General Goals 1) to be debt free in 3.5 years 2) save lots of money

Friday, April 29, 2011

Rejigging the Budget for May and June

Yesterday My BF came across town to see me. We had a wonderful time and it was lovely to see him; since we haven’t seen much of each in the last 2 weeks. At one point as we were kissing I was thinking about budgets. Does that make me pathetic or what! In my defense it’s been on my mind for a while now. With April almost over and May upon us its time to structure May’s budget. 

May, will be the first month for a lot of things including changes to my budget structure. Even more so when June comes.  In June I will be on flex hours and we also have a 3 pay month. My BF’s b-day is also in June so I will need to do some budgeting for his gift. He doesn’t know it yet but I plan to get his parent’s involved. This coming Monday the cats go in for their annual checkups. Depending on how that turns out, it will dictate further changes to the budget. Last but not least Anime North is coming happening in May and I have financial obligations for the hotel cost that was booked last May, as well as food and other convention costs. Having a hard time following… so I am I. All these things have been bouncing around in my head and I haven’t managed to sort them out into a concrete budget for May or June as result. I am going to try and lay it all out a little better for you and for me.

This past week I have been aggressively snowflaking trying to get my LoC down to $30,000.00. I had an account set a side as a bill slush fund. After paying the storage until I decided to see how much was left in the account. I decided to leave $170 in the account to cover the cost of the storage until for next month and I left $12.00 to cover any bank fees, more of a slush fund really. What was left over was rolled in to my LoC. However now that the money has been put aside I don’t need to budget for the unit next month. This gives me $170 flexibility to role into my What if… fund for Anime North.

May will be the first month that I don’t have to ‘officially’ make a visa payment *yahoo*. I have rolled this money since last pay into my LoC, and will continue to do so in May and June.

I mentioned the cats are going in. If after there appointment I still have money left over in my cat fund I am debating about reducing my monthly contribution from $100 to $50 and diverting the other $50 into a house/condo/triplex fund. I am hoping that I will have enough money in my What If …fund that I won’t need to divert the money to cover my Anime North expenses. So I can start contributing to a condo fund.

In relation to June I have decided to role the 10% shift premiums into my car fund. I think this is the right thing to do. Since I am doing this, does it make sense to snowflake the left over pay from #3 into my line of credit or into my car fund as well? I think it will be about $300. Ideally I would like to put it into my line of credit because I think it will drop it to about $28,000.00 at that point. However it might just push my car fund to the finish line.

Do you see what I mean about having lots of things rolling round in my mind? The fact that until some things -happen like the vet appointment- I can’t finalize the budget is driving me nuts! Normally this stuff is sorted out the week before pay day #1.

PS: I just got off the phone with OSAP and I got my updated balance. My outstanding balance is $-9,838.14 that's a decrease of $572.  If I wasn't so focused on my LoC, I could easily have it paid off. But come September my LoC payments are going to jump through the roof!! Next year I am going to make it my New Years resolution to have it paid off by the end of the year. I am going to update my side bar now!


  1. Ummm, thinking about budgets while kissing your boyfriend - seriously? You are just so engaged in your budget process! That's great but give it a break once in awhile lol! The numbers will still be there in the morning and sleeping on it will give you a fresh perspective in the morning.
    What would I do? Throw the extra money at whichever has the highest rate of interest!

  2. I would snowflake it to the LOC.

    With your budget, perhaps budget a "ball park" figure and then snowflake the unused amounts?