Debt Dumpers - 2015

[BernardandMissBianca]

Just a quick swing by to see how everyone is doing.
We have hit some major bumps in the road the last few months, a $1200 car repair on my car, new tires to the tune of $900 for my car will be arriving Monday, which equates to at least $100 bill to get them put on. And we got the tuition bill for DD's school for next year, that went up $500. I haven't even paid off this years yet. Thankfully there will only be one kid there next year but I'm having to readjust the budget.
But my car will be paid off in August, and I can not wait! I've already started laying the ground work to pay down some other smaller bills after that is over. I just wish I could pay it now, the low balance is taunting me because I know the end is near.

DH also started a new/old job in February. It was place he was at 3 jobs ago. A small weekly pay cut but with bonuses that will actually be paid ( instead of lies we were told at the old place), he will make the same as the old place yearly and his health has improved because he's no longer in a toxic environment. I'll take a lower paying job any day of the week, as long as he is mentally healthy.

 

[momtosam]

Just a quick swing by to see how everyone is doing.
We have hit some major bumps in the road the last few months, a $1200 car repair on my car, new tires to the tune of $900 for my car will be arriving Monday, which equates to at least $100 bill to get them put on. And we got the tuition bill for DD's school for next year, that went up $500. I haven't even paid off this years yet. Thankfully there will only be one kid there next year but I'm having to readjust the budget.
But my car will be paid off in August, and I can not wait! I've already started laying the ground work to pay down some other smaller bills after that is over. I just wish I could pay it now, the low balance is taunting me because I know the end is near.

DH also started a new/old job in February. It was place he was at 3 jobs ago. A small weekly pay cut but with bonuses that will actually be paid ( instead of lies we were told at the old place), he will make the same as the old place yearly and his health has improved because he's no longer in a toxic environment. I'll take a lower paying job any day of the week, as long as he is mentally healthy.

We have been in the same boat. DH's car has been a really money suck lately, with more work we should do but can put off a little. It has really hit our budget hard. So frustrating.

 

[gracie1]

Just a quick swing by to see how everyone is doing.
We have hit some major bumps in the road the last few months, a $1200 car repair on my car, new tires to the tune of $900 for my car will be arriving Monday, which equates to at least $100 bill to get them put on. And we got the tuition bill for DD's school for next year, that went up $500. I haven't even paid off this years yet. Thankfully there will only be one kid there next year but I'm having to readjust the budget.
But my car will be paid off in August, and I can not wait! I've already started laying the ground work to pay down some other smaller bills after that is over. I just wish I could pay it now, the low balance is taunting me because I know the end is near.

DH also started a new/old job in February. It was place he was at 3 jobs ago. A small weekly pay cut but with bonuses that will actually be paid ( instead of lies we were told at the old place), he will make the same as the old place yearly and his health has improved because he's no longer in a toxic environment. I'll take a lower paying job any day of the week, as long as he is mentally healthy.

Glad you've stopped by!! I agree - a pay cut is worth it to make you mentally happy!! Car repairs are the worst - I put a couple thousand in mine last year and still have little things to do and even though mine is old I want to get at least another couple years out of it!

 

[ruadisneyfan2]

Still, that few thousand in repairs is minor compared to 4 or 5 years of payments. Dh's truck payment is just pennies under $500. That's $6000/year.
We usually take turns with each of us keeping our car for 10 years so that we never have more than 1 car payment at a time. I plan to hold off an extra few years when it's my turn. I take the train to work so my 2006 only has 42,000.
According to The Plan, dh's truck should be paid off 8 months early. We should be able to easily go a year or 2 with NO car payments then we can really start saving.

 

[tikitorie]

Sloooooow going on the debt repayment. Starting to get nervous because we got our EFC for sons college tuition in the fall, Yikes. No summer vacation this year! Throwing everything towards debt. Just keep swimming!

 

[AlohaNow]

It’s official – I’m throwing in the towel

Yep. I give up. One step forward, two steps back is killing me. I have my little debt payoff spreadsheet and it is continually going in the wrong direction. I have my little inspirational quotes on the wall of my office and my big ‘Every Little Bit Counts’ as well. I would list out all the things that we throw onto our one active credit card, but I realize it would just look identical to every other middle class family’s list. It’s not any one thing in particular, it is just everything, and it never changes. It is like yo-yo dieting. Our income isn’t suddenly going to rise and make it all go away. I dig our investment side of things, but our cash flow is continually a mess. I am tired of it.

