On Tuesday morning, my 2012 income tax return was deposited into my bank account. I immediately transferred all $1,650 of it to my loans, bringing my total debt down to $3,150. Then payday came and I threw another $400 on it. In one week, I went from having $4,800 of debt to just $2,750; that is literally less than 10% of what I owed when I started this blog.
The feeling I get when I think about that is incredibly overwhelming. Obviously, I’m excited. But I also remember a time, not so long ago, when the amount of debt I had kept me up at night. It controlled my every thought, my every move – and in many ways, it still does. But it’s finally almost gone.
So, what’s the game plan to go from $2,750 to $0? Well, that’s the hard part. Because I have no idea what April is going to look like, I don’t really know how to budget for it. My plan so far is to head over to Vancouver for Easter weekend, so I can start apartment hunting. If I don’t find one, then I could either be going back and forth from Victoria to Vancouver every weekend, until I do, or I’ll stay with friends in Vancouver and only come back to Victoria to pack up my stuff and move everything over.
Either way, there’s a good chance I won’t be paying rent in April. But who knows – I could magically find a place for April 1st or 15th. It’s actually a little exciting now, not knowing what is next. I’ll probably get to spend some quality time with new and old friends, go for some outdoor runs, and explore the Lower Mainland a bit. It’s just tough not being able to come up with a monthly budget or a specific debt repayment plan, so I can pin down exactly where I’ll be at the end of April.
Nonetheless, knowing I have less than 10% of my original debt to payoff is incredibly motivating. Just last week, I was going through another spat of debt fatigue. I wanted to spend spend spend on anything and everything I could think of. I did spend a little bit last weekend (I got 7 new tops for $86!). But this week feels different. I’m ready to stay focused and be as thrifty as I need to be, to get that number down to $0. After that, every penny I earn will be mine.
What a concept.