Financial Progress

This is my current financial situation as of April 30 2014.

My debt is large but I’m also not in a position to be diverting all my extra money towards it.

My minimum payment for my OSAP is $300/month, but I’d like to put at least 400 towards it, especially since my short term plan is to return to school in the next 12 months.

I’m very proud I do not have a balance on either credit card, and have no other outstanding debt.

My plan is to build up my emergency fund, prepare a cushion for potential school and then put remaining money towards my current student debt.

This debt repayment plan is 14.5% of my net pay, well in line with Gail Vaz Oxlade’s recommendations. My savings plan is between 25-30% of my net pay, which is massive for me!

Hopefully one day I’ll stop needing to go back to school!

OSAP Trip Tuition for 2014 Emergency Fund
Have 5434.35 600* 6000 2662.78*
Needed 20275.46 600* Saved and spent in Vancouver April 2014 6000 3500

One thought on “Financial Progress

  1. Pingback: Financial Goal Reached! (mostly) | Prosperous Not for Profit

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