Debt Dumpers - 2015

[dayvewc]

I think they should do research on careers, what that pays regionally, then figure out how much it will cost for the schooling depending on where they want to go. Especially in state vs out of state vs Harvard, or on campus, off campus or home with the parents. We hear too many people say they're going to be Drs or lawyers (great professions)but never realize the years & costs it takes to accomplish that goal- it good to know this up front. So many freshman premeds, not so many senior premeds. Or psych or sociology majors that dont initially realize there's not many job options at the bachelors level, so they should get a social work degree as most states require a social work degree for a license ( I have a cousin a yr younger who got her degree in sociology, I told her over & over to do the social work instead, she was adamant on sociology, once she graduated she was so mad she couldn't get a license even though I told her & mad she couldn't get a job. After various off the wall type of jobs, she's finally working in the same hospital system as me with a random job doing seat belt & car seat education with me making almost 2x as much with both of us having a bachelors degree from the same university). In that same vein the costs of student loans, grants, & work study money. It also opens up for realistic conversation with their parents if they're able/willing to help....

You need more than 150hours, at least 150 days!!!!!

Most of the college and career planning is supposed to occur within the context of the CAP class. I don't know exactly how much is done - it's a new process this year. We are all still learning the program.

I got tasked with the financial part because I mentioned that I thought it would be a good idea to have a 9-week or semester class that covered those skills. I was told that it would not be added to the curriculum, but that the information could be used in the CAP classes, only keep the lesson to a week or less. I'm having a hard time covering everything that I think they should be aware of in that amount of time, and that would be be with the teacher simply handing out all the information and not actually going over it with them.

 

[Dentam]

My parents never talked money with us either. I think it's great that some schools are requiring this!

 

[stayhomemom77]

I'm back to talk about my latest obsession!! But first, a little background:

As you may remember, DH gets paid once a month. I have a budget done in a spreadsheet that lists all expenses that need to come out of that pay. Many of our monthly bills are automatically charged to our bank account or the credit card. I have a second list that I update in real time...cause the anticipated budget is NEVER the same as the actual budget. It tracks all the items as money is spent, so I know what's left in each category.

Anyway, the fixed expenses don't get much attention from me. But I tend to play with the variables quite a bit, trying to find that sweet spot!

Food, gasoline, WAM (Walking Around Money otherwise know as cash withdrawals), Family Fun Money and Slush Money (clothes, furnace filter, printer ink, etc...basically all the MISC irregular expenses) and based on the outcomes of the last three months, I think we've got a good thing going.

So, now I'm doing this new thing and so far it's working out great! I'm sharing it here in case anyone thinks they might wish to try it on their own finances.

I basically just skim money off the top and hold it in a different line in the budget. It's available if I need it, but basically FREE MONEY if I don't! And it is genius if I do say so myself.

For example:

The WAM budget is set at $100 a month. I used to withdraw the entire amount on payday, stick a $20 in my wallet and put the rest in a jar to be portioned out each Friday throughout the month. This system worked fine. All leftover cash went to the vacation jar and it was adding up in there quite nicely.

But NOW, I only take out half the cash. And I go inside the bank to a teller and NOT to the drive thru ATM, so that I can get $10 bills. Now I put a $10 in my wallet each Friday (although it will switch to Mondays in January when that becomes my errand day) and replenish weekly as before only with half as much money. If I need more, there is more in the bank to be withdrawn. But it's funny how desperately unwilling I am to pull any more cash out unless it's an absolute necessity. I hope to continue this going forward. Because the vacation account is REALLY going to like receiving $50 a month that it wouldn't have otherwise.

Groceries and gasoline follow a similar pattern although I didn't slash the budget for those in half. That would be a disaster.

I lift about 1/3 of the gas money off the top and about 10% of the grocery money, although I am going to try and get that to 15% or even 20% now that my freezer is approaching fullness.

Again, the money is there if needed, but if we get to the end of the month before the money is gone, it's more FREE cash for...whatever we want!!

Do you have any sneaky ways to force yourself to spend less??

 

[Eureka]

I'm back to talk about my latest obsession!! But first, a little background:

As you may remember, DH gets paid once a month. I have a budget done in a spreadsheet that lists all expenses that need to come out of that pay. Many of our monthly bills are automatically charged to our bank account or the credit card. I have a second list that I update in real time...cause the anticipated budget is NEVER the same as the actual budget. It tracks all the items as money is spent, so I know what's left in each category.

Anyway, the fixed expenses don't get much attention from me. But I tend to play with the variables quite a bit, trying to find that sweet spot!

Food, gasoline, WAM (Walking Around Money otherwise know as cash withdrawals), Family Fun Money and Slush Money (clothes, furnace filter, printer ink, etc...basically all the MISC irregular expenses) and based on the outcomes of the last three months, I think we've got a good thing going.

