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View Full Version : what debt are you tackling now? how's it going?


abmitch01
05-18-2010, 03:01 PM
I'm working on paying off my car that I bought last June. not used to having a car payment, usually save and pay cash plus a trade-in. This Jan, I started paying a month or two ahead with the car and the mortgage so when we went to WDW in May, I could use the money that normally went to these payments. Now, however, I'm ready to start paying down the principal in earnest. I'd like to pay it off by Jan and max out my Roth this year, too and continue aiming for maxing out 401k contributions. I've been stashing cash and will pay a chunk of the car principal this month. The 401k saving comes out of my paycheck automatically. the Roth is more challenging, I'm hoping to have at least 2 stockpile garage sales this summer to help fund it.

Think these goals are a little unrealistic, though, lol. What's your goal, feel like you can reach it? any secrets for squirreling away more cash without feeling too much pain?

Aisling
05-18-2010, 11:25 PM
Giving your thread a bump and hoping for replies!:thumbsup2

thebigkahuna
05-19-2010, 07:56 AM
good plan! I say go for it - even if you don't reach all of your goals, you will still be ahead of the game.

I just finished paying for the car, and now I'm all over 3 things - 1 is my credit card, 2 is another credit card, and the 3rd is an old debt that I honestly thought was paid, but, well, I was wrong. :confused3:laughing:
I'm doing well, 98% of the time I'm paying at least double (if not more) of my monthly credit card payments.

I'm totally doing my best to stay positive. I just keep paying them down, and extra if I can. Turns out life is expensive & sometimes other things take priority. (hence the reason for my credit card bills!)

I'm also working on a Disney trip in the fall. A "cash only" trip. As important as that is, my debt goals come 1st.

rszdtrvl
05-19-2010, 09:31 AM
We are doing the "one step forward, two steps back" thing right now.

We paid off DH's credit card, then charged our vacation for Jan 2011 on it. However, his credit card gives us points, so we did so on purpose. Anything over $500 is charged on that card. I love me some Amazon.com gift certificates!

Right now, we will have his card 100% paid off again, and don't plan on charging anything on it any time soon.

We just paid off DH's credit card, and now will work towards mine. It is going to take a while - I believe my balance is around $3,000 or so.

We are taking a lot of stuff to the local auction house that is cluttering up our house and that money will be automatically put into checking and a check will be written for that entire amount towards our credit card.

No clutter + extra $$ = :goodvibes

scard192
05-19-2010, 09:47 AM
I'm thinking of paying off my mortgage 8 years early. I have enough money in the bank (small inheritance) to do so and still have an 12 month emergency fund. I've been maxing out my 401K contributions with this inheritance but started thinking about paying off the mortgage. If I pay it off now I will save $5400 over what I would have paid over the next 8 years. Turbo Tax had me file a 1040A the past 2 years because that was better than itemizing my mortgage interest and property taxes.Things holding me back are what if I might benefit in the future from itemizing? Also, property assessments have dropped in the last 2 years, what happens if/when they go back up? Not sure I am ready yet to give up the possibility that itemizing in the future could be better for me than using the Short form. On the other hand $5400 divided by 8 = $675, itemizing would never increase my tax refund by that much per year.

summersalt
05-19-2010, 09:51 AM
On Feb 12, my DH and I decided to start living from a budget and paying off debit. So far we have paid off 8,072.00 in debt!!! :thumbsup2:thumbsup2

We are currently working on cash flowing our DD's braces to the tune of $5100. :eek: and paying off the credit union Visa. We've got it down from $4300 to $2500.

Not to shabby, huh?

1-disneyfan
05-19-2010, 10:24 AM
Wonderful thread.....Thank you!

My husband and I have so far this year, paid off 25,000 in CC debt :scared1: ya, we had a couple really rough years with my parents getting sick and out of town and out of state hospital stays. Anyway, as wonderful as it is to have paid that much off we still have more. We have one more CC it's our Disney card, which we still owe 5,000 on. Our plan is to have it all paid off by Sept. we have a Disneyland trip planned in November knowing we will not be using the CC for it :cool1: For me to keep focused on our finances, I have been watching Dave Ramsey and Til Debt do us Part. It just shows me we're not alone in this debt battle.

Best of luck to you!

