Debt Dumpers - 2013

[danielle79]

Yes to me being on the debt dumper 2014 board!!!! I wish I was done paying off debt but that will be another year to year and a half. Then my oldest will start college So count me in for next year! My new job ( i have been there 5 months) is going really well. Finally being able to cash flow Christmas and vacations and not put them on a CC. That is my plan right now, pile cash up to get through Christmas and Disney in February, then nose to the grindstone after February 10 and get gazelle intense on some debt snowballing!
Side note: This upcoming vacation is the first in 10 years that I am taking and actually getting paid, I haven't had any paid vacation or sick time in 10 years!

 

[AlohaNow]

gracie1 – You crack me up! I will try to get to your house on Christmas morning for Bon Jovi! Somehow I can tell that many of us are women of a certain age....

LilSweetPeaPhoto – Are we like, the same person? I can totally relate to your post. I almost could have written it! With the exception of the cars. We each drive 8 year old cars with no payments on them. When I think of that, it makes me happy as one smart financial move we have made. Not at all judging those who want/have newer cars! We each decide what is important to us; that is part of everyone’s personal financial plan.

Anyway, I hear ya on the new CC for balance transfer. That does make a lot of sense in your situation. I have one card that I never actually charge on, I just keep it in reserve because it has fantastic balance transfer offers and we have needed that from time to time in the past.

Speaking of credit cards, I’m wondering if anyone else has experienced this. I have a Capital One rewards card on which the ‘interest free for the first year’ expired in the summer. I was not expecting such huge minimum payments now, however I see that they make you pay the monthly interest in full plus what would be their ‘minimum’ payment. This was confirmed in a conversation with a rep when DH called to get the interest rate lowered. (Success! A lower rate for the next seven months. They know they do not want to lose us as customers! LOL) Now, I really like that I am not paying interest on my interest, but this is new to me. Is anyone else’s minimum calculated this way?

Just applied a purchase eraser this week to get a credit back on that statement! Every. Little. Bit. Counts. My new mantra….I’m seriously putting it up on my wall!

Really got serious about relisting my stuff on eBay last weekend and have already made two sales. I have a plan in place to list more this weekend, as this is when people are buying like crazy. Thanks to the poster who mentioned selling CDs to Second Spin. I pulled out some stuff last night and plan to add more over the weekend to hopefully mail off next week. I just love the Budget Board in general for tips like these! Thanks everybody!

 

[danielle79]

Bumping us up to page 1 !
ceemys, how is the house closing, inspection, move in, whatever coming along/ Super excited to hear how everything went!

 

[Eureka]

I'll definitely be around this thread in 2014. Things are going in the right direction but we are still working on the Discover card. We're not putting as much toward it as I would ideally like to, but we have been holiday shopping (one more gift for each kid for Chanuka that I plan to buy this weekend and then we can turn our attention to Christmas) so once the season is over, we won't be spending as much in that way. (As for me, JBJ can visit me under the tree too, lol)

However, we've made our first deposit into the kids' 529 college savings plans and our short term savings account is going to hit a "magic number" (one I have been working toward) tomorrow when DH gets paid - he has direct deposit set up to put a little bit in each week. We have only hit this number one other time in the past few years and then have repeatedly needed to pull from it. Since I started my new job, we have not needed to take from savings at all, so that makes me feel good.

I look forward to reading about everyone else's successes -- and setbacks, we all have them. Especially want to hear about ceemy's new home!

 

[ruadisneyfan2]

Hello!

I have powered through this entire thread from Day One over the past few days and am so ready to join! Last week I read DR’s TMM and we have decided to begin a zero-based budget, which is a new way of thinking about things for me. Any ‘leftover’ money we had I would just hoard, because I always felt it would be needed for something unexpected next week. And it usually was! I have used Quicken for years and have a separate ‘budget’ spreadsheet, but I realize now that I just plugged in numbers after the fact and did not actually and actively ‘budget’. Duh! So we will go on a slightly tweaked TMM, looking more at interest rate than total amount owed for each debt. (After years of reading Money magazine, I just cannot agree on the interest rate not playing a role. Sorry Dave R!)

It is a difficult time to start this, with the holidays coming. But I have my spreadsheet all set up and will use November and December to perfect my categories and get some true numbers, and will truly begin the plan in January. My full-time job utilizes a compressed work week, working Mon-Thurs, so part of the plan is to find a ‘Friday job’ to boost income. My two boys will not be happy with this new arrangement (they like sleeping in a bit later and the baked goods that await them at end of day), but I see no way to get out of the hole we are in without boosting income. My husband’s checks vary with hours worked and commissions earned, so I get a surprise every two weeks. Sometimes a good surprise, sometimes a bad surprise!

I love the support I see on this thread. People typically do not mention what they do for a living or how much they make, but only their steps toward becoming debt-free. You wonderful people have already taught me that Every. Little. Bit. Counts. And that many of you are obsessed with Jon Bon Jovi.

