Yesterday was quite a gloomy weather day. It was cold, and rainy, and my day required an hours walk in that nonsense. You see I was at school yesterday and since I go to school in a different city than that which I work, I am fortunate to borrow my friend's driveway to park my car in and avoid those astronomical parking fees on campus. What that meas is I have to walk form her house to campus and back. I lucked out by arriving before she had left for work and was able to get a ride to campus. This saved me an hours walk in the gloomy rain on the way there. I was not as fortunate, so donning my large golf umbrella, and my trench coat (I forgot to wear my Wellington's - silly me) I trudged the hour back to her place ot pick up my car and drive back to work.
Yesterday I had also promised le man I would shop for groceries. So, after work, I went to pick up the $118 worth of groceries to get us through the rest of the week and partially into next. Most of the purchase was produce and cleaning supplies. While I was wandering the produce section I decided last night would be a lovely night to make some tasty, hot, fresh, homemade soup. Le man was at work until nearly 8pm, so coming home and having to figure out what to eat for dinner wasn't something he was looking forward too. I was still chilled from the day, and wanted something hot, fresh and tasty, that didn't come out of a can and get reheated. I threw a potato, onion, an entire Butternut squash and some Becel into a pot to begin the cooking process to become Butternut squash soup. I had found a low sodium Vegetable broth in the organic foods section - on for $4.00 - so that was the base for the soup. Once the veggies had cooked for 10 minutes, 3 cups of the broth went in to boil for 30 minutes. Once that was done, a can of evaporated milk, salt, pepper, thyme, and parsley joined the pot for another 10 minutes. Le man arrived home just as the final 10 minutes of cooking had begun, marvelling at how the hall smelled so tasty his mouth was watering. That was until he took a good deep breath of the apartment and literally cheered that it was "his" place that smelled so darn good! Mouth literally dripping with saliva, he exclaimed his undying love and devotion to me, and embraced me in only a way that someone truly loves someone else could.
He mumbled something about not needing to stop to pick up some salads when he stopped to get the Skim Milk I'd forgotten. I told him he had enough time to wash up, or have a quick shower if he hurried, and that I'd be putting the soup through the blender shortly. Veggies were mashed then the soup was whipped in my Bullet Blender (supposed to be for mixed drinks according to Mimi, but soup is what I use it for). And voila - enough soup for two people to enjoy a bowl for dinner - a bowl for lunch, then dinner, and one more lunch I think. Cooked once - meals for the rest of the week!
Love is a hot soup that fragrances the hall of an apartment making everyone silently envious of whatever culinary masterpiece is occurring behind a door on a night when someone works an extra 2.5 hours and is a cold, wet, gloomy weather day. Love is the salivation, sheer joy when arriving to the door with the culinary treasure occurring behind it and realizing someone thought enough to make something that is so tasty for you so you don't have to worry about what to have for dinner. Love is the way you eat said culinary masterpiece, do the dishes together so the kitchen looks immaculate then snuggle under a blanket to fight off the cold and watch your favourite Tuesday night programming, all the while exclaiming that the meal was exactly what was needed to end the gloomy day, and was so unexpected that the person didn't even know that's what they needed. Love is knowing there's more for lunch the next day!
Wednesday, September 29, 2010
Monday, September 27, 2010
Pay Day Joys
On this refueled journey I'm taking to my debt freedom I've renewed my vigor for getting this goal completed. Yesterday was pay day. A fantastic day for me.
I pulled out my shiny new tracking chart for my budget, opened up my computer and logged into my account. (I had deposited the cheque on the way home from work) Up comes my account - with a lovely balance now that I've got my cheque in there. Out comes my tracking sheet with it's new balance after deductions, date and amount paid columns and out comes my fun coloured pen. Hey ya have to play a game with yourself and use fun things to make getting to debt freedom a fun ride and not a dredgory of tasks.
It turns out that with my $550 payment last night, I've put $1,211.13 onto my debt this month!
I'll be taking a look at my overall for September on the upcoming weekend so I know what to work harder at for October. I am proud of myself for increasing my base payment amount this month!
I pulled out my shiny new tracking chart for my budget, opened up my computer and logged into my account. (I had deposited the cheque on the way home from work) Up comes my account - with a lovely balance now that I've got my cheque in there. Out comes my tracking sheet with it's new balance after deductions, date and amount paid columns and out comes my fun coloured pen. Hey ya have to play a game with yourself and use fun things to make getting to debt freedom a fun ride and not a dredgory of tasks.
