Debt Dumpers - 2014

[gracie1]

Good luck on your race. That is on my bucket list to do. I also agree about going to cash only for stores and resteraunts.

DH and I are going to make a plan this week on what to do with his income. He only works part time coaching soccer but he makes around $15k. We always make a plan for what to do with the money so we don't just blow it. It usually goes towards house repairs, vacations, and any other unexpected expense that may hit us. We know we will set aside $1k for small emergency fund, and we will use some to pay off 1 of the credit cards, set aside some for yard work and new back door, and some for mini vacation for him and I to celebrate our 15th wedding anniversary. He gets the money spreadh out from April to Sept. I looked at our Feb. budget and if "Murphy" stays away I can pay off the other card in Feb. It will be so great to have 1 card gone in Feb.

Way to go! Sounds like you have a great plan set up! It's always exciting to get that first card paid off!! Gives you so much more motivation

 

[wunkmom]

"you shouldn't be going on vacation with debt"? I am not so sure I agree anymore. I think life has to be about balance. I have swung so far each way over the years from not spending any money and being called the cheapest person on the earth to thinking what the heck do it. Balance is the key I have decided. We are also going away this year and probably should not. Goal is to pay cash but also to watch money and expenses while paying down debt. Life is no life without a little joy in it. I deal with people daily at the end of life and this is also the advice they give frequently (requested or not). Enjoy the race. I ran the 1/2 the year I turned 40 (midlife crisis I guess) I would not change that accomplishment for anything. It takes hard work bring your camera there are lots of characters and backlot pictures to take. People stop throughout the race. Just keep up the pace so you don't get picked up by the bus. They do make people not keeping up get on.

This! ^^^^^
I totally agree with balance. We took a big trip to WDW last year, even though we were already in debt. We had not been on a big family vacation in years. We knew going into it that we wouldn't be taking another trip for at least 2-3 years while we work down our debt. We had a GREAT trip. We didn't go overboard on anything, but didn't deny ourselves either. And I can start planning our next trip now to tide me over til 2016.

 

[gracie1]

This! ^^^^^
I totally agree with balance. We took a big trip to WDW last year, even though we were already in debt. We had not been on a big family vacation in years. We knew going into it that we wouldn't be taking another trip for at least 2-3 years while we work down our debt. We had a GREAT trip. We didn't go overboard on anything, but didn't deny ourselves either. And I can start planning our next trip now to tide me over til 2016.

I did the same - I took a trip while I was in debt -and I paid for my Disney trip via credit card adding to the debt. Was it the smartest thing in the world? No - but I don't regret doing it! I had a fantastic vacation!

 

[AlohaNow]

Hello fellow debt dumpers! Love reading all the good things on here. Sending hugs out to those experiencing set-backs (otherwise known as life) and frustrations!

Friday’s dental appointment revealed the need for three, yes, three root canals. Two to be performed by the dentist and one by an endodontist. (Spreading the wealth with friends I guess?) I got the estimate from my dentist and must schedule separately with the endodontist, so don’t have that cost yet. But the numbers aren’t too bad and I am not freaking out. Isn’t it fabulous to blow your whole FSA account early in the year? At least the money is there though…..

Mind if I cry in my beer for a moment? : I just want to say that I am jealous of you all getting your tax returns this year. We will owe a few thousand due to how we came about the down payment on the house we bought last year. We did not have taxes withheld from the dispersal, so it will be time to pay up for that come April. Not unexpected, we totally knew this would be our tax situation for the year, and it is only a one-time thing. Hey, we got the house we wanted and that 30-year fixed is fixed! We won’t even get to itemize for 2013, but will realize the benefit of owning a home for the full calendar year come next April. Just have to be patient…..and I still enjoy hearing about everyone’s plans for their refunds! In my mind I am going on vacation with you all!

I used to volunteer for the VITA program (Volunteer Income Tax Assistance) and want to make sure you all know about this program. If your adjusted gross income is $52,000 or below, you most likely qualify to have your taxes prepared for free by certified IRS volunteers. Just Google IRS VITA to find out where to call/go in your community. It just kills me to see people with astoundingly simple tax situations pay to have their returns prepared. Taxes are not that difficult – the tax prep industry just wants to make you think they are. I always say if you can read and do math, then you can do your own taxes! Anyway, your tax dollars pay for the VITA program, so you may as well use it if you qualify!

