Wednesday, 17 June 2009

Pay day!

I've allocated today's paycheque as follows (I had some extra, so spread the wealth around a bit more than I would have otherwise):

Total pay: $1309.30 (usual biweekly take home is $1023)

RRSP: $100 - (will up it to 18% once I'm debt free)
TFSA (rent account): $50
LOC: $115
Student Loan: $25
Revenue Canada: $100 (as agreed)
ING: $75 - $25 each to vet, travel & EF accounts
VISA: $83.41

Total paid: $548.41
Remaining: $760.86

I still have to take out $700 for rent, plus $40 for my allowance and $180 for the jars, so it doesn't really work out, but fortunately I get a paycheque from the hotel on Friday ($300), so I'm going to go ahead and take what I need from this for my jars & allowance. I've updated my sidebars to reflect my savings.

After these payments go through, my debt totals will look something like this (Rev Can approximate):

VISA: $200
Student loan: $1869.76
LOC: $1985
Rev Can: $1340

Total debt: $5419.76
Total paid (since May): $480.76!! (if I could make this flash, I would! Ha!)

Wahoo!! AND there are 3 paycheques in July - 6 counting the hotel cheques (albeit smaller ones) - so I expect a bigger drop next month. The VISA will be paid off in full by the time it's due next month, as I have the money in my car account at ING and am waiting to transfer it.

I have started a snowflake jar as well and already have about $80 in it. I'm going to use this for debt repayment, most likely the LOC, as that's the one I'm most annoyed about. I put the remainder of whatever I have left in my jars in there and it's surprising how quickly it adds up (I KNOW!).

But I still have to stop spending so much money. It's just all over the place and I'm not keeping track as carefully as I was, so that has to change, too. Still, the numbers are a lot more positive, so that's definitely motivating!

Yay me! ;)

7 comments:

dinah34 said...

it's good to see a post by you! what is the snowflake idea?

Frugal Dreamer said...

SHE'S ALIVE!!!! ;)

Haha...

You are doing GREAT! $480 since May? As in last month? Um, AMAZING!!!!

moneyfunk said...

Wow, you're so close to not having any debt! Keep up the great work. And glad to see you're typing. :)

Northern Living Allowance said...

@Dinah - thanks! I've been stupidly busy the past couple of weeks and have barely had time to sit down and write a post...the snowflake jar is "remaining" or "extra" cash that can build up to pay down debt or save up for something.

@FD - Ha! :) I was very pleased with the drop myself. Considering how much $$ disappears from my wallet and bank account each month, that's a pretty darn good drop!

@MF - Thanks! I know! I'm so happy that it's dropping faster than I hoped for - after my frustration of last month, I'm trying to focus on the positive, instead of the "what was I thinking?" thoughts that still ramble through my head from time to time.

dinah34 said...

i just read this online article in the financial post magazine that mentions your blog and describes it as you fighting debt and 'angst'. angst? really? i was not impressed with that. there's no angst here. now i'm all harrumphed on your behalf.

T'Pol said...

Yay you! Told you so, didn't I? I think you are doing a great job paying your debt.

Good vibes from accross the ocean!

Frugal Dreamer said...

I tagged you today!! :)