Debt Dumpers - 2014

[dayvewc]

I agree. My hubby and I compliment each other. I'm the planner and worrier while he is more the impulsive and free spirit. Most times this makes for a great partnership, he helps make sure I don't get bogged down in worry and I make sure that we can take the trips we want and stuff like that.

He pays his half of bills, whatever the minimum due is and then is (to my way of thinking) very free with the rest. I look at his income/bills and see where I would/could be making more payments. It's the biggest reason why we don't have a joint account, we just see that part differently. We don't want to fight and so this way works.

Show your S/O what you are saving by doing things like that and give them some things (that they like) that they money could go toward. Maybe they will jump onboard or they might be like my hubby. If so split it up, do what you do and try not to worry. For us planners that last part is the hardest.

Yeah. I hear ya. Part of the issue is S/O doesn't make much at all. Not actually enough to pay half the bills. So, I get "paid" an amount from his check each week to pay for everything, and the rest is "free" money to do what he wants. My gripe the last couple of weeks has been that I "took" less than normal so he could pay his insurance. He bought me a valentine card and candy. Really sweet, but then the next week he kept "extra" to pay his insurance, and he bought some snacks and ate out for lunch. So then last week, he kept almost his entire check and finally paid his health insurance, dental insurance AND his cell-phone bill. Then was dependent on me to buy smokes all week long. I know we can both do better, and I find it really touching that he got stuff for me, but I know he loves me already - we need to pay stuff off, not buy more chocolate.

 

[gracie1]

Yeah. I hear ya. Part of the issue is S/O doesn't make much at all. Not actually enough to pay half the bills. So, I get "paid" an amount from his check each week to pay for everything, and the rest is "free" money to do what he wants. My gripe the last couple of weeks has been that I "took" less than normal so he could pay his insurance. He bought me a valentine card and candy. Really sweet, but then the next week he kept "extra" to pay his insurance, and he bought some snacks and ate out for lunch. So then last week, he kept almost his entire check and finally paid his health insurance, dental insurance AND his cell-phone bill. Then was dependent on me to buy smokes all week long. I know we can both do better, and I find it really touching that he got stuff for me, but I know he loves me already - we need to pay stuff off, not buy more chocolate.

What would he do if you didn't have any extra money to give him?

 

[dayvewc]

What would he do if you didn't have any extra money to give him?

I'm really not sure.

 

[zy144622]

This girl is smiling ending the week with almost 7 hours of OT

 

[OhMari]

We had to pay in to the Federal government this year. Luckily we got some back from state, so I have been putting $77 a week since January towards this bill. I finally had enough to pay it off. I decided to mail it in, instead of waiting till April 15th.

I adjusted my pay at work and handed in a new W4 form, so an extra $35 is taken off my check on top of claiming 0 exemptions. We have 4 kids, and we could no longer claim our youngest, since she graduated college and now works full time.

I hate taxes, plus Wisconsin is the 3rd highest state for income tax, sales tax, property taxes, county taxes and lets not forget The Green Bay Packers tax.

 

[aliceindisneyland]

I know everyone budgets differently and I'm trying to find a way that works because what I'm doing isn't working.

I like YNAB but it's just not for me, something just doesn't click in my mind and I always have issues trying to watch their how to videos.

I'm thinking about living off a set amount each week and then whatever is left over goes into a separate envelope for whatever I need it for. Does anyone else do this? Does it work? I'll mostly use cash but I'll keep my debit card on me for the gas pump and only the gas pump.

Everything else will be budgeted and separated into 2 accounts. My everyday checking "bills" account and then my capital one 360 account "savings" which can then be broken down by category, like Christmas, EF, vacation, Etc.

Any advice? Thoughts? Thanks!

Your plan is exactly what YNAB does without the work! I didn't get how YNAB could be so great either, but I went ahead and signed up this week for the free trial. I plugged in all of my budget categories right away...and was $2500 in the hole! Then I listened to the intro podcast and realized I had totally done it wrong - you're only supposed to budget the money you have NOW. So no finding old receipts and statements, and no forecasting [pie in the sky budget dreams]. It took me 10 min to set everything up wrong, 1 hr to listen to the podcast, and 5 min to change my categories to reflect the $ I have right now. The budget experience moved instantly from stress to peace - for example, knowing I had budgeted just $80 in groceries until next payday got my wheels turning on what I could use up in the house and fill in with as few trips to the grocery store as possible, instead of plugging in an arbitrary $500 grocery budget without knowing if that's anywhere near my typical spending and living with the persistent worry that I'm way off.
I have multiple accounts with Cap 1 360 and they mesh perfectly with the YNAB system. OK, that's it for my commercial!

