We Are The Champions, My Friends!
Posted by Arianne | Filed under Arianne
4 MONTH CHECK-IN!!!
Hi Everyone and Happy Thursday the 12th! I’m super proud of the will power I’ve had in the four months since I began posting to this blog. I wanted to give you the most recent milestones I’ve hit and want you to share your own. Every time I read or hear about someone else’s successes it pumps me up to continue what I’m doing so please, let me know what you’re managing your own goals in the comments section.
#1) VACATION SAVINGS
My goal is to have between $2500-$3000 to take myself away for my birthday in October. As of last Thursday, I have successfully crossed the $1000 mark!!! And I made another decision: instead of the 5-star tropical vacation I was planning, I decided I’m going to Paris, France. Paris was supposed to be my birthday destination when I turned 30 but we all know where I was just a mere seven months ago! So to think that in only a year, I’ve turned my finances around enough that I’m, A) able to save for a vacation, B) paying all of my bills on time and C) NOT LIVING OFF DOLLARAMA RATIONS is astounding. I’ve been putting $200 into my Tax-Free Savings Account every pay. While I am saving up for a trip, I don’t plant to spend all of the money I save; just knowing I have the will power to leave it untouched gives me a non-drug induced high. THE BEST KIND.
#2) CREDIT CARD REPAYMENT
I let y’all know that I’d be able to pay off my second last credit card very soon. And guess what?!?!!!! I DID IT! Last Thursday was a great day for me. The balance on that card has been brought to a big, fat, round, glistening ZERO. I have one credit card remaining, the TD Emerald Visa that’s been the bane of my existence for so many years. Next to my new mortgage, it’s the only debt that remains. I will finally be able to make a dent in it. I’ve made a plan to continue making the minimal payments and then the money I was paying every month toward the card I just paid off will go toward my Visa as well. As I begin chipping away, I’m going to lower the balance of the card because I do not need that large of a balance or the temptation.
Folks, little by little I’m doing this. Like, really doing this. Writing these posts and holding myself accountable to the rules I’ve set has worked wonders. WONDERS, I say. Where was this opportunity when I was 20! I probably wouldn’t have been ready for it anyway. In other great news, I’ve been putting in the hours to begin generating a second income to put toward my debt repayment. My goal is to be completely debt free by 2016. I’ve said it now.
Stampsies, no erasies.
A single gal who just turned thirty and a first-time home buyer, Arianne is trying to defeat the monstrous debt she accumulated in her twenties. “That debt is the result of my biggest and most dangerous vice: Shopping” says Arianne.
April 12, 2012 at 6:55 am
Congratulations!
In terms of my savings goals, I’ve reached my goal for funding my wedding ($5,000 – but several deposits and payments have come out of that), and I’ve also reached my goal for honeymoon savings ($3,000).
This means that the money I was putting towards those savings goals will return to my down payment fund. My RRSP savings continue regardless.
April 12, 2012 at 9:50 am
Amazing! I’m super proud of you. It’s really inspiring to see you make debt your bitch. I can’t wait for the moment when I’m done paying my student loans off!
April 12, 2012 at 9:57 am
Last year we opened an account just for vacation $. In March we completely paid for the flights and hotels for our two week trip to Prague, Berlin & Brussels in July. Now we just have to save spending money. I love coming home from a holiday and not worrying about opening the credit card bill!
Paris should be fantastic – what a great birthday present!
April 12, 2012 at 12:22 pm
WOW!!!! Congrats!!! Now you are getting me all excited!!! My husband and I have a few goals too!!! We went to the bank last week because the 5 year term on our mortgage was up and we have just 1 year and 7 months until our mortgage is paid off!!! The banker told us (this we didn’t know) that we can make payments anytime we want on our mortgage without penalty and it goes straight to the principal!!! So we plan on getting our mortgage paid off in 1 year. We also have a credit card balance and a line of credit. We are going to get all this paid off in 1 year also. So hopefully this time next year, the only payment we will have is our car payment!! All the while saving for a family vacation to take before July 2015. This is when our passports expire. Happy!!!!!
