Monthly Archives

August 2011

Weekly Spending Report

August 28, 2011

I got the money I pulled from my RRSPs for the Lifelong Learning Program! Hooray! Now I’m waiting for it to appear as a credit on my credit card, so I can make my final tuition payment… ever!

Monday
-$4.98 Starbucks
-$117.42 Car Loan

Tuesday
-$87.89 Car Insurance

Wednesday
-$5.55 Serious Coffee

Thursday
No spend day!

Friday
-$4.98 Starbucks
-$6.89 Walmart
-$14 Noodle Box
-$6.61 Superstore
-$5.59 London Drugs

Saturday
+$3,525 from RRSPs for school
-$3,525 to credit card (to then pay for school)
-$17 gas
-$2.07 Tim Horton’s
-$7.97 groceries

Sunday
-$42.40 groceries

In: +$3,525
Out: -$3,643.03
Bill Payments: -$87.89

Debt Payments: -$117.42

How Am I Going to Pay for School?

August 21, 2011

Last week, I finished my second and last residency for school. (Hooray!) But if you imagined me putting on my cap and gown, think again. From now until July 2012, I have 8 more classes to complete, before I will be done my degree. And with each class comes a price tag…

On Friday, I made my third-to-last tuition payment of $705. On December 1 of this year, I have to pay another $1,410 and then I have to pay $1,410 again on March 1, 2012. While the dollar amounts may not sound like too much, try to imagine saving this kind of money when your credit cards are nearly maxed out… to say I have been stressing about it would be an understatement.

For the last month or two, I have seriously considered getting a second job. (Yes, most likely at Starbucks!) But the idea of working full-time, going to school part-time, and picking up a second part-time job… well, if that sounds appealing to anyone, I might call you crazy!

Cue my good friend Krystal. Last week, she asked if any of her followers had ever used the Lifelong Learning Plan and it was like a light bulb had turned on… Like, hellooooo! Why haven’t I used the Lifelong Learning Plan yet!? The LLP allows you to withdraw money from your RRSPs to pay for school; it’s tax-free and all you have to do is repay it (back to yourself, that is) within 10 years.

As soon as I saw her tweet, I emailed my financial planner and setup an appointment to discuss it. I went to the bank for our appointment on Friday at 4pm, and by 4:15pm, I had signed the papers and was walking out the door. I am withdrawing $3,525 from my RRSPs for these final three tuition payments. Once I get the money, which should be within 7 business days, I’m going to make my final tuition payments.

And then that’s it! Other than textbooks, I will be done paying for school! And even though it has to be repaid within 10 years, I will have it paid back within 2-3. You can’t even imagine the weight that has been taken off of my shoulders… no more loans, no more worries… by mid-September, after giving my parents the $752 I still owe them, my university education will be completely paid for.

Weekly Spending Report

August 21, 2011

I’m done school! I’m done school! Well, I’m done my final residency, anyway.

On Saturday, I took out $60 cash and went up island with two girlfriends from school for a day of beaching, mini golfing, and shopping. I also paid my third-to-last tuition payment… so I’m pretty broke, for the next two weeks, but I’m happy! And it’s time to get back on track with running, anyway… hooray for free exercise!

Monday
-$50 RRSP

Tuesday
-$1.96 tea at school

Wednesday
-$4.03 snacks at school

Thursday
-$4.98 Starbucks
-$10 drink

Friday
+$1,362.04
-$705 tuition payment due September 1
-$149 Personal Loan
-$26.50 Walmart
-$4.98 Starbucks
-$27.27 groceries (and flowers for Mom!)

Saturday
-$23.38 gas
-$60 cash for a splurge day up island with friends :)

Sunday
-$22.25 birth control
-$37.09 groceries

In: +$1,362.04
Out: -$218.41
Bill Payments: -$755

Debt Payments: -$149