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CBB February 2024 Budget Update

Hoca

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Join us for the February 2024 budget update from the Canadian Budget Binder family. See how we manage our money, learn from our mistakes, and strive for financial success.

If you’re new to CBB, this is a monthly budget breakdown so you can see how we spend and save money.

We apply a zero-based budget to an Excel spreadsheet I created and offer all blog subscribers for free.

February-Budget-2024-Update-Canadian-Budget-Binder

Why 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 or reply to this email.

Alright, let’s get into this.

Discussion February 2024 Budget​


Again, it was a relatively quiet month for us; however, we did dabble with the online app TEMU.

Everyone has their views about the app, but as a finance blogger, I wanted to understand the hype.

We placed several orders over the past two months and learned two things.

  • Always read the measurements of what you are purchasing.
  • You can find some bargains if you know what you’re looking for.

I’d love to read feedback from anyone who uses or has used TEMU. Reply to this email or comment below.

The plan is to write a blog review about the app to let other readers know about our experience and anyone else who wants to share.

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

Percentages For Our February 2024 Budget​

February 2024 Month by Month

Our February 2024 Month by Month

The year-to-date percentage chart is another way to chart our household budget.

February 2024 Household Budget Percentages​

February 2024 Household Percentages

Our February 2024 Household Percentages

Savings of 48.00% include
investments and savings based on our net income.

Our life ratio of 27.85% contains everything from groceries, entertainment, miscellaneous items, health/beauty, clothing, etc, all of which are variable expenses.

The life ratio is over again this month, which we attribute to extra health purchases in bulk, as described below.

Our house and vehicle are paid for, and we have zero consumer debt; however, we still pay property taxes and maintenance fees of 7.60%.

The projected expenses of 11.56% can change based on what we encounter monthly, such as a new item we need to save for.

Grocery Breakdown February​


A reader emailed me asking if I could share what we purchased for groceries in February.

We try to find the best prices using the Flipp App, coupons, and bargains through Flashfood and reduced in-store pricing.

You may find that we bulk purchase items such as apple juice from Zehrs.

Our son drinks lots of it mixed with water, and we bulk buy when PC Optimum Points are available for juice.

Also, our son may have ARFID, which stands for Avoidance/Restrictive Food Intake Disorder.

Avoidant/restrictive food intake disorder (ARFID) is a fairly new eating disorder. Children with ARFID are extremely selective eaters and sometimes have little interest in eating food. They may eat a limited variety of preferred foods, which can lead to poor growth and poor nutrition.

Kids Health

We buy foods for him to try, and he either likes them or doesn’t.

I often gift what he doesn’t like to our neighbour with three children.

I also purchase items to create recipes on the blog, although I know no business compensation for these expenses.

Zehrs​

  • Ice cream cups $3.79 (Food Basics sold out)
  • Organika French Vanilla Yogurt x 2 50% off $5.50
  • Protein Crisps x 2 50% off $2.94
  • Blackberries 50% off $2.50
  • Blueberries x 2 $3.44 Sale
  • Bosc Pears x4 $3.87 (new for son to try)
  • PC Apple Juice Not From Concentrate x 6 $24.00
  • Large Eggs $3.79
  • PC Wiltshire Bacon x5 50% off $20
  • Nescafe Instant Coffee x 3 Sale $4.99-$2.00 coupons
  • PC Apple Juice NFC $12.00
  • Truetaste Milk 1% x 2 Member Price -$4.00 $10.00
  • Harvest Crunch Salad Kit x 2 50% off $6.00
  • PC Mushrooms 50% off $1.75
  • Gala Apple Bag Member price $5.99
  • Blueberries Fresh $3.44 Sale
  • Frozen Shrimp x 3 Sale $24.00
  • Oatmeal Cookies Bakery (me…) 50% off $3.50
  • Earned 17,500 PC Optimum Points
  • Earned 3000 PC Optimum Points
  • Earned 1200 PC Optimum Points

Walmart​

  • Sealtest Milk 1 L Reduced $1.29 x 2
  • Fuji Apples $4.23
  • Dijon Mustard $1.97
  • Bananas $0.98
  • Shrimp $9.97
  • Kale Reduced $2.06

Shoppers Drug Mart​

  • 2 x PC Caesar Salad Kit 50% off $6.98
  • Date Squares 50% off $3.14 Ya, I know I have a fantastic recipe, but it was one of those nights where the date squares won the battle.

