FI/RE Things I did lately

Here is a list of random FI/RE things I have done lately that may or may not inspire you to make your own list of accomplishments, or add some things to your FI/RE to dos. Happy Spring!

After listening to this episode of Explore FI Canada and reading this post, I Increased mortgage payments.

I opened an RRSP with Questrade, invested in VBAL & VGRO with Vanguard Canada (50/50 split). This gives me a mix of 70% stocks, 30% bonds. I have intended to do this for some time, but now I can actually do it since I’m debt-free. Most of my portfolio is still in mutual funds, however it’s a start in the right direction.

I reduced my car insurance coverage to reflect my old vehicles and the fact that I’m no longer commuting to work (originally, I was laid off due to COVID-19, but I have started back to work full time, from home, this week. HURRAY!)

I bought seeds to start a veggie garden to save on produce during harvest time. Pics to follow!

I sold a bunch of our belongings we no longer need.

I delayed the purchase of several non-essential items due to unemployment, however this has the side-benefit of money staying with me longer to gain interest, AND it allows us to consider if we really need these things in the first place.

Back in May, I rejigged our budget in YNAB move dollars from non-essential or non-urgent categories (ex. Home improvement, Vacations), to only absolutely essential expenses for the next 2 months.  This was to ensure we have enough to survive without a big chunk of income through the end of July. I like this idea so much that I am going to leave it as is. Now, all income can be used to fill up the sinking funds again, and eventually fund August’s essential expenses. We’ll always be 2 months ahead of the game to be ready for future uncertainties.

There is much more to come in the next couple of months. I felt the need regardless to recognize what I HAVE done to make myself feel better about the loss of income. My path to FI/RE isn’t fast or focused at the moment, but this is a reminder that I can take steps in the right direction even when life turns completely upside down.

What FI/REy things did you accomplish lately?

Take care of yourselves. June Financial Independence report coming soon!

6 Replies to “FI/RE Things I did lately”

  1. Congrats on being debt free and going back to work!

    We just paid off our last payment on a 48 month car loan (0%) on my husbands car, so we are also debt free! The extra $500/month is going into our TFSAs!

    I look forward to pics of the garden. We have been harvesting so many salad greens, we have given big bags to our neighbours too. Happy planting!

    1. Thank you. Your accomplishment is amazing, Shaidah!!! Congrats on being debt free, it feels sooo good!! I’m glad you are already harvesting…my lettuce is about 1 cm high right now. The season is a bit slower over here on the east coast. Happy gardening!

  2. Great job on the mortgage payments.

    Since I’m not spending as much due to Covid I’ve started an automatic extra $50/month payment on my student loans (in addition to my current monthly payment). Its not much but I’m hoping I can sustain it long term and shorten my payment term by 6 months!

    1. Anique! This is fantastic! I bet after a while you won’t really miss the extra $50. I find that I seem to adjust to these changes after a period of time. I just increased my RRSP & TFSA transfers to get a higher savings rate now that I’m working. I hope soon I won’t really miss that either.

    1. Thank you for stopping by Chrissy. It is my pleasure to always promote the podcast, I need to catch up now as I’m way behind on my listening! I hope you are well.

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