Kris

Tinkerbelle9980
05-19-2010, 10:44 AM
Currently we are working on a couple of credit cards. One of them was supposed to be paid off this month but we have been hit with too many unexpected expenses. I guess I should just be glad that we had the money instead of dipping into savings.:)

daleswife
05-19-2010, 11:22 AM
my truck!!! Its got 133000 miles on it and we owe way too much on it. We have started paying $50 more a month on it, which is not a lot compaired to what Ive seen above, but we are proud of it. Then its our House. Our house pmt now is only 320 so once we get the truck paid off we should be able to put that extra $500 toward the house almost tripling our payment and we should have it paid off in 6 years or so....Im excited.....But we only have one income and its tough.

Its like the PP said, One step forward and two steps back.....

disykat
05-19-2010, 11:29 AM
Wow - people are doing great! The only debt we have is our house and our goal was to have it paid off by the time our kids went to college. It looks like we'll have it paid off next April, right before our son graduates from high school. :cool1:

As long as the cars last until they get through school, the roof lasts, etc. we'll be looking good!;):eek:

aduck126
05-19-2010, 11:36 AM
we are working on paying off school loans, about 20K for both of us.
we just paid off my car.
earlier this year we paid off all credit cards. we bought a house that didnt have appliances so we charged them all. so now we have no credit card debt.
so pretty much all we have are school loans and our mortgage, we are doing pretty good for a young couple. time to plan a disney trip!

abmitch01
05-19-2010, 12:12 PM
it is very motivating to hear other people's stories, thank you!

today I started thinking about some serious destashing to add to my garage sales. the kids and I have just way too much stuff. We shoul start a two items out for every new item in rule.

AmongMadPeople
05-19-2010, 03:10 PM
By the end of the summer our CC debt will be paid off - only 3000 left. In the fall my student loan will come out of forbearance so all of our extra money will go toward that. It's small though, only 3000, so it will be paid off by late winter. Around the same time my car will be paid off, so I don't know what we'll do after that!

Oh, it feels good to type that! I can't wait until next year!

rszdtrvl
05-19-2010, 03:28 PM
Our vet bill today was only $75, and we budgeted $140, so the rest of the budgeted amount will be stuck onto our credit card too.

I am going to need to buy more stamps, just to keep making these weekly payments!

I made up a word perfect paper that has : Cardholder name, account #, and payment amount. And pre-addressed envelopes with the credit card company address. That makes it so much easier and convenient to get a payment in the mail!

Nebraska_Disney
05-19-2010, 04:00 PM
My wife and I are both in our mid 30's and have two kids (5 and 8) and both work full time outside the home. The only debt we have is our house (12 years left at 4.75% interest) and one car (48 months at 5%) and a home improvement loan ($8000 left at 5% interest). Last fall we also bought 60 acres of land and paid cash for all but $25,000, which we borrowed from my parents and are paying back with just 2% interest. We have no credit card debt and pay cash for all vacations. We put $250 a month into our college plans for each child and both have Roth IRA's that we fund fully each year as well. When I did our taxes last year, we ended up saving (in some way, shape, or form) close to 20% of every dollar we made. With the market being down the last few years, we have doubled up what we have put in, hoping to reap the returns as the market rebounds. We will have our car, land and home improvement loans all paid in the next 5 years and will take most of this money and put it into our retirement accounts. We live by a budget and never want to be hit where we are struggling with "bad" debt.

For those with "extra" money in the bank. Right now, savings rates are at 1% or less....so paying off those debts that are much higher is like earning the difference, as you are paying off the debt earlier instead of earning 1%...that is a no brainer if you ask me.

Good luck folks

MommyJack
05-19-2010, 04:47 PM
I'm thinking of paying off my mortgage 8 years early. I have enough money in the bank (small inheritance) to do so and still have an 12 month emergency fund. I've been maxing out my 401K contributions with this inheritance but started thinking about paying off the mortgage. If I pay it off now I will save $5400 over what I would have paid over the next 8 years. Turbo Tax had me file a 1040A the past 2 years because that was better than itemizing my mortgage interest and property taxes.Things holding me back are what if I might benefit in the future from itemizing? Also, property assessments have dropped in the last 2 years, what happens if/when they go back up? Not sure I am ready yet to give up the possibility that itemizing in the future could be better for me than using the Short form. On the other hand $5400 divided by 8 = $675, itemizing would never increase my tax refund by that much per year.


One way to figure out if it is a good idea is by looking at what you're paying in interest on your mortgage. If you think you can make more by investing the money than you're paying in interest, don't pay it off, and invest the money. Otherwise go ahead and pay it off.

