canadiandebtgirl

Making More Money

In Uncategorized on March 15, 2010 at 12:59 pm

One of the things Gail Vaz-Oxlade always insists on when she helps people on her show Til Debt Do Us Part (my long-time TV show crush) is that to help get yourself out of debt, you need to make more money.

I’ve known this for as long as I’ve had my debt repayment plan in place. It makes sense. You want to pay off your debt as soon as possible, as fast as possible, so you pay the least in interest and get to your DEBT FREE DAY sooner.

Well, I’ve done it!

I will be contributing an extra $400 a month to my debt. My income increased!

It just goes to show that you CAN get what you want, but you do sometimes have to suck it up and ASK for it. I sucked it up, and I asked for it, and I got exactly what I wanted.

My salary is substantially higher now, and it fits into the bracket I was at 2 years ago when I left my old job to start a new career.

Two years to climb back to where I was? Not bad!

If you recall, I posted about my D-Day back in October 2009. Back then, I was hoping I would be getting this raise, and with those hopes in place, the plan I had would have me free of debt by November 2011. You’ll see below that I have moved my debt free day up to August of 2011: a whole 3 months sooner than planned! This was as a result of the aggressive payments I made to clear Credit Card #3, and the negotiation of a lower interest rate for Credit Card #2 (from 18.5% down to 11%), and now the increase in my salary.

Credit Card #2:
Old Repayment Date: January 2011
New Repayment Date: August 2010

Credit Card #4:
Old Repayment Date: October 2012
New Repayment Date: August 2011

Old Debt Free Day: February 2012
New Debt Free Day: August 2011 – less than 17 months away!

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  1. Nice!!!! Don’t you love seeing the debt #’s go down faster?? Congra’ts on the raise! 🙂

    http://www.halfdozendaily.wordpress.com

  2. Wow congratulations!! It is such an indescribable high to see it drop eh?

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