I would like to list out our transgressions, but at this point will just say that our $25k+ in total cc debt is depressing enough. It is killing me and I see it as an insurmountable obstacle. This will be a years-long struggle and we already feel that we have cut things back so much already. But it is time to really grow up and make some adult decisions about things. I like to get on an airplane at least once a year and simply must accept the fact that this will no longer happen. You bet your sweet bippy that a paid-in-full-in-advance vacation will be the reward for all this!

Sorry ‘bout the long post, just wanted to introduce and again say thanks for all the great advice here!

You can do it! You didn't get in this pickle overnight and won't make it go away overnight either. You know that saying, "A Journey of 1000 miles begins with 1 step."
We got our snowball rolling back when interest rates dropped so we refinanced at 3%, giving us a monthly savings of $260. Then paid off ds13's sax. Then it just keeps going from there. I don't agree with all of DR's ideas such as stop funding your retirement acct but find a mix that works for you.

I keep a word document with a running list of each chunk of our snowball for each paycheck and what each chunk will be applied to from now until the end of Dec 2014 when it will all be gone except dh's truck. I wish I knew how to do spreadsheets; I'm in the medical field and have no clue of these things.
It took a lot of work in the beginning but now I just cut and paste if I need to re-assign where each chunk goes. Dh & I are each paid biweekly but opposite each other so each week of the month is color coded so I don't mix up next weeks pay into this weeks bills. (First pay of the month is always purple, 2nd orange, etc.)
We really only buy what we need and this isn't new but now instead of funneling all "spare" funds toward vacations, I redirect it pay down bills. I really rethink how bad I need something and can it wait a week? 2 weeks? a month?

What I agree most about DR is how paying off those smaller bills gets you excited to keep going for more and how attacking one at a time really feels like progress vs. giving each bill a little extra and feel like you're getting nowhere fast.

I really love to travel & it keeps me sane but I know it's not forever. We probably will take a summer vacay but just keeping in mind the more we spend, the longer it will take to pay it all off to 0. I can't just cut everything out of my life cold turkey or like a crash diet.

hth!

 

[ruadisneyfan2]

I'm also happy to say I was a very good girl and paid back almost all of what I borrowed from our emergency fund for my mom's birthday party.
I just have $70 left and that will be done soon.

I was so worried if I tapped into that, I would never get around to paying it back but that's my safety net & I like having it.

Just keep swimming...

 

[bababear_50]

Sinking here
Swim Mel swim..............................................
I decided we needed to bump this thread up as it was down to page 5.

I have finished my Christmas shopping --no really I am and I am NOT going to get into that mind set of "It's Christmas and what's a few more presents" because if I do I'll be paying off that bill for months in the new year.
I still have wrapping to do and baking ingredients to buy but I'm holding off till next pay instead of putting it on credit.
I really think I should freeze that credit card in a glass of juice.
It is so hard when I see such good deals on many things at this time of year.
It must be the bargain hunter in me....ok time to swim or sink here.
I am going to practice saying this:
"The credit card is for emergencies and must be paid off at the end of the month"."It's the thought and not the amount of Christmas gifts you give.

Hugs to all of you during this very beautiful but "spending" season.

Mel

 

[crazycatstacy]

Sinking here
Swim Mel swim..............................................
I decided we needed to bump this thread up as it was down to page 5.

I have finished my Christmas shopping --no really I am and I am NOT going to get into that mind set of "It's Christmas and what's a few more presents" because if I do I'll be paying off that bill for months in the new year.
I still have wrapping to do and baking ingredients to buy but I'm holding off till next pay instead of putting it on credit.
I really think I should freeze that credit card in a glass of juice.
It is so hard when I see such good deals on many things at this time of year.
It must be the bargain hunter in me....ok time to swim or sink here.
I am going to practice saying this:
"The credit card is for emergencies and must be paid off at the end of the month"."It's the thought and not the amount of Christmas gifts you give.

Hugs to all of you during this very beautiful but "spending" season.

Mel

I had to freeze my credit cards. In the case of a true emergency it will be easy to unfreeze it but I think for the "I want something" issues it will be more of a PIA so I won't unfreeze it.

I am almost done with my shopping- just waiting for Black Friday to finish up. My biggest problem is staying on track for my daughter. She moved to her own apartment this year and I know she is a broke young adult (like most that move out on their own) so I have a tendency to want to go overboard to help her out. Trying to remind myself that she has to "suffer" some to learn how to manage her money and to really experience living on her own.

 

[crazycatstacy]

How did everyone do staying on budget over black friday?

 

[ruadisneyfan2]

How did everyone do staying on budget over black friday?

I worked on BF so not much spending that day. I'm almost done Christmas shopping and we're doing well keeping it under control. Dh LOVES Christmas and would keep buying but we agreed to keep it small this year. We had a big summer vacation & finally got a new roof but still making progress on paying off some bills.
By next Wed, our Sears bill will be $0. yay!
This is our 6th "chunk" of our snowball.


I'm amazed at how much progress we make when we make a conscious effort to get rid of it all. I'm also amazed at how long it took me to wake up and stop accepting that debt is a normal part of life.
Oh well, it's water under the bridge. We can't change the past, only the future.
Just keep swimming.