It turns out that with my $550 payment last night, I've put $1,211.13 onto my debt this month!
I'll be taking a look at my overall for September on the upcoming weekend so I know what to work harder at for October. I am proud of myself for increasing my base payment amount this month!
Monday, September 20, 2010
What would you do?
Ok - I've been to three wedding so far this year. I have my sister's bridal shower in November and then her wedding in January to get through still. I also have a Reception Party for a really good friend of mine that had a very very small wedding (5 people plus the officiant) and then told all of us after the fact. I knew he was asking her dad for permission, but was shocked and joyous that he got engaged and married in less than 24 hours. It's his style, and fits this couple to a tee...and was kinda fun since they were trying to get pregnant and are currently and were at the time of the wedding/engagement.
Here's the question...
This person is a really really close friend - you met in high school, hung out all of high school, college and university and still hang out regularly today. I want to give them something as a couple to celebrate their union and their upcoming bundle of joy. What is an appropriate gift for such an occasion?
They are the type to not ask for anything, and really just want the company at the party they are throwing - but he's the third guy out of the three that I grew up with to get married, and the second one to be expecting. I'm thinking a card with something (cash or gift card) in it - as I would have done something for them even if they had an actual invite-the-group-ceremony/reception thing. He's been my best guy friend for half my life now, and I love him like a brother. So what would be an appropriate gift? There are these new things out now - the Visa/Mastercard Gift Cards that I was thinking of giving them $100 of but I'm not sure. I have something for when the baby gets here already (that's the kind of person I am), so I want it to be something they can use whenever they want for whatever they want that they don't have to worry about exchanging later.
What do you think?
Here's the question...
This person is a really really close friend - you met in high school, hung out all of high school, college and university and still hang out regularly today. I want to give them something as a couple to celebrate their union and their upcoming bundle of joy. What is an appropriate gift for such an occasion?
They are the type to not ask for anything, and really just want the company at the party they are throwing - but he's the third guy out of the three that I grew up with to get married, and the second one to be expecting. I'm thinking a card with something (cash or gift card) in it - as I would have done something for them even if they had an actual invite-the-group-ceremony/reception thing. He's been my best guy friend for half my life now, and I love him like a brother. So what would be an appropriate gift? There are these new things out now - the Visa/Mastercard Gift Cards that I was thinking of giving them $100 of but I'm not sure. I have something for when the baby gets here already (that's the kind of person I am), so I want it to be something they can use whenever they want for whatever they want that they don't have to worry about exchanging later.
What do you think?
Friday, September 17, 2010
Current Debt Free Date
As it was pointed out, I have a bunch of debt free dates posted that don't even look the same.
I have pulled out my trusty little Xcel spreadsheet and plugged in the new monthly debt contributions of $1140. I have accounted for months when there is a third check by doubling the debt repayment of $1140 - making those months $2280. This has results in a debt free date of June 30, 2012. Since I have some more money coming back into my budget shortly, from things like a car insurance rate reduction, no more bank fees, and no more gym membership, this date will change again. For the next four months at least, I've got a debt freedom date of June 30, 2012.
That's 22 months from now (including September 2010). I'm pretty sure this will drop to just under 18 months once everything is all in. Keeping in mind that this does not include things like Expense reimbursement and Mileage checks from work. I don't count those because they vary from month to month and there are some months when I do no travelling for work at all. Also, I have not included the fact that I have a medical reimbursement from work up to a capped amount. My budget includes a set amount each month I have to pay for medical expenses up front, but I get some of that back from the company I work for, as part of a benefit from the company. So, along the way I'll be able to move the money I get back over to the debt as well. That's an extra payment from reimbursement each year.
All of those extra supplemental income sources will work in my favour during this debt repayment plan I have. In the end, it is looking like I could be out of debt a lot sooner than even I thought!
I have pulled out my trusty little Xcel spreadsheet and plugged in the new monthly debt contributions of $1140. I have accounted for months when there is a third check by doubling the debt repayment of $1140 - making those months $2280. This has results in a debt free date of June 30, 2012. Since I have some more money coming back into my budget shortly, from things like a car insurance rate reduction, no more bank fees, and no more gym membership, this date will change again. For the next four months at least, I've got a debt freedom date of June 30, 2012.
