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CBB October 2023 Budget Update

Hoca

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Welcome to the October 2023 Budget Update edition for the CBB family.

Today, I will detail how our month of expenses went and explain where the money went.

My apologies that this post is late, but life got in the way. Thanks for understanding.

October 2023 Monthly Budget

October 2023 Monthly Budget

Why Do I Share Our Monthly Budget?​


I look forward to putting this post together as it lets us see where our money was spent.

A budget also acts as a diary for your expenses so you can look back to see success and failure.

After all, we can only be successful if we learn from the mistakes we make along the way.

Our budget update also lets readers know that we are NOT perfect and must make changes like everyone else.

We use the tools (Free budget Binder), and I hope you have downloaded your free copy.

If there’s any information that you’d like to know or explain about our budget, please share your comments below.

Alright, let’s get into this.

Discussion October 2023 Budget​


Overall, we had a regular month of expenses with some overage.

The massive expense was the $20,000 renovation for the outside of the home.

Our renovation expenses are small as I finish the master bathroom and the garage stairs.

I’m also painting our son’s room to create a big-boy room with a queen-sized bed set, desk, and decor.

Enjoy the read, and as always, I appreciate your kind feedback and suggestions in the comment section.

Mr. CBB

Percentages For the October 2023 Budget​

October 2023 Month by Month

October 2023 Month by Month

As you can see, our housing ratio for 2023 has been high due to the amount of renovations we’ve been tackling.

Otherwise, we seem balanced and focused on our yearly financial goals.

Budget Month Comparison​


We had a -25.52% change in total net income for the month and an increase in expenses of 3% compared to September. Renovation expenses take the majority of the rise.

Budget From Month to Month

Budget From Month to Month

October 2023 Household Budget Percentages​

October 2023 Household Percentages

October 2023 Household Percentages

Savings of 22.97% in October include
investments, and savings are based on our net income.

The housing ratio stands out the most at % because we paid the remainder of the siding, gutter, and eavestrough renovation $20,000.

These renovation expenses were budgeted over the last 15 years of owning our home.

Our Life Ratio is 29.73%, which increased in October.

Life contains everything from groceries, entertainment, miscellaneous, health/beauty, clothing, etc.

It’s always lovely to see our transportation costs low as they can be costly for many people.

Our truck has no loan, and only one of us goes to work, making things cheaper even though gas prices are exponentially high.

Equally important is saving money for our projected expenses due throughout the year.

All categories took 100% of our income, showing we accounted for all the revenue in October 2023.

Both housing and transportation stay below the monthly percentage points.

We have zero debt, which helps fund other budget categories to maximize investments and savings.

Grocery Food Savings Jar October Update​


Soon, I will be writing a detailed blog post about why we will track our grocery discounts.

Update: Tracking Our Grocery Discounts For One Year + Free Printable

I will tally it at the end of the year to see how much we saved buying reduced food products.

For October 2023, we saved $80.35 by purchasing food that was reduced in price.

Also, we received free food from the Flashfood app using rewards points that I don’t calculate into our grocery expenses.

So far, in 2023, purchasing discounted food has saved us $1022.62.

That’s Awesome!!

Grocery Food Savings Jar October 2023

Grocery Food Savings Jar October 2023

October 2023 Budget and Actual Budget​


Below are two tables: Our October 2023 Budget and our Actual Budget.

Our October 2023 monthly budget represents two adults and a 9-year-old boy.

Budget Colour Key: It is a projected expense
when highlighted in blue.

Since May 2014, we’ve been mortgage-free, redirecting our money into investments and home improvement projects.

Spending less than we earn and budgeting has been the easiest way to pay off our debt and save money.

This type of budget is a zero-based budget where all the money has a home.

Estimated October 2023 Budget​

October 2023 Monthly Budgeted Amount

October 2023 Monthly Budgeted Amount

Actual October 2023 Budget​

October 2023 Monthly Actual Amount

October 2023 Monthly Actual Amount

I just noticed an error in the budget, which I must fix for November!

It’s nothing major, just Healthcare should be Extended Healthcare on both photos.

Canadian Banks, We Use​

Breakdown Of Our October 2023 Budget​


Below are some of our variable expenses from October, apart from investments.

In October, we spent $28,179.93 or $21,324.93 over budget of $6,840.26, so let’s look at where the extra cash went.

