Friday 5 August 2016

Back on Track

Okay, so this weekend is payday, Sunday specifically and I am thankful that I am doing business with a bank that is open on Sundays. So I can actually do my deposit and running around on Payday.

(I won’t mention their name because they haven’t sponsored me 

(Hint, Hint, sponsors? Anyone? Sponsor me?)

What this means is that I will officially be back on track from my Vacation by funding my Mid-Term Savings back up to minimum acceptable levels ($1k). 

Now I will continue to stuff all of my surplus cash into my Mid-Term Savings account. The difference is that when it crosses over $1500.00 I will then transfer $500.00 into my Long-Term Savings Account.

Why? Well, I still have that IOU to that High-Interest Savings Account from when I paused my paydown in May. If I put three blocks of $500.00 into that High-Interest Savings Account then I will have paid that off. 

This is important to me to do before the end of the year, as I want my Savings Plan to be back on track before crossing into the New Year. 

After that IOU is paid off then comes paying off my Low interest credit card that I put about 2K onto with: glasses, tires for Wanda, a new laptop, and a few other things.

Since this card is 4.25%, my minimum payments are still somewhere south of $20.00. Even now I am putting $150.00 per payday onto it to make sure that I stay in their good books.

After that is paid off, I plan to top up my Mid-Term Savings Account so that I could live for a year on it (post total Debt Freedom) if I needed to. 

If that somehow happens before January 2018 (total debt freedom) I will then just double down on what I put into the High-Interest Savings Account.

I have plans, I have goals all of which are achievable and will be achieved because I choose to believe in them, myself and yes work towards them. There is always a solution if you put your mind to it. 

There shall never be any prison so effective or cruel as the one you devise for yourself out of your own attitudes, outlooks and assumptions. 

As the wise man said:  “Free your mind and your butt will follow!” 

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

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