Debt Dumpers - 2014

[zy144622]

I have to agree. A couple years ago when 3D TVs were just coming out dh "had to have one" when our old one died. For a 55" LG it was around $1500 on Amazon with 2 or 3 yrs no interest. Now that we see that 3D is a big dumb gimmick (like picture in a picture, sigh) we have seen very nice 55" TVs for under $1000; not that we're shopping for one. Still a very nice TV & $800 less than $75/month x 24 months. Just saying.

I know you can do better!!! We got a 51in at target last year advertised for $299 and rang up for $275!

We went about 6-9 month using an extra tv from another room to get us by while we shopped adds.

 

[ruadisneyfan2]

I know you can do better!!! We got a 51in at target last year advertised for $299 and rang up for $275!

We went about 6-9 month using an extra tv from another room to get us by while we shopped adds.

Oh we are not in the market. We've just been noticing how much the same tv dropped ( or similar ones without 3D)

 

[aliceindisneyland]

I had a small [under $900; large to me!] medical bill that we've been paying $86 a month on. I called the hospital and asked for a discount - not based on income, just took a shot. The financial counselor gave me 20% off! Saved $177, paid the balance in full, and freed up $86/mo in our budget!

 

[gracie1]

Paid off my car and my Old Navy card this weekend. Holy cow!

Way to go That is fantastic

 

[gracie1]

I had a small [under $900; large to me!] medical bill that we've been paying $86 a month on. I called the hospital and asked for a discount - not based on income, just took a shot. The financial counselor gave me 20% off! Saved $177, paid the balance in full, and freed up $86/mo in our budget!

That is great!! It feels great to have medical bills paid off!!

 

[SpaceGirl]

I had a small [under $900; large to me!] medical bill that we've been paying $86 a month on. I called the hospital and asked for a discount - not based on income, just took a shot. The financial counselor gave me 20% off! Saved $177, paid the balance in full, and freed up $86/mo in our budget!

Now that's the way to dump your DEBT.

GREAT JOB

 

[SpaceGirl]

Must share today's shopping victory with you all. I murdered the clearance rack at Kohl's today with gift cards I was given for Christmas. $230 retail price, my price $50 and I still have $50 in gift cards for that mall left. So proud, not only did I not spend more than the "free" money I had I still have half of it for another time.

Woohoo! I just managed to snag some dog shampoo for 2/3% off, and new toys for 75% off. And got $43 in DVD's for $12 using my Best Buy rewards.

I always enjoy reading GOOD shopping stories...Two more GREAT JOBS

 

[southlakejr]

So, budgeting for this month has been pretty awesome! We have gone over with groceries (had a couple parties this month, should have budgeted more) BUT- we managed to pay all of our bills off of three checks this month! That means that, other than the money we divert for the mortgage payment, and a little bit extra for our grocery over indulgence, DH's next check can go completely towards debt and savings!

We did have some extra income this month, but we used almost all of it towards paying off debt. I'm hoping that this can be a new norm for us with knocking out debt and boosting our savings through better budgeting.

 

[dtr_angel]

Congratulations to everyone dumping debt! I wrote the check out for my first ever extra car payment. I'm upset because it's a holiday so it won't go out until tomorrow. I'm hoping to be writing another check for a whole extra payment on our next payday!

 

[AlohaNow]

Hi! I posted a while back in the 2013 thread. Just wanted to say I love all the encouraging things I’m reading on this 2014 thread! Keep up the great work everyone! I said I was going to put “Every Little Bit Counts” up on my wall…..and I did! But I can’t seem to post a pic…..perhaps I’ll figure that out soon!

Planning in terms of a zero-based budget for every two-week pay period has revolutionized things for us. ‘Extra’ goes towards the $25k+ credit card debt whenever possible. I re-started a regular transfer from checking to Capital One360 (still ING to me) to mindlessly build savings. Had it at $25 each pay period and just upped it to $35. Can’t wait till I can majorly boost that number!

Anyway, starting this year off strong, but we all know that can change at any moment. Completely cash flowed the holidays, so added no new debt there. This is a three paycheck month for both of us, and that third check does not have the regular deductions, so we’ll get a boost there. DH’s checks have been good with commissions lately so was able to pay off DS’s ER bill that we were forced to charge the balance of because they would not let us pay monthly (only 4 months after the ER visit). Though I am headed to the dentist on Friday and I know the news won’t be good. Steeling myself for that, after saying that we are starting off strong! Just activated the FSA debit card in preparation for paying for the work that will need to be done. So there’s $1,000 towards that future bill.

