So this week has so far been an interesting one. First we finally booked our trip to Disneyland.. WOOOT.. leaving Jan 18. We wanted to book it quick so we can plan for it. We are taking our friends two girls with us cause they are basically like family. The problem was that with our savings and the sale we were still 500 short. So I had to borrow it from the Line of Credit.
So here is the interesting part of the week. I had enough money to pay off the card in Australia.. nearly $900. So I paid that off. Now I bet some of you are thinking why I just didn’t use the money from that fund to pay for the tickets and then replace with the budget. Well I thought about that and this is the reasons why
- The interest is 21% on the card compared with 7% with the line of credit
- Each time I send money to Australia there is a transfer fee of $40.00
- Having the Aussie card/s paid off completely can allow me to focus on the Canadian Card and line of credit.
So that is why I did that. I paid off another credit card in full but borrow money to pay for the trip. So really my total debt only went down about $400.00 but ill be saving money on high interest and fees to send money..
AND we got our trip booked for Disneyland. Flights, hotel, 3 day park tickets and transfers $2500.00 for a four star hotel right next door to the park.. now comes the saving for the spending money.. and the research on how to save money while at Disneyland. This should be an interesting one.