20′s Finances wants to know where bloggers spend their money. For this post, I have assumed that my net income after taxes and not including bonuses (with a company not doing so great, there won’t be many of these anyways) is equal to $1.00. I then put all of my expenses on that. For things like housing, I am only considering my share of the expenses.
We live in an eastern city and bought after several years of price increases, so we have a rather expensive place. On the bright side, we are paying less in taxes than those living only a few kilometers away, and since we are two the burden is bearable. This cost, however, doesn’t include welcome taxes and the cost of buying new furniture. For this year, this cost is probably going to end up more like $0.45 to $0.50.
- Condo fees: $0.03
- Mortgage: $0.17
- Taxes: $0.05
- Utilities: $0.03
- Total: $0.28
I pay less than I used to, as I decided to purchase my car out instead of leasing a new one. I mostly only drive on the weekends these days and take public transportation during the week. I bought out my car this year, which would be another $0.30. I am only including a portion of this below since the cost should be amortized over the life of the car.
- Public transit: $0.03
- Gas: $0.02
- Maintenance and repairs: $0.02
- Depreciation: $0.05
- Total: $0.12
We don’t eat out too often; mostly for special occasions. We both like to cook at home, which is a good thing as far as the pocketbook is concerned!
- Groceries: $0.06
- Eating out: $0.02
- Total: $0.08
- House & auto insurance: $0.03
- Work private insurance (medical and life): $0.01
- Total: $0.04
Some expenses need to be paid out of pocket, like prescriptions, certain tests, etc…. I’ve accounted for this cost below, as well as cost for basic personal care items like toothpaste, deodorant, etc….
- Out of pocket health expenses: $0.01
- Basic stuff: $0.01
- Total: $0.02
- Total: $0.02
The company matches my RRSP contributions, so that is essentially free money. Forced savings is additional money I transfer from my chequings into a savings account, until I decide how I want to use or invest it.
- RRSP savings: $0.07
- Company match: $0.08
- Forced savings: $0.30
- Total: $0.45
- Travel: $0.08
- Charity: $0.02
- Education: $0.04
- Total: $0.14
I also spend a bit more on various items, and on charity. Seeing charity in cent terms makes me feel a bit cheap. I should step this up next year once the welcome tax and other stuff is out of the way and taken care of.
These totals also don’t quite add up, but if you subtract the company match (since that is bonus money) and the rounding errors, then you end up close to $1.00.
How about you? Check out the post at 20′s Finances and join in!