Debt Dumpers - 2014

[gracie1]

I am in. We don't have a lot of debt, but we do need to start saving more. 2013 had some huge suprise expenses *cough DS #3 cough* So I will be cheering everyone on and hoping for a better financial 2014!

Congrats on baby #3!! I see he is only 3 months old, so I'm taking it that he was the surprise?

 

[1andrea]

What is cinnamon belvita? I love, love, love Stacy's pita chips! Especially the bruschetta flavored ones I get at bjs! Yum!

Cinnamon Belvita are breakfast biscuits (but I'd eat them all day) look on Walmart website and just put in Belvita and it will bring up the full range!

What's BJ's?

I'm addicted to the Parmesan and Herb Stacys Pitta Chips. I'm limited to 1 bag a day as they were bought for me as a Christmas gift (after some major hints) and were really expensive.

I've never had the bruschetta flavour. When I was over in the summer I got my supply from Publix.

I want to be in America now.

 

[PGHDisneyfan]

Long time reader first time poster no pun intended. We have a healthy pile of debt from buying a foreclosure and dumping 30k into it,having 2 kids one of which we had at home 7 weeks early and all the expenses that incurred, 2 years of unemployment, some of wifeys medical bills, and misc BS. Just met with the local bank and need some general advice.

The loan officer we are working with suggested 2 options we have about 24k in credit cards we are trying to eliminate most of which came from the house. Option 1 will give us enough money to pay off 1 medium card about 6k and leave enough to pay off most of a small card about 1500$ this only tacks 2 years on to our home payments bumping us to 22 years. Option 2 since our house assessed at a much higher figure than we guessed he suggested take out a bit more and pay off the medium card, the small card and some of a larger card. In addition stretch our payments to 30 years but at a lower cost per month so we can apply more to the debt balance. I for one hate the thought of going back to a 30 year morgage since we are at 20 now. I recently received a promotion and raise and now have the option to move anywhere we want and I'm wondering if option 2 would hurt us if we decided to move.

Any insite would be great. FYI before we bought our foreclosure we never carried a CC balance. This house just needed even more than we though.

 

[Eureka]

Cinnamon Belvita are breakfast biscuits (but I'd eat them all day) look on Walmart website and just put in Belvita and it will bring up the full range!

What's BJ's?

I'm addicted to the Parmesan and Herb Stacys Pitta Chips. I'm limited to 1 bag a day as they were bought for me as a Christmas gift (after some major hints) and were really expensive.

I've never had the bruschetta flavour. When I was over in the summer I got my supply from Publix.

I want to be in America now.

BJ's is a wholesale club. Don't know if you have them there, you pay a membership but then the prices are lower. Generally the food is in larger quantities/sizes. We get a huge bag of Stacy's pita chips for about $5, whereas the smaller bags in the supermarket are $2.99-$3.29 and aren't even half the size.

 

[1andrea]

BJ's is a wholesale club. Don't know if you have them there, you pay a membership but then the prices are lower. Generally the food is in larger quantities/sizes. We get a huge bag of Stacy's pita chips for about $5, whereas the smaller bags in the supermarket are $2.99-$3.29 and aren't even half the size.

How big is a big bag??

Is BJ's similar to Costco?

I wonder if I'd be allowed to join up when I'm on vacation?

X

 

[Eureka]

How big is a big bag??

Is BJ's similar to Costco?

I wonder if I'd be allowed to join up when I'm on vacation?

X

I just checked, the big bag is 24 oz. Yes, Bj's is like Costco. Sometimes you can go on a one-day pass and pay like 5% above normal prices for that day without a membership. I like BJ's because they take coupons.

 

[1andrea]

I just checked, the big bag is 24 oz. Yes, Bj's is like Costco. Sometimes you can go on a one-day pass and pay like 5% above normal prices for that day without a membership. I like BJ's because they take coupons.

I wonder if they'd let me in and if they have one in Orlando. I want to go, I love supermarkets in the US I get excited for Walmart! Oh and I love coupons, I sometimes watch extreme couponing about people in America getting things for free! So jealous!!

I've just checked my itty bitty tiny bags of Pitta Chips and they're 1.5 ounces.

I'm so jealous of your 24 ounce bags. Have to ration mine!! With yours Tou could have a pitta chip party

 

[Eureka]

I wonder if they'd let me in and if they have one in Orlando. I want to go, I love supermarkets in the US I get excited for Walmart! Oh and I love coupons, I sometimes watch extreme couponing about people in America getting things for free! So jealous!!

I've just checked my itty bitty tiny bags of Pitta Chips and they're 1.5 ounces.

