad/depressed etc.

DS1 is still on the hunt for a part time job. While I can't go IN to the stores with him, I am having to step him through the process. We did a resume together and I have shown him how to fill in the different kinds of application forms. I stepped him through how to speak to a manager, the things to say and the things not to say. I hope something comes around for him soon.

There have been lots of family issues at school too, with  my students. I've been doing lots of one on one counselling and it starts to take a toll on a girl.

Beyond that, it's payday today. I will be busy today transferring  $ around and taking care of some bills. There should be a few sidebar updates soon. My tax refund is not yet in but as soon as that is in, I will be applying that to my vehicle loan.

The winds have been bitter cold this week so it's been inside recesses. We are all going a little bit stir crazy.

A great classroom visit

I was really excited to welcome two visitors to my class on Friday. They both work at a local bank and are there on behalf of a program called Junior Achievement. One of the girls is the one I taught who handles my RRSP.

We are currently exploring careers, budgets and money in our Career Guidance course and this fit in perfectly. The ladies spoke  on money with my students. They described the different forms of currency (cash, debt, prepaid cards, credit cards) and how all those systems really work. I was surprised to learn several of them didn't REALLY understand the concept of debit cards vs credit cards. They spoke on how important it was to establish a good credit history and how things like their cell phone bills can affect it, even at their early ages.

They played money/budget bingo  and ran through a bunch of consumer purchase scenarios. The ladies taught them about consumer rights and business owner rights.

It was a fantastic opportunity for my kids to ask questions to 'real money people', and ask they did. It was great and it is a presentation I am going to continue to book, year after year, as I think the lessons they learn are really important.

Income Tax Time

It's the most, wonderful time of the year. I can almost hear that song in concert with a Staples school supply/back to school commercial.

We finished doing our taxes over the weekend. I am getting a refund and it is up from last year. I am slated to get just over $1200 back. Last year, it was $700 ish.

Why the increase? I had $500 more in RRSPs which shouldn't make a huge change. The larger difference was in who gets to claim the children. Legally it goes to the parent with the lower income and for the past 10 years or so that has been the boys' father. Now it has changed a bit for reasons I don't understand, and I get to claim part of it. wheeee. More of a refund for me.

For a family who has 100% joint finances it would not matter as the money would all go into one pot. For use though, you long time readers will recall that we operate separately. DH would get to claim then and whatever refund he got was usually frittered away. My refunds would go to debt or necessary expenses for the boys.

I was very curious how much the RRSP contributions affected my return. I wanted to make a relatively informed decision on whether I should just forgo RRSP and put the money into my TFSA. She recalculated my return, hypothetically removing the $1500 RRSP. In this scenario, my refund was cut in half. Without RRSPs I would get back just over $600. So yes, RRSPs are helping me and for now I shall continue them.

The big question is what to do with the refund. The PF blogger in me says to use half of it for a lump sum payment on my loan, and the other half to buy DS1's new hockey skates (which will cost at least $600).

The 'boy I'd like to ENJOY this refund' side of me would love to do something fun with it. I could put it aside and take DS1 to Toronto this summer for a few precious days of mom and son time, while DS2 is gone to BC for Scouts. I could get carpet in my bedroom to replace the 25 year old atrocity that is in there. I could get us each new comforters and sheets as it is well past time to replace them. I could do the painting needed as my walls are starting to show wear and tear after a few years of furniture movement, hockey bags etc. I could put the $ aside towards a trip for the boys and I to Niagara Falls or Victoria, as I only have 2 years left before DS1 is gone.

My default seems to be the practical side - option 1.---- 1 lump sum payment and skates. I do yearn for more fun though.

Where the Money Stands

as of March 8, 2011

Debts
Mortgage-  $34 693.51
Vehicle Loan -  $14 270.12
Total Debt - $ 48 963.63

Savings
EF (TFSA) - $2000
Summer 2011 - $1000
Back to School - $742
Total Savings - $3742

Planned Savings
RESPs - $6800
RRSP - $2500


This month my debt dropped by $769.20. Not as much as I would have liked but it is a work in progress.

My "jars" piechart

So I thought I'd play around with, and relearn how to make Pie Charts. I chose my Monthly variable expense jars as the focus of this one. It was a very powerful visual to see the colours manifest. Wow my kids eat a lot. While that big chunk of red is groceries AND home, the majority of it is groceries. Then again, watching my two bottomless pits eat constantly (and still thin as rails) I realize it really is a big part of our life. There is always room for adjustments and better meal choices; for more frequent menu planning and more food from scratch. I can continue to work on that.

