How Much Money We Spent This Year - Annual Budget Wrap Up
HTML-код
- Опубликовано: 30 июл 2024
- Do you know how much money you spent this year? Well, we do - we tracked allllll of our expenses (literally every transaction), all year long, and categorized them according to our budgets. In this video, we'll go through everything we spent, and for fun we're going to see who spent more in each category.
We're covering our fixed expenses, like rent, internet, and hydro, along with groceries, restaurants, personal care, and every other category we have in our budgets.
Leave your predictions for who you think spent more in the comments below, and let us know what your spending looked like in 2023! 👀
⭐️ Check out our budget template - stephandden.com/budget-template
0:00 How we track our spending
1:59 Fixed Expenses
3:44 Variable Expenses
15:59 How our expenses compare
➡️ Simplii Financial - Our No Fee Checking Account (up to $400 bonus) - api.fintelconnect.com/t/l/65a...
➡️ EQ Bank - Our High Interest Savings Account - click.linksynergy.com/fs-bin/...
➡️ Wealthsimple Invest - Our Robo-Advisor Investment Platform ($25 bonus) - wealthsimple.sjv.io/vnkndW
➡️ Wealthsimple Trade - Our Favourite Stock Trading Platform ($25 bonus) - wealthsimple.sjv.io/yRARNB
➡️ American Express Cobalt - Our Travel Rewards Credit Card (up to 22,000 points) - www.americanexpress.com/en-ca...
➡️ Neo Financial - Our Cash Back Credit Card - neo.cc/refer/N8U6K3S9
➡️ Questrade - Low Fee Investment Platform Canada ($50 in commission free trades) - questrade.sjv.io/AWa9jo
➡️ Borrowell - Free Credit Score Check - api.fintelconnect.com/t/l/612...
The links above are affiliate and/or referral links that provide us compensation when you use them to sign up. Thank you for supporting our channel!
Website - stephandden.com
Instagram - @stephandden
TikTok - @stephandden
Camera - Sony A6400 - amzn.to/2vsmDqc
Lens - Sigma 16mm - amzn.to/2vslvCV
Microphones - amzn.to/2tSa3jQ
Tripod - amzn.to/37EAibU
Small Tripod - amzn.to/2S3dWul
External Hard Drive - amzn.to/3mQzMlP
Our Music - www.epidemicsound.com/referra...
The links above are affiliate links - Steph & Den are Amazon Associates and we earn from qualifying purchases.
Disclaimer - This content is for education and entertainment purposes only. Steph & Den do not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
What was your biggest expenses category this year? Let us know! 👀
Outside housing, fuel. Watches, but I get to trade them so it make it cost less & it is so much fun!
Between housing, gas, groceries, car insurance, and pets, I would say traveling I spent a lot of money.
Sadly, personal care will always be more expensive for women so you deserve a break on this one 😁. A haircut at the barber shop is at least 4x less than a salon for a woman, not even considering hygiene products… You guys are the best and you are doing so well, keep it up! 👏👍🏻
Very true! Thanks so much, we appreciate it 😊✨
pink tax is REAL!!
Sure, but she didn't include haircut in the personal care category.
My husband and I together were $6,256 on groceries ($260 per month per person) and $2,134 on eating out ($88 per month per person). This is in Calgary Alberta. We also have a large garden that brings down our food bill significantly.
Also I’d say own your spending! Seems like you two are doing really great, no need for guilt for spending on the things you love if you can afford it and are saving/investing so much.
Thanks so much for sharing + your comment! 😊
How did you do 260 a month per person in groceries? No meat or fish?
@@derrek1788
We shop at Costco always on sale, and bake all our own bread products. But like I said, this biggest difference is our garden. I grow about 100 lbs of tomatoes that I can into sauces, plus many pounds of squash, beets, potatoes, and a lot more. We utilize our freezer a lot for garden produce as well. This means we pretty much only buy pantry staples (flour, fry beans, rice), on sale meat, we eat little dairy, and then a bit of on sale fresh produce to hold us up during the winter. We rarely buy anything that isn’t a whole food.
Y'all Looking Fresh! That minimal hoody look just works so well. Great shades as well, You Both do an Incredible Job! Myself & my neighbors love your Sunday videos!! Keep it up!!!
🙏🏿🙌🏻 thank you so much! We love to hear that!
Steph! I also get monthly ( or so ) massages. A little hack ive learned is buying gift cards for them at Costco or on Black Friday. I bought 1000$ worth of massage gift cards to a local spa, for 700$!
That’s a great tip! Thanks for sharing 😊
Not easy to put yourselves out and share those private information, bravo on that! Super helpful reference to gauge myself, thank you !!