That's 22 months from now (including September 2010). I'm pretty sure this will drop to just under 18 months once everything is all in. Keeping in mind that this does not include things like Expense reimbursement and Mileage checks from work. I don't count those because they vary from month to month and there are some months when I do no travelling for work at all. Also, I have not included the fact that I have a medical reimbursement from work up to a capped amount. My budget includes a set amount each month I have to pay for medical expenses up front, but I get some of that back from the company I work for, as part of a benefit from the company. So, along the way I'll be able to move the money I get back over to the debt as well. That's an extra payment from reimbursement each year.
All of those extra supplemental income sources will work in my favour during this debt repayment plan I have. In the end, it is looking like I could be out of debt a lot sooner than even I thought!
Thursday, September 16, 2010
It's Official!!
The wait is over!
I went home for lunch today and found my Telus Mobility Invoice in the mail. I opened it up and read that I am officially out of my contract, and the number has been transferred to my friend.
So what did it cost me?
A trip to my friend's place, three phone calls to Telus in total and 3 hours of friend time!
Yep that's right!! I have a big ol' credit from Telus for $4.41!! Which means it cost me nothing to change over the contract to her name and get a phone number in her area!!
I called Telus last week and had them transfer the credit form my invoice to hers as it is less than the amount they will refund a cheque for. I figure this will help offset the last three days of the contract she took over from me before the billing cycle ended and is better than donating $4.41 to Telus for being a loyal client for nearly 6 years.
I will be transferring that $40 I had budgeted to Telus this month to my CIBC debt as soon as I finish this post.
September is quickly becoming a FABULOUS month!!
[insert happy dance here]
I went home for lunch today and found my Telus Mobility Invoice in the mail. I opened it up and read that I am officially out of my contract, and the number has been transferred to my friend.
So what did it cost me?
A trip to my friend's place, three phone calls to Telus in total and 3 hours of friend time!
Yep that's right!! I have a big ol' credit from Telus for $4.41!! Which means it cost me nothing to change over the contract to her name and get a phone number in her area!!
I called Telus last week and had them transfer the credit form my invoice to hers as it is less than the amount they will refund a cheque for. I figure this will help offset the last three days of the contract she took over from me before the billing cycle ended and is better than donating $4.41 to Telus for being a loyal client for nearly 6 years.
I will be transferring that $40 I had budgeted to Telus this month to my CIBC debt as soon as I finish this post.
September is quickly becoming a FABULOUS month!!
[insert happy dance here]
Monday, September 13, 2010
Car Insurance change over
I received in the mail today my letter from my current Car Insurance Firm telling me they'd received confirmation from me or my representative stating I would like to cancel my policy. They showed the amount of coverage premiums I'd used so far and what I'd paid. They will be returned a credit of $138.15 to me from premiums paid for but not used.
Oh boy! What this means to me is this - I have not paid two companies a premium for the same month, and the amount unused form company 1 will be nearly the same as one month of coverage from company 2, which means the switch didn't cost a single penny to me and I'm saving money! I have a temporary policy with company 2 at the moment as we are waiting for the underwriting to be completed and the policy mailed out to me. I love savings mail!!
In other news, I used my Clothing and Gifts fund for this month to purchase my Grandfather's Christmas present and part of my Mom's christmas present! That means I've completed the following presents so far:
Neice
Grandmother
Grandfather
Part of Mom's
Sister
It's only September 13th, but I'm well on my way to completing my Christmas shopping early and within budget! This money stuff is getting to be really really fun!
Oh - for those out there wondering how I managed to get a car insurance policy in the middle of the year, $200 lower than the one I found in February...it's because I'm good! No. Not really. It's because I spoke to the broker my boyfriend has his policies with, explained that we were trying to make the switch back in February, but the person dealing with my file couldn't get their head around the fact that we wanted a 3rd policy with the same company....so the partner took the case over, did a little leg work, in that she called Aviva and explained that Aviva would still be getting my money, it's just the actual policy holder under their umbrella was changing. In doing that I kept my driving record rating, added another policy under the same household and am reaping the rewards of multiple policies in the same house!
