<\/p>\n
Hello!<\/p>\n
I\u2019m on mobile so I apologize for the formatting. <\/p>\n
I am 25 living in Ontario and I have found myself looking for advice around my budget and debt. I don\u2019t need to get into the specifics but having a handful of years being undiagnosed bipolar that treads manic and therefor I had majorly manic spent along with poor planning, I have ~67 000 in debt. I have been budgeting the last couple months but I\u2019m looking for an outsiders opinion. <\/p>\n
Income after taxes and benefits and all that other jazz: 51 000 so 4200 monthly. I get paid on the 14th and 30th of every month. I have basically no savings. I am with RBC. <\/p>\n
Now my debts: Visa – 1000 – 19.99% – min payment 60 PC Financial- 16600 – 25.95% – min payment 377 Line of credit – 49300 – 5.2% min payment 230<\/p>\n
Now onto my monthly budget rounded up to the nearest dollar: <\/p>\n
Mortgage: 1008<\/p>\n
Home Insurance: 166<\/p>\n
Car Payment (I have 4 payments left): 284<\/p>\n
Car insurance: 133<\/p>\n
Water\/Hydro: 225<\/p>\n
Gas: 50<\/p>\n
Grocery: 200<\/p>\n
Pets: 100<\/p>\n
Line of Credit 230<\/p>\n
PC Fin: 400<\/p>\n
Visa: 70<\/p>\n
Window(paying rents back for a broken window they paid for – 525 remaining): 200<\/p>\n
Property tax: 200<\/p>\n
Internet: 100<\/p>\n
Phone: 90<\/p>\n
Gym: 170<\/p>\n
Fuel: 60<\/p>\n
Streaming: 20<\/p>\n
Total: 3706 <\/p>\n
4200-3706 = 494 remaining. <\/p>\n
Quality of Life \/ what I\u2019m doing:<\/p>\n
The gym is the one thing I would really like to not cut. <\/p>\n
I work from home 2 days a week and bike to work the other 3 days. I bring my lunch every day as well. I have stopped eating out entirely and am cooking every meal. I have 4 payments left on my car, as well as ~3 payments left of the window. That would free up another 484 a month. I am waiting for my benefits to process some HSA charges and I\u2019m going to be getting back 149 a month for 5 months equalling 894. <\/p>\n
So after my car and window are paid off by December I\u2019ll have remaining: 979\/month <\/p>\n
I am currently selling anything and everything I possibly can. Manic purchases and other random stuff I have accumulated are all posted on kijiji and fb marketplace. I am going to be building and selling dog agility jumps for profit for the dog training centre next month as well so that will be ~300+ income for a weekends worth of work. <\/p>\n
I would get a second part time job but with my mental health where it is right now it\u2019s not the best idea. I am in therapy (which is paid for) as I had a wee bit of an episode earlier this year and had to be involuntary committed to the psych ward and take a leave of absence from work so I would like to avoid putting myself back in that position. But it may be something I have to suck up and deal with. <\/p>\n
I am currently using YNAB to track and budget. I have no access to my credit cards and they are currently locked. I only use my debit card. <\/p>\n
My plan was to build up a months worth of expenses with hopefully the items I\u2019m selling, and then paying off the visa first, and then putting everything I can onto the PC Fin card and then tackling the line of credit. Do you suggest a different method? <\/p>\n
I\u2019m aware this is going to take 5-7+ years to pay off and that I have royally fucked myself financially but I\u2019m committed to doing everything in my power to do it as fast as possible. I am unable to house a roommate as I do not have a spare room. My car is pretty much paid off so I would like to keep that as is. It\u2019s a 2013 but in great condition and I just hit 100k a couple months ago. <\/p>\n
I hope this is enough information for y\u2019all to help me out. If there is any more information you would like to know please let me know. <\/p>\n
Thanks so much!!!<\/p>\n<\/p><\/div>\n
submitted by \/u\/NanaRae <\/a> Hello! I\u2019m on mobile so I apologize for the formatting. I am 25 living in Ontario and I have found myself looking for advice around my budget and debt. I don\u2019t need to get...<\/p>\n","protected":false},"author":1,"featured_media":24127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[10],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/27506"}],"collection":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/comments?post=27506"}],"version-history":[{"count":0,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/27506\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/media\/24127"}],"wp:attachment":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/media?parent=27506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/categories?post=27506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/tags?post=27506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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