This is a financial blog. I will use it to document the ongoing reduction and eventual elimination of my personal debt. I imagine it will have inspiring charts and things like that. I know myself well enough to expect many steps forward, with a handful of steps back.
I am self-employed as a consultant, and I also have had a full-time job since October 2009. I was raised by bankers, and work in the technology sector. I am single. I am raising two children. I have a good credit history.
How I got here: I was without income for 6 months in 2009. During this time, I completed an international adoption which went over budget by approximately $20000.
My biggest going concern is my line of credit, to which I currently owe $11500. The credit limit is $20000. I have just realized that I will need to borrow an additional $1600 from it in December to pay my next Visa bill.
I also have a mortgage, a car loan, and an adoption loan.
It is fiscal year end for my incorporated company. Tomorrow, I am taking the shoe box of receipts to the accountant. I expect to owe additional money: to the accountant, and to CRA for the new harmonized sales tax and for corporate income tax. I have no idea how much is owed, but I hope it is less that $7000. I have a very good accountant.
It is time to clean up the mess.
