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:
it's good to see a post by you! what is the snowflake idea?
SHE'S ALIVE!!!! ;)
Haha...
You are doing GREAT! $480 since May? As in last month? Um, AMAZING!!!!
Wow, you're so close to not having any debt! Keep up the great work. And glad to see you're typing. :)
@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.
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.
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!
I tagged you today!! :)
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