Case Study - Cash flow, new job, and cutting budgets.

[OfMoneyandModesty]

About me: I am 21 years old, living in Canada. I just began my mustachian journey 3 weeks ago, finally seeing the light after spending every penny - and more- than I earned. I've never been so happy. I have no debt whatsoever, don't own anything but basic furniture, I rent, am single (financially). I want to retire ASAP with $25,000 a year in dividends. I know I'm living off of about half that right now quite happily but I want money to travel a bit with in the future and have more flexibility for the rest of my life.

Income:
$4663 monthly, $55,956 yearly.

Current expenses:

Rent: $800 (moving in January somewhere cheaper!)
Hydro: $35
Internet: $70
Travel: $30 (bus tickets for bad weather, I bike/walk everywhere else)
Food: $150
Netflix: $8
Medical: $20
Toronto Travel: $50 (visiting SO)
Dates: $50
Extra: $122 (This is for expenses I don't have every month. Some months I have to buy make up. Some months I need new clothes [used! don't worry]. This month I had to take a $20 emergency cab. This category is for all of that, because it changes every month.)

Total: $1,335


Assets:

 In the past 3 weeks I saved up $2k. It's just sitting in my bank account for now, I want to invest as soon as possible, still doing research on Canadian investing.

Specific Question(s):

Other than cutting down on my rent (I hope to find a place for under $500, everything included. My city is cheap. It's awesome) are there any leaks in my budget you see? Anywhere I could improve? How long do you think it will take to retire?

Also, when I first found MMM I found a calculator that did calculations on projected retirement date based on savings and growth of dividends... I can't find it anymore. Anyone know where that is?

[zataks]

I would put things like Netflix and medication to a line item in the budget separate from Spending.  If they are known and recurring, why leave them in a larger, ambiguous pool?  Spending is almost 20% of your budget; without breaking that down to specifics monthly, it's hard to say if anything there could be reduced.

What about personal care, clothing, dining out?

And your internet sounds expensive especially as you're in Canada.  Maybe that's typical?  I was just under the impression that almost everywhere other than the US had more reasonably priced, quality ISPs. 

Are your incomes listed gross?  I guess they must be or else you'd have $3300/month extra.  Maybe post your net income.

I don't want to get too deep into this too quickly but I will suggest that I feel commuting for a significant other is an even poorer choice (financially and otherwise) than commuting for a job.  But feel free to ignore my opinions on this. =)

[OfMoneyandModesty]

I would put things like Netflix and medication to a line item in the budget separate from Spending.  If they are known and recurring, why leave them in a larger, ambiguous pool?  Spending is almost 20% of your budget; without breaking that down to specifics monthly, it's hard to say if anything there could be reduced.

What about personal care, clothing, dining out?

And your internet sounds expensive especially as you're in Canada.  Maybe that's typical?  I was just under the impression that almost everywhere other than the US had more reasonably priced, quality ISPs. 

Are your incomes listed gross?  I guess they must be or else you'd have $3300/month extra.  Maybe post your net income.

I don't want to get too deep into this too quickly but I will suggest that I feel commuting for a significant other is an even poorer choice (financially and otherwise) than commuting for a job.  But feel free to ignore my opinions on this. =)

I'll get on changing all that - I think you're right.
My SO lives in Toronto. I take the go bus twice a month to visit him, and he comes twice a month to visit me. Trust me, I'm not happy about having to go to Toronto for him. Considering I'm working 70 hour weeks and he's on a break from work, I think he should be the one coming here every single time. I spend $50 a month visiting him.
SO's are so bloody expensive. Ugh.

[RichMoose]

I'm guessing you're looking for this MMM post: http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/

Is your posted income gross, or after tax and withdrawals (EI, CPP)? Do you have deductions for a pension plan right now?