YES! We started shopping for Christmas.

October 2023 Budget Category Changes​


We discussed the increase to our budget categories for birthday, pet, grocery, and telecommunications and decided to do this in the new year since we are months away.

Household Bills and Expenses​


Below is an explanation of the budget categories from October 2023 that were over budget or need clarification.

Grocery Budget October 2023 Budget​


Our monthly grocery budget is $900 plus a $25 stockpile budget.

We spent $109 over budget for October on groceries, much higher than most months.

I went overboard on the groceries in October only because I found many deals on our products.

Moving forward, we will see a decline in our grocery expenses.

After Mrs. CBB’s emergency major surgery, she is unable to eat many foods until her stomach heals.

When I eat alone, I’m simple and grab salads and a protein such as tuna, salmon, and eggs.

Our son eats pizza and grilled cheese for dinner on rotation because of his sensory processing disorder.

Mainly on the weekend, I cook meals that will last me a few days into the week.

I like eating various foods and baking or cooking meals for friends and family.

Pet Expenses​


As always, our pet expenses exceed what we have budgeted for the year.

We must remember it was for one cat when I created the budget, but we adopted a second one.

The expenses doubled, and we underestimated how much the new cat would eat.

Starting in 2024, we will increase the budget accordingly based on the expenses for 2023.

It made sense to wait only because we have the money for the monthly overage; plus, we wanted to tally up what 2023 expenses were.

If you do not have the extra cash as we do, it’s essential to update your budget as soon as possible.

Clothing​


Besides a few purchases at the second-hand store, we didn’t get much for clothing in October.

She also paid for purchases her sister made as they were shopping in the town together.

Health And Beauty​


Blame it on Mrs. CBB! Haha.

These expenses cover everything from cleaning supplies to shampoo, medications, etc.

Some months are higher than others based on the products Mrs. CBB purchases, as they are a bit costly, but she values her complexion and hair.

Since she has skin allergies, she has to be particular about what products she buys.

Two years ago she was diagnosed with a limonene allergy and has to avoid products containing it.

Prescriptions​


Our monthly prescriptions are holding steady, and for 2024, we will certainly have a category increase.

I’m considering doing a blog post about my benefits package to analyze what our family gets and doesn’t get compared to others.

Birthday​


In October, our son attended four birthday parties for his friends, which is why there is an increase.

We did not anticipate this, nor can we in the future, as we don’t know how many parties he will get invited to.

In 2024, we will set a birthday gift budget for any parties he attends.

For example, the gift will have a maximum expense for any party he attends.

FlashFood App​


We didn’t pick anything up from Flashfood in October, so our savings are still $380 for the year.

Flashfood October 2023

Flashfood October 2023

PC Optimum Points​


Unfortunately, I must have deleted the screenshot I took for this post at the beginning of October.

The points below reflect November 24th, after spending 250,000 for the Mega Bonus Redemption.

PC Optimum Points October 2023

PC Optimum Points October 2023

TD Visa Cash Back Amount​

TD-Cash-Back-Visa-Card

TD-Cash-Back-Visa-Card

Our TD Visa has a cashback balance of $370.74.

One of my readers asked if this is what we earn monthly in rewards, and the answer is no.

This was many years in the making, as it’s a primary TD rewards card that we use only for online purchases.

If you are with TD, what credit card do you use? Comment below.

Canadian Tire Triangle Rewards October 2023​


Typically, my expenses are put on my Canadian Tire MasterCard apart from Costco CIBC MasterCard for gas and groceries and PC World Elite MasterCard for groceries.

I’ve made several purchases at Canadian Tire in the last few months, and my balance results from these expenses.

Triangle Credit Card Points Canadian Tire October 2023

Triangle Credit Card Points Canadian Tire October 2023

October 2023 CBB Net Worth Update​

October 2023 Net Worth Update

October 2023 Net Worth Update

The investment portfolios went south in September by $20,447.07 or -2.14%. but increased in October by $15,766.22 or 1.07%.

Until Next Time!​


That’s all for our October 2023 Monthly Budget,

If there’s something you’d like to see in our monthly update, hit reply to this email and let me know.

Thanks for stopping by, and please subscribe if you are new to CBB.

Read our budget updates from 2012-current.

Mr. CBB

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