Not too shabby. Once I get everything in the mail I can do the happy dance, and tell you all exactly what I'm diverting to debt repayment by making this switch. Ya know...18 months from now I'll be able to see the end of the debt hole! Gosh what a great feeling that is!!
Oh boy! What this means to me is this - I have not paid two companies a premium for the same month, and the amount unused form company 1 will be nearly the same as one month of coverage from company 2, which means the switch didn't cost a single penny to me and I'm saving money! I have a temporary policy with company 2 at the moment as we are waiting for the underwriting to be completed and the policy mailed out to me. I love savings mail!!
In other news, I used my Clothing and Gifts fund for this month to purchase my Grandfather's Christmas present and part of my Mom's christmas present! That means I've completed the following presents so far:
Neice
Grandmother
Grandfather
Part of Mom's
Sister
It's only September 13th, but I'm well on my way to completing my Christmas shopping early and within budget! This money stuff is getting to be really really fun!
Oh - for those out there wondering how I managed to get a car insurance policy in the middle of the year, $200 lower than the one I found in February...it's because I'm good! No. Not really. It's because I spoke to the broker my boyfriend has his policies with, explained that we were trying to make the switch back in February, but the person dealing with my file couldn't get their head around the fact that we wanted a 3rd policy with the same company....so the partner took the case over, did a little leg work, in that she called Aviva and explained that Aviva would still be getting my money, it's just the actual policy holder under their umbrella was changing. In doing that I kept my driving record rating, added another policy under the same household and am reaping the rewards of multiple policies in the same house!
Not too shabby. Once I get everything in the mail I can do the happy dance, and tell you all exactly what I'm diverting to debt repayment by making this switch. Ya know...18 months from now I'll be able to see the end of the debt hole! Gosh what a great feeling that is!!
Friday, September 10, 2010
A Throw-Down with the Bank
Hi All!
Today is a lovely day! Today I am alone at work, to complete some of the things I have to deal with without the interruptions that come from my co-workers. Today is also the day after payday!
I diligently, and happily scooted over to the bank last night after work with my paycheck, mileage check and expense check in hand. I was the only person in line, and didn't have to wait very long to see a teller. A lovely teller - though missing her name tag - deposited my check for me and politely asked if there was anything else she could help me with. I replied, yes there is, I'd like to take $379.57 out of the account, in the following denominations. I proceeded to hand her the page with the breakdown of all the bills and change. She mentions something about this being quite the exact amount, and what am I using pennies for? I let her know that I'm on a budget, this is to fill my jars, and the amounts including hte pennies are to go in to top up the jar amount for the remainder of the month. She says "I've never heard of hte jar system". Well my dear you've come to the right place!!
I let her know about Gail, her blog and website, her shows and what she stands for. I let her know that she's been helping me through my financial blunders and showing me how to get myself back on track for the life I want. I pass her a page with the website, and Slice's website for episodes of the show, tell her what channel to watch and that there are shows on each day at various times. She seems really interested in this, so I take it one step further and say, if it's something you are really interested in looking at, after you take a look at her website, we have a Gail meeting twice a month just up the road from here that you might want to check out. She asks what that's for and what we do, so I explain.
Even more important that getting my jar money. Even more important that the conversation about budgets and Gail and all that. Even more important than even my depositing my paycheck....I was at the bank today to ask that teller to remove my Overdraft Protection from my account for good!
She smiled, looked at me and said "You know, I'm supposed to tell you about this new thing we have here with the overdraft stuff, but I can tell you'll just politely tell me know when I'm done talking. I can see from your balance that you've moved money from somewhere else to try to work towards getting above the minimum balance in the account so as not to pay bank fees anymore, so all I'm going to tell you is that I need a supervisors approval to complete that request and tell you what a great job you are doing." I was very surprised at this! Finally I've met someone that can understand what I'm trying to do, can see that I've got my budget binder with me, I've got my withdrawal calculated to the penny, and I'm taking steps to clean up my act! She didn't even tell me about the credit card offer on my account.
You know the one we get "pre-approved for" with an interest rate of something ludicrous like 19.99%? She didn't even tell me about it at all...how did i find out? When I got home last night to transfer my payment to my credit card there was the extra online screen telling me all about it! Sometimes I'm amazed at the intuitiveness of the tellers at this bank I use. Other times I'm amazed at the utter ignorance of the people they have working for them!