Thank you so much, we appreciate that! 😊
Yall really a power couple love it
I really look forward to these videos! Great job :)
Thanks so much! 😊
I really enjoy your videos!! Being a Torontonian myself I feel like I can relate more to your content vs US/European Content there are so many implied or situational expenses that may not really be seen/applicable to them like the increased Uber Eats costs, Please keep up your videos I wish you a very successful 2024!
Kudos to you two for being so transparent, its really hard to manage self transparency, as a couple it takes a lot of courage.. ITs absolutely a super power.
Thank you 😊 we appreciate that!
Great video showcasing the comparison between what you both spend. I enjoyed watching 😊
Thank you so much! 😊
Great video as always!! So close to 100k!
Thank you so much! Almost there 🙌🏿🙏🏻
Love how open u guys r ❤
Thanks for sharing these tips. Keep it up!
Thanks for watching! 😊
Fantastic break down of your annual spending guys! My lowest spending category is transport, as I bike or use my e-scooter to commute to work. Cafes and eating out is low as I make my own coffee at home with an expresso machine and I go out to cheaper restaurants with friends in Wellington, New Zealand. My biggest spend is related to female grooming and clothing (hair, clothing etc) and my hiking gear and hiking trips that I do here in Aotearoa New Zealand. I also love the hoody look on you guys!
Thank you! + thanks so much for sharing 😊
I feel like Personal care category will always be higher for women in general. We spend more on our personal care with hygiene products, beauty services- eyebrows, waxing, makeup, skin care.
Year to date we spent $4110.28 on eating out and $7604.48 on groceries. We are consciously spending less per year all around, I hope next year will be a cheaper year again. The total spent this year for everything (minus mortgage) is $38,326.68. Last year $44,000 and the year before that $74,000 - we were building at the time.
Love that you’re consciously spending less per year - that’s great! Thanks for sharing 🙌🏿👏🏻
Don't feel bad Steph; I've spent thousands on food this year as well. Sometimes I'm hungry when I'm not home so I end up having to buy something to eat; my philosophy is that the money in my possession is only valuable if it feeds me adequately: I don't starve just to save. 😂😂
Thank you for this video. I enjoyed it very much. It was the two of you being yourselves as opposed to sounding like you're reading from a textbook. Keep this style of video.
Ha, I love ‘I don’t starve just to save’ 👏🏻 good point!
Thanks so much 😊 we’re glad you liked it!
Love this 🙌🏾
Thank you! 😊
scared to tally this for myself but loved hearing from you guys!
It’s scary but can only help you for next year! Thanks for watching 🙌🏿🙏🏻
Curious to see a breakdown of dating expenses I would love to know the spread between a couple that goes on dates and gives gifts compared to a single guy
I think im going to track my spending next year cause this was really cool ❤
We love to hear that! 👏🏿👏🏻
Love u guys channel so much
Thank you! 🙏🏿🙌🏻
Great stuff! Just found you two recently and have learned so much so thank you! If you don't already - do you have a couple Spotify account? Somewhere else to have some savings. 2 separate accounts on a reduced bill!
Thanks so much! 😊
I'm 26F living in the GTA as well. My biggest spending category this year (excluding rent) were my education fees: CPA dues, classes, and exam fees were $4,265, and $4,585 for students loans (paid off the entire Ontario portion of my loans this year, thank god). I already knew I spent a lot but I didn't know it'd be this high lol... My biggest expense this year was a $5k gift to my parents so they can visit family back home. Bracing for January 2024 since my annual student dues are coming up and I'm booked for a $2,000 dental implant surgery (dipping into my emergency fund for some of this)
I genuinely love this channel and you two both! Keep it up :) Steph, I'm wondering if you're going to talk about Mint since I saw you mentioned you use them? Any thoughts on Mint shutting down since I also used Mint and I'm trying to find good alternatives that isn't YNAB. Thanks!
Hey! Thank you so much, and a big congrats for paying off the Ontario portions of your loan this year! 🎉 and thank you for sharing your highest expenses! We hope your surgery goes well (and we're happy to hear that you had an emergency fund that you could use!)
Good question re: Mint! We've been using our budget template, instead over the past few months - I used to love using Mint, and found that this works similarly other than you fill in the expenses yourself manually (but I found that it helped me be more aware of my spending, anyways)
Here's the link if you're interested! stephandden.com/budget-template 😊
My husband and I also track every dollar we spend. Somehow managed to keep our combined eating out budget at only $3203 including all of our eating out on vacations.
