I cleared $855.95 in January against a plan of $695 representing a savings rate of 16.6% (bleh - for a good savings rate check out Frugal Canadian's performance for January). These results were actually aided by a $400 refund for an upgrade my home builder never installed. I was over budget in a number of areas in January, including gasoline, groceries, household items and electricity.
I'm allocating my my entire budgeted savings for January to future investments. My accounts look like:
- RRSP: $379.92 (including a YTD gain of 0.2%)
- Non-registered: $695 (all currently cash)
As noted throughout the month I made a number of small changes in January that should reduce my regular monthly expenses by $18.62 - enough to cover a new subscription to say, Canadian Money Saver (almost).
Goals for February
- If anything, keeping this online account has really prompted me to take a critical look at all the nooks and crannies in my fiscal behaviour, even the untouchables like personal banking. In February I will do (and share) some cost-benefit analysis around switching banks.
- As a stretch savings goal, I also want to do some really quick market surveying to see if I can't get better rates on my home and auto insurance. More on this will follow.
- Start a DRIP investment.
- Pretty up this blog. Just because the material tends to be a little staid and stodgy, there's no reason why it can't be a little easier on the eyes; have a look at WordPress.