January 2019 – Financial Update Time!

January 2019 – Financial Update Time!

This months financial update there were some big changes.

While this update is a month late, there was still a bunch of progress in January, especially when it comes to progress towards having an emergency fund.

So far separating business and personal expenses via the corporation has gone extremely well and has helped me keep better track of my expenses. I am moving into a new house during the month of February, so my expenses and everything will likely change a lot more when this happens. Ultimately, however, I think it will be a lot better for me as it will help me regain my lost time and work more on the passion projects that I care about.


The February financial update should be out later this week. Until then I’ll happily share the glow January gave me!

Total for all accounts
Opening Balance $597.02
Income $3,911.49
Expenses $3,866.06
Closing Balance $551.59
Profit $134.96


Personal Chequing Savings Account TFSA
Opening Balance $391.49 $0.00 $0.79
Income $2,740.02 $230.09 $200.18
Expenses $1,828.32 $0.00 $0.00
Closing Balance $83.06 $200.09 $200.97
Profit -$308.43 $230.09 $200.18


Business Chequing
Opening Balance $0.00
Income $1,992.85
Expenses $1,925.72
Closing Balance $67.13
Profit $67.13

Credit Card

Credit Card Student Loan
Opening Balance $935.12 $77,306.88
Payments $100.00 $201.00
Expenses $529.07 N/A
Closing Balance $1,364.19 $77,105.88
Debt Change Raised by $429.07 Lowered by $201.00


Payments Owing Overdue
TV/Internet $214.31 $0.00 $0.00
Phone $151.98 $0.00 $0.00


Category Amount Spent
Groceries $75.72
Hosting/Blog Related $1.78
Business $291.55
Car Insurance $251.13
Eating Out $189.00
Pet Supplies $44.65
Gas $111.67
Rent $800.00
Car Payment $400.00
Health Insurance $103.40
Hospital Stuff $73.30
Car Maintenance $16.79
Security Deposit $775.00

Comments/Things to note

Income wise there hasn’t been a lot of change since my last financial update. I have officially begun earning $0.27 in interest this month! A small start, but a start nonetheless.


I am also moving into my own place in February, so I had to pay $775 as a damage deposit. This should be offset by the returning of my damage deposit at the end of March, at which point it will all be put towards my emergency fund.

Goals Progress

How my goals have gone so far:

  • Continue paying $400 a month towards my car to pay it off early. ON TRACK
  • Put at least $200 per month into my TFSA as an emergency fund, with the long-term goal of having $1,500 in there. ON TRACK
  • Put any excess on my credit card to support at least a $1000 available credit. NOT ON TRACK – Paid my bills on credit, without making more than the minimum payment, resulting in the higher amount owing.

Final Thoughts

I kept the previous financial update layout this time. I think this will be the keeper.

As always, check out my Twitter and Facebook for the latest with what’s going on with me!

See you later this week!

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