That’s great! Love that you track your spending, too 👏🏿👏🏻
Great video guys! Can you do an update on the wealthsimple investing performance? Do you think you'll be switching over to picking individual stocks/ETFs? I'm currently on the fence of committing to either or because I am still a novice with investing but I want to catch up in my contributions.
For sure! We’ll have a video dedicated to this topic coming soon 😊
Not sure if you are incorporated for your business but if you are, you can set up a health spending account to cover your health appointments. It will be tax deductible to your corp and tax free to you.
We are! This is definitely something we’ll look into in the new year - thank you! 😊
Love that u guys r also from Toronto so am I u guys should get electric scooters it will save transit & taxi money in the non winter weathers
Loved this video!
Where is your video regarding your scoliosis? I had a brace for 3 years and ended up needing a spinal fusion in middle school so I’d love to learn about your experience! I just started going to massage therapy this year.
I spent around $40k this year and saved about 30% of my take home pay.
My largest expense not including living expenses was travel/experiences at a bit over $4k but that’s where I prioritize my spending.
Thanks so much!
Thanks for sharing that, I love hearing other people's scoliosis experiences, too! I had a brace for about 5 years (age 9-14), and didn't end up having to have surgery as a child, but I'll likely need it in the future - we'll see! I ended up with a 58 degree upper curve, so I definitely feel it on a daily basis. I made this short form video - ruclips.net/user/shortsRnhra-Xqmuc but I'll definitely have to do a full length one sometime soon 😊
@@stephanddenoh wow! That’s almost exactly what my curve was when I had the fusion. I now work in xray since I was so interested in it growing up. I see a ton of kids with scoli/post-op and work closely with surgeons. If you have any surgery-related questions feel free to reach out!:)
Congrats Steph for winning lol
😂🤣 I’ll take it!
The dental office that opened up downstairs in my building had a promo for a free cleaning and for some reason you guys came up in my mind because I feel like it would be something you would mention on a tiktok to save costs for a self employed person or someone without benefits.
Also, why not have a spotify duo account? It's cheaper than paying separate accounts
We saw that there's a new Toronto dentist office doing free cleanings! We unfortunately had just went the month before, but if it's still around in a few months we'll look into it 😊
Are you wearing the hoodies because you are trying to keep your utility bill down? Or you both just look fabulous in your matching hoodies? 🤣🤣 great videos, and great content. Happy holidays.
Ha! Let's go with both 😂 and thank you so much! 🙏🏿🙌🏻
I'd love to see a breakdown video of a general grocery bill or tricks to get all essentials - $250 each is amazing especially in Toronto 😅
They did say it would be like 300 by the end of the year, is that more common for your area?
$250/month is the goal, but we ended up spending a bit more than that!
But we have brought our grocery bill down from last year - we starting buying meat from Costco whenever we can (it's definitely cheaper buying in bulk there), and we try to only buy what we'll eat (ie. as little waste as possible). 😊
@@oluchinwagboso7996 So for me and wife, it's more like 750 a month total and I have a spreadsheet monitoring prices of essentials across different stores in Toronto (yes I am that nerdy 😄) but I don't see it reducing below that so wanted to learn what is getting covered in "groceries" for others
@@stephandden Yeah we usually get it from Walmart as it is closer for me and buying in bulk currently isn't an option due to limited storage in my condo, but I'd definitely take a look at Costco in the future. But if you guys can, it'd be great to see a Steph and Den go grocery shopping in Toronto video 😄
Great video!! Where are the hoodies from?
Thank you! Dennis’ is from Old Navy, mine’s from Aritzia 😊
Question from someone else that is self-employed 🙋♀do you pay your taxes quarterly or all at once? Trying to learn from other self-employed Canadians how they manage savings and their business taxes 😄
Hi! Good question - up until now we've paid them all at once, at the end of the fiscal year, but we're switching to quarterly from now on (it's required once you've hit a certain revenue threshold). 😊
Would y’all ever dabble in vlogging your days every once in a while so we can get to know y’all more but also see how you stick to your budget in your everyday life. What does your lifestyle look like with budgeting so well
We try and share more behind the scenes / our day-to-day on our Instagram page! 😊
I don’t know which category I spent most on but the card I used the most was my Chase card!!
Thanks for sharing! What types of purchases do you use that card for? 😊
My employer pays $20,000+USD for health insurance alone without us even using it. I also contribute a few thousands each year again simply for contribution. 😩 Auto and homeowners insurance can be high!
Love this. Can you do this video monthly?