Costco​

  • Purelife water x 3 $3.29
  • Fairlife Chocolate Protein Drink $42.99
  • Kirkland Greek Yogurt $11.49
  • Bran Buds $9.99
  • Taster Choice Instant Coffee x 2 $12.99
  • Kosher Dill $6.99
  • Hellmans Mayo $8.50 Sale
  • Nano Yogurt Drinks x 2 $10.00 each Sale
  • Salmon $34.99
  • Mini cukes $5.49
  • German Salami x 2 $14.99
  • Bavarian rye Bread $4.99
  • Keto Tortilla $6.49

Amazon​

  • Dill Mustard $7.99
  • 1 Net Carb Mr. Tortillas $28.00 40 pack
  • Triscuits x2 $5.00

Food Basics​

  • Selection Bran Flakes $4.44
  • Avocado Bag $3.98
  • Premium Bananas $1.70
  • Asparagus $1.88
  • Oikos Vanilla Greek Yogurt x3 50% off $9.00
  • Selection Coffee Cream 3 x $2.97

Flashfood App February​


Unfortunately, I don’t have the exact products as the app wipes it out. I’m taking screenshots now, so I have them for reference.

If I remember correctly, we purchased large blocks of Saputo mozzarella cheese, yogurt, and milk.

  • $24.00
  • $5.48
  • $14.99
  • $10.47

52-Week Savings Challenge​


In December, I started a 52-week Savings Challenge and asked my readers if they wanted to participate.

Below is the jar we created to save the money for twelve months.

Our son stated that he wanted to participate, so it was decided that he would save his allowance or any other money he earned.

In the savings jar for February, there is $20 or $5 weekly for his allowance, totalling $40 for 2024.

We don’t count the extra days; we only count the full weeks monthly.

Jr CBB 52 week savings challenge 2024 February

Jr CBB 52-week savings challenge 2024 February

Below is a CBB fan joining us in the savings challenge and keeping herself accountable by sharing with all of you.

Hello, it’s me, TFSASaver, with my update.

My goal for each money to save is $62.

I saved the following:

  • $8 sold 2 small items
  • $40 (I talked myself out of buying any lotto tickets this month) and transferred that money into my savings account.
  • $20 used $20 worth of PC Optimum points at my grocery shop and took $20 and put it directly into the savings account.

Note: I have to transfer the money immediately, or I will forget to do it!

This challenge makes me more conscious about the unnecessary “wants” I face during the month.

We also had no unplanned dining out this month (1 planned occasion with family), So I feel good about that.

Thank you!

Great question from our reader below. If anyone wants to answer her, leave a comment.

An idea for a Question and Answer is regarding the lottery.

How much can people cut back by chopping out this “tax on the foolish,” as I tell myself, even though I constantly see ads promoting the lottery?

It is an area of weakness for me.

Grocery Food Savings Jar January 2024 Update​

Grocery Food Savings Jar February 2024

Grocery Food Savings Jar February 2024

Why will we track our grocery discounts for the entire year?

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.

Read the 2023 End of Year Grocery Food Savings Jar Review.

We saved $146.72 for February using coupons, rewards apps, and Flashfood.

So far, in 2024, purchasing discounted food has saved us $280.93.

That’s Awesome!!

February 2024 Estimated Budget and Actual Budget​


Below are two tables: Our February 2024 Budget and our Actual Budget.

Our February 2024 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 February 2024 Budget​

Budget From Month to Month

Budget From Month to Month January to February 2024

We may not need all of the money we budgeted for in each category. However, it’s better to be over or under budget for expenses.

Don’t forget to budget for projected expenses because your entire month can fail due to not planning.

February 2024 Monthly Budgeted Amount

Our February 2024 Monthly Budgeted Amount

Actual February 2024 Budget​

February 2024 Monthly Actual Amount

Our February 2024 Monthly Actual Amount

Canadian Banks, We Use​

Breakdown Of Our February 2024 Budget​


Below are some of our variable expenses from February, apart from investments that I will discuss.

February 2024 Budget Category Changes​


Our budget categories remained the same in February, apart from a mathematical error I made last month for telecommunications.

Since then, I have rectified that by decreasing our monthly expenses to $180, although this changes frequently as Spotify, Rogers, and Freedom Mobile may increase prices.

I can’t complain with Freedom; they have charged me only $21 for years, and I get 11GB of data monthly.

The biggest culprit is typically Rogers; yearly, we may see Spotify increase by $1.

Household Bills and Expenses February 2024 Budget​


Below is an explanation of the budget categories from February 2024 that were over budget or need clarification.

Grocery Budget February 2024 Budget​


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

We spent $842.00, or $58, under budget for our February groceries.

That doesn’t happen often, but when it does, it’s a happy time at the CBB home.

Groceries are our most formidable competitor, as it’s a fight between budget, mouth, and stomach.

Pet Expenses​


In February, our pet expenses of $350.00-$301.75 = $48.25 came under budget for our two cats… a miracle!!

There was another med charge for Big Ginger, as his nose is not improving.

It gets crusty, which we thought was food, sometimes, but when we wipe it with a warm wipe, there is blood.

We bought him special food for $69 this month from Chewy, a unique new Canadian pet food company from which we order.

However, we don’t think he’s allergic to his food. The other option is to get blood tests done to see what comes up.

New Wet Cat Food Alert!​


We may have figured out a brand of food Mr. Black Snack Cat likes called Dashi Delights.

