We Bought a House (Almost)

Should you buy a house

I’ve been so positively anti-home ownership for the longest time. I write about how it’s a thing your parents tell you to do with no understanding of today’s reality or how I’d rather buy a good mattress instead. I’m so anti-house, I laugh at those spending hundreds of thousands on dinky properties within the city.

Until I fell for one.

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January 2019 Financial Update

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A very late update – but I’ve been ultra-busy. New job, new hobbies (I blame you free Xbox I won from work!) have kept me away from reflecting on my finances. Bad, eh?

In January, I spent $1869.07 for a savings rate of 73.36% with a net worth gain of $12,707.28. Yes – that’s absolutely huge, but a lot of it has to with the recovering markets after a tough December, not to mention my new job’s generous compensation package which includes all sorts of frills like stock incentives, RRSP match, etc.

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November 2018 Financial Update

A record month of spending and saving!

 

November

What a month!

This month I spent an all-time one month high of $3,460.64 (blame Cyber Monday and some frivolity), but also recorded a record 84.29% savings rate with a net worth gain of $19,135.05. Talk about huge! This will decrease the ret of the way, but I did surpass $200K in net worth far ahead of schedule!

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I Got My Six Figure Salary. Then I Inflated My Lifestyle!

Making more = Splurging more.

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Aspiring to be frugal is a funny thing. For all my posting about how I stay entertained in downtown Toronto on the cheap to how by despite making more money nothing in my lifestyle would change, reality sure has been different.

For context, when I changed jobs, my salary jumped a whopping 22%. When I saw the offer letter, I immediately thought to myself: “Yay! Expedited FIRE here I come!”

Well, as nice as that aspiration has been, my spending from January to June 2018 has gone up 21% compared to all of 2017. Mathematically speaking, 21% of a monthly spend versus 22% of an annual increase is kind of like comparing apples to oranges, but nonetheless I realized I’ve basically inflated my lifestyle without even knowing it.

Starting in January financial update post I was making up plenty of reasons why my expenses had gone up, ranging from Christmas gifts, to the need for new shoes, to suits, etc. But all that was a list of excuses. I’m spending more and I think today is the day I’ve figured out why.

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October 2018 Financial Update

Slowing growth.

October 2018

October was a rough month for many of us – shares dipped globally, meaning everyone’s net worth was largely flat, mine included.

This month I spent $2187.34, for an incredible 66.35% savings rate with a net worth gain of $2051.62. This should really increase next month when I start a new job with an added signing bonus!

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I Furnished My Bedroom for $7.50

Mattress not included.

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For the entirety of my adult life, I never stayed in any one spot. I rented basement apartments, condo closets dens, regular apartments, lived at home, etc. By my calculations, I had moved 11 times in the period between 2011 and 2016 mostly due to school and employment circumstances.

The brevity of these living experiences led me to meet many interesting roommates (for another day…), but also adopt the mentality of “own less”. “Own less” meant for every new purchase I made, I’d have to find a way to either throw something away or make it fit in my car upon the inevitable move. This worked very well for a period of time as it optimized my frugal habits but it got exhausting having to live knowing this particular roof over my head was temporary.

Finally when I got a full-time job, I decided it was time to get settled. I signed a one-year lease with a former roommate and we were in business. “No more moving!” I cheered, until I realized a big problem: that I owned zero furniture. Nothing except clothes and a laptop. For the past 5 years of my life, I had been subletting or renting furnished rooms. All of a sudden, I was going to be walking into a completely empty apartment.

Where do I start? What do I do? Where do I go?

I started to think about the things I’d need: a bed for sure. A desk. A dresser. A lamp. Probably a book shelf. Unwisely, the first place I started to google was Ikea and was quickly unimpressed with their pricing.

Then I took a breath and realized a few things:

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