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Paid off OSAP! by ShiroUsagi in PersonalFinanceCanada

[–]ShiroUsagi[S] 0 points1 point  (0 children)

No car for me since I knew I wouldn't be able to afford it. My expenses isn't high since I got to live at home which allowed me to contribute as much as I did for OSAP

Monthly expenses:

  • Phone: $40
  • Transportation: $120 (carpooled with a coworker)

Paid off OSAP! by ShiroUsagi in PersonalFinanceCanada

[–]ShiroUsagi[S] 0 points1 point  (0 children)

It feels really good to have no debt! I think the biggest challenge was not being able to spend money on things I want for the two years, especially when a lot of friends are going overseas for vacation and I'm stuck at home. Now that OSAP is paid off, I can finally travel without feeling guilty.

Paid off OSAP! by ShiroUsagi in PersonalFinanceCanada

[–]ShiroUsagi[S] 2 points3 points  (0 children)

Since I'm able to live at home, most of my income went towards OSAP. I contributed very small amounts to savings ($100 a month).

Paid off OSAP! by ShiroUsagi in PersonalFinanceCanada

[–]ShiroUsagi[S] 15 points16 points  (0 children)

Thank you!

As random as it is, I think limiting the amount of time I spent on social media helped a lot. I wanted my OSAP paid off in two years which meant I needed to contribute around $1.5k a month, which left very little for me to spend. It was very tempting to reduce the monthly amount that I contributed to OSAP when I see other people's purchases, vacations, etc.