Disney Information Station Logo

Go Back   The DIS Discussion Forums - DISboards.com > Disney Trip Planning Forums > Budget Board
Find Hotel Specials & DIScounts
 
facebooktwitterpinterestgoogle plusyoutubeDIS Updates
Register Chat FAQ Tickers Search Today's Posts Mark Forums Read


Reply
 
Thread Tools Rate Thread
Old 05-21-2013, 01:00 PM   #916
gracie1
DIS Veteran
 
Join Date: Apr 2009
Posts: 3,184

Quote:
Originally Posted by kim532 View Post
I want to be apart of this conversation. I have been away from the boards for a while and now have found my way back (like I always do).

We have started dumping the debt back in March. We have paid off about $15k in the past 3 months. We had large tax returns because of adoption tax credit and my annual bonus. My goal going forward is to get rid of $2k per month. That is a lofty goal but we are living on bare bones to make this happen!

Kim

Way to go on dumping the debt Sounds like you are doing a great job!!
gracie1 is offline   Reply With Quote
Old 05-21-2013, 04:04 PM   #917
AuroraRora
Princess
 
AuroraRora's Avatar
 
Join Date: Sep 2012
Location: New York
Posts: 1,501

I paid of my two highest-balance credit cards yesterday!! Both are on payment plans because I couldn't make the minimum payments in the past, and while I could've started making the minimums again, I kept it on the payment plan because I was scared it'd get out of control again. I've been saving some extra per month and then with the help of a bonus at work, I had enough. It was SUCH a good feeling to call both banks' payment lines yesterday and when the girl said "and you're paying your minimum?" to reply no, actually I'm paying off the full balance!

I'm doing the Dave Ramsey/Snowball plan and now I can roll those minimums into my snowball so I have an extra $450 a month to put towards debt My next target is my smallest student loan - its $6k and the minimum is $50/month - now I can pay $500/month to it. It's so true what they say about feeling a sense of achievement to motivate you!!! I have another bonus tentatively due at work soon and if I get that and stick to my snowball, I'm hoping to have that student loan paid off by the end of summer I got Dave Ramsey's book and it's so motivating, now every time I want Starbucks and so on, instead I put my $4 aside to add to my payments - it really does add up!
__________________
Oct '00, '02, '04 - Off-property 3 weeks each
March 06 - Spring Break
July '07 - AK Lodge 3 weeks
July '12 - POFQ 10 days
March 2013 ASMu 5 days ......May 2013 POP 8 days...... October 2013 POP 10 days *

Last edited by AuroraRora; 05-21-2013 at 07:11 PM.
AuroraRora is offline   Reply With Quote
|
The DIS
Register to remove

Join Date: 1997
Location: Orlando, FL
Posts: 1,000,000
Old 05-21-2013, 08:47 PM   #918
gracie1
DIS Veteran
 
Join Date: Apr 2009
Posts: 3,184

Quote:
Originally Posted by AuroraRora View Post
I paid of my two highest-balance credit cards yesterday!! Both are on payment plans because I couldn't make the minimum payments in the past, and while I could've started making the minimums again, I kept it on the payment plan because I was scared it'd get out of control again. I've been saving some extra per month and then with the help of a bonus at work, I had enough. It was SUCH a good feeling to call both banks' payment lines yesterday and when the girl said "and you're paying your minimum?" to reply no, actually I'm paying off the full balance!

I'm doing the Dave Ramsey/Snowball plan and now I can roll those minimums into my snowball so I have an extra $450 a month to put towards debt My next target is my smallest student loan - its $6k and the minimum is $50/month - now I can pay $500/month to it. It's so true what they say about feeling a sense of achievement to motivate you!!! I have another bonus tentatively due at work soon and if I get that and stick to my snowball, I'm hoping to have that student loan paid off by the end of summer I got Dave Ramsey's book and it's so motivating, now every time I want Starbucks and so on, instead I put my $4 aside to add to my payments - it really does add up!
Way to go!! It really is a great feeling to atleast get one paid off, regardless of how much you owe!! You are doing a great job and will be getting those student loans paid off in no time!!