Gracie1 – You previously mentioned that your mortgage holder allowed you to close your escrow account. Did you have more than 20% equity in the home? I tried this with Wells Fargo, but they said no. I will try again once we have had the mortgage for one year. I completely understand them not wanting to close it out in our first year with them, but the escrow is suffocating us on a monthly basis. I need that cash freed up to go to credit cards. We get RMDs (Required Minimum Distributions) early in the calendar year that will more than cover taxes and insurance. I just can’t stand escrowing; it’s like being treated like a child. “You are old enough to hold title to real estate, but we just can’t trust you to be responsible enough to pay your own taxes and insurance.” Seriously? You gave me the mortgage, but won’t trust me to make the ‘little payments’. It makes me crazy. Sorry for the rant. Anyone else have experience with dumping the escrow and what it took to dump it?

And Gracie1 – did Jon Bon Jovi show up at your house on Christmas? Spotted him last night on the Broncos game broadcast……still lookin’ good!

 

[gracie1]

Hi! I posted a while back in the 2013 thread. Just wanted to say I love all the encouraging things I’m reading on this 2014 thread! Keep up the great work everyone! I said I was going to put “Every Little Bit Counts” up on my wall…..and I did! But I can’t seem to post a pic…..perhaps I’ll figure that out soon!

Planning in terms of a zero-based budget for every two-week pay period has revolutionized things for us. ‘Extra’ goes towards the $25k+ credit card debt whenever possible. I re-started a regular transfer from checking to Capital One360 (still ING to me) to mindlessly build savings. Had it at $25 each pay period and just upped it to $35. Can’t wait till I can majorly boost that number!

Anyway, starting this year off strong, but we all know that can change at any moment. Completely cash flowed the holidays, so added no new debt there. This is a three paycheck month for both of us, and that third check does not have the regular deductions, so we’ll get a boost there. DH’s checks have been good with commissions lately so was able to pay off DS’s ER bill that we were forced to charge the balance of because they would not let us pay monthly (only 4 months after the ER visit). Though I am headed to the dentist on Friday and I know the news won’t be good. Steeling myself for that, after saying that we are starting off strong! Just activated the FSA debit card in preparation for paying for the work that will need to be done. So there’s $1,000 towards that future bill.

Gracie1 – You previously mentioned that your mortgage holder allowed you to close your escrow account. Did you have more than 20% equity in the home? I tried this with Wells Fargo, but they said no. I will try again once we have had the mortgage for one year. I completely understand them not wanting to close it out in our first year with them, but the escrow is suffocating us on a monthly basis. I need that cash freed up to go to credit cards. We get RMDs (Required Minimum Distributions) early in the calendar year that will more than cover taxes and insurance. I just can’t stand escrowing; it’s like being treated like a child. “You are old enough to hold title to real estate, but we just can’t trust you to be responsible enough to pay your own taxes and insurance.” Seriously? You gave me the mortgage, but won’t trust me to make the ‘little payments’. It makes me crazy. Sorry for the rant. Anyone else have experience with dumping the escrow and what it took to dump it?

And Gracie1 – did Jon Bon Jovi show up at your house on Christmas? Spotted him last night on the Broncos game broadcast……still lookin’ good!

You are doing a great job As for the escrow - I just called and told them I wanted to close my escrow account and all they said was that I lucked out, I was just outside what they considered a flood zone in my area (I live near water). And they had me send in a letter and that was that. I also have no pmi on my mortgage either. The land had been paid off so the land was used as collateral for my house (my parents live in my house too), so yes, we did have 20% equity. I closed my escrow after the first year on the mortgage.

As for Bon Jovi - no, he didn't show up I mean, if it was inconvenient for him, I would've been happy to meet him somewhere or go to his house
I did get an email if I sign up for his fan group I could book a 2 night stay in vegas, see him perform acoustically, for only $1900. Not going to happen - I want a guarantee he is staying in my room that night

 

[gracie1]

Congratulations to everyone dumping debt! I wrote the check out for my first ever extra car payment. I'm upset because it's a holiday so it won't go out until tomorrow. I'm hoping to be writing another check for a whole extra payment on our next payday!

Way to go! I know that felt great

 

[gracie1]

So, budgeting for this month has been pretty awesome! We have gone over with groceries (had a couple parties this month, should have budgeted more) BUT- we managed to pay all of our bills off of three checks this month! That means that, other than the money we divert for the mortgage payment, and a little bit extra for our grocery over indulgence, DH's next check can go completely towards debt and savings!

We did have some extra income this month, but we used almost all of it towards paying off debt. I'm hoping that this can be a new norm for us with knocking out debt and boosting our savings through better budgeting.

Way to go

 

[SpaceGirl]

Congratulations to everyone dumping debt! I wrote the check out for my first ever extra car payment. I'm upset because it's a holiday so it won't go out until tomorrow.

I know isn't it silly, after finally receiving that ESCROW check Saturday I decided to go ahead and write the one and only check I have to do a year. My Homeowner annual association dues, wrote the check, made copies of my homeowners insurance and the invoice for my home, addressed the business sized envelope...I need a stamp and the Post Office is closed today. So I have to wait until tomorrow.

