I AM DEBT-FREE!!!
My hands are shaking right now as I type this. I can’t believe I’ve finally rid myself of the financial baggage and stress I’ve carried for so long!!! Goodbye student loans! Goodbye stupid line of credit! You’re all dead to me now!
Starting this blog was one of the best decisions I’ve ever made, because it made me accountable for my spending habits. So thank you all for your support! :) You might notice that I’ve updated the sidebar today as well. I rolled my LOC and Student Loans into one category called “My Debt” to save space. I also put July 14th, 2006 as the starting date, because that’s when I made my first payment towards my debt. I put $100 into my EF, $100 into the condo down payment fund, and $50 towards my RRSPs.
Ahhhh!! I’m practically bouncing off the walls with excitement. Time to get out of the house and celebrate! Well, seeing as it isn’t even 8am yet, maybe I should wait. :)
I’ve been spending a lot lately on food. I really really need to stop, but it’s only going to get worse in the next week or so … and for that, I feel really guilty. But not that guilty.
Oh, and I also requested to transfer the $239.45 from my emergency fund over to my chequing, so I can pay for those sunglasses. Then when the claim comes back from my health care, I’ll put it back in the EF.
What I’ve spent so far:
- $5.29 (Sunday) – bought a large blizzard at Dairy Queen for the BF and I to share while we were out for a walk during the evening.
- $9.52 Koya Japan (Wednesday) – bought dinner for my sister and I while we were out shopping for new work clothes (for her). My only saving grace was that I didn’t buy any clothes, and I resisted both Baskin Robbins and Ben & Jerrys at the mall.
- $3.34 JJ’s Coffee House (Thursday) – bought a tea and a muffin while out of the office for the morning running some errands with a co-worker. I should have brought my cheese and crackers that I packed for lunch, and used one of my own tea bags that I have at work, but when my co-worker suggested going to grab a snack, I couldn’t say no.
Total Damage: $18.15. Now, that’s not bad by any means, but all of them could have been avoided. Especially when I had set a $30/month budget for dining out, and I blew the April budget … it sucks. And then when I think to myself that I’ve been doing so well repaying my debts, I deserve a little treat, I get mad. It’s that whole “sense of entitlement” feeling that I hate having.
What I plan on spending:
- $17 at the Fairmont Empress Hotel for their “Death By Chocolate” dessert buffet (on Friday). Okay, this is a total want vs. need. Not only is this pre-planned, but I’m the one doing the planning! LOL! But this is 5 hours of all-you-can-eat chocolate desserts at the classiest (and most famous) hotel in town. Plus, I plan on treating my good friend to her bill as well, because 1) I didn’t get her a birthday present, and 2) her boyfriend just dumped her suddenly on Wednesday. And we all know that chocolate cures all.
- $10 for my share of the groceries for tonight’s BBQ with a few of my friends. I don’t anticipate this being very much – at least not more than $10.
I feel like I’m 16 all over again and rebelling against my parents, except that I’m 24 and rebelling against my own budget. And that’s kinda sad.
This will be a tough month because my part-time job with the hockey team has ended for the season. Today I’m submitting my application for an usher at the arena, but I doubt it’ll bring in the $250-300/month I was making with the hockey team. Granted, that’s not a lot of money either, but it’s more than the $100-$150 I plan to pull in with the ushering job. I still make a comfortable amount with my full-time job to not really need a part-time job when it comes down to it, but every dollar counts!
May 2007 goals:
- Pay off my Line of Credit. I should be able to do this with my May 8th pay cheque. And then (deep breath) I’ll be D.E.B.T F.R.E.E!!!!!!!!!!!! I never thought this day would come.
- $100 towards RRSP. I changed my mind, and I’m just going to keep contributing $50 bi-weekly. I talked to my Mom about it, and she said I shouldn’t start contributing more until I have a permanent job. Instead, I should put the money into my Emergency Fund because I can always make a lump sum deposit into my RRSP when I’m doing my taxes next year. That seems logical. It also makes me nervous that she’s right – my job situation is so up in the air right now, and my contract at my current job is up in almost 6 months.
- $500 towards Emergency Fund. I will try as hard as I can to contribute more, because I’m pretty sure I’ll need to come up with the money for that dental work I’ve been talking about. And with this $500, that’ll completely wipe out the EF. :( But it needs to get done.
- $300 towards Condo Down Payment Fund. Once I’m debt-free, I’m going to pour money into this fund like it’s nobody’s business. But until then, I’m stuck contributing pennies.
- Find another part-time job. If for some reason I can’t do the ushering thing, then I’ve got to find another part-time job. I don’t know if I’m allowed to be picky, but I’m going to be anyway. I won’t work in a mall, or in a restaurant … and I don’t want to be stressed at all at the job. I really just want a job that will pay me to hang around. That’s why the ushering job is perfect. :) We will see!