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Wednesday, December 5, 2012

A sexy girl on a budget. Its not that bad after all. Find out why.

My first 2 days on The $100 Challenge went well. I brought my lunch and only bought a medium Second Cup coffee (my favorite) during my hour long lunch break. I wanted to begin the challenge Monday, but Monday morning, what happen? I forgot my lunch at home. Eating out for lunch can be very expensive. You’ll spend around $12 on a meal + add the morning coffee AND the afternoon coffee, it make quite a bit of money on the long run. In my case, my expenses have been a mix of eating out and purchases, movies, and a whole bunch of stuff that I am pretty sure you don’t want to hear of. Not to mention that I went to New Brunswick back in the last days of October. I need to stay away from junk and I will just look sexier. I am doing something I haven’t done in a time: drink water. I cut some trench of cucumbers and but some in my glass. I read on the Web that it could be good for health. I haven’t been much conscious about this, but I am not drinking enough water. I drink coffee often and tea, but not only water or barely. And according to Annie Brewer, drinking water helps lose weight and improve health. Getting rid of 5-10-20-30-40 lbs LOL will make it just easier to fit in my outfits. Add to the water, the cucumbers give it a great taste. I also read about adding strawberry in could be benefit.

I know you love me and my body and I would like to let you know that the first 2 days of the challenge went well, 17 days left to go. Following what, I hope to stay this way and never fall again on an expensive mode. It should be easier after the 17 days period. And it will be easier because I quickly want to pay off the money I am borrowing on my 1.9% credit card to pay off my RRSP loan. I have a goal now. And investing goal was too large has I have been investing like forever now. For once, I decided to pay off m debt. But just the RRSP loan. I got a reader who writes to me “grow up and pay your debt”. Dude, what’s your problem? 

All the debts I own are giving me a tax credit, at the exception of the RRSP loan. It’s the only reason why I am paying it off. 

I just have the credit card balance transfer. Tomorrow lunch time will be busy. Its tomorrow that I am going to pay off my RRSP loan! It will allow me to keep an extra $80 in my pocket. My RRSP loan was $108 a month. I used to have around 8k debt on my TD Visa at 2.99%. The monthly payment was at $28 per month. Now, that I have double that amount because I used my TD Visa to pay off my RRSP loan, the monthly payment for the next 6 months will be of $56. Those changes and many others are from my revisited budget.

Since I unfortunately have to move back to Montreal to find a job, I qualify to receive the Quebec Solidarity Tax credit. I am about to be permanent on my job sometime next week, so I guess it could be a good idea to see how I can received the credit. I calculate something like $30 a month. Not that much, but when you are trying to live on a tight budget, any extra cash is always welcome. I used to get as much as $50 from the Quebec Solidarity Tax credit. But now, they are giving away much less. And knowing how much Quebec has debt, they shouldn’t be giving any money away.


Aeron said...

Cucumber is really good and hydrating, also if you want really soft skin get as much fruit as you can.

Anonymous said...

Dude has no problem. Debt is the reason the world is in the state it is in. Hey if you are happy paying others to borrow their money and it works for you great, but not using others money can put more in YOUR pocket longterm - as i mentioed on another blog that was talking about "good vs. bad debt" You can wrap it or spin it however you like, but you are still paying someone to have their money. Do not think of debt as good or bad as the bankers and advisors want you to think of it – Remember they are in it to make money for themselves and ultimately the bank/shareholders. Teach yourself to think of it as paying someone for the privilege of borrowing their money… does it make you want to pay it faster now when worded that way? It should, unless of course the math works, as the only way debt works is through the numbers. Say I have $1M in an investment account making 7% annually, paying 35% tax rate, and I want to buy a new car – should I use my money to buy the car or would it make sense to grab the 1.9% financing option? Don’t think of debt as good, bad, positive or negative, just do the math and you two can be among the 1%. Take it from someone who managed to retire early in life. Cheers - Phil


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