Pay Day 16

Total applied to LOC:                          $1364.40

LOC Balance as of today:                   $5678.72

Can I tell you how tightly my fingers are crossed that nothing will happen in the next 6 weeks to slow my progress? They are TIGHT.

I’ve been working on taking 5 minutes-or-so a day to send out positive vibes to the universe for advanced gratefulness for all the goodness that I am working on and will be coming my way. It’s something that I heard/read in Jen Sincero’s book (and e-book)

Hokey? Maybe, but I’ll be honest that I think it might just be working. And trust me, this is no organized super-spiritual thing going on – in fact, it sounds a little like this:

“I am grateful for everything coming my way this week – grateful for the offer we will be able to put in on the property this week- grateful for the help from X to put the offer in this week”.

Over and over again, sometimes while driving in the car. Yep, I turn the radio off and just thank the world for all that is coming my way and all that I have.

And so this week, I’m working on this pseudo-meditation. If all it does is focus my efforts, then it has to be a good thing. Being grateful for having the luxury of enough money to work with and provide a good life is definitely part of that. And yes, I’m on a high after regrouping from Februarys steps backwards (and, truthfully, the weather change and move to bare feet helps).

It might be the change of seasons, but I’m feeling more positive and optimistic about all that is yet to come this year than I have in some time. Yay!

So, here’s to a spring full of blooming opportunities..and tulips!

 

 

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Pay Day 15 (the one after the extended break)

Total applied to LOC:                              $1200

LOC Balance as of today:                   $6799.99

Applied to Emergency Fund:                   $1000 – I’m mentioning this because the fund was depleted, past $0, in the last few weeks. Cars, ugh.

Ok, deep breath and reset. Here. We. Go.

Making steady progress with the $1200 payment to the loan, refurbished emergency fund and still with some $$ in the bank. Feeling a little more stable than I have in a couple of weeks.

That instability was unsettling – I hadn’t felt that since before I started this journey. At Christmas this year, I mentioned to my partner-in-crime how great it felt to a) have a great Christmas and b) have paid it all in cash. This was not how I had done Christmas before, and man does it ever feel good to give when you have something to give.

However, just like the 20 degree weather 2 weeks ago (oh my – the bare white skin that was exposed by the ever-so eager Canadian!), against the -10 weather and snow squall today (WHERE are my mittens?!), the $2600 car repair bill in the last 2 weeks was a sharp reminder that I’m not yet out of the woods and am perilously close to losing all that I have gained in the last year.

This appears to be a theme for me at the moment. Last November I attempted my 3rd full marathon…attempted and failed. It was devastating, a true-setback in my mental well-being and confidence in what my body could achieved. I had put the training in, felt great (and a little emotional) on the morning of the race, the weather was perfect, the course a net down-hill – this should have been a PR in the making.

Alas, it was not to be. I’ll leave out the details, but in short my stomach could not stomach the race. After the first aid team circled me asking if I was ok, and I faked a very optimistic ‘YEP!’, I hit the next aid station and called it quits. Cried in the pick-up van on the way back to the finish line. Cried when I saw my boyfriend…and then cried when I saw my parents who had come to surprise me at the finish line of what should have/could have been a PR. That sucked.

After licking my wounds for a few days, making grandiose suggestions of ‘never again!’, I couldn’t resist the pull of my running shoes. There they sat, looking at me like forgotten puppies. They had done nothing wrong, I had done nothing wrong. That day was just not my day. And so, I re-set. And am still re-setting. Content(ish) to go back to half-marathon distance training and races. It works in my schedule, my commute, my family life. And still achieves my goals of being fit, healthy and achieving personal targets.

And so, just like the training, my debt repayment hit a blip. Delayed my end-date, moved my target, and made me re-think the goal. Which, as it turns out, is still the goal. This is good news, and so all I have to do is re-set the training/debt-repayment to make the goal. So easy!! (hahahahahaha!)

As always, the reminder is to tell your money where to go, and then make sure it goes there.  

Left foot, right foot, repeat until you hit the goal.

 

 

 

 

2 steps back yadda yadda yadda (+a net worth update)

Let’s get this started.

The numbers:

Total applied to LOC:        $7208.82 – this is since the last update in October 21

LOC Balance as of today:  $7999.99

Car Loan:                               $0 – the car loan balance was moved to my line of credit..no, not for the interest (because it’s going to sit there for so little time the interest doesn’t matter, even though it is lower than the loan), but because making random payments is easier to my LOC as it is with my bank and easily accessible via online banking.

This is a disappointing post to me for two reasons:

  1. It’s been so long since I’ve updated and I have made amazing progress since then.
  2. That progress has been hampered by a $2600 bill for car repair  in the last week

I had myself scheduled to be 100% debt free at the end of March, and now if I push it’ll be the end of April. Yes, that is great, but I still feel a little disappointed. But, at 215,000kms my Ford Edge has treated me well and so it’s about time I treated it well since it is the last debt and I’ll be keeping the car for as long as possible.

