Bi-Weekly Finances and Funds

Today is pay day! last night I moved the last of last pays money into my line of credit YAH! for snowflakes. A grand amount of $28.64 which brings my jar to $63.53. All in my line of credit *big smile* the faster I can get that principle down the happier I will be.

I mentioned in a earlier post in December that I was increasing my TD line of credit payment to $300 starting in Jan. I had thought it might be a tight budget because I had anticipated having a car by now. But that hasn't happened and its not likely to happen until maybe March or April... sigh. That fund is on hold until my vacation fund catches up because I have a conference in Cuba in Feb. that I am going to and haven't even booked it yet. *EKKK* I want to pay it all in cash, truthfully there isn't any other option any ways, since I have no available credit., which is not a bad thing really.

I have applied for a part time job. Stats Canada is hiring part time staff between early March - end of July. The hourly pay is $14.72-18.04 (for supervisors). I really hope I get the job.  This will be a great way to add extra money to my line of credit. As all the money I get from a second job will be allocated to debt repayment.

With out any further ado:                       net pay:  $1,178.98

TD line of credit: 300.00
Cat fund: 50.00
Vacation fund: 450.00
Xmas fund: 40.00
Storage unit: 100.00
10% fund (general savings): 153.40
Spending money: 85.58

Transactions have been done I will endeavour to update my trackers. I no longer pay my visa bill on the first pay of the month because of what happened last time. So it will get paid next pay along with my cell bill.

Ally, income and student debt

On Monday I mentioned that  I had finally got around to sending in my cheque in to Ally. The lady at Ally said that they would have it processed in a few days and taken out of my account a few days after that.  I checked it today and the money hasn't been removed yet. This scares me. I hate having money or rather large sums of money in my chequeings account. I don't keep large sums in my account to prevent theft and also to prevent impulsive buying. I wish they would  hurry up. Last time I sent them a cheque they had returned it to me within 3 business days.  Mind you maybe the reason its taking so taking is because its actually being processed this time around.  Who knows... its a wait and see kind of thing.

The other day I was on the Globe and Mail site and one of the articles said that to pay down student debt you had to use the rule of 10.  Basically grads need to be making 10,000 more then their student debt to have it paid off in 10 years at a rate of 10% a year. Now according to this assessment I am making  30,000 less then I should be a year. How depressing is that, especially because I do not want to be paying off student debt for 10 years.

Yesterday a friend of mine and I were talking about getting part-time second jobs. I really want to do this because I need the income to reach my debt repayment goal in the new year. However I mentioned this to my boyfriend and he was less then pleased. I think he thinks if I got a second job that the little time we get together will end up decreasing further. I don't want this to be the case and I intend to make sure that this isn't the case. But how do I get him on board. I don't want him to think that his concerns aren't valued but truth be told I am going to get a second job.