Everyone is doing a great job!
gracie1 is offline   Reply With Quote
Old 05-22-2013, 09:45 AM   #919
PrincessKymm
Mouseketeer
 
PrincessKymm's Avatar
 
Join Date: Jan 2013
Posts: 116

Well I just made another payment to the smallest credit card and I paid off one doctor bill and made a payment to a second doctor bill. I'm still in track to have my smallest credit card paid off before the end of June and the second credit card the previously mentioned 2nd doctor bill paid off by August so this should be a productive summer.

I am still stressed out about money but now I'm stressed out and have the motivation to get rid of this stress. If my plans happen the way they should I should be debt free except for my student loans (and the house my ex screwed up on) by next year. Very exciting!!!!
PrincessKymm is online now   Reply With Quote
Old 05-22-2013, 12:41 PM   #920
MissManda
DIS Veteran
 
Join Date: Apr 2011
Posts: 577

I'm so excited....my car is officially paid off! No more car payments!!!

I'm also one payment away from paying off a personal loan that I took out a few years ago. Its almost embarrasing to admit it, but when DH and I first got married we racked up some credit card debt. Some was just a result of being young and not as responsible as we should have been. The rest was because he had major surgery and was out of work for six months. It was difficult to make ends meet and we used the cards to pay for our living expenses. I spent a lot of time doing the balance transfer game on credit cards but the balance just wasn't going down fast enough. A couple of years ago, I took out a personal loan with fixed payments and a very low fixed rate. So, I'm very excited to finally have this off my back once and for all!

It feels so awesome to get two debts totally paid off!!!

I am going to take the amount that I would have paid on these debts each month. Add some to savings and the rest will pay off one other small credit card balance that I have. That card will be paid off in less than 6 months (I have a zero interest rate on it until next January).

After that, the only debt that I will owe is my student loan (which is almost paid off...about two years worth of payments left) and the mortgage!

We still have a couple of credit cards that we use, but we pay them off each month. Anytime I charge something to my card, I immediately deduct it from my checking account register. This way I know that I'm not overextending myself and can pay the card off in full in month.
__________________

1st Trip- May 2009- CBR
2nd Trip- Sept 2010- POFQ- MNSSHP
3rd Trip-June 2012- Offsite condo.
4th Trip- possibly a solo??? TBD
MissManda is offline   Reply With Quote
Old 05-22-2013, 01:08 PM   #921
gracie1
DIS Veteran
 
Join Date: Apr 2009
Posts: 3,184

Quote:
Originally Posted by MissManda View Post
I'm so excited....my car is officially paid off! No more car payments!!!

I'm also one payment away from paying off a personal loan that I took out a few years ago. Its almost embarrasing to admit it, but when DH and I first got married we racked up some credit card debt. Some was just a result of being young and not as responsible as we should have been. The rest was because he had major surgery and was out of work for six months. It was difficult to make ends meet and we used the cards to pay for our living expenses. I spent a lot of time doing the balance transfer game on credit cards but the balance just wasn't going down fast enough. A couple of years ago, I took out a personal loan with fixed payments and a very low fixed rate. So, I'm very excited to finally have this off my back once and for all!

It feels so awesome to get two debts totally paid off!!!

I am going to take the amount that I would have paid on these debts each month. Add some to savings and the rest will pay off one other small credit card balance that I have. That card will be paid off in less than 6 months (I have a zero interest rate on it until next January).

After that, the only debt that I will owe is my student loan (which is almost paid off...about two years worth of payments left) and the mortgage!