I think that for my mental health I’m just going to move forward with the fact that we are middle class, do not have the money to cover everything that should be covered, and that stressing over it is no longer worth it. I will accept the fact that we will live with a constant credit card balance of $5,000 to $10,000. I should be saying - hey, at least we have lines of credit and aren’t out on the street. We have only ever been out of debt very briefly the entire time we’ve been married. Were it just me, I could make the necessary changes. But three other people depend on our family budget, and I don’t want to deny my kids their childhood.

Sorry to be so negative, but I just feel like I’m done.

 

[Dentam]

It’s official – I’m throwing in the towel

Yep. I give up. One step forward, two steps back is killing me. I have my little debt payoff spreadsheet and it is continually going in the wrong direction. I have my little inspirational quotes on the wall of my office and my big ‘Every Little Bit Counts’ as well. I would list out all the things that we throw onto our one active credit card, but I realize it would just look identical to every other middle class family’s list. It’s not any one thing in particular, it is just everything, and it never changes. It is like yo-yo dieting. Our income isn’t suddenly going to rise and make it all go away. I dig our investment side of things, but our cash flow is continually a mess. I am tired of it.

I think that for my mental health I’m just going to move forward with the fact that we are middle class, do not have the money to cover everything that should be covered, and that stressing over it is no longer worth it. I will accept the fact that we will live with a constant credit card balance of $5,000 to $10,000. I should be saying - hey, at least we have lines of credit and aren’t out on the street. We have only ever been out of debt very briefly the entire time we’ve been married. Were it just me, I could make the necessary changes. But three other people depend on our family budget, and I don’t want to deny my kids their childhood.

Sorry to be so negative, but I just feel like I’m done.

I hear you - same boat here but I have more debt to pay down than you do. I think it really is so hard to be in the middle class, especially if you live in a pretty expensive city like I do. I don't think my parents were ever completely out of debt when they were raising us either. I know my mom was good at finding 0% cards to continually transfer balances to once one would run out... that could be a way to deal with the debt that could relieve a bit of stress. It is hard and I sympathize!

 

[ruadisneyfan2]

I hear you - same boat here but I have more debt to pay down than you do. I think it really is so hard to be in the middle class, especially if you live in a pretty expensive city like I do. I don't think my parents were ever completely out of debt when they were raising us either. I know my mom was good at finding 0% cards to continually transfer balances to once one would run out... that could be a way to deal with the debt that could relieve a bit of stress. It is hard and I sympathize!

I didn't think they had that stuff back then, or maybe you're much younger than I am. I was raised on the other end of the spectrum. My parents were cash only people. For everything. If you don't have the cash, you can't afford it. Plain & simple. My grandmother would shake her head because my siblings and I got cars with power windows & door locks. (Back in her time that was a HUGE upgrade.) Anyway my parents JUST started using a cc for online shopping and vacation booking for flights, etc. but wouldn't dream of carrying a balance.
My friend's parents were the same way. They would tell her how our generation wants everything immediately. We want now what took our parents a lifetime to achieve.

Sloooooow going on the debt repayment. Starting to get nervous because we got our EFC for sons college tuition in the fall, Yikes. No summer vacation this year! Throwing everything towards debt. Just keep swimming!

I'm in the same boat. That EFC is off the hook. They know nothing about us, our mortgage, our property taxes, etc. I have a week off in August but we'll probably just get ds ready for school. Maybe do a beach day.

It’s official – I’m throwing in the towel

Yep. I give up. One step forward, two steps back is killing me. I have my little debt payoff spreadsheet and it is continually going in the wrong direction. I have my little inspirational quotes on the wall of my office and my big ‘Every Little Bit Counts’ as well. I would list out all the things that we throw onto our one active credit card, but I realize it would just look identical to every other middle class family’s list. It’s not any one thing in particular, it is just everything, and it never changes. It is like yo-yo dieting. Our income isn’t suddenly going to rise and make it all go away. I dig our investment side of things, but our cash flow is continually a mess. I am tired of it.

