Weekly Wrap

Time, past time actually, to wrap up the second week of March. At the rate time is flying by we'll be into April before you know it! And after April comes May, and after May comes June, and after June comes SUMMER and a long awaited trip to PEI!!


However, I am getting a little ahead of myself. It's just that the sun is shining, the snow is melting and I can delude myself into thinking that it's warm outside and....there I go again. Somebody, anybody, please keep me on track! 


Well I can tell you one thing that's on track and that is DEBT REPAYMENT!! I give you as my first piece of evidence the following colourful chart courtesy of www.spendingdiary.com. 

So far this month I have paid off a $70 balance on my Visa card putting it at zero. I upped my mortgage payment to $130 every two weeks from $125 (this is for my house in PEI) and that brought the amortization period down to 20 yrs and 11 months. (In total now I've increased the bi-monthly payment from its original $118 to $130 so that's an extra $24 per month and just that little bit of extra $$ has chopped off 4 years of amortization. Makes ya think doesn't it?) I will continue to increase it when I can.  The plan is to pay it in full when I sell my condo and move to PEI in 3 years and 3 1/2 months.

And I've lopped off $1600 (so far) from my line of credit - it now stands at $44,800 and at this rate I will have it fully paid off in 28 months. As having NO DEBT is one of my self-imposed conditions of an early retirement I am HUGELY motivated to keep it going. I may even try for 24 months. One of the trade-offs is less $$ going into savings but I am OK with that - I still have saved $1000+ so far this month for the following: $100 to Christmas/gifts; $550 for long-term TFSA; $120 for EF; $165 for trailer rental fee; $90 for PEI insurance and property tax. 

The wait for my daughter's T4 continues...it seems she was supposed to access their website and print it off but since she is on a leave of absence she couldn't access the website so they are mailing it to her instead. We may receive it tomorrow or Friday and then I can get both our taxes done and get our grubby little paws on our refunds!! Yippee!

The stars seem to be in perfect alignment right now.