think warm thoughts!!

Here is a weather snapshot for our weekend here in Saskatchewan that shows the temps with the windchill.

 

Coldest start to March on record. ever.

 

It's going to be fun!

 

 

Change for February

It was a short month, where I spent most of it with an ear then a sinus infection. I usually like February but we really weren't that great of companions this 2014.

Change this month was not too bad. I happily added it as snowflake money towards my current goal of Summer 2014.

I had:
1 roll of toonies - $50
1 roll of loonies - $25
1 roll of dimes - $5

for a total of $80 in change this month.  Keep in mind that often when I shop for groceries with cash, whatever coin change I get goes  into the snowflake jar, rather than back into the grocery jar.

RRSP Update

As I work my way through the piles of non time sensitive mail that accumulated while I was sick, I see that I received my RRSP Update.

At the last RRSP update in November, I had a value of $6376.13. The portfolio had gained $260 between Nov/13 and the prior update in Aug/13.

Since then I added $1500 at the end of 2013 that I had saved. At the least I was hoping for the straight math addition of $7876.13.

You can imagine my smiles when I saw that my consolidated portfolio is now worth $8162.46. That gives me an increase of $286.33!

My account remains divided between Canadian Bond Fund (40%) and Canadian Equity (60%)

The gain comes purely from the Equity. It had a gain while the Bonds had a loss.


Since I started my RRSPs, I have invested $7000.

I do wish I understood more about investments so I could feel more informed about what everything means.

Goal!!!

Ok I am tuning in to the Can/US women's hockey game shortly, but that isn't the goal I am cheering for.

I am happy to say that as of 30 minutes ago, I have now achieved my TFSA/EF goal of $2000.

I headed down to the bank to make the final deposit and have them do the paperwork to make it all official.

I have scrimped and skimmed, mostly from my grocery account (hello pantry and freezer cooking) and used most of my spending money each week ($20/week) and a bit from gas.

I now have $5000 in my TFSA account. I am excited about that but I also recognize that $5000 was the yearly allotment I could have put in for the first year of my TFSA, which was 2010 I believe. As of now I could, in theory, have $25 000+ in there.

But I must be happy for what I have done, and promise myself to keep at it each year. I have approximately 11 years of work left, so hopefully I can add at the very least $25 000 to it before R day.

For  those of you Canadians with a TFSA out there, do you have it in a regular savings account or do you have it in a fancier form of investment? 

a PF read

I got this book recommendation off someone else's blog early in January, but for the life of me I cannot remember who. If it was you, thanks so much!

Over the weekend I read Stop Over-Thinking Your Money: The five simple rules of Financial Success, by Preet Banerjee.

I've read a few PF books over the years and this does a good job. I am a die hard Gail V-O fan, but I love reading the POV of others as well. Sometimes they may just say it in a way that resonates with me.  It's worth checking out if you are ready to make that step to learning more about how to be in control of your money.

As I read my latest Money Sense magazine today I saw Banerjee and this book mentioned. I had never connected that he was a contributor regularly to the magazine. small world.

Hey! Who knew???

 

I feel like the guy with very few lines in Sandra Bullock's movie "While You Were Sleeping"  :-0

So apparently when I was out sick and off the grid (and on the couch), Jeremy over at

 Modest Money,

was sweet enough to put me on his fantastic poll for Top Canadian Finance Blog.

 Whilst it is a little late for a voting frenzy for moi, what you can get is a great list of blogs that are Canadian and some new PF friends. That's not even mentioning the great reading you get at Modest Money.

So head on over and read some of Jeremy's thoughts on money and life, and get your right click ready to bookmark some future blogs to read.

Thanks Jeremy

http://www.modestmoney.com/top-canadian-finance-blogs-poll-2014/

Meeting the bank re:RESPs

We are off next week (in lieu of the traditional March break which I believe most schools get). It used to be called "reading week" when I was in University - a time to study and get essays done before the push for finals began. In reality, I doubt much reading was done. Those who could, jetted away for their spring break. The rest of us peasants went home to hang with family and friends.

I called this week to set up an appt next week to talk with the rep at the bank and find out more information about my RESPs (Registered Educational Savings Plans for those outside of Canada). With DS heading off to college, I will need to find out how I go about accessing those funds when I am ready to.

Right now I have a little over $16 000 in the account.

DS2 turns 17 this calendar year, so according to this webpage, the government grant I get for making these deposits ($20 for the $200 I put in each month), ends this year.  That will leave me the remaining 6 months of his Grade 12 year and then he graduates.

Now I can keep putting the money monthly in this RESP account after this calendar year, but would no longer receive the grants.  I am not sure of the benefit of doing so as opposed to putting the money in a high interest savings account. Do I receive interest within the program? I know, I should know this.

By the time DS2 is done high school I will have about $20 000 in the account (unless I have removed some for DS1's schooling) That gives me about $10 000 per child to help them out.

I really wish I had started this earlier, or been in a position to start this earlier, but my time machine is broken and I can't change the past. I am beyond grateful for whatever prompted me to get this started when I did a few years ago. It gives me, as I said, some cash to help them out. It also demonstrates very clearly to me that $200 a month, set aside consistently month after month, can really add up.

Any insight from current RESP users and withdrawers will be most happily welcomed. I have a family RESP for those who were wondering.

Link love for Valentine's Day

I have some down time today and  finally have a chance to go through my blogroll and clean out the ones which no longer exist (insert sad face here) and add a few new ones in. If you haven't read these yet, please go check them out. If you have, I probably found the link on your page - thanks for showing me a path to new reads :-)

Caviar and Quarters

Our Freaking Budget

Practical Cents

Michelle's Financial Journey

Enjoy!

Vehicle Murphy

Well after so many years it goes get a bit boring. Roses for Valentine's Day? Chocolates?

How about a new battery? :-)

I have been having problems since January with my vehicle being cranky and not wanting to start, even when the block heater has been plugged in. 

Granted we have had far too many -40C days  this winter, but having it plugged in, whether at home or at work, usually eliminates that concern.

I have had to have DH boost my car a half dozen times since Jan 1. Mostly in the morning at home, but a couple times after school.

My dad decided enough was enough. Had my mom send me a text me just before 9 saying "Stop at suchandsuch and pick up a battery. Dad called and they had one in stock"

I texted back my thanks but I was not free at noon to run - meetings, and I had more meetings after school.

I get a text on my lunch break saying, "Dad stopped and got it for you, come by after your meetings tonight and he'll put it in."
So nice of him.

The cost - $139.31 plus tax puts it at $153.91.

Bonjour Murphy. I could have used that $ for something else. Aside from the new tires I bought this summer, this was the first expense I have really had with this vehicle. I hope this doesn't mean I have now  hit the phase where these expenses are going to happen far too frequently.

If you love your daughter, say it with ....a battery :-)

Where the money stands

as of Feb 8, 2014

Sorry I have been away everyone. I have been down and out with a massive ear infection and chest cold. Almost 10 days later and I still have no hearing in my right ear, except for the fantastic 24/7 ringing and the popping but never quite clearing sounds.  I have been off work but it looks like I am going to have to go in next week. It was hell trying to find subs so I could stay home last week. I am less dizzy and only have some headaches now but am absolutely exhausted. good times.


Anyways... on with the show

Debts
Mortgage - $25 366.12

Total Debt - $25 366.12


Savings/Planned Spending
TFSA/EF - $4000 (plus $400 waiting for it's $600 friends to join them before being officially added in.
RESP - $16 600
RRSP - $7600 
DS2's trip -$1240
Plates 2014 - $1200
College Savings - $1400