Thursday, May 17, 2012

Coming Back and New Goals

I have missed the blogging community greatly. I felt like I was part of something, and then I was missing out on the friendship and sharing. But it had to be done. I had so much to say, but I was under wraps for awhile (self-imposed). I know me. I have trouble keeping my mouth shut, lol. But now, I can talk a little more freely about what has been happening.

The big news is that the company I work for has opened an office location right here in London. I'm still working part-time hours, and if all goes well, I should be out from under my probationary period in the next week or so. This will enable me to serve my client families more efficiently.

My goals for working with this company are to become a full-time employee, to gain status as a managing director, and eventually be able to 'buy-in' as silent ( Ha- who am I kidding? I'm never silent!) partner for this location.

In anticipation of major changes ahead in the next few years, I'm forging forward with personal and financial goals also.

Toward the beginning of the year, I opened yet another RRSP account at my bank. I put a small deposit in, and left it be. No further deposits to date. After thinking about it for a time, I realised that I could use this account as my 'Home Down payment Fund'. Using  the Home Buyers Plan, I can 'borrow' my own money from my RRSP, up to $25,000 toward the purchase of a home. Meanwhile, any deposits I make will count toward my RRSP contributions for that year, giving me a small break on the amount of tax I will owe.

Still with me this far? Good.

I will still have to 'pay that money back', but since it's mine, there won't be any outrageous interest fees associated with it (at least none that I am aware of). Just a repayment schedule that the government defines.

So off to the bank I went, and signed a paper to say that they could take $25 per pay out of my chequing and put into the 'House RRSP Fund'. I know it will take me a hundred years or so to save up a down payment at that rate, but it's a starting point, ya know?

Seeing as I've hit the big 4-0, I've been thinking lots and lots about where my life is headed, where I am right now, and where I want to be in the future. I want to have a home of our very own, however modest it may be. I want to have money in the bank should the day ever come that I want to semi-retire. (I'm pretty sure if I ever fully retire, it will be due to health reasons only.) I'm putting away money to help partially pay for my kids post-secondary educations. Our debt is almost gone...Can you say U-RAH to that!!!! We've finally gotten that consumer debt monster down to something manageable.

On the other side of the coin, it looks like we will be shopping for a newer vehicle this year. Well, we have been looking for awhile, and I have absolutely nothing saved up for a new van, but we will need to replace it I think. A van is vital to my employment, so hopefully we can get a good deal on a 1 or 2 year old used one. I'm hoping for a Dodge Grand Caravan with Stow-N-Go seating, but we will see. I will not be taking out another 7 year long, $28,000 car loan, that's for sure.

One of these days, I will get around to updating my reading list. I've read a ton of books over the last little while, which has certainly helped my keep my shopping habit under control. Speaking of shopping, I'm working at the couponing again to keep our grocery costs down with budget limits. I think this is the first May in the last 5 years that we have stuff in the pantry, cupboards and freezer and I don't feel like an unfit parent. I'm anticipating what we will need over a given period and stocking up (not extreme couponer style) some of the things that we regularly use when its on sale.
I'm feeling good about life these days. I hope it lasts.

What are you feeling good about today?


  1. Wow you have been busy making plans!! When saving for retirement or a home every little bit helps, someday you will have the money you need for that house. I think shopping sales using coupons is a great way to save a whole lot of money and having what you need to make meals already in the house saves even more!! Good luck with your new road map to the future!!!

  2. Welcome back! And U-RAH for sure to being mostly debt free! I think your career plans sound pretty good. Hopefully it all works according to plan. The opening of the house RRSP is a good idea, and you're right, a small amount is something. It can turn into a lot by the time you decide to use it.

  3. Wow sounds like a lot going on! Good luck with your career goals.

  4. It's good to feel good. It spreads to other people pretty quickly like a fire.

    I think I just feel good about life all around today. Everything is under control and going forward smoothly.

  5. well you have been busy! congrats on the job, it sounds like it a good career move.

  6. I did that with my RRSP Eboo and just finished paying it back this year so they spread the repayment schedule over 17 years! Each year when I would make an RRSP deposit at tax time the gov't would deduct their amount. It was super convenient and super easy - it's like having your cake and eating it too!