 

[pryncess527]

It may not work well for anyone else, but it works for me. I'm probably not making as much headway as an "official" program would, but I'm definitely not losing ground anymore. (Now, if I could just get S/O more involved ...)

I'm glad you've found something that works for you! Though I'll add one benefit to an "official" program might be ease of getting S/O on board. My H's eyes would glaze over when I talked about the budget, but now that he can check the categories with his iPhone app and record his spending, he's getting SO much better about actually thinking about purchases first. He even has a "Gifts for Wife" category and if there is no money in there, he can't buy me roses and chocolate ;p

I hate taxes, plus Wisconsin is the 3rd highest state for income tax, sales tax, property taxes, county taxes and lets not forget The Green Bay Packers tax.

The Green Bay Packers tax? Ouch!

I had a moment of weakness this weekend, or more like 3 moments of weakness, and we dined out more than we should have. Now we have no money in the Restaurant category for the rest of the month, so I really have to cook! I'm trying to put together a meal plan for the rest of the month to help me stay on track.

 

[aliceindisneyland]

Woohoo! I just paid off my car loan 6 months early! Now both cars are mine all mine and we have $402 a month freed up to help us knock out debt!

 

[AirGoofy]

Woohoo! I just paid off my car loan 6 months early! Now both cars are mine all mine and we have $402 a month freed up to help us knock out debt!

Congrats.

 

[PrincessKymm]

Woohoo! I just paid off my car loan 6 months early! Now both cars are mine all mine and we have $402 a month freed up to help us knock out debt!

Whoo hoo!! Congrats!!!

 

[Holly Quinlan]

Woohoo! I just paid off my car loan 6 months early! Now both cars are mine all mine and we have $402 a month freed up to help us knock out debt!

 

[xCourxCorex]

Woohoo! I just paid off my car loan 6 months early! Now both cars are mine all mine and we have $402 a month freed up to help us knock out debt!

Nice!! Such a great feeling, isn't it?

 

[zy144622]

Woohoo! I just paid off my car loan 6 months early! Now both cars are mine all mine and we have $402 a month freed up to help us knock out debt!

Great work!

 

[yaddakal]

So we have 151 days until cruise. I read so many success stories on here... And that's great But I wonder if anyone is in our situation...
Is anyone still trying to pay off cruise, unexpectantly owing taxes and still determined to go? Our kids are 8-10 so
In order to have them in same club ( they are inseparable ) this is the year and with our son ..summer really is the better choice...
Anyone else cutting grocery budget and doing everything they can to pay this off while possibly putting some
Other debt on hold
Until this is paid mid may?
Starting to feel
Alone.. Ty

 

[ruadisneyfan2]

So we have 151 days until cruise. I read so many success stories on here... And that's great But I wonder if anyone is in our situation...
Is anyone still trying to pay off cruise, unexpectantly owing taxes and still determined to go? Our kids are 8-10 so
In order to have them in same club ( they are inseparable ) this is the year and with our son ..summer really is the better choice...
Anyone else cutting grocery budget and doing everything they can to pay this off while possibly putting some
Other debt on hold
Until this is paid mid may?
Starting to feel
Alone.. Ty

I'm a cruise junkie and though we didn't owe taxes, I still really needed a getaway and just returned yesterday from sailing on the Magic.
To keep costs as low as possible, we kept it short: only a 3-nighter and we always book onboard for the 10% off + OBC from DCL. Also my TA matches that so it gives us $200 spending $ onboard. It covers our gratuities and then some. We didn't do any excursions and stayed onboard on the Nassau day. At Castaway Cay we spent $18 on kayaking and $30 in souvenirs. We still had $40-something in OBCs leftover so I bought a Disney gift card so none goes to waste.
I understand summer is better but it's so much cheaper during the school year. It was just me & ds13 this time; dh & ds17 want a break from traveling. Ds13 is in 8th grade, missed 3 days (which turned out to be 2.5 due to yesterday's snow) and still his teachers wished us a happy trip. Last Friday was originally scheduled as a day off but was changed to a snow make up day. JMHO, but I wouldn't hesitate to pull kids out of school for 8-10 yr olds. Summer is triple the price and though I did pay those ridiculous prices for 7-night cruises in 2013 & 2012 with ds17 in HS, for a short cruise with no HS stress, we were ok with ds13 missing a couple days. It only gets harder to miss as they get older.
Again, JMHO but a 3-nt is great for a winter escape/DCL fix but if this is going to be your big trip for the year or your first DCL cruise I would find an off peak time and do at least 4-nights. A 3 nt is really 2.5 days and goes by in a blink. Having that 1 extra day at sea is sooo nice!

