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Tuesday, July 20, 2010

Warnings about credit card balance transfer and garbages

From what I see at this time, my non registered portfolio is now at 49 087.63$, an increase of 195.63$ compare to yesterday! Those are good news! My vacations are going smoothly by. I actually clean my little one and half apartment today. I had many things in my freezer and fridge that were not good anymore so I finally throw them away. I got the good idea to put all of the garbage bags outside my apartment, right at my door, to later on deposit them on the garbage spot, but the concierge wasn’t too happy with my choice lol. Like I am never thinking... But you know, a one and half apartment is quite small when you have several garbage bags lol…….. It’s kind of hilarious in a way. Anyhow, I apologize, told her I didn’t taught. The concierge was actually doing a visit to rent one of the apartments. Other than my garbage, I am a good tenant, always or most of the times pay my rent at time, it’s just sometimes I don’t think lol. Now my apartment is super clean! I spend a good 4 hours cleaning my mess. I was in real need of it lol. After what, I went to do some groceries and took care of my credit card balance transfer. And this is where it’s getting interesting.

For the last couple of months, I had a balance of almost 8 000$ at 4.9% at TD Visa. I had the surprise to see another offer for 6 months at 4.9% at TD Visa on my July statement. So what I did this afternoon is that I call TD Visa to make sure that if I took the 8 000$ and take it someplace else to have it replace at TD Visa, would I benefit from the 4.9% for 6 months? The answer was yes. I really wanted to make this work out so that’s the reason why I call TD Visa.

But I was informed from a couple of things. First, I should be doing those types of transfer all the times because at a point, TD Visa will stop offering me the 4.9% credit card balance transfer. From what I understand, doing credit card balance transfer on a regular basis look suspicious. But it’s not if you pay your monthly bill. Like in this case, I always pay my minimum required. It’s not like I am using the credit card balance transfer in order to avoid paying on my credit card. In my case, it’s only for leverage purposes and also to benefit a 4.9% interest rate for another 6 months. This will drive us through the month of January 2011. Following my calculations and if we’re not going to be attacked by another stocks crash, the end of 2010 should be good for my first 100 000$. And it’s not like I am stealing from somebody or someone. I am just trying to have everything working out and thanks to TD Canada Trust, I am pretty sure my plan is going to work. So as for now, I am waiting for the money to arrive at RBC Visa, which should be in 3 days from now, to call TD Visa again and say: “A credit card balance transfer at 4.9% please!”. That’s how things work! I am just very grateful because if I would had to pay off 8 000$, this would make my goal of reaching 100 000$ by the end of 2010 impossible. Basically, my whole plan relies on just one little thing: credit card balance transfer. I know its silly, it doesn’t make any sense but still, you have to take a look with the eyes of your heart, if you have one, of course.

Second official day of my vacations

Yesterday, I call my little pager, but the message left was quite funny. My daytime job call me, like I was expecting, but they didn’t exactly leave a message. They might have hang up just after hearing the greeting message and there, I hear a: « But she’s on the schedule… ». Yeah, I know, I am on vacations, but I am on the schedule…. Isn’t weird! Anyhow, I didn’t call them back since it wasn’t a real why-are-you-not-at-work kind of call. Fun! Just the problem with the schedule at work is that everything is plan 2 weeks in advance and it happen quite often that people leave on vacations but are on the schedule. I guess they have too much things to take care and updating the schedule of everyone could take too much time. Ahhhhhhhh my lovely daytime job. I am just really hoping to get my vacations pay from them. I need to pay my rent. As you now know, I made an investment yesterday, 100 stocks in Corby Distilleries (CDL.A) – just like it was planned – so I currently have around 400$ in extra cash available. After July 21, the money will go on my RBC credit card, where I have this huge credit card balance of 530$ that needed to pay before July 30, if not watch out the interest! I also need money to cover the 130$ left. I really need to get that vacation paycheck if not; it’s going to be ugly.

For quite some time, I had doubted about this newest investment in Corby Distilleries because I had that lack of work at my weekend job, but now, everything is back, starting from next week so that’s pretty cool. Also, I got that girl from my daytime job who came to me, saying that she was going back to school – great for her – and needed to work part-time to get ready for school and so on. Starting August, I have to work full-time for her so she can work part-time. So this means that starting this upcoming August, bye bye my weekly 30 hours, I will be back working full-time. Working 30 hours per week at my daytime job + Saturday and Sunday full-time was just the dream. Working full-time at my daytime job will only bring around 200$-250$ more in my pockets per month. But it worth it – to help someone in need – and she’s a Quebecker by the way – and also for the money, even as little as 250$. See, I can be nice to Quebeckers sometime. It’s fun to work at my job at this time because we had those new rewards points. I didn’t order yet, I am just confused between the blenders and the earrings lol. Anyhow, we’ll see if I can earn more points by working more but I doubt. Maybe I will be job searching soon, I don’t know either.

I could be seen as being miserable, working at those salaries that only myself know, holding more than 37 000$ in debt. But I had been working at those 2 jobs for almost 3 years now. Next year, I will have 3 weeks of paid vacations at my daytime job. Also, here, you need to appreciate the stability of the situation instead of focusing on the super low salary, even if you don’t know the salary. I had been able to realize my investment projects because I had been working nonstop or almost at those 2 jobs. The investment of yesterday made in the Corby Distilleries is another proof of that. I also realize my chance to live in Montreal. Life is cheaper here comparing to cities like Toronto, Vancouver, among other. I could have a better job situation, its something I am looking forward but at this time, I don’t have anything in mind and I am satisfied the way things are for now, my little jobs, my little dividend earnings and my real huge debt.

He only other debt I need to think of right now is that 1 253.17$ at 3.9% at CIBC Visa. This one is ending in September 2010. I don’t know how I will be taking care of this one. I may apply to a credit line at RBC. Who’s going to help me with this one? We’ll see!

1 comment:

canuck said...

Hi Sunny, me again and have to tell you that i enjoy all your comments. i guess the condo idea fell flat, lol..oh well , an idea as i like a place to call my own ..i used to live in a war-time house with a husband and 5 kids...i loved that little house. anyhow, am still saving for my bell aliant stock,,,the stocks are up


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