Thursday, October 27, 2011

Our Money

Personal finance is a huge part of my life. I'm the bill payer in the family and I love it! I know many others who can't stand when bills come in or hate having to transfer money, but I get a kick out of it. And no, it's not because we're millionaires. We make a normal amount and our finances are anything but perfect, but for some reason, I just love playing around with dollar figures. Even though I generally suck at math!

Right now our finances are a bit chaotic because of the wedding, going on our honeymoon and buying a car, but for honesty sake, I'm going to lay it all out there.

We have just over $4,000 in debt right now. This is the end of a personal loan from way back when I was in school/just graduated and a young 20-something who spent money foolishly.

We also have a new car loan. I honestly don't know what the balance is on that as we literally just bought the car right before the wedding, so I haven't had time yet to get the full loan amount after our down payment and the first payments. Once I do though, I'll put that out there.

We also have money in savings - about $7,500. I'm not sure how much it will be after we pay for the rest of the wedding and honeymoon though (some of that money was earmarked for these things, so this is not unplanned). This savings account is primarily for a down payment for a house.

Our upcoming costs are:

- pay for the rest of the wedding and honeymoon. I'm waiting for our wedding photos from our photographer and when we receive those our third payment to him is due ($653). We also have to pay for the rest of the honeymoon, but I'm awaiting the credit card update. This money will come from our chequing/wedding savings accounts.

- pay for Hawaiian cruise. Our first honeymoon, which we took right after the wedding, was a smaller trip within Canada. This trip to Hawaii is our full on honeymoon (we wanted a warm destination honeymoon, but we wanted to wait until it was actually cold enough here to enjoy it). We owe $3,566 (after the $700 deposit was made). This is due next month. We currently have $1,600 in our vacation TFSA account and we'll pay for the rest with a freelance writing cheque that should be coming in very soon. We still have to book a hotel for the last couple days that we're in Hawaii post-cruise, but we can do that once the dust settles from all the other money flying out!

I think that's about it! My to do this week is to find out our car loan balance!

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