Monthly FIRE (Financial Independence) Report – April 2020

I had to REALLY think about it, but I calculated that this is month 19 of shooting for FIRE! WHOOHOO!! Seems like a long time but also, a short time.

Additionally, it took a LOT of effort to figure out that this is day 53 of isolation. I’m still not working, but hoping to get back to work late next week if the stars align. Please do not be surprised if I am unable to form coherent thoughts in this post. It’s been…interesting. The good news is, I’ve had a taste of what it might be like to be FIRE’d, but with different circumstances. This has helped me learn what I want to do and don’t want to do post-retirement. In a sense I really lucked out – this is a very rare opportunity to experience during working life.

Anyway, I could analyze that for days. Let’s move on to the meat of this report, which is the reason we are here today.

Highlights

Saved: $398. I’m contributing a small amount to RRSPs, as is Hubs. And RESP. TFSA is just sitting right now. I’m not counting my allowance in here yet. Still debating if I should.

Extra Income from Side Hustles: $15. I really slacked off in April.

Expenses:

Category $ Relevant Notes of Notey-ness
Mortgage Interest 472
Mortgage Principal 645
Interest Charges & Bank Fees 3
Property Tax 250
Childcare 0 Daycares are still closed here. Opening May 19th. Unfortunately we now have to pay for FULL TIME child care vs just after school child care as schools are closed until September…regardless of whether I get back to work or not.
Parking 115
Auto Insurance 92 This will be going down to $56 in May, as I contacted my insurance company to reduce coverage & mileage driven.
Life Insurance 156
Electric 230
Internet 124 I need to see if I can get this lowered. It’s high speed (Fibre Op) but seems like a lot for just internet. Can you feel me, people?
Netflix 14
Mobile Phones 75 2 cell phones on Public Mobile. Message me for a referral code to get a discount!
Water & Sewer 236
Groceries, Toiletries, Supplies 1022 Pretty much the same as last month…ugh.
Fuel 35 Best fuel month ever. This was a full tank of gas – about 52 litres. Insanity. So yeah, basically we went nowhere.
Medical, Eye care, Prescriptions, Vitamins 15 Prescription
Health & Fitness, Sports 20 WW. I am unfortunately WAY off plan during quarantine, trying to get back on the bandwagon.
Giving 10
Haircuts 0 Obvs. I gave Hubs a haircut but was kind enough not to charge him.
Heat (Wood & Propane) 0 YAY. It snowed a few times in April and 2x in May already…fortunately it didn’t get that cold in April so we did not need to light a fire.
Vacations 0 Obvs.
Auto Repair, Maintenance, Registration & License Renewals 476 Seized Caliper on VW. Caused all kinds of problems. Plus some tire changes.
Home Improvement, Services, Supplies & Maintenance 195 New exterior doorknob (which I replaced all by myself, TYVM), pillow for Hubs, night lights, new heat shields for BBQ.
Gifts & Holiday Expenses 5 A last minute Easter thang
Clothing 20 Leggings for me. Quarantine pants of choice.
New Tech 0
Annual Memberships & Subscriptions 0
Education 0
UNKNOWN expense 0 HURRAY!
Allowance – M 5
Allowance – I 220
Allowance – T 272 We went over budget on allowances this month. Theoretically we should be paying back the family account from our allowance account however we often forget. That said, much of the “allowance” category is saved in the respective accounts, but I’d rather just count it as an expense since it’s typically saved up to spend on something big or invested. I did spend $ on art supplies this month so that I can entertain myself during quarantine!
Dining Out – Family 71 Better than last month. Hurray!
Entertainment – Family 0
Lotto Tickets 0
Alcohol 103 We ran out of all the things. Beer! Wine! Rum! I still have some restocking to do…we’re pretty much back to zero on all of those things.
Business Transactions 0
Total Expenses $4,881

If you have not read any of my previous FIRE reports, you won’t know that this is the LOWEST SPENDING MONTH WE HAVE EVER HAD.

All it took was a world-wide pandemic and lock-down.

Anyhoo, things should be interesting in the month of May. Businesses are starting to open up again, as are post-secondary institutions. Borders here are still closed to other countries and provinces. We have the lowest infection rate in North America. Fantastic, but also scary to think that people, and possibly us, are sending our children back to day care next week. Although, that has been the reality for the past 2 months for our essential workers.  THANK YOU essential workers!

How was your financial health this past month? Other than a plummeting net worth, we did alright in month 19. Income dropped dramatically of course, but we hope it will be resolved very soon. Let me know how you are doing in the comments!

 

3 Replies to “Monthly FIRE (Financial Independence) Report – April 2020”

  1. Ouch that is pricey for internet! $21,000 ish for ten years….as Mr. Money Mushtache would calculate it. 😉

    We’re around $40/month. However, it is only two of us and we don’t have super speed requirements. It is unlimited downloads though.

    Nice work on the lowest spending month ever! I think ours is probably pretty close, with one vehicle off the road and $0 in fuel.

    1. Right?? Bell and Rogers have a bit of a monopoly around here, but maybe I can somehow pit them against each other to get a lower rate. $40 a month is amazing!! I think I can do better.

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