A New Appreciation for EI

Whenever I'd get a regular pay cheque, a nominal amount was deducted off the top for Employment Insurance (EI). I never really thought much about it and just accepted it as part of the tax I have to pay for living in Canada. The only time it ever crossed my mind was when I maxed out my EI contribution for the year and they stopped deducting, at which point I'd think "yahoo" an extra $20 (or whatever it is) into my account instead of the governments.

As of this morning, when EI depositted $802.00 into my account, I have a whole new appreciation. It turns out that since I was "forced" to quit my job and move because my spouse had to relocate for work, I am eligible to receive EI. In Toronto, I was making $50k annually which works out to the maximum weekly benefit of $447 less $46 for income tax - $401.00 every week. They were a week behind in processing my claim so that's why I got $802.00 this morning.

I'm hoping not to be on EI for that long though. It's not that I'm adverse to using the system (I do pay into it afterall) but I'm starting to get bored! Last week I applied for four jobs and there's one in particular that I'm pretty excited about. The managing director of that position doesn't return from vacation until next Monday. So, next Monday I'm going to go in and submit a paper copy of my application along with some letters of reference.

Now that I know that I have a regular stream of income - $401 per week until I find a job - I feel comfortable getting my budget reset. S is going to pay our rent & groceries and I'll be responsible for the following monthly expenses:

*elecricity

*internet

*my mobile

*MS society donation

*paying off Visa #2

*making minimum payment on my LOC

*national student loan payment

This should give me some flexibility to pay off my Visa at a quicker pace. Today I put down $206.92 plus $150 from my line of credit bringing my balance down to $5,350.00. I can't wait to be back at $4,900.00 which is where I was before I fell off the wagon.

Current bank account balance: $889.24