All in all, I reduced my bank fees by $3 this month. I've moved my regular bi-weekly payment of $550 to the CIBC card. I've put my expenses back on the card $71.13. Coming up in two weeks, I'll be able to safely move the money previously allotted to Telus to my debt, and hopefully will be able to move the difference in Car Insurance to the debt as well.
My outlook and attitude have shifted, and for the first time in a long time I'm eager to get to the end of this month. Purely so I can see what I've moved to my debt and watch my amount owed come down and my Net Worth climb up!
From the above, I'm still amazed that even a bank teller isn't given the tools to create a good financial plan for themselves. it still seems that the bank is doing well at mystifying everything so everyone, including their own staff, have trouble making sense of the finances!
Today is a lovely day! Today I am alone at work, to complete some of the things I have to deal with without the interruptions that come from my co-workers. Today is also the day after payday!
I diligently, and happily scooted over to the bank last night after work with my paycheck, mileage check and expense check in hand. I was the only person in line, and didn't have to wait very long to see a teller. A lovely teller - though missing her name tag - deposited my check for me and politely asked if there was anything else she could help me with. I replied, yes there is, I'd like to take $379.57 out of the account, in the following denominations. I proceeded to hand her the page with the breakdown of all the bills and change. She mentions something about this being quite the exact amount, and what am I using pennies for? I let her know that I'm on a budget, this is to fill my jars, and the amounts including hte pennies are to go in to top up the jar amount for the remainder of the month. She says "I've never heard of hte jar system". Well my dear you've come to the right place!!
I let her know about Gail, her blog and website, her shows and what she stands for. I let her know that she's been helping me through my financial blunders and showing me how to get myself back on track for the life I want. I pass her a page with the website, and Slice's website for episodes of the show, tell her what channel to watch and that there are shows on each day at various times. She seems really interested in this, so I take it one step further and say, if it's something you are really interested in looking at, after you take a look at her website, we have a Gail meeting twice a month just up the road from here that you might want to check out. She asks what that's for and what we do, so I explain.
Even more important that getting my jar money. Even more important that the conversation about budgets and Gail and all that. Even more important than even my depositing my paycheck....I was at the bank today to ask that teller to remove my Overdraft Protection from my account for good!
She smiled, looked at me and said "You know, I'm supposed to tell you about this new thing we have here with the overdraft stuff, but I can tell you'll just politely tell me know when I'm done talking. I can see from your balance that you've moved money from somewhere else to try to work towards getting above the minimum balance in the account so as not to pay bank fees anymore, so all I'm going to tell you is that I need a supervisors approval to complete that request and tell you what a great job you are doing." I was very surprised at this! Finally I've met someone that can understand what I'm trying to do, can see that I've got my budget binder with me, I've got my withdrawal calculated to the penny, and I'm taking steps to clean up my act! She didn't even tell me about the credit card offer on my account.
You know the one we get "pre-approved for" with an interest rate of something ludicrous like 19.99%? She didn't even tell me about it at all...how did i find out? When I got home last night to transfer my payment to my credit card there was the extra online screen telling me all about it! Sometimes I'm amazed at the intuitiveness of the tellers at this bank I use. Other times I'm amazed at the utter ignorance of the people they have working for them!
All in all, I reduced my bank fees by $3 this month. I've moved my regular bi-weekly payment of $550 to the CIBC card. I've put my expenses back on the card $71.13. Coming up in two weeks, I'll be able to safely move the money previously allotted to Telus to my debt, and hopefully will be able to move the difference in Car Insurance to the debt as well.
My outlook and attitude have shifted, and for the first time in a long time I'm eager to get to the end of this month. Purely so I can see what I've moved to my debt and watch my amount owed come down and my Net Worth climb up!
From the above, I'm still amazed that even a bank teller isn't given the tools to create a good financial plan for themselves. it still seems that the bank is doing well at mystifying everything so everyone, including their own staff, have trouble making sense of the finances!
Wednesday, September 08, 2010
There are days when I absolutely love finding money!
Today is one of those days. I just got off the phone with Telus to double check the amount of my last bill with them. I completely forgot that I had paid for August already - you pay for the month ahead of your usage. In effect by switching the account to my friends name prior to my billing cycle ending I had received a credit of $4.41. I am not being charged for the change in phone number! And I'm getting money back on paper...I say on paper because Telus doesn't issue refund checks for less than $5. So what have I done with my pending credit?
