Analyzing Our October 2024 Budget: Successes and Lessons, Life in canada

Estimated reading time: 18 minutes

Explore our October 2024 budget update and see how we manage our expenses. Get insights, tips, and our free budget binder to help you stay on track.

Before we begin, the 2025 51-page Budget Binder is ready for download!

Why I Share Our Monthly Budget

For anyone new to CBB, this briefly explains our monthly budget update.

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

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

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.

Alright, let’s get into this.

Percentages For Our October 2024 Budget

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

October 2024 Household Budget Percentages

Savings of 40.36% include investments and savings based on our net income.

Our life ratio is 32.67% and contains everything from groceries, entertainment, miscellaneous items, health/beauty, clothing, etc., all variable expenses.

Transportation is 2.78%, which covers gas, insurance, and maintenance for our vehicle, which is paid.

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

The projected expenses of 11.26% can change based on what we encounter monthly, such as a new item we need to save for.

Jr. CBB’s 52-Week Savings Challenge

Our son created a Moolah Jar label for his money savings jar, which I thought was funny.

52-Week Savings Challenger Update

As of October 2024, the yearly total is $215 in savings, which means he’s more than 50% to meet his goal of $300.

Update 52-Week Saving Challenge Participant.

Below is the report from a CBB fan participating in the year-long savings challenge.

Hi there, TFSA Saver here, 

I had a quiet month but still managed to save.

• Saved $40 using PC points redemption at Shoppers
• Sally Beauty had a $5 coupon for products that I needed.
• After hours, I found a $10 bill on my walk through a mall parking lot. 
• On another walk, I found five cents.
• Lastly, I sold $10.00 worth of clothing on a buy/ sell FB group.

Total: $65.05, which exceeds my monthly goal of $62. 

Every month (except for 2) so far, I have exceeded my goal. 

I also LOVE your idea of keeping a record of partially used gift cards, as you mentioned at the end of last month (and adding this page to your Budget Binder). Great idea. 

Keep up the great work, motivating us readers. 

Thanks! 

October 2024 Budget Estimation and Actual Budget

Below are two tables: the October 2024 Budget and our Actual Budget.

Our October 2024 budget represents two adults and a 10-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 2024 Budget

For October, the estimated budget was $8,179.33; of that, we used $7,984.03

We may not need all the money we budgeted for in each category; however, remember the number is only an estimate from the previous year.

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

Actual October 2024 Budget

Current Canadian Banks We Use

October Budget 2024 Month To Month Update

Between September and October 2024, we experienced a net income increase of 10.68%.

What was nice to see was our emergency savings account increased by 54.75% even though our actual expenses also rose.

Always expect to see changes from month to month, as that’s perfectly normal.

Breakdown Of Our October 2024 Budget Categories

Below are some of our variable expenses from October that I will discuss.

Clothing For Family

Over the last two months, Mrs. CBB has been struggling with ankle pain and has purchased a pair of Clifton 9 HOKA running shoes.

Two years ago, she had a bad fall and struggled with ankle pain off and on, and it was rough for her this time around.

Mrs. CBB also suffers from wide, flat feet and plantar fasciitis; she swears the Hoka shoes have made a massive difference.

The Clifton 9 shoes have a wide toe box, so they are roomy and offer premium comfort for anyone who spends long hours on their feet.

She used a $15 credit we had, plus the shoes were on sale, along with Rakuten cash back to discount the price.

Another purchase was 8 pairs of compressed socks to help stabilize the ankle.

We can get a prescription for 2 pairs of compression socks from the doctor, and my benefits will cover them.

On the next visit, she will ask, as she forgot at the last appointment, to mention it.

I’ve also been having knee pain, so I purchased a pair of braces from Amazon.

They seem to be helping, but I will talk to our doctor during my next appointment in February.

I’m getting old and feeling it, although my mum had problems with both of her knees.

Birthday Expenses

It was Mrs. CBB’s birthday in October, and she wanted an ice machine, so that’s what she got.

I found an Ecozy ice machine on Amazon that was on sale for $110, and it sits on our counter next to the dehydrator.

It works great, although I’ll have to design serious storage with all the kitchen gadgets when we remodel the kitchen.

Our son went to a birthday party in October, and we bought a card at the Dollar store and put $40 inside for him to put towards scooter accessories.

Normally, we put in $25 cash, but this is his good friend, so we gave him a bit more to help him towards his goal.

Gas (Petrol)

As winter arrives, you’ll see our gas budget increase as I fill two large gas cans.

Normally, I would pop into Costco to get gas early before work, but I would avoid it in the winter when possible.

Health and Beauty

Going to Costco always increases our health and beauty category as we stock up on toilet paper, paper towels, baby wipes, fabric softener, and vitamins.

If you read my monthly newsletter, you’ll know that Mrs. CBB is anemic, and her doctor had her try different iron pills.

Well, they are NOT cheap. One bottle was $78, and the other was $58 at Shoppers Drugmart.

Unfortunately, nothing is working, so she is scheduled for iron infusions next month, which we will find out soon what portion we pay for.

Grocery Budget October 2024 Budget

Our monthly grocery budget is $900 plus a $25 stockpile budget; we spent $1242.65 in October.

You can find all the online groceries we purchase in the CBB Amazon Storefront.

Kids

Below are some expenses that we paid for our son in October.

Our Flashfood Orders October 2024

So far in 2024, the Flashfood App has saved our family nearly $1000!

