Debt Dumpers - 2016

[SirDuff]

Does this do what you want?

http://undebt.it/debt_snowball_calculator.php

It also lets you compare a couple of payment methods (highest interest, lowest monthly payment, and highest monthly payment).

 

[DisneyMandC]

Does this do what you want?

http://undebt.it/debt_snowball_calculator.php

Perfect! I was having trouble finding one that would let me do the highest balance first. I know it doesn't make as much sense to do our highest balance with the lowest interest rate first, but the payment is the biggest and would free up more for our snowball.

 

[SirDuff]

Perfect! I was having trouble finding one that would let me do the highest balance first. I know it doesn't make as much sense to do our highest balance with the lowest interest rate first, but the payment is the biggest and would free up more for our snowball.

I like that it has the three options. It is great to check out what the difference will be in terms of interest paid/time to being debt free and then also consider the psychological side (the method that is "best" from a numbers perspective may not actually work best for you from an actually doing it perspective).

 

[LinderInWonderland]

Happy belated Birthday!!
I hope you get to celebrate all weekend.



We dumped TD Bank around 1.5 years ago. We had that checking account since I first moved out of my parents' house 24 years ago. Back then they were Commerce Bank which was awesome but once TD took over, they gradually raised fees and cut their hours back. Seriously, if your balance dips below $100 even for 1 day you get charged the fee. After finding out the hard way I made sure to never cut it so close but it was annoying. We switched banks when dh heard that the new Republic Bank had just opened by the same guy that started Commerce Bank. Free ATM, free online banking w/bill pay and as long as you're not overdrawn, totally free checking. Also since dh is >50 we get free senior checking which means we get free checks (which we barely ever use anymore) and our checking account earns interest. They are growing quickly in our area. We really like them.

We went with a large credit union several years ago when Wells Fargo was going to start charging us $18/month between our two checking accounts. BECU's only requirement is that you be a Washington State resident when you sign up. You also earn 6% interest on the first $500 in your account(s) and the only balance you need to keep is $5 in your savings account. We earned more in interest in 6 months at BECU than we did in 5 years at Wells Fargo!

Trip to the urgent care center for stitches in my hand has left me $25 poorer. At least I made it to the urgent care before it closed today, otherwise I would have had to pay a $100 emergency room co-pay instead. If you are cutting avocados today, be careful! They are slippery.

Ouch! DH is a chef, and he cut the dickens out of his pinky finger yesterday. Fortunately no need for urgent care, especially since he is just getting over pneumonia.

The special Murphy for cars has struck again. I heard the old squeaking in the back end that means new struts/shocks. Another $2k in car repairs. Still, it allows us to hang on to this car for the two years I planned before we need to get a new one. This extends our debt repayment plan by another year, but doesn't impact the bulk of the debt that will still be paid off in 2 years.

So far, we have earned $225 in Disney Gift cards towards our May trip via Swagbucks and with the gift card my mom gave us for Christmas makes $275. We should earn at least another $50 by the time we go, which is a satisfying chunk of spending money. Our YNAB! budgeting plan is working so well and because I have been socking money away in rainy day categories, we haven't even felt it when a minor emergency came up (the cat's fleas, a minor car repair).

 

[Jen and Ashwin]

Hope you feel better. I think urgent care centers are a great idea! Why go to an ER if you don't have to?

Thanks. And I agree, the urgent care center was a great idea. It's cheaper for my co-pay, it's closer to home and they were so nice and quick. They also said I can come back in 7-10 days to get the stitches removed for no additional co-pay. Just in and out. The cut has been pretty painful and keeps bleeding. That is the trouble with cutting your palm, it gets lots of use, even when bandaged. DH drew me a nice bell curve and pointed somewhere on the lower left side and said the pain level probably hasn't peaked yet (DH's silly programmer mind, thinking in math terms always). My hand being all bandaged up also makes it hard for me to type at my usual quick pace so this took so long!

 

[ruadisneyfan2]

Can anyone recommend a good debt calculator that can show how soon I'll be out of debt based on snowball-payments? I've used some before where it's shown me how soon I'll have things paid off based on my monthly payment and interest rate, but I didn't know if anyone knew of a specific one where I could put in my three debts and the payments and figure out the actual end date for them all being paid.

www.debtmd.com

 

[cayennews]

I don't necessarily have a lot of debt, but we just bought a new house last month and had a baby 14 months ago. Between the 10% down on the house, the nanny costs (worth every penny though), the car payment, and the small (and not so small) things we need to so at the new house, things are adding up.

I have been paying more toward my car every month and hope to cut down on the loan by about a year. I use my gas points at Stop and Shop to get cheap gas, I particiapte in an online discussion board for my bank to earn Amazon gift cards that I can then use for free things, and I get diapers through Amazon on their subscription plan so I save 5% and don't have to lug them home from the store. We rarely go out to eat, but get take-out once in a while (partly becuase of the little one).

I have always been frugal an it has paid off. I just need to look down the road to when my baby starts school and we won't have the expense of the nanny anymore, and when my car is paid off.

Keep up the good work everyone else!

 

[gracie1]

So I went today and bought my new elliptical . It will be here on Saturday and this time I paid the extra and they will put it together! Last time we did it and it is so not worth the hassle. It did set me back $750 total with delivery and set up but I do use it everyday for 3 hours a day. On the bad note - I have been checking the irs refund since I filed Friday and it kept saying I must've entered the wrong information. So I stopped by to see my cpa today and it looks like my refund is less than thought by $900 . The obamacare credit he forgot to put in that I used it towards my monthly premium and didn't need to be reimbursed for it. He kept apologizing - I told him he just bummed me out today - I went and spent that money on an elliptical!!

