I received my $19,467 cash lump sum pension payout

Yeah, so that ^^ happened. It took 9 weeks for the pension people to process my paper work. I’m getting about $79K deposited in a LIRA at Questrade and I received my cash lump sum payment with 30% taken off for taxes.

I immediately paid $2,235 to my MBNA Mastercard. I paid $815 to the CRA for taxes I owe. I put $15K into my line of credit at 6.7% interest. I still have $14,888 outstanding on another Mastercard but I’m going to wait until March 13 to pay it since the 0% interest promotional period is over on March 17. That’ll save me about $40 in line of credit interest for this month. I also socked away $220 for our elopement fund and set aside cash for this month’s expenses. It’ll feel good to finally use cash/debit.

How do I feel? I feel like I cheated the system and that I didn’t pay my debts through hard work. It’s silly to feel that way because it is my money that I saved but I am taking away from my future retirement money to pay my debts.

How much debt do I still have? I now have over $14K in consumer debt. I never thought I’d get to this point. To put things in perspective, I had over $81.5K of debt at the end of November 2014.

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