I started the below post while at work during a brain brake form studying for my LLQP exam. I went into work 2.5 h early to try and get more studying in. But by the end of the day, I am feeling very negative about my changes of passing. I feel like a failure, there are a lot of hopes on my ability to pass this test and I feel like its not going to happen because of brain's ability to retain things, something I struggled throughout school with. It's got to the point were I have figured out what I will say in a job interview when I get asked how come I was only at Bank X for 10 months. Any ways on to something a little less depressing.
On my last post I mentioned I have been mussing with what to do with the $1,000 I have in a mutual fund. Out my Window (see comments) motioned that investing is ‘for the long haul’ and she is right however this is not HOW I wanted to invest for the long haul. When I do start to invest I will likely be following the Lazy investor method of investing. And mutual funds are not going to be part of my investment strategy. Out My Window is right, I did know when I ‘bought’ the mutual fun that it would likely be a 5 year thing and I am impatient with it. I just don’t feel anymore that the cost is out weighting the potential long term benefits. Also I have recently learned that Mutual funds are considered ‘risky investments' in the world of insurance/ investments. I fell I was mislead by the bank rep who told me mutual funds were save especially the one I have which is a ‘balance fund.’ I think what I should have been told was mutual funds are a risky investment but a balanced fund is a less risky mutual fund option.
Little Lamb suggested I take the money out and put it into my emergency fund. This isn’t an idea I had thought about. Actually it was never considered because I feel that if I haven’t used the money now it should be ‘returned to OSAP’ just like I did with the $3,000 I had left over in summer OSAP last year. Though I might have to consider it depending on what happens by the end of this month.
As for the job aspect, depending on how well this test goes I might just be looking for a new job. However I don’t have any desire to look for a better/ higher paying job until after Dec 2011 when bank STI is paid out and salary increases are offered. Provided I pass my LLQP I am entitled to $2,000-4,000 pay increase which would put me at just under $40,000. I have been debating on going back to school in Sept 2012 depending on how things go at work. I want to take some computer courses and brush up on my language skills. Work is willing to accommodate employees who have been with the company longer than 18 months and I will be at 2 years at that point. However, all these plans hinge on this LLQP certificate, and if that falls to pieces than I will be job hunting again.
I just want to say thank you to Out My Window, Little Lamb and Rafiki for commenting and giving me their advice. Having a third party take a look at a problem they are not personally connected to often provides a clearer idea of what to do. I still haven't decided what to do with it but I think I will hold off until stuff at work has been sorted out.
Weekly Spending Re-cap May 30-June 5 2011May 30 (Monday)
$16.00 taxi $28.25 via rail ticket $20.00 transit tokens
May 31 (Tuesday)
No Spend Day
June 1 (Wednesday)
June 2 (Thursday)
Snowflaked 4.25+3.25= $7.50 jar at: $339.32 into LoC for June (left over from last pay/AN weekend spending)
No Spend Day
June 3 (Friday)
$6.77 on a second hand DVD
June 4 (Saturday)
No Spend Day
June 5 (Sunday)
No Spend Day
Weekly Money Check Up
1. The most I’ve spent this last week was on TTC tokens unless you count my LoC payment but I don't because its budged for.
2. Today I am thankful a job, I might be out of one soon, its best to be thankful for what you have got!
3. Money can’t buy happiness. One free thing I did last week that made me happy was clean my room, I had let it slip to a right mess worse than it normally is at the end of the work week. I also catalogued another case of books, so I am making progress on my 2011Goals, slow progress but progress.
4. I will consider this week a success if I pass my pre-qualifier LLQP and email my professor about getting my Duke of ED trip book sighed.
5. One of my pet peeves is when friends don’t get that I need time to study and make any excuse to show up at my door. Case in point: a friend said he had something he wanted to give me so he showed up sat morning which through my morning study out the window, only to give me $1 dollar, granted it was a special Olympic addition but REALY this was his MUST give me! And than of course mom came home and well the rest is history as they say. See Sunday’s post.