Debt Updates (and Noisy Tenant Motivation!)

Ever live in an apartment? Well, that is unfortunately where I am living at the moment and let me just say that noisy fellow tenants are the worst! I have these people down the hall from me who clearly have no respect for their neighbours when it comes to noise, which I can hear in the hallway as they go in and out of the hallway door constantly, talking very loudly, and I can hear them even when they are inside their apartment…and I don’t even share any walls with them! I feel sorry for the people who do. Yikes. Anyway, that is motivation enough for me to pay off my debt so I can eventually afford to buy a house.

Now that I’m done my “vent”, I will share with you what I’ve been up to in regards to my good ol’ debt. First, here’s where I’m at:

MasterCard #1 – $150.43 left owing (started at $723.56)

MasterCard #2 – no change

Bed Loan – no change

Mom – no change

Car Loan – $4777.09 left owing (started at $6188.07)

So, as you can see, I’ve gone down with MasterCard #1 and the car loan. The MasterCard will be paid off by next payday so that’s really exciting for me. It’ll be one debt gonzo! The bed loan will be next after that. The car loan payment automatically comes out of my account bi-weekly so that’ll keep going down too.

So, admittedly, I have kind of “fallen off the wagon” lately with my spending so I will be focusing on getting back on track with that. I’ve been buying things that I don’t need. There, now that that’s out of the way…

I have also signed up with an investing app. I saw it on a couple news broadcasts and in my local newspaper, so I did some research on it. You have it connected with your bank account, and any purchases you make with your debit card, it rounds up the cents to the next dollar and invests those. So, for example, if you bought something for $1.25, it would round up to the next dollar, taking that $0.75 and investing it for you. In this app, you can decide what and how much you want to save/invest in that year and what it’s for. So, mine is going to be an emergency fund of $2,000.

Another goal I’ve done lately is read one of three books I’ve done some research on in regards to becoming debt free. I have two more to go, and will be purchasing one of those today! I will follow up on a future post once I’ve read all three.