 

[aliceindisneyland]

So we have 151 days until cruise. I read so many success stories on here... And that's great But I wonder if anyone is in our situation...
Is anyone still trying to pay off cruise, unexpectantly owing taxes and still determined to go? Our kids are 8-10 so
In order to have them in same club ( they are inseparable ) this is the year and with our son ..summer really is the better choice...
Anyone else cutting grocery budget and doing everything they can to pay this off while possibly putting some
Other debt on hold
Until this is paid mid may?
Starting to feel
Alone.. Ty

I would totally do this! It sounds like it is the perfect time for you, and if the dealbreaker is having to put the kids in different clubs, there's your answer. There was a time when we went about 2 yrs without any fun at all and I started to feel icky if I even bought a pack of gum, but the hardnosed effort definitely served its purpose. That was when my oldest was a baby/toddler, so he didn't know we didn't go out! When he was 2 we took a budget trip to the San Diego Zoo and stayed at the Sheraton and I decided then that I'd make vacation a priority as my son (and now DD) grew up, and I *made* it happen!
How much do you need to have before your trip? Can you do it and still pay the regular bills but not put extra toward your debts this spring? You'll probably only pay a small amount in extra interest by putting your debt payoff efforts on temporary hold.
Sell stuff! Everyone has things they can unload on craigslist or facebook (or ebay, but I'm paranoid about getting taxed now on that so I don't use them much anymore.)
Make it "soup and sandwich" night 2 nights a week in with the cruise as the goal - or any cheap meal. Make weekends "clean out the fridge/pantry/freezer" nights.
Commit to eating only at home if you normally hit fast food or restaurants in a pinch.
If you drink alcohol/smoke, use up the booze already in the house and stop smoking. It's so hard!
Use up old toiletries from previous trips - you could probably get away without buying shampoo, conditioner, body wash if you have oodles of minis from hotels like I do. If you coupon to stockpile, use up your stockpile, and only get deals at the drugstores if they pay you to take them home - I won't even pay sales tax or .10 for something I don't use/need.
Limit driving as best you can - or drive slow and steady to conserve gas, wash your own car (I've never lived anywhere cold though so don't know if that's possible), find an oil change place with a deal instead of paying more for a quick drive through, etc.
If you get your hair/nails/whatever done, look at the calendar for when you would want to get it done right before the cruise, and work backward to now, spacing out your appointments as much as possible - or maybe even going without until right before the trip.
Temporarily lower your cable plan and go on a walk each night instead. I know Dish network and ATT will do this for sure at no charge; if you really need a better package you can simply upgrade again after the trip. I can't ever get DH to agree to totally suspend cable, but I know that you can do that for several months - Dish charges just $5 a month to suspend your account (your contract date will get pushed up though to reflect the suspended months).
If you go to the movies, pick the one you absolutely have to see in theatres before your trip - and wait for the rest to come up eventually on Redbox.
Find a bank offer with a great signup bonus and jump through the hoops to get it. For instance, Chase sent me a $200 offer to open a checking account. Yep, I'll take it. You can do that with credit cards too (if one has a great offer sign both DH and yourself up for individual cards so you get 2 bonuses) - but that's if you're willing to affect your credit score.
You might already do these things, but it's always surprising to me how much money I can magically find in the "couch cushions" of my spending habits when I have a goal I'm set on hitting - and a Disney cruise this summer sounds like a great goal to me!

