Freedom 36.25

My piggy bank is happy

Freedom 55, eat your heart out. Okay, maybe not.

Today I realized that I am one step closer to being financially independent (granted, that descriptor is still a while off yet). Specifically, whilst perusing my bank statements (online of course) I noticed that the last of my loan payments had finally been made. W00t!

The loan was taken out a few years ago. It was initially intended for RRSPs, but then the markets crashed and tuition was knocking – so while it started off as an investment, it ended up a life safer. And today I am happy to say that it is no more! My statement says that it has a balance of N/A. Meaning I owe nothing. Zippo. Nada. And I couldn’t be happier about that.

In the short-term, I know for sure that the loan ultimately lost me money – what with the markets having crashed and then me having to use it for something other than its original intention; but I don’t care. The loan help me survive over the past 5 years, and the overall loss wasn’t so bad that it put me into financial ruin. On the contrary, without this loan I would have been screwed near the end of my PhD years. So yay for the loan. And if I consider the fact that it covered my tuition for a few years, I really have to look at it as a long-term investment in both my education and ultimate career. So in reality, the short-term loss will easily be covered by a long-term gain. How’s that for making myself feel better?

For this eve, I’m just going to be thankful that I had the loan, and I’m going to go celebrate being one step closer to financial independence. Probably with a tasty scotch. Were you expecting anything less?

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3 Comments Add yours

  1. I am endlessly jealous. *glowers in your general direction*

  2. Beth says:

    Congratulations! Paying off a loan is so deliciously sweet – definitely goes well with scotch! As you know, I also made the choice to take loans so that I too could have a PhD. And while it costs me a lot in the short-to-intermediate term with respect to interest, it’s more than paying itself off in the increased earnings and job satisfaction that I have my career. Plus the satisfaction I get every time someone calls me *Dr.* Beth. You really can’t put a price on that!

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