April 12, 2012 at 12:38 pm
Congrats Arianne!!! That is absolutely AMAZING work!!!
April 12, 2012 at 3:12 pm
Good job Arianne! Paris is WONDERFUL! we were there for our honeymoon.
Hubby and I just overhauled the summer budget and it appears that we can have one of our LOC paid off by Christmas!!! this is huge because Hubby will also be graduating then and student loans are going to want their money back.
This budget also allows us the wiggle room to enjoy the summer which is choc-full of weddings and birthdays. so YAY! Keep it up!
April 12, 2012 at 4:05 pm
Way to go Arianne! As I’m sure you’ve discovered, giving yourself short, attainable goals is the way to go.
Once you’re on a roll, you’ll find momentum works in your favor and you start wanting to save even more, putting even more dent in your debt, as all the positive emotions from watching that balance goes down acts like a “good drug”!
Then you move on to saving – watching that saving balance grow becomes its own high, and then let the good times roll!
April 12, 2012 at 9:20 pm
WOOHOO! YOU GO GIRL!!! Can I steal away in your suitcase – I LOVE Paris!
April 12, 2012 at 9:22 pm
My husband and I say it all the time: “Living within your means is sexy!” (We are very sexy people!) LOL!
April 12, 2012 at 9:23 pm
By the way, when you go, please enjoy a grand cafe creme for me – oh how I miss those! (Accents don’t work on this for some reason!)
You’ve inspired me to get my butt in gear and start establishing some goals!
April 12, 2012 at 9:47 pm
Sounds like you are definitely on a roll! Way to GO!
April 12, 2012 at 10:10 pm
Yay for you!
My goal: debt free by end of 2015. I am steadily paying it all down, bit by bit. The kids are really wanting to go to Disney, but its going to have to wait til the debt is gone… currently our biweekly vacation savings goes toward a summer long campground site rental and upkeep on our camper, and I am sure we have more fun doing that than a 1 week trip peryear to Disney, but I could be wrong…. guess I’ll find out the end of 2015 when we celebrate DFF with a cash only trip to Disney…. I too just started a second income generating idea, so hopefully I can pay it off even sooner. The budget is tight, but definitely doable. Your post helped to motivate me! thanx
April 12, 2012 at 10:47 pm
Congratulations, Arianne …
I’m sure there’s nothing like blogging your goals to help your motivation too succeed, too!
You will enjoy Paris all the more as you realize how you got there! Bravo!!
April 12, 2012 at 10:48 pm
… “to” succeed, of course :-[
April 12, 2012 at 11:30 pm
We received a very substantial amount of money from a malpractice lawsuit.
I’m proud of us for putting it where it can work for us instead of spending it like drunk sailors. 10 years ago, this would never had happened.
April 13, 2012 at 8:39 am
Congratulations! I’ve been following Gail’s budget for the past 3 years! Debt has been at ZERO since October (Car loan and mortgage not included)! I have money in RRSPs, I have money in a vacation fund, I have $10,000 CASH in a savings account! This is all done on one income and 4 children! I have never felt more in control! An incredible feeling!
If I can do it…. Anyone can! Now… can anyone tell me how to lose 50lbs???
S
April 16, 2012 at 10:00 am
That is fantastic Sandy!
I feels so good to have money in the bank, 10,000 in savings, WOW
I thought I was doing great with 5,000, I just want to keep going.
I also have an RRSP which I just increased, an RESP, TFSA, and vacation fund . And money in the bank….
I love that feeling of being in control…. I use Quicken program which I could not live without…
Thanks for motivating me
April 13, 2012 at 7:47 pm
Sandra, I went to Disney 3 yrs ago and it had taken me 3 years to save up the money. I was also 47 yrs old and had been working for 27 years. It had been my dream for so long! The fact that the trip was paid before going was FANTASTIC!!!