Like any good friend I had them transfer it to my friends new account with the number and everything. Because she took over the account prior to my billing cycle being over, she'll get dinged for the 3 days left on the schedule. So, the $4.41 I'm getting back will be the same amount she gets charged for the cross-over billing, so I had them include the credit on her bill.
Of course all this is subject to verification upon receipt of both invoices...but so far it looks like the removal of the cell phone from my budget has cost me nothing more than a visit with my friend in another city! AND it means that I can safely transfer the money I had budgeted for my cell phone over to my debt THIS MONTH! Of course I'll wait until the actual invoice arrives in my mailbox and I've opened it and read all final words about this, but seriously...looks like I saved myself $560 of barely used cell phone payments.
That's how you get out of your cell phone contract and don't have to pay a penny!!
In other news, I also spoke to my new Insurance company today. My new policy will cost me $1692.29 per year - instead of $1891.20 per year. I'll be starting that policy today, and will verify again the monthly payments, but on paper I've recovered just about $200 in switching. The payments per month should be just about $141.03 instead of the $157.60 that I'm currently paying.
I tell ya, I've never been so happy to receive mail in my whole life! It'll be like a mini Christmas for me this month! Or perhaps it's a HAPPY BACK-TO-SCHOOL month. No matter how you look at it though, I'll get two pieces of mail the will effectively reduce my budgeted variables and increase my debt repayment!
In two phone calls it looks like I'll be able to make a budget line item shift, effectively increasing my debt repayment line by $56.57 this month alone!
I think I can. I think I can. I think I can! I THINK I CAN!! I THINK I CAN!!!
Like any good friend I had them transfer it to my friends new account with the number and everything. Because she took over the account prior to my billing cycle being over, she'll get dinged for the 3 days left on the schedule. So, the $4.41 I'm getting back will be the same amount she gets charged for the cross-over billing, so I had them include the credit on her bill.
Of course all this is subject to verification upon receipt of both invoices...but so far it looks like the removal of the cell phone from my budget has cost me nothing more than a visit with my friend in another city! AND it means that I can safely transfer the money I had budgeted for my cell phone over to my debt THIS MONTH! Of course I'll wait until the actual invoice arrives in my mailbox and I've opened it and read all final words about this, but seriously...looks like I saved myself $560 of barely used cell phone payments.
That's how you get out of your cell phone contract and don't have to pay a penny!!
In other news, I also spoke to my new Insurance company today. My new policy will cost me $1692.29 per year - instead of $1891.20 per year. I'll be starting that policy today, and will verify again the monthly payments, but on paper I've recovered just about $200 in switching. The payments per month should be just about $141.03 instead of the $157.60 that I'm currently paying.
I tell ya, I've never been so happy to receive mail in my whole life! It'll be like a mini Christmas for me this month! Or perhaps it's a HAPPY BACK-TO-SCHOOL month. No matter how you look at it though, I'll get two pieces of mail the will effectively reduce my budgeted variables and increase my debt repayment!
In two phone calls it looks like I'll be able to make a budget line item shift, effectively increasing my debt repayment line by $56.57 this month alone!
I think I can. I think I can. I think I can! I THINK I CAN!! I THINK I CAN!!!
Tuesday, September 07, 2010
Wow September got here fast!
Holy cow it's September! That means the apples are ready for picking, the kids go back to school, the parents go back to school, the streets get more crazy with impatient people, and there are only 4 months left in the year!
I've been writing lately that there are things I'm doing to find ways to cut back on costs in my budget to free up more money to send to my debt. I'll know this month what it actually cost to get out of my cell phone contract. I'll know this month what my new car insurance will be. I'll know this month if I can make it to a level that requires me to not pay the bank for the use of my account. I'll be taking a course towards completing my degree as well, which means I'll have to be better organized than I have been and stay on top of stuff. I always find it easier to do this if I have a school related thing going on.
So here's where I'm at with all this.
Currently I have budgeted $1100 to go towards my debt.
With Telus off my back I"ll be able to move an additional $40 to the debt, making the payment $1140.