Have a great week everyone!

 

[Ngwira]

"you shouldn't be going on vacation with debt"?
I am not so sure I agree anymore. I think life has to be about balance. I have swung so far each way over the years from not spending any money and being called the cheapest person on the earth to thinking what the heck do it. Balance is the key I have decided. We are also going away this year and probably should not. Goal is to pay cash but also to watch money and expenses while paying down debt. Life is no life without a little joy in it. I deal with people daily at the end of life and this is also the advice they give frequently (requested or not). Enjoy the race. I ran the 1/2 the year I turned 40 (midlife crisis I guess) I would not change that accomplishment for anything. It takes hard work bring your camera there are lots of characters and backlot pictures to take. People stop throughout the race. Just keep up the pace so you don't get picked up by the bus. They do make people not keeping up get on.

THIS ^ So true. You only live once. That doesn't mean spend recklessly, but it does mean that you shouldn't put life "on hold" just to become debt free. Spend wisely but absolutely enjoy the time you are here. My family and I are trying to pay down debt, but we are still going to Disney in August, and we are doing it big. 10 days, 9 nights in the Grand Floridian and Contemporary. The Trip was paid in cash,(using tax refund money and bonus money) no debt or charging it up.

We only take one vacation per year and I clip coupons and buy all the kids and my clothes at the consignment/thrift shop in order to take nice vacations. We also cut our expensive phone plan this year and now do pre-paid. We bought a new house a few months ago and 90 percent of the furnishings are from thrift stores. I cut corners every way I can to have a nice vacation. I realized that memories with my family are worth so much more than having the latest greatest "stuff". That's my philosophy and I am happy with it. Balance is KEY. Cut corners elsewhere to enjoy lavishly in an area that matters MOST.
And yes, we do have an emergency fund with over $14,000 in it, so I feel blessed because I know most people cannot say the same. But, I still shop at thrift stores and refuse to spend money on STUFF, I really don't need.

 

[BernardandMissBianca]

"you shouldn't be going on vacation with debt"?
I am not so sure I agree anymore. I think life has to be about balance. I have swung so far each way over the years from not spending any money and being called the cheapest person on the earth to thinking what the heck do it. Balance is the key I have decided. We are also going away this year and probably should not. Goal is to pay cash but also to watch money and expenses while paying down debt. Life is no life without a little joy in it. I deal with people daily at the end of life and this is also the advice they give frequently (requested or not). Enjoy the race. I ran the 1/2 the year I turned 40 (midlife crisis I guess) I would not change that accomplishment for anything. It takes hard work bring your camera there are lots of characters and backlot pictures to take. People stop throughout the race. Just keep up the pace so you don't get picked up by the bus. They do make people not keeping up get on.

I think this will be the last family vacation for a while. DS17 is off to college in the fall, I have 2 going into HS in the next 2 years with 3 seasons of sports and summer conditioning, and DD is up to her eyeballs in Dance and she starts pole vaulting next year.
I also turned 40 this year and decided this race was my big "only for me" moment, when I registered for the race I didn't know that kids would have that week off so it was just supposed to be me going.
I'm bringing DS13's little canon for pics. I run a 14 minute mile so not a ton of wiggle room but I hope to at least get shots of the mile markers and characters as I run by. I doubt I will stop for pics.

Thanks for the well wishes everyone! I'm so nervous but so excited!

 

[jenny105]

I agree with balancing debt and fun. I can't imagine not going on vacation (I'm a TA, it's what I do lol). I pay for my vacations in cash so I'm not adding to my debt. Some would argue I could put the money toward my debt and yes, I could, but I like traveling. As long as I'm not adding to the debt I don't see a problem. It definitely helped that we had a $700 credit to apply toward our cruise because it's not costing us nearly as much as it should. And when I'm out of debt I will be taking a celebratory trip to Disney World!

 

[Kachina]

Definitely make time/set aside money for fun, whether it be a vacation or whatever. You don't want any regrets later in life.

DH was diagnosed with cancer last year, and it made us really think about where we were headed. We never took many vacations because it was just easier to stay home. From here on out, at least one vacation a year, doctor's orders. We're going to alternate with Disney and Hawaii, our second love. We know how to save money on trips now, so we won't be adding much if anything to debt. We're scheduled to be debt free by next summer with the rate I'm paying things down, and completely debt free (mortgage and all) by 2024. We're considering buying a small motor home in the next few years, too. B+, if it matters. It's just the 2 of us and I like that style. But that'll be cash, if at all. Gives us incentive to see what we can do.

