Debt Dumpers - 2013

Discussion in 'Budget Board' started by StitchesGr8Fan, Jan 7, 2013.

  1. AuroraRora

    AuroraRora Princess

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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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  3. ceemys

    ceemys DIS Veteran

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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...:faint: and summer is here. I am still on track on my budget. :) My house down payment fund is at 75%!!!.:goodvibes:goodvibes 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. :woohoo: 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...:hug: Big hugs. It will be OK. I will do my best to be on more. :) I love seeing the success stories!!
     
  4. gracie1

    gracie1 DIS Veteran

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    Way to go on your house fund :thumbsup2 That is fantastic!!
     
  5. xCourxCorex

    xCourxCorex DIS Cast Member<br><font color=deeppink>You can't

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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 :woohoo:

    Lots of goals, still motivated, gotta keep moving forward! Good job to everyone, halfway through 2013 and we're all doing awesome!
     
  6. gracie1

    gracie1 DIS Veteran

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    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 :thumbsup2
     
  7. pryncess527

    pryncess527 DIS Veteran

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    That's wonderful!!! Congratulations on getting so much saved :)


    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!
     
  8. ceemys

    ceemys DIS Veteran

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    Very cool on your car! And the new job, hope you get some raises soon. :)
     
  9. gracie1

    gracie1 DIS Veteran

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    Bumping thread :goodvibes
     
  10. AuroraRora

    AuroraRora Princess

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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. :confused3 . 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 pixiedust:
     
  11. dansamy

    dansamy DIS Veteran

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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.
     
  12. xCourxCorex

    xCourxCorex DIS Cast Member<br><font color=deeppink>You can't

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    Check out agencies in your area, they may have prn positions or a several week assignment in a local facility you could do. Or home health/private duty?
     
  13. SpaceGirl

    SpaceGirl DIS Veteran

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    Going on a vacation while you're trying to pay down/off debt....I know many posters are very opinionated about this subject with their post....I feel that when you have a plan and have been working on specific goals by working extra hours, cutting down expenses, then add stress from work to the equation, you can get burnt out.

    Each family/person has different situations (Example if you were unemployed or if you would be adding more debt)

    You already have your tickets paid for, you're not stay at a Deluxe Resort, you have been planning this for some time. I feel that you realize your obligations and while no trip to Disney is inexpensive you can budget for the trip and have most of it paid for before you ever leave home.

    So two goals: Working on that student loan and having as much of your trip paid for before October.

    No new debt added. pixiedust:
     
  14. ceemys

    ceemys DIS Veteran

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    Go for it! Everyone has their priorities. Even if you put extra money on a debt while saving for Disney, you are still bringing it down. If you want to go to Disney, go. I really want to go this year (even though we went last year..lol ) but my house is my priority. Next year though!! :)
     
  15. Doodlebug939

    Doodlebug939 DIS Veteran

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    Alright had to post an update. I have been working on paying off one bill for the last few months. I often felt that I was just kind of spinning my wheels and not really getting very far. Well I just got my credit card statement and I was so excited to see the balance going down. Since May 17th I have paid down $605.00 toward my debt on that card. I know to some it sounds like a lot and to others it is probably drops in the bucket. I now have a balance on the card of $874.00. I am finally out of the 1,000 numbers on this card. My goal is to have the card paid off by August 2nd. It is a lofty goal with summer here and the kids home. But I remind myself to just take one week at a time. I feel that I was able to apply this much by not doing as much mindless shopping that I have done in the past. And I know that in August I have to buy school clothes (yuck) and if (no when) I get this card paid off then I can use cash which will be liberating and then move the next card at the end of August. (YAY me!)

    On another note, I feel that as I have gained some sense of control over my finances that I have also gained some control over my weight and self esteem. I have taken back the power that I had once given to debt and weight I had gotten into a rut and just felt that there was no way out. It is baby steps and not really a big weight loss on any level but I feel more in control in my exercise and eating. Amazing how it all works hand in hand.
     
  16. SpaceGirl

    SpaceGirl DIS Veteran

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    I agree with your statement about self esteem and DEBT. It's hard to enjoy life when you know you have debt and just never see an end to it.

    This effects so many other things in our lives health, weight, environment and personal relationships.

    I know you can accomplish all your goals...Why? Because you have doing it for over 6 months now, even more important You know you can accomplish them.

    Weight and Debt...you don't get either of then overnight, and you can't get rid of them overnight.
     
  17. AuroraRora

    AuroraRora Princess

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    Good job Doodlebug!!! It sounds like you're making awesome progress on your debt :goodvibes I completely understand what you mean about debt affecting self esteem too - I've been trying to get to the gym more and the combo of getting fit and getting my finances in better shape (no pun intended :lmao: ) makes me feel a bit like I'm turning my life around. I'm trying to work hard to boost my work contracts to up my income because of my debts too, so it feels like things are changing for the better :banana:

    I was considering pet insurance as my cat was sick twice at the beginning of the year ($800 in bills, thanks kitty!) but now I'm looking into it, I'm not even sure it's a good idea :confused3 It would take 3 or more trips for the pet insurance to be cheaper than just paying out of pocket, due to the deductible, monthly costs and then it's mandatory you take your pet to the vet annually for a check-up which is a $250 vet visit that isn't covered. My cat gets extreme anxiety at the vet, to the point where his vet recommended I only bring him in tri-yearly if he's otherwise in good health. The only reason he was sick this year was due to me taking in some foster kittens, but I'm not doing that now and he's indoor only and very healthy. I think I might just put the $30/month into my debt snowball instead, and IF he did ever get sick I could take the money out of the snowball to cover it. I feel like I'd rather the money went to the debt in the meantime, rather than going to the pet insurance regardless of if we use it.
     
  18. gracie1

    gracie1 DIS Veteran

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    way to go!! I never really felt like progress was made until I was under the $1k mark. I don't know what it is about that mark, but loved it once I got under it!
     
  19. ceemys

    ceemys DIS Veteran

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    Great job no your CC! I agree. My finances always seem to be linked to my eating habits. Whan I am in control of my money, I don't stress eat. Debt control is power. :)
     
  20. gracie1

    gracie1 DIS Veteran

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    You are definitely in control of your finances!! Look at that ticker with 75% saved for your down payment :thumbsup2 I am so happy for you!
     
  21. disney-inspired

    disney-inspired Disney on the brain 24/7/365!

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    Hello, I'm a little late to the game for 2013 but what counts is I'm here right?!

    I accumulated a LOT of CC debt, starting when I could first get a CC at 18yo (now 24, almost 25) and have been a slave to debt since.

    I was unemployed from Jan to March, thank God unemployment kicked in quick and was enough to cover my bills and even put a little aside.

    I started my current (contract) job in March and have since been renewed until Sept, when I hope to be renewed again for the full 18 months allowed.

    I had 4 credit cards, 3 maxed out and one close to it :sad2:
    So far I've paid off one and am now snowballing to the next. Thankfully I get paid every week.

    I'm currently 'in school' to postpone my student loans until I can get a permanent, full-time job.
    I have a Disney trip planned for Sept 2014. So in addition to paying toward my debt each week, I am also saving some for that.
     

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