Debt / Personal Finance

Looking for the holes in my pockets – Where the hell is all my money going?!


Ever feel like the broke Monopoly guy wondering where your fortune has disappeared to? Yeah, me too…

You may have noticed from my previous posts that my upcoming Visa bill is $3,656.10. If you’re wondering, “What the hell did they spend all that money on in one month?!”, then welcome to the club. So of course, like any person obsessed with getting back on track financially, I set out to figure out where the holes in our pockets were and, of course, to patch them back up.

Aug 2015 visa

The summer months can be financially draining for many people. We are no exception, and our August Visa bill shows that quite nicely. August does typically tend to be a  relatively expensive month, as not only is it the Mr’s birthday, but also my brother’s and one of the Mr’s best friend’s.

This year, my brother also held his cottage bachelor/ette party in August, which does explain some of the Gas, Groceries and Personal amounts. I was in charge of all the food for the weekend for 17 people, and we took both our vehicle and my Dad’s van, so of the $508.13 spent on gas, $234.18 was spent for the cottage (and also divvied up accordingly).

And of the $826.53 spent on groceries, $749.36 of it was spent for the cottage (the rest was put on the MasterCard at Costco), which means we surprisingly only spent $77.17 on our own personal groceries. $342.89 of the $466.59 spent on Personal was also for the cottage, meaning we spent $123.70. For a breakdown of the rest of the categories, scroll down to the bottom.

The bad part of having such a high balance is of course having to pay it off. I still need to find $2081.54 to pay it off by September 23. The good thing – if there is such a thing – about having spent so much is that it makes seeing progress next month extremely easy, and there’s nothing like seeing good progress towards your goals to fuel your motivation even harder.

Let’s do this!!

Visa Breakdown

Alcohol: We spent just over $90, but most, if not all of this was for the cottage.

Education: Aside from signing up for the CSC, now that I’m done at York, I expect this amount to be 0 for the most part going forward.

Entertainment: This is an area we could definitely focus on cutting down on. We went to the movies once (and had one free ticket!), but the majority of the money spent here was on golf stuff. The Mr. has just discovered golf and has been going quite frequently. To his credit though, since he’s just starting out, he does always seek out cheap courses and driving ranges. He also went a few times for his birthday, and now that we’re heading into fall, I expect this to drop. I don’t really want to ask him to cut back significantly on this though because I know part of the reason why he’s gotten into it was because his dad had, and this was his way of bonding with his dad more regularly. Yes, good son, I know 🙂 so I definitely don’t plan to be that DIL that gets in the way of that.

Gifts and attire: also included the Mr’s birthday gift (which was, of course, golf related ;)).

Home: Frankly, I was surprised that I only spent $17 on home this month! I was so excited with what I had found that I told my entire inner circle, most of whom thought I was slightly crazy for being this excited, but it deserves its own dedicated post.

Interest: This is one that shouldn’t have even been a charge, and one that has not been in the past nor will be in the future. If we haven’t had enough money leftover to pay our bills (which has been more and more often lately), I’ve always paid it off using our HELOC, since its 3.2% interest is obviously a much better option thank the Visa’s 19.99%. However, I guess I had gotten so buried with finishing up my degree (i.e. the 50+ page thesis!) I completely forgot to pay it off! Lesson learned.

Pet: Pets aren’t cheap, and our 16-month Doberman is no exception. We’ve recently switched him to a premium brand of food, because he wasn’t doing so well on his other food. We also spend $72.96 on pet insurance because we really couldn’t bare the possibility of facing potentially difficult decisions down the road of having to put him down or spend $15,000 on a surgery or something.

Restaurants: This is the category that I will focus hard on. Being in the last month of school, I had no time to cook or do groceries, which meant we were eating out for nearly every meal. This amount also does include a $232.98 feast (and I DO mean feast!!! Steak, lobster, crab, oysters, jumbo shrimp plus dessert) to celebrate the Mr’s birthday, my finishing university and getting a job, but $515 on eating out is just something we cannot sustain.


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