Debt Dumpers - 2014

[LilSweetPeaPhoto]

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.

My husband has coveted my mom's 3D TV for 2 years now. We did get a deal, our 60" was $1500 with 2 years no interest as well. It's not a gimmick for us as we have all the Disney movies on 3D that my kids enjoy watching, as well as Dispicable Me, etc.

I guess you'd need to see my living room to understand. Remember, we want our toys! And we make decent money, so we feel we deserve our toys. My husband has 11 speakers in our surround sound system, and 2 subwoofers. It's actually quite ridiculous what my walls look like with 4 mounted speakers.

 

[LilSweetPeaPhoto]

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.

Want vs need could be true of everyone on 90% of the things in our lives. Like I've said before, I don't believe in Dave Ramsey's extreme measure for debt reduction.

For us, our TV died. We knew this was coming. We managed for 3 years to keep it plugging along by buying a new bulb (twice) and replacing that. Although shortly after this last bulb was replaced, issues began. So we asked for gift cards at Christmas to help off set it.

Our TV that died was 9 years old. So this expense, while it sucks being added to the mix for the next 2 years, it was something we knew was going to hit our expenses sooner then later.

I get that we have an issue w/ debt. But I'm not going to replace an item that could realistically last 8-10 years with a lesser product, for the short term because I could have an extra $65/mo (I miscalculated the payment, lol).

No matter what type of TV we bought, it was going to be an added cost to our budget (short of buying something much smaller, which would have just been added to our higher balanced higher interest rate credit cards). So we're taking advantage of Best Buy's 0% interest, and getting the TV we would have wanted.

Like I said, we have a home depot card we're about done with (truthfully we could pay it off now, but it too is zero interest). So our budget will just shift from the HD to the BB card.

 

[LilSweetPeaPhoto]

Perhaps I should share the fact I saved $40 at Target this weekend using just coupons I printed online, mobile coupons and cartwheels.

Or share the fact I managed to save $30 at the grocery store this weekend again using just printed online coupons.

Look, $70 "found" which will pay for my first TV payment.

 

[LilSweetPeaPhoto]

I also would like to add, we've made a huge change in our lives and the way we buy things in the last 2 months. We've stopped any autopayments (except my DD's braces) that were tied to our credit cards. We used to pay our daycare ($18k last year), all monthly expenses like food, trips to target, gas, etc, with our Amex. Which helped to contribute to the snowball effect of debt adding on.

We've since moved to using our debit card for these expenses and writing checks for daycare. We're not adding (except for my DD's braces) to our high balanced, high interest rate cards right now.

I've moved some of those balance onto zero interest cards. Which I know some here think is a bad idea. But when $300/mo was going to interest, I say we can't afford not to make this move. Our payments for these cards will go down now, and we'll be forced into paying down some of that debt that was isolated onto these zero interest cards at the same time. While my husband hates that he's gone from paying 5 cards a month, to 7 cards, we agree that it's helping us address our issue.

There's no right or wrong way for eliminating our debts. Expenses will happen. Emergencies will come up. What might seem stupid to you guys, might be an absolute to others. I think dogs are stupid, but it doesn't mean I would ever fault anyone for there choice to spend $$$$$$ on their dog. When the time comes for our cat (who's turning 16 this year), we won't be spending the money to prolong his life (if it's an option). He's a member of the family, my kids will be upset, but he's had a long, happy life.

Did I need a 60" TV? No. Do people need to spend $$$$$ on keeping a sick or aging pet alive? Do people need to spend $$$$$ on vacations? Do people need to spend $$$$ really any want (clothes, food, cars, books, houses, etc, etc)? We all have things in life we've chose to spend our money on. We all have reasons we've gotten into debt, some our own doing, some based on crappy karma, etc.

I've gotten some ideas on debt strategies that I can apply to my life. And some I shake my head at. There isn't a one size fits all. I came here to complain about our TV situation. I wasn't looking for high-fives for buying a new TV, but I wasn't also looking to be "scolded" for our choice of replacement.

