The TSX closed today’s session at 24,562.55 points. I’m not particularly interested in checking my stock portfolio, as I know I won’t find anything too exciting right now. But I did take a look this morning and saw I received some new dividends, including one from CIBC. This extra income helped reduce my margin debt to $5,084. November is a great month for many of us, as we get three paycheques. If everything goes according to plan, by the end of November, I should have my margin debt down to just $1,500. I’m eagerly looking forward to that day.
To make this goal a reality, I’ll be on a tight budget for the next five weeks. Here’s what my budget looks like:
Groceries: $240Extras: $200
Internet and Cable: $101.68
Rent: $750
Cell Phone: $40.24
Banking Fees: $8.90
Netflix: $6.89
Crave: $19.54
With $240 allocated for groceries, that works out to just $60 per week. For reference, that’s what my mother would ask from me for groceries while I was living in New Brunswick, which is quite affordable compared to what I’d typically spend in Montreal. Here in New Brunswick, I have $50 each week for any extras, which is far less than I’d normally spend weekly in Montreal. Being away from major stores makes saving easy—almost too easy!
As winter approaches, it’s looking likely that I’ll be staying in New Brunswick instead of traveling back to Montreal. With no buses, trains, or reliable winter transit options to Quebec, going to Montreal for a short time doesn’t seem worth the hassle. So I’ve decided to settle in here for the next few months, even though returning to Montreal in January would be nice if weather and transportation allow.
On the bright side, by the end of December, I should be debt-free. With no more margin debt, I’ll be able to start building up savings, something I really need to strengthen my financial health.
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