as of February 5th
DEBTS
Mortgage - $37 802.80
Consolidated Loan - $2 796.03
Vehicle Loan - $26 310.13
Total Debt - $66 908.96
SAVINGS
EF - $1250
RRSP 2010 - $200
Summer 2010 - $1000
Xmas 2010 - $220
RESP - $200
RRSP 'portfolio' - $1000
Total Savings - $3870
So I have managed to reduce my debt over the past month by $1840. The mortgage moves at a snail's pace but the faster movement of the consolidated loan pleases me. This will be finished before school is out this year. happy happy!
The savings setup looks a bit different. I have moved last year's RRSP savings to a sadly and loosely called 'portofolio'. I haven't went to the bank yet for that, but that's how I will think of already invested moneys in future years. The RESPS are new as well and teeny, but a start and that makes me very happy.
The rest of the savings keeps ticking along. As I've said before, I think I willl just let that EF grow by $50 a month unless something comes along to hinder that. Right now my extra money needs to go elsewhere. Christmas should be funded by summer and then I will put that amount towards summer 2011...then back to Christmas. Hopefully it works out.
It is very interesting to be in a place where the LIST of debt items is smaller than the list of savings items. I was never in this place before I started this blog, starting becoming a fan of Gail and Til Debt do us part, and started being a grownup!
Not Much Working Out Monday
3 hours ago
5 comments:
You are doing awesome! That must feel great - your debt list being less than your savings. Summer will be done before you know it!
the is amazing!!! What a great debt payoff amount!!!
At least the morgage is a 'good' debt so it moving at a snail's pace is ok! Good debt sounds like such an oxymoron!
And congrats on getting the RESPs set up! I'm sure your kids will be greatful! And there's nothing stopping them from helping out and contributing to them if and when they get their own PT jobs, right?
The RESP might be a small pot now but you're starting them now which is great. They'll help your children's education but there are many other avenues that they can pay for themselves no? Provincial loans and saving money themselves?
Thanks everyone!!
They probably won't qualify for Gov't loans, but that is something I will have to explore in a year or two.
The oldest is ready for a real part time job but finding one that will fit around his schedule is a challenge. Something we will explore for the summer. But then the question is does he save money for his Education, or does he foot his own fuel bills as he will get his license this fall?
I hate juggling LOL I always drop the balls.
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