General Goals 1) to be debt free in 3.5 years 2) save lots of money

Monday, June 6, 2011

Musings and Reflections on Advice, Weekly Spending Re-cap and Weekly Money Check Up

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 2011
May 30 (Monday) 
$16.00 taxi $28.25 via rail ticket $20.00 transit tokens

May 31 (Tuesday)
 No Spend Day

June 1 (Wednesday)
 $2.75 MacDonald's 

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.


  1. Chin up, girlio! Don't be so down on yourself! Thinking positively will do far better things for you! I know you can pass this test! So buckle down and study and take in what you can and go show them! Put your focus on your LLQP for now and set all these other worries aside. Put your foot down and tell people that you need to study for this test because it is something that is very important to you. Go for a walk or do something to clear your mind and then set your focus. You've got cheerleaders, listen hard, you'll hear us! ;) Hugs!

  2. Hakuna Mutata - No worries

    Don't be so hard on yourself, you are not a failure, look at all of your achievements so far, you can see so many here alone on this blog.

    First thing you need to do is smile.

    Next try this. When you are revising for the exam, just read the book without trying to retain anything, then read it over again also without trying to commit anything to memory, you can do this chapter by chapter. Then go do the exam without a care in the world.

    If it doesn't go great no problem, minor set back at the worst, all you need to do is look for a new path and put one foot forward again followed by the other but only positive thoughts. You will rock not only this exam but your entire life.

    Good luck and try to be happy as much as possible. Start with a smile :) Little Lamb is right.