DawnM
05-19-2010, 05:28 PM
Wonderful!

We only have morgage and honestly, I wish we didn't even have that anymore! I hate owing anything!

We have a 15 year loan and may sell and downsize to get everything paid off even sooner.

Dawn

mrodgers
05-19-2010, 05:35 PM
It's so easy to pay off debt...... when you have money!

I was reading the debt section of a financial forum site quite a bit until I just got tired of reading all the ridiculousness. Someone would post that they are in trouble financially with credit card debt and when asked to post the specifics so folks could help, they post stuff like $30,000 in CC, incomes of $90k and $125k for the husband, 2 $40k cars, $500k homes along with the expensive summer home, private schools, expensive private lessons for this or that for the kids.... It was ridiculous.

I'm with aduck126. We bought a house, which did have appliances, but they were original to the 1968 built house. The refridgerator didn't have a handle on it, it had a foot pedal to open it. The washing machine instruction manual had "Whirlpool, the appliance of the 70's!" on the cover and used a <gasp> 23 gallons of water or something like that. Not good when my wife grew up with well problems where they all couldn't even take a shower in the mornings or they would run the well dry.

We also had a baby a month after buying the house. All was good the first couple of years, we did use the CC to buy replacement appliances, but then the beginnings of the economy crash started. The economy crashed in the late 2000's for the well off folks, but for the normal folks, it started much earlier. The early 2000's is where the corporate greed caught up resulting in smaller and smaller income increases for the working folks with higher and higher rising prices. All of a sudden, not only did we need to pay off the appliances we bought, but now could not afford food and heat in the winters, car insurance, car repairs, etc.

While it seemed that everyone else in the world were sending their kids to be raised in daycare, and buying new cars and cell phones and the latest and greatest of everything, we were falling deeper and deeper. But, we just couldn't fathom waking our toddler children up at 5 am and sending them off to other people so we could both work and "keep up with the Joneses". Then 2008 hit and just the cost of heating oil alone buried us to where we thought we could never dig out. Our 2008 heating bill was $800 per month compared to $200 the previous year.

Well, now both kids are in school and Mom isn't needed as much at home by the kids. So, my wife went back to work at the same place she left 9 years ago. 1-disneyfan stated they were paying off $25k in CC with a ":scared1:". You're not alone. I have roughly that much as well, but we are just starting to pay it off. We caught up with everything else and thought we could actually go on our first family vacation. Our Disney trip started out with just a trip to the beach, but then it looked like a few days taking the kids to Disneyworld would cost about the same. Of course, the Disney trip has grown a few extra days from our original plans, but we were able to pay for it in cash. (In actuality, the money for the trip was used on a high interest CC and a 0 interest CC was used for the trip, so it is basically like we transfered money from one card to the other and paid for the trip with the cash...)

Of course, the trip was all planned out months in advance, and once the kids know they are going to Disney, there is no backing out. After everything was booked, more unexpected happened and where we thought we'd be caught up by Thankgiving last year, it wasn't until this past month that we got caught up with bills.

So, what are we tackling? Well, I just blew a head gasket in the old ancient work runner car, so I tackled replacing that myself this weekend to a tune of saving about $700. I was quoted around $800 to have it repaired and it cost me less than $100 in parts to do it myself.

We are all caught up on the house payment, oil prices were back to normal for the 2009-10 winter, car payment is caught up, Disney trip is paid for, credit card payments are being made, so now we have some extra and we are using that extra for getting vacation supplies for the 2nd week of June. After our trip, I should be able to take care of all bills and the wife's paycheck should be able to all go towards the CC bills and the non-monthly stuff like the heating oil and car insurance. Thus, I believe we could pay off our CCs in less than 2 years if we stuck to it.

RachaelA
05-19-2010, 06:14 PM
DH and I are working on our student loan ($2700) and car ($10k left). We've paid off $7k on the car since January. I plan on having the car paid off by the end of August and the student loan will then be paid on in September. Then all we will have left is our mortgage (which is brand new! first payment starts in July).

scard192
05-19-2010, 06:57 PM
One way to figure out if it is a good idea is by looking at what you're paying in interest on your mortgage. If you think you can make more by investing the money than you're paying in interest, don't pay it off, and invest the money. Otherwise go ahead and pay it off.

Thanks for the advice!