I think that for my mental health I’m just going to move forward with the fact that we are middle class, do not have the money to cover everything that should be covered, and that stressing over it is no longer worth it. I will accept the fact that we will live with a constant credit card balance of $5,000 to $10,000. I should be saying - hey, at least we have lines of credit and aren’t out on the street. We have only ever been out of debt very briefly the entire time we’ve been married. Were it just me, I could make the necessary changes. But three other people depend on our family budget, and I don’t want to deny my kids their childhood.

Sorry to be so negative, but I just feel like I’m done.

Hang in there. Maybe you just need a break. No matter what you buy or don't buy for your kids, you're not denying them their childhood. As long as they get plenty of love they will look back with fond memories.
Of course we all like for our kids to have nice things and do fun things but sometimes you have to draw the line. I have no qualms telling my kids no sometimes. They would bleed me dry like vampires otherwise.

 

[Dentam]

I didn't think they had that stuff back then, or maybe you're much younger than I am. I was raised on the other end of the spectrum. My parents were cash only people. For everything. If you don't have the cash, you can't afford it. Plain & simple. My grandmother would shake her head because my siblings and I got cars with power windows & door locks. (Back in her time that was a HUGE upgrade.) Anyway my parents JUST started using a cc for online shopping and vacation booking for flights, etc. but wouldn't dream of carrying a balance.
My friend's parents were the same way. They would tell her how our generation wants everything immediately. We want now what took our parents a lifetime to achieve.

I'm in my 30's. We by no means had a ton of new things growing up - we got hand me down clothes from my older cousins, got free lunches at school, lived in a house that was literally falling apart and had various critters living in our walls. But like the previous poster said, she doesn't want her kids to go without certain things and neither did my parents. And my mom was a stay at home mom until we were in junior high so we were all living off of my dad's income. Still to this day I have never had a car with power anything and my current car is 14 years old. So just because someone has cc debt doesn't mean they are living the high life. Sometimes they're just trying to scrape by.

 

[gracie1]

It’s official – I’m throwing in the towel

Yep. I give up. One step forward, two steps back is killing me. I have my little debt payoff spreadsheet and it is continually going in the wrong direction. I have my little inspirational quotes on the wall of my office and my big ‘Every Little Bit Counts’ as well. I would list out all the things that we throw onto our one active credit card, but I realize it would just look identical to every other middle class family’s list. It’s not any one thing in particular, it is just everything, and it never changes. It is like yo-yo dieting. Our income isn’t suddenly going to rise and make it all go away. I dig our investment side of things, but our cash flow is continually a mess. I am tired of it.

I think that for my mental health I’m just going to move forward with the fact that we are middle class, do not have the money to cover everything that should be covered, and that stressing over it is no longer worth it. I will accept the fact that we will live with a constant credit card balance of $5,000 to $10,000. I should be saying - hey, at least we have lines of credit and aren’t out on the street. We have only ever been out of debt very briefly the entire time we’ve been married. Were it just me, I could make the necessary changes. But three other people depend on our family budget, and I don’t want to deny my kids their childhood.

Sorry to be so negative, but I just feel like I’m done.

Your not being negative - your expressing how we've all felt or feel!! You shouldn't stress yourself out though by trying to do the budget. Everyone is different with how we do stuff and yes, most of us say lay out the budget. Maybe for you it would be easier to just pick a cc and put any extra you can towards it each month. We all know how you feel, one step forward and two back. I've gotten to the point not even looking or getting excited because when I do Murphy hits!!
How do you feel you are denying your kids their childhood? When I was growing up we didn't have much money and I can say we might've taken 3 vacations - 2 of them to busch gardens and one to dutch wonderland- all in driving distance and we had to pack food because we couldn't afford restaurants. But looking back I don't feel like my childhood was deprived. I think sometimes as a parent you put more pressure on yourself.

