Debt Dumpers - 2013

[Grumpy's Gal]

do you guys make a chart to keep track of how much you are paying off? or what kind of tracking system do you use?

 

[ceemys]

I would love to join! DH and I graduate college april 2014 its been 5 years in the making. I'm 30, graduating with my RN and a mother of 3 wonderful children. DH is 31, graduating with his doctorate of physical therapy and we are desperate to get on the right track once we graduate. With school loans, past bad debt etc. ..I want to improve our credit so we can buy a house in a couple years. Plus id like to set up retirement plans, kids college fund, savings for emergency fund, downpayment on home and possibly a vacation account. These are only ideas I have and obviously will be reevaluated once we graduate and start working.

Welcome! Sounds like your ideas are great. Maybe you can get a budget plan and get it down on paper. Long term goals help the short term goals!

do you guys make a chart to keep track of how much you are paying off? or what kind of tracking system do you use?

I use Quicken for my checking account and to help me figure where my money goes. Only because it was already on my computer and free. But it works for me and I like it. Most folks here use YNAB (You need a budget). It goes on sale every now and then. I have never used it but is sounds like those who do use it, love it.

 

[Disneymom83]

Welcome! Sounds like your ideas are great. Maybe you can get a budget plan and get it down on paper. Long term goals help the short term goals!

Thank you! Thats a good idea! I think I'll try to sit down and write something out.

 

[Eureka]

Ugh. DH has to start taking vacation time tomorrow because of the shutdown. Then when that is gone, leave without pay. And he won't be getting the vacation time back, like the fed workers will get paid when this is all over. Please let this be over soon. I haven't even gotten my first paycheck from my new job yet. I plan on making a credit card payment tomorrow, but it won't be as much as I'd like in case we need it for other bills soon. Sigh.

 

[ceemys]

Ugh. DH has to start taking vacation time tomorrow because of the shutdown. Then when that is gone, leave without pay. And he won't be getting the vacation time back, like the fed workers will get paid when this is all over. Please let this be over soon. I haven't even gotten my first paycheck from my new job yet. I plan on making a credit card payment tomorrow, but it won't be as much as I'd like in case we need it for other bills soon. Sigh.

I'm sorry. You are the first person I heard that was effected that wasn't an actual government worker. With this I would say that as long as you stay on track, I really wouldn't worry about making extra payments. I hope your husband gets back to working soon.

 

[Eureka]

Me too. Just think where I'd be if I didn't invest so much in those short skirted outfits I just had to have for a night on the town!

I think many of us did that when we were young. I remembering having to buy a new "kicky" sweater before my first date with the man who I ended up marrying. But I am pretty sure he didn't marry me because of that sweater, lol.

ps. I am not even sure now what we wanted to convey with the word "kicky." I just remember my friend and I calling it that!

 

[Eureka]

I'm sorry. You are the first person I heard that was effected that wasn't an actual government worker. With this I would say that as long as you stay on track, I really wouldn't worry about making extra payments. I hope your husband gets back to working soon.

I think there are other companies who are starting this week too. There are tons of gov't contractors in the DC area and many of their agencies ran out of money by the end of last week. The payment I made wasn't an extra one, it was the regularly scheduled payment, and I still managed to pay more then the minimum. We are just dealing with a lot of start-up costs for my job right now, but that will resolve itself once I start getting paid. Luckily, he has vacation time to take so he'll get paid -- until it runs out, which it could, if they don't agree on a budget soon. It just sucks to have to burn it all not by choice.

 

[barbarabini]

Hello All!

Joining after an expensive year of a new child, house and car.
Trying to dump the credit cards, pay off a vehicle and finish the school loans. Since we finally purchased the house and finished having the kids, we are more certain of where we stand. Might need to be on the two year plan, though.

Now, just the added push of a great group like you all.

More than a year ago, you guys helped push me to pay off credit cards and a vehicle in a VERY sort amount of time.

Looking forward to your tips and debt dumping stories!

 

[SpaceGirl]

More than a year ago, you guys helped push me to pay off credit cards and a vehicle in a VERY sort amount of time.

Looking forward to your tips and debt dumping stories!

Barbarabini

Welcome to the thread, sounds like you should be able to make great progress getting rid of that credit card debt...you have done it before...yet...you need to make some new goals to keep your debt from coming back once you have paid it off.

Many times we find ourselves in the same place financially over and over again which reminds me of Albert Einstein's quote.

"Insanity: doing the same thing over and over again and expecting different results."