MoniqueU
05-19-2010, 10:14 PM
Well this sounds like a bragginiog thread to me and believe me if I were in as good of shape as most of you I would be bragging too. So no offense meant.

We paid off 4 credit cards this week as charge offs. Made arrangements to pay another 500 towards one with a 5000 balamce that is years deliquent. We owe HUGE amounts on another 3 that are also in collections.

It is easy to pay down debt when you have the money to do it but my DH has lost half his income (car business) and we live in CA where the cost of everything is sky high. In the summer with my ac set at 79 we get 1000 electric bills. We are modifying our mortgage. I no longer eat fast food and we rarely go out to a sit down meal. As of tomorrow no more landline. I can't see much else we can cut, I just switched to dish on a promo that was far less then we were paying with Fios or Direct before that. My son does go to private school and has one year left. I suggested pulling him last year and was vetoed by everyone in my family. One daughter does water polo and the other does nothing and my son plays football. 2 of our cars are paid for but we have no extra money to pay towards the third to get the balamce down. I have bought my youngest daughter alot of clothes at a good price off ebay. Sold a bunch of my own stuff on there and switched to shopping at the super walmart. I have huge prescription co pays each month as well. Not to mention gas out here where I live is alot higher and my husband commutes an hour to work for a job he is grateful to have.

We considered chapter 7 but make too much, then we considered Chapter 13 but igurgured we could do just as well at our own pace. We are doing the best we can. We did go to Vegas for about 36 hours with free roomsa in April. I have let my Disneyland passes expire and we just don't do much. We have friends over to watch sports and host get togethrs. I buy an amex gift card every time I go to the store and have them in a lock box for Christmas or emergencies.

We feel good about what we paid off this week but then we realized what we owe on the other 3 cards and got depressed. Add braces on 2 girls in and paying our health insurance which I am happy to pay for and there just isn't much else we can do right now.

I just don't get how one month we were making tons of money and the next month it was cut in half and hasn't recovered? My husband is commission only so there isn't much he can do about it and he doesn't get overtime, holiday pay, sick leave etc. Vacation and funeral days are highly discouraged too. It was fine when we were making alot but not it just wears on you.

dvcgirl
05-20-2010, 07:28 AM
Well this sounds like a bragginiog thread to me and believe me if I were in as good of shape as most of you I would be bragging too. So no offense meant.

We paid off 4 credit cards this week as charge offs. Made arrangements to pay another 500 towards one with a 5000 balamce that is years deliquent. We owe HUGE amounts on another 3 that are also in collections.

It is easy to pay down debt when you have the money to do it but my DH has lost half his income (car business) and we live in CA where the cost of everything is sky high. In the summer with my ac set at 79 we get 1000 electric bills. We are modifying our mortgage. I no longer eat fast food and we rarely go out to a sit down meal. As of tomorrow no more landline. I can't see much else we can cut, I just switched to dish on a promo that was far less then we were paying with Fios or Direct before that. My son does go to private school and has one year left. I suggested pulling him last year and was vetoed by everyone in my family. One daughter does water polo and the other does nothing and my son plays football. 2 of our cars are paid for but we have no extra money to pay towards the third to get the balamce down. I have bought my youngest daughter alot of clothes at a good price off ebay. Sold a bunch of my own stuff on there and switched to shopping at the super walmart. I have huge prescription co pays each month as well. Not to mention gas out here where I live is alot higher and my husband commutes an hour to work for a job he is grateful to have.

We considered chapter 7 but make too much, then we considered Chapter 13 but igurgured we could do just as well at our own pace. We are doing the best we can. We did go to Vegas for about 36 hours with free roomsa in April. I have let my Disneyland passes expire and we just don't do much. We have friends over to watch sports and host get togethrs. I buy an amex gift card every time I go to the store and have them in a lock box for Christmas or emergencies.

We feel good about what we paid off this week but then we realized what we owe on the other 3 cards and got depressed. Add braces on 2 girls in and paying our health insurance which I am happy to pay for and there just isn't much else we can do right now.

I just don't get how one month we were making tons of money and the next month it was cut in half and hasn't recovered? My husband is commission only so there isn't much he can do about it and he doesn't get overtime, holiday pay, sick leave etc. Vacation and funeral days are highly discouraged too. It was fine when we were making alot but not it just wears on you.

Well, I don't think people are bragging. The thread title is asking people where they are with respect to paying down their debt, so it's sort of an "atta boy" thread. Sort of like, "tell us how much weight you've lost". Just like losing ten pounds, losing 10K in CC debt feels good to people. I think it's great.

