Here is the breakdown of $579:
- $200 to RESPs
- $50 added to jars for clothing and gifts
- $50 added to what I put in the boys' expense account each month
- $279 goes as a lump sum on my vehicle loan.
Well not quite.
Before I start on this, I want to set aside $1000 for my vehicle plates (basic insurance). Currently I have $87 a month taken off each and every month, because, well, who has $1000 to pay it all at once for a year? In SK, the prices are set by the provinical government for this, so there is no shopping about to get a better deal. It is what it is. I'd really like to break the /month cycle if I could. It costs more when you pay per month instead of all at once, and I'd just like to know I have the security and personal fortitude to make this happen.
Now honestly I don't know that it is exactly $1000. Prices go up every year and they send you a statement the month it is due (Aug for me). I called to see if they knew about how much it would be and was told it was far too soon to know that information. I tried looking for my notice from last year which has the price if you pay all at once, by month etc. but do you think I can find that one??? nope. le sigh. bad paperkeeper jolie!
By my reasoning if I currently pay $87 a month x 12 months then this route is costing me $1044. Since paying all at once is cheaper, it stands to reason that even with a yearly increase, I should be pretty close with my $1000
So as soon as the consolidated/personal loan is paid off, I will put $279 plus the $50 I plan to put in the boys account, all towards this new goal...tucked safely away in my savings account. I currently have $80 in my budget line, so I will add that too, plus any snowflakes I get. That gives me a minimum of $409 going in there per month. With a few snowflakes tossed in, my hope is to have this $1000 by end of May. Then I can start the full above plan by end of June.
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