Posts tagged ‘investments’

April 2, 2012

Results of the “No Spend” Challenge

by Robyn

On March 6, Krystal from GMBMFB tweeted about her 10 no spend days challenge. My February budget was blown out of the water with my trip to Ottawa and my shopping trip to Grand Forks, so March was my month to keep my expenses low. So for the month of March I challenged myself to keep my spending below $1500 and to have 10 No Spend days.

Sadly, I failed at both challenges. But I didn’t fail terribly, so for that I’m still giving myself a congratulatory pat on the back.

I ended the month having achieved 9 out of 10 no spend days, and I very likely would have completed the challenge if I had started it on the 1st instead of the 6th. As for keeping my expenses under $1500, month end I spent $1561.20, including all fixed expenses. Here is how it breaks down.

Rent: $547.00
Personal Care: $219.07
Food & Dining: $185.80
Bills & Utilities: $164.63
Auto & Transport: $145.80
Financial: $100.00 (transferred into savings)
Health & Fitness: $90.76
Gifts & Donations: $40.40
Shopping: $37.47
Entertainment: $30.25

Personal care is pretty high up there, but I’ve told myself, even if I break my budget because of “beauty,” it’s allowed. I don’t blow my money on getting my hair and nails done. The last time I had my nails done was over a year ago, and I last cut my hair in October.  Almost 75% of what was spent on personal care this month was for electrolysis, and I have no problem justifying spending that money.

Food & Dining is also pretty high. In detail, I spent $116.06 on eating out, and $69.73 on groceries. Nearly 50% of my ‘eating out’ expenses were from buying dinner at the restaurant where I work. I need to start bringing more stacks with me to tide me over during some of those longer shifts.

Auto & Transport was within budget. I spent $101.00 on gas and $44.79 on an oil change.

I’m challenging myself this month to do the same. Spend less than $1500 and have 10 no spend days. I have a few things on my “shopping” list this month, so it’s definitely going to be a challenge. Since the weather has been so nice I’m planning on getting a pair of new runners, which I might try to pick up at Value Village if I can find anything in good condition. I’m also in desperate need of a hair cut, as I mentioned earlier, the last time I had a hair cut was in October, and I’ve got a $25 Amazon gift certificate that I’m itching to use.

Have you ever stuck to and completed a personal finance challenge?

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November 4, 2011

Hashing out my SNAP contract

by Robyn

At the beginning of the week I went into SNAP fitness and spoke to the manager about the contract I signed. He told me that the pre-paid amount for the 6 month contract was based off the “month-to-month” rate. So “technically” it gives you a free month, but not really. I told him the way they sell their memberships is deceptive and misleading. Looking at the membership rate breakdown that they use as a tool to sell membership plans to people I clearly pointed out to him that it was disceptive, misleading and in some ways, false advertising as it fails to state that the pre-paid amount is based off the month-to-month rate. He didn’t really offer me anything. He just said that those were the rates as determined by corporate.

I knew I wasn’t really going to be able to get much out of him, but it was worth a try. In the end I opted for a full refund on my initial $285.29 pre-paid membership and resigned on a 6-month contract, where I’ll pay monthly at the rate of $35.96. Instead of being locked into a 7-month contract, I’m only locked into 6 months and free to end my membership in May 2012.

I’m a little less bitter now and really just happy to get on with it and start working out on a regular basis. I need to tighten up my jiggly thighs and work on getting rid of my little gut.

In other news I made a quick visit to the bank today to deposit $2769.67 worth of Canada Savings Bonds that had matured. I’ll be contacting my bank branch next week to arrange an appointment to speak to someone to decide on how to reinvest that money.

I also took out $200USD ($208.36CAD). I’m heading down to Grand Forks, ND tomorrow to spend the day shopping for some new clothes. Excited to get out of the city for a day. I haven’t been to Grand Forks for over a year.