Saturday, April 30, 2011

Month End Report - April

Here's how the numbers sit as of April 30, 2011:

TFSA/ EEE Account $144.19 (up $55.23)
Xmas Fund $104.73 (up $70.03)
RRSP Savings Acct. $27.02 ( up $17.02)
Vacations Account $50.04 (up $40.01)

RRSP MF Acct. $1,255.67 (up $44.84)
RESP MF Acct. $25.00 (up $25)
Emergency Fund Acct. $71.09 (down $20.00)
House Fund $45.00 (up $5.00)
Biz Savings/5 Categories $0 (down $225.00)
Canada Savings Bonds $875.00 (up $140.00)
B's Savings Acct. $12.89 (down $72.32)

HBC Card (28.8%): $262.08, down $144.78
Personal Loan: $6375.50, down $160.00
MBNA Card (27.98%): $1,992.81, down $124.33
Capital One Card (19.8%): $4,096.56, down $22.68
Overdraft 1: $944.19, increased by $145.52
Auto Loan: $1,003.69, down $195.54
Tax Owing: $4,335.82, down $50.00
Biz HST: $4,839.00
Dental Bill: $1,301.10
Overdraft 2: $0, decreased by $380.80

Total Debt owed on January 1, 2011: $23,861.01

Our current total Debt owing: $25,150.75

Difference since January 1, 2011: + $1,986.67

Our debt has gone up since January? We've paid lots and lots of money, and yet we still incur more debt without trying. It feels like this will never end. How discouraging! Either I'm really bad at math, or I wasn't counting something in earlier, or we're just stuck in this hell called debt for all time.
This month end report does not make me feel any better!

Please leave encouraging comments below!


  1. Hey!
    I know how you feel and how it feels like it will never end! I have been there and am still there. But it does get better!!!

  2. Awww... Don't give up! Baby steps! ;)

  3. You have a 0 on Overdraft 2 and you will have your car loan paid in no time. you are making good progress overall. Keep your chin up!

  4. Go and add up what you owed based on your month end reports for the last 3 months. Somehow it doesn't add up properly. I'm no mathematician but according to my calculations, you paid down your debt by $843 in April so YAY!

    In Feb you owed: $26 506 (actual $26645 with corrected HST bill)
    In March you owed: $25 993
    End of April you owe: $25 150

    That means you dropped your debt by $1495 in 2 months! That's great progress!

    Don't give up, you're doing great!
    Have you looked into a consolidation loan to lump some of the payments together at a lower interest rate? Or, have you called and asked to have those high interest rates on your cards reduced? Like Gail says, it can't hurt to ask, and someone WILL drop them, you just have to press on till you talk to someone who is willing and authorized to work with you on the interest rates.

    It's all so overwhelming, isn't it? Just know that you are totally doing the right thing!

  5. Looks like your numbers decreased as only the overdraft increased by $145, everything else decreased so I would try a different calculator!!! Unless I'm missing something here?