Whoops
Debts
Mortgage -
Total Debt - $25 076.86
Savings/Planned Spending
TFSA/EF - $5000
RESP - $17 250
RRSP - $7600
DS2's trip -$1340
Plates 2014 - $1200
College Savings - $1900
Well I am glad I made my $2000 goal for my TFSA this year. The sad part is that $5000 is /was one year's max contribution and I started a few years ago. Ahhhh if only :-)
Reality check... the TFSA plus the RRSP, after ALL that work to save....only nets me
$12 600, which would about 4 months of a true emergency no money or 6 if we cut everything. The bright side of that is, if something happened, I have about 4-6 months of emergency money LOL Ahhhh sweet perspective.
3 comments:
Jolie - don't count your RRSP as an emergency! If you were to withdraw you have to pay taxes on it and would not get near the full amount! (I learned the hard way) you also don't get the contribution room back. TFSA's are much more forgiving. There are rules about timing of what you can put in and take out - but it never takes away contribution room because you made a withdrawl.
Your numbers look better every month!!
You are right BKat. Twas more of me playing rounded off savings to remind me how far I have to go. Not good you learned the hard way :(
B-Kat's right - I won't be putting any money in RRSPs anymore, just my TFSA once I retire in June (I won't have earned income anyway after next year's taxes). But still you are saving and that's what's important!
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