Great Job on the extra car payment.

 

[SpaceGirl]

Well got hit today w/ our TV dying. We've managed to extend it's like twice by replacing the lamp, but today, it won't even turn on. So we had to venture out finally get a new one. UGH!

I guess the only good is that we had $330 in gift cards to use towards it. And I managed to save $300 by having best buy price match Amazon. We put it onto our Best Buy card, so we do have 24 months now to pay it off....approx $75/mo now going towards that. UGH!

We're getting close to having a 0% Home Depot card paid off, I guess we'll be swapping the payment we've made on that for the TV.

SweetPea (Amy)

I'm so sorry your TV went out, but great that you were able to use your Gift Cards and that they matched the Amazon price.

That puts the price at a 60"-70" television, I know that it was a want/need situation, this is where you really need to stop and reevaluate your spending this one splurge really pushes your debt up. From your post the cost seems to be over $2,000.00 maybe closer to $2,500.00

We are here to encourage you and to help eliminate your debt so...great job at getting the best price you could...and for getting your Home Depot card paid down.

 

[gracie1]

I'm so impressed with how great everyone is doing!! Even with unexpected expenses your all doing a fantastic job! Great start to 2014!!

 

[ruadisneyfan2]

Congratulations to everyone dumping debt! I wrote the check out for my first ever extra car payment. I'm upset because it's a holiday so it won't go out until tomorrow. I'm hoping to be writing another check for a whole extra payment on our next payday!

I know not everyone is comfortable paying online but have you considered it? I get instant credit for the payment if it's before 7 pm or so (with Chase) and it comes out of our account within 2 days so it's not a long wait and being disillusioned that I have a lot in checking when I really don't.

For some reason, Chase credit cards take the $ from our bank the next business day but truck payment & mortgage take 2 days. The good part is that I can schedule the payment online for a day or 2 before payday and by the time it hits our bank the $ is there.
Sigh. So much of our pay goes to Chase. grrrrr....

Just saying for that inner part of us that likes instant gratification. By 10pm EST of the day I schedule a payment, I can see payments applied, and the balance lowered.



Good Job everyone! Just keep swimming!!

 

[Eureka]

I had a small [under $900; large to me!] medical bill that we've been paying $86 a month on. I called the hospital and asked for a discount - not based on income, just took a shot. The financial counselor gave me 20% off! Saved $177, paid the balance in full, and freed up $86/mo in our budget!

That is awesome! Always pays to ask. Last year I got a $700 bill from an endoscopy, which was strange since I had already paid a couple other bills related to it and we'd used a good amount of our deductible. Mentioned it to my doctor just offhand, and he said that shouldn't be. I had already called to make payment arrangements and had paid $200 on it. He said "don't pay anymore, that is way too much." He called the facility where it was at and talked to them. Turns out he had them write it off and I only had to pay $200 of it.

 

[Eureka]

Must share today's shopping victory with you all. I murdered the clearance rack at Kohl's today with gift cards I was given for Christmas. $230 retail price, my price $50 and I still have $50 in gift cards for that mall left. So proud, not only did I not spend more than the "free" money I had I still have half of it for another time.

Kohl's has been my downfall lately. Of course I *needed* some work clothes in the fall (really) and now DS13 is outgrowing everything again. I spent $67 on Friday (mostly jeans and running pants for him) but they also had bed pillows for $4.99 before my 15% off, and DH and I hadn't replaced ours in years, so I picked up some. And got $10 Kohls Cash back. But really for all that I bought, it was a pretty good deal.

 

[LilSweetPeaPhoto]

Don't take this the wrong way, but That's one expensive TV! There were no other options that wouldn't have you go that much more into debt? Just a temporary option while you save or pay down some other stuff?

Sure, there's always other options. But for us to wait to pay down other things, when you're already sitting at $30K in debt, it really came down to what's another $75/mo. The thing is, we pay our minimums (and a bit over at times too I believe). We're not paycheck to paycheck. We just can't save and pay down more right now.

We weren't going to spend $$$$ on a smaller TV, or a TV that didn't have the features we were looking to upgrade to. That would have been wasted money.

We snowballed into debt when we were charging the emergencies that came up. Our deck was literally falling off our house ($3k), we had the pipe from our house busted open by tree roots ($7), then removing the trees and bushes invovled and dead trees thanks to ash borer ($1k), new concrete for the driveway that was busted during the plumbing ($1k). My car broken into, purse and ipad stolen. Damage to our house during a windstorm, etc, etc, etc.

So we've fallen behind over the years. Add in things like braces for DD ($1800), windows replaced, new garage door, front door, carpet. New bed, etc, etc, etc. Most items are financed with 0% and paid off before the offer expires, but there are other items that are just flat out put onto our cards because we have no other options.

So in the grand scheme of the debts we've incurred..adding in the $75/mo for the new TV was something we're willing to fit into our budget right now.