So, now I'm doing this new thing and so far it's working out great! I'm sharing it here in case anyone thinks they might wish to try it on their own finances.

I basically just skim money off the top and hold it in a different line in the budget. It's available if I need it, but basically FREE MONEY if I don't! And it is genius if I do say so myself.

For example:

The WAM budget is set at $100 a month. I used to withdraw the entire amount on payday, stick a $20 in my wallet and put the rest in a jar to be portioned out each Friday throughout the month. This system worked fine. All leftover cash went to the vacation jar and it was adding up in there quite nicely.

But NOW, I only take out half the cash. And I go inside the bank to a teller and NOT to the drive thru ATM, so that I can get $10 bills. Now I put a $10 in my wallet each Friday (although it will switch to Mondays in January when that becomes my errand day) and replenish weekly as before only with half as much money. If I need more, there is more in the bank to be withdrawn. But it's funny how desperately unwilling I am to pull any more cash out unless it's an absolute necessity. I hope to continue this going forward. Because the vacation account is REALLY going to like receiving $50 a month that it wouldn't have otherwise.

Groceries and gasoline follow a similar pattern although I didn't slash the budget for those in half. That would be a disaster.

I lift about 1/3 of the gas money off the top and about 10% of the grocery money, although I am going to try and get that to 15% or even 20% now that my freezer is approaching fullness.

Again, the money is there if needed, but if we get to the end of the month before the money is gone, it's more FREE cash for...whatever we want!!

Do you have any sneaky ways to force yourself to spend less??

I do this too. Every week I take $50 off the top and "hide" it in a "MISC" fund at the very top of my ledger (on the computer). We usually end up using it on something that's bigger than we anticipated, like a car repair or medical bill.

 

[Angeejoe]

I'm back to talk about my latest obsession!! But first, a little background:

As you may remember, DH gets paid once a month. I have a budget done in a spreadsheet that lists all expenses that need to come out of that pay. Many of our monthly bills are automatically charged to our bank account or the credit card. I have a second list that I update in real time...cause the anticipated budget is NEVER the same as the actual budget. It tracks all the items as money is spent, so I know what's left in each category.

Anyway, the fixed expenses don't get much attention from me. But I tend to play with the variables quite a bit, trying to find that sweet spot!

Food, gasoline, WAM (Walking Around Money otherwise know as cash withdrawals), Family Fun Money and Slush Money (clothes, furnace filter, printer ink, etc...basically all the MISC irregular expenses) and based on the outcomes of the last three months, I think we've got a good thing going.

So, now I'm doing this new thing and so far it's working out great! I'm sharing it here in case anyone thinks they might wish to try it on their own finances.

I basically just skim money off the top and hold it in a different line in the budget. It's available if I need it, but basically FREE MONEY if I don't! And it is genius if I do say so myself.

For example:

The WAM budget is set at $100 a month. I used to withdraw the entire amount on payday, stick a $20 in my wallet and put the rest in a jar to be portioned out each Friday throughout the month. This system worked fine. All leftover cash went to the vacation jar and it was adding up in there quite nicely.

But NOW, I only take out half the cash. And I go inside the bank to a teller and NOT to the drive thru ATM, so that I can get $10 bills. Now I put a $10 in my wallet each Friday (although it will switch to Mondays in January when that becomes my errand day) and replenish weekly as before only with half as much money. If I need more, there is more in the bank to be withdrawn. But it's funny how desperately unwilling I am to pull any more cash out unless it's an absolute necessity. I hope to continue this going forward. Because the vacation account is REALLY going to like receiving $50 a month that it wouldn't have otherwise.

Groceries and gasoline follow a similar pattern although I didn't slash the budget for those in half. That would be a disaster.

I lift about 1/3 of the gas money off the top and about 10% of the grocery money, although I am going to try and get that to 15% or even 20% now that my freezer is approaching fullness.

Again, the money is there if needed, but if we get to the end of the month before the money is gone, it's more FREE cash for...whatever we want!!

Do you have any sneaky ways to force yourself to spend less??

I use a calculator in the store as I shop with my list & coupons. This is something my mom had always done. It keeps me on track knowing exactly how much I spent & how much is left on my list. I have a big trapper keeper with with plastic baseball sleeves divided into areas in the store. I then keep a clip board that slides in the front outside pocket where I keep my list & coupons, I have my calculator taped to the clipboard so it sits up high.

 

[Dentam]

So, today was payday and we got holiday bonuses. 1k! After taxes it ended up being about 820. Woohoo! I had to replace my laptop a couple of weeks ago and my dog just got spayed yesterday so this will help pay off those expenses!

 

[Angeejoe]

So, today was payday and we got holiday bonuses. 1k! After taxes it ended up being about 820. Woohoo! I had to replace my laptop a couple of weeks ago and my dog just got spayed yesterday so this will help pay off those expenses!

