I spent a little time thinking about my financial decision on Monday. On Tuesday I acted on it. I moved $1400 from my EFund (aka Savings) and paid off my Visa and 1/3 of my furniture purchase. The financing is 0% for 8 months, but why wait? I have a comfortable $1K left in the EFund which is sufficient for now - I have an auto transfer of $30 a month anyway, so I'll be building it back up anyway. I'm just very, very sick of debt.
I still have a couple of hundred dollars to figure out what to do with and I'm thinking I'll put in on my LOC and knock that down a bit. I don't want to leave myself entirely without savings - just in case - but I am really keen to get this debt gone now. I have a monthly payment that comes off the Visa, so once I've finished typing this, I will be calling to have that cancelled.
I've also finished my first afghan strip, so feel quite accomplished. :)
It's amazing what several nights of decent sleep will do for you!
3 comments:
I hear what you're saying about paying off your debt so you forget about it
Even at 0% interest.. :) Many people would moan: BUT ALL YOUR INTEREST for 8 MONTHS! You gave it away!!
Still. Peace of mind...
I agree with FB. Peace of mind is priceless. :)
Hi FB, Hi Pear - thank you! This is what I'm trying to achieve - peace of mind! I know that once the debt is paid off, other goals will become far easier to achieve. To that end, after a conversation with an uber-sensible friend yesterday, I've cancelled all my auto-savings (except for RRSP & EFund) to focus on getting my debt gone a whole lot sooner!
I may also be able to leave the p/t job a lot sooner, too, which would be GREAT!! Anyway, one step at a time. :)
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