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

Saturday, February 11, 2012

January OSAP and LoC Update

Since January has come and gone it's time to update my progress on my OSAP.  Also I have decided that I am going to keep track of my LoC monthly again. 

December OSAP balance: $5,654.44

January 12~ $216
January 12~$11.25
January 28~$383.63
January 28~$4.71
January 31~ $200.38

Amount paid after interested added: $ 815.97-17.50= $798.47
Daily interest for the month of January: $0.77
Total  monthly interest: $ 17.50
% interest is calculated at: 5.5%

New OSAP balance: $4,846.39

Regular payment to LoC $250
Monthly Interest: $91.59
Daily Interest: $2.95
Interest rate:4.5%
Amount after interest taken off: 250-91.59= $158.41

New balance of LoC as of January: $23,878.89

Current $15,000 extra fund stands at: 

I have a question for everyone that Snowflakes. What do you define as a snowflake and what do you not include as a snowflake???


  1. Wow you are doing really well on that OSAP! Keep that up and it will be gone in no time! I've never really kept track of snowflakes but just add every little bit I can squeeze out the budget. My opinion would anything that you add extra to debt (or whatever) would be a snowflake... big or small.

  2. I see snowflakes as any extra $$ outside of my regular paycheque - so if I sold something on kijiji. I also count $ as a snowflake if a bill comes in less that what I budgeted for.

  3. You are doing awesome.

    For me, a snowflake is exactly the same as little lambs definition. Anything extra that you throw at debt, even if it is a dollar you found on the street.

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