CBB June 2024 Budget Update

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📅 15. November 2024 ✍️ By Benjamin Calhoun ⏱️ 8 Mins Read 🗂️ Der Blog 🕒 Last updated: 22. November 2024

Estimated reading time: 12 minutes

Learn about our June 2024 budget update and gain valuable insights into managing your finances. Discover the tools and strategies we use to stay on track.

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 June 2024 Budget

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

June 2024 Household Budget Percentages

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Our life ratio is 32.21% and contains everything from groceries, entertainment, miscellaneous items, health/beauty, clothing, etc., all variable expenses.

In June, we went over the life category due to spending more than usual on health, beauty, and tools for the garage. I’ll explain more in detail below.

Transportation is 1.77%, 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. In June, this cost was 15.98%.

The projected expenses of 12.29% can change based on what we encounter monthly, such as a new item we need to save for.

52-Week Savings Challenge

Moola Jar - 52-weeks Money Savings Jar Jr CBB — Moola Jar – 52-week Money Savings Jar Jr CBB

In December, I started a 52-week Savings Challenge and asked my readers if they wanted to participate.

Below is the jar we created to save the money for twelve months.

Our son wanted to participate, so he decided to save his allowance or any other money he earned.

He’s saving $5 weekly from his allowance in the savings jar.

In June, he saved $20 for the month plus an extra $10, which his aunt had given him.

June 2024 52 Week Savings Challenge Update

The yearly total to date, June 2024, is $100 in savings.

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

52-Week Savings Challenger Update

BelowCBB

Hello,

It’s me, TFSASaver, with my monthly update on the budget challenge

I sold $75 of things I no longer need on Facebook Marketplace, used $10 of gift cards, and found .35 cents out for my walks.

So, the total for June is $85.35 in my TFSA savings.

Thanks!

Happy Canada Day

Grocery Food Savings Jar June 2024 Update

Why will we track our grocery discounts for the entire year?

Tracking Our Grocery Discounts For One Year + Free Printable

I will tally it at the end of the year to see how much we saved buying reduced food products.

Read the 2023 End of Year Grocery Food Savings Jar Review.

We saved $217.48 for June using coupons, rewards apps, and Flashfood.

So far, in 2024, purchasing discounted food has saved us $891.31.

June 2024 Budget Estimation and Actual Budget

Below are two tables: Our June 2024 Budget and our Actual Budget.

Our June 2024 budget represents two adults and a 9-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 June 2024 Budget

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 June 2024 Budget

Our Canadian Banks

Chequing– This is the bank account from which we pay our household bills. We use Simplii Financial, TD Canada Trust, and Tangerine Bank. Join Simplii Financial today! Read more about the best Canadian online virtual banks.
Emergency Savings Account– This money is in a high-interest savings account (HISA)
High-Interest Savings Account (HISA)– This savings account holds our projected expenses.

Breakdown Of Our June 2024 Budget

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

Clothing

We spent $288.94 on clothing, which is still under budget for the month of June.

In some months, our clothing expenses are higher, and at other times, we hardly spend anything.

Mrs. CBB purchased clothing from Terra Greenhouse in June when we visited to buy plants.

It was an impulse shop from the reduced rack of high-end clothing, which was 50% off.

She wasn’t going to buy it, but she hadn’t splurged on herself in a while, so I said, get it.

She also purchased some jeans from Goodwill as she’s been losing weight.

Grocery Budget June 2024 Budget

Our monthly grocery budget

We spent $726.80, or $173.20, under budget for our June groceries.

In the last few months, we have found that we buy the same foods week after week.

Also, we noticed that we aren’t eating as much as we used to.

Lots of our grocery expenses have been from the Flashfood app or 50% off at Zehrs or Shoppers Drug Mart.

I think I mentioned that we buy bagged salads only at 50% off as it’s better for us.

It was becoming too hard to finish a head of lettuce and other veggies to make a salad.

To eliminate waste, we opt for reduced and frozen vegetables.

Plus, we have tomatoes, zucchini, garlic, spring onions, and green peppers growing in the garden.

We also still have plenty of meat and fish in our freezer to eat before we buy more.

Health And Beauty

June was a big month for health and beauty expenses because we went to get laser hair removal touch-ups.

While there, Mrs. CBB purchased a face exfoliation scrub for $115.

It was also the month when everything in the bathroom needed replenishment.

Everything from vitamins to shampoo, conditioner, face serums, toilet paper, paper towels, hand soap, moisturizer, and deodorant was replaced.

We paired it with Shoppers Optimum 20x points days and received money back as reward points.

At Costco, she also picked up a big container of Organika Collagen for around $40.

Lastly, we all purchased a Food Intolerance Test to determine if we had food sensitivities.

I’ll explain more in a blog post, but the results were exciting.

Home Maintenance

I’ve been spending a bit of money buying tools for my garage to repair small engines, such as lawnmowers, snow blowers, and weed wackers.

I hope to do this as a hobby/business when I retire, so I’m learning along the way.

I’ve met two retired men in our neighborhood who do this and enjoy the extra spending money.

You could call this my retirement business plan B and blogging on CBB.

What do you plan to do when you retire? Do you have a plan B?

FlashFood App

Please use my code when you sign up for Flashfood! Money for you and money for me.

Spend-15-get-a-3-dollar-credit-with-Flashfood-Canada — Spend-15-get-a-3-or-5-dollar-credit-with-Flashfood-Canada

Every person who signs up gets a $3 or $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 the $3 or $5 credit.

Your first purchase must be over $15.

In June, we picked up lots of high-protein yogurt with no added extra sugar for $1.50 for each package of four.

Along with the yogurt, we found this unique Bergeron Classique Cheese from No Frills, which was so cheap, $0.25, that we couldn’t pass it up. It was well worth it.