I was never really been under the illusion that I was particularly wealthy, but after doing a little math I’ve realized I’m not doing as well off as I had thought.

by misterbisson

Since the end of university I’ve been using a spreadsheet to project my finances forward a year or so in order to ensure that I have enough money to meet my monthly expenses. These are extremely detailed, day-by-day, expenses and income.

While this ensures the money is there when withdrawls come out, the downside is that it means that I tend to cut things very tight, often to within a few dollars a month.

by midnightglory

When I was renting a little over a year ago I was able to keep my credit card clear and pay down my student debt at the same time without too much difficulty. But then I bought a condo and my housing expenses tripled.

by woodleywonderworks

But it’s not just housing costs. It’s also a combination of impulsive buying and poor luck. I’ve had to replace a computer and repair $1200 in damage to my car. I’ve also bought an Xbox and a lot of clothes. Both of which may make me happier, but probably aren’t completely necessary.

I’ve gone on a couple small vacations, decorated my condo, and had fun on the weekends. Last week I enrolled in a course at Ryerson to the tune of $500.

by Thomas Hawk

To be fair though, I should get at least a little credit for the things I didn’t purchase. Like using a ethernet cable instead of buying a faster router, living without a 50mm 1.4F lens, and getting a kitten for free.

by static416

So for the last year I’ve been telling myself that I’ve been paying down my Visa as fast as possible. Well today I actually charted it and I wasn’t impressed with what I found.

At the beginning of the year my Visa was briefly paid off, then quickly skyrocketed to about $4300. Since then it’s fluctuated between about $2200 at the lowest and $4800 at the highest. Adding an average trendline for the year shows that I have only decreased my average debt by about $250. That’s not good.

Decreased fixed-expenses and a raise mean I end up with an extra $350 a month compared to 8 months ago. So it’s not my expenses-to-income ratio that’s the problem either. Oscar Wilde said something to the effect of “Anyone who lives within their means suffers from a lack of imagination.” It looks like the problem I’ve got is a little too much imagination.

by oppositeofsuper

The good news is that despite my Visa sitting at a rather lofty $4000 right now, I’ll probably have it paid off by the end of the month. My boss is paying out my banked hours on or around November 30, so I should be greeting Christmas with a clear credit card.

by romanlily

The next trick will be to keep it that way.