Sorry for rambling. Brain jazzed on coffee.

 

[yupikgal]

Definitely make time/set aside money for fun, whether it be a vacation or whatever. You don't want any regrets later in life.

DH was diagnosed with cancer last year, and it made us really think about where we were headed. We never took many vacations because it was just easier to stay home. From here on out, at least one vacation a year, doctor's orders. We're going to alternate with Disney and Hawaii, our second love. We know how to save money on trips now, so we won't be adding much if anything to debt. We're scheduled to be debt free by next summer with the rate I'm paying things down, and completely debt free (mortgage and all) by 2024. We're considering buying a small motor home in the next few years, too. B+, if it matters. It's just the 2 of us and I like that style. But that'll be cash, if at all. Gives us incentive to see what we can do.

Sorry for rambling. Brain jazzed on coffee.

Sorry to hear about your DH. That cancer is an awful thing. I'm glad you have decided to plan for vacations, it's always so much fun, and it will be a nice distraction for you. Congrats on paying down your debt! There is so much going on for us right now, in the process of preparing our house for sale (although we are living somewhere else right now and paying rent, that's part of the reason we are selling our home) it won't be on the market until summer, but nonetheless it has to go. I'm really having a hard time with the thought though, because our grown kids have been living there, and they have a couple of dogs, and I just want to make sure they have a good safe place to live once we sell our house. It's just hard to juggle a mortgage and rent where we live now, you know? Anyway, we are slowly paying our debt down, husband retires in 7 years, so I want everything paid off! Our goal is a bit longer, and since we live in a rural area with harsh weather at times, we will need to get out every so often and play. My goal is to have everything paid off by 2016 but we'll see. Sometimes life gets in the way! I'm just happy that we have the leftover to be able to pay down more now that we have new higher paying jobs. Thanks for listening & keep doing what you are doing!! Great job!!

 

[GAGirlInVA]

I am so eager to get this adoption loan paid off (from our failed adoption in 2011.)

I want to be able to delete that line in our budget soooooooooo badly and update our spreadsheets!

It can be done with one swoop when we get our tax refund.

 

[gracie1]

I am so eager to get this adoption loan paid off (from our failed adoption in 2011.) I want to be able to delete that line in our budget soooooooooo badly and update our spreadsheets! It can be done with one swoop when we get our tax refund.

You have to post after you get your refund and make that last payment! I know your excited!!!!

 

[gracie1]

Sorry to hear about your DH. That cancer is an awful thing. I'm glad you have decided to plan for vacations, it's always so much fun, and it will be a nice distraction for you. Congrats on paying down your debt! There is so much going on for us right now, in the process of preparing our house for sale (although we are living somewhere else right now and paying rent, that's part of the reason we are selling our home) it won't be on the market until summer, but nonetheless it has to go. I'm really having a hard time with the thought though, because our grown kids have been living there, and they have a couple of dogs, and I just want to make sure they have a good safe place to live once we sell our house. It's just hard to juggle a mortgage and rent where we live now, you know? Anyway, we are slowly paying our debt down, husband retires in 7 years, so I want everything paid off! Our goal is a bit longer, and since we live in a rural area with harsh weather at times, we will need to get out every so often and play. My goal is to have everything paid off by 2016 but we'll see. Sometimes life gets in the way! I'm just happy that we have the leftover to be able to pay down more now that we have new higher paying jobs. Thanks for listening & keep doing what you are doing!! Great job!!

That is a great goal! Hoping that you don't have too many unexpected costs!!

I was hit yet again today with a big unexpected cost. I am getting so tired of them!!!

 

[momtosam]

Murphy hit last night, but it could have been a lot worse. Our furnace broke last night -- no heat and less than 10 degrees outside We got the kids to safety at our inlaws and we were okay with our fireplace, but now come the repair. Thankfully the needed part is only about $150. Unbudgeted, but could have been A LOT worse. DH is able to do the repair himself, so that helps a ton, too! Heats back on now, but we'll be skipping dinner out this weekend. It's okay -- priorities

 

[Sew into Disney]

I don't think I have ever been this excited about car insurance. I got my renewal letter yesterday and my rates dropped. They dropped $117 for the next 6 month period. That is $19.50 a month that I can apply to savings. Oh maybe I should apply it to the student loans.

