My debt situation on date of December 9, 2012

$7 875.45 at a low interest rate of 4.75% (RRSP credit line rates) = $374.08 in annual interest PAID OFF

$4 900 at a low interest rate of 4% (credit line rates) = $196 in annual interest

$7 978.54 on a credit card at a low interest rate of 2.9% (result of a credit card balance transfer) = $231.38 in annual interest

$8 000 on a credit card at a low interest rate of 1.9% (result of a credit card balance transfer) = $152 in annual interest

$6 311.41 at low interest rate loan at 5.50% (student loan) = $347.13 in annual interest

$5 000 at 8.75% (credit line) = 437.50$ in annual interest PAID OFF

$10 000 at 9.30% (credit line rates) = $930 in annual interest PAID OFF

$51 240.65 at a low interest rates of 4.25% (margin money coming from my broker account): =
$2 177.73 in annual interest

$1 827.47 at 0.99% for a year (with American Express) = $18.09 PAID OFF

TOTAL: $78 430.60

TOTAL in annual interest: $3 104.24
[In date of December 9, 2012]

My twisted plan to pay off my RRSP loan and why you should be doing the same

I did it! I had paid off my $7 605.22 RRSP loan debt. How did I do it? It was pretty twisted. I notice a super offer coming from TD Visa: 1.9% on credit card balance transfer for 6 months. My plan was to use TD Visa money at 1.9% to pay off my RRSP loan. I already had a balance of 8k ok my TD Visa, but my card is full. So I requested an increased of 16k, which was accepted.

My RBC Visa was completed paid off, but I entered an order for a credit card balance transfer from RBC Visa to TD Visa. That way, I was going to have the 8k very easily, without having to pay any interest at all on RBC Visa.

BRILLIANT – right? I taught it was the most brilliant idea of all. GEES, I AM SMART.

Well, I went to an RBC branch today (I didn’t have any time to do it earlier this week). So I asked the chita to transfer the money over my banking account. I had tried to transfer the money myself from my RBC Visa to my RBC banking account, but it wasn’t working. Why? Because even with a positive balance on the RBC Visa, the operation is being considered as cash advanced. This mean that even while having a positive balance on the credit card, as soon you withdraw an amount, even a positive amount, an excedant, you pay interest on the money withdraw on the credit card.

OHHH NOOOO!

So I told the chick, I need the money to pay off my RRSP loan. I told her that I was trying to be smart and this was my way to not pay any interest on my RBC Visa.

So she went see her supervisor in the back. The chick return saying that I could use a RBC Visa cheque, that the interest will be lower on the cheque than on a cash advance.

OHHH NOOOO!

I told her, I need the money! I don’t want to pay any interest. I need to pay my RRSP loan TODAY PLEASE!

The same chick calls RBC Visa on my behalf to arrange something. She came back saying that the fees will be reversed on my RBC Visa (YEAH!) and that the only fee I was going to get is a $2 for the cheque (I have big boobs but forget putting a close 8k in my bra!). LOL

Thanks to her, I happily went to a TD branch and I PAID OFF MY RRSP LOAN.

Thank you RBC chick. I LOVE U. I asked her to write down her name on my piece of paper and I am going to write to RBC CEO: YOU HAVE TO PROMOTE HER.

RBC, just continue to give me what I want ok?

Now, I am giving you the right to use the same strategy. GO AND MAKE YOUR BANKER GO NUT.

LOL.

A sexy girl on a budget. Its not that bad after all. Find out why.

My first 2 days on The $100 Challenge went well. I brought my lunch and only bought a medium Second Cup coffee (my favorite) during my hour long lunch break. I wanted to begin the challenge Monday, but Monday morning, what happen? I forgot my lunch at home. Eating out for lunch can be very expensive. You’ll spend around $12 on a meal + add the morning coffee AND the afternoon coffee, it make quite a bit of money on the long run. In my case, my expenses have been a mix of eating out and purchases, movies, and a whole bunch of stuff that I am pretty sure you don’t want to hear of. Not to mention that I went to New Brunswick back in the last days of October. I need to stay away from junk and I will just look sexier. I am doing something I haven’t done in a time: drink water. I cut some trench of cucumbers and but some in my glass. I read on the Web that it could be good for health. I haven’t been much conscious about this, but I am not drinking enough water. I drink coffee often and tea, but not only water or barely. And according to Annie Brewer, drinking water helps lose weight and improve health. Getting rid of 5-10-20-30-40 lbs LOL will make it just easier to fit in my outfits. Add to the water, the cucumbers give it a great taste. I also read about adding strawberry in could be benefit.

