Debt Dumpers - 2015

[Angeejoe]

We've been having an influx of increased monthly expenses lately. The cable goes up soon and I've called, it's the best rate there is for the package we want. (I've tried to cut back and my family did not like it). DS just made the team for a travel sport and there's another monthly fee through February. I've been paying monthly (no interest) on a PT bill that has a few more months left. DH and I booked a weekend away, just the two of us, so I've started stashing away for that. Plus I just got my first-ever speeding ticket in the mail. Sigh.

It's all fine, but just means we've had to readjust our (really my) expectations for using our short term savings for some of these bigger things. Or more accurately, calling it a "planned spending" account instead. So what I've been continuing to do is try to make sure we use up leftovers so we're not going out to eat as much, or if we do plan some meals out, don't buy as much at the store for the week. I've also picked up some freelancing. Not as much for the money as because I like the work and working with this person, but am saving that money for our weekend away.

Also, I inherited some money and while most of it will be put away for the kids' college and our emergency fund, we did pay half of the credit card balance with a small portion of it. Now it will be easier to plan to eliminate the rest (using the savings account....uh, I mean planned spending account ) and cut the interest. We didn't pay the whole thing bc that would leave us less than the "round number" we've been using for funding the long term stuff. If that makes sense.

So while we are fine in the big picture, I'd really like to continue to cut debt and stop having surprises come up (like the sports thing -- fees were not listed on the website before he tried out and I didn't realize it would be 3+ times what the lesser level costs) when I thought I've planned for everything.

It's great to have a plan, and it's great to recognize that sometimes it has to change!!

 

[gracie1]

Bumping thread. How is everyone doing? I was able to cancel my service call for my ice maker! All of a sudden it started working. Hopefully it stays that way!

 

[Angeejoe]

Bumping thread. How is everyone doing? I was able to cancel my service call for my ice maker! All of a sudden it started working. Hopefully it stays that way!

Well that's great, that stuff never happens..fixing itself!

 

[ruadisneyfan2]

Bumping thread. How is everyone doing? I was able to cancel my service call for my ice maker! All of a sudden it started working. Hopefully it stays that way!

Check your temperature setting!
The first time our ice maker stopped working the repairman suggested the water supply line may be frozen. He recommended that we move everything to our spare freezer, shut the freezer off and leave the door open overnight. It worked wonderfully!
We restarted it the next day and it started making ice in no time. He said never keep a freezer that has an icemaker on the coldest setting.
So now we keep all ice cream in that freezer too so it's always easy to scoop. He didn't even charge us for the visit.
It did finally die a few years later though.

 

[gracie1]

Just bumping thread! How is everyone doing?

 

[Dentam]

 

[dayvewc]

Well, I'm up and down and up and down. Who needs a visit to a theme park when my life is a roller-coaster already? ;-)

Downs: I have added a little bit to my debt. With the pinched nerve / compressed disk / knee pain I am (was) unable to work my 2nd weekend job nor my 3rd summer job. So, I took a hit in income, but the doctor visits and physical therapy increased my healthcare costs while not reducing my gas usage. One of the joys of living in the middle of nowhere, I have to drive a minimum of 25 miles one way to go to PT, 50 miles for chiropractor, and 110 miles for orthopedic doctor. Also, I have always thought insurance was mostly a scam, but I'm beginning to lose faith in the medical profession as a whole. The orthopedic charged $480 for the first visit, where the exam was strictly a couple of reflex tests and asking me about the pain locations and levels. Then another $250 for x-rays. Insurance negotiated a reduction, but it was still over $300 combined. Haven't received the bill from the follow-up visit, but if it is anything like the first I doubt I go back for the next follow-up. Especially if my general practitioner can write a referral for physical therapy. All told, between medical costs and gas I've added about $3000 to my total debt. About half of that will be 0% financing so not as bad as it could be.

