Debt Dumpers - 2016

[scdak]

It struck me tonight that I can't remember the last time I used a credit card. Now I'm only talking like a month or so, so it isn't that earth shattering, but I honestly can't recall what my last cc purchase would have been.

I too have that same "problem" LOL, I will not pull out a CC to pay for anything right now, thanks in part to this thread! I have used it online but it has been for some things I required but not for unnecessary, mindless shopping for things I just found while surfing the net!

 

[Marlyn]

I'm jumping onto this bandwagon too. Our debt has gotten a bit out of control and it's time to get paying it down. I just paid off a $1000 credit card bill....not going to use that card anymore. Now onto the next one.....

 

[Miss Whimsy]

hooookay I'm back. It's been a rough 2016 so far, we had to put down the cat that we've been fighting to keep alive since August. Still makes me sad to think about.

Anyway, financially I'm actually doing pretty well (probably because I don't have vet bills any more). My goal was to pay off my final student loan in the first quarter of the year and I have been VERY aggressive and it looks like it is totally going to happen! So that's good at least.

I hope to be around more now! With the cat situation I wasn't feeling very sociable...

 

[dayvewc]

1. Would you be willing to share all your best frugal, cost cutting, money saving/making tips to see if there's anything I have overlooked to help raise this money faster than I currently am? I do a lot of things already, but I want to leave no stone unturned.

2. Should I take some of the tax refund and put it towards this trip? I really, really want to...and I feel like we owe it to ourselves.

1) Buy in bulk and buy on sale. Don't waste anything (I eat lots of leftovers, for days at a time). Basic cable/satellite (or none). Turn off the central heat, wear warm clothes and make lots of oven meals.

2) Will you be able to save enough with the refund to pay for the trip? If so, I say go for it. But if you won't be able to save enough for this summer I'd recommend planning it out for next summer instead, and start budgeting for it now.

Just my $0.02

 

[gracie1]

1) Buy in bulk and buy on sale. Don't waste anything (I eat lots of leftovers, for days at a time). Basic cable/satellite (or none). Turn off the central heat, wear warm clothes and make lots of oven meals.

2) Will you be able to save enough with the refund to pay for the trip? If so, I say go for it. But if you won't be able to save enough for this summer I'd recommend planning it out for next summer instead, and start budgeting for it now.

Just my $0.02

Is it warm where you live? There is no way we could turn off our heat! And you have to remember - for those living in extremely cold conditions you don't want to risk your pipes freezing and bursting - then Murphy has to swoop in!

 

[gracie1]

I'm jumping onto this bandwagon too. Our debt has gotten a bit out of control and it's time to get paying it down. I just paid off a $1000 credit card bill....not going to use that card anymore. Now onto the next one.....

Welcome!! That is awesome that you were able to pay off a $1k cc!!

 

[gracie1]

This is going to be a bit long winded...but bear with me!!

When the kids were 4 and 2 (so, 9 years ago this summer) DH had the opportunity to attend a work conference in Paris and I went with him. We left the kids with my parents and were gone 9 days. We saw them in the morning of day one and the evening of day nine, so it was one full week with only a phone call to them at the half way mark. Leaving them when they were that small was rough but they had a great time with grandma and grandpa and DH and I had a total blast! In depth Paris on our own for a week. (We did a seven country European bus tour on our honeymoon and has less than 48 hours in Paris on that trip.)

The kids have never forgiven us for it! ALL of our vacations except that one have been as a family. And they never let us forget it!

They are in french immersion in school and have had an intense fascination with Paris dating back to that trip. I have been saving up for a London/Paris trip since the beginning of September. With most of our money going to Emergency savings and the down payment for a house...there's no ACTUAL money dedicated to vacations in our budget. I figured we would be able to go for about 10-12 days in the summer of 2017.

We always get a tax refund. It varies in amount but generally I think we should be able to expect about $2500 back this year. Back in the day, this money always went to debt. We always said it would go towards vacations once we cleared our debt but last year we put most of it into savings. This year we planned to save it all. It's bugging me though...since we used to say it would (and should) be fun money once our debts were discharged. But we made the house savings a priority this year, so that was the decision.

DD turns 13 at the end of July and is DESPERATE to celebrate her transition into her teens with this trip. She wants to be able to say, "I went to Paris the summer I turned 13." I love this. It's the kind of thing I would have wanted at her age. I honestly don't know if I can make it happen but I am determined to try.

