Debt Dumpers - 2014

[gracie1]

Thanks. I think it will be a lot of fun, or else I wouldn't go. lol I do think that traveling by myself will be a much different experience. I'm debating on getting the Memory Maker package since it's just me and I have most of the pictures I'd want anyway. On the other hand, it is just me, so I can redo stuff a whole lot easier if the picture doesn't come out the way I'd like. Kind of a "6 dozen of one, 1/2 of the other" scenario.

I do have TS reservations. At Chefs de France and Garden Grill in Epcot. (Although, I've heard that Remy no longer does the rounds at Chefs, so I may cancel that one) and then breakfast at Chef Mickeys before one of my MK days and lunch in HS at '50's Prime Time Cafe.

Haven't managed to get to O'hana's yet, but everything I hear about it sounds great.

If you can get O'hana's I would definitely do it! The breakfast was delicious (plus I love Stitch!!) I didn't get to Chef Mickeys but that will be on my list for the next time I go!

 

[LilSweetPeaPhoto]

Made $10 off an ebay auction last night. Every bit counts. Gearing up for the consignment sale this spring too.

Despite popular belief, we're doing good this month. My gap bill is zero (sometimes I forget to pay that off at the end of the month, since I don't get paper bills). I had to carry a balance on my business amex card while I waited for my old camera to sell on ebay (I bought a new one cheaper then I sold the old one for! Bonus money). But that's paid off.

Moving to our debit cards makes it harder to charge senselessly I guess. I'm addicted to checking our mint account daily, LOL. Though my husband warns me against putting too much stock in it as we have auto-pay that draw at different times in the month vs pay periods, etc.

We now have 5 CC's with balances ranging from $200-2000. All are either zero or very low interest rates. Seeing as we were getting killed with high balances on high rate cards, it's nice to see some of our debt isn't killing us month after month after month. And our biggest balance is still at 0% for 21 months which is really nice.

I'd like to see DH and I attack the 2 balances we have remaining on the higher rate cards. Focus on really getting those balances down, while we do minimums on the others for awhile. While it'd be nice to see a $500 card go away (we could easily do that with what we have in "reserves", I'd rather take a chunk of that money and attack the ones hurting us the most.

I also need to talk my husband into releasing money to these debts. Anytime we have money come in, he's more prone to let it just sit in our checking account, which we all know as spenders, slowly starts to disappear. Even if he's only letting go of $100 here and there, it's $100 off the bigger picture.

On all that note, I'm praying for the cold day tomorrow. Temps might be -30 below. That'll mean no commute to work, or going out spending, LOL.

Oh and that reminds me, I filled up yesterday for $2.86/gal. Kroger hadn't upped their prices yet, and I have $.30 in fuel points. The going rate here right now is $3.40+/gal. So that's like $10 in savings

 

[gracie1]

Made $10 off an ebay auction last night. Every bit counts. Gearing up for the consignment sale this spring too.

Despite popular belief, we're doing good this month. My gap bill is zero (sometimes I forget to pay that off at the end of the month, since I don't get paper bills). I had to carry a balance on my business amex card while I waited for my old camera to sell on ebay (I bought a new one cheaper then I sold the old one for! Bonus money). But that's paid off.

Moving to our debit cards makes it harder to charge senselessly I guess. I'm addicted to checking our mint account daily, LOL. Though my husband warns me against putting too much stock in it as we have auto-pay that draw at different times in the month vs pay periods, etc.

We now have 5 CC's with balances ranging from $200-2000. All are either zero or very low interest rates. Seeing as we were getting killed with high balances on high rate cards, it's nice to see some of our debt isn't killing us month after month after month. And our biggest balance is still at 0% for 21 months which is really nice.

I'd like to see DH and I attack the 2 balances we have remaining on the higher rate cards. Focus on really getting those balances down, while we do minimums on the others for awhile. While it'd be nice to see a $500 card go away (we could easily do that with what we have in "reserves", I'd rather take a chunk of that money and attack the ones hurting us the most.

I also need to talk my husband into releasing money to these debts. Anytime we have money come in, he's more prone to let it just sit in our checking account, which we all know as spenders, slowly starts to disappear. Even if he's only letting go of $100 here and there, it's $100 off the bigger picture.

On all that note, I'm praying for the cold day tomorrow. Temps might be -30 below. That'll mean no commute to work, or going out spending, LOL.

Oh and that reminds me, I filled up yesterday for $2.86/gal. Kroger hadn't upped their prices yet, and I have $.30 in fuel points. The going rate here right now is $3.40+/gal. So that's like $10 in savings

Is your husband on plan with paying off the debt? If so, then the extra money should go right onto your debt and not sit in the checking account. When you are talking about money in your reserve account and you can easily take $500 out to pay off one of the credit cards - would that wipe your reserve account to $0?? Because if it wouldn't and you would have money sitting in there that could handle some unexpected expenses, I would take it, pay off the $500 card, and then sink the money being paid onto that with one of the higher interest cards and start snowballing it.