I think that you and a couple of other posters in this thread are going through tough times. You're certainly not alone in this department. People are hurting. Some of this is going to be more a permanent change. We were simply living way beyond our means in this country and some of the jobs are not coming back because all of the credit isn't coming back.

On the auto sales front though, right now we're scrapping more cars than we're making. A very rare phenomenon. I read an article in the Journal the other day about a study that predicts that we'll be back to pre-recession auto sales within two years. Right now we're at 11.7 million for 2010, down from a peak of 17 million......quite a drop. I think that's pretty bullish...to get back to 17 million by 2012. But more bearish studies show us back at 16 million by 2013, so still a huge improvement over where we are now.

bored
05-20-2010, 09:56 AM
I'm thinking of paying off my mortgage 8 years early. I have enough money in the bank (small inheritance) to do so and still have an 12 month emergency fund. I've been maxing out my 401K contributions with this inheritance but started thinking about paying off the mortgage. If I pay it off now I will save $5400 over what I would have paid over the next 8 years. Turbo Tax had me file a 1040A the past 2 years because that was better than itemizing my mortgage interest and property taxes.Things holding me back are what if I might benefit in the future from itemizing? Also, property assessments have dropped in the last 2 years, what happens if/when they go back up? Not sure I am ready yet to give up the possibility that itemizing in the future could be better for me than using the Short form. On the other hand $5400 divided by 8 = $675, itemizing would never increase my tax refund by that much per year.

You are correct. Never pay anything you don't have to for the tax refund it generates. It will never payoff.

iwrbnd
05-20-2010, 11:10 AM
We're tackling a car I wish we hadn't bought last summer!:headache:

abmitch01
05-20-2010, 02:44 PM
I hear ya, I bought a Prius last summer. If I had a nickel for every time someone asks if I regret it, I could pay it off, lol


I think a lot depends on where you live. CA got hit so hard when the housing bubble burst. And I cannot even imagine a $1000 electric bill, awful

Blessed_wth_Triplets
05-20-2010, 02:51 PM
Seriously?!? How do many of you almost have your HOUSE paid off? I'm envious!! Is everyone that much older than us...granted...we did just move and start the 30 yr. mortgage all over. But with 4 kids...I just can't see paying it off anytime sooner.

I'm 30 and DH is almost 32. Our goal is obviously just to have the house paid off by the time he retires!

Given that...I feel blessed given we have only DH's income, are living in our dream home, and can go to WDW! The house is our only debt...but we will eventually have to get back into a car payment when one of our dies...cross that bridge when we come to it...

abmitch01
05-20-2010, 02:59 PM
I'm 40 and bought the house with a 30 yr in '02. I'm not close at all to paying it off but the principal is low enough that I should be able to do it sooner than 30 yrs. It's modest and I used to think it wasn't my dream home but I've grown to like it a lot.

Things were different at 30 when my kids were littler and I only have 2. It's amazing the changes that happen in a decade.

DawnM
05-20-2010, 03:00 PM
You really have to do the math on this though. Paying $10,000 in interest on your mortgage for a write off of $2,000 makes no sense if that is your write off.

We have a mortgage but with 3 kids our deductions are pretty good and when combined with the standard deduction we are certainly paying too much in interest.

Dawn

You are correct. Never pay anything you don't have to for the tax refund it generates. It will never payoff.

DawnM
05-20-2010, 03:13 PM
I don't know what a charge off is.....

The $1000 electric bills....we are from SoCal and we got out at the right time it seems, but we didn't have central air. We used a swamp cooler. Our bill was never over $150 total for gas and electric. That might be an option for you.

Is the school willing to work with you on tuition if you have low income? That might be an option for you to look at.

We are out of debt except mortgage and even though some may think it is because we have a high income, we don't. We have just made some drastic decisions and changed our lifestyle in order to get where we are. We went without any cable TV at all for a very long time. We have very old cars and don't plan to get new ones. We cut some of our children's extra curriculars and told them they had to choose ones that weren't as high priced. We don't buy much stuff.....we have a strict budget for spending and say no to a lot of stuff we would like to get.

Dawn

Well this sounds like a bragginiog thread to me and believe me if I were in as good of shape as most of you I would be bragging too. So no offense meant.

