Off to a false start

So I decided we needed to take control of our financial situation, got all pumped up about it and then continued our usual spending habits. So we have gone back to the start and our ready to try again.

This time we have got he help of a financial advisor from our bank. She was able to hit us with a reality check and I think we are now ready to do this. A few things happened at the bank.

1. She spoke to us about mortgages, costs of house closing, taxes and gave us a number we need to aim for to save.

2. She set us both up with RRSP's. We will be able to use this money to buy our first home and reap the tax benefits. She set us up with a pre payment plan so the money will come directly from our account and buy $1000 each month.

3. She set us up with an automatic withdrawal so we can start really hacking away at our debts.

I am hoping to be able to reach our goal of buying a home within the next 18 months. I revisited our budget when we left the meeting and feel really good about the plan we now have.

Packing the car

Today is the first day of this journey, but before I can hit the road I need to pack the car. Broke Husband and I sat down the other day and discussed our financial goals. We both came to the same conclusion. We want to buy a house. No we need to buy a house. With 2 small kids in a small space apartment living is becoming more difficult with each passing day.

So where are we with our goal of buying a house. Well not even close. With $18,000 in credit card debt and chump change in our savings account buying a house almost sounds like a joke. But I am determined to bring this goal within our grasp.

So today I pack the car

Item #1 Budget book. A simple notebook where we can track money in and money out. We need to see exactly where our money is going

Item #2 Small notebook. Something I can put in my purse and use to write down every single thing, no matter how small a purchase

Item #3 Budget. Figure out how much we make and what our fixed expenses are. From that figure out what we can afford to buy groceries, gas, cable, phone all the while having enough to put into savings and pay off credit cards.

Item # 4 A freezer bag. One that all 4 of our credit cards will fit into so we can fill it with water and stick it in the back of the freezer.

So the car is packed. I'm sure we will pick up a few more items along the way. But for now we are off.

Broke Girl

Hello I am Broke Girl and I am broke

There I said it, put it out there into the universe. It's the first step is admitting you have a problem. Isn't it? Problem is I think I am rich, I act like I have money, but really I don't. I spend spend spend buying useless crap after useless crap. O.k that's a lie. Broke Husband buys useless crap after useless crap, while I buy food. Yeah that's right I admit it I spend most of my money at the grocery store, so not only am I broke but I am fat.

Well that's it! Not only am I tired of being fat, but I am tired of being broke. This is my journey to figuring out money, how to spend it and how to save it. It's time to get on the road and hopefully enjoy the journey.

Broke Girl