Sunday, February 17, 2013

Month 4: Debt Repayment Progress

Month 4 was a month of gaining back traction from January (the post-Christmas slump). Four months into this mission and...

We're down $948 from last month which brings us to:


Driving the Prius cuts my gas bill in half. And I love driving a reliable and good looking vehicle. 

We've been having some free and low cost fun this month. 

In reviewing a couple of our loans, we realized they have loan protector insurance on them. Since we have sufficient disability and life insurance, we don't also need these. DH is cancelling them on Tuesday since those offices are not open on the weekend and tomorrow is the Family Day holiday here in Ontario. 

I started preparing our taxes. This year, we thought we'd try our hand at using Turbo Tax to do our taxes so rather than spending nearly $200 on an accountant, we'll spend $50 on the premium package since I have self-employment income to claim along with other employment, social assistance (maternity employment insurance), education deductions, and child deductions for 2012. We usually get a pretty decent return so we'll really be able to put a dent in our debt repayment later this Spring paying off some of the smaller debts in order to free up money to put towards the larger debts. 

Here's to another month of hopefully getting fully back on track and making some serious damage on our debt. 


Mo said...

You could save even more money on doing your taxes by using one of the many online programs. The Revenue Canada lists reliable sites that it recommends. We've used the free ones for years now (we use StudioTax). My brother in law, who is an accountant, was the one that told us about them.
Take a look, if you haven't bought the other yet...

Kristy said...

Great tip! I will most certainly check out Studio Tax. I have not bought the software yet, just began inputting information but it won't charge until you're ready to submit.