Saturday, August 01, 2020

Update on my debt reduction and fizzy drinks

Being in a pandemic for months has been unnerving and uncertain. One positive that I have mentioned in the past is that I'm not shopping all that much, other than for essentials (groceries and medication), and the odd need (computer eyeglasses).

Because I haven't been commuting to work, I have saved time, money, and aggravation. With money, I have saved so much that I have been putting that money towards my emergency fund and retirement savings (it's called a Registered Retirement Savings Plan or RRSP in Canada), and paying off my debt.

For a few years now, I didn't have an emergency fund. Either my paycheque was that fund or I'd have to dip into my RRSP. I was not proud of doing the latter, but it did help. I am so pleased that I have an emergency fund for unexpected expenses at long last. I hope that I don't have to dip into my RRSP again.

I have been building up my RRSP. I have regular monthly payments that I contribute to my own plan. I also have a certain amount put into my RRSP plan with my employer. I have contributing a bit more, which makes me feel good.

I have also been paying my credit cards in larger amounts. I'm extremely happy. Progress is good.

Even though I haven't been shopping that often, I decided to treat myself by buying a Sodastream machine. It basically makes tap water fizzy.

Why? Well, I drink tea and diet pop. With the latter, it's time to reduce the number of cans and bottles that contain pop. Instead, I can make my own carbonated drinks and reuse bottles.

I pick up my Sodastream machine later on today. I am looking forward to figuring out my new hobby!

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