So I called the bank today to cash in some of my RRSPs. After the giant chunk of tax was taken out, I now have enough money to get my chequing account out of overdraft (it’s just over -$600) and pay off my student loan (finally!!) which is $1991.12.
That will save me $237.82 per month (my monthly student loan payment) and will save me about $100 in student loan interest this year.
Now I’ll have to wait until I get home from work today to figure out which credit card I can pay off with the remaining RRSP money.
