Definitely I did a lot of travelling this year, more than usual. Went to Mexico for the first time for a wedding, Florida, and Vancouver (I live in Toronto.)
Loved this video. It’s great seeing you guys’ channel growing. I used to see your videos on Instagram and just saw this recommended on RUclips. I also track everything but not as meticulously as you guys haha! This is definitely inspiring for me to get even more detailed with tracking my income and expenses - especially given I’m also self employed like you guys - and sticking to my budget more. I also find it interesting that you guys spend less on a number of categories compared to 2023 - it was the same exact thing for me. I’m wondering if this was the case for others out there too. I think it goes to show that the economy has been really putting pressure on everyone like we hear about 😬
Glad to see this as a fellow Canadian living in an expensive city (Vancouver - but its only gotten nuts in around the last 10 years). Funny that people think your food is hi/ low. I break down everything as well to the cent and would likely spend less if i split groceries and i'm at 4500 (375/ m) so far and def overspent IMO since i had too much waste. Moving car rentals to travel/ commute will probably make it clearer and if you're treating others to meals, i put that under "gifts". For health, i even put vitamins, advil etc under that and would put things like yoga wedges and snd foam rollers there too. Super interesting to see how others break things down, it makes everything more clear and easy to course correct. I really need to get on the investing part since i'm so used to being poor, having a steady income makes it super easy to save. Thanks for sharing!
Thank you so much for your comment - it really is interesting to see how other people budget and break things down! We have a lot of videos about investing if you're planning on making it a focus - hopefully they can be helpful as you get started 😊
I told myself i wouldnt buy any clothes this year..!! I broke my rule twice (workout leggings and pajamas) so my personal clothing expenses, i will round up to $40. I bought clothes for my friend’s sons’ bdays and that was $200.
For me in Toronto, the biggest hit is Rent - at $2600 a month for a 1+1 (700 sq ft. - inclusive all utilities) which is still insane. Might increase to $2665 but right now all comparable units in the city are the same price. So just gotta make cuts in other areas.
Rent is definitely a big expense when you’re in downtown Toronto! You’re right, it’s often hard to move in the city without paying even more per month.
@@utube4661 Yeah - then my commute increases as I need to be in office 3-4 days a week + the transport costs or to invest in a car which has its own costs. Not to mention, a basement apartment isn't the ideal one to be in with a child 🙂. The point was more about the fact that $2600 for a 1+1 is just insanity - it's not as if you're getting some decent house for that money but almost all of the alternatives are the same.
Rent is definitely out of hand. As a realtor, I can definitely see how these prices have affected people and their finances. I’m glad to see rent prices have softened compared to last year though. I assume you might have gotten your place this year or end of 2023. Mid 2023, that same 1+1 could have easily costed $2800! I think with the continued interest rate cuts, less population growth and immigration over the next few years, and more inventory hitting the market over the next couple of years as more pre-con projects finish, we’ll see a bit more relief on rent prices. Plus it’ll probably be a good time to buy too at that point. I do see rent prices increasing between 2028-2030 again as new/pre-construction sales and building decreased significantly this year (so we’ll see the effects by that time).
Ha! 😂 I like that he knows his spending habits at least - we had a lot of comments last year from people who said $4,700 sounded like a crazy amount, but then when they went to calculate their own total, it was similar!
Love your videos! around me my friends thinks I am crazy to do my budgets and work on spreadsheets (I do have forecast budget for next 25 years haha) but watching your videos I feel less alone haha
I have to know: what kind of fabric do you look for in your clothes? And why is it important to you? Is it more durable, easier to wash, more sustainable? Feels better? I want to be better at clothes shopping!!
Good question! Ideally 100% cotton for shirts, sweaters, etc. - from what we know (so far), it's ideal for the clothes longevity, it's more breathable, and usually more comfortable, too! 😊
Thanks for another great video! On that note, I am genuinely interested to see the breakdown of your costs for food for a month. Like the amount that you’ve named in this video seems too low. I am trying to understand what I am eating that is so expensive and special, because in our family of 2 people, we spend over 1k CAD per month without splurging on food, not even eating fish or red meat that much.
You are doing it. I'm jealous. I got a networth of 200k. You got a real job. If i had a job thst offered a 401k. And HSA. I would be doing the same thing. I got a bull shit job that only pays 40k a year. Im in my mid 40's and i started investing for retirment this year. Im putting $535 a month in my Roth IRA and im investing $300 a week in my fidelity 500 index fund, and im putting $1100 every month in my high yield savings account account. I currently have about 190k in their at the moment that im saving to buy a house. I got 25k in my checking account which i plan on investing after i pay my taxes this year because i know im owe. But after i pay my taxes im probably have like 20k left in my savings account. Im keep 5k in my savingd and im invest the other 15k in the in my brokeage fund.