Well that is great news!!! I'm jealous, I work for a non profit hospital, so no holidays bonuses for us, we got a bag with the name of our hospital system as a holiday gift. I'd rather have 1k.... Lol

Isn't today the payoff day too? What a great day you're having!

 

[gracie1]

So, today was payday and we got holiday bonuses. 1k! After taxes it ended up being about 820. Woohoo! I had to replace my laptop a couple of weeks ago and my dog just got spayed yesterday so this will help pay off those expenses!

That is great news on the 1k!!! Love getting unexpected money!!!! Although it rarely happens for me lol

 

[dayvewc]

Ok, so this is just a personal woo-hoo. But, I was balancing my checkbook program, and realized that while there are still 3 Thursdays left in the year, I am actually on track to have completed the 53 week saving challenge. Granted, there were a couple of times over the year that I had to borrow money from the account, but I always managed to pay it back, so I'm feeling pleased with myself.

Though I am a bit sad, the purpose of the account was to 1) work on being able to save money, and 2) save enough to pay for my TS maintenance fees. So, in the next couple of weeks I will pretty much wipe out the total in it. But I managed to do it this year. Next year should be easier to do!!

 

[stayhomemom77]

Ok, so this is just a personal woo-hoo. But, I was balancing my checkbook program, and realized that while there are still 3 Thursdays left in the year, I am actually on track to have completed the 53 week saving challenge. Granted, there were a couple of times over the year that I had to borrow money from the account, but I always managed to pay it back, so I'm feeling pleased with myself.

Though I am a bit sad, the purpose of the account was to 1) work on being able to save money, and 2) save enough to pay for my TS maintenance fees. So, in the next couple of weeks I will pretty much wipe out the total in it. But I managed to do it this year. Next year should be easier to do!!

Woo hoo!!

 

[Dentam]

Well that is great news!!! I'm jealous, I work for a non profit hospital, so no holidays bonuses for us, we got a bag with the name of our hospital system as a holiday gift. I'd rather have 1k.... Lol

My first couple of years we got a smaller bonus (but this is the first place I've worked that gives bonuses at all so I was happy) and then last year and this year the bonuses were more. It all depends on how the company does financially.

Isn't today the payoff day too? What a great day you're having!

Yep! It felt good to see that payment go through today!

That is great news on the 1k!!! Love getting unexpected money!!!! Although it rarely happens for me lol

It only happens once a year for me and this is the first place I've worked that gives bonuses. My last job we got stuff more like what Angee described.

 

[Angeejoe]

My first couple of years we got a smaller bonus (but this is the first place I've worked that gives bonuses at all so I was happy) and then last year and this year the bonuses were more. It all depends on how the company does financially.



Yep! It felt good to see that payment go through today!



It only happens once a year for me and this is the first place I've worked that gives bonuses. My last job we got stuff more like what Angee described.

 

[momtosam]

So, today was payday and we got holiday bonuses. 1k! After taxes it ended up being about 820. Woohoo! I had to replace my laptop a couple of weeks ago and my dog just got spayed yesterday so this will help pay off those expenses!

Wow! Congrats!!

We get a fruit tray in the break room, but I guess it's the thought that counts...

 

[Dentam]

We get a fruit tray in the break room, but I guess it's the thought that counts...

Lol! I've worked at a couple of places where we didn't even get that. This is the best job I've had for sure. Our bonuses do vary based on how the company does each year. I guess back in 2008/09 it was rough and the bonuses were more like $50-$100.

 

[dayvewc]

Yeah, I've worked at lots of places that didn't do Christmas bonuses. This year, we aren't getting one because they are going to use the money instead to try to file for retention bonuses through the state. IF we qualify for the incentive from the state, the district still has to pay the taxes, so the Christmas funds will do that and we will get much larger bonuses in May. If we don't get the incentive bonus, we've been told that we will get the Christmas bonus in March for Spring Break.

This is the first year in several that they haven't done Christmas bonuses. I'm really hoping we get the incentive bonus, because not getting the Christmas bonus now is making this a tighter than normal season.

 

[Eureka]

Murphy strikes again. Took the minivan in for an oil change and it needs tires, brakes and some coolant flush thing. $1500. It's all safety stuff, so needs doing now. Not sure why we keep needing tires on this car, have been buying every two years and they are always saying they're wearing out, even with rotations. We have two more years left paying for the other car (we always do this so we only have one car payment) but at this point not sure it will last that long. It's a 2004, close to 200k miles and we're starting to get to that point where each repair is $$$$. Sigh. I said to DH I'll have to start a car repair fund in addition to all the other funds I have going. Pretty soon, all our paycheck will be one big fund and nothing else!

