Estimated studying time: 14 minutes
Keep updated with CBB’s December 2023 finances replace. Uncover the story of the month’s bills and the information behind them.
Get the whole December 2023 finances insights and end-of-year evaluation.
I hope you take pleasure in these month-to-month updates, and if you happen to’d wish to see different information, remark beneath.
Seize it now if you happen to’re new to the weblog and haven’t downloaded my free 2024 Finances Binder, Emergency Binder, or Grocery Financial savings Finances Binder.
Why Do I Share Our Month-to-month Finances?
I stay up for placing this put up collectively because it lets us see the place our cash was spent.
A finances additionally acts as a diary to your bills so you’ll be able to look again to see success and failure.
In any case, we will solely achieve success if we be taught from the errors we make alongside the best way.
Our finances replace additionally lets readers know that we’re NOT excellent and should make modifications like everybody else.
We use the instruments (Free finances Binder), and I hope you have got downloaded your free copy.
If there’s any data that you simply’d wish to know or clarify about our finances, please share your feedback beneath.
Alright, let’s get into this.
Dialogue December 2023 Finances + 12 months-Finish Figures
Benefit from the learn, and as at all times, I respect your variety suggestions and solutions within the remark part.
On the finish, you will notice charts that mirror our general bills for 2023, which permits us to know the place all of our cash went.
Making a year-end chart additionally permits customers to construct a brand new finances for the next yr.
Percentages For the December 2023 Finances
Seeing our housing ratio once more displays slowed renovations in December.
Sure, I nonetheless have to complete the primary rest room, and it’s on my bucket record.
Oops, I imply honey-do record. Haha!
As talked about final month, our Christmas bills have been resulting from improve for the vacations.
Finances Month Comparability
We had a +17.4% (I forgot to alter the arrow to inexperienced with a +) change in complete internet revenue for the month, with a lower in bills of -2 % in comparison with November.
December 2023 Family Finances Percentages
Financial savings of 43.45% in December embrace investments and financial savings based mostly on our internet revenue.
The housing ratio, as talked about, dropped to 10.68%, below the 35% threshold.
Our Life Ratio is 34.10%, which is excessive as a result of holidays.
Life incorporates every part from groceries, leisure, miscellaneous, well being/magnificence, clothes, and many others.
Each housing and transportation keep beneath the month-to-month proportion factors.
Our truck has no mortgage, and solely considered one of us goes to work, making issues cheaper regardless that fuel costs are growing.
Equally necessary is saving cash for our projected bills due all year long.
All classes took 100% of our revenue, displaying we accounted for all of the income in December 2023.
Now we have zero debt, which helps fund different finances classes to maximise investments and financial savings.
Grocery Meals Financial savings Jar December Replace
Quickly, I can be writing an in depth weblog put up about why we are going to observe our grocery reductions.
Replace: Monitoring Our Grocery Reductions For One 12 months + Free Printable
For December, we saved a complete of $155.60.
By the top of 2023, buying discounted meals saved us $1247.69.
That’s not too shabby, contemplating the unbelievable offers we received utilizing the Flashfood App, coupons, and in-store reductions.
I’d love to listen to your outcomes if any of my readers participated within the grocery meals financial savings jar problem.
I’ve began a 2024 Grocery Meals Financial savings Jar problem for our household once more, so if you wish to be a part of us, obtain your free copy.
December 2023 Finances and Precise Finances
Beneath are two tables: Our December 2023 Finances and our Precise Finances.
Our December 2023 month-to-month finances represents two adults and a 9-year-old boy.
Finances Color Key: It’s a projected expense when highlighted in blue.
Since Might 2014, we’ve been mortgage-free, redirecting our cash into investments and residential enchancment tasks.
Spending lower than we earn and budgeting has been the simplest solution to repay our debt and lower your expenses.
One of these finances is a zero-based finances the place all the cash has a house.