 

[potterfanatic]

I officially paid off my first credit card of 2016! It was my smallest amount and interest free, but I'll be happy to put that money toward my next lowest balance!

 

[AquaDame]

I officially paid off my first credit card of 2016! It was my smallest amount and interest free, but I'll be happy to put that money toward my next lowest balance!

Way to go! You gotta start somewhere and I bet it feels so good!

 

[gracie1]

I officially paid off my first credit card of 2016! It was my smallest amount and interest free, but I'll be happy to put that money toward my next lowest balance!

Congrats!! That is fantastic!! You should be proud of yourself!!!!

 

[momtosam]

http://www.whatsthecost.com/snowball.aspx

 

[dayvewc]

Well, I did it.

Beginning March 14, I will start a series of 7 week (5 week in summer) online sessions to attain my Masters Degree in Curriculum and Instruction.

I'm taking it as a sign that after I paid my application fee and faxed in the initial paperwork (still waiting on some documents from my building administration), I received an email that the one missing night at the Grand Californian Resort came through on my waitlist.

Spring Break and the summer trip to DL 60th will probably be my last vacations until at least Fall of 2017. And, I will have to add to the debt with student loans to pay for the classes. Hopefully (and I'll chat with the admissions counselor tomorrow) I can qualify for some forgiveness on those.

Wish me luck. No more sleep for 18 months!!

 

[bcwife76]

@dayvewc that's so exciting, congrats!!!

 

[Dentam]

Well, I did it.

Beginning March 14, I will start a series of 7 week (5 week in summer) online sessions to attain my Masters Degree in Curriculum and Instruction.

I'm taking it as a sign that after I paid my application fee and faxed in the initial paperwork (still waiting on some documents from my building administration), I received an email that the one missing night at the Grand Californian Resort came through on my waitlist.

Spring Break and the summer trip to DL 60th will probably be my last vacations until at least Fall of 2017. And, I will have to add to the debt with student loans to pay for the classes. Hopefully (and I'll chat with the admissions counselor tomorrow) I can qualify for some forgiveness on those.

Wish me luck. No more sleep for 18 months!!

Good luck and congratulations! Also, congrats on getting the last night you needed for the Grand Californian! Woohoo!

 

[PrincessKymm]

I officially paid off my first credit card of 2016! It was my smallest amount and interest free, but I'll be happy to put that money toward my next lowest balance!

Congrats! It's a great feeling isn't it?!?!?

 

[PrincessKymm]

Well, I did it.

Beginning March 14, I will start a series of 7 week (5 week in summer) online sessions to attain my Masters Degree in Curriculum and Instruction.

I'm taking it as a sign that after I paid my application fee and faxed in the initial paperwork (still waiting on some documents from my building administration), I received an email that the one missing night at the Grand Californian Resort came through on my waitlist.

Spring Break and the summer trip to DL 60th will probably be my last vacations until at least Fall of 2017. And, I will have to add to the debt with student loans to pay for the classes. Hopefully (and I'll chat with the admissions counselor tomorrow) I can qualify for some forgiveness on those.

Wish me luck. No more sleep for 18 months!!

Whoohoo! Good luck!!!!

 

[potterfanatic]

Beginning March 14, I will start a series of 7 week (5 week in summer) online sessions to attain my Masters Degree in Curriculum and Instruction.

Congratulations on taking such a big step! Good luck.

 

[DisneyMandC]

Well, I did it.

Beginning March 14, I will start a series of 7 week (5 week in summer) online sessions to attain my Masters Degree in Curriculum and Instruction.

I'm taking it as a sign that after I paid my application fee and faxed in the initial paperwork (still waiting on some documents from my building administration), I received an email that the one missing night at the Grand Californian Resort came through on my waitlist.

Spring Break and the summer trip to DL 60th will probably be my last vacations until at least Fall of 2017. And, I will have to add to the debt with student loans to pay for the classes. Hopefully (and I'll chat with the admissions counselor tomorrow) I can qualify for some forgiveness on those.

Wish me luck. No more sleep for 18 months!!

Congrats! Good luck! And clearly that is a sign!

 

[Eureka]

Hi all, hope everyone is doing well. January was good for us, money-wise. We didn't "borrow from ourselves" (from the set-aside funds I have designated) at all, paid a good chunk on the credit cards and got the appendectomy medical bill payments underway (lots more to go, but 0% payment plans work for me!). DH's health insurance increase catch-up week was last week, so this week we should know what his checks will be from now on. Feels like we're off to a good start. Cross your fingers Murphy doesn't strike. Our washing machine spin cycle is sounding a little "rough" lately after one load a couple weeks ago that didn't drain right, but since then has been working fine aside from the noise, so I have held off on making a service appointment.

Got our yearly mortgage adjustment statement this week. Our payments are going down a tiny bit and we got a small escrow overage check that I cashed to bring with me to FL when I go next week. Turns out my sister may have a working dinner somewhere in Disney Springs on that free day I have, so while I can't go to dinner with them, I can tag along over there, browse and eat on my own and meet up with her later. Anyone have good restaurant suggestions for me? I've eaten at House of Blues and was not impressed, and there's an Earl of Sandwich in a rest area that we stop at sometimes when we travel, so not interested in that either. Thanks.