I feel the best way to start is write everything down and make a budget so you will know where your money is going each month. Then see where you can cut back with your spending, if you have debt your spending more then you have each month.

You need to have an Emergency Fund for anything that happens so you wont be tempted to add new debt, you should try not to add any new debt while you are paying down your balances. So if you need something not on your budget you'll need to have the money before you purchase it.

What many of us do/did was start with one bill and pay as much extra as we can toward the bill until it is Paid-In-Full. Important to make sure all your other bills are paid on time, just everything extra goes to the first balance. Once it's paid you take the amount you were paying on the first debt plus the payment you were paying on the second debt and combine the amounts paid toward the second bill...This is called snowballing you just keep going until you pay off the last account and your debt is gone.

Sounds easy but we all know Life does have a way of changing great intentions, so we post here when things are going great, also when things aren't going so well and we have setbacks or just to check in and give encouragement.

Hope some of this information helps.

 

[SpaceGirl]

Thank you for this. It made me want to cry but in a good way.

PrincessKymm

Your more then Welcome, just keep up the GREAT work.

 

[SpaceGirl]

Beckie always knows the right things to say.

Thank You...

 

[SpaceGirl]

Ugh. DH has to start taking vacation time tomorrow because of the shutdown. Then when that is gone, leave without pay. And he won't be getting the vacation time back, like the fed workers will get paid when this is all over. Please let this be over soon. I haven't even gotten my first paycheck from my new job yet. I plan on making a credit card payment tomorrow, but it won't be as much as I'd like in case we need it for other bills soon. Sigh.

Erica

I am so sorry to hear about your DH's job...I have always heard that when one door closes another one opens, yet in your case your door opened and your DH's got slammed (temporarily) Hopefully the government will resolve this stupidly soon.

 

[Eureka]

Erica

I am so sorry to hear about your DH's job...I have always heard that when one door closes another one opens, yet in your case your door opened and your DH's got slammed (temporarily) Hopefully the government will resolve this stupidly soon.

You are right of course. It's just so frustrating to me that they are tying the budget to the healthcare act. Because the two sides are never going to see eye to eye. One of my friends is in the process of divorcing and is a fed worker. She is treading water as it is and there are so many like her.

 

[pryncess527]

I've been busy this month so haven't been around much-- time to play catch up with everyone!!

DH and I finally had a real sit down talk over the weekend about our debt as well. I was the only one working on it and that doesn't work. I would try to save and he would spend. So now he is going to sit down with me at beginning on the month to set our monthly budget and then each week we will review our progress. I am really glad we sat down and made a plan together and I just have to make sure he sticks to it and we actually sit down once a week to review. It is hard with 3 kids, work, and after school activities but we need to make this a priority in our life.

That's great! Being able to sit down together, at least monthly to set goals together, is so important IMO.

Only three months left in the year and I am pretty positive we are going to have the cc paid off. Yay!
I see the light at the end of the tunnel and so does dh and he is more determined now to get out of debt than he was at the first of the year.

Anyway we will keep plugging away. I am glad I was able to come here to read everyone's progress and help me stay motivated. Good luck to y'all.

That's wonderful! It feels so good to see that light at the end of the tunnel, doesn't it?

Next week dh's Kohls charge will be paid off.

I've been putting the sax and refi savings each month into savings to build up more emergency fund. By the New Year I think we'll be good enough to start attacking our overdraft protection acct and knock that out.
It's very uplifting.

That's great news! Congrats on your progress

I just wrote the check and sealed the envelope to pay off DS's last medical bill!!! I've just got to pay off his medication from last month and I'm done!!!!

Congratulations! And ditto Spacegirl & the others about the bankruptcy -- sometimes it is just what has to be done, and it sounds like you are exactly the kind of person it was meant for. You deserve a fresh start

OH MY GOODNESS Y'ALL!! I have my closing date set! 11-19. That gives me one day to paint and move and clean out of my apartment. YIKES! I still need to get approved again and lock in a rate sometime this month, so that is weighing on my mind...BUT I HAVE A DATE!

That's awesome news! Congratulations

First time poster alert!

I am graduating college next spring and DF and I have a ton of debt. (About 30k between student and car loans) and I am committed to knocking out that debt ASAP. I'm also following the snowballing technique and I'm just really excited to start seeing results. My goal is May 2015 to be debt free!

Congratulations on getting started early!

