Hello! Wow, well it has been months since I have written on my blog. As many of you know, Dom and I are now back in beautiful Victoria. The reasons for returning are not easy or simple, even though I seem to explain them that way hoping maybe the sadness will subside quicker I guess. It has taken me awhile, but I seem to have turned a corner and feel hopeful and pushing forward. Maybe one of these days I will write about the whole experience. We wouldn't change a thing, and would go again in the same circumstances.
We are completely broke, actually very in debt. My goal over the next year is to get rid of all the debt we have accrued, and I'm very determined. I am the only one working so far, and not getting much money. We are living in a basement suite of a house, no car. It may not be very exciting and most likely a bit depressing to read about, but I think it will help keep me motivated to write about it on here.
By my guess we are in debt to the sound of $12 or $13,000 Canadian dollars. I will have an accurate figure in the next few days, as I realize this is an important part of managing it. My other short term help ideas are to move to a cheaper rent unit as quickly as possible; contact companies for lower interest or move money; budget, etc. I hope to hear ideas from everyone and I'm actually getting pretty used to being the poor kid around (Dom not so much). Today I got a free pillow and lamp from generous people I work with. You might remember that we sold or gave away EVERYTHING.
Best wishes~~L
Link Pack
2 weeks ago
2 comments:
I'm sorry things didn't work out in Europe. Hope you haven't given up on the dream, though.
One of the best tips I've ever been given in terms of debt, is to figure out just how much interest you're being charged, and what the minimum payments are - that's your starting point. A snowball debt calculator is a great help: http://www.whatsthecost.com/snowball.aspx It will show you how much interest you'll be paying in total if just sticking to minimum payments, as well as how many years it'll take. Add the snowball effect (all the extra money you're able to throw at the debt), and you'll have a great downpayment plan that'll reduce both total interest and number of years. If credit cards: Pay off the most expensive card first - not necessarily the one with the most money on it. Savings on interest can be huge.
In order to figure out your snowball payment, you'll need a budget. Here's one that might work: http://www.buildingwealth.ca/personalfinance/familybudget.cfm
Hope this helps :-) Oh, Victoria is a beautiful place. Went to visit when living across the water in PA and Sequim :-)
Best wishes from someone who knows what it's like to have your world turned topsy turvy! I try hard to look at it like opportunity, instead of "how can this be happening"?? :-) So, again... best wishes!
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