I figured I would share my story, as I have been a long time lurker but have made some progress in regards to my financial situation. About a year and a half a go my girlfriend and I moved across the country for better jobs. She had at the time $55,000 in student debt,and a car loan making $20/hr. I was making $15/hr with around $3000 in CC debt and my car paid off worth about $3000. We were living pay cheque to pay cheque for sure, not saving anything, worried to turn the heat on.
She got a job offer $30/hr, full benefits, and unionized. After we talked it over we decided to go for it. I did not have a job lined up and ended up working in a restaurant making $13/hr for too long. We moved out in fall and my initial plan for work fell through. As time went on with moving expenses and not making enough money I ended up with $15000 in debt. I had to get a new car, got a loan for $3500 from the bank and got my trucking licence which set me back another $2600.
I ended up getting a good job making $26/hr working for an environmental service company. Anyways I feel like I am rambling on here. Over the first 6 months of that job I paid off all of my CC debt around $10000 and helped my GF finish off one of her bank loans by giving her $5000. I know have $3800 in my checking account and $1050 in my TFSA. I still have my car loan from the bank sitting at $3200 and have only paid $156 in interest over the first 6 months. I figured I would just keep paying my monthly payments $75 and give myself some time to save up my emergency fund.
I guess I have some questions slash am looking for advice if anyone see's this as I have never been in a situation where I can actually save money. My plan is to Set up my emergency fund in my checking account for know. I will be eligible for my companies RRSP plan come july, and they match %50 up to %3. So I plan on maxing out their match contribution. Anything else I plan on putting in my TFSA.
Ya this has been on my chest for awhile and I just feel pretty happy with myself for clearing off $15000 in 6 months. If anyone does see this, I did some calculations and will make $60000 after taxes with overtime this year. I made $33000 after taxes in the first 6 months with the company. My monthly expenses total up to right around $1500.
Submitted February 12, 2017 at 12:15AM by torontototheworld http://ift.tt/2l6JyAc