If I can get to the level of my account and keep it there (this means leaving all extra moneies alone, and not transferring my savings to those accounts) I'll be able to transfer another $16 per month. Coming up, I'll have some cost savings per month on my car insurance, in the area of $10 per month, that will then be able to shift to my debt - now I'm up to $1166 per month. At the end of this year my gym membership will be complete and I'll free up $50 that can then be shifted towards my debt. Bumping the total to a whopping $1206 per month transferred over to the debt.
Not too shabby. Now - to get myself to the minimum level in my account I will not be moving any money to savings accounts, but leaving it in my chequing account and keeping it in the budget as such. This will boost my account by $300 each month, and mean it will take me 4 months to get to the minimum level in my account. So, by Christmas I should not see any more bank fees. And once I reach this level I'll be able to remove the overdraft protection I put on this account oh so long ago.
For now, I'll have a decent account balance for a while, but still have to pay the bank fee. Once levels are reached I'll be able to begin transferring the amount allotted to savings over to debt and knock that sucker down even more.
I have a few more tricks up my sleeve for finding more money to move to debt, but for now finding an extra $40 per month is a nice start. I feel better about ramping up the to-debt allotment as I go through the rest of this year, as it feels like a snowball gaining momentum rather than the dread of debt debt debt.
Also - Thursday is payday - and I've got a mileage check and reimbursement of expenses check to deposit as well. I'll be moving the reimbursement over to debt, but I think I'll leave the mileage to help boost the amount in the account...this will get me to my goal faster =)
The plan is that by January, I've reached a maintainable level in my account, I've removed the gym from my expenses, and I'll be able to safely transfer $1500 to debt per month. Though I'll have to double check that before it starts....
Building momentum is fun!
I've been writing lately that there are things I'm doing to find ways to cut back on costs in my budget to free up more money to send to my debt. I'll know this month what it actually cost to get out of my cell phone contract. I'll know this month what my new car insurance will be. I'll know this month if I can make it to a level that requires me to not pay the bank for the use of my account. I'll be taking a course towards completing my degree as well, which means I'll have to be better organized than I have been and stay on top of stuff. I always find it easier to do this if I have a school related thing going on.
So here's where I'm at with all this.
Currently I have budgeted $1100 to go towards my debt.
With Telus off my back I"ll be able to move an additional $40 to the debt, making the payment $1140.
If I can get to the level of my account and keep it there (this means leaving all extra moneies alone, and not transferring my savings to those accounts) I'll be able to transfer another $16 per month. Coming up, I'll have some cost savings per month on my car insurance, in the area of $10 per month, that will then be able to shift to my debt - now I'm up to $1166 per month. At the end of this year my gym membership will be complete and I'll free up $50 that can then be shifted towards my debt. Bumping the total to a whopping $1206 per month transferred over to the debt.
Not too shabby. Now - to get myself to the minimum level in my account I will not be moving any money to savings accounts, but leaving it in my chequing account and keeping it in the budget as such. This will boost my account by $300 each month, and mean it will take me 4 months to get to the minimum level in my account. So, by Christmas I should not see any more bank fees. And once I reach this level I'll be able to remove the overdraft protection I put on this account oh so long ago.
For now, I'll have a decent account balance for a while, but still have to pay the bank fee. Once levels are reached I'll be able to begin transferring the amount allotted to savings over to debt and knock that sucker down even more.
I have a few more tricks up my sleeve for finding more money to move to debt, but for now finding an extra $40 per month is a nice start. I feel better about ramping up the to-debt allotment as I go through the rest of this year, as it feels like a snowball gaining momentum rather than the dread of debt debt debt.
Also - Thursday is payday - and I've got a mileage check and reimbursement of expenses check to deposit as well. I'll be moving the reimbursement over to debt, but I think I'll leave the mileage to help boost the amount in the account...this will get me to my goal faster =)
The plan is that by January, I've reached a maintainable level in my account, I've removed the gym from my expenses, and I'll be able to safely transfer $1500 to debt per month. Though I'll have to double check that before it starts....
Building momentum is fun!
Friday, September 03, 2010
Waiting for the 18th...
Cell phone has been transferred to my friend. Now I just have to wait for the last bill and I'm done with the bill!! And by the 18th I'll also know about what my new car insurance is going to be (though I suspect I'll know by the end of next week.)
For a total of $50 I'm out of the contract, my friend has what they were looking for and I dont' have to pay $560 or even $280!! Not too shabby!
Stay tuned for verification on everything!!
