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Monday, January 13, 2014

My American Express card balance is now 0$

I am quite happy because the year 2014 is starting on a positive note. I have paid off my American Express. The minimum monthly payment had went through just a week ago, so the amount needed to clear it off completely was $2 284.19, and its now paid off! I have an extra income coming from work, so I was able to pay it all in fresh cash, without touching any dividend income.

I have sell my Keg Royalties Income Fund (KEG.UN) investment, which was from my TFSA. I decided to sell because I was getting anxious about it, and I can no longer lose money on the market. I now have an extra $824 to pay off my debt of whatever else. And I am actually now thinking about my BMO credit line.

I had forget to pay the line in December and I get a call from BMO on Friday early morning asking me what happen and why it wasn't paid off.... It was the first time I was skipping a payment and I just forgot about it. The BMO representative was laughing stupidly over the phone. So I taught: to myself: your F Quebec idiot, you'll see what you'll get! I AM GOING TO PAY OFF THAT BMO CREDIT LINE and BMO won't have any of my business anymore. I even received a telemarketing card regarding my BMO MasterCard and guess what: I was asked to confirm the last 4 digits of my credit card over the F PHONE! I am not an idiot. I am not a F Quebecker. I don't like telemarketing calls. BMO always had been crushing and pushing too much sells, here's another example. When they don't try to sell unneeded credit insurance, it's something. BMO is not a serious financial institution. BMO staff are only a bunch of suckers.

I never injected more than the minimum payment on that credit line because the interest rate was so low (less than 5%). And more than that, I withdraw, each month, the amount left available. So in a way, I am not a very good payer. Depending of what my margin look like, I could possibly inject December and January dividend monthly over the credit line. And I could possibly get this credit line paid off very quickly considering that my balance is right now of $4 800 and that I have at my disposal a fresh $824 to inject in it. So go figure. I won't let any Quebeckers have the last word on me. GO TO HELL QUEBECKERS. 

Other than those Quebec idiots, I also have my student loan, but its not in my plan to pay it all quickly, unless my Loto Quebec Celebration ticket make a millionaire out of me tonight! (I am updating a post I began to write this last Friday, but I didn't even check my Celebration ticket.)

Now that my American Express is paid off, I only have left my CIBC card. I have a 0% interest for 6 months - it will expire in May. I plan to put some money on my credit line and once May come, I will pay off my CIBC Visa... 

From now to May, all my money moves are all pretty much set up. For May to December, its more than $11 000 I will have available, so I will have enough money to pay for my student loan. Ans after that, I will leave a 1k on each of my banking account to avoid the fee and following what.... I won't have any credit line, credit cards or student loan to pay, only a good looking stock margin. So I think it can worth the path, even if this mean that I will only have left something like 5k to invest...

Courage, courage. 


Anonymous said...

Way to grow up and get rid of those debts! You have come far from when I first started following your blog. I'm proud of you for understanding that a clean-up was in order. Part II will need to involve a review of some of you holdings, and then you will be fully back on track. Congratulations - cheers.

Anonymous said...

Congrats Sunny. You have started the year so well!
We always enjoy your blog and hijinks ")
viva La Dividend Girl!

Anonymous said...

You are doing great, Dividend Girl! Your plan is working.

F those Quebeckers, and show them what you can do.


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