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Here's how Caitlin and Ryan can start seeing eye-to-eye with their finances
READ: How this retiree spends $1,100 a weekThere’s “always something,” says Caitlin, and this week, as usual, brought the inevitable extra expense: their son’s fourth birthday party. “We had company, plus food and cake, then admission to the swimming pool. We packed almost thirty lunches.” A smaller, at-home option would have been less hassle and more affordable … but they did that last year. So how should an eager spender with a tendency to go overboard and a saver who only reluctantly replaced his decades-old T-shirts find common financial ground? We asked a professional. April 27: Caitlin’s gym fee, biweekly, $30 Ryan’s gym fee, biweekly (with fee for childcare), $56 Grocery store, breakfast out, $10 Mexican food, dinner date, $59 Gas, $90 Ryan’s investments, RRSP & TFSA contributions, biweekly, $400 April 28: Costco, birthday party supplies, $224 Lowe’s, ceiling fan/birthday gift, $223 Garden Centre, landscaping supplies, $283 April 29: Pool admission fees, $84 Cake, $62 Pizza, $122 April 30: Car payment, biweekly, $391 Monthly bus pass, $117 RESP contributions, monthly, $200 Car insurance, $142 Caitlin’s bank fee, $4 Ryan’s bank fee, $11 Ryan’s coffee, $2 May 1: Daycare, monthly for two children, $2,070 Ryan’s coffee, $2 Alarm system, $23 May 2: Caitlin’s investments, RRSP, biweekly, $100 Charity walk, sponsoring a friend, $20 Ryan’s coffee, $3 Ryan’s haircut, $45 May 3: Caitlin’s boss’s present, contribution, $20 Card for boss, $8 Caitlin’s Google storage, $3 Gas, $53 Banana Republic, T-shirts for Ryan, $85 Designer Shoe Warehouse, new shoes for Caitlin, $193 Weekly Spending Total: $5,135
This post is part of Spend It Better, a personal finance collaboration between Chatelaine and MoneySense about how to get the most for your money. You can find out more right here.
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