Thursday, 13 October 2016

Ahead by $2.98!

Okay, so today was a Wanda Payment day. This means (because I notice these things), that as of 12:01 this morning the outstanding balance for the loan dropped.

So, I checked in this morning and found out exactly what that outstanding balance was. I had recorded what the outstanding balance was as of the day before.

This means that through my Wanda Payment Estimator Spreadsheet I could calculate exactly how much that balance actually dropped. 

It dropped $42.98 instead of the guestimate of $40.00 the bank had told me not long ago. Why does this matter?

Well, this matters because it is factored in to each payment going forward. So, that means that all of those $2.98 adds up and chips away even faster at the outstanding balance.

This is good news, as it looks like that it will be a stretch to even manage to put $1400.00 per payday aside instead of my target of $1500.00 per payday aside.

If this holds up it looked like I was going to miss target of Total Debt Freedom Day of Nov 7, 2017. With this little nudge, it is looking possible again. 

It is important to note that this number will fluctuate over time, and anything this far out is a wild (if somewhat educated) guess, but I need a target to shoot for.

It has been suggested that I up those Wanda payments to take a larger bite out of the principle, and pay less interest. 

For now, I like having more control over my money. If I increase those payments, I have to assume that the bank will not let me lower them down again. 

This way, I will still have low payments if I find myself suddenly “actively encouraged to seek other employment opportunities.”

This way, the money that I have (will) saved up to pay off Wanda will be my financial cushion, if need be. Once I give money to the bank, they don’t like to give it back . . . funny that. 

So, as far as Total Debt Freedom Day is concerned, as long as it happens sometime before the end of 2017, I’ll be fine with that, and consider it a win.

I will still be me, however, and do everything in my power to make the day and pay Wanda off on that day. 

After that, I will look to manage and handle the many media interviews and yes, setup the speaking tour across the country . . . and book deal naturally . . . 

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

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