Debt Avoidance…and the Debt Snowball

Yesterday’s post was supposed to be more financial in nature because it was payday, and well, it was a money day!

In addition to my pay cheque I also recieved my annual staff discount – $228, based on my spending at Calgary Co-op, where I also work!  What to do with that windfall?

As you probably know – I have debt, debt that ties up $200 of each paycheck as I pay it down.  That’s about one fifth of my earnings – not fun, but it’s nice to see the size diminish!  So, putting all of that to my debt would mean paying it off two weeks earlier!  A thought – a “gazelle intensity” thought.  Possible.

I also have a life – a life that could be long.  It could also be short.  I want to enjoy it.  In October I flew to Ontario to visit family and attend the wedding of close friends.  It was good.  My determination was to keep my credit card in my wallet.  If it needed to escape, which it did on one occassion, I paid that amount ASAP – like before I even arrived home!  Sure I could have put all that money on my debt, but then I would have missed finding the rubber chicken with my nieces!  And the wedding.

In January I start the final course towards ESL certification.  This costs $550.  I’ve been saving here and there, and today with the “staff discount” I was able to put “paid” on the account.  I will pay the bill on January 4th, when the course starts!  Yahoo! No additional debt.

I also did something else that is kind of wild and crazy!  Last weekend, with full approval from my dad, I booked my mom and myself on a Caribbean cruise for a week.  Part of me says – “What are you thinking?”  Another part of me says – “Start saving!”  The cruise ship doesn’t leave until March 31, 2013, so I have some time – but I do have to come up with $250 by December 27th of this year.  While I can and will put it on my credit card, I must also be able to pay that amount at the time that I charge it.  That’s the new game rule for the credit card!

These are the 99 steps (although I’ve read that it’s really 103 – I’ll have to check when I get there) that I hope to climb with my mom and whoever wants to join us!

There was some extra money available after I “paid” for my tuition.  That has been moved into the vacation fund.  I’ve also squirreled away some change and extra savings if I need to.  In a sense the money is already in the bank.

Whether you are trying to lose weight or lose debt (and I’m trying to do both) it’s important to remember that life goes on.  We just have to be prepared for new adventures and unfortunately tragedies as well.  That’s why I’m not touching my emergency fund!  But I’m looking forward to finding a pleasant place to sit and think – in San Juan, St. Maarten, and St. Thomas!

This blog is a place for me to share my journey – towards health, towards fulfilling my life’s work, towards financial peace and to give birth to the ideas my creativity brings me.  This is part of the journey – as crazy as it seems!

Oh, and before I forget – the next part of the adventure:  “The Inkaboos” and thanks again to JD Roth at Get Rich Slowly for posting the links.

Have a great day!

Marcia

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Filed under GREEN: Money matters that matter., RED: Losing weight, gaining fitness, strength and new cooking ideas

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