I'll continue to post and read and lurk. As I do think there are some great people here. Some who've admitted to being much in the same boat as myself. And I guess rather then post the 35 rebuttal posts next time, I'll just move along

 

[zy144622]

Perhaps I should share the fact I saved $40 at Target this weekend using just coupons I printed online, mobile coupons and cartwheels. Or share the fact I managed to save $30 at the grocery store this weekend again using just printed online coupons. Look, $70 "found" which will pay for my first TV payment.

Awesome! I tried to coupon a few months last year and did great. Just couldn't keep up with life too. Wish I had time but work is 50+ hours a week.

Keep it up it all helps!

 

[AlohaNow]

LilSweetPeaPhoto – It’s all good! No need to defend your choice of TV purchase. I’ve said before on here that everyone makes their own personal choices of what is and is not important to them in their financial lives. We are probably the only household left in America with only one TV, and if that baby broke we’d be replacing it (with something nice and quality) right away too!

I like the changes you’ve made regarding taking certain items off of automatic charge. We have done the same thing recently, as it was mindlessly adding to our debt as well. Now that we are back on the mainland, this is much easier to do and to cash flow our basic expenses. Even though I feel badly about it, I even stopped my little $10 charges each month to my two favorite charities. I finally woke up and said, “We are drowning in debt, and do NOT have money to give away! What are we doing?” Every Little Bit Counts! It really does!

I think we are about in the same boat with the amount of credit card debt we have. Let’s paddle down the river to being debt-free together girl! There will of course be rapids along the way, but isn’t that why we’re all here? A bit of belt tightening and buckling down and it will be smooth sailing!!!

 

[dtr_angel]

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!!

I pay all my bills online. The only reason I wrote a check for this is because in the past, if I've paid over the monthly payment on the car, they apply it to interest and not principal. I specifically wrote on the check and on the note to apply this to principal. There's no way to do that online. With my mortgage online though, it does give me the option if I want to apply extra to principal, escrow, etc.

 

[Eureka]

Amy (LittleSweetPeaPhoto),
(have to say I read that as Little SweetPotato! lol)

Don't let anyone make you feel bad about your choices. We all make different choices. The thing is you know you have to do something and you're doing it. To each her own. Keep up the good work.

 

[dtr_angel]

LilSweetPeaPhoto – It’s all good! No need to defend your choice of TV purchase. I’ve said before on here that everyone makes their own personal choices of what is and is not important to them in their financial lives. We are probably the only household left in America with only one TV, and if that baby broke we’d be replacing it (with something nice and quality) right away too!

I like the changes you’ve made regarding taking certain items off of automatic charge. We have done the same thing recently, as it was mindlessly adding to our debt as well. Now that we are back on the mainland, this is much easier to do and to cash flow our basic expenses. Even though I feel badly about it, I even stopped my little $10 charges each month to my two favorite charities. I finally woke up and said, “We are drowning in debt, and do NOT have money to give away! What are we doing?” Every Little Bit Counts! It really does!

I think we are about in the same boat with the amount of credit card debt we have. Let’s paddle down the river to being debt-free together girl! There will of course be rapids along the way, but isn’t that why we’re all here? A bit of belt tightening and buckling down and it will be smooth sailing!!!

We only have one TV We did have a 2nd one in our room that was probably over 15 years old and only 19". It died while DS was a newborn and we never replaced it because we couldn't watch TV in our room anymore anyway. The one we had in our living room was a hand me down also, old 27" that was my parents, at least 10 years old. The color was going off and on but we were just too cheap to replace it. My parents got us a 32" flat screen on black friday for Christmas. I think they felt bad for us, lol. It just wasn't a priority for us. We don't have cable anymore anyway, and if we had to we can watch netflix on the kindle or my laptop. I know DH and I are definitely not the normal though! Before DS was born I watched a ton of TV on the DVR but now I just don't miss it because I don't have time.

