May Savings

I can’t believe it’s already the end of May. I  feel like I blinked and now we’re here. May was a hectic month but full of excellent events. Queer Youth Prom 2k16 was a fabulous night and I am so honoured I got to be a part of giving queer youth in Edmonton such an amazing experience. Want more info about Queer Youth Prom and how you can support it (as a donor or volunteer) next year? Contact the Pride Centre of Edmonton!

The other big event I was privileged to be a part of in May was the 17th Session of the Western Canada Youth Parliament. It’s a weekend that brings youth from the four western provincial youth parliaments together for debates and inter-parliamentary exchanges. This year I got to be the Speaker (the person who runs the debates) and it was amazing!! I do think I look pretty good in the Speaker’s chair at the Legislature if I do say so myself. (The main post photo is the ceiling of the Legislative Chamber)

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Despite all of the fun I was having, I still managed to save a significant chunk of change in May. My goal for this quarter is to save at least 25% of my take home pay each month and in May I surpassed that, saving a whopping 39.6% of my take home pay!! That’s my highest savings rate to date! Here’s how that all broke down:

  • RRSP – 15.0%
  • Paris Trip – 11.3%
  • Wedding – 13.3%
  • Total: 39.6%

Now I can hear some of you asking how I achieved such a significant personal savings rate, especially compared to April’s savings. Well, a big part of that savings (15% of my take home pay, to be exact) had to do with some changes in our household accounting this month. For the first four months of the year, I paid our full rent and Jordan put an equivalent amount into wedding savings. However, now he’s done school and looking for work (Anyone out there want to hire an electrical engineer? He’s great, I promise!). So we decided to stop saving for our wedding so aggressively until he found work and we are each just paying half of the rent for now. That freed up a big chunk of change in my personal budget, which I rolled right over into savings. I have still, as you’ll see above, continued with my personal savings for the wedding above and beyond what we saved in the first 4 months of the year.

The other question I anticipate is how did I save so much money being involved in so many events? Simple. I volunteered for them! Volunteering means I get in free to events, get fed, and get to give something back to organizations I care about. It’s actually something I love to do and I promise I’m going to write more about the volunteering-frugality connection at a later date.

Those are all of my significant May updates, so now I turn the discussion over to you. How was May for you? Any significant things you want to share?

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