Getting rid of debts

I am currently on a path to rid myself of debts. My credit cards bills are slowly declining while my personal savings are slowly increasing. With fewer debts to worry about I can start helping out with bills around the house and help out some friends with their financial problems. I’m really not that big of a fan of money. It’s just papers and it doesn’t have any meaning to me.

As of today, I have officially paid off my Ontario Student Assistance Program (OSAP) loan. Well, it’s not official yet because the payment hasn’t been posted to OSAP yet. But according to my bank records, it has been paid. For the last month or so, I was under the impression that I had over $400 left to pay off. But my calculations were a bit off and I forgot to add in the amount that I paid back when I finished school. A friend told me about a website that I can go to if I wanted to find out the status of my loan. I registered and saw that I only owed $200 and not $400. With my last pay cheque, I paid $50 to my OSAP loan. And with the pay cheque that I received today, I paid off the balance in full.

I have online banking which makes things a lot easier. Without online banking, I would have had to wait until morning to go to the bank and withdraw the money to pay the online. But with the convenience of online banking, I can pay all my bills at 3:00am. I found out that at 3:00am my pay cheque gets automatically deposited into my account. I am usually up that late so as soon as 3:00am hits, I check my bank account and transfer the funds to the necessary accounts. By morning, the other companies will have their payments.

Usually on payday I am broke because by the time morning comes, all my monthly bills have been paid off. Whatever is left in my bank account is used for food and gas for the car. I am a lot more careful with my expenses these days. I try not to buy things that I don’t need. But if I do buy it, I make an attempt to save up for it first. Instead of paying with credit, I would prefer to pay with cash unless it’s a big purchase like a $900 camera. Then I don’t have a choice but to put it on credit card. But for something like that, it’s worth it because I do get rewards points for buying things with my credit card. Whether or not I’ll get a chance to use those reward points, I’m not sure yet. But for the time being, I’m just glad that I’ve rid myself of another debt.