Welcome back for another edition of our monthly spend reports.
If you’re new, we use these reports to force us into tracking our spending and holding ourselves accountable. We also break down our income for the month and see whether we’re positive or negative cashflow for the month.
An arbitrary goal we’ve laid out for ourselves is $6,350 per month in positive cashflow which has worked out pretty well as overall that’s about where we’re landing per month.
Maybe next year we will up that a little bit and see if we’re still able to reach it? With a growing baby I would wager that if anything expenses will continue to go up.
Let’s get into the number:
November’s Spend:
So. This month was a hectic one.
We were very fortunate to have one of the Grandma’s in town to help out with our child who’s now an 8 month old wrecking ball. It was sure nice to get at least a couple hours per day of relief on that front.
With the visitor came a few obvious increases to expenses in the food department, we were feeding an extra adult but we also made up some nice roast dinners and ordered in a few times – in short we splurged.
There were also a few xmas presents bought that I had trouble categorizing so some found their way under the misc. heading while I have a feeling some presents fell under kid stuff as well as I know we bought our child clothing but also some friends children.
Everything considered, we had a great month and didn’t blow our usual spending out of the water so we’re happy to see that.
As per usual, next we get to the cashflow for the month:
Our income for the month was right about “normal” as there wasn’t any overtime really to help contribute this month. This is the 8th month we’ve been doing this tracking and so far our overall goal adds up to saving $50,800 and our actual savings is $50,559 so we’re right there where we want to be.
As I mentioned earlier, we might make a slight bump up to this goal – perhaps to something like $6,500 and just see if we can’t bump our savings that extra bit per month.
Next year will be even harder to predict because we have Mrs. FIC going back to work in April, a potential side income stream coming her way at about the same time and we will be sorting out child care that we have yet to decide on.
And that’s all we have for today.
Let us know what you think of our spend report and your own spending in the comments or over on Instagram @FindependenceCanada and we’ll be sure to get back to you.
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Thanks for stopping by,
FIC.