Ups: I can walk short distances, and stand for about 20-30 minutes before the pain becomes unbearable, which is up from not being able to stand or walk at all without excruciating pain. The second roommate is paying her share of bills, so that offsets some of the loss of income (but not totally for the summer, and pretty much is a break-even across the rest of the year assuming I can't return to my weekend job). And while I do think insurance in general is a scam, I have been pretty impressed with my AFLAC policy. It has (or will) pay $675 for all my doctor, therapy, and chiropractic visits. Not enough to cover them all, but definitely a help. The POS roommate has been paying most of his bills the past couple of months - his dad has been giving him some money each month for bills. It's not enough to cover everything he owes for his share, but it is a lot more than the nothing he paid for years. And, he has been doing more around the house since I haven't been able to do anything. Not to mention he has been of great assistance to me personally, so while I still wish he'd get his act together and start paying his full share, I'm content for the moment that he has upped his game. (The down-side is I think his dad will not pay anything after July, so beginning in August we'll be back to where we were 6 months ago. I'm hoping that with both me and the other roommate pointing out that he's not contributing any cash to the bills he'll finally understand that I'm not just trying to get money out of him but that he needs to contribute in some manner. If he hears it from both of us, maybe it will sink in.)

Other than that, family is doing well overall. And the rest of my life seems to be sailing along smoothly. Though now that I've said that, I'm sure the karma gods are going to send a storm of some kind my way.

 

[Angeejoe]

Well, I'm up and down and up and down. Who needs a visit to a theme park when my life is a roller-coaster already? ;-)

Downs: I have added a little bit to my debt. With the pinched nerve / compressed disk / knee pain I am (was) unable to work my 2nd weekend job nor my 3rd summer job. So, I took a hit in income, but the doctor visits and physical therapy increased my healthcare costs while not reducing my gas usage. One of the joys of living in the middle of nowhere, I have to drive a minimum of 25 miles one way to go to PT, 50 miles for chiropractor, and 110 miles for orthopedic doctor. Also, I have always thought insurance was mostly a scam, but I'm beginning to lose faith in the medical profession as a whole. The orthopedic charged $480 for the first visit, where the exam was strictly a couple of reflex tests and asking me about the pain locations and levels. Then another $250 for x-rays. Insurance negotiated a reduction, but it was still over $300 combined. Haven't received the bill from the follow-up visit, but if it is anything like the first I doubt I go back for the next follow-up. Especially if my general practitioner can write a referral for physical therapy. All told, between medical costs and gas I've added about $3000 to my total debt. About half of that will be 0% financing so not as bad as it could be.

Ups: I can walk short distances, and stand for about 20-30 minutes before the pain becomes unbearable, which is up from not being able to stand or walk at all without excruciating pain. The second roommate is paying her share of bills, so that offsets some of the loss of income (but not totally for the summer, and pretty much is a break-even across the rest of the year assuming I can't return to my weekend job). And while I do think insurance in general is a scam, I have been pretty impressed with my AFLAC policy. It has (or will) pay $675 for all my doctor, therapy, and chiropractic visits. Not enough to cover them all, but definitely a help. The POS roommate has been paying most of his bills the past couple of months - his dad has been giving him some money each month for bills. It's not enough to cover everything he owes for his share, but it is a lot more than the nothing he paid for years. And, he has been doing more around the house since I haven't been able to do anything. Not to mention he has been of great assistance to me personally, so while I still wish he'd get his act together and start paying his full share, I'm content for the moment that he has upped his game. (The down-side is I think his dad will not pay anything after July, so beginning in August we'll be back to where we were 6 months ago. I'm hoping that with both me and the other roommate pointing out that he's not contributing any cash to the bills he'll finally understand that I'm not just trying to get money out of him but that he needs to contribute in some manner. If he hears it from both of us, maybe it will sink in.)

Other than that, family is doing well overall. And the rest of my life seems to be sailing along smoothly. Though now that I've said that, I'm sure the karma gods are going to send a storm of some kind my way.

So sorry to hear about all the medical bills, but I'm happy to hear that you're feeling a bit better!

 

[bcwife76]

So sorry to hear about all the medical bills, but I'm happy to hear that you're feeling a bit better!