 

[bcwife76]

I do agree with the general sentiment that kids really don't need a lot - they need a roof over their heads, they need food in their bellies, they have a right to an education and they should be healthy and generally happy. Anything over that is gravy. But this IS a different time we are living in. Kids these days just generally have MORE stuff.
I was born in the late 70's so consider myself a child of the 80's. I had two childhoods; ages -7 were pre parents divorce. We went to England every year (my parents originate from there) and while accomodations were free (stayed with friends and family) we travelled every summer for 6 weeks at a time, all over the country. Flew on British Airways 747 and while not first class, it was still pretty comfy.
Age 7(nearly 8) onwards my parents divorced. My dad kept the house, my mom and I moved into a basement suite. She had to go back to work (previously she had worked with my dad and he bought her out of the business) so she worked in a deli for a few years before getting back into teaching. There were no trips to England. Hell we didn't go ANYWHERE until my mom remarried when I was 12 and my stepdad (bless his heart) LOVED to travel so we travelled a lot while I was a teenager. But as an only child my parents kind of....well I don't want to say they tried to buy my affection, but honestly yes I think they did. And I would rather have had a happy family with two parents together than parents fighting constantly and buying me things.

I don't know, I'm sorry I'm rambling. I think my point is that we ALL try to do the best by our kids, for our kids, no matter our situation. Debt is daunting, debt is annoying, and for many, many of us, debit is inevitable. We live in a VERY high cost of living area; I'm a stay at home mom and we do our best. For me travelling is in my blood and I just can't give it up......I throw in the towel so to speak on debt repayments every now and again but honestly it nags at me so I get right back up and we pull our boot straps up and try try try to make more of a dent.

 

[dayvewc]

It's not much, but I got a refund from my dentist today for $21. Getting deposited this week, and then applied to my CC.

I agree it is rough. But I figure even at one step forward and two steps back, I'm only one step back. If I didn't take the step forward, I'd just be two steps behind.

 

[ALK$Disney]

So I go to make my regular mortgage online today and I was unpleasantly surprised that my normal payment went up by $288. The property taxes on my home went up by $1500 for 2014. So with the new tax and a shortage adjustment for escrow, now I am paying almost $300 a month. PERFECT!! Thanks Uncle Sam! I was hoping to save at least 8k this year, now I can deduct $3600 from that. So mad.

 

[Dentam]

Well, my puppy decided to "help" me in my debt dumping endeavors by chewing up one of my cc's this morning! Good dog!

 

[Dentam]

So I go to make my regular mortgage online today and I was unpleasantly surprised that my normal payment went up by $288. The property taxes on my home went up by $1500 for 2014. So with the new tax and a shortage adjustment for escrow, now I am paying almost $300 a month. PERFECT!! Thanks Uncle Sam! I was hoping to save at least 8k this year, now I can deduct $3600 from that. So mad.

That's a huge bummer - so sorry!

 

[dayvewc]

Well, my puppy decided to "help" me in my debt dumping endeavors by chewing up one of my cc's this morning! Good dog!

Hmmm, maybe you can market this training and get paid to have your puppy teach other dogs.

"Dog Assisted Debt Dumping by Dentam - guaranteed to prevent the addition of new debt" I can see the business cards now.

 

[Dentam]

Hmmm, maybe you can market this training and get paid to have your puppy teach other dogs.

"Dog Assisted Debt Dumping by Dentam - guaranteed to prevent the addition of new debt" I can see the business cards now.

Ha! I could use the extra income that's for sure! And I keep telling her she's going to need to get a job to cover all of the stuff she destroys. It would be a win, win!

 

[Dentam]

How was your trip to DL and your stay at the lodge there, dayvewc?

 

[gracie1]

So I go to make my regular mortgage online today and I was unpleasantly surprised that my normal payment went up by $288. The property taxes on my home went up by $1500 for 2014. So with the new tax and a shortage adjustment for escrow, now I am paying almost $300 a month. PERFECT!! Thanks Uncle Sam! I was hoping to save at least 8k this year, now I can deduct $3600 from that. So mad.

Sorry to hear that - that is a huge difference in your budget! I actually cancelled my escrow account in the first year of my mortgage and pay for it separately. And my homeowners went up this year - not even that significant but it was with the budget!

 

[gracie1]

Well, my puppy decided to "help" me in my debt dumping endeavors by chewing up one of my cc's this morning! Good dog!

That is too funny!!