Just wanted to give everyone an update. I have finally paid off my line of credit which frees up approximately $300 a month from now on! I will be using this money to pay off my car payments quicker.
I called up RBC (who provides me my car loan) and found out that I owe much less than I previously thought. Below is the amount I would have to pay to get out of my loan today.
|Cash – Chequing Account||$1,612|
|Cash – Everyday Savings Account||$454|
|Cash – TFSA||$308|
|Cash – High Interest Savings Account||$40|
|Investment – RRSP||$5565|
|Debt – Line of Credit||$0|
|Debt – Car||$17718|
|Total Net Worth||-$9739|