 

[dtr_angel]

I also would like to add, we've made a huge change in our lives and the way we buy things in the last 2 months. We've stopped any autopayments (except my DD's braces) that were tied to our credit cards. We used to pay our daycare ($18k last year), all monthly expenses like food, trips to target, gas, etc, with our Amex. Which helped to contribute to the snowball effect of debt adding on.

We've since moved to using our debit card for these expenses and writing checks for daycare. We're not adding (except for my DD's braces) to our high balanced, high interest rate cards right now.

I've moved some of those balance onto zero interest cards. Which I know some here think is a bad idea. But when $300/mo was going to interest, I say we can't afford not to make this move. Our payments for these cards will go down now, and we'll be forced into paying down some of that debt that was isolated onto these zero interest cards at the same time. While my husband hates that he's gone from paying 5 cards a month, to 7 cards, we agree that it's helping us address our issue.

There's no right or wrong way for eliminating our debts. Expenses will happen. Emergencies will come up. What might seem stupid to you guys, might be an absolute to others. I think dogs are stupid, but it doesn't mean I would ever fault anyone for there choice to spend $$$$$$ on their dog. When the time comes for our cat (who's turning 16 this year), we won't be spending the money to prolong his life (if it's an option). He's a member of the family, my kids will be upset, but he's had a long, happy life.

Did I need a 60" TV? No. Do people need to spend $$$$$ on keeping a sick or aging pet alive? Do people need to spend $$$$$ on vacations? Do people need to spend $$$$ really any want (clothes, food, cars, books, houses, etc, etc)? We all have things in life we've chose to spend our money on. We all have reasons we've gotten into debt, some our own doing, some based on crappy karma, etc.

I've gotten some ideas on debt strategies that I can apply to my life. And some I shake my head at. There isn't a one size fits all. I came here to complain about our TV situation. I wasn't looking for high-fives for buying a new TV, but I wasn't also looking to be "scolded" for our choice of replacement.

I'll continue to post and read and lurk. As I do think there are some great people here. Some who've admitted to being much in the same boat as myself. And I guess rather then post the 35 rebuttal posts next time, I'll just move along

Wow, saving $300 a month in interest? That's great! It sounds like you've made a lot of positive changes.

 

[dtr_angel]

Amy (LittleSweetPeaPhoto),
(have to say I read that as Little SweetPotato! lol)

Don't let anyone make you feel bad about your choices. We all make different choices. The thing is you know you have to do something and you're doing it. To each her own. Keep up the good work.

I agree. I'd drop that much on a vacation. I'm not willing to give up vacation and precious memories with my family while my son is so young just to pay off the Jeep and student loans early. Life is too short not to enjoy it.

 

[LilSweetPeaPhoto]

LilSweetPeaPhoto – It’s all good! No need to defend your choice of TV purchase. I’ve said before on here that everyone makes their own personal choices of what is and is not important to them in their financial lives. We are probably the only household left in America with only one TV, and if that baby broke we’d be replacing it (with something nice and quality) right away too!

I like the changes you’ve made regarding taking certain items off of automatic charge. We have done the same thing recently, as it was mindlessly adding to our debt as well. Now that we are back on the mainland, this is much easier to do and to cash flow our basic expenses. Even though I feel badly about it, I even stopped my little $10 charges each month to my two favorite charities. I finally woke up and said, “We are drowning in debt, and do NOT have money to give away! What are we doing?” Every Little Bit Counts! It really does!

I think we are about in the same boat with the amount of credit card debt we have. Let’s paddle down the river to being debt-free together girl! There will of course be rapids along the way, but isn’t that why we’re all here? A bit of belt tightening and buckling down and it will be smooth sailing!!!

