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).