 

[jenny105]

We got our W2s on Tuesday so I immediately went home and filed lol. I'll be getting $1305 back from federal. Nice chunk of change! I have to wait until the 31st to file the state taxes but I never get a huge amount from them. $50 if I'm lucky. Part of my refund is going to pay off our cruise in May (yes I'm in debt and I go on vacation. Big whoop, so what, wanna fight about it?) and the rest is going into my e-fund. I can't wait to get it back!

 

[gracie1]

We got our W2s on Tuesday so I immediately went home and filed lol. I'll be getting $1305 back from federal. Nice chunk of change! I have to wait until the 31st to file the state taxes but I never get a huge amount from them. $50 if I'm lucky. Part of my refund is going to pay off our cruise in May (yes I'm in debt and I go on vacation. Big whoop, so what, wanna fight about it?) and the rest is going into my e-fund. I can't wait to get it back!

Your going on vacation and your in debt I actually vacationed more when I was in much more debt I have been sitting here all day thinking of vacations - specifically Christmas in Disney!

Are you doing a Disney Cruise?

 

[jenny105]

Your going on vacation and your in debt I actually vacationed more when I was in much more debt I have been sitting here all day thinking of vacations - specifically Christmas in Disney!

Are you doing a Disney Cruise?

No we are cruising with Carnival out of NYC. I am a TA and got a great rate plus we had a $700 credit with them that had to be used by next year. We didn't want to pass it up!

 

[GAGirlInVA]

Sorry I've not been around. I've been swamped with school (full time student and homeschooling my kiddos) and then we had a sickness come through. The baby had an ear infection and bronchiolitis and needed an antibiotic (we generally try to avoid, but this one was necessary!)

Our grocery fund still has about $20 left in it (envelopes are in the room where said sick baby is napping, not looking right now), the household fund has $50 in it (need lightbulbs and to pay our library fine-- naughty homeschooler!), and I have a tiny bit of blow money left.

Payday is tomorrow. We also got snow, so we haven't been out much. I cancelled two appointments we had today because I just didn't feel comfortable driving since none of the neighborhood roads are clear and we had trouble getting up the big hill the other night coming home from the pharmacy. That has saved us quite a bit.

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.

AWESOME! I love it when I can work out some deals with a giftcard. We recently replaced our crib mattress (it had suffered major abuse with the older boys) with a $50 giftcard from Kmart for moving two prescriptions there. SCORE!

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

Awesome! We paid of Kohl's. Target is next!

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!

Awesome!

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.

YAY for getting better at budgeting. It gets better and better from here!

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!

Oh bummer! But it'll get there and good for you for writing that check!

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?

I can't wait to dump our PMI and escrow!

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!

YAY!!!!! We love our FSA cards!

 

[Sew into Disney]

Yesterday I received the last of my income for the month of January. After I paid off the remaining bills I have a whopping $101 left until Feb. 4th. That is just enough to fill the gas tank and cat food.

On a plus note I do have a small amount of money in savings. Half of it is for my emergency fund and the other half will hopefully go towards my birthday trip to Disneyland.

I did my taxes but have not filed them yet. Every year my ex and I go round and round about him wanting to claim one of the kids. He gave up the right to claim them when we got divorced. I am debating if I want to give one up to him this year. It doesn't affect my return.
I am also waiting to file because I am not sure how to handle some income I received from sewing for others. I am not a registered business but I do sell on Etsy and make custom outfits for a friends dance studio. I guess I need to make some calls tomorrow and see how to file.

My return will pay off the only cc I have. The rest of the return will be split between emergency fund, vacation and most importantly money for the summer months I don't work.

 

[gracie1]

Yesterday I received the last of my income for the month of January. After I paid off the remaining bills I have a whopping $101 left until Feb. 4th. That is just enough to fill the gas tank and cat food.

On a plus note I do have a small amount of money in savings. Half of it is for my emergency fund and the other half will hopefully go towards my birthday trip to Disneyland.

I did my taxes but have not filed them yet. Every year my ex and I go round and round about him wanting to claim one of the kids. He gave up the right to claim them when we got divorced. I am debating if I want to give one up to him this year. It doesn't affect my return.
I am also waiting to file because I am not sure how to handle some income I received from sewing for others. I am not a registered business but I do sell on Etsy and make custom outfits for a friends dance studio. I guess I need to make some calls tomorrow and see how to file.

My return will pay off the only cc I have. The rest of the return will be split between emergency fund, vacation and most importantly money for the summer months I don't work.

You are on a roll!! Way to go! I still have two more statements I am waiting for so I can schedule to get my taxes done. I plan on putting it all in my emergency fund (depending how much I get back - I may actually treat myself to something!)

 

[aliceindisneyland]

I'd like to see DH and I attack the 2 balances we have remaining on the higher rate cards. Focus on really getting those balances down, while we do minimums on the others for awhile. While it'd be nice to see a $500 card go away (we could easily do that with what we have in "reserves", I'd rather take a chunk of that money and attack the ones hurting us the most.