We're only boasting 2 TV's here. The 60" downstairs and a 40" in our bedroom I bought 3 years ago w/ photography biz profits. So we're not living it up in every room, LOL.

It's amazing what taking stuff off autopay can do! Let's sail on sailor

 

[gjl]

Deleted

 

[penguin1102]

My DH and I just got back from Vegas and used cash for everything!! The only thing we charged on CC was our hotel and has because of the cash back rewards, but we had the cash set aside for that. It is so nice to get from a vacation knowing that you did not add to your debt.

 

[Stuarotra]

I'm just going to remove myself from this board. Justify adding another payment to over 30k in debt all you want, but that's not debt dumping. I've never seen such habits work, so to me, that does nothing. I wasn't trying to be rude but addressing the fact that you were adding to debt. I used to have over 15k in CC debt and a 44k truck loan. I would have loved a 3d or even a flat screen, but once I realized the joke of a life I was living I waited until I didn't need to add a payment to get it. If you love your toys you can move all the money you want around onto no interest cards (and I did) but it was only after I realized I was never getting anywhere paying minimums until the next no interest card was available did I actually make a dent in my debt and get rid of it. Good luck to all I you who are actually dumping the debt. I just can't read three rebuttal posts about adding to 30k in debt and think that this board will help anyone!

I don't think it was directed at just you. I too have noticed some judgement from other posters, that along with people ranting about how much they hate people who use certain debt dumping teachings. Or worse than that, just totally ignoring your posts all together.
When I first started reading this post last year it seemed very encouraging. But when I decided to join, and post, I noticed a totally different vibe.

This will be my last post as well. Too bad because I have learned so much on here.

 

[gracie1]

I think everyone is getting side tracked here. The last thing I want is anyone feeling attacked and people to stop posting.
Some of us have debt were dumping. And some of us have dumped the debt and come on here for budget advice, etc. we are all on here to support others. It is not up to is to tell them how to spend their money but to cheer them on dumping their debt! We are all going to have unexpected items come up that can prolong and add to the debt dumping - but that's life.

I ask that everyone please respect everyone and not be judgemental.

 

[zy144622]

My DH and I just got back from Vegas and used cash for everything!! The only thing we charged on CC was our hotel and has because of the cash back rewards, but we had the cash set aside for that. It is so nice to get from a vacation knowing that you did not add to your debt.

Great Job!!!!

 

[DisHokie]

I'm late, but signing up!! Ready to pay off some student loans, car, house...

 

[dtr_angel]

switched our car insurance, it was $85 less than I had figured when I did the quote earlier this month There is $85 extra to our newly established Roth IRA.

in the process of switching our cell phones to a no-contract plan with our current carrier which will save us $25+/month

got our FSA debit cards today!

 

[roadtripper]

I think everyone is getting side tracked here. The last thing I want is anyone feeling attacked and people to stop posting.
Some of us have debt were dumping. And some of us have dumped the debt and come on here for budget advice, etc. we are all on here to support others. It is not up to is to tell them how to spend their money but to cheer them on dumping their debt! We are all going to have unexpected items come up that can prolong and add to the debt dumping - but that's life.

I ask that everyone please respect everyone and not be judgemental.

I am mostly a lurker here, but a long time DISer. I agree that we all have different priorities about how we tackle debt, but I cannot make sense of applauding someone with 29K in credit card debt (her number) to tack on an additional 60-70 month for a 60 inch TV because she got a "deal" on it. I recently read that one should not have such an open mind that your brains fall out. If you don't put money into an emergency fund, you will ALWAYS be playing catch up. My husband just totaled a car a week before we paid off our other car. He is walking 2.5 miles to work (in the winter!) in order to build up our depleted emergency fund, since other emergencies came up. Life is full of emergencies. If you have a fund for it, no one else will judge whether getting a new TV constitutes an emergency for your family. If you have 29K in cc debt, people will--maybe rightfully so if you're posting here to dump (and not add to) debt. Just my .02.