September round up

First thanks for the links and thoughts on the Smith Maneouvre. For those who would like to read up on this technique, see Million Dollar Journey's articles: 1, 2, 3. My summary was somewhat correct, but I didn't know that one could write off certain types of investment interest earned in Canada- I thought this was only possible with RRSPs. I may post more on this topic, but today I am going to post September's summary.

First- what we spent on our household variable/fixed expenses outside debt and loans.
Sept. 2007
Alcohol 250
Auto 514
Bank Charge 115
Business Office 30
Cash 300
Cell 100
Dining 308
Entertainment 57
Golf 14
Groceries 626
Health 113
Household 96
Insurance 176
Interest Exp 137
Investments 100
Meals & Ent 121
Misc 52
Pets 63
Supplies, Business 469
Tel & Utilities 63
Travel, Business 238
Travel, Personal 340
Union Dues 84
Cable TV/Internet 117

This total is more than TWICE our budget for these type of expenses!

A couple of obvious things stand out- we had a lot of fun this month! As you will see, some of this fun was on credit :(

Alcohol- we went on a wine tour in the Okanagan so about $200 of this is on wine we have yet to drink.
Dining- $100 of this is from our anniversary dinner; probably another $150 or so is from our travels.
Travel, Personal- includes hotel costs and ferry costs for our trip to Okanagan and trip to Ucluelet for family wedding
Groceries- About $126 above our budgeted amount- most spent while away for work and we bought ready to eat meals
Meals and Entertainment- eating out while away on business
Bank charges- what the hell? Actually, this is somewhat incorrect- it is $40 less because I got an overdraft fee refunded, but it must not have posted correctly in Quicken. This still includes 1 insufficient funds charge (because we are switching banks I missed a payment coming out of the old account), plus various overdraft fees, interest, and monthly bank fees.

So not surprisingly, all this spent above and beyond our budget was put on credit cards. (I told you it was an UGH! month). In fact about $2200 is now on credit cards that was not before. I can justify the work expenses for our time away, but I wish we had realized a little better how much in fact we were spending. We were short about $1200 in income this month while we worked on projects we have not yet billed for. AND I dipped into the EF to a tune of $400 to cover this.

I must say I am still struggling with our variable income. It is never consistent, so it makes it difficult to plan for.

Yesterday, in a state of annoyance over one of our credit card bills, I came up with a plan to try and get things under control again. That will be my next post.


  1. FourPillars said...
    Wow, that's some overspend.

    I don't think one month is worth panicking over but you definitely have to make it up later.

    MillionDollarJourney said...
    Thanks for the mention Wooly!

    You guys sure did go all out on the groceries this month. :)
    Anonymous said...
    I'm really impressed with how complete and accurate your list of expenses are!!
    I DON'T recommend using a checking or savings account.
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    Steve Herman
    Mr. Cheap said...
    I'm a big believer that measuring something is the first step to changing it, so good for you for getting such a great handle on your spending (and best wishes for making adjustments now that you know what the reality is).

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