Thursday, 20 July 2017

Wanda Payment Update

Okay, so today is a Wanda Payment Thursday, so that means it’s time for a Wanda Payment Update! 

I have been making my regular payments on the Wanda Loan, each payday. I have been making payments in two ways. 

The first is on the loan itself. Those payments have been much smaller than before, yet still much larger than just making an extra (regular) payment.

The second payment that I make is into my Long-Term Savings Account. I consider this a payment on the Wanda Loan, because that is what it is earmarked for.

I can’t touch that money yet it is still available and under my control. So, this cash is in a bit of fiscal limbo.

That cash reserves will be handy if I suddenly find myself out of a job. As that is the only reason that I would touch that savings account (other than to pay off the Wanda Loan).

This current payperiod has been brutal. This is due to me paying my truck insurance up front. I still did it, and managed to pay balance my budget and pay my bills.

I did this by pausing the payment into the Long-Term Savings Account. Sure it was the right move, as without it I would not have any Personal Overdraft . . . none.

This put me behind the eight ball, so to speak and put me in this precarious position with regards to the schedule to pay off the Wanda Loan, but I am still on track.

I also had to cut the extra payment on the Wanda Loan by a third, just to balance the budget. 

In order to stay on track, I will need to pay that extra third on top of a future extra Wanda Payment either on this upcoming payday or the next.

So as a result of this financial wiggling, the extra amount of balance that was taken out of the balance of the Wanda Loan by today’s regular Wanda Payment was $0.57, instead of the usual $0.80.

I will live, I am on track and I will make the day, somehow, someway I will be debt free, and then build up my savings and life, after achieving my freedom!

As always: Keep your head up, your attitude positive, and keep moving forward!

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