 

[OhMari]

I think this will be the last family vacation for a while. DS17 is off to college in the fall, I have 2 going into HS in the next 2 years with 3 seasons of sports and summer conditioning, and DD is up to her eyeballs in Dance and she starts pole vaulting next year.
I also turned 40 this year and decided this race was my big "only for me" moment, when I registered for the race I didn't know that kids would have that week off so it was just supposed to be me going.
I'm bringing DS13's little canon for pics. I run a 14 minute mile so not a ton of wiggle room but I hope to at least get shots of the mile markers and characters as I run by. I doubt I will stop for pics.

Thanks for the well wishes everyone! I'm so nervous but so excited!

Have fun, I. Will be down at WDW, but we are leaving Friday afternoon.

I did our taxes today. I'm bummed because our return is way smaller than it was last year It will be enough to pad our savings account a little and pay off our tiniest credit card balance, so it's going to help but man how I wish it was more

. I see your son is 17, you loose him as a child tax credit. The government says you are not an adult till you are 18, but they cut that child credit off at 17.

 

[BernardandMissBianca]

Have fun, I. Will be down at WDW, but we are leaving Friday afternoon.

There is a big WISH meet Saturday the 22nd at 5pm at Earl of Sandwich.

 

[PrincessKymm]

Anyone else just want to crawl into a corner and sob uncontrollably? Ever think it's just not worth it? I've seen my son 4.8 hours the last 4 days because I've been killing myself at work trying to prove that I'm worth the promotion they are giving me. Is it worth the extra $$? Right now i don't know. I can't keep up. I'm working so much I can't sleep when I finally have time to and my house is a wreck because I have no energy to clean or even cook.

Please tell me it will be worth it in the end. I'll pay off my car and the $300 payment will go away (really towards student loans instead) and it will all be worth it right?

 

[gracie1]

Anyone else just want to crawl into a corner and sob uncontrollably? Ever think it's just not worth it? I've seen my son 4.8 hours the last 4 days because I've been killing myself at work trying to prove that I'm worth the promotion they are giving me. Is it worth the extra $$? Right now i don't know. I can't keep up. I'm working so much I can't sleep when I finally have time to and my house is a wreck because I have no energy to clean or even cook. Please tell me it will be worth it in the end. I'll pay off my car and the $300 payment will go away (really towards student loans instead) and it will all be worth it right?

Hugs!! Only you can decide if this promotion is worth it. For two years I went through the process of trying to prove myself for a promotion. I was working 80 plus hours a week with only 40 hours a week pay. Right before my final interview, I withdrew my application and stayed in my position. I lost out on a big raise, but I am so much happier! Only you can decide princess!

 

[gracie1]

I don't think I have ever been this excited about car insurance. I got my renewal letter yesterday and my rates dropped. They dropped $117 for the next 6 month period. That is $19.50 a month that I can apply to savings. Oh maybe I should apply it to the student loans.

Nice savings! Did you do anything special like reduce your coverage? Or did your insurance company drop the rates on their own?

 

[Deffenm]

Anyone else just want to crawl into a corner and sob uncontrollably? Ever think it's just not worth it? I've seen my son 4.8 hours the last 4 days because I've been killing myself at work trying to prove that I'm worth the promotion they are giving me. Is it worth the extra $$? Right now i don't know. I can't keep up. I'm working so much I can't sleep when I finally have time to and my house is a wreck because I have no energy to clean or even cook.

Please tell me it will be worth it in the end. I'll pay off my car and the $300 payment will go away (really towards student loans instead) and it will all be worth it right?

I know how you feel. I actually was in this same position last year and after 6 years of working my butt off and missing out on so much with my family I made the decision to actually take a step down. Luckily, I was able to keep my pay the same but I am in a "lower" position so I will not get a raise until I go back up a position. My kids are 10, 14, and 13. I did not want to keep missing out on their games, school activities, and watching them grow up. Yes it will take longer for us to pay off the debt but I am much happier and so is my family. I was no good being stressed and tired all the time. It is a decision only you can make. Best of luck to you!