This - it's such a shame that people have to pay through the nose for medical treatment in the US, not like you WANTED all that to happen But I am glad to hear that you are feeling better and that *knock on wood* things are moving in the right direction!

We are just swimming along at the moment, sort of treading water. Expecting an influx of cash later in July from the gov't (bonus money, don't ask LOL) so that is ear marked for all our incidentals for our trip at the end of September that we haven't paid for yet (parking at the airport, dog kennel, Amtrak tickets from San Diego to Anaheim, shuttle from Disneyland to LAX, etc).

Kids have at least 4 birthday parties to attend in July and August *sigh* and our oldest is turning 7 in August so we're trying to find 'economical' party ideas lol

 

[OhMari]

I got the offer in the mail for 2% transfer fee from Chase. The only question I have is Chase stated that interest will be started as soon as you transfer. If I do not get the amount I transferred to Chase paid off by August 2016, will Chase make me back pay that interest? My husband bought a new John Deere lawn mower and we put real stone on the front of our house, instead of the fabricated stone. I thought we could pay it off a lot sooner, but it is just not happening.

 

[dayvewc]

So sorry to hear about all the medical bills, but I'm happy to hear that you're feeling a bit better!

Thank you.

This - it's such a shame that people have to pay through the nose for medical treatment in the US, not like you WANTED all that to happen But I am glad to hear that you are feeling better and that *knock on wood* things are moving in the right direction!

We are just swimming along at the moment, sort of treading water. Expecting an influx of cash later in July from the gov't (bonus money, don't ask LOL) so that is ear marked for all our incidentals for our trip at the end of September that we haven't paid for yet (parking at the airport, dog kennel, Amtrak tickets from San Diego to Anaheim, shuttle from Disneyland to LAX, etc).

Kids have at least 4 birthday parties to attend in July and August *sigh* and our oldest is turning 7 in August so we're trying to find 'economical' party ideas lol

Yeah, a couple of years ago I downgraded my insurance from the Platinum Plan (cost me $500 a month, but all I paid was $25 copay, and insurance covered everything else. After learning about the HSA accounts, and doing a review of how much I went to the doctor in a year, I switched to the "Clay" plan (or whatever they call it) as a cost savings and deferral plan for retirement. It would be my luck that all this happens before I managed to build up sufficient savings. But again, thanks for the well wishes.

Yay!! On the bonus money (not asking lol). And enjoy your trip. Good luck on the birthday parties.

I got the offer in the mail for 2% transfer fee from Chase. The only question I have is Chase stated that interest will be started as soon as you transfer. If I do not get the amount I transferred to Chase paid off by August 2016, will Chase make me back pay that interest? My husband bought a new John Deere lawn mower and we put real stone on the front of our house, instead of the fabricated stone. I thought we could pay it off a lot sooner, but it is just not happening.

I may be wrong on this, but my understanding on the intro offers (or at least my understanding on the one I'm using) is that they add the interest on whatever is not paid off. For example, if you transferred $10,000 and only paid $8000 off, you would be charged interest on the $2000 going back to the first day. Don't take my word for it though, double check with Chase. (My offer is through USAA). I have discovered that most of the customer service reps are usually pretty good resources for information. And especially if you call early, you'll at least be prepared for bad news.

Good luck with it though!!

 

[gracie1]

Thank you.



Yeah, a couple of years ago I downgraded my insurance from the Platinum Plan (cost me $500 a month, but all I paid was $25 copay, and insurance covered everything else. After learning about the HSA accounts, and doing a review of how much I went to the doctor in a year, I switched to the "Clay" plan (or whatever they call it) as a cost savings and deferral plan for retirement. It would be my luck that all this happens before I managed to build up sufficient savings. But again, thanks for the well wishes.

Yay!! On the bonus money (not asking lol). And enjoy your trip. Good luck on the birthday parties.



I may be wrong on this, but my understanding on the intro offers (or at least my understanding on the one I'm using) is that they add the interest on whatever is not paid off. For example, if you transferred $10,000 and only paid $8000 off, you would be charged interest on the