So...I have two questions:

1. Would you be willing to share all your best frugal, cost cutting, money saving/making tips to see if there's anything I have overlooked to help raise this money faster than I currently am? I do a lot of things already, but I want to leave no stone unturned.

2. Should I take some of the tax refund and put it towards this trip? I really, really want to...and I feel like we owe it to ourselves. I am a little afraid to broach the subject with DH, not because I think he'll be upset about it, or even disagree really...I just can't seem to make up my own mind about it and if I have his stance one way or the other...the decision will be irreversible and I'm not ready to make that commitment yet.

I proof read this baby and all I could think of was...first world problems.

Have you priced out the total cost of the trip with airfare, lodging, food and all the tour tickets etc? I would get your total price together first. Then look at the budget and determine if you can afford it. Do you have any money set aside to vacation? I know that it would be great to say you went to Paris for your 13th birthday but if the funds aren't available I couldn't justify going into debt to go - since you were planning on trying to go in 2017 it would only be another year. Would your tax refund cover the complete cost?

 

[Angeejoe]

hooookay I'm back. It's been a rough 2016 so far, we had to put down the cat that we've been fighting to keep alive since August. Still makes me sad to think about.

Anyway, financially I'm actually doing pretty well (probably because I don't have vet bills any more). My goal was to pay off my final student loan in the first quarter of the year and I have been VERY aggressive and it looks like it is totally going to happen! So that's good at least.

I hope to be around more now! With the cat situation I wasn't feeling very sociable...

So sorry to hear of your loss

 

[stayhomemom77]

Have you priced out the total cost of the trip with airfare, lodging, food and all the tour tickets etc? I would get your total price together first. Then look at the budget and determine if you can afford it. Do you have any money set aside to vacation? I know that it would be great to say you went to Paris for your 13th birthday but if the funds aren't available I couldn't justify going into debt to go - since you were planning on trying to go in 2017 it would only be another year. Would your tax refund cover the complete cost?

No, I haven't priced it out officially, although I do have a pretty good idea of what we would need in order to do what we want to do. If we used the tax refund...we'd have enough for the trip. We'd never go into debt for a vacation!!

 

[stayhomemom77]

Sorry...I should have clarified...we fund our travels with found money. I can usually scrape together $200-$300 a month to go towards our vacation account. If we used the tax refund for this vacation, we could go this year (most likely). We have to wait until April or May before we can book anything (due to DH's work) so assuming flight prices don't jump a ton we should be on track.

 

[dayvewc]

Is it warm where you live? There is no way we could turn off our heat! And you have to remember - for those living in extremely cold conditions you don't want to risk your pipes freezing and bursting - then Murphy has to swoop in!

It is relatively warm here. We get days (and sometimes weeks at a time) below freezing, but nothing like northern climes. I did live for a year in Minnesota, so I do actually know what cold can be like. ;-)

I was being a little bit tongue-in-cheek with that suggestion. When we are going to have a long-term freeze (or long-term for us) I do turn the heat on, but I keep it at the lowest setting possible. And it worked much better when I lived by myself. Between the heat from the oven cooking, sweats, and my dogs, I stayed warm enough. Granted, mornings were very chilly sometimes, but it did save money.

Now, with roommates, I don't do that anymore, although I am not sure if I should laugh or scream. Came in from work the other day, and one roommate had a space heater going in one bedroom, while the other had the window air-conditioner going in another. Just make up your minds, people!

 

[dayvewc]

And, I filed my taxes just now. Was checking the tax refund schedule, and barring something wrong with them, I can expect my federal refund by 2/26. Very happy. Fingers crossed I made no mistakes!

Edit: 45 minutes after I submitted my tax form, I got an email stating that the federal had been accepted. Woo-Hoo!!

 

[rnorwo1]

No, I haven't priced it out officially, although I do have a pretty good idea of what we would need in order to do what we want to do. If we used the tax refund...we'd have enough for the trip. We'd never go into debt for a vacation!!

Would you even have enough time to plan it? I would need a solid year to make sure I knew every nook and cranny (where to go, what to do, where to eat, etc) of the country before going. I know you've been before, but it may be a different trip with kids. Only you know your budget and whether or not it's justifiable to divert the funds (and, after talking to your DH, you may have your decision!). I agree, saying "I went to Paris when I turned 14," or whatever year, will be just as wonderful as 13, and your younger child will be a little older and can enjoy it more, also. On the other hand, I have never regretted traveling!

