Job job job

It's now the end of March and I did a few things that need to be done for a while, like paying my credit card debt, by just hoping I will ever again have credit card debt.

Everything is going fine at my full-time job for now. It will be my 5th month there and so far so good, I plan to stay there for a while, since I make an average of 1 000$ paycheck every 2 weeks. And that income is after deductions.

But things are not going that smoothly at my part-time job, as they cut me again from work. When I call to give my hours for next week, they told me they didn’t have work for me anymore. I work there for about 7 months last year. They had a major slow down on January, but in March, they email me, saying I could work for them during evening and weekend if I wanted. I couldn’t work during evenings because of my full-time work, but I told them I could work on Saturday and Sunday...

And now, we are the end of March, and they are telling me I won't be able to work for them anymore... I am very upset about this, as I believed I could work on weekend for the next couple of weeks for them. Anyway, let say that, once again, my search for a part-time job continue. I just need to get over this and stop working for them and go on with something else. I am willing to do anything.

I began my search last week, I applied at 2 jobs. The 2 places were interest, but one is on evenings only, witch I can’t because I already work on evening at my steady job. The second one seems to be ok for now, but the thing is I got a hard time to get in touch with the recruiter, since I only have a pager. I return the calls, try to reach him a couple of times, but I wasn’t able to reach, which is very frustrated. I just hope I will be able to reach him tomorrow morning and hope that part-time job will work out.

I hit the magic 1 000$ on my pay check....

I work 100 hours in 2 weeks, but it had worth it, I just receive a little bit more than 1 000$ as pay and I really appreciate it. I am going to be able to pay 1 000$ on my credit card. After what I will only have left 1 300$ to pay. I plan to pay another 1 000$ next month, and the other month, 300$. In another 2 months, I will be done with this credit card debt. Finally!

I could pay it all immediately, but for security reason, I prefer to pay a little by little. And a 2 months basis is a good schedule. After what the next money will be put for RRSP.

I just refresh a little bit my blog. I believe it look better this way rather than the all pink blog.

My first 10 000$ credit card

I just received last week my first credit card of 10 000$. I received it from RBC. RBC is like my favorite bank right now. I don't plan to use that credit card. The interests are very high, 18.9%, just like my CIBC Visa that I currently used for my regular purchasing. I will leave that credit card in my drawer. I use it to buy everything, from groceries to the latest biography of Brian Mulroney that I just met today at the library Renaud-Bray in Montreal... lol

The Visa Caisse Desjardins offer a credit card at 9 and something percent interest. I ask for a credit card with RBC because since I have more than 5 000$ with them in mutual fund, with a credit card, I can have a free bank account and a special account where I can buy my mutual funds by myself. I will no longer need to get through a representative, which is great, because every time I went to buy a fund that I really want and that I am excited about, I am having problems. Representatives have to respect different % in the mutual funds you buy, so you cannot always have the funds you want. It's the rule, but let's breaks them and makes things on my own little way.

For example, the first fund I buy was RBC O'Shaughnessy Canadian Equity Fund. I gave 2 000$ on that first time. Later on, I put another 1 000$ in the fund, just before it's close to new investments. After that, I wanted to buy the RBC Global Resources fund, but I was told I couldn't. Anyway, it gets very annoying and last time I went to RBC, I had to buy a US mutual fund so I could buy my Global Resources. I had too much put in Canadian funds I was told. But yeah, Canadian funds aren't the best of the word? I believe they are.

I hate my RBC O'Shaughnessy International Equity Fund and my RBC U.S. Mid-Cap Equity Fund C$. I will get rid of those as soon as I can. For one, the International Equity Fund, the 90 days period is over so I can sell it whenever I want. But in date of today, the initial 1 000$ I invest in it only worth something like 971.14$. So I won't sold it now, I don't want to loose any money. I just hate the situation. I dislike International Fund. I also have distinct fund that buy at Manuvie and unfortunately, I have buy also there International distinct funds and I have to say I regret. I know I have to buy something else than Canadian fund, but International and US funds are just not that great. I also plan to get rid of my US fund in Canadian $ as soon as possible. But for that fund, I have to wait for 90 days or something like that before selling it. It's really killing me.

I am interest in China, Latina and Precious Metals Fund. RBC should offer China and Latina Fund. I have an eye on the China Fund of HSBC. The one of BMO seem to be great to. For Latina, CIBC seems to have a great one. Also TD.

Now that I have a RBC credit card, I just need to fix an appointment to open a bank account and the other special account, all for free. But that can wait, I don't need it now. I still have money to invest, but I am too busy with other thing for now. I just can’t wait for my first 50 000$. When I will reach my first 50 000$, everything will be a lot easier because the amount of money made on the 50 000$ will be a great return.

Update regarding my credit

I have been working very hard those past couple of weeks. I did a few thing that could have make things bad for my credit, but I do not care that much. I don't plan to buy a house or condo anytime soon. I believe my credit record will be fix one of those days. I never get my credit check. It's the neck thing I have to do on my list.

Credit update:

Consolidation with AE at 7.99%: 2 200$
TD Visa: 0$
TD line of credit: 0$
CIBC Visa: 1 600$

I have 3 800$ in credit debt.

I just make the minimum payment on my CIBC Visa last month because I wanted to keep my money to buy new mutual funds at the Royal Bank. I have put 4 300$ in investment in August. I plan to make a payment of 1 000$ on my CIBC credit card. I am also planning to close my TD Visa because of the financial fees. The credit card debt should be soon be lower, at 2 800$.

My basic monthly expenses

Rent (all included): 400$
Metro pass: 65$
Minimum payment on student loan: 158.54$
Minimum payment on credit cards: 100$
Living expenses: 500$

Total: 1 223.54$

Overview of my financial situation on date of August 13, 2007

Debts:
Student loans: 12 369.03$ at 8.750 %

Credit card debt:
AE: 2308.66$ at 7.99%
AE: 11.50$ at 18.50%
TD Credit line: 56.64$ at 10.50%
TD Visa: 19.58$ at ?
CIBC Visa: 419.47 at ?

Total credit cards debt: 2 815.85$

TOTAL DEBT: 15 184.88$

RRSP:
Total of money put in my RRSP so far: 9 042.96$

Non RRSP investments:
Money put in non RRSP investments: 6 100$

Savings:
ING Direct: 288.76$
Savings: 11 325.73$

Big total (RRSP + non RSP investments + savings - debts) in date of August 12, 2007:
26 757.45$ - 15 184.88$ = 11 572.57$

Almost there…. I am half away of my 50 000$ and I think I can easily get there. Why? Because I am a hard worker and I have really few expenses. In 3 months from now, in November 2007, I believe I will have a total of 33 000$ in cash flow. With all that money, should I pay my debt or invest the money in mutual funds?