We still have a couple of credit cards that we use, but we pay them off each month. Anytime I charge something to my card, I immediately deduct it from my checking account register. This way I know that I'm not overextending myself and can pay the card off in full in month.
Fantastic Job!!! I did the personal loan to consolidate debt before two (actually twice - and still didn't learn my lesson!) You are doing great
gracie1 is offline   Reply With Quote
Old 05-22-2013, 01:24 PM   #922
AuroraRora
Princess
 
AuroraRora's Avatar
 
Join Date: Sep 2012
Location: New York
Posts: 1,501

Awesome job everyone!!
__________________
Oct '00, '02, '04 - Off-property 3 weeks each
March 06 - Spring Break
July '07 - AK Lodge 3 weeks
July '12 - POFQ 10 days
March 2013 ASMu 5 days ......May 2013 POP 8 days...... October 2013 POP 10 days *
AuroraRora is offline   Reply With Quote
Old 05-22-2013, 02:38 PM   #923
PrincessKymm
Mouseketeer
 
PrincessKymm's Avatar
 
Join Date: Jan 2013
Posts: 116

Quote:
Originally Posted by MissManda View Post
I'm so excited....my car is officially paid off! No more car payments!!!

I'm also one payment away from paying off a personal loan that I took out a few years ago. Its almost embarrasing to admit it, but when DH and I first got married we racked up some credit card debt. Some was just a result of being young and not as responsible as we should have been. The rest was because he had major surgery and was out of work for six months. It was difficult to make ends meet and we used the cards to pay for our living expenses. I spent a lot of time doing the balance transfer game on credit cards but the balance just wasn't going down fast enough. A couple of years ago, I took out a personal loan with fixed payments and a very low fixed rate. So, I'm very excited to finally have this off my back once and for all!

It feels so awesome to get two debts totally paid off!!!

I am going to take the amount that I would have paid on these debts each month. Add some to savings and the rest will pay off one other small credit card balance that I have. That card will be paid off in less than 6 months (I have a zero interest rate on it until next January).

After that, the only debt that I will owe is my student loan (which is almost paid off...about two years worth of payments left) and the mortgage!

We still have a couple of credit cards that we use, but we pay them off each month. Anytime I charge something to my card, I immediately deduct it from my checking account register. This way I know that I'm not overextending myself and can pay the card off in full in month.
Awesome job!!!!
PrincessKymm is online now   Reply With Quote
Old 05-22-2013, 09:47 PM   #924
momtosam
Oh, Schmootsie-poo!
 
momtosam's Avatar
 
Join Date: Jun 2006
Posts: 1,209

Coming out of lurkdom to share -- I really like this payoff calculator from Bankrate. It gives you a specific payment plan to follow in order to pay off your debts most quickly. I'm the kind of person who needs a checklist to follow. Each month I can cross off each payment as I make it. It keeps me on track.

http://www.bankrate.com/calculators/...alculator.aspx
__________________
momtosam is offline   Reply With Quote
Old 05-23-2013, 06:52 AM   #925
momof2gr8kids
DIS Veteran
 
Join Date: Nov 2009
Location: Canada
Posts: 690

Everyone's doing great. Can't wait til I can say we have no debt except our mortgage!

Got our $1000 emergency fund set up. Paid off a big chunk of our credit card, and transferred the rest to our LOC as the interest rate was much lower. I think seeing that amount on our LOC everytime I log into online banking is a great motivator. Not like a cc statement you get once a month and can tuck it away! Will be cancelling that cc once the payment goes through.

I've set up a budget using the Gail Val-Oxlade budget and am committing 15%from each paycheck to our LOC. Dh's income fluxuates so it's hard to plan, so rather than a set amount I decided to do it this way. Going by her budget, we are actually over on savings, but it's savings we can't touch - for retirement and kids RESPs (education - not sure what you guys call it in the in the US). So I will adjust that to add to our emergency fund. Any extra left over the day before the next payday will be split between Debt and Emerg. Fund.

Thanks to everyone on this thread that posts, to help keep me motivated. I may not post all the time, but I do read and it's nice to be around like minded people. (Instead of the constant badgering of one friend who always wants me to go shopping with her! LOL)
__________________
me dh dd ds dsd dsd's first trip!