I'm so jealous of your 24 ounce bags. Have to ration mine!! With yours Tou could have a pitta chip party

The website is www.bjs.com and I see this on their website: ORLANDO - I-4 AT CONROY RD.
4697 Millenia Plaza Way
Orlando, FL 32839

In fact for NYE tonight I am making dip and pita chips for part of our finger food spread (just me, DH and the boys). They'll eat regular chips but too greasy for my stomach, so give me Simply Naked Stacy's and I am happy

 

[gracie1]

Cinnamon Belvita are breakfast biscuits (but I'd eat them all day) look on Walmart website and just put in Belvita and it will bring up the full range!

What's BJ's?

I'm addicted to the Parmesan and Herb Stacys Pitta Chips. I'm limited to 1 bag a day as they were bought for me as a Christmas gift (after some major hints) and were really expensive.

I've never had the bruschetta flavour. When I was over in the summer I got my supply from Publix.

I want to be in America now.

Okay, now I know what belvita is! I just had to see the box. I've never tried them....hmm something to add to my shopping list! I have a bag of the Parmesan and Herb pita chips in the cabinet, like those too

 

[gracie1]

The website is www.bjs.com and I see this on their website: ORLANDO - I-4 AT CONROY RD.
4697 Millenia Plaza Way
Orlando, FL 32839

In fact for NYE tonight I am making dip and pita chips for part of our finger food spread (just me, DH and the boys). They'll eat regular chips but too greasy for my stomach, so give me Simply Naked Stacy's and I am happy

Love the Simply Naked chips for dips!

 

[gracie1]

Long time reader first time poster no pun intended. We have a healthy pile of debt from buying a foreclosure and dumping 30k into it,having 2 kids one of which we had at home 7 weeks early and all the expenses that incurred, 2 years of unemployment, some of wifeys medical bills, and misc BS. Just met with the local bank and need some general advice.

The loan officer we are working with suggested 2 options we have about 24k in credit cards we are trying to eliminate most of which came from the house. Option 1 will give us enough money to pay off 1 medium card about 6k and leave enough to pay off most of a small card about 1500$ this only tacks 2 years on to our home payments bumping us to 22 years. Option 2 since our house assessed at a much higher figure than we guessed he suggested take out a bit more and pay off the medium card, the small card and some of a larger card. In addition stretch our payments to 30 years but at a lower cost per month so we can apply more to the debt balance. I for one hate the thought of going back to a 30 year morgage since we are at 20 now. I recently received a promotion and raise and now have the option to move anywhere we want and I'm wondering if option 2 would hurt us if we decided to move.

Any insite would be great. FYI before we bought our foreclosure we never carried a CC balance. This house just needed even more than we though.

If you bumped the mortgage back up to 30 years - how much would be left for you to still pay on the remaining balance?

 

[nacorom]

Woohoo!
Just paid off my last credit card! Now debt free and working towards saving! Puts an extra 1k in my pocket a month. Hmmmmm what to do what to do?

 

[superme80]

Congrats on baby #3!! I see he is only 3 months old, so I'm taking it that he was the surprise?

Thank you! And yes he was very much a surprise. Wouldn't trade him for the world though! So my goal this week is menu planning to save on grocery cost. I realized I wasted way too much food this past year.

 

[gracie1]

Woohoo!
Just paid off my last credit card! Now debt free and working towards saving! Puts an extra 1k in my pocket a month. Hmmmmm what to do what to do?

Congrats Isn't it a great feeling?? Do you already have your emergency fund in place? That's what I would do with the extra $1000 a month for now - build up that emergency fund for the unexpected! And you can also up your retirement fund maybe 1-2% (if you have one)

 

[SpaceGirl]

Long time reader first time poster no pun intended. We have a healthy pile of debt from buying a foreclosure and dumping 30k into it,having 2 kids one of which we had at home 7 weeks early and all the expenses that incurred, 2 years of unemployment, some of wifeys medical bills, and misc BS. Just met with the local bank and need some general advice.

The loan officer we are working with suggested 2 options we have about 24k in credit cards we are trying to eliminate most of which came from the house. Option 1 will give us enough money to pay off 1 medium card about 6k and leave enough to pay off most of a small card about 1500$ this only tacks 2 years on to our home payments bumping us to 22 years. Option 2 since our house assessed at a much higher figure than we guessed he suggested take out a bit more and pay off the medium card, the small card and some of a larger card. In addition stretch our payments to 30 years but at a lower cost per month so we can apply more to the debt balance. I for one hate the thought of going back to a 30 year morgage since we are at 20 now. I recently received a promotion and raise and now have the option to move anywhere we want and I'm wondering if option 2 would hurt us if we decided to move.