 

[Dentam]

Murphy strikes again. Took the minivan in for an oil change and it needs tires, brakes and some coolant flush thing. $1500. It's all safety stuff, so needs doing now. Not sure why we keep needing tires on this car, have been buying every two years and they are always saying they're wearing out, even with rotations. We have two more years left paying for the other car (we always do this so we only have one car payment) but at this point not sure it will last that long. It's a 2004, close to 200k miles and we're starting to get to that point where each repair is $$$$. Sigh. I said to DH I'll have to start a car repair fund in addition to all the other funds I have going. Pretty soon, all our paycheck will be one big fund and nothing else!

Do you trust the place you're taking your van for repairs? You can check your tires yourself to see if the tread is too worn. Every two years does seem very frequent to be replacing them. It sounds like maybe it would be better to start a new car fund rather than a car repair fund at this point - 200k miles is quite a lot. Good luck!

 

[Eureka]

Do you trust the place you're taking your van for repairs? You can check your tires yourself to see if the tread is too worn. Every two years does seem very frequent to be replacing them. It sounds like maybe it would be better to start a new car fund rather than a car repair fund at this point - 200k miles is quite a lot. Good luck!

Yes, we do trust them. More than the dealership! Just picked up the car and asked, turns out we did drive the mileage they said it was guaranteed for. This new set we put on is a little better, so should not have this problem again, but he said if we do, they will contact the tire company and see what can be done. You're right about the new car fund....we are not putting any more major money into this car!

 

[stayhomemom77]

Do you trust the place you're taking your van for repairs? You can check your tires yourself to see if the tread is too worn. Every two years does seem very frequent to be replacing them. It sounds like maybe it would be better to start a new car fund rather than a car repair fund at this point - 200k miles is quite a lot. Good luck!

I was just going to ask the same thing. My father in law is the parts manager at the dealership in Windsor and his best friend is the service manager. We always took the car there for trusted service (and the deep discounts!!). Then we moved to B.C. I got in trouble for not going to the dealership out there and had a very bad experience. He was kind when he found out (we drove back in the summer for a visit and they straightened out the mess left behind by the others) but made me promise to use the dealership (wherever we lived) forever after.

When we moved back to Ontario, we took the car in to the local dealership per his request. But they are CROOKS at this one. We only go to them for oil changes. Windsor is only about 450 kms/280 miles from us, so if we need anything else done, we go there. But EVERY single time we take the car in for the oil change here, they have a loooooooong list of problems. And new tires are always on that list. Always. Every nine(ish) months. Whaaaa???

We bring the statement down to the FIL and he just shakes his head. And then they do what actually needs doing at a fraction of the cost. One time when I went in for the oil change, they put down that the wipers and several light bulbs and the air filter needed changing. There WERE a couple of burnt out lights, but the wipers were fine and the air filter we always do ourselves. They are always surprised when I say no to everything. No we do NOT want to pay you $800 for something we can do on our own for less than $100. SHEESH!!

In October they said something about the bushing joints (??) needing replacing and I forget what else. We head down on the 20th for a visit so FIL will get us all squared away on the 21st. Fingers crossed my small fund covers it and I don't have to tap the other savings.

 

[Eureka]

I was just going to ask the same thing. My father in law is the parts manager at the dealership in Windsor and his best friend is the service manager. We always took the car there for trusted service (and the deep discounts!!). Then we moved to B.C. I got in trouble for not going to the dealership out there and had a very bad experience. He was kind when he found out (we drove back in the summer for a visit and they straightened out the mess left behind by the others) but made me promise to use the dealership (wherever we lived) forever after.

When we moved back to Ontario, we took the car in to the local dealership per his request. But they are CROOKS at this one. We only go to them for oil changes. Windsor is only about 450 kms/280 miles from us, so if we need anything else done, we go there. But EVERY single time we take the car in for the oil change here, they have a loooooooong list of problems. And new tires are always on that list. Always. Every nine(ish) months. Whaaaa???

We bring the statement down to the FIL and he just shakes his head. And then they do what actually needs doing at a fraction of the cost. One time when I went in for the oil change, they put down that the wipers and several light bulbs and the air filter needed changing. There WERE a couple of burnt out lights, but the wipers were fine and the air filter we always do ourselves. They are always surprised when I say no to everything. No we do NOT want to pay you $800 for something we can do on our own for less than $100. SHEESH!!

In October they said something about the bushing joints (??) needing replacing and I forget what else. We head down on the 20th for a visit so FIL will get us all squared away on the 21st. Fingers crossed my small fund covers it and I don't have to tap the other savings.

Yes, we have gone to this place for years and they have told us things DIDN'T need doing (and they were right) when the dealership told us stuff was wrong that sounded not quite right. I'm thinking more along the lines of there is something wrong with the alignment that's been causing tire issues, even though we've had alignments done before.