Thank you! So glad you liked it 🙌🏿👏🏻
We’ll definitely do more videos like this next year! We were thinking maybe quarterly 🤔
@stephandden yeah quarterly gives a chance to see a pattern 🤔
Hey @stephandden, do you use any apps to track expenses?
We use our budget template! stephandden.com/budget-template 😊
Saving 1,200+ per month in Rent is insane living in DT Toronto haha
changed my pay myself first starting 1/1/24 already with automatic payments. gonna be rough with all this inflation but oh well. overtime is offered and will be worked. ill be dog tired
Amazing! You've got this - 2024 will be a great year. 🙏🏿🙏🏻
Thanks for great content. I only spent less than $500 on takeout/restaurants the whole year. My weakness is clothes lol I’m yet to add it up.
That's great! Ha, everyone has a 'weakness' in their budget somewhere 😅
Would you both consider splitting a Spotify family plan to bring down the cost a bit?
Right now it would cost more for both of us to split a plan since Dennis’ cost is so low! I’m sure one day we’ll do that though 😊
Their low cost on public transport and ubers rly justifies not having a car. Insurance alone can run you 2-3k a yr. I worked at the insurance companies but decided I like the freedom and savings for not having a car as one of my fixed expenses
Great point - the monthly costs associated with having a car can really add up! Parking when you’re in a bigger city is important to factor in too.
great video but why don't you share spotify together? there is no need to spend money on the same platform right?
Dennis has been on a plan with his friend for like 10 years (it's the friend, his family, and Dennis on it), so it's really cheap! 😊
Then I just got Spotify last year because I wanted my own Spotify wrapped, ha! 😂
How do you have a $42/annual phone bill?! Or even $406. What carriers and plans…
We cancelled our phone bills in April!
But Dennis had a good plan with Public Mobile - $42 every three months 😊
I spent $3313.21 on dining out this year!
Thanks for sharing! 😊 + love that you have an exact number 👏🏿👏🏻
$1430 in 2023 for my husband and I in downtown Calgary, Alberta.
Thank you for sharing! 😊
Where can I buy those hoodies
Ha! Dennis’ is from Old Navy and mine’s from Aritzia 😊
@@stephandden thanks !! they look so similar though they were the same brand, which one is more comfortable tho ? haha
I pay around $350 every time my family and I go to grocery store, we go every week 😢, we are 4 in the family I can not imagine how much is yearly
It's definitely harder for a larger family! We found buying meat in bulk at Costco helps a lot 😊
42$ a year phone bill?
250.00 mo. on groceries is great!!! Us tôo🎉❤
That's great! 👏🏿👏🏻
$2316.33 for a couple over last year
Woah how are you paying 600 / month in utilities and live in a condo? I pay 50 max
We’re not - these are annual totals! 😊
Great video. I enjoyed it
Thank you! 😊
I’ve spent like $31,000 this year… UHHHHH😅😅😅
Love that you know the number! 👏🏿👏🏻
2700 just in ubereats 🙃
UberEats is a blessing and a curse 😅 ha!
are they from degrassi?
Us? No, ha - I loved watching Degrassi though!
rent raises should be illegal, but if i was a landlord i probably would think otherwise 🤪, but other than that great content, the quality of those sweaters look great.
Hahah, so true! Thanks so much 😊
How do you expect the landlords pay for their expenses when inflation happens? I think their rent increasing by $50 is not bad. Here in Memphis, Tennessee, 20 years ago the average rent price was $550 for a one bedroom apartment; now it's $800. The price of all good and natural resources affect the cost of housing. Steph and Den could make a video about this.
Steph, I bet I could out spend you. We did in a think big abundance exercise in a coaching program where you start with $1,000 and it dbls everyday as long as you've spent all of it. It doubles until it hits $1,024,000 Caveat, you had to spend only on yourself up to $64,000 then you could gift, invest. I had absolutely no problem getting to zero. LOL
Wow, that's an interesting exercise! Definitely an abundance mindset, ha! 😂
Finally someone who speaks my language; I love ❤️ having an abundance mindset.
I'm sorry but how is $282 a month per person on groceries possible?!?! do you not eat food? lol our budget for food is wild in comparison
Ha! We definitely used to spend more than that, but we cut it down last year! The biggest changes we made were buying meat in bulk at Costco, and eliminating as much food waste as possible by planning our meals / grocery list 😊
@@stephandden Good for you guys! I still don't see how it is possible for my husband and me haha We do the same in regards to eliminating food waste and are great with meal prep and planning but would love to see a vid (maybe you already have one I'll look) on how you grocery shop and make meals!
Another great vid from you guys 🤍
Thank you! 🙌🏿🙏🏻