If you do decide to go, have you looked into credit card sign up rewards to at least get some of the airfare free? If credit card use has been a problem in the past, then definitely don't do it, but we have travelled so much for practically free, and I don't even do the crazy manufactured spending things that others do. Look at vrbo and other alternative housing options (or credit card hotel rewards) to make lodging cheaper. When we were in France, we ate at only a few nice restaurants... Our most memorable meals were things bought from the food stands, like simple baguettes. Sooooo good, and so cheap!

Come back and let us know what you decide!!

 

[mrsabbott]

So, Hubs has a sort of job interview tomorrow! Well, a former co-worker of his left for a new job several months back. This guy called Hubs and said he current employer is looking to hire two more mechanics, and he thought Hubs would be perfect. I guess there is potential for lots more money to be made and a better work schedule. So, Hubs is going by there tomorrow so he can be introduced to the manager and discuss it. Right now, Hubs works at least 60 hours a week. His pay fluctuates a lot, and his hours don't allow him to spend much time with us. So, this job could potentially be a good thing..

 

[dayvewc]

Government is on the ball!!! 9 hours and 40 minutes after I submitted my taxes, they were accepted by the state. Now it is just a matter of waiting for the deposits, and I can pay on/ pay off some debt!! (And hold a little back for Spring Break)

 

[momtosam]

Government is on the ball!!! 9 hours and 40 minutes after I submitted my taxes, they were accepted by the state. Now it is just a matter of waiting for the deposits, and I can pay on/ pay off some debt!! (And hold a little back for Spring Break)

Hooray! I filed the week that there was some kind of irs computer glitch and I was stuck at accepted for days (as opposed to approved). I was panicked that I did something wrong, but then found out online that a bunch of other people were having the same problem. I've since received our refund, so all is good.

 

[Dentam]

Government is on the ball!!! 9 hours and 40 minutes after I submitted my taxes, they were accepted by the state. Now it is just a matter of waiting for the deposits, and I can pay on/ pay off some debt!! (And hold a little back for Spring Break)

Hooray! Mine were accepted right away too, then took a few days to be approved, then I got the federal deposit two days after approval. All in all, it only took 6 full days from filing to my refund being deposited (for the federal return) - my state refund is supposed to be deposited early this week. I bet you will get yours around the 20th!

 

[Eureka]

It struck me tonight that I can't remember the last time I used a credit card. Now I'm only talking like a month or so, so it isn't that earth shattering, but I honestly can't recall what my last cc purchase would have been.

That's awesome! We have some recurring expenses that go on the cc, like EZ pass and Netflix, but other than that, (I don't count that bc we pay off those amounts every month) we have not used them since Dec when we put the kids' big gift (laptops) on there and my plane ticket. So nice to see the balances going down!

 

[Eureka]

This is going to be a bit long winded...but bear with me!!

When the kids were 4 and 2 (so, 9 years ago this summer) DH had the opportunity to attend a work conference in Paris and I went with him. We left the kids with my parents and were gone 9 days. We saw them in the morning of day one and the evening of day nine, so it was one full week with only a phone call to them at the half way mark. Leaving them when they were that small was rough but they had a great time with grandma and grandpa and DH and I had a total blast! In depth Paris on our own for a week. (We did a seven country European bus tour on our honeymoon and has less than 48 hours in Paris on that trip.)

The kids have never forgiven us for it! ALL of our vacations except that one have been as a family. And they never let us forget it!

They are in french immersion in school and have had an intense fascination with Paris dating back to that trip. I have been saving up for a London/Paris trip since the beginning of September. With most of our money going to Emergency savings and the down payment for a house...there's no ACTUAL money dedicated to vacations in our budget. I figured we would be able to go for about 10-12 days in the summer of 2017.

We always get a tax refund. It varies in amount but generally I think we should be able to expect about $2500 back this year. Back in the day, this money always went to debt. We always said it would go towards vacations once we cleared our debt but last year we put most of it into savings. This year we planned to save it all. It's bugging me though...since we used to say it would (and should) be fun money once our debts were discharged. But we made the house savings a priority this year, so that was the decision.

DD turns 13 at the end of July and is DESPERATE to celebrate her transition into her teens with this trip. She wants to be able to say, "I went to Paris the summer I turned 13." I love this. It's the kind of thing I would have wanted at her age. I honestly don't know if I can make it happen but I am determined to try.

So...I have two questions:

1. Would you be willing to share all your best frugal, cost cutting, money saving/making tips to see if there's anything I have overlooked to help raise this money faster than I currently am? I do a lot of things already, but I want to leave no stone unturned.

2. Should I take some of the tax refund and put it towards this trip? I really, really want to...and I feel like we owe it to ourselves. I am a little afraid to broach the subject with DH, not because I think he'll be upset about it, or even disagree really...I just can't seem to make up my own mind about it and if I have his stance one way or the other...the decision will be irreversible and I'm not ready to make that commitment yet.

I proof read this baby and all I could think of was...first world problems.

I say do the trip. The kids are only with us (as in, in our household) for so long...this hit me this year when DS15 started high school and I suddenly realized he is only "ours" for three more years (other DS will be 13 soon so not far behind). DH really wants to do London with the kids. He and I did a long weekend in Paris (4 nights) right after we found out I was pregnant with DS15, it was awesome, but we've always known we'd like to take them to Europe if we can. For various reasons we are not going to the beach this summer, so we'll be able to do another vacation instead and are currently thinking about options.

 

[stayhomemom77]

Would you even have enough time to plan it? I would need a solid year to make sure I knew every nook and cranny (where to go, what to do, where to eat, etc) of the country before going. I know you've been before, but it may be a different trip with kids. Only you know your budget and whether or not it's justifiable to divert the funds (and, after talking to your DH, you may have your decision!). I agree, saying "I went to Paris when I turned 14," or whatever year, will be just as wonderful as 13, and your younger child will be a little older and can enjoy it more, also. On the other hand, I have never regretted traveling!

If you do decide to go, have you looked into credit card sign up rewards to at least get some of the airfare free? If credit card use has been a problem in the past, then definitely don't do it, but we have travelled so much for practically free, and I don't even do the crazy manufactured spending things that others do. Look at vrbo and other alternative housing options (or credit card hotel rewards) to make lodging cheaper. When we were in France, we ate at only a few nice restaurants... Our most memorable meals were things bought from the food stands, like simple baguettes. Sooooo good, and so cheap!

Come back and let us know what you decide!!

I say do the trip. The kids are only with us (as in, in our household) for so long...this hit me this year when DS15 started high school and I suddenly realized he is only "ours" for three more years (other DS will be 13 soon so not far behind). DH really wants to do London with the kids. He and I did a long weekend in Paris (4 nights) right after we found out I was pregnant with DS15, it was awesome, but we've always known we'd like to take them to Europe if we can. For various reasons we are not going to the beach this summer, so we'll be able to do another vacation instead and are currently thinking about options.

I've had a loose outline of what we would do as a family in Paris for about six years now. Nailing down the particulars could be fairly easily planned within two to six weeks (which is how I define last minute).

The kids are seasoned travellers and would have a great time whether we go this year or whether we were to wait and go next year.

Basically, only the fact that we were going to be "responsible" with the tax refund hampers this trip. If we decide to use it all towards the vacation instead, we will have the money we need to do it. If we use only some (or none) I have a rather large shortfall to make up (essentially out of thin air). If I can't do it...the trip will happen next year as originally scheduled.

I spoke to DH about it last night. He can always tell when I am ruminating about something and he pulled it out of me. He was absolutely no help! He feels just as I do...that it's probably more prudent to go next year and put the tax refund into savings like we previously discussed, but if we didn't do that it wouldn't be a big deal. We are saving a nice chunk each month, so using the refund as mad money isn't irresponsible or anything. He sees the merit in taking the kids this summer but isn't sure if we should just pull the trigger.

He suggested we research a Paris-only trip to see if it's cheaper. I began looking into that last night. Flights are higher but we wouldn't have to take the train between London and Paris, so those factors may end up cancelling each other out. I need to put in more work before I know for certain.

We're pretty easy for the food. We'll rely heavily on the grocery store and the boulangerie patisseries and just have a couple of nice sit down meals.

Thanks for the credit card suggestion...I'll look into that.

@Eureka...I've been thinking about how fast it goes lately and that's why I want to try and make this happen for this year. If I can't do it, I can't do it. The worst thing that can happen is that we have to wait another year. That's not really a big deal and I don't see any harm in trying.

Basically, after talking to DH...we've decided to get a real plan going (for this year) and see if we can make it happen. If we can't, we shift the plan forward 12 months. We aren't going to tell the kids we are attempting to pull this off this year instead of next year, so they won't be disappointed if we fail.

I track my vacation earnings/savings on this thread http://www.disboards.com/threads/one-year-to-save-2016.3471971/ if anyone is interested. I'll be doing regular updates and stuff over there.

Thanks for all the input everyone and wish me luck...I might just need it!!