Lifelong Learner Plan...
So I did it!
I withdrew $3000 from my RRSP.
It sucks. My balance went from $5500 to $2500.
I have 5 years to repay. I plan on doing it in 1 year.
Borrowing money sucks. Especially from yourself because you're loosing interest.
At least I'm not paying interest or getting slammed with taxes for early withdrawal!
Overall, it was an extremely easy process though. I walked into the bank with a copy of my university timetable. Asked the mutual funds lady to withdraw $3000 for school. Filled out two forms (one for the bank and one for the government). Waited patiently for the lady to call for approval. And it was done. This all took less than 30 minutes. And the lady wasn't the most competent banker. [I say this because my old banker, who is now the branch manager, was AMAZING so I have high standards].
That was Friday, by Monday I had my money. It could have been sooner but I make a habit of not checking my accounts on the weekends. No need to stress about money on Saturday and Funday (I could pretend that's a typo.. but it isn't).
So now I have about $4500 to my disposal for the next three months, which is perfect. I probably won't need it all but I much rather have the cushion there until I start working again.
Oh to be working again!
That's all my friends,
Saving my pennies. :D