My net worth is still tracking along, but took a hit with the extra car costs too. Thank goodness for emergency funds, rental house income and health benefit returns!

Drum roll please……

Networth as of today: $128,961

This is more than $50k above my last posted networth. Badda BING!

And this is why I should have been writing all along. Seeing the numbers in black and white, the progress in black and white, makes the small step backwards this week just a little less painful.

So, I guess that means you should see me here more often in the coming weeks and months!

 

 

 

 

 

Pay Day 14. (the one where the balance is ZERO)

Yeah, you read that right. ZERO. Holy wow have I ever day-dreamed about this day, the riches I’ll have! The things I’ll be able to accomplish! The weight that will no longer be there!

The numbers:

Total applied to LOC:        $2929 – Not all in one shot, mind, but this amount has been            applied since Payday update 13.

Current LOC Balance:       $0 BABY!

Progress on LOC to date:  $14,607 – in the past, done, evicted.

Car Loan:                               $13,133.33 -Less than the debt paid so far, so we know that it can be tackled.

There’s a sense of momentary relief, of accomplishment…. and then a slight weight when I think about digging into the car debt.

It’s like when you’re running a series of hills, and think you’ve reached the top and only at the top do you see the next hill. You have to do it to get to the end, but you’re sure not excited about it.

What I have to recognize is that, coupled with the credit card date paid off in the first few months of this year, I’ve paid over $17,607 in debt this year. That’s a lot of hills climbed, right?!

Have I ever told you how where I live is the flattest area in Canada. No hills. So, I don’t like running  hills, and I’m not that good at it. But I do them anyways.

Same for paying off debt, I guess.

The next couple of months will be a challenge, if only to stay on budget during the run up to the Christmas season.  Slow and steady, I’ll get to the top of the hill and coast on the way down – it’s got to be easier on that side, right?

Pay Day ep. 13 – hustlin’ and strugglin’

Here’s what I know about me: no matter what the distance I’m running, the final 3 km are the worst. It’s true for a 10km run, and a 42.2 km run. Because I know this about myself, I’ve worked on strategies to overcome the negative thinking that tends to rear it’s ugly head at this point in a run.

I tell myself ‘just go 100 steps with your left foot, and then you can rest’, and then of course at 100 steps I tell myself ‘well you did that, try 100 with your right foot, then walk’.

I negotiate running 10 telephone poles, then walking 1.

I myself offer treats (fuel!) at the next km mark.

Inevitably, I get to the end. My mental game has become stronger over the years, and the more I talk to other runners the more I realize that a) I’m not the only one who feels this way and b) they have strategies I can use too.

When I hit ‘transfer’ on last weeks payment, I was overjoyed to see the LOC balance under $3k. And then I realized, it’s the dreaded ‘3k’.

So here’s where I need to engage some jedi-mind tricks to get myself to the end of this particular debt. Because right behind it is another one I have to tackle, so stopping now isn’t an option.

So I’m asking you – what’s your strategy to stay motivated when you’re so close to the goal, but it feels so far away?

So far I’ve come up with:

  1. Focus on the fact that it’s just 2(ish) paycheques to go until it’s done
  2. Get a side hustle – shopping for an audi just got me $80!
  3. ….yep, it’s a little on strategies right now. So…help?

Just like long distance running, it’s a work in progress.

Before I go, the numbers:

Total applied to LOC:        $2350

Current LOC Balance:       $2929.90 -UNDER $3K TO GO! But, oh! 3k, so I’m not done yet?

Progress on LOC to date:  $11,678 – holy cow that’s a lot of money, if only I had spent it wisely 😉

Car Loan:                               $15,662.64 -This morning’s thought: I should transfer the loan balance to my LOC so that I can pay this off faster and more easily through direct account transfers each pay day. Thoughts?

 

Pay Day ep. 12 (I’m still alive!)

So, hi! This month has been awesome. With a full week on the boat, and a mini-girls weekend this past weekend, I’m feeling (somewhat) rested and relaxed. Summer reading list was attacked, sleeping in was achieved, swimming with kids and being a general goof all check-marked off the to-do list.

AND – I’m still paying off debt. Did you think I forgot? I really didn’t! I missed the last update, but progress still happened!

Total applied to LOC:        $750

Current LOC Balance:       $5279.90 -Not quite the progress I wanted, but I pulled back a little on this payment to make sure I had enough for our holiday. And we did – all paid in CASH.

Progress on LOC to date:  $9,328 – double digits are coming with the next payment. Yeah, baby!

Car Loan:                               $15,662.64 -It’s still there, it’s still in the cross-hairs.

With school, September and everything-pumpkin-spice looming, I’m all gung ho to get rid of the LOC, clean up house, purge what we don’t need, eat healthy etc. etc.

Here’s the drop date on the LOC  – October 7th.

It will mean some serious focus on sticking to the budget, finding fun in the free stuff, and keeping the goal in mind.

4 payments of $1250 each. And then  – BAM- no more line of credit.