We paid off 4 credit cards this week as charge offs. Made arrangements to pay another 500 towards one with a 5000 balamce that is years deliquent. We owe HUGE amounts on another 3 that are also in collections.

It is easy to pay down debt when you have the money to do it but my DH has lost half his income (car business) and we live in CA where the cost of everything is sky high. In the summer with my ac set at 79 we get 1000 electric bills. We are modifying our mortgage. I no longer eat fast food and we rarely go out to a sit down meal. As of tomorrow no more landline. I can't see much else we can cut, I just switched to dish on a promo that was far less then we were paying with Fios or Direct before that. My son does go to private school and has one year left. I suggested pulling him last year and was vetoed by everyone in my family. One daughter does water polo and the other does nothing and my son plays football. 2 of our cars are paid for but we have no extra money to pay towards the third to get the balamce down. I have bought my youngest daughter alot of clothes at a good price off ebay. Sold a bunch of my own stuff on there and switched to shopping at the super walmart. I have huge prescription co pays each month as well. Not to mention gas out here where I live is alot higher and my husband commutes an hour to work for a job he is grateful to have.

We considered chapter 7 but make too much, then we considered Chapter 13 but igurgured we could do just as well at our own pace. We are doing the best we can. We did go to Vegas for about 36 hours with free roomsa in April. I have let my Disneyland passes expire and we just don't do much. We have friends over to watch sports and host get togethrs. I buy an amex gift card every time I go to the store and have them in a lock box for Christmas or emergencies.

We feel good about what we paid off this week but then we realized what we owe on the other 3 cards and got depressed. Add braces on 2 girls in and paying our health insurance which I am happy to pay for and there just isn't much else we can do right now.

I just don't get how one month we were making tons of money and the next month it was cut in half and hasn't recovered? My husband is commission only so there isn't much he can do about it and he doesn't get overtime, holiday pay, sick leave etc. Vacation and funeral days are highly discouraged too. It was fine when we were making alot but not it just wears on you.

minnie1928
05-20-2010, 03:19 PM
We have just made some drastic decisions and changed our lifestyle in order to get where we are. We went without any cable TV at all for a very long time. We have very old cars and don't plan to get new ones. We cut some of our children's extra curriculars and told them they had to choose ones that weren't as high priced. We don't buy much stuff.....we have a strict budget for spending and say no to a lot of stuff we would like to get.

Totally agree with this...we're down to only our mortgage and it's because we made some rather painful decisions in the past and continue to do so.

scard192
05-20-2010, 03:37 PM
Seriously?!? How do many of you almost have your HOUSE paid off? I'm envious!! Is everyone that much older than us...granted...we did just move and start the 30 yr. mortgage all over. But with 4 kids...I just can't see paying it off anytime sooner.


I'm 55 and have owned my condo since 1993. My father left his 3 children a small house, that was our inheritance which is why I have the money to perhaps pay off the mortgage. I have had no car payment for 7 years and drive a 12 year old car; that sure helps with building up the emergency fund. Would I like a newer, nicer car....sure but I don't need it so I keep putting the $$ for a car payment into the bank.

Jen_in_NH
05-20-2010, 04:38 PM
My goal for the summer is to pay off DH's tractor. Once that's done, I'll be paying off a heap of dental bills. Hopefully I should have both done by the middle of the fall. We've cut back on some stuff, and during the summer, we always manage to save more, as the grocery bills are less with the garden, no oil bills, etc.

Monique - I think these threads can sometimes come off as bragging. I used to hate them, until a smart poster pointed out that you can't compare your financial situation to anyone elses. I would feel horrible, thinking "I have credit card debt, I must be evil, I contributed to the collapse of the economy" Then I realized - I have credit card debt, I have a plan to pay it off, and it's working for us. So what if posters don't always agree with how I'm doing it - they don't live at my house, and they don't know my whole life story. Only you truly know your situation, and what will work for you. So, I defnintely have no advice for you, but good luck working on everything.

abmitch01
05-20-2010, 04:41 PM
I def didn't mean for thread to have a bragging tone, more a let's keep each other motivated with whatever you're working on

I apologize if it sounded that way:sad1:

Jennifer in MI
05-20-2010, 04:43 PM
I love this thread!!! I'm sitting here with a smile on my face for everyone who is doing so well! Seriously - I'm really happy for you!!!!