Below is the one Flashfood order we picked up in October. I’m unsure why, but the screen was shifted, and I couldn’t move it, so it’s cut off.

The products are all deli meats, which we freeze and defrost as needed.

We will continue to use Flashfood as we save so much money, so please consider signing up using my affiliate code below.

As I do, you get $5 free when you place your first order. It’s a win-win for both of us.

Every person who signs up gets a $5 credit, a freebie Flashfood offers for new app customers.

Also, Flashfood has added a small service fee to every order, which I feel is acceptable.

Use my referral code, MOCD28ZN4, for a $5 credit.  

Your first purchase must be over $15.

So far, in 2024, we’ve saved $925.15, which is incredible.

Home Maintenance

Most of what was purchased for the home were tools, water softener salt, 3-pack furnace filters, truck ramps, and weather stripping for the garage door.

Pets

Amazon had some great deals on cat food in October, so we took advantage of them.

We buy 24 packs of Fancy Feast and snacks from Amazon when they are on sale.

When there is a sale and promo, such as spending $35 to save 15%, I’ll take advantage of that savings. ‘

We buy high-end dry or wet cat food from Open Farm or Chewy Canada online and get cashback with Rakuten.

Last week, for example, I ordered at Chewy Canada online for $108 and received 6% cash back from Rakuten.

I will be writing a Chewy Canada review soon for the blog, so if you have any questions you’d like me to answer, please let me know.

Also, if you have experience with Chewy Canada, message me and share it so I can add it to the blog post.

Chewy Canada 20 Percent Off Your First Three Orders Discount code 2024.

Extended Healthcare Expenses

There are a few items that will fall under our current extended healthcare.

My benefits cover up to $4000 for therapies yearly and braces for $2500 lifetime.

Mrs. CBB started her Invisalign in October, and we pay $250 monthly and receive $125 back from benefits until we reach $2500.

After that point, we pay the full $250 until the $6000 bill is paid.

Once benefits run out, we pay $135 for therapy each session.

• Speech Therapy
• Occupational Therapy
• Invisalign Braces
• Any medical expenses

Canadian Tire Rewards Points

When my CT money balance increases, you know I’ve been spending money and taking advantage of flyer sales on 20x the points days.

Always activate your Triangle Rewards to get the best bang for your buck at the many stores Triangle Rewards offers.

I have yet to write a Canadian Tire Mastercard blog review, but it’s in the making as my second favorite credit card.

Look for a CT credit card review in 2025.

Canadians Who Shop Online Use Rakuten

Do it if you order anything online and haven’t subscribed to Rakuten Canada.

Not only do you get $30 cash free from Rakuten when you use the CBB link, but you also get cash back from thousands of online stores.

You have 90 days from signing up to use Rakuten for an online purchase before receiving the $30.

Read my full review of Rakuten Canada if you are still unconvinced.

We regularly receive cheques in the mail from Rakuten, which earns us money.

PC Optimum Rewards Points October 2024

Since 2018, we have earned over 8,941,277 PC Optimum Points or $8,941..

In the photo below, you can see the last 45 days of earnings in October 2024.

We started 2024 with under 7 million PC Optimum Points, currently have $7620, and are working towards $8000.

Last week, it was announced that Shoppers Drug Mart would no longer carry electronics.

A big reason why we would collect the points was to buy gifts for our Christmas and birthdays for our son.

We must consider what’s left at Shoppers Drugmart and the grocery store worth spending the points on.

Look for an updated post about our points in 2025 as I learn more about any new details on the program.

How We Saved So Many PC Optimum Points

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

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

Below are blog posts for anyone wanting to learn how we earn PC Optimum Points.

Moi Rewards

Over the past month, we joined Moi Rewards at our local Food Basics and earned $35.

The photo above was taken during the first two weeks of rewards, and we were at $15.

For every 500 points earned, buying products with Moi points equals $4.

I’m in the process of writing a full review of the Moi app through Food Basics, as we wanted to try it first.

I’ll be sharing our ongoing rewards progress here each month.

TD Rewards Credit Card October 2024

Our TD Visa has a cash-back balance of $0 as of the end of October 2024.

I finally redeemed our $500 cash-back reward and sent it to our bank account.

Now, we are starting over again and are $500 richer than before we started using the credit card.

We have paid $0 interest.

Dream Air Miles Update

Most points are from our house and car insurance, which offers 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.

Also, when the October update arrived in our email, it stated that 95 cash Air Miles were available to redeem.

I don’t know how that happened, as I thought we could only collect one or the other.

I’ll have to look into that to find out what’s happening, but I’m also not complaining.

October 2024 CBB Net Worth Update

Overall CBB October 2024 Budget + Net Worth Update

I’ve had a few people email me about our mortgage and why we don’t have one in the chart.

After purchasing our home in 2009, we paid it in full by 2014, which was not easy, but we did it.

Our current market home value is approximately $924,000, and we bought the home for $265,000 in 2009.

In October 2024, our net worth increased by $22,450.31, or 1.27%.

Our son now has a Registered Disability Savings Plan, in which we placed $5000 to get the government to pay back to the date of his autism diagnosis.

I’ll write a blog post about the process we went through for Mrs. CBB and our son if anyone wants to learn more about our experience.

Comment below and ask me any questions you’d like me to address in the post.

That’s all for now,

Have a great budget month, and I’ll catch you back here for the November budget update in December.

Get ready for the new year with the free 2025 Free Printable Budget Binder!

Mr. CBB

You can find all the CBB monthly budget updates from 2012-present in our library.

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