The Frugal Canadian

A frugal spender seeks to find new ways to save money and increase her net worth.

Saturday, December 31, 2005

2006 Goals

Happy New Year to everyone and I hope you're all enjoying your holidays.

It's been 3 months since I started my 25K Challenge and I'm quite pleased with my progress. I've increased my net worth by $5,600 in just three months and I must admit that the savings progress has become somewhat addictive. The more I save, the more I want to continue to save as I watch my funds grow.

I thought since the New Year was approaching I should develop some new goals for myself.

My 2006 goals are:

- Continue to save $2000 per month to meet my 25K challenge

- My salary increase(yet to be determined) will be directed to 50% RRSP savings and 50% to a wedding fund(Yay - I got engaged over the holidays!)

- When I think I need groceries, wait 2-3 days and use up items in the cupboards and fridge and cut down waste on produce and fresh foods (I am horrible at this!)

- Complete full evaluation of my portfolio quarterly to determine if it needs rebalancing and ensure it's achieving an appropriate return

- Put a significant effort into my tax preparation business that I run on the side. In the past couple of years, I haven't marketed this as heavily as I could have. At an average of $75 per tax return, it can really add some additional income

- Seek lower insurance rates by raising deductibles on my car

- Get VOIP set up. I generally don't make that many long distance calls, but because I only have a cell phone, they are very expensive.


At 8:15 PM, Anonymous Anonymous said...

Sorry for the dumb question - but was is "CCE"?

At 10:17 AM, Blogger The Frugal Canadian said...

CCE stands for cash and cash equivalents. Cash equivalents are items such as GICs/money market funds which are easily converted to cash but earn a modest return

At 10:23 AM, Anonymous Anonymous said...

Ok, great! I'll sow this Blog to my wife, this will help us save better! keep up the great work girl!


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