February Financial Recap

Lets talk numbers.

I am not prepared to show you my income slips, however, I am willing to discuss with you my achievements this months in terms of debt repayments.  Or, I guess, my achievements in trying to get my financial life together.  February was month #1 in my journey to student loan repayment debt domination. Lets take a look at how I did, shall we?!


Can we talk about the fact that I made a budget?! I vaguely mentioned it before in another post. It was a simple outline of a budget – I just broke down my paydays into what money needs to go where from what payday (I did this on a piece of paper, hand written in my finances notebook); leaving me so much money left for debt repayment and living. I need to make bigger payments on my loans than the minimum required or this journey is going to take longer than my degree and diploma put together.

On my current budget, in my current life situation – my freedom will arrive in 42 months from now (hopefully sooner); at the cost of approximately $42,000.00 CAD (the rounded amount of what I owe to the combination of Alberta, Nova Scotia and Canada Student Loans) –  if you are wondering – this freedom should arrive by September of 2020. Also if you are wondering (or can’t do basic math) that is a $1000/month of debt repayment. Which is decent amount for me to liberally throw onto my debts and not just spend on my current day to day life.

I got a little behind in my loan payments back at the end of December. So February was really a game of catch up. But, with my budget in place it made it very easy for me to catch up. With 3 paydays from my part time job in March, I should be right on track to make all the extra lump sums in March. I am very excited.

When I got real and looked at the numbers  – like what my statements said in print; how much I actually owe. The amount owing on my Alberta student loan was $32641.02. I am starting with the smallest of the 3 loans in hopes to jump start my motivation. My minimum monthly payment is $18.40 … and this month I officially drop below the $3000.00 mark.


I  just shaved $20/month off my phone bill from cutting off my call USA any time package. I put that on my phone while I was working on a project in the USA but I am unsure where that project is going and refuse to pay for things I don’t use.

I took over the lease in the apartment that I currently live in so this month my lease came up for renewal. When my building manager asked me about resigning I asked her about rent incentive to stay. I actually just really wanted my rent to stay the same but instead they knocked $70.00 CAD a month off my rent.

So that is going to save me $90.00 CAD a month. (Budget updates obviously in the making.)


February Challenge Repayment; Total Diet Coke spending and extra payments on my Alberta Loans $ 61.72

March Challenge; Health challenge: Just stop drinking Diet Coke.

So there you have it. I seem to have taken a few huge leaps forward in taking control of my finances. At the end of March I am up for another repayment assistance application. So fingers crosses. I will update my progress again in the beginning of April, how my loan deductions are progressing etc. I should have my Alberta Student Loan paid off by mid May (then onto the Nova Scotia Loans). All while still living a normal – ish life.

Any tips, tricks or lucky break on paying back loans I would LOVE any insight.

COMMENT BELOW. (and if you want updates in your inbox hit subscribe – it’s free, I promise)



Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s