I also need to talk my husband into releasing money to these debts. Anytime we have money come in, he's more prone to let it just sit in our checking account, which we all know as spenders, slowly starts to disappear. Even if he's only letting go of $100 here and there, it's $100 off the bigger picture.

Great job! I'm with you on paying highest interest first - I don't need the mental satisfaction of paying off small balances first [Dave Ramsey] - I need to pay less interest and get out of debt faster!

"Releasing money to these debts" - great way to put it! We have a chunk of money from stocks sale that is sitting in my checking and getting frittered away as you described - I need to sit down for 10 min and pay off the stuff I intended to pay off with it before it's all gone!

 

[PrincessKymm]

I received my W2 yesterday so I will be working on my taxes this weekend. I've been working a lot of hours because my coworker walked out after her review. I wasn't surprised but she put us in a right spot so I'll be working 10-12 hours a day until we can find a replacement.

I have to submit my refund to the court and once they clear it (from my bankruptcy) I will put whatever they let me have towards my car loan. With any luck I'll be under $2,000 on my loan by the end of March! It's very motivating to get my taxes done!

 

[aliceindisneyland]

We just got $1350 back from our rental security deposit, and $575 knocked off next month's rent at the new rental house as I had to clean it myself though it was promised as move-in ready. That $1975 will be worth $2040 after I buy $1300 in Disney gcs at Target [don't want to overbuy as this is our last trip for a while] - 4 day Disneyland trip is paid for!
DH and I spent 2 straight days cleaning the old house, and I spent 4 days cleaning the new one, so I feel like I earned this the hard way, but definitely worth it to have "found money" and not add to our debt for a trip that was going to be taken whether the money was there or not. (Yes, irresponsible, but we just moved to AZ and our monthly DL trips are to be no more...it's our last hurrah - and we moved into a house that is less than half the rent/utilities we were paying in CA! So lots of cash available in the budget now to pay off debt quickly!)

 

[wunkmom]

Rounded up all the loose change in the house and from the cars.....$75.00 into the savings account! Now on to gathering paperwork to file my taxes this weekend!

 

[gracie1]

No we are cruising with Carnival out of NYC. I am a TA and got a great rate plus we had a $700 credit with them that had to be used by next year. We didn't want to pass it up!

I don't blame you with a $700 credit! I have only been on one cruise (Royal Caribbean) but would definitely like to go on another!

 

[Virgderon]

First time posting on this thread. I need to brag and this is the only place I can! Paid off the car and a small credit credit card ( only 185 dollars) today. Five years ago I owned 3 cars: mine, my older daughters and my younger daughters. I was paying almost 700 a month toward cars. And today I paid off the last one!! It's a happy day.

 

[gracie1]

First time posting on this thread. I need to brag and this is the only place I can! Paid off the car and a small credit credit card ( only 185 dollars) today. Five years ago I owned 3 cars: mine, my older daughters and my younger daughters. I was paying almost 700 a month toward cars. And today I paid off the last one!! It's a happy day.

Welcome!!!! You deserve to brag big time!!!!! Way to go! No more car payments and a credit card paid off is a huge accomplishment!!!

 

[Kachina]

Just e-filed our fed and state taxes today.
Half is going towards debt, and half is going toward a new furnace/air conditioner.

 

[Holly Quinlan]

Paid off a $700 loan today!!! SO excited to not have to deal with them again. Next payday I will pay off my QVC card from Christmas shopping.

 

[dayvewc]

Just e-filed our fed and state taxes today. Half is going towards debt, and half is going toward a new furnace/air conditioner.

Way to go!!! Congratulations!!

Paid off a $700 loan today!!! SO excited to not have to deal with them again. Next payday I will pay off my QVC card from Christmas shopping.

Nice!! Looking forward to the day I can pay off my loans and CC's.

 

[Colleen27]

We got our W2s on Tuesday so I immediately went home and filed lol. I'll be getting $1305 back from federal. Nice chunk of change!

Nice! I'm still waiting on one last W2 before we can file, but I have everything else ready to do and that income penciled in using DH's last check stub of the year and it looks like we're going to get a nice return this year too. That's one silver lining of a tighter year business-wise - low enough self-employment tax liability that our credits more than offset it, plus with me in school this year we're getting a tax credit based on those expenses.

It is going 75/25 at debt and other practical matters vs fun, so I hear you on vacationing with debt. Ours is more than enough to wipe out the remaining balance on our CC but even if it wasn't that ratio wouldn't change. It isn't enough to fully rebuild our emergency fund but we're still not throwing it all at business with no room for fun.

On a geek-win tangent, I set up a earnings tracker in Excel for myself to help keep me motivated and it certainly is working so far. I am up to $179.53 for January and between snow days and sick kids I didn't even get started until 1/15. Since anything I earn is extra (off budget) that's a pretty nice number to see with a week still left in the month.