We were blessed. Dh's and my parents both taught us how to handle money. My parents gave us info from Larry Burkett for our wedding. We took it to heart. Our only debt right now is our mortgage. Unfortunately, we bought when the market was high, so we're now upside-down. But, we're planning to stay here forever.

We made the decision not to pay huge amounts on our mortgage so that we can have fun while our kids are still in our house. We do pay a bit more, but not a lot. This way we're able to travel and the kids are able to participate in great extra-curricular activities. I can't wait to have it paid off though!!

dizluvah
05-20-2010, 04:44 PM
We are working on paying off a $1063 water bill!!! Yes, you read that correctly - our typical 3 month water bill is $65 - but we somehow managed to let the basement toilet (that we never use - in an unfinished "room" in the basement - where we never go down to unless we need something from storage....)to run continously for many weeks - we had no idea until the water company called because our meter reading was so high (they only read the meter quarterly)

We called to request a payment arrangement and agreed to pay $200 per month - and it is really hurting the budget - so far I have made April's $200 payment then mailed $75 check and $60 check back to back weeks in May - but still owe$65 before end of May

Plus I lost my full time job back in 2008 and recently received a letter from our state informing me I was overpaid unemployment benefits (due to no error/fault of my own) and I owe $501 - so I have set up a $100 payment arrangement for that each month

Both car registrations are due in July and it will be $638 - plus inspection costs - about another $60, plus a $50 license renewal fee for me same month -for those of you who aren't used to huge personal property tax rates on vehicles - NH doesn't have an income tax so they have to get us with property taxes ;)

And....we are pregnant with our first child - so lots of budget busters heading our way...

but I just want to say I know everything will work out for us and you all as well - we are all doing the best we can

I am enjoying my new frugality and I am diving into the challenge of decorating a nursery on a very tight budget - I am embracing craigslist and goodwill for gently used items such as decor for the nursery - comforter to hang on the nursery wall as decoration, etc...

abmitch01
05-20-2010, 04:48 PM
OMG on the water bill and how high your car reg runs. I think NY is like $50. I had a toilet run for months had no idea it could do that much damage to your bill. Congrats on new baby! Garage sales were where I got most of my little ones' clothes and found great deals on Little Tykes stuff (it scrubs up great with comet and steel wool).

Jen_in_NH
05-20-2010, 04:48 PM
We are working on paying off a $1063 water bill!!! Yes, you read that correctly - our typical 3 month water bill is $65 - but we somehow managed to let the basement toilet (that we never use - in an unfinished "room" in the basement - where we never go down to unless we need something from storage....)to run continously for many weeks - we had no idea until the water company called because our meter reading was so high (they only read the meter quarterly)

We called to request a payment arrangement and agreed to pay $200 per month - and it is really hurting the budget - so far I have made April's $200 payment then mailed $75 check and $60 check back to back weeks in May - but still owe$65 before end of May

Plus I lost my full time job back in 2008 and recently received a letter from our state informing me I was overpaid unemployment benefits (due to no error/fault of my own) and I owe $501 - so I have set up a $100 payment arrangement for that each month

Both car registrations are due in July and it will be $638 - plus inspection costs - about another $60, plus a $50 license renewal fee for me same month -for those of you who aren't used to huge personal property tax rates on vehicles - NH doesn't have an income tax so they have to get us with property taxes ;)

And....we are pregnant with our first child - so lots of budget busters heading our way...

but I just want to say I know everything will work out for us and you all as well - we are all doing the best we can

I am enjoying my new frugality and I am diving into the challenge of decorating a nursery on a very tight budget - I am embracing craigslist and goodwill for gently used items such as decor for the nursery - comforter to hang on the nursery wall as decoration, etc...

Congrats on the baby!!!

And you're right about NH and the taxes. We may not have income or sales tax, but they get us with the vehicle registration and property taxes. Ugh.

Jen_in_NH
05-20-2010, 04:49 PM
I def didn't mean for thread to have a bragging tone, more a let's keep each other motivated with whatever you're working on

I apologize if it sounded that way:sad1:

I defninitely wasn't referring to you. I'm sorry if it came off that way. It was more of a "I used to notice this a lot" kind of thing. This thread has been really great for a moral support kind of thing!

FINFAN
05-20-2010, 05:31 PM
hmmm, we are in the TRIFECTA of debt, ( we also pronounce it just a smidge differently :rolleyes1)
College
Car
Braces
combined we pay $1400 a month to these. It hurts.
oh, AND our mtg. Anyone wanna trade?