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Saturday, November 28, 2009

Change of Budgets...

Yesterday was payday and I am going to put $1000 toward my family loan. I will update my progress bars to reflect this change. My original goal was to put all my effort into debt-repayment before starting any sort of savings plan. However I spoke with my family yesterday about this and they said that it's okay if I want to take my time paying them back. I will aim for $3000 by the end of February and hopefully the rest by July.

I think what I will do is send in a cheque to ING and open up an account there. Then start contributing some money each month to start a TFSA with ING. I also think that I am going to change my budget, as it is not really working that well for me. I often end up overspending in certain areas and underspending in others depending on the month. So I think that I will take an approach that Jessie has taken and plan my budget dependent on each paycheque. This will also be helpful because I have such a variable income.


  1. Hey there!

    I see that you are going to open up an ING account - that's great! It's an easy way to stay organized with saving.

    If you haven't opened your account yet, you can use a referral code to get a sign-up bonus. Mine is 17396382S1 and the link to ING is http://www.ingdirect.ca/en/signmeup/index.html. If you use my code, we should each get a $25 bonus!!

    My mom did this a month ago or so, it was pretty great!

  2. I have never opened in ING account. Perhaps that will be one of my 2010 goals. Good for you for signing up.

  3. It seems like a good banking system. ING and PC. They seem to have good interest rates.
    I have already signed up for the account Jessie (sorry!), and my deposit is in the mail. Otherwise I would have totally done that. Thanks though!

  4. Sounds like a great plan. I like that you're going to do a bi-weekly budget. It makes much more sense given your variable income.