30 Month Mortgage: Month 1 — under or over budget, you decide

Month 1 of our 30 Month Mortgage is done. The month went better or worse than expected, although you can be the judge of whether or not I’m on budget.

August Budget

I used my gambling winnings from Vegas to fund my half of the trip

Bill Budgeted Actual Comments
Electricity $100 $43.44 Partial month but still under budget
Natural gas $100 $57.17 Ditto
Water $50 $20.57 Ditto
Internet $60 $65.74 Modified to include Netflix
House insurance $80 $154.50 Long story
Car insurance $90 $92 This should go down in October when we change policies
Cell phone $35 $34.65 $103.95 for 90 days of service
Spending money $200 $200.55 Fruits, veggies, take-out coffee, spray paint, lunch
Weekend Trip to Great Falls MT $0 $195.78 Spontaneous getaway.
Total $715 $668.55

$862.56

Amount without weekend in Great Falls

Amount with weekend in Great Falls

What a fantastic first month of my $700 budget! One thing that I didn’t mention in my last budget post — Le Monsieur pays for groceries and gas for the car. We don’t live on vegetables.

The electricity, gas and water bills were smaller than anticipated this month since we moved in towards the end of the cycle. August’s bills should be much higher not only because they’ll cover 2-3 more days but because we had to turn on the heat! For real.

Our internet and car insurance came in more or less on budget. Our car insurance is paid yearly but I save 1/12 of the payment each month. In October we’ll be switching providers and our rate will drop $138. Our home insurance policy dropped as well and will drop again in October when we bundle our policies. My September budget will reflect these changes.

Our house insurance is over budget this month because of a policy cancellation. The policy cost $89 to cancel but we more than made up for it with the savings on our home insurance, as well as the future savings when we bundle our car insurance ($1605 combined vs. $2060).

My cell phone came in right on budget – This month I purchased 90 days of service for $103.95 with Public Mobile. Divided by three months, my “payment” was about $35.

August Budget

Visual representation of August’s spending: The top circle is my chequing account and the bottom circle is my bills account

Frivolity is my Weakness

I took out $200 this month for spending money and promptly blew $30 of it on spray paint (why?!). I regret that choice but I do have spray paint now for future projects. I spent another $20 on fruits and veggies at my local produce co-op and bought a jar of natural honey for $6. The balance went to lunches and take-out coffees. I took a colleague for lunch for helping me move my desk and bought lunch for Le Monsieur once or twice because he’s a sweetheart.

My most frivolous expense this month was our weekend trip to Great Falls. Montana, you sure are swell. When we were moving we found my gambling winnings from our wedding in Las Vegas. Feeling antsy about summer almost being over, Le Monsieur took me on a weekend trip to the States. We went shopping and had a picnic and went for a hike in 30 degree heat. Overall I spent the equivalent of $200 CAD. Again, it was free Vegas money so I’ll leave it up to you to decide if it should be considered over-budget.

September Budget

Bill Budgeted Actual Comments
Electricity $100
Natural gas $100
Water $50
Internet $68 Increased to include Netflix
House insurance $55 Decreased thanks to new policy
Car insurance $80 Decreased thanks to new policy
Cell phone $35
Spending money $200
Total $680   Gas for the car + groceries are paid by Le Monsieur

I adjusted the September budget to include Netflix and the new insurance policies. The difference between $715 and $680 is only $35 but that’s an extra $400 a year in my pocket and on our mortgage.

Mortgage Balance

Let’s be real though. You’re all here to see what our mortgage balance is. We had an unexpected surprise this month. Le Monsieur had been saving up to make an investment in a private business but the deal fell through. While I’m a bit sad that we won’t get the kind of return expected from private businesses, I am excited that I got to put that $11,000 towards our mortgage balance. As of August 31st, 2016 our mortgage sits $154,324.51, or 81% of the original balance.

30 Month Mortgage

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