MARCH 2010 INCOME: $19,837.50
- After a 19% tax, I net $16,670.17
And with that cheque, my contract is finished.
I will have enough money to live for the whole year and travel to Europe for 2 months if I am careful.
Any subsequent earnings (contracts, side work) will go into savings.
MARCH 2010 EXPENSES: $3016.57
- Business: $1683.14
- Life: $1333.43 / $898.25 *depending on how you look at it
*Will explain in the budget breakdown
MARCH 2010 BUSINESS EXPENSES: $1683.14
MARCH 2010 LIFE EXPENSES: $1333.43 or $898.25 depending on how you look at it
I don’t really budget for one-off things because I just dip into my petty savings to pay for things like renewing my car license.
So I have two totals for you: one says I went over the $1000 budget this month and the other says that I stayed under by about $100
Savings: $3000
I also saved $3000 into my savings account for the TFSA.
Will save more once I get the money from my business Accounts Receivable in my account.
DIFFERENCE IN BUDGET: + $15,137.79
NET WORTH: $81,106.17
Increased by: $18,865.61 or 23%
No debts.
Just a girl trying to find a balance between being a Shopaholic and a Saver.
I cleared $60,000 in 18 months earning $65,000 gross/year.
Now I am self-employed, and you can read more about 
Did you just have a $18,000 uptick for this month or am I reading this incorrectly.
You are amazing. I want your job. Haha.
Yes, I had a $18,000 uptick for the month… 🙂
But that’s the end of that gravy train. I am now officially “off contract” so $0 income for the next however many months.
It is so wicked that you make about the same amount as I do, but I have to work 12 months out of the year, yet you only have to work one. Good for you woman!
I know that you're trying to use skin/cosmetics products that are less harmful for you or "green" or "eco-friendly" so I was wondering if you feel bad or apprehensive about dry cleaning your coat as you mentioned you had to do in your breakdown? I have had a coat for about a year that is dry-clean only and I'm afraid of the chemicals which I will inevitably breathe in and absorb.
Also, I'm not sure if you addressed this already in a previous post, but don't whoever employs you on contract pay for your travel and business expenses? I thought they would so it doesn't come out of your pocket and therefore out of your salary.
1 — I do feel strange dry cleaning it, but they told me they were as eco-friendly as possible for cleaning my coat, using different chems.. I need more research on that, but I also only dryclean once a year, or twice, if that.
2 — No, they don’t always pay my expenses. Some clients do, but this one didn’t, so it all came out of pocket and out of my salary.
I don’t pay the TAXES on the expenses… perhaps that’s what I wrote about? 🙂
Cool, I wanna know if there's a more eco-friendly option for drycleaning in Van…more importantly I just worry about the chems affecting my health since they will linger on my clothes. I guess a few times a year doesn't hurt either and if it's a beautiful spring day I suppose I can line dry them or something to air them out!
No, I was just curious if they paid for the expenses, but not paying taxes on them works too 🙂 I guess it's better if they do cover your expenses but then again they may say no and then you have to decide whether to take the contract or not, so I guess there's not always a choice 🙂
I think in Van there are a lot of options for eco-friendly drycleaning. I saw only maybe 2 that did that in Toronto…
And you’re right — I never thought about the chems lingering and affecting my health. I’d air them out if I were you. If I had any other choice, I wouldn’t dryclean anything of mine, but my white winter coat is (unfortunately) not something I’d throw in the wash.
It really depends on the client. If they pay for expenses, it’s the best… but if they don’t, it’s usually about $25/hour that will cover my expenses, which means it’s whatever my rate is, MINUS $25/hour.. so you feel the pinch.
Oh there's FB being fabulous again! Congrats on the amazing net worth! Even though you are set for the year, are you going to actively search out additional freelance opportunities or just chillax.
I’m going to keep searching for contracts, but the goal is to chillax and not stress out about it.
You are really good at this budgeting. I try….I really do but I just spend and spend and then I spend some more. I need help!!!! lol
You need to track your expenses, woman 🙂
A budget is useless without statistics…