Goldeneer Budget

Dec 05, 2012 Comments Off by

Minimizing our budget has been of great importance in the past when we were paying off our debts and buying income properties. We tracked all or our monthly expenses and reduced our lifestyle to meet our needs. We have recently relaxed our budget due to repaying our non-mortgage debts and significantly increasing our rental income. Since we are soon going to be living on a reduced income in the near future, it is time to review our budget more closely.

The following is the present budget for Mr Cannes and I:
Expenses

Item Cost
*Food $400
*Internet $70
*Phones $170
*Car insurance $200
*Car payment $500
*Car gas $190
Car maintenance $30
House mortgage $920
House utilities $80
House insurance $30
House maintenance $170
House taxes $200
*Storage $280
Motorcycle ins $150
Clothes, personal $100
Unplanned $100
*Discretionary $1000
TOTAL $4590

Our individual expenses come to $27 540/yr. It is a little high and we plan to reduce the expenses marked with an asterix in the near future. The biggest difference will be from returning our leased car for a less expensive model. This will reduce our monthly payments, insurance and gas costs. As this is our estimated budget, it will be important to track our actual budget for 2 months to see if there are any unaccounted expenses.

Frugality, Goldeneer's Story, Savings

About the author

Clara Cannes, the chief author from Goldeneer is a Canadian that works as a full time employee in the engineering field. Her passion is real estate, entrepreneurship and sustainability. Clara has finally reached financial independence in her late 20's and is on the path to a comfortable retirement by 35.
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