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Old 06-15-2013, 03:30 PM   #1036
AuroraRora
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It's SO helpful to hear success stories, thank you so much for posting that! Your story reminds me about how long it takes to build debt and how we shouldn't beat ourselves up for not getting out of it overnight either. The thought of taking on new debt horrifies me, so now it's just all about paying the debt I have. The minimums are always getting paid so its the "anything extra" that I stress about. Its so great to hear that someone else got through it and made their way to Debt Free!!
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Old 06-15-2013, 03:42 PM   #1037
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Thanks for reading...
When I said it was stupidity it really was, once I stopped adding any new debt to the balances it was much easier. I just wasn't paying attention.

I know that watching balances is hard at times, but watching them go down is much better than them going up each month.

What I did enjoy was the extra Excel column I made for monthly interest charges, each month I would post the amount charged to my bill in RED. I loved watching the amount I paid each month go down. I would always decide how much to pay then I would add the interest on top of that so I wouldn't be paying interest on the interest. Just something I did, it helped me.

I also paid my bills just as soon as they posted on-line by paying at the first of the billing cycle the amount of interest would be less, the payment would be deducted early thus balance was lower for the month making the interest lower. (Hope that made since)
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Old 06-15-2013, 07:11 PM   #1038
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SO mad at myself. Apparently when I did my bills a couple of weeks ago, I logged payments to my credit cards in my register, but then never went to actually make the payments (I do these online). It was 3 different credit cards. So mad at myself right now!

Don't know what the fall-out will be. I assume late payment fees, but will it also trigger a jack in my interest rates?

Kim
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Old 06-15-2013, 07:19 PM   #1039
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Originally Posted by kim532 View Post
SO mad at myself. Apparently when I did my bills a couple of weeks ago, I logged payments to my credit cards in my register, but then never went to actually make the payments (I do these online). It was 3 different credit cards. So mad at myself right now!

Don't know what the fall-out will be. I assume late payment fees, but will it also trigger a jack in my interest rates?

Kim
Oh that's an awful feeling. I've been there too. Life can be so hectic & hard to keep it all straight.

We had a Bank of America card several years ago. My payment was around 30 mins late. Paid on due date but just after midnight so technically the next day. My rate shot up to 32%!!! I even wrote to them & pleaded to lower it but I think I had missed a payment 6 mos prior so they really stuck it to me. Now I schedule multiple payments in advance in case life gets hectic. Right now all our payments (mortgage, truck, cc, Amazon card) are scheduled through the end of Sept.
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Old 06-15-2013, 07:21 PM   #1040
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The best thing you can do is call them ASAP tell them you made a mistake...ask them to remove any late payment if they have charged you...I'm assuming that you are only a few days late not over 30 days so hopefully no rate jacks. If they remove the late payment it will be like it never happened either way you should be OK.

Good Luck

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Old 06-15-2013, 09:59 PM   #1041
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So sorry Kim, I've totally been there myself! Had the money in the bank, had it on the calendar and knew it was due, and then suddenly the week gets crazy and you get that sinking feeling when you notice the date and realize you forgot to pay it.

I agree that it could help to call the bank - if they're going to take any action about it the computer system will have flagged it anyway so it's not like you're telling them anything they don't know. But they might be able to put a note on your account that it's been paid and will post shortly - I did that once with a student loan payment that I paid just after midnight on the due date and everything was fine.
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Old 06-16-2013, 03:31 PM   #1042
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Oh Man its been a while since I have been here. Life has been so busy! Working about 70 hours a week... and summer is here. I am still on track on my budget. My house down payment fund is at 75%!!!. I have been very good at finding clearance meats at the market lately, so in the freezer they go. Saves on future shopping trips. By the 1st, I should have more money going into my house fund. I can't believe that I am so close! They are going to start building next month. If I continue to put money in this fast, I will be able to get my "splurge" super duper nice family room furniture when we move versus a few months later.

I have been doing very well on my one CC. I am doing everything the mortgage guy says. Charging max $50 balance and leaving $10 when I pay the bill. He says that will increase the credit score faster than paying it completely off to zero. But I hate that feeling of even paying 50 cents interest. lol Once I get the house done, then it will go to a zero balance every month.

I have to work more tonight, but I have read a few pages, It sounds like most everyone is doing very well. For those that have had hiccups... Big hugs. It will be OK. I will do my best to be on more. I love seeing the success stories!!
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Old 06-16-2013, 06:06 PM   #1043
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Oh Man its been a while since I have been here. Life has been so busy! Working about 70 hours a week... and summer is here. I am still on track on my budget. My house down payment fund is at 75%!!!. I have been very good at finding clearance meats at the market lately, so in the freezer they go. Saves on future shopping trips. By the 1st, I should have more money going into my house fund. I can't believe that I am so close! They are going to start building next month. If I continue to put money in this fast, I will be able to get my "splurge" super duper nice family room furniture when we move versus a few months later.

I have been doing very well on my one CC. I am doing everything the mortgage guy says. Charging max $50 balance and leaving $10 when I pay the bill. He says that will increase the credit score faster than paying it completely off to zero. But I hate that feeling of even paying 50 cents interest. lol Once I get the house done, then it will go to a zero balance every month.

I have to work more tonight, but I have read a few pages, It sounds like most everyone is doing very well. For those that have had hiccups... Big hugs. It will be OK. I will do my best to be on more. I love seeing the success stories!!

