February Savings

February was an ok month for me financially. Not the best month I’ve ever had but certainly not the worst either. I did end up going over-budget, but it was only by $22, so I’m not going to sweat it. My savings rates were also lower in February than January but that was intentional. I haven’t seen my grandparents for over a year and the timing was right for me to take vacation days at work, so I chose to spend a chunk of money (15.6% of my take home pay) on a plane ticket and setting aside some funds for spending money while I’m out there.  I’m really looking forward to it!

Even though my savings rate was lower than January, I am still very happy with it overall. Now that my emergency fund is done, I was able to increase my RRSP contribution to 5% of my gross pay. That means that with the 10% of my gross pay automatically saved through the work pension plan (which I love, because that’s rare in the non-profit world), my RRSP contributions for February were 15% of my income. Another 3% of my income and I’m maxing out my RRSPs! This month I was also able to start saving more for our wedding, which was good. So, without further ado, here are my February savings rates from my take home pay:

  • RRSP – 7.5%
  • Wedding – 3.8%
  • Total – 11.3%



How about you readers? What was your February financial picture like?



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