My payment this week is a little delayed, as I have been putting my rental property income towards the debt and this doesn’t’ come until after the 1st of each month. To keep honest, I’ll update when it’s applied.

I’m considering taking just a one-paycheque break after the LOC is cleared as some celebration breathing room. Can I do that? Did you do that?

Till the next updated, I’m enjoying the last few days of summer – hope you are too!

 

Pay Day (ep. 11) – the one where holidays are adding ($$!!) up

Don’t worry, we’re still making progress. But with the hot months, day camps, boats in the water and working to make the most of it all, my July expenses were DOUBLE March…and April, and May!

I get that we do more ‘low cost’ stuff during the winter. In our house, in this part of the world, we hibernate, work on projects on the house, train for races coming in better weather, entertain at home and read more during the winter. And my spending reflects that.

Summer? It’s like we drop all common sense and, because our summer season is a short 10 weeks or so, just figure ‘eh, go for it!!’. After looking at July, we went for it A LOT.

We’ve already coined this winter as the ‘winter of discontent’, also known as the winter of ‘NO’. Till then, we’ll make hay while the sun shines and the weather is hot, hot, hot.

The numbers, although showing progress, indicate that I’m a little behind plan. Meaning final pay off may not be till October, not September as hoped. C’est la vie, I’ve got to little a little too, right?!!

Total applied to LOC:        $1245

Current LOC Balance:       $5999.23  -see what I did there? Just couldn’t resist pushing the budget a bit to get it below $6k 🙂

Progress on LOC to date:  $8,5778 – man, that feels chunky. That’s a needle move!

Car Loan:                               $15,662.64 -ugh, I want this to MOVE. I’ll update the balance on the day I make the last payment on the LOC.

Pay Day (ep. 10) – double digits , baby!

Does it count as a celebration when I reach 10 pay day updates? I feel like it should. 10 Pay Day updates is 10 very deliberate steps towards paying off the dumb debt, 10 very deliberate days of planning for the future, 10 very intentional moves towards being in control of my finances.

10!!

I’m excited, can you tell? I think I can see the faint glimmer of light at the end of this particular dark tunnel. And while the light will be brief, as I dive into paying of the car next, even just a little sunshine can keep me going.

Total applied to LOC:        $750

Current LOC Balance:       $7,206.69  -totally flew by the $8000 numbers and dove into $7K(and change). I don’t know why, but this feels like a milestone to me.

Progress on LOC to date:  $7,333 – over half-way!

Car Loan:                               $15,662.64 -your turn is coming, car, don’t get comfy.

 

Pay Day (ep. 9)

Two days late, but not because of a lack of focus. With Canada Day on July 1st, both income and automated expenses were a little delayed – and I didn’t want to report on payments that weren’t yet showing in my bank account. I’m very wary of karma coming to bite me in the butt if I report on numbers not yet showing!

Total applied to LOC:        $1300

Current LOC Balance:       $7,956.69  -totally flew by the $8000 numbers and dove into $7K(and change). I don’t know why, but this feels like a milestone to me.

Progress on LOC to date:  $6583 – guys, I am THIS close to hitting the halfway mark on this stupid debt!!

Car Loan:                               $15,662.64 -I am so itching to change this number!

I’ll admit that my original plan was to throw $1500 at the line of credit. But, with a vacation planned this coming weekend (a relatively frugal weekend on the boat – camping, with water), I wanted a little more cushion just in case. The aim is to spend very little of the $200 cushion, and whatever remains on Tuesday morning when we get back will head directly to the LOC.

Sometimes, ice cream on holiday just has to become the major priority.

Pay Day (ep. 8)

Whew, it’s getting hot out there! Grab a cold one, let’s look at the digits:

Total applied to LOC:        $750

Current LOC Balance:       $9,204.44

Progress on LOC to date:  $5,283

Car Loan:                               $15,662.64 -it’ll sit that way until September or until I reach the end of the LOC debt and start to attack the car debt…whatever comes first! (oh man, I gotta push for the latter scenario!). There’s only 5 pay days until September (bummer – why am I already counting to the end of summer?). So it’ll be a focused effort to make the milestone.

It’s a 3-pay cheque month next month (yahoo!), so I’m already planning to see more significant movement of the debt needle. Also, we’ll be on vacation for a portion of the month which, weirdly, means spending less.

With a floating cottage and no commute to work, we live a simple fun life on our summer holidays. Think: swimming in the lake, bbq’s on the beach, drinks on the back of the boat looking into the sunset. It’s a great life, and pretty easy to do without breaking the bank.

As summer becomes a welcome reality, and schedules get more loosey-goosey than ever, I promise to keep the updates coming. They may be small, like this one, but will keep me accountable to myself. If I slip up and buy too much ice cream, it’ll show in the numbers – both financially and on the scale!

So here’s to rolling down the windows, turning up the tunes, sandy feet, sun-kissed shoulders and enjoying life for what it is without breaking the bank to do it.

What does your summer hold for you?