Debt Dumpers - 2013

[aclov]

What IS going on with the dang air fair prices....we are booked for October and may bite the bullet and drive because the flights are not dropping at ALL. I live in Indy and usually use Air Tran. Every other time we have snagged cheap flights but now NOTHING.....really irritated!

Gas is so high right now! So that affects the cost of flights as well. It's ridiculous, I imagine people rethinking their vacation plans.

 

[danielle79]

Gas is so high right now! So that affects the cost of flights as well. It's ridiculous, I imagine people rethinking their vacation plans.

My mother-in-law just flew to Florida about a month ago and told me the price of her ticket ( I don't recall how much $) and I was floored at how expensive it was and not even a direct flight! Then she told me that about half of the plane was empty, she took the first flight out in the morning around 6a.m. I just don't understand, wouldn't the airplane companies want to fill their planes and offer a little discount and make it more affordable.

 

[gracie1]

My mother-in-law just flew to Florida about a month ago and told me the price of her ticket ( I don't recall how much $) and I was floored at how expensive it was and not even a direct flight! Then she told me that about half of the plane was empty, she took the first flight out in the morning around 6a.m. I just don't understand, wouldn't the airplane companies want to fill their planes and offer a little discount and make it more affordable.

Exactly!! I am hoping that there are enough people rethinking vaca plans that they end up dropping the $ of airfare. So far the week I have chosen is not going to happen with the price. I will go somewhere else to see Christmas decorations

How is everyone doing this week?? So far everyone seems to be doing such a great job!!
Danielle, when do you start your new job?

 

[milwaukeemommy]

What I decided to do and did a few years back is get a 401k loan to pay off my cc's about 4k. Some may consider this not a smart move but at 4.25% and paying myself back thru payroll deduction is better for me. The key is not charging back up or paying it off right away!

I totally wanted to do this - we couldn't pay off ALL our debt doing this but a good sum - but dh said NO & since it's his 401k, I couldn't argue

There are so many arguments about whether it's right or wrong to do this -- but I'm with you - CC interest rates are so high. I do understand dh's side though - he is a welder & there is always the chance he could get laid off - then we'd have to pay it back in 60 days.

 

[PrincessKymm]

So I'm back on track after being derailed for a bit. I've got my $1k emergency fund, I've started a "doctor fund" for my new health insurance plan, and I've just paid off 25% of my smallest credit card. I'm also working on paying off 2 particular doctor bills since we need to see these doctors soon so it's not quite as easy to snowball these bills. I should have both credit cards and both doctors paid off by the end of August. I've never had a plan that would work before. I believe the emergency fund is what is making the difference. It doesn't help me sleep at night but it sure does motivate me!

 

[Doodlebug939]

So I'm back on track after being derailed for a bit. I've got my $1k emergency fund, I've started a "doctor fund" for my new health insurance plan, and I've just paid off 25% of my smallest credit card. I'm also working on paying off 2 particular doctor bills since we need to see these doctors soon so it's not quite as easy to snowball these bills. I should have both credit cards and both doctors paid off by the end of August. I've never had a plan that would work before. I believe the emergency fund is what is making the difference. It doesn't help me sleep at night but it sure does motivate me!

You are off to a great start. The emergency fund is working really well for me too. I have found that when "unexpected" things come up I have to make do without using it and that they were not as unexpected as I thought just poor planning on my part. So I am writing them down as it happens (which is less often now) so that in the next year I will be ready.

I like how you stated that you paid of 25% of your smallest card. It doesnt matter how much or little that amount is in reality but to see 25% means you are 1/4 of the way done and that sounds good in any language.

Have a great day!

 

[danielle79]

Exactly!! I am hoping that there are enough people rethinking vaca plans that they end up dropping the $ of airfare. So far the week I have chosen is not going to happen with the price. I will go somewhere else to see Christmas decorations

How is everyone doing this week?? So far everyone seems to be doing such a great job!!
Danielle, when do you start your new job?

June 3rd is the official first day of training, I need to go out of town for a week of training, which is a bit nerve wracking! I have never been away from my kids for that long. I hope that airfare prices go down, it seems no one wants to fly because of the prices!

 

[jenny105]

Thank you so much Jenny105 and Gracie1! I am so excited to start something new that could potentially make us some big Disney spending$$$$! And isn't that why we all work!!!! I feel like our debt could be done by middle of next year except for a car payment that is looming in the , I have no payment now but I have a 11 year old van with 155k miles on it and the body is rusting pretty bad due to all the salt in the winter around here. Still runs good but getting older and uglier everyday!

My car is 11 years old too but it's in pretty good condition (knock on wood). I'm lucky because my boyfriend is a mechanic But I'm dealing with rust issues too!

 

[kate_wdw]

I used Gail Vazoxlade's own up to your debt spreadsheet to figure out how to pay each card off.

http://www.gailvazoxlade.com/resources/own_up_to_debt_worksheet.html

What a great link! Thank you!

 

[dreamin_disney]

I dont work in the summer so I will save almost $500 in gas. Dh still works and dd and I stay home so we just stay close to home to save $$ plus we dont like the heat-lol! My bills will be paid off by mid June or the end of June. Luckily I had money taken out of my paychecks for the summer months .

I'm going to focus on decluttering the home and making $$ on craigs list. Not sure if the CL $$ will go to xmas fund or the saving plan that was posted on this form resulting in about $1300 at the end of the year.

In August my Flex account starts so that $$ will go toward emergency account.

 

[reginaastralis]

I hope you don't mind if I join, but I currently don't have any debt. Well, in repayment. DF and I are both in school full time, so we're racking up some significant debt. I'm currently making a plan on what I'd like to save, and maybe make payments toward our loans that are gathering interest. Also, we're planning a wedding and planning on having a baby soon, so I'd like to make a savings plan for both of these. I figure if I start saving now, I won't have to "dump the debt" later.

Thanks for the inspiration! I'm currently on page 16 and it's making wish I had started 5 months ago.

 

[blessedby3]

I hope you don't mind if I join, but I currently don't have any debt. Well, in repayment. DF and I are both in school full time, so we're racking up some significant debt. I'm currently making a plan on what I'd like to save, and maybe make payments toward our loans that are gathering interest. Also, we're planning a wedding and planning on having a baby soon, so I'd like to make a savings plan for both of these. I figure if I start saving now, I won't have to "dump the debt" later.

Thanks for the inspiration! I'm currently on page 16 and it's making wish I had started 5 months ago.

Its good if you can be paying on the school loans now. My dd23 graduated from a 4 yr private University last May and her school loan payments are $310 a month for 10 years! They are just so thankful that her DH doesnt have any loans....Grandparents paid for his schooling If he had a school loan, that would be like having 2 car payments for 10 years Its bad enough having the one.

 

[gracie1]

I hope you don't mind if I join, but I currently don't have any debt. Well, in repayment. DF and I are both in school full time, so we're racking up some significant debt. I'm currently making a plan on what I'd like to save, and maybe make payments toward our loans that are gathering interest. Also, we're planning a wedding and planning on having a baby soon, so I'd like to make a savings plan for both of these. I figure if I start saving now, I won't have to "dump the debt" later.

Thanks for the inspiration! I'm currently on page 16 and it's making wish I had started 5 months ago.

Sounds like you are very smart and being proactive with trying to pay your loans and prepare for the wedding and baby!! Welcome to the thread!!

 

[SnowWhite09]

Bumping this up

 

[kim532]

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

 

[gracie1]

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!!

 

[AuroraRora]

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!

 

[gracie1]

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!

 

[PrincessKymm]

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!!!!

 

[MissManda]

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.