My debt situation in date of November 9, 2010

9 671.43$ at 4.75% (RSP credit line) = 459.39$ in annual interest
4 900$ at 4% (credit line) = 196$ in annual interest
7 957.05$ at 4.9% ending in April 2011 = 389.90$ in annual interest
4 911$ at 8.75% (credit line) = 429.71$ in annual interest
7 943.01$ at 5.50% (student loan) = 436.87$ in annual interest
10 000$ at 7.27% (credit line) = 727$ in annual interest

TOTAL: 45 382.49$
TOTAL in annual interest: 2 638.87$
[In date of November 9, 2010]

I am only missing 9 153.28$ to reach My first 50 000$!

Today was quite a fun day as I was off all day and I really enjoy my free time. It was still cold in Montreal, but the sun was out. I wake up late and went… shopping! I might had spend 250$ or so lol. Among other stuff, I purchase a nice pair of Nike running shoes. They are black with a bit of pink, very comfortable. I was really in need of a band new pair as my feet were hurting on my old shoes lol. This day off had been so much fun that I was thinking about taking Sunday off on each week – for the whole summer. Which mean I will work 5 mornings and the whole Saturday for that job. As for the evening job, there’s ups and downs, but I decide to stop worrying for now and just take whatever come by to me – a lay-off (again?! lol) or not. I am just that tired.

I am now confident – I might be able to reach my first 50 000$ in investments by the end of 2009. Of course, I have a bit more than 16 000$ in debts, student loans for the major part, as 1 000$ had been borrow to pay my taxes (that will be done and completed by tomorrow) and also a 5 000$ on my credit line that I use for leverage (another good idea of mine). After my first 50 000$, I will focus on paying my debts.

My real overall value is only of 24 227.03$ (40 855.02$ - debts of 16 627.99$) but I plan to catch up later on about debts. For now, investments are too much fun and I really want to invest in the Energy Savings Income Fund (SIF.UN).

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?