All I’ve done so far in 2009 is complain – I’m sick, I’m sore, I want a house – but I haven’t actually done anything to improve upon my situation.
Change is slow with me.
I did some research into mortgages this week, and actually contacted a mortgage specialist. I wrote down my own monthly expenses and added them up, and got a ballpark figure from Laird for his. Seeing those numbers and reading what little I could find made me realize that I can’t continue on as I have and buy a house any time soon. I am spending more than I reasonably should, and too much of it is coming off my credit card or line of credit for no good reason.
So, I took my chunk of savings and paid it onto my chunk of debt, because the debt was costing more interest than the savings was earning. My savings is seriously depleted but so is the debt, and I have no intention of running it back up.
I’m putting a hold on spending. I don’t need more music from iTunes or more clothes (my new wardrobe is sufficient) or new shoes (enough, already). I don’t need more TV DVDs. I don’t need more blank books or paper supplies or glue or anything, really. I don’t need a DSLR because guess what? I don’t have time to learn the crafts and hobbies I already own the supplies for. Digital photography can be something I make time for in the years to come.
I have everything. I’ve got things everywhere, and no place to even put them. What I don’t have, and what I really want, is a house. So, every time I want to buy something, I’m going to either put that money in my high-yield, tax-free savings account, or buy something specifically for the house, instead.
I have been feeling sick a lot lately and haven’t been eating well, in a circular pattern I’m stopping because I am cutting way down on eating out. 2-3 times a week is far too often, in terms of wrecking my digestive system as well as cutting deeply into my bank account, again for no good reason. It’s not like I can’t cook or don’t like it. I’m lazy. It’s got to stop.
I got my T4 today and did some quick math, adding my jewellery income and figuring out the taxes owed. What with the extra taxes I had the payroll office send off with each pay, I will still owe about $500. But then with my RRSP deductions as well as the deductible for our health plan, I should end up either at zero or even on the gain side when it comes to tax returns this year. My plan to push my jewellery all year to double my income from it might leave me in the lurch for next tax season, however, so I thought to almost double my extra monthly contributions to offset it for next April. But then I had an idea: what if, instead of giving that money directly to the tax man, I put it into my RRSP instead? The end result – needing to pay fewer taxes at the end of the year – should be approximately the same, plus I’ll be contributing towards my retirement fund at a quicker pace. So I think that is my plan there, although I need to speak to my financial advisor about it first.
Change is slow with me. But it’s slower still if I never start.