Personal finances: $ 15,000 in the hole $ 50,000 in savings

A Montérégie trucker managed to get rid of his imposing debts and build a security cushion of $ 50,000 in a few years simply by changing his habits with money.

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Life is sometimes. Nevertheless, a long series of misfortunes. Therefore, This is what Jean-Marc said (he asked that we were his last name) in 2018 when his marriage collapsed. Moreover, that he ended up alone with debts of about $ 15,000 and young children in shared guard. Similarly,

“Separation awakened me. Furthermore, I really became aware of the cost of living. Therefore, because it was the first time I had to assume everything, rent, electricity, grocery store, “he said, backed by his truck after a long day of work.

At the personal finances: $ 15,000 hole time, Jean-Marc worked 40 hours a week as a distributor in a trucking company ($ 18/h). Once all of his expenses covered, he only had $ 40 left every two weeks.

“This is where I started looking for solutions to have a little more air,” he explains.

Discipline

The list of “little things” used by the Quarantaire over the years is very long. “When I save the grocery store because of a discount, I put this amount aside. When I save in a store because of the company’s corporate discounts where I work. I put the difference in my savings account. I buy used. Additionally, I make my grocery store with cash, to be sure not to exceed a certain amount, ”he lists with enthusiasm.

Thanks to these “little things”, Jean-Marc managed to get rid of all his debts in two years. “There was no going back. I made a personal finances: $ 15,000 hole strict diet. I did not buy anything that was not in discount, I did not make any madness. By the book For two years. No outing, no restaurant, no new linen, ”he said proudly.

Will

Above at the same time, he obtained a salary increase of two dollars an hour. With the additional amount it represented at each pay. the father of two children paid for training to become a trucker.

Five years later, this investment proved to be paying. Jean-Marc now wins $ 27 an hour-50% more than he won in 2018-and he managed to put aside $ 50. 000 in the past five years, continuing to be disciplined.

“When I started to save, I had no financial education. I did not finish my secondary 5, we did not talk about money at home when I was young. So I went to the simplest: check account, and savings account. personal finances: $ 15,000 hole Just with that, I managed to save money, and I feel less vulnerable to bad lucks“, He concludes.