Estimated December 2023 Finances
Precise December 2023 Finances
Canadian Banks, We Use
Breakdown Of Our December 2023 Finances
Beneath are a few of our variable bills from December, other than investments.
We spent $ in December, which I’ll evaluation beneath.
December 2023 Finances Class Adjustments
We mentioned growing our finances classes for birthday, pet, grocery, and telecommunications and determined to do that within the new yr.
I nonetheless have to repair the prolonged well being class, however have determined to attend till 2024.
Once I share the January 2024 finances replace, you’ll discover the foremost modifications.
Family Payments and Bills
Beneath is an evidence of the finances classes from December 2023 that have been over finances or want clarification.
Grocery Finances December 2023 Finances
Our month-to-month grocery finances is $900 plus a $25 stockpile finances.
We spent $903.33 or $3.03 over finances for December on groceries.
That’s a reasonably good month if you happen to ask me, though we’ve been stocking up for Christmas the previous few months.
FlashFood App 12 months-Finish Financial savings 2023
We saved $775 utilizing the Flashfood app from January to December 2023.
PC Optimum Factors 2023
Over the yr, we did use our PC Optimum factors, however solely through the Mega Redemption Occasion in November.
Though we didn’t earn over 7 million PC Optimum Factors for 2023, we’d have been there had we not redeemed.
I’m undecided what we are going to do with these factors as we wish to redeem them after we get extra bang for our factors.
Spending them on the grocery retailer solely means we spend greenback for greenback, which we attempt to keep away from.
Hopefully, there can be some big-ticket gadgets in 2024 that we will redeem factors for.
TD Visa Money Again Quantity
Our TD Visa has just below $400 in rewards factors, which we are going to redeem and start once more.
This has taken years to avoid wasting, so it’s not one of the best rewards card, however we use it for Amazon and different on-line purchases.
Canadian Tire Triangle Rewards December 2023
Sometimes, my bills are placed on my Canadian Tire MasterCard other than Costco CIBC MasterCard for fuel and groceries and PC World Elite MasterCard for groceries.
I’ve made a number of purchases at Canadian Tire in the previous couple of months, and my stability of $830.08 is from these bills.
We additionally solely store on 20x or 30x the Triangle Rewards days!
By ending the yr with my Canadian Tire factors, I saved $830.08, solely a portion of what I earned in 2023.
It was redeemed to pay for renovations, instruments, backyard, and truck upkeep by 2023 however continued to develop.
December 2023 CBB Web Price Replace
The funding portfolios elevated in December by $9423.45, however our money and emergency financial savings fund dropped by $976.94, leaving us with an general +0.55%.
Though we didn’t have as massive of a rise as we noticed in November, we have been happy with $8446.51 or 0.55%.
I don’t embrace our mortgage in our internet value replace, however our dwelling could be listed at round 1 million {dollars} for anybody .
Since we don’t plan on downsizing, there’s no level in together with it in our internet value, however it’s nonetheless a part of your fairness.
2023 12 months-Finish Finances Numbers
Finances Classes That Want Love In 2024
Beneath are the main finances classes we wished to probe for our evaluation, because the others are both fastened or below finances.
As you’ll be able to see, we failed in lots of finances classes, not as a result of we weren’t cautious sufficient, however as a result of issues occurred.
Generally, we take issues with no consideration since we have now cash within the financial institution.
Considered one of our objectives for 2024 is to work further arduous and never deviate until it’s 100% obligatory.
Groceries
As talked about, we didn’t do too badly with the grocery finances; nevertheless, we will do higher.
Use extra coupons the place potential
Proceed to make use of Flashfood.
Follow the grocery finances in-store and see offers not on our record.
We have to be lean when purchasing at Costco to keep away from buying pointless gadgets. The arduous half shouldn’t be figuring out what Costco provides; they at all times convey new stuff.
I’m leaving the grocery finances as-is for 2024.
Clothes Prices
Our son grew sooner than we thought he would, which brought on us to spend extra on clothes.
