Happy new year dear reader! May 2020 be the best year for all of us yet.
Spendings tend to go a little a lot out of control around the Holidays and I’m no exception. Let’s see how I fared this holiday season.
Spending Report: $2542.78
Top 3 expenses for December in descending order:
- Tuition ($1155CAD, $889USD, £679)
- Thailand trip ($1070CAD, $823USD, £629)
- Kindle Paperwhite ($190CAD, 146USD, £112)
Random thoughts:
- The Kindle is worth every penny.
- I tried to spend nothing on clothing but had to get new biking shorts for $5. It was harder to resist than I would have thought.
- If I had the same job but in Canada, I would probably need to spend about this much on a regular basis due to rent etc.
- I’ve budgeted for tuition and various trips throughout the year so none of this was a surprise.
Net Worth Update: $75,397
No surprises here, coming along quite nicely. I can’t believe it’s been almost a year since I’ve started this whole thing.
As an ex-pat, I can claim non-residency status in Canada and not pay income taxes but the downside is I can no longer contribute to any tax-advantaged accounts. The advantages of having a TFSA and RRSP far outweigh any taxes I would have saved. Plus, I’m a pretty big believer in paying one’s dues and supporting public services so no complaints here. A few expat friends have debts they’re choosing to pay off first so it made more sense for them to claim non-residency.
Within 2 months I should hit the $80k milestone and ever closer to the existential crisis of what I should do now that money is no longer a concern. I’m already experiencing these thoughts but not truly yet since I don’t have liquid cash and everything is in retirement savings for now. Future me is in for some fun times.
High Lights
- The 11-day Thailand trip really surprised me with how little it cost. It could have easily been less as well if I had decided to skip the resort city of Phuket.
- How much I’ve used the Kindle. I purposefully did not want a tablet because I knew it’s just as full of distractions as my phone is.
December was a great month to end the last decade. I had friends, family, food, and finances all in order, it’s a good life.
How were your spendings for the Holidays? Was it within budget or did you have some surprises?