 

[ski_mom]

I would totally do this! It sounds like it is the perfect time for you, and if the dealbreaker is having to put the kids in different clubs, there's your answer. There was a time when we went about 2 yrs without any fun at all and I started to feel icky if I even bought a pack of gum, but the hardnosed effort definitely served its purpose. That was when my oldest was a baby/toddler, so he didn't know we didn't go out! When he was 2 we took a budget trip to the San Diego Zoo and stayed at the Sheraton and I decided then that I'd make vacation a priority as my son (and now DD) grew up, and I *made* it happen!
How much do you need to have before your trip? Can you do it and still pay the regular bills but not put extra toward your debts this spring? You'll probably only pay a small amount in extra interest by putting your debt payoff efforts on temporary hold.
Sell stuff! Everyone has things they can unload on craigslist or facebook (or ebay, but I'm paranoid about getting taxed now on that so I don't use them much anymore.)Make it "soup and sandwich" night 2 nights a week in with the cruise as the goal - or any cheap meal. Make weekends "clean out the fridge/pantry/freezer" nights.
Commit to eating only at home if you normally hit fast food or restaurants in a pinch.
If you drink alcohol/smoke, use up the booze already in the house and stop smoking. It's so hard!
Use up old toiletries from previous trips - you could probably get away without buying shampoo, conditioner, body wash if you have oodles of minis from hotels like I do. If you coupon to stockpile, use up your stockpile, and only get deals at the drugstores if they pay you to take them home - I won't even pay sales tax or .10 for something I don't use/need.
Limit driving as best you can - or drive slow and steady to conserve gas, wash your own car (I've never lived anywhere cold though so don't know if that's possible), find an oil change place with a deal instead of paying more for a quick drive through, etc.
If you get your hair/nails/whatever done, look at the calendar for when you would want to get it done right before the cruise, and work backward to now, spacing out your appointments as much as possible - or maybe even going without until right before the trip.
Temporarily lower your cable plan and go on a walk each night instead. I know Dish network and ATT will do this for sure at no charge; if you really need a better package you can simply upgrade again after the trip. I can't ever get DH to agree to totally suspend cable, but I know that you can do that for several months - Dish charges just $5 a month to suspend your account (your contract date will get pushed up though to reflect the suspended months).
If you go to the movies, pick the one you absolutely have to see in theatres before your trip - and wait for the rest to come up eventually on Redbox.
Find a bank offer with a great signup bonus and jump through the hoops to get it. For instance, Chase sent me a $200 offer to open a checking account. Yep, I'll take it. You can do that with credit cards too (if one has a great offer sign both DH and yourself up for individual cards so you get 2 bonuses) - but that's if you're willing to affect your credit score.
You might already do these things, but it's always surprising to me how much money I can magically find in the "couch cushions" of my spending habits when I have a goal I'm set on hitting - and a Disney cruise this summer sounds like a great goal to me!

You gave some great ideas here!

I'm curious if something's changed with ebay sales? I know you're supposed to pay taxes on any earnings from selling things on ebay, but are they tracking it more closely now?

 

[pryncess527]

Woohoo! I just paid off my car loan 6 months early! Now both cars are mine all mine and we have $402 a month freed up to help us knock out debt!

Congrats! $402 makes a nice sized snowball to throw at some debt

So we have 151 days until cruise. I read so many success stories on here... And that's great But I wonder if anyone is in our situation...
Is anyone still trying to pay off cruise, unexpectantly owing taxes and still determined to go? Our kids are 8-10 so
In order to have them in same club ( they are inseparable ) this is the year and with our son ..summer really is the better choice...
Anyone else cutting grocery budget and doing everything they can to pay this off while possibly putting some
Other debt on hold
Until this is paid mid may?
Starting to feel
Alone.. Ty

I'd probably make a similar choice if I had children that age. I was about 10 when we went on our family Disney cruise, it was such a wonderful vacation.
AliceinDisneyLand has some great suggestions for cutting things further, good luck!

 

[*3*Mouseketeers]

Woohoo! I just paid off my car loan 6 months early! Now both cars are mine all mine and we have $402 a month freed up to help us knock out debt!

But under no circumstances EVER tell your car that it is paid off. Bad things happen when the car hears that it is paid for.

 

[Eureka]

But under no circumstances EVER tell your car that it is paid off. Bad things happen when the car hears that it is paid for.

This made me laugh. In December 2012 I must have cheered too loud when paying off our minivan because three weeks later our other car died and we had to buy a new one and make payments again.

But congrats to OP!