It seems to be working in our end. You can also go to our website and at the top of the main page you’ll see an announcement bar that says ‘Get Your FREE Template!’ - stephandden.com 😊
Thankyou for your videos I use your template budget tracker glad you are splitting out car things, i decided to log these expenses under the gifts/donations tab, though it would be nice if i could edit the name of the categories (is this possible??) I purchased a car this year, and also bought all tools and car parts to work on it myself. the costs were crazy (but still cheaper than paying a mechanic to do it here in Vancouver, where labour costs can be up to $200 an hour. I now have a big decision, do i sell and go back to public transport and car rental schemes, or continue next year now the biggest car ownership expenses have been paid for, this annual budget tracker will really help with this decision
Yes, you can edit the category names! Just type over the categories that you want to change in the 'Budget Overview' tab 😊 That's an exciting purchase / project for the year! We're happy to hear that the budget tracker will be helpful, too 🙌🏿🙌🏻
I love your videos and concept and i love that you're in toronto. I wonder if your prices are in cad or usd... Because this all feels kind of low based on what i'm paying in toronto. Also some visual feedback: there's a bit too much zooming in and out .. i dont think you need it this much. It got distracting.
$600.00 / month for two people for groceries, wow!! Not judging, just surprised. you guys don't look as tho you overeat so I'm thinking you eat some fine food and if so, good for you :)
sorry you think that's a lot? I thought that was unbelievably low. I struggle to keep mine below $1000 a month (it does include misc items like toiletries)
What was your biggest expense category this year?! Let us know! 👀
Definitely I did a lot of travelling this year, more than usual. Went to Mexico for the first time for a wedding, Florida, and Vancouver (I live in Toronto.)
Costco 😂
Loved this video. It’s great seeing you guys’ channel growing. I used to see your videos on Instagram and just saw this recommended on RUclips. I also track everything but not as meticulously as you guys haha! This is definitely inspiring for me to get even more detailed with tracking my income and expenses - especially given I’m also self employed like you guys - and sticking to my budget more.
I also find it interesting that you guys spend less on a number of categories compared to 2023 - it was the same exact thing for me. I’m wondering if this was the case for others out there too. I think it goes to show that the economy has been really putting pressure on everyone like we hear about 😬
I love that you show net not gross!
We're happy to hear that you like that! 🥳
Glad to see this as a fellow Canadian living in an expensive city (Vancouver - but its only gotten nuts in around the last 10 years). Funny that people think your food is hi/ low. I break down everything as well to the cent and would likely spend less if i split groceries and i'm at 4500 (375/ m) so far and def overspent IMO since i had too much waste. Moving car rentals to travel/ commute will probably make it clearer and if you're treating others to meals, i put that under "gifts". For health, i even put vitamins, advil etc under that and would put things like yoga wedges and snd foam rollers there too. Super interesting to see how others break things down, it makes everything more clear and easy to course correct. I really need to get on the investing part since i'm so used to being poor, having a steady income makes it super easy to save. Thanks for sharing!
Thank you so much for your comment - it really is interesting to see how other people budget and break things down!
We have a lot of videos about investing if you're planning on making it a focus - hopefully they can be helpful as you get started 😊
I told myself i wouldnt buy any clothes this year..!! I broke my rule twice (workout leggings and pajamas) so my personal clothing expenses, i will round up to $40. I bought clothes for my friend’s sons’ bdays and that was $200.
Fantastic work you two. Keep shining.
Thank you so much! 🙏🏿🙏🏻
For me in Toronto, the biggest hit is Rent - at $2600 a month for a 1+1 (700 sq ft. - inclusive all utilities) which is still insane. Might increase to $2665 but right now all comparable units in the city are the same price. So just gotta make cuts in other areas.
Move to a basement apt in suburbs for half that
Rent is definitely a big expense when you’re in downtown Toronto! You’re right, it’s often hard to move in the city without paying even more per month.
@@utube4661 Yeah - then my commute increases as I need to be in office 3-4 days a week + the transport costs or to invest in a car which has its own costs. Not to mention, a basement apartment isn't the ideal one to be in with a child 🙂. The point was more about the fact that $2600 for a 1+1 is just insanity - it's not as if you're getting some decent house for that money but almost all of the alternatives are the same.
Rent is definitely out of hand. As a realtor, I can definitely see how these prices have affected people and their finances. I’m glad to see rent prices have softened compared to last year though.
I assume you might have gotten your place this year or end of 2023. Mid 2023, that same 1+1 could have easily costed $2800!
I think with the continued interest rate cuts, less population growth and immigration over the next few years, and more inventory hitting the market over the next couple of years as more pre-con projects finish, we’ll see a bit more relief on rent prices. Plus it’ll probably be a good time to buy too at that point. I do see rent prices increasing between 2028-2030 again as new/pre-construction sales and building decreased significantly this year (so we’ll see the effects by that time).