 

[gracie1]

This was the first year I haven't gone Black Friday shopping in about 5 years. I decided it would be nice to have thanksgiving here, and forgot how much work but was!! I was too tired to go out shopping! I do need some clothes but knew I would also spend money on stuff that I didn't need, so I was better off staying home.
You guys are all doing great on getting rid of debt!

 

[dreamin_disney]

How did everyone do staying on budget over black friday?

I stayed on budget by staying home and not shopping-lol! We have a list but dont plan on shopping until after the 7th. Its going to be a simple christmas and we plan on buying things on sale and hopefully great deals.

We already got something for our goddaughter and thats about it

 

[ruadisneyfan2]

Sinking here
Swim Mel swim..............................................
I decided we needed to bump this thread up as it was down to page 5.

I have finished my Christmas shopping --no really I am and I am NOT going to get into that mind set of "It's Christmas and what's a few more presents" because if I do I'll be paying off that bill for months in the new year.
I still have wrapping to do and baking ingredients to buy but I'm holding off till next pay instead of putting it on credit.
I really think I should freeze that credit card in a glass of juice.
It is so hard when I see such good deals on many things at this time of year.
It must be the bargain hunter in me....ok time to swim or sink here.
I am going to practice saying this:
"The credit card is for emergencies and must be paid off at the end of the month"."It's the thought and not the amount of Christmas gifts you give.

Hugs to all of you during this very beautiful but "spending" season.

Mel

You will still have a beautiful Christmas even if you don't bake. I haven't baked in years. I did a little bit at one time, when my kids were very young; just some simple sugar cookies with red & green sprinkles. Some years I even got the Pillsbury slice n bake kind.

Sometimes I wonder why we're so hard on ourselves & feel like we have to do EVERYTHING or it won't be a nice holiday. I stress out if I don't send out beautiful photo cards every year. Yet my MIL quit sending cards out long before dh & I were married. She said it's too expensive and people just throw it out anyway. At first I thought she was being a Hum-bug but I can definitely see her point. Even without mailing Christmas cards, she still has a lovely Christmas.

Watch the original Grinch again. It's not about the roast beast or the who-pudding. (or the toys) We can still sing without all of that.

 

[Eureka]

I did some BF shopping, mostly for me, but did pick up one Christmas gift, and today ordered another with the Kohls cash I accumulated. So I am not going to beat myself up too much about it.

 

[momof2gr8kids]

You will still have a beautiful Christmas even if you don't bake. I haven't baked in years. I did a little bit at one time, when my kids were very young; just some simple sugar cookies with red & green sprinkles. Some years I even got the Pillsbury slice n bake kind.

Sometimes I wonder why we're so hard on ourselves & feel like we have to do EVERYTHING or it won't be a nice holiday. I stress out if I don't send out beautiful photo cards every year. Yet my MIL quit sending cards out long before dh & I were married. She said it's too expensive and people just throw it out anyway. At first I thought she was being a Hum-bug but I can definitely see her point. Even without mailing Christmas cards, she still has a lovely Christmas.

Watch the original Grinch again. It's not about the roast beast or the who-pudding. (or the toys) We can still sing without all of that.

I bake about 4 things that my family loves at Christmas time, and that's it. I find not too many people want baking around all the time. As long as we have enough to gorge for a couple of days, we're good! LOL

Due to everyone's schedules this year we may not end up having our Christmas Eve dinner. At first I was upset then thought, I will save a ton of money not cooking for everyone (who are all running in different directions anyways) and can focus on some of the things that the kids enjoy - like church then skating or tobogganning later, driving to see the lights and having some appetizers later. I think the kids will enjoy that more than a stressed out mom in the kitchen all day!

 

[momof2gr8kids]

How did everyone do staying on budget over black friday?

I got some great online deals on things that I was already planning on getting people for Christmas, so I was happy. I just added up what I spent on my cc last night and paid it from my Christmas fund.

I had to dip into our Christmas fund for a couple of things for dds school and winter tires, but dh will be getting a bit extra next couple of cheques so that will make up for it. Still keeping up with my bi-weekly amt I've budgeted toward debt, so that's good.

 

[BernardandMissBianca]

Jumping back on board to start prepping for the new year. Had some major expenditures in the last month. New Snow blower, new fridge and new dishwasher. Why are all the major things dying at once?!? Guess I can't complain to much, the fridge and dishwasher were 10 and 14 years old. It just hurts the wallet when they all die at once.
Oh and got an oil fill to the tune of $850 but we should be set until January so that's good.
But on the up side I had the cash for all of that so I didn't have to use credit.
I need to tally my end of the year payments though, just to see where we are at.
Once credit card is haunting me though. I owe $400 and I really want to pay it off but I need to pay for driver training for DS17 and it's almost the same cost.

 

[Eureka]

Are we going to start a new 2014 thread or just continue on this one?

 

[OhMari]

Are we going to start a new 2014 thread or just continue on this one?

We would have about 125 pages left on this thread.
maybe we need to start a new thread.

 

[BernardandMissBianca]

I would say start a new one. Start fresh for the new year.