Costs elevated on every part from meals to renovation supplies, so it was a tricky yr.
We are able to’t blame our son for all of the clothes; we’ve bought our justifiable share.
We’ve elevated the finances for a few of these classes other than the grocery expense, as we really feel $900 is workable for our household of three.
Work Advantages Enhance for 2024
My work advantages now cowl 90% of prescriptions, growing from 80% in early 2023.
Additionally, prolonged healthcare has elevated from $2500 to $4500 per particular person, so hopefully, that may preserve this class balanced for 2024.
It’s All About The Pizza
Leisure is a kind of finances classes that may improve by $20 as a result of it’s not one thing we do typically.
If something, we purchase pizza for our son as soon as every week with the cash, or if we’re travelling, we might seize a espresso and muffin.
Pets Can Be Costly
The pet class was horrific, I do know, and that’s due to the vet payments between the brand new cat, photographs, prescriptions, and accidents.
I additionally bought luggage of catnip, cream for accidents, and different sprays for his or her coats.
One battle in 2023 was how a lot moist cat meals we bought.
The brand new cat eats an excessive amount of, and we try to cut back his drawback with a brand new plan.
To this point, issues are going properly.
We now not give every cat a small can of Fancy Feast however two spoonfuls, every with some arduous meals on the aspect.
Hopefully, this may make a distinction within the meals we buy.
Treats are one other story, as they each like their snacks.
Any suggestions are welcome.
In 2023, we additionally bought new toys for the cats, one being a $350 cat train wheel that just one makes use of.
I’m nonetheless uncertain about it, however we’ll wait and see if we will promote it.
Christmas Bills
The renovation of our son’s room and swapping out his younger boy bed room set for an enormous boy queen set, stand-and-sit examine desk, tv, decor, bedding, rug, and so forth boosted the Christmas finances.
It was greater than we’d have spent for Christmas, though we are going to improve the finances for 2024.
Saving $100 month-to-month is inadequate to buy presents for our household and son.
As you already know, he has ASD, and lots of of his toys are to assist him together with his training and improve his sensory processing consciousness.
We didn’t buy items for one another as we now not wanted to trade them.
Though our Christmas finances gained’t be as explosive as this yr, we should enhance our financial savings skill.
12 months-Finish Finances Class Overview
Clothes $3844.40/12= $320.36. We spent an excessive amount of. It ought to have been $100 month-to-month.
Pet $4585.71/12= $382.14 We spent an excessive amount of. It ought to have been $50 month-to-month.
Grocery $12,850.43/12= $1070.86 We spent an excessive amount of. It ought to have been $900 month-to-month.
Christmas $4068.15/12= $339.00 We spent an excessive amount of. It ought to have been $100 month-to-month.
Miscellaneous $2431.30/12= $202.60 We spent below finances of $300 month-to-month.
Prescriptions/Healthcare $1276.12/12= $106.34 We spent an excessive amount of. It ought to have been $90 month-to-month.
Well being and Magnificence $3255.14/12= $271.76 We spent WAY an excessive amount of. It ought to have been $60 month-to-month. With Mrs. CBB transitioning to a brand new skincare routine, this elevated prices. There have been many different causes, however we are going to improve this class.
Prolonged Healthcare $1482.90/12= $123.57 We spent below finances of $200 month-to-month.
Leisure $649.76/12= $54.14 We spent over finances. It ought to have been $50 month-to-month.
2023 Family Percentages For The 12 months
It’s no shock to see our housing ratio for 2023 above the urged 35% with all the renovations we accomplished.
Our Life Ratio wants evaluation for 2024, as mirrored above in our general finances numbers.
Till Subsequent Time!
That’s all for our December 2023 Month-to-month Finances Replace and year-end evaluation.
Thanks for stopping by, and please subscribe in case you are new to CBB.
Learn our finances updates from 2012-current.
Mr. CBB