Thursday, March 28, 2013
Payday! OT Edition
The last two weeks (Mar 8-21) I worked 89.75 hours and it paid off ... literally :)
I made an extra $666 net. And its practically spent already :(
Hmm, $666 is this a sign this money is cursed or something?
Here's the breakdown:
$40 share of groceries
$50 share of parking
$500 to T to partially pay back $1000 borrowed to go into my RSP
$400 to my aunt to partially pay back loan
$100 share of renters insurance
$100 to EF
$500 to Planned Spending (want to purchase a bike this month and need to pay for taxes for flight to Alberta)
= $1965 out of $2308 = $343 which is around what I typically leave for myself.
You may notice that I didn't put any money towards debt repayment. I feel like I'm spinning my wheels a bit. At the same time that I really want this debt gone, it is at 0% (balance transfer) and the amount (just under $4K) isn't causing me stress or causing me to lose sleep.
But, anytime I have to make a large purchase, if I don't have savings, I have to put it on credit. So, the goal right now is to not accumulate any more debt than the $4K I have and then pay it off. That's why I decided to put the $500 in savings (planned spending) rather than on debt. That money's going to get spent eventually.
Hopefully that makes sense.
What about you? What would you do with the extra money? Would you pay down debt even though its at 0% or would you put it in savings for future purchases that would avoid adding to debt?