Way to go on your house fund That is fantastic!!
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Old 06-17-2013, 12:00 AM   #1044
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I had initially been working to save up 10k in my emergency fund.. but looking at my car loan (and student loans) I decided I would take half, and put it towards debt, and leave the rest in the emergency fund (still over 2 months worth of income; and close to covering 4 months worth of actual bills). I now owe $10,800-something on my car! About half of what the original loan was when I financed it in November! This is my #1 debt priority - get the car paid off ASAP!
And - I'm starting a new job in a week, which will be an overall great thing (better environment & experience, better commute etc) but a pay cut (boo!).. However.. all of my "extra" money (not going towards bills) will still go straight to the car. Continuing on the pace I'm at.. should be done by April 2014 at the latest (hopefully sooner if I can pick up extra hours etc). Then, will rebuild Emergency fund back up and tackle those student loans (currently at about $14k), and start saving for a house .. at least I'll have the benefit of snowballing my car payment into all this as well

Lots of goals, still motivated, gotta keep moving forward! Good job to everyone, halfway through 2013 and we're all doing awesome!
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Old 06-17-2013, 06:20 AM   #1045
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I had initially been working to save up 10k in my emergency fund.. but looking at my car loan (and student loans) I decided I would take half, and put it towards debt, and leave the rest in the emergency fund (still over 2 months worth of income; and close to covering 4 months worth of actual bills). I now owe $10,800-something on my car! About half of what the original loan was when I financed it in November! This is my #1 debt priority - get the car paid off ASAP!
And - I'm starting a new job in a week, which will be an overall great thing (better environment & experience, better commute etc) but a pay cut (boo!).. However.. all of my "extra" money (not going towards bills) will still go straight to the car. Continuing on the pace I'm at.. should be done by April 2014 at the latest (hopefully sooner if I can pick up extra hours etc). Then, will rebuild Emergency fund back up and tackle those student loans (currently at about $14k), and start saving for a house .. at least I'll have the benefit of snowballing my car payment into all this as well

Lots of goals, still motivated, gotta keep moving forward! Good job to everyone, halfway through 2013 and we're all doing awesome!
That is great that you will have your car loan paid off in April! That's only 10 months away! Once you pay that off, if you plan to snowball your payment into the student loans they will be paid off in no time too!
Congrats on the new job. I am a believer that a pay cut is worth it for a better working environment
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Old 06-17-2013, 10:14 AM   #1046
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Originally Posted by ceemys View Post
Oh Man its been a while since I have been here. Life has been so busy! Working about 70 hours a week... and summer is here. I am still on track on my budget. My house down payment fund is at 75%!!!. I have been very good at finding clearance meats at the market lately, so in the freezer they go. Saves on future shopping trips. By the 1st, I should have more money going into my house fund. I can't believe that I am so close!
That's wonderful!!! Congratulations on getting so much saved


Quote:
Originally Posted by xCourxCorex View Post
I had initially been working to save up 10k in my emergency fund.. but looking at my car loan (and student loans) I decided I would take half, and put it towards debt, and leave the rest in the emergency fund (still over 2 months worth of income; and close to covering 4 months worth of actual bills). I now owe $10,800-something on my car! About half of what the original loan was when I financed it in November! This is my #1 debt priority - get the car paid off ASAP!
Congratulations!! With savings interest as low is it this was probably a wise choice, you wouldn't earn much on the money and it's always great to get rid of debt. And congrats on the new job as well!
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Old 06-17-2013, 03:27 PM   #1047
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Originally Posted by xCourxCorex View Post
I had initially been working to save up 10k in my emergency fund.. but looking at my car loan (and student loans) I decided I would take half, and put it towards debt, and leave the rest in the emergency fund (still over 2 months worth of income; and close to covering 4 months worth of actual bills). I now owe $10,800-something on my car! About half of what the original loan was when I financed it in November! This is my #1 debt priority - get the car paid off ASAP!
And - I'm starting a new job in a week, which will be an overall great thing (better environment & experience, better commute etc) but a pay cut (boo!).. However.. all of my "extra" money (not going towards bills) will still go straight to the car. Continuing on the pace I'm at.. should be done by April 2014 at the latest (hopefully sooner if I can pick up extra hours etc). Then, will rebuild Emergency fund back up and tackle those student loans (currently at about $14k), and start saving for a house .. at least I'll have the benefit of snowballing my car payment into all this as well

Lots of goals, still motivated, gotta keep moving forward! Good job to everyone, halfway through 2013 and we're all doing awesome!
Very cool on your car! And the new job, hope you get some raises soon.
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Old 06-18-2013, 07:13 PM   #1048
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Bumping thread
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Old 06-18-2013, 09:47 PM   #1049
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I was discussing my debt with a friend today - she's in the same boat and we try to bounce ideas off each other and hold each other accountable for things, and she's the only one I can really talk to honestly about this stuff. I was stressing because I have a trip planned to WDW in October, but I feel like how can I justify spending $$$ on a vacation (particularly when I've been twice this year already!) when I'm supposed to be debt-intense. . But the October trip has been planned for a while, and when I went in March I bought an AP with the intention of using it for the F&G Festival, and then for the F&W Festival in Oct. So I don't want to waste the money I spent on the AP either (that, and with stress at work, I literally feel like a new, happier person after going back to the world).

Anyway, so I was stressing about this, and she reminded me that I'd mentioned I'd like to pay off my $15k student loan by the beginning of October BUT later abandoned this idea as being crazy and pushed it back to "by the end of the year". She challenged me to go back to the crazy plan, and work my butt off and do everything I can to pay it off by October after all. That way, I can go to WDW to celebrate before moving on to my last (huge) student loan.

I'm 99% sure its unattainable, but I'm gonna go for it anyway! The worst that can happen is that I get a lot paid off but don't quite meet my target, a win-win for my debt either way
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Old 06-18-2013, 10:01 PM   #1050
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I've been thinking about extra income. My hospital has pretty much nixed all overtime. I think I'll try some of the urgent care clinics to see if they need a prn nurse. I'm also going to check with home health care providers.
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