Happy September Long Weekend to all of you!
For a total of $50 I'm out of the contract, my friend has what they were looking for and I dont' have to pay $560 or even $280!! Not too shabby!
Stay tuned for verification on everything!!
Happy September Long Weekend to all of you!
Wednesday, September 01, 2010
Would ya look at that!?!
So for the last few posts I've beee writing about ways I'm finding money in my budget to knock down my Debt. The one I've been working on for a little while now is that drned cell phone.
I was speaking to my best friend the other day and she mentioned that her and her husband were looking into a second cell phone so they had something for emergencies while they are on the road. I happened to mention to her about me wanting to get out of my I-pay cell phone in favour of my work-pay cell phone. She asked me to send particulars of my contract and cell phone to her husband. Yep did that. Last night I called her to ask le ther know i needed an answer soon about it as my billing cycle ends on Sept. 5 and it'll cancel after that if I haven't heard. Long story short, they have agreed to take over the remainder of my contract, with my cell phone. I have to transfer the number to one in their area (we live in two completely different cities with different area codes) Telus kindly mentioned that that was a nominal fee, the plan would roll with it and if I got it done before Sept. 5, they'd even waive the fee for me!
Again long story short, I'll be calling them tomorrow to move the number to the new area code, then giving them the new billing information for the account and driving the phone out to her!!
What this means to me is this...for my bill in coming to me in September, I'll have the normal charges, but I won't have the $25 fee for a new area code number. On their first bill they'll see a $25 take-over administration fee and the regular amount. So, I've managed to remove myself from the contract without paying the fee for ending early ($20 per month left) or paying the approx. $40 each month until the end that is my monthly fee. Tada!! That $40 I'd budgeted now moves directly to Debt Repayment each month. That makes the total debt contribution $1140 per month! First hurdle done!
I have to wait until Sept. 8 for my new insurance papers to come in with the confirmed new lower rate, but then I can start shifting hte difference from my current budgeted amount, to the lower amount over to my debt! That'll be 2 of the four things i mentioned earlier! That fees me up to work on the no bank fees thing. By that time I'll be done with my gym membership as well. So for the next couple of months I'll be moving $1140 to my debt. After next month I'll have a better idea of how much more that will go up.
My challenge this month is to stay on budget and find a way to make some extra money to shift directly to my debt!
Stay tuned! I can't believe I made it out of my contract for nothing though!
I was speaking to my best friend the other day and she mentioned that her and her husband were looking into a second cell phone so they had something for emergencies while they are on the road. I happened to mention to her about me wanting to get out of my I-pay cell phone in favour of my work-pay cell phone. She asked me to send particulars of my contract and cell phone to her husband. Yep did that. Last night I called her to ask le ther know i needed an answer soon about it as my billing cycle ends on Sept. 5 and it'll cancel after that if I haven't heard. Long story short, they have agreed to take over the remainder of my contract, with my cell phone. I have to transfer the number to one in their area (we live in two completely different cities with different area codes) Telus kindly mentioned that that was a nominal fee, the plan would roll with it and if I got it done before Sept. 5, they'd even waive the fee for me!
Again long story short, I'll be calling them tomorrow to move the number to the new area code, then giving them the new billing information for the account and driving the phone out to her!!
What this means to me is this...for my bill in coming to me in September, I'll have the normal charges, but I won't have the $25 fee for a new area code number. On their first bill they'll see a $25 take-over administration fee and the regular amount. So, I've managed to remove myself from the contract without paying the fee for ending early ($20 per month left) or paying the approx. $40 each month until the end that is my monthly fee. Tada!! That $40 I'd budgeted now moves directly to Debt Repayment each month. That makes the total debt contribution $1140 per month! First hurdle done!
I have to wait until Sept. 8 for my new insurance papers to come in with the confirmed new lower rate, but then I can start shifting hte difference from my current budgeted amount, to the lower amount over to my debt! That'll be 2 of the four things i mentioned earlier! That fees me up to work on the no bank fees thing. By that time I'll be done with my gym membership as well. So for the next couple of months I'll be moving $1140 to my debt. After next month I'll have a better idea of how much more that will go up.
My challenge this month is to stay on budget and find a way to make some extra money to shift directly to my debt!
Stay tuned! I can't believe I made it out of my contract for nothing though!
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