Any insite would be great. FYI before we bought our foreclosure we never carried a CC balance. This house just needed even more than we though.

Of the two options # 1, but I have to say neither I wouldn't ever extend on a mortgage and neither option would eliminate all your credit card debt. The effects are easier for now but overall you'll be adding much more debt with longer payments on your mortgage. Plus this option would put your home at risk if the new payments can't be paid. You would have to do the math but the added years would be way more than what you owe now.

Because you purchased a foreclosure technically the extra expenses should be part of the total financed though...How long have you been in you home?

Is it possible to obtain a separate loan for the improvements/credit card debt with a fixed rate that you could pay off earlier or move all your debt to one card with a 0% interest for an extended time to give you time to pay down the balance?

Statistics show that if you borrow to get rid of your credit card debt that within a few years you will find yourself with even more debt because you didn't bite the bullet and learn how to curb your spending, the debt was just moved around. Moving debt for better interest rates is the exception.

I found that listing all my debt with percentage rates and the interest I was paying each month helped me start paying the cards off. I paid the cards with the highest rates off first because unlike Dave Ramsey's method of making yourself feel better by eliminating the smaller debt first it would be self gratifying, I felt that self gratification was a major reason I was in credit card debt "See it, Want it, Buy it."

I did my own snowballing starting with one card until the balance was zero, then moved on to the next card. It wasn't easy it took a few years, yet by cutting expenses and putting as much as I could toward the bills the balances did start coming down, without adding any new debt, that's the biggest key NO NEW DEBT.

You can do this on your own without adding to your mortgage. Trust me I owed twice as much as you do, and now in 10 months my mortgage will be paid in full.

Good Luck we will be here for you which ever way you decide to handle getting rid of this debt.

 

[Shanan]

Put more on my Disney credit card in December then I should have. I have cancelled my automatic transfer from checking to savings account (on payday) to use that money to pay down/off the credit card. Got away from the good ole budget worksheet this fall & winter. Will be watching the budget better. Oh well at least I know where I fell off wagon & time to climb back on & do better. Good luck to all Debt Dumpers

 

[gracie1]

Put more on my Disney credit card in December then I should have. I have cancelled my automatic transfer from checking to savings account (on payday) to use that money to pay down/off the credit card. Got away from the good ole budget worksheet this fall & winter. Will be watching the budget better. Oh well at least I know where I fell off wagon & time to climb back on & do better. Good luck to all Debt Dumpers

It's not hard to put more on the cc than you expected!! Sometimes when I use mine and then I log on a few days later to check the balance I am shocked!!

 

[Sew into Disney]

Student loan repayment question ...
I currently have 4 different loans (groups) ranging from $1800 to $6000 The interest rates are 3.4% to 6%. What would be the best way to pay these off?

Should I go for the lowest loan (it has a 4.5% interest rate)? Or should I go for the highest interest rate?

I am on a income based repayment plan and being single mom with only my income makes my payment zero. I just can't sit and watch the interest stack up. When I called today they told me I have to pay off the interest on the loan I wanted to make payments on before it would start applying to principal.

I was thinking I would go with the lowest loan amount first because I have a better chance of paying off that interest and making regular payments. Like realistically I could start doing that by the 15th of Jan. However, if it is wiser to go with the higher interest rate one to pay down the loans quicker I can look over my budget again and see if that is doable.


I have a little in savings right now and no emergency fund (yet).

Thank you in advance.

 

[SpaceGirl]

Sew into Disney

In almost every case I would say pay the Highest Interest Loan first yet in your case (Each case is always different) because you are a single Mother, only work 9 months of the year, and haven't been paying anything on your loans, I would start small see how that goes then snowball to the next loan. This will get the loans into your monthly budget then you can go from there. If you don't have a problem meeting the payments you can move to the Higher Interest Loan next.

You could also try to pay as much of the one credit card you have the balance on which you are planning on using your tax return on down, so the tax return could go toward your student loan.

Good Luck keep us in the loop.

 

[1andrea]

The website is www.bjs.com and I see this on their website: ORLANDO - I-4 AT CONROY RD.
4697 Millenia Plaza Way
Orlando, FL 32839

In fact for NYE tonight I am making dip and pita chips for part of our finger food spread (just me, DH and the boys). They'll eat regular chips but too greasy for my stomach, so give me Simply Naked Stacy's and I am happy

Sounds good.... is that an invite??? With the time difference I think I can still make it in time!!

I will definitely go to BJ'S just need to find out if they'll let me have a day pass (or a three week pass even!!)