Tuesday, 11 April 2017

The Bank People Know Me

Back in January when I started making extra payments on the Wanda Loan it took on average of 4 -5 business days for it to process.

That means that the cash would sit in my account for 4-5 days until it actually hit the loan. 

Well there is an advantage, it seems, to being predictable and making regular payments on the Wanda Loan.

This last payment I put the notice in after I got paid (as in Friday Evening). Well, I noticed that come late Monday Afternoon that the payment had already been processed.

So, Woo Hoo and good job, to the bank staff! I am now within a payday of breaking that significant (to me) barrier of $20k on the Wanda Loan.

My budgets are still quite tight and I am draining more out of my savings than I had hoped, and will over the next few paydays, which is concerning.

I am also making a few significant steps forward. The last payday was to pay for my May Long Weekend (de-winterizing/spring cleaning).

The payday on May 7th is to pay for Wanda’s Insurance. This next payday is just because my budgets are hopeful and my upcoming paycheque looks dismal.

I have thought about either: 

1) Cutting back on the extra payments on the Wanda Loan
2) Draining down my Personal Overdraft rather than savings.
3) Drain my Long-Term Savings

I have decided to keep trickling funds from my Mid-Term Savings for the time being and just run deficit budgets when needed.

Things will turn around and I shouldn’t run out of savings anytime soon, though. I will carry on and meet all of my objectives.

I will be totally debt free with no contractually obligated payments before this year is out.

I will have my paycheque back (payroll taxes notwithstanding) let’s face it we’re never getting rid of those). 

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