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Tuesday, February 10, 2015

I am now debt free

Or almost... I had paid off my CIBC Visa and BMO MasterCard. I no longer have any student debt or any credit card debt what so ever... The only debt I have is invisible. It doesn't appear on my credit score. So what is that debt? Its my margin. Even if I have a margin debt of $68 282.49, it doesn't appear ANYWHERE. And banks just keep sending credit card balance offer over and over again. It took me such a long time to pay off my debt, its not anytime soon that will enroll in a loan or any kind of debt.

Eventually, I would like to see my margin usage go under the 60k. I hold Glentel Inc. (GLN) inside my TFSA and non-registered account. Since BCE acquisition of Glentel had been approved, very soon, I should have some new cash flow.

At less than $80 per share, Royal Bank of Canada (RY) look pretty attractive. I am surprise to see that even with a TSX at 15 000 points up, RY still trade way below the $80 per share.

I am watching my expenses, like I watch movies here instead of paying $12.99 to go and I didn't purchase new clothes in a little while. And I am trying not to spend too much. My non-registered portfolio close the day at $139 904.77. Can I make it at $140 000 by the end of the week? I hope so.


6 comments:

Anonymous said...

Great accomplishment!

Liquid Independence said...

Congrats on being debt free! Margin debt is secured against stocks so there's no worries there. Thanks for the movie link. I'll have to bookmark that. :) Happy early Valentines day!

DivGuy said...

Cool! Congratulations on being debt free, that's something to celebrate! ;-) Keeping a low margin is quite a challenge, but I'm sure you'll make it!

Anonymous said...

I always get a chuckle out of people who say they're debt free but still have debt.

Dividend Arena said...

Nice work getting rid of that debt. Lower that margin and you'll be golden. I'm sure you'd rather be investing the loonies rather than paying off debt but it will be better in the long run. Good luck and happy Valentines day.

Tad759 said...

Well Done!!! I found that my financial life shifted profoundly after becoming Debt Free. It will change how you look at things about provide a Freedom that most people have no knowledge of. Congrats!!!

 

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