Dec 2010 Pop Century
Feb 2013 POR Riverside
momof2gr8kids is offline   Reply With Quote
Old 05-23-2013, 08:00 AM   #926
gracie1
DIS Veteran
 
Join Date: Apr 2009
Posts: 3,184

You guys are all doing a fantastic job I am getting ready to tackle my home equity loan. I still have 10 years left on it, and plan on paying right now just $100 a month extra. If I do that then that will save me 3 years on it, and I am hoping to be able to throw a little extra throughout the year on it. I would like to have it paid off in 5 years - we will see!
gracie1 is offline   Reply With Quote
Old 05-23-2013, 10:00 PM   #927
bababear_50
Does amazing things with teeth and string!
Song writer extraordiaire
 
bababear_50's Avatar
 
Join Date: Feb 2007
Location: Ontario Canada
Posts: 11,354

Ok
I guess I'm not doing too great.
I've been watching everything I spend when Wham! the knob on the dryer breaks off and the electrical unit attached to it falls inside the dryer.
The dryer is just over the one year warranty.
So I paid $15.00 for a part but the rest of the repair+ service call and labor and taxes$170.00.Total $185.00.So no extra payments can be made this month on any debt.
Sometimes I just need a hug and right now is one of those times.
Oh well thanks for letting me vent (not as in dryer vent) that's whole other story of the three birds nest that I had to have removed last month.
Ok I know things happen in threes but this girl is out of cash right now
and my emotions are pretty raw so if any other appliance wants to break could it please be the toaster...........

Hugs everyone and hopefully I will get back on track soon.

Mel
bababear_50 is offline   Reply With Quote
Old 05-23-2013, 10:32 PM   #928
momof2gr8kids
DIS Veteran
 
Join Date: Nov 2009
Location: Canada
Posts: 690

Awww Hugs Bubabear. I know how frustrating it feels when you set your mind to paying off stuff then suddenly everything comes at once.
Crossing my fingers for you that the setbacks are over!
__________________
me dh dd ds dsd dsd's first trip!

Dec 2010 Pop Century
Feb 2013 POR Riverside
momof2gr8kids is offline   Reply With Quote
Old 05-23-2013, 10:55 PM   #929
bababear_50
Does amazing things with teeth and string!
Song writer extraordiaire
 
bababear_50's Avatar
 
Join Date: Feb 2007
Location: Ontario Canada
Posts: 11,354

Quote:
Originally Posted by momof2gr8kids View Post
Awww Hugs Bubabear. I know how frustrating it feels when you set your mind to paying off stuff then suddenly everything comes at once.
Crossing my fingers for you that the setbacks are over!
Thanks for the Hugs and good wishes,it means alot to me.
Mel
bababear_50 is offline   Reply With Quote
Old 05-24-2013, 12:14 PM   #930
jenny105
DIS Veteran
 
jenny105's Avatar
 
Join Date: Sep 2008
Location: NJ
Posts: 8,842

I got a small raise at work so I'm now able to put a little more into my savings and 401k. I went off the rails a bit with debt repayment but I am determined to get back on track!
__________________

Me DBf Kris Mitzu
Sept 2015 ASMu/DCL ~ August 2013 GF ~ Oct 2012 AKL ~ April 2011 DL Paradise Pier ~ Oct 2010 POP ~ Sept 2009 WL/DCL/BCV ~ Nov 2008 RPR Universal ~ Jan 2008 POP ~ April 2007 POP ~ Jan 2006 POP
jenny105 is offline   Reply With Quote
Reply



Thread Tools
Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

facebooktwitterpinterestgoogle plusyoutubeDIS Updates
GET OUR DIS UPDATES DELIVERED BY EMAIL



All times are GMT -5. The time now is 08:57 PM.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

Copyright © 1997-2014, Werner Technologies, LLC. All Rights Reserved.

You Rated this Thread: