Debt Dumpers - 2013

[ceemys]

You have come so far with your savings this year. You should be proud and this is no time to have DOUBTS about yourself. You know the rules of the game and seem to have played everything just as you should. I hope that you get a good interest rate as I have seen them climbing up recently. It is not uncommon for them to do several checks along the process and it should be no big deal.

Thank you. I am worried about the interest rate. I hope it doesn't rise too much.

 

[mermaidwannabe]

Well, I've just spent this week inputting everything into YNAB!! I've taken 3 webinars that helped a lot explaining how to do this. It looked very complicated and overwhelming at first. Still overwhelming. Hope I can get DH on board more - last night, he said, "Why do you need to learn that program? You get so much money in each month to spend so you spend that." That's why we aren't saving any though. I think once he sees that we have to cut back (good Lord, my family is going to be in shock to do that), so we can save. Somehow all our money gets spent each month since it's there. Anyways, thank you to those who encouraged me to get YNAB! I'm excited to try this!!

 

[vicki_c]

Well, I've just spent this week inputting everything into YNAB!! I've taken 3 webinars that helped a lot explaining how to do this. It looked very complicated and overwhelming at first. Still overwhelming. Hope I can get DH on board more - last night, he said, "Why do you need to learn that program? You get so much money in each month to spend so you spend that." That's why we aren't saving any though. I think once he sees that we have to cut back (good Lord, my family is going to be in shock to do that), so we can save. Somehow all our money gets spent each month since it's there. Anyways, thank you to those who encouraged me to get YNAB! I'm excited to try this!!

I think the difference is, with a true budget, while all the money you have coming in gets ALLOCATED to something, it doesn't necessarily get SPENT because some might be waiting for a future planned expense (like a quarterly water bill for example). Not SPENDING all the money is what allows you to have some in the future.

 

[mermaidwannabe]

I think the difference is, with a true budget, while all the money you have coming in gets ALLOCATED to something, it doesn't necessarily get SPENT because some might be waiting for a future planned expense (like a quarterly water bill for example). Not SPENDING all the money is what allows you to have some in the future.

Yes, I love that! I tried explaining to DH that we can start saving up for sports fees, xmas, etc. We've always done this with vacation since I wouldn't be able to stand being on vacation knowing it wasn't paid for. All these other things, like Sports Camps, Sports Club fees, etc. we've just been taking out of savings, and wowza, our savings account went DOWN this year to the point where there won't be one and then what! We don't eat out very often, but there are always a lot of extras so I know YNAB will show this and will probably shock us after seeing where our money goes. And this will be a good lesson for kids that maybe we have to wait a few weeks or a month to buy some of their school clothes or whatever since we usually just buy whatever we need.

 

[peel]

Well, I've just spent this week inputting everything into YNAB!! I've taken 3 webinars that helped a lot explaining how to do this. It looked very complicated and overwhelming at first. Still overwhelming. Hope I can get DH on board more - last night, he said, "Why do you need to learn that program? You get so much money in each month to spend so you spend that." That's why we aren't saving any though. I think once he sees that we have to cut back (good Lord, my family is going to be in shock to do that), so we can save. Somehow all our money gets spent each month since it's there. Anyways, thank you to those who encouraged me to get YNAB! I'm excited to try this!!

Did your DH take part in any of the webinars or see the video tutorials? This was the key to getting my own DH on board with changing the way we handle money. We're still adjusting categories and basically just tracking spending this month, but already he has seen the light in terms of spending from categories and not from the bank accounts (or credit cards, which is mostly what he did). If I just tried to explain it to him he would have brushed it off, but seeing the tutorials made a bigger impact. We've also been opening joint accounts and moving funds around in order to be totally in each others' hands when it comes to spending. I thought this was an important step to do right at the beginning, even though it's complicating the initial setup process. We were together for 11 years before we got married, so we've always just kept everything separate because that's what we were used to. It will be much easier to hold ourselves accountable for spending choices when we are clearly affecting the overall bottom line and not just our own personal accounts.

Yay for getting more for your books than expected!! Ever since we've started YNAB I've been finding things all over the house I can sell, it's so nice to be able to record an extra income and see the "available to budget" number go up. And I love knowing I'm decluttering the house at the same time.

We're doing another eBay roundup tonight! I have a few things that I had picked up at yard sales or estate sales in the past couple of years that I was purposely hanging onto until I really needed some extra money. Now with YNAB, I can trust myself that if I do sell the items I won't blow the money on other "stuff", and instead assign it to a category where it will do the most good.

 

[mermaidwannabe]

Hi Peel - No, DH had no interest at all in the webinars. In face, he asked if I'd turn the volume down on the computer so he could hear the TV better lol. But I will try slowly to get him involved. Thanks!

 

[peel]

Hi Peel - No, DH had no interest at all in the webinars. In face, he asked if I'd turn the volume down on the computer so he could hear the TV better lol. But I will try slowly to get him involved. Thanks!

Oh well, some people take longer to see the light than others.

 

[mermaidwannabe]

Oh well, some people take longer to see the light than others.

Yes, mine certainly does.

 

[gracie1]

All I can think of is this

"I'm OUT!!!!!!!!!!! OF DEBT!!!

For months I have been reading along and working so hard to get myself out of a very bad situation.
Without betraying a certain persons privacy
I bought a cottage with a family member 3 years ago. This was a secure investment that went so far south of the border due to a fast addiction to drugs by the other party. The stress in my life has been twofold-concern the person was and is going to die and the financial responsibility that I may lose everything.
Well as of yesterday the cottage sold and I have redone all of my finances,as of Sept 1st I will only have my primary home mortgage and will never again get involved with a joint ownership of property or home equity line of credit EVER AGAIN! 2013 has been the worst time of my life.

To anyone living or dealing with someone that has a drug addiction there is light at the end of the tunnel and hope.

Best wishes to everyone who is dealing with paying off debt
I will say a prayer for you.
BIG HUGS
Mel

Congrats on being able to sell the cottage and be debt free!! I know this must be a huge relief!!

 

[gracie1]

That's great news, I'm sure he'll make a speedy recovery now that they know what's wrong.

Unfortunately, I only have negative news to report. Yesterday, I paid back the $395 to the evil government, and then DH's car decided the $1600 worth of car repairs it had earlier this month was not enough and shredded its serpentine belt to the tune of $290. Can't wait to go to the vet for Annie's Round 3 of chemo in a couple of weeks--$540.

I can't help but feeling if I didn't start up with YNAB this month these things wouldn't be bothering me so much....put them on the CC and deal with them later. But now that I caught a glimpse of building a quick buffer, it stings even more that we will be behind by the time July is over. There is a tiny bright spot--I quickly sold a bunch of my textbooks on Amazon for $160, which was a lot more than I was expecting to get for them.

You gotta love the cost of car maintenance!! The last time I had my s-belt replaced it was $600!! And then, to top it off, after they replaced it they told me the pulley may need to be replaced down the road. Well, wouldn't you know within 2 weeks the pulley busted and when that happens it busts your belt! So I had to have another s-belt put on!

 

[gracie1]

Once again, my work has stopped me from following this thread like I like. But my huge 2-3 month project is over! A lot of work but nothing as big as the last one was.

I have read through some pages and Big hugs to the ones that are struggling. I see a lot of awesome reports on paying things off, setting up the savings, or even just starting and realizing even though you have a lot of debt, you are in control now and will knock it out!

With work, I haven't been on top of my finances and we have been eating out more than I would like. But this weekend, I am sitting down and getting caught up. Two weeks of receipts to input lol. I don't use YNAB, I have quicken, but I should really utilize the budget that the program offers. I just use it for now on my checking account. I had my daughter open a checking account and she is putting all of her babysitting money in there.

I had my construction meeting yesterday on my house. Even though I was pre-approved last year, they have to do another pre-approval from my mortgage company. Then they have to do a 3rd pre-approval 10 days before closing. I am so nervous!! I have done everything the mortgage guy said with my CC. No more than $50 at any given time and always leave at least $10 in the account. I really hope that increases my credit score.

Good news is I am 93.5% saved to my downpayment!!! Holy cow! I pray that it isn't all for nothing if I don't get re-approved. This is making me sick to my stomach.

Christine

Good luck on your pre-approval!! Wow, I can't believe your 93.5% there already!! That is fantastic and you should be super proud of yourself!!!!

 

[AuroraRora]

Good luck on the pre-approval ceemys!!! That's so awesome, to have so much of the down payment saved, you should be really proud of yourself!

I worked my booty off all week with some extra hours and today I get to send a big extra snowball towards my student loan . I was also out of town for work last night and the hotel screwed up my reservation, and they tried to comp me $50 but it was booked through my work so instead they gave me a pre-paid visa card thing with $50 on it. I SO planned to be a good girl and put it towards my debt too, but I went out running errands today and somehow it wound up paying for coffee, sushi and bottle of wine Oh well, at least it was free!

 

[momof2gr8kids]

Yes, I love that! I tried explaining to DH that we can start saving up for sports fees, xmas, etc. We've always done this with vacation since I wouldn't be able to stand being on vacation knowing it wasn't paid for. All these other things, like Sports Camps, Sports Club fees, etc. we've just been taking out of savings, and wowza, our savings account went DOWN this year to the point where there won't be one and then what! We don't eat out very often, but there are always a lot of extras so I know YNAB will show this and will probably shock us after seeing where our money goes. And this will be a good lesson for kids that maybe we have to wait a few weeks or a month to buy some of their school clothes or whatever since we usually just buy whatever we need.

I find September to December a huge financial drain, with kids back to school and sports, etc and something always went on the cc. Last pay though I paid half of ds' hockey and put some money away towards dd's installment for her diving. So when Sept. comes it's there, and the savings (or cc) won't get used this year.

 

[momof2gr8kids]

Once again, my work has stopped me from following this thread like I like. But my huge 2-3 month project is over! A lot of work but nothing as big as the last one was.

I have read through some pages and Big hugs to the ones that are struggling. I see a lot of awesome reports on paying things off, setting up the savings, or even just starting and realizing even though you have a lot of debt, you are in control now and will knock it out!

With work, I haven't been on top of my finances and we have been eating out more than I would like. But this weekend, I am sitting down and getting caught up. Two weeks of receipts to input lol. I don't use YNAB, I have quicken, but I should really utilize the budget that the program offers. I just use it for now on my checking account. I had my daughter open a checking account and she is putting all of her babysitting money in there.

I had my construction meeting yesterday on my house. Even though I was pre-approved last year, they have to do another pre-approval from my mortgage company. Then they have to do a 3rd pre-approval 10 days before closing. I am so nervous!! I have done everything the mortgage guy said with my CC. No more than $50 at any given time and always leave at least $10 in the account. I really hope that increases my credit score.

Good news is I am 93.5% saved to my downpayment!!! Holy cow! I pray that it isn't all for nothing if I don't get re-approved. This is making me sick to my stomach.

Christine

Wow - congrats on the downpayment savings! Positive vibes sent your way for a pre-approval - although I don't think you'll need them - you're doing quite fine!

I hear you about being busy with work and blowing your budget. We've been crazy busy with work and some extracurricular activities the past couple of weeks. Now I can take a breather and get back on track. But yeah - lots of quick runs to the store to grab something easy to make for dinner, adding those little extras in before check out.

 

[manning]

That's going be a big help in paying off your debt.

 

[ceemys]

Good luck on your pre-approval!! Wow, I can't believe your 93.5% there already!! That is fantastic and you should be super proud of yourself!!!!

Thanks! I've never had so much cash at one time in my bank. lol

Good luck on the pre-approval ceemys!!! That's so awesome, to have so much of the down payment saved, you should be really proud of yourself!

I worked my booty off all week with some extra hours and today I get to send a big extra snowball towards my student loan . I was also out of town for work last night and the hotel screwed up my reservation, and they tried to comp me $50 but it was booked through my work so instead they gave me a pre-paid visa card thing with $50 on it. I SO planned to be a good girl and put it towards my debt too, but I went out running errands today and somehow it wound up paying for coffee, sushi and bottle of wine Oh well, at least it was free!

I need all the pixie dust I you can throw me. Great job on the snowballing. We all deserve a little freebie every now and then. Nice $50.00!

I find September to December a huge financial drain, with kids back to school and sports, etc and something always went on the cc. Last pay though I paid half of ds' hockey and put some money away towards dd's installment for her diving. So when Sept. comes it's there, and the savings (or cc) won't get used this year.

You know, I never thought of that. Now that you have it all written down, I see why the 4th quarter is stressful. Cool that you are paying for the sports early.

Wow - congrats on the downpayment savings! Positive vibes sent your way for a pre-approval - although I don't think you'll need them - you're doing quite fine!

I hear you about being busy with work and blowing your budget. We've been crazy busy with work and some extracurricular activities the past couple of weeks. Now I can take a breather and get back on track. But yeah - lots of quick runs to the store to grab something easy to make for dinner, adding those little extras in before check out.

Thanks!! It is frustrating not being in control. But I am BACK in control of my time, finances AND food! I have started paying $35 a week for fresh fruits and veggies to be delivered to my work. It is from Green Bean Delivery. Since I bought protein on sale last month, I have a stash in the freezer so this delivery is helping me stay away from the store and impulsive buying.

Keep up the good work everyone!

 

[BernardandMissBianca]

So we have yet to refinance, just no time with this new job. Need to do it soon though because the interest rates are creeping up.
But we have paid enough off to the point that I can do the mortgage and the HELOC, and refi for a 15 year loan instead of a 30 and the payment would equal what I'm paying now on both. No $400 savings but it will cut 5 years of interest off the mortgage I have now. That would line us up to have the house paid off before DD graduates from college if we didn't pay any extra.

I did however pay an extra $200 towards CC #1. I hope to have that paid off by August and then start moving on to the next in line.

I also need $7500 for tuition for the 3 little kids. I'd like to pay most of that off before school starts so I don't have $800 a month payments.

 

[mermaidwannabe]

I find September to December a huge financial drain, with kids back to school and sports, etc and something always went on the cc. Last pay though I paid half of ds' hockey and put some money away towards dd's installment for her diving. So when Sept. comes it's there, and the savings (or cc) won't get used this year.

Oh, yes, definitely those months plus school clothes. All 3DDs do sports, and the fees really add up, plus my DD16 does cross country and needs very expensive running shoes each fall. I've already decided to have a little sit-down and let everyone know they will not get all their school clothes at once nor will Christmas be the same as it's been. And then there will be college to think about in a few years so really need to get this under control. Good for you for not having to use savings or cc this September. That is huge!!

 

[Sagginit]

wow everyone is doing great! i haven't been checking in because i have been busy working overtime and then i was on vacation.

i just got my yearly raise and bonus, thankfully i got something as there were rumours that no one was getting anything. i will send 1/3 of that in towards my student loans 1/3 is already in savings and 1/3 is going to pay in part for my trip to disney i just booked i was not sure if it was in the budget but since i have $500 in visa rewards and that money i can swing it. i also did the math and have my loans down enough that i am going to increase my contribution to my 401K.

at the end of the year we should have everyone post how much debt they paid off and come up with a total for the chain

 

[Sagginit]

I find September to December a huge financial drain, with kids back to school and sports, etc and something always went on the cc. Last pay though I paid half of ds' hockey and put some money away towards dd's installment for her diving. So when Sept. comes it's there, and the savings (or cc) won't get used this year.

even as an adult it drains me at that time of year. i usually go on vacation in the fall as its off peak and cheaper, have christmas gifts to buy, and never fails i need new fall clothes (back to school never ends lol). oh and did i mention my birthday as well as the birthdays of most people i know are at that time of year?