BIG IMPORTANT DRAMATIC NEWS!!

Could I have a little trumpet fanfare please?

Thank you. Now, how about a drumroll....heehee
Just messing with ya...

Here's a screen cap of my progress bars...updated just moments ago....

Hmmmmmmmmmmmmmmm....that looks a little strange!! Where did all of my money go???

Oh yeah, it all went to PAY OFF MY 
LINE OF CREDIT, OH YEAH!
That debt is HISTORY BABY!
DONE
GONZO
KAPUT
FINI
WIPED OUT
EXPUNGED
WASHED UP
CANCELED 
AND DEAD!!


I didn't really intend to pay it all off at once, I was originally going to pay it off by December, then I thought about a lump sum payment and have it finished by July, then I just started transferring til it was all gone!! I just couldn't stop myself - it felt so good to wipe it out!

From today until the day I retire (796 days!)every spare penny plus the $100 or thereabouts that I was paying monthly in interest on my line of credit, plus the $1700 per month I was currently paying on it plus my usual savings amount will go to replenish and increase my various savings accounts. First I'll refill my emergency account and my PEI Ins. & Taxes as I have a tax bill to pay at the end of May. Then the PEI Maintenance Fund as that money is buying my fridge and stove this summer, then Christmas, then TFSA  (though the bulk of the TFSA will have to wait until Jan. 1st 2013 as you can't repay what you take out in the same year). I should be right back where I started (plus more) by the end of this year. Plus I'll save $100's of dollars in interest.

I'm also waiting for one more automatic payment to show up in my no fee ING chequing account and once it has cleared (next Tuesday) I'll be heading into my local TDCanada Trust to close both my chequing account and Line of Credit account. Yippee!! The service charges I'll be saving will find their way into my savings accounts too!

Now I am almost completely debt-free. The only debt I have is a small mortgage on my PEI home which amounts to $118 twice a month. (I'm actually paying $150 twice a month which has knocked 7 years off the life of the mortgage). I'll consider how much more I can increase that bi-monthly amount in order to reduce the amortization even more.

I have one year left in my mortgage's current term of 3.79%. That was a 3 year fixed rate.  I just looked up ING's mortgage rates and a 3 year fixed rate now is going at 3.19%!!  A 10 year fixed is only 3.99%!! I may lock it in for a 10 year term and ramp up the payments and pay it off as quickly as I can. You're next Mr. Mortgage - I have you in my sights and I'm going to blast you into smithereens!!

What's putting a smile on YOUR face today???