I came around here yesterday with a tiny little bit of a frustration and I never have any shame on expressing that desperation on my blog. And that is what nourish my bones and Acadian sexy flesh. There will be just no end to it. Nourish my anger, and you'll nourish my soul. And anyway, I am now totally sure that I will be able to easily pay off that $4 800 BMO credit line very very soon.
I already received the $824 generate by the selling of my KEG.UN shares into my margin account. So I will go tomorrow at the nearest BMO Bank and proceed with the payment. From a $4 800 balance, I will go down to $3 976. $3 976 is still a good amount, it will take me 3 long months before its paid off, April will be the happy month but no worries, it will be done.
After almost a decade pass on investing, why it has become suddenly sooo important to pay out my debt? Check this out:
This is my current budget that cover exclusively my monthly minimum need:
Rent: 615$
Grocery: $200
Internet: $35
Cell: $41
Laundry: $18
Credit card: $50
Credit line: $100
Banking fees: $6
Student loan: $98
Total: $1 163
Look now at what look my minimum budget after all debt is paid off:
Rent: 615$
Grocery: $200
Internet: $35
Cell: $41
Laundry: $18
Total: $909
Between the before and after, its an extra $254 that is save and that can be use for entertainment or any other else...
And its currently very tempting to reach such possible situation. I think I will be good for another full-time employment year, I don't have any feelings that I will be laid off. However, I want to protect myself from a laid off or from any other situation that could happen. It became harder and harder than ever to stay in Quebec and I want to make my move outside the province possible because I won't live in a "country" that doesn't recognize God and doesn't see him as the supreme powerful. In other words, I have enough of those Quebeckers little ass. Also, the fact that I reached the 106k net worth this December 2013 had been a huge push in the butt to pay some debt.
That is the story behind the Dividend Girl turning so suddenly to a Debt Payer Girl.
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7 comments:
Just curious, how are you obtaining 280 dollars in Dividends for Jan when you state you own Canada Bread Company Ltd (CBY): $2 397.50. ?
What am I missing?
Current share price is 71.99. this would mean you own ~33 shares. You would only receive 16 dollars in Dividends, not 280.
Hope you get rid of your BMO credit line balance soon. I am going to get serious about paying down my debt as well this year. My monthly spending would drop from $3000 to just $1000 if I had no debt lol. Let's tackle our debts together :)
Good idea!
I earn $280 from the special dividend of CBY you don't need to know nothing else.
Hi Liquid,
Good luck to pay of your debt. Paying debt is a long and annoying process.
Dear Sunny, Good luck with paying your debt. I know you can do it!
Don't forget that for every dollar you pay down, that's a small percent of interest that you'll NOT owe a dollar next month.
You can think of debt paying as a kind of yield chase but in the inverse.
It might help make paying down debt easier to swallow.
thank you for the clarification on the special dividend. Was not aware. "I don't need to know 'nothing' else? " - Not sure what you mean by that, but, okay?
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