Wednesday, August 03, 2011

10th month's expenses

My total expense for the 10th month (1st to 31th July) is around CAD1,824, broken down as follow.

Amount (CAD) : Category

Once-off expenses

*  40 : Nursing re-entry course application fee2
*  28 : Human torso kit3
* 168 : First Aid and CPR training & certification2
*  65 : Food safety training & certification2
*  10 : Emergency Response Bag supplies

Yearly expenses

* 238 : 180 pairs of daily disposable contact lens (for 1/2yr)1

Monthly expenses

* 500 : Room rental
*  40 : Mobile phone bill
*  61 : Medical Services Plan
* 110 : Transport - Monthly 2-Zone Farecard
* 110 : Transport - Monthly 2-Zone Farecard for next month4
* NIL : Transport - Others
* 229 : Food/groceries5
*    7 : Clothings
*  65 : Household Items (including toiletries)6
*  77 : Recreation/Entertainment/Restaurant7
*  19 : Meals/Drinks
* NIL : Personal Grooming & Make-up
*    1 : Stationery/Postage
*  56 : Others (Lottery, Souvenirs, etc)8

Note 1: There is a $20 (almost 10%) increase in cost compared to the last purchase of the same item in February-2011. That illustrates why it is important in retirement planning to create source of passive income that will be inflation-hedged.

Note 2: I will get partial refund for these under the Skills Connect program.

Note 3: I bought this to help in my future learning as I am a Visual-Kinestatic person when it comes to learning.

Note 4: In the same way that Medical Services Plan is pre-paid (i.e. pay in July for August's coverage), I decided to buy my Transport - Monthly 2-Zone Farecard using credit card in advance. This allows me to gather credit card reward points for this significant monthly expense.

Note 5: I stocked up on some long shelf-life food supplies as they were on promotion. I reckoned that jacked up my Groceries expenses by about $30.

Note 6: My universal travel adapter plug broke, so I had to buy a replacement for $22.39. I finally bought a plastic laundry basket that was on sale for $11.19. I had been using several large reusable bags previously. In addition, I stocked up on sanitary napkins and tampons as they were on sale, roughly 3+ months supply.

Note 7: The bulk of this cost is from a colleague's farewell dinner. I decided to give myself a treat and spent $30.82. In addition, I watched 3 movies (including the 3-D Harry Potter finale) and 2 other restaurant dinners.

Note 8: Majority spent on lottery and and scratch-n-win cards. However, this item also includes 2 farewell cards for departing colleagues, several small change donations, a Christmas gift bought in advance because it was on sale ($5 after a $10 gift card was used), and the MoneySense "Guide to Retiring Wealthy" magazine (the actual cost is $11.15 but it cost me less after using my credit card reward points). I felt that the MoneySense "Guide to Retiring Wealthy" magazine is totally worth it because it gave me a sense of where I stand if I decide to retire in Canada -- which is a decent middle-class lifestyle if my plans work out.

2 comments:

  1. Do you have to be Canadian permanent resident to take the reentry course or short courses?? What would be the total expense of the reentry course?? Since, SEC takes 3-5 weeks to provide result to the board of nursing, how would an applicant spend that time duration in Canada or does the applicant return home following SEC?

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    Replies
    1. Hi Bijaya,

      > Do you have to be Canadian permanent resident to take the reentry course...?

      The rules have changed for the re-entry course. It used to be that one does not have to be Canadian PR to register for the course (back in 2011), but I heard that since 2014 they only accept applications from Canadian PRs. You can contact the GNIE Program Coordinator or Administrative Assistant for the most current information.
      http://www.kpu.ca/health/nursing/contact

      > Do you have to be Canadian permanent resident to take the ... short courses??

      Sorry, I do not know the answer to your question. Try emailing CRNBC to ask directly.

      > What would be the total expense of the reentry course?

      I took the course back in 2012, I'm sure inflation would have driven the costs further up by now. You can contact the GNIE Program Coordinator or Administrative Assistant for the most current information.
      http://www.kpu.ca/health/nursing/contact

      > how would an applicant spend that time duration in Canada or does the applicant return home following SEC?

      It all depends on the SEC applicant. Some have tourist visas that allow them to take the chance to travel and explore Canada. Some return home following SEC. Most of the applicants that I've met are already Canadian PRs, so they stick around in Canada for the result.

      Cheers, WD.

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