I would love to join! DH and I graduate college april 2014 its been 5 years in the making. I'm 30, graduating with my RN and a mother of 3 wonderful children. DH is 31, graduating with his doctorate of physical therapy and we are desperate to get on the right track once we graduate. With school loans, past bad debt etc. ..I want to improve our credit so we can buy a house in a couple years. Plus id like to set up retirement plans, kids college fund, savings for emergency fund, downpayment on home and possibly a vacation account. These are only ideas I have and obviously will be reevaluated once we graduate and start working.

Congrats on the upcoming degree and good luck with your plans to tackle debt!

 

[pryncess527]

do you guys make a chart to keep track of how much you are paying off? or what kind of tracking system do you use?

DH and I use a zero-based budgeting computer program and phone app called YNAB -- You Need a Budget. We started it a few months ago and it helps us making spending decisions and track our debt progress. It's difficult for me to overstate the impact it has had on our lives and on helping us communicate clearly about our budget with each other.

Ugh. DH has to start taking vacation time tomorrow because of the shutdown. Then when that is gone, leave without pay. And he won't be getting the vacation time back, like the fed workers will get paid when this is all over. Please let this be over soon. I haven't even gotten my first paycheck from my new job yet. I plan on making a credit card payment tomorrow, but it won't be as much as I'd like in case we need it for other bills soon. Sigh.

I'm sorry I hope the shutdown ends quickly, I wish I were more optimistic about the political situation.

Hello All!

Joining after an expensive year of a new child, house and car.
Trying to dump the credit cards, pay off a vehicle and finish the school loans. Since we finally purchased the house and finished having the kids, we are more certain of where we stand. Might need to be on the two year plan, though.

Now, just the added push of a great group like you all.

More than a year ago, you guys helped push me to pay off credit cards and a vehicle in a VERY sort amount of time.

Looking forward to your tips and debt dumping stories!

Welcome (back) to the thread!!

 

[bababear_50]

I'm off work sick today and playing catch up.

Special Hugs to everyone dealing with job lay offs and cutbacks.

I had a battle with myself last week,I got an extra pay
cheque and was trying to schedule an extra Disney trip for this Christmas.
I talked myself in and out of going 100 times-I even thought about sleeping in a tent at Disney(resort girl here),,,my sons thought this was extremely funny,mom just doesn't do camping in a tent.
Everything I priced out was coming in around 1400.00.-5 days.
And I already have a March Break trip booked and paid sooooooooo....


I paid down some extra money on upcoming bills!

This will make the Christmas break much easier financially and less stressful.

This being a financially responsible person is tough.
Hugs Mel

 

[pryncess527]

I'm off work sick today and playing catch up.

Special Hugs to everyone dealing with job lay offs and cutbacks.

I had a battle with myself last week,I got an extra pay
cheque and was trying to schedule an extra Disney trip for this Christmas.
I talked myself in and out of going 100 times-I even thought about sleeping in a tent at Disney(resort girl here),,,my sons thought this was extremely funny,mom just doesn't do camping in a tent.
Everything I priced out was coming in around 1400.00.-5 days.
And I already have a March Break trip booked and paid sooooooooo....


I paid down some extra money on upcoming bills!

This will make the Christmas break much easier financially and less stressful.

This being a financially responsible person is tough.
Hugs Mel

Congrats! Being financial responsible is tough, and it sucks sometimes -- but I'm told the payoff will be worth it, lol

 

[peel]

My husband didn't get a job he was going for (he was second in line if the first person turned it down). Boo! He works full time already, but this would have been a job with potential to move up in the company which is not an option where he currently works. I'm in the middle of the interview process for a position at the companywhere I'm currently working as a part time contractor. I absolutely don't want the job for any other reason than money. It's not the greatest situation to be in...I'd rather be doing something that interests me, and having just got my Masters degree in Library Science it's a bit of a blow not being able to find work in that field. But I suppose I should be happy something stable and well-paying is pretty much falling into my lap right now. It's not a sure thing, but since I already work in the department I think I'm a front runner over people who would have to start from square one. Fingers crossed!

 

[BCmomma]

My husband and I downloaded our free trial of YNAB last night; I've been doing most of the banking for several years now so I guess it should have come as no surprise how 'in the dark' dh really was about day to day finances. Honestly though, some of his questions/reactions did surprise me. We REALLY needed to do something like this LOL so here's hoping we are finally on the road to getting our debt paid off!

 

[Grumpy's Gal]

: Sometimes I wish I could turn back the clock and bring my knowledge of today with me.

Just sometimes? For me, it's ALL the time. If only..........