What is in my jars?

Here is the weekly snapshot.

Groceries and Home: $170
Gas:  $50
Entertainment: $40
Spending (my own allowance): $20
Clothing and Gifts: $25

The last item on the list is the one which needs the most boosting and that will come, eventually.

It's Telemiracle Weekend (and the Briar, and report cards)

It's a busy day round these parts. Firstly it's the end of Telemiracle Weekend. Telemiracle is an annual Telethon/Fundraiser in Saskatchewan. It's been going on for 36 years now and I can remember watching all through the night as a child. The money raised goes to help individuals, groups or heath care facilities across the province. Among the national/international talent, they audition for local Saskatchewan talent. Happily, my youngest niece and her friends were chosen and their band got to perform live in the wee hours of the night. Auntie taped it as she doesn't have the stamina anymore :P

The Canadian Men's Curling Briar started yesterday so I've been keeping that on as I am working and doing marks. I am hoping they feature a SK game soon.

My house needs attention and I have lots more on my to do lists. Top priority are the report cards though.

Supper is at mom's. Thanks mom!!

Saturday This'n'that

What a fast and busy first week back to work.  I was swamped with meetings before school, meetings after school. meetings at noon. It was still bitter cold out but there is just the slightest chance of things improving weatherwise *knock on wood*


Thank you to everyone for your wonderful commiseratory comments about gas prices. It is nice to know the whole country's gas is crazy. One of the mornings on my way to work I saw my station back at $1.119 (8 cents less) but I was en route to a meeting and could not stop. By the time I got home from work, it was back up again. I guess it was not meant to be. I had come home from Edmonton with gas in the tank and I never actually used my gas jar money this week so that money is still tucked aside in the 'gas wallet' so that when I need an oil change or when we have some longer driving trips, there is extra gas money ready.


DS1 is busy reffing this weekend. I told him we're going to start his jar for his share of the vehicle plates. I want him to come up with $400. Hockey season will be soon over and he will need to get on it to find  a job for spring/summer so he can continue to learn how to budget and save. The hard part for him (as it was for me) is to understand that once that money goes IN the jar, that it ceases to exist as money he can spend. We shall see how successful I am with that lesson. I don't know how receptive I would have been if my mother had did that for me, but I honestly wish she had.


As I went to get their allowance this morning I realized that we never got around to handing out last Saturday's. With their consent, it is going in my snowflake jar for DS's plates. $20 towards my goal. wheee


Both my snowflake and my vehicle savings goals  in the sidebar have been updated this morning. It is nice to see them growing. The snowflake jar will grow more whenever the Income Tax refund comes.

I have a bit of banking to do this morning. Once that it is done, there won't be anymore 'banking' to do this month aside from taking out my  last 3 weeks of jars, as each week starts.

Once that is done it is off to the school to meet a couple of other girls and we shall work on report cards while watching the first game of the Briar (Canadian Men's curling). The number of extra hours of work that go in during report card season is high. I've probably done about 8 so far as I mark the last assignments, or locate them, for the students who never bothered to hand them in)

It's still frosty out there and a very light snow is falling. Well hopefully if March comes in like a lion, it goes out like  a lamb.

PS - ohhhhh I forgot to write that our furnace quit on Monday night when it was 40 below out and dropping. I noticed something was off whilst DS2 and his father were at scouts. It just kept dropping no matter how lovingly I encouraged the thermostat to warm it up. When he got home I told hubby that something was off. As per usual he accused me of doing something to change the default settings. mhm like I have nothing better to do than play with the default settings while you are gone just to piss you off when you get home. *sweet lil eye roll*. He tinkered with something and the heat cut in giving him the chance to erroneously say ` I told you so`.  He woke me up around midnight to declare that the furnace was broken. I refrained from saying anything. We made it through the night with quilts and the repairman was called in the morning. This avoided emergency call out fees. It was the switch which was broken. This was replaced and the bill will be mailed. No clue how much that will cost.

Grrrrrrrrrr Gas

$1.199 per Liter

Yup. Gas went up. Again. It's crazy trying to keep up. It jumped 8 cents overnight. We were already higher than many of our neighbouring communities and soar higher we go.

It means I need to think carefully about trips around town and ask  myself if I really need to go, or can I wait and combine trips.

darn gas prices!!