I have been thinking about money constantly since Friday when I discovered that the minimum payment on one of my student loans, which I could barely afford to pay, jumped by $160 a month, bringing my total payment to $495.41. Whaaaaaaaa?!
I know that I signed up for that debt. I know I agreed to the terms when they told me that my interest and minimum payment would climb every year. But I wasn’t expecting to pay $500 a month on the thing. Do you know what I could do with $500? And that’s just ONE of my loans, guys. I am still paying for OSAP. Not to mention my credit cards (both maxed out).
I am soooo angry. Angry with myself for not saving any money. For getting into debt. For investing in a useless university degree. And I am soooo angry with the bank because they have all of my damn money!
I am going to claw my way out of debt (literally penny by penny because as it is now, I can barely afford to eat let alone pay off my student loans and credit cards), and then I’m never ever going to give the bank any of my money (above and beyond keeping a checking/savings account) ever again (I MIGHT make an exception for a mortgage, but only if I have at least 30% to put on a down payment). I’ll be making regular posts about my progress.
So far, I’ve signed up for my baby bonus (9 months late, but hey. It’s a start!), which is basically free money I get from the government to help pay for some of the costs that come with having a child. Here are some of the other things I’m going to do:
1. Do my taxes so I can get my GST cheques (more government money I qualify for because my income is crap).
2. Keep the house well stocked in groceries and easy-to-make snacks so eating out (or ordering a pizza) is less tempting.
3. Pack Chase a lunch every day so he doesn’t have an excuse to buy one while at work.
4. Spend some time on Weebitz so I can make some extra money (yeah, yeah. But I might actually do it this time!).
5. Limit my social outings (where money is required) to twice a month. This is going to be the hardest thing for me, I think, because I have already had to limit my outings so much. Since we moved into this new place, I haven’t been able to afford subway tokens to get anywhere, so I just don’t go out. And it is so boring and isolating being on maternity leave. This past month has been especially so. I feel the baby blues closing in. But maybe we can get out for more walks or something. More trips to the park? Lots of stroller rides to the grocery store? I dunno. Something.