Day 251

My son just left for school and I'm just slightly in shock to what he said to me before he left for school. "The kids at school think we're poor because we live here." We have a three bedroom house, fenced in yard, a shed an attic, lots of room and in a neighborhood where all the houses look pretty much the same. I rent and it's by no means expensive but we moved here from a small apartment where I paid the same rent. I like the house. There are plenty of kids in the neighborhood for my son to play with. I've painted the house, we have nice furniture, my son has his own play room with two tv's, a couch, xbox, playstation, and a weight bench. (I didn't buy the game systems or the one tv) He plays hockey and snowboards -- both costly sports. My son is by no means doing with out. I think I provide very well for him. 

My son sometimes says we are poor as well and I always tell him we are not poor. I think I make great money for being a single mom. I own my own business that I work hard at and it does well. My sons father doesn't help with anything, not even child support, but my son and I still do ok. All the money right now of course goes to debt but I don't want my son to think we are poor. We just live off what we need right now. 

I think I need to figure out a way to talk about money with him to explain the situation. 

Total Debt Paid: $27, 448

Day 243

I've been back on my laying out my monthly expenses

I've been calculating with a Budget Template which I find great for helping me out with tracking expenses. I downloaded it from the Maxed Out website. It's free to use :D

I never pay my bills on time but I hope to change that. I almost have my monthly bills paid for the house; I'm just one bill away. Then I'll have the business bills to pay. 

GOOD NEWS: I am caught up on my Visa as I was two months behind :(

Total Debt Paid: $27, 448

(I can't wait for this number to be $30,000)

Day 242

So, I laid out my monthly bills and it's pretty scary. So far just for rent, car, heat, hydro, cable, internet on my house and business I am spending over $4,200.  That still does not include groceries, gas and what I would like to put onto debt. It's also the time of year where I advertise and it's about $1000 this month if I decide to take part. It's a once a year thing. I hope this months income will at least cover the bills, groceries, gas with a bit for debt. So far this month all my money has gone to needs...and books. Oh, I'll have to add books to the monthly budget.

Here is what I'm reading now:

The last book I read by Kiyosaki was very informative so I thought I would give this one a try since I own my own business

Cost was $14.95 on iTunes

...and this one I am almost done and just started today. It's a lot about history of business, what's worked and what has failed. I feel like I'm getting a lot of stats and it's stuff I kind of already know.

Cost was $9.95 on iTunes

So far I have spent $36.85 on audio books this month. I put them on my iPod and listen when I can. I walk around with the iPod my pocket and the earphones around my neck when I'm not using them. I have a long list of books I want to get to. After these two books there is another debt book I really want to read. I figure reading biz books will improve my business and I'll make more to pay off debt :D

Total Debt Paid: $27, 148

Day 239

I went to the bank today for a 'financial check up' is what they call it. When I sat down the lady asked me to tell her a bit about me. So, I went on with: single mom, business owner, and I'm flat broke paying off debt. She was totally impressed with how much debt I have been able to pay off at day 239. So, since I don't have any money right now to invest because it's all going to debt we talked about what I would do with my money after I am done paying off my debt. I was just wondering what I was going to do last week so this meeting was helpful. I also locked my RRSP's in for another 4yrs at 4% as they are maturing soon so why not?!! I also learnt a bit about how I can be saving my my son after my debt is paid AND she then suggested I meet an accountant so I did that next and am now on my way to getting on track. The accountant gave me a list of things to gather in the next two weeks before she can help me. 

The book I mentioned below is excellent. I have it on audio and have listened to it twice. It gave me a good foundation in a few areas: taxes, owning a business, liabilities vs assets, why the rich get richer and the poor get poorer, and how to make my money work for me. 

If anyone has any suggestions on books to do with finances I'd love to hear your suggestions. 

Tonight I am going to get started on the homework my new account gave me and start a money flow. 

I've ben keeping track of all my sending and income so far this month. I haven't paid anything to debt because I owe so much in bill right now :(

Total Debt Paid: 27, 148

Day 233

I've made it through the holidays :D I think I spent about $700ish on Christmas gifts. (ouch!) I do dislike that about Christmas. The gift buying is crazy. My family totally over does it. I still spent less than they did and I do feel a bit cheap but I can't afford to be a crazy shopper.

On New Years I didn't spend any money...except gas money so maybe $20. I went to a friends and played Wii. It was just three of there and we had a blast. It was so much better than getting into the bar scene and I started the new Year working out -- hopefully a good sign. I use to be huge into fitness. I worked as a trainer in a gym but then I got busy with my own business and took a break which has now been two years. So, I really miss it and I'm back in the books trying to re-learn what i have forgotten over time

I bought the Rich Dad Poor Dad book. I've heard at least three times now that it's the best book ever read. I bought it on iTunes for about $16. It's the audio book and I have it on my iPod so I plan on listening to it while cleaning. I'm a big fan of audio books. It's the multi-tasking of listening and driving or cleaning that I can do at the same time that I love.

I'll report back on my review of the book. I'm sure I'll have it done next week.

Still, I continue to be flat broke. All my money is going to bills right now. I think it will take me two months to catch up as I still recovery from the high deposits from the move. I made $1500 on Dec 20th that I am waiting to be paid for and with that I will FINALLY buy my washer and dryer

Total Dent Paid: $27, 148