I know you love me and my body and I would like to let you know that the first 2 days of the challenge went well, 17 days left to go. Following what, I hope to stay this way and never fall again on an expensive mode. It should be easier after the 17 days period. And it will be easier because I quickly want to pay off the money I am borrowing on my 1.9% credit card to pay off my RRSP loan. I have a goal now. And investing goal was too large has I have been investing like forever now. For once, I decided to pay off m debt. But just the RRSP loan. I got a reader who writes to me “grow up and pay your debt”. Dude, what’s your problem? 

All the debts I own are giving me a tax credit, at the exception of the RRSP loan. It’s the only reason why I am paying it off. 

I just have the credit card balance transfer. Tomorrow lunch time will be busy. Its tomorrow that I am going to pay off my RRSP loan! It will allow me to keep an extra $80 in my pocket. My RRSP loan was $108 a month. I used to have around 8k debt on my TD Visa at 2.99%. The monthly payment was at $28 per month. Now, that I have double that amount because I used my TD Visa to pay off my RRSP loan, the monthly payment for the next 6 months will be of $56. Those changes and many others are from my revisited budget.

Since I unfortunately have to move back to Montreal to find a job, I qualify to receive the Quebec Solidarity Tax credit. I am about to be permanent on my job sometime next week, so I guess it could be a good idea to see how I can received the credit. I calculate something like $30 a month. Not that much, but when you are trying to live on a tight budget, any extra cash is always welcome. I used to get as much as $50 from the Quebec Solidarity Tax credit. But now, they are giving away much less. And knowing how much Quebec has debt, they shouldn’t be giving any money away.

My $100 Challenge

I am about to have my RRSP loan completely paid off. I am using my TD Visa at 1.9% for a credit card balance transfer. My RBC Visa is completely paid off, my I have requested to transfer over $7 500. Once the transaction completed, this should leave a positive balance on the credit card. Following what, I will transfer the funds over my banking account and write a cheque to completely pay off my RRSP loan. This is about to happen soon!

My TD Visa will be at a balance of 16k for about 6 months. At the end of the 6 months period, I plan to pay off $7 500 on the credit card. But during the 6 months, all the money I save will be applied on my margin. I should be able to pay off the debt in 5 months. That’s the plan.

In the in-between, the goal is to watch my spending. I have giving myself $100 to cover my grocery and coffees until December 21 (day I am finally leaving Montreal for a few days). This is what $100 look like. 

I may completely skip my coffee treat and other delicious treats but hey, there’s nothing I cannot work around right. I am the Dividend Girl after all.

I haven’t spent one cent of the $100 yet. The challenge started today. Basically, the $100 is for my grocery. There’s will be no eating out (for once) and I guess I will be eating more vegetables and turn into a sexy little rabbit. In the mean time, don’t you ever worry for me, love, I have a few items pack in my fridge and I have some pasta too, eggs, cereal. So calm down.

I am doing this because I need to stop my spending habits NOW. I am leaving my credit cards home. Basically, I will have just a $40 or so in my purse. I won’t have anything to spend, basically. Just like if the end of the world will be coming.

I have over $1 100 to pay on my BMO MasterCard you see. I really have to slow down on my expensive. I don’t need any lipstick, any mascara, any makeup. I don’t need any clothes. I have everything I need. Now, I just need to get back on track, I need to get on the same discipline that I use to have. I really know what I need to do. CONTROL. 

Enjoy those pictures of me in the meantime:

The Lower Churchill River project of Newfoundland and Labrador: the dream is about to happen

I was very EXTREMELY upset when I learn that Quebec province is actually trying to stop the Lower Churchill River project in Newfoundland and Labrador from happening. Quebec has their establishments, in this case Hydro Québec. It seems to me that Quebec province never has been able to expand outside their province. They once tried to get into New Brunswick and they received the hell of a response... Do you think it work out? Do you think that New Brunswickers like myself accepted to be control and dependable of Quebec province, an unbalanced province that cheat on Canadians so many times? And what if Quebec separate? We’ll have to deal with them anyway?

Of course, we protested and the takeover deal had been cancel. There will be no f Quebeckers controlling our territory and our electricity, that for sure. I think that in New Brunswick, we all think the same way when it comes to Quebec. We are totally disgusted by them.

New Brunswick province is a smaller territory and we don’t even have 1 million in term of population. The North of New Brunswick is poor and there’s a lot of pollution. I remember being young, we could go for a swim in a small river located close to home but now, forget about it. We have one lake however that remains beautiful, but it’s about it. There’s a lot of pollution too in the very north of New Brunswick. The provincial government never been careful about the industries getting there. Because of the lack of job, they accepted anything and everything. In result, people are dying of cancer. For the small population that we are, there’s a high level of cancer in New Brunswick. So high that even small hospitals of the North of New Brunswick are provided treatment for cancer. Luckily, no one of my family, immediate or extended never got cancer, except my aunt. She went through a small but rough treatment, didn’t lose her hair and now seem to be well.