My husband heard that you spent 2200 on restaurants this year and he said “what? thats like 1 month for me” 😅
Ha! 😂 I like that he knows his spending habits at least - we had a lot of comments last year from people who said $4,700 sounded like a crazy amount, but then when they went to calculate their own total, it was similar!
My biggest spending this year probably on electronics and a bit of travel but I definitely wouldn’t trade that for anything it was a great expense
That’s great! Where did you travel this year? 😊
Love your videos! around me my friends thinks I am crazy to do my budgets and work on spreadsheets (I do have forecast budget for next 25 years haha) but watching your videos I feel less alone haha
Thank you so much! Hahah - we love be able to actually track everything ourselves, and be really aware of what’s going on with our money!
I love my spreadsheets too, I always have a forecast for the next 3 months. 25 years is next level though haha!
@ 😅 I do plan to retire at 55, just making sure I am on the right path 😂
I have to know: what kind of fabric do you look for in your clothes? And why is it important to you? Is it more durable, easier to wash, more sustainable? Feels better? I want to be better at clothes shopping!!
Good question! Ideally 100% cotton for shirts, sweaters, etc. - from what we know (so far), it's ideal for the clothes longevity, it's more breathable, and usually more comfortable, too! 😊
@@stephandden good to know!! Thanks for explaining
Btw I love that you guys see and reply to all comments!
Thanks for another great video! On that note, I am genuinely interested to see the breakdown of your costs for food for a month. Like the amount that you’ve named in this video seems too low. I am trying to understand what I am eating that is so expensive and special, because in our family of 2 people, we spend over 1k CAD per month without splurging on food, not even eating fish or red meat that much.
Thanks for watching! We posted a shorts video a few days ago where we talk more about what our typical grocery shopping trip, etc looks like 😊
You are doing it. I'm jealous. I got a networth of 200k. You got a real job. If i had a job thst offered a 401k. And HSA. I would be doing the same thing. I got a bull shit job that only pays 40k a year. Im in my mid 40's and i started investing for retirment this year. Im putting $535 a month in my Roth IRA and im investing $300 a week in my fidelity 500 index fund, and im putting $1100 every month in my high yield savings account account. I currently have about 190k in their at the moment that im saving to buy a house. I got 25k in my checking account which i plan on investing after i pay my taxes this year because i know im owe. But after i pay my taxes im probably have like 20k left in my savings account. Im keep 5k in my savingd and im invest the other 15k in the in my brokeage fund.
my biggest spend category is personal care at $885
Thanks for sharing! Is personal care usually your highest spend category, or was it different than last year (if you know)? 😊
I had hobbies take the lead for 2023:) once I graduate university next year, I’m curious what will become my biggest category!
the webaite to download the template is broken. Not working
It seems to be working in our end. You can also go to our website and at the top of the main page you’ll see an announcement bar that says ‘Get Your FREE Template!’ - stephandden.com 😊
Thankyou for your videos
I use your template budget tracker
glad you are splitting out car things, i decided to log these expenses under the gifts/donations tab, though it would be nice if i could edit the name of the categories (is this possible??)
I purchased a car this year, and also bought all tools and car parts to work on it myself. the costs were crazy (but still cheaper than paying a mechanic to do it here in Vancouver, where labour costs can be up to $200 an hour. I now have a big decision, do i sell and go back to public transport and car rental schemes, or continue next year now the biggest car ownership expenses have been paid for, this annual budget tracker will really help with this decision
Yes, you can edit the category names! Just type over the categories that you want to change in the 'Budget Overview' tab 😊
That's an exciting purchase / project for the year! We're happy to hear that the budget tracker will be helpful, too 🙌🏿🙌🏻
Biggest spend is vehicles ( insurance, gas & repairs)
Thanks for sharing! 😊
I love your videos and concept and i love that you're in toronto. I wonder if your prices are in cad or usd... Because this all feels kind of low based on what i'm paying in toronto.
Also some visual feedback: there's a bit too much zooming in and out .. i dont think you need it this much. It got distracting.
Thank you so much! The amounts we share are all in CAD 😊
$600.00 / month for two people for groceries, wow!! Not judging, just surprised.
you guys don't look as tho you overeat so I'm thinking you eat some fine food and if so, good for you :)
sorry you think that's a lot? I thought that was unbelievably low. I struggle to keep mine below $1000 a month (it does include misc items like toiletries)
Most comments we get are actually people wondering how we spend so little on groceries!
How much do you spend per month? 😊
Thanks for videos! Hope next year December to have my yearly expenses as well!
Restaurants 😢
It’s such a tough category! 😅
Who Cares ?
Probably everyone who clicked on the video and watched it 😊
lol literally 5k people and counting. And looks like yourself? 😂