Pay Day 1 December 2013

So my monthly pay check is in for a total of $3,805.97.  My pay has increased for the next few months as I’ve paid my EI for the year. My budgeting will continue as if I did not see this extra $200 and that amount will be put towards my House Payments

Housing 40% - $1,439.35

Mortgage - $646.62

House Maintenance - $315.00

Housing Taxes - $192.00

House Insurance - $72.00

Utilities – $213.73

Total – $1,439.35

Savings 10% - $359.83 – All going to my RRSP

Extra Mortgage Payments 10% - $359.83

Transportation 15% - $539.75

Bus Pass – $0

Train - $0

Other - $15

Car Savings – $0

Total - $15

Leftover - $524.75

Life 25% - $899.63

Food - $130

Cell – $30

Internet - $60

Health Insurance – $23.52

Clothes - $10

Gifts - $10

Misc - $10

Big Ticket Item - $100

Entertainment - $10

Social/Sports - $0

Financial Planning - $14

Cat - $10

Slush – $492.11

Total - $1107.21

Extra from not having to pay EI - $207.58

Of Note:

- Between my normal mortgage payment ($646.62), my Extra Mortgage Payment Amount ($359.83), what is left from the transportation budget ($524.75), my Slush money ($492.11), and my Extra from not having to pay EI ($207.58) I have a total of $2,240.89 to put against my mortgage. Which means not only can I afford to increase my monthly payments from $711.28 to $782.40 but I can double up my payment to $1,564.80 and have $666.09 left over to add to my yearly 10% pot.

- My BTI money is earmarked this month for a wisdom tooth extraction. Truly there is nothing more exciting to spend $100 on.