It’s been about 7 weeks since I started blogging again. Not only does it feel great to be re-connecting with everyone, but I have actually managed to stay on track with my aggressive debt repayment plan! Since summer is half-over, I think it’s time to checkup on my goals and see how much progress I have actually made…
Make all -$117.42 bi-weekly Car Loan payments.
Easy peasy! I’ve never missed an auto-withdrawal in my life.
Make all -$149 bi-weekly Personal Loan payments.
Done. See above.
Pay off School Loan (-$4,452).
Since June 7, I have paid off exactly -$3,100 and am sitting at just -$1,352!
Pay off Credit Card #1 (-$495).
I’m down to -$352. Meh! Better than nothing.
Save +$50 monthly in RRSPs.
Another auto-withdrawal. Done.
I have lowered my original debt by approx. -$4,200 (from just over -$28,000 to less than -$24,000) in just 7 weeks! Even though it looks like I could easily accomplish these goals by my original date of September 2, I forgot about one thing: my upcoming tuition payment. I have to pay school -$705 by September 1. In order to do this, a few of my original payment dates need to be switched around. So, with your permission, I am going to change my end date to September 16! (Or… is that cheating!?)
At this point, I just want to (re-)mention one thing. A lot of people ask how I have been able to pay off my debt so quickly. Please remember, I am living at home and not paying any rent. In the fall, I will be moving back out, and will probably pay anywhere from $700-1,000/month in rent, so everything about my debt repayment plan is going to change… until then, I am taking full advantage of the opportunity my parents are giving me!
Have a great weekend, friends xo