Debt Payoff Report – September 2017
Did September even happen this year? I think I missed it.
The only thing I remember about last month is that the Bank of Canada raised interest rates again. It’s always stressful when the amount of interest on your debt increases. It feels like you’re climbing up a hill of sand and suddenly you slide back as it shifts under your feet.
I’m fortunate to have room in my budget to cover the increasing debt servicing costs, but I know there are so many Canadians out there who are stretched thin and bridging the gap with more credit. Let’s treat these interest rate hikes as extra motivation to collectively crush our debt, shall we?
Including interest, I’ve paid $2,444.42 to my debt this month.
I’m under six figures! I’ve been processing my emotions around that milestone for the past few weeks, and I’m still not sure how I feel about it. In a way, reaching that goal felt like the end of something. Really, it’s just the 24% mark. I can feel the momentum taking over as I pay off larger amounts, but I’m impatient for a finish line that’s still far off in the distance.
What’s up in October?
With a raise and retroactive pay, October will be my best month yet. Also, Super Mario Odyssey!