The Lower Churchill River project won’t happen in New Brunswick, but it could be a solution for us to get the electricity that we so desperately need. The Lower Churchill River project is also a way to reward Newfoundland and Labrador to be part of Canada. If I remember my history class correctly, Newfoundland and Labrador was the last territory to be annexed to Canada. Newfoundland was once even worst than New Brunswick. There was no job and the number of people on welfare was high as well as the unemployment and people on EI. But things eventually became better and Newfoundland is booming.

As Canadians, it’s important to work hand in hand with the federal government to be able to push on some important projects. In their extreme arrogance, Quebec doesn’t want the federal to be involved in topic that is of the authority of the province, like health, education etc.

My word is, you have to trust the country, you have to trust the nation. The Maritime provinces need the help of the federal to establish themselves and its ok that way. We are not arrogant, we are dumb, we are not stupid. Newfoundland and Labrador has understood the way to go. We are one united country and the richness that will be created in Newfoundland will benefit, indirectly, to the rest of Canada. If Quebec could have the same ethic and understanding, they wouldn’t have those “600 milliards” (that part is in French, sorry) in debt, they wouldn’t be stuck in their corruptible system, they will be healthy. Instead of focusing on what is wrong, on wanted to be a country of their own, Quebec should have concentrated its effort at pushing their economy. Now, try to explain that to a Quebecker that have vote Pauline Marois and the Bloc Québécois at the last election. 

Quebec is where it is to be. They are paying the price of their freshness and now, they look pretty dumb at trying to stop the Lower Churchill River project from happening. By doing so, I hope that business owners of other provinces will wake up and stop dealing with Quebec. There’s a need for punishment for what they are intended to do. I hope Quebec will pay. Quebec government should be ashamed.

Emera Inc. (EMA) is a new safe heaven in the Canadian stock market

Please read:

"OTTAWA, Nov 30 (Reuters) - Canada's federal government will provide a loan guarantee of up to C$6.3 billion ($6.3 billion) for Lower Churchill River hydro-electric projects in Labrador in a move that could cut the cost of power to residents of two Atlantic provinces.


The loan guarantee, announced by Prime Minister Stephen Harper on Friday, is intended to give new impetus to the long-stalled Muskrat Falls hydro-electric generation station near the Quebec border in Labrador and to three transmission projects.

The loan allows the project proponents to seek financing at lower costs, eventually making electricity cheaper for residents of the provinces of Newfoundland and Labrador, and Nova Scotia.

"The federal loan guarantee will lower the costs of borrowing for the proponents, with projected savings of over a billion dollars for ratepayers in Newfoundland and Labrador and Nova Scotia," Harper's office said in a statement.

The guarantee, which Harper promised in the 2011 federal election campaign, will remain valid for 35 to 40 years. The term sheet for the deal was signed by Ottawa, the premiers of Newfoundland and Labrador and Nova Scotia and by the two energy companies involved.

Newfoundland and Labrador has been looking since the 1970s at harnessing the Lower Churchill River, which can produce more power than the province needs, but it did not start active development until the last decade.

In November 2010, Newfoundland government-owned Nalcor Energy and Nova Scotia-based Emera Inc announced plans to develop the 824-megawatt Muskrat Falls plant and related transmission lines.

The estimated cost of the projects is C$7.4 billion. Muskrat Falls is expected to start operations in mid-2017, generating 4.9 million megawatt-hours (MWh) annually.

Nalcor will build and own 100 percent of Muskrat Falls and will also build one of the transmission lines through a joint venture with Emera.

It will build the Lower Churchill project in two phases, the first at Muskrat Falls and the second 2,250-MW phase at Gull Island.

The cheap and clean power produced at Muskrat Falls could also attract buyers in New England.
The project plays into a longstanding dispute between Newfoundland and Quebec over energy development on the Churchill River. The dispute spurred Newfoundland and Nova Scotia to become partners to find a way to deliver power to other markets while bypassing Quebec.

Quebec's new separatist government immediately criticized the loan guarantee, saying Ottawa was giving preferential treatment to one region.

The federal government said the Muskrat Falls facility would reduce up to 4.5 million tonnes of greenhouse gas emissions annually."

Don't be left behind. Invest NOW in Emera Inc. (EMA). The deal with go through the little f@ckers of Quebeckers cannot do ANYTHING to stop this. God will protect us. May Quebeckers who try to stop this burn in HELL.

This is soooo exciting! HOT HOT HOT.