It costs around $24 for a 12-pack, so it’s not cheap, but at least he eats it all.

Often, I find that they want fresh food and won’t eat leftovers as they get crunchy. (I don’t blame them.)

Big Ginger loves his food but not so much the snacks, and he prefers Fancy Feast creamy varieties such as Florentine.

The cost is less expensive than the Dashi Delights, but both cats will eat it.

If we could go back and do it all over again, we’d likely stick to dry cat food, although the vet said that wet cat food is also acceptable.

Balance is critical, even with pets, and that’s a struggle now that we have them in our routine.

They also each have a bowl of dry cat food that they eat between meals or when we aren’t home and they are hungry.

Sometimes Big Ginger has wet food with a side of dry, haha!

Our cats are total opposites.

If you own a cat or cats, how do you entertain them daily? Our cats whine when we are home to play all day until they sleep.

Hit reply or comment below and tips you can give us.

Don’t get upset if we messed up cat parenting rules. We know.

Health And Beauty​


Budgeted $270- $474.70 actual health and beauty expenses means we were over budget by $204.70 in February.

The overage mainly comes from buying in bulk products, such as iron pills from Amazon that were out of stock for months.

Unfortunately, Mrs. CBB needs a particular brand of iron pills as she is borderline anemic right now.

Also, she purchased whey protein powder to increase her daily protein numbers.

Unfortunately, the whey is not working for her as it gives her stomach problems, such as too much gas.

She found a new company that makes a vegan plant protein powder and has fallen in love with it.

Not only does she have no gas, but she also has no chalky taste, and she says the flavours are so good.

To get free shipping, she had to spend x amount of dollars, plus they had a sale on gingerbread protein powder, so she stocked up.

I’ll have more info on the company and product as soon as I can get you all a discount code to save you some money.

A pitstop at Costco meant we stocked up on paper towels, face wipes *for our son), toilet paper, and other household necessities.

Lastly, she purchased a SkinCeuticals product for around $132 for her fine lines and blemishes.

Since she has a limonene allergy, she is limited in the types of health and beauty products she can buy.

FlashFood App​


Every person who signs up gets a $3 credit, a freebie offered by Flashfood for new app customers.

Use my referral code, MOCD28ZN4, to get the $3 credit, and your first purchase must be over $15.

For the record, FlashFood keeps changing the referral earnings from $3 to $5 for new members who sign up for free.

So you may get more or less money based on how they feel for the month. It’s free money, so no complaints here.

We spent $54.94 on groceries using Flashfood, although I don’t know the savings. I’ll work on tracking that for March.

PC Optimum Rewards Points 2024​


We started 2024 with under 7 million PC Optimum Points, or $6830, and now at $6390, or 6,937,857 points.

I know many of you might think this is a massive number of points, and we agree.

The process of saving them started after our son was born in 2014.

Between diapers and formula, we amassed points faster than we could spend them.

Yes, we have redeemed many times, but only during their Mega Bonus Event at Christmas.

Redeem 250,000 points for $500; I believe it was $600 at one point.

Shoppers Optimum February 2024

Shoppers Optimum February 2024

TD Visa Cash Back Amount​

TD Visa CashBack

TD Visa CashBack Feb 2024

Our TD Visa has a cash back balance of February 29, 2024, which is $413.25.

Canadian Tire Triangle Rewards February 2024​


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.

We also only shop on 20x or 30x the Triangle Rewards days!

February 2024 Triangle Rewards

February 2024 Triangle Rewards

Dream Air Miles​


I’m adding Air Miles because they emailed Mrs. CBB, and we realized we hadn’t invested much interest in the program.

Most points are from our house and car insurance, which offer Air Miles.

There was a point where we had to choose Cash Miles or Dream Miles.

Since my family lives in the UK, we felt the Dream Miles would have worked best for us.

I hope to explore this program in 2024 and would love feedback from all of you who invest the time into building miles.

Hit reply and tell me about your Air Miles experiences.

Air Miles Dream Miles CBB Update 2024

Air Miles Dream Miles CBB Update 2024

February 2024 CBB Net Worth Update​


After tallying three rewards cards, we found $8222.33 in cash/rewards to redeem.

This amount is not factored into our net worth, although $1292.33 of Canadian Tire rewards and TD Rewards are cash.

The investment portfolios increased by $45,541.68 or 4.49% in February.

In February, I invested in my RRSP by about $10,500, which was the available room.

We increased our net worth by 2.15% or $34,005.76 in February.

If you have any specific questions about how we invest our money, please comment below, and I’d be happy to answer them.

Networth Update February 2024 CBB

Networth Update February 2024 CBB

Until Next Time!​


That’s all for our February 2024 Monthly Budget.

I will be back in April to review our March 2024 monthly budget.

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

Thanks for stopping by, and please subscribe if you are new to CBB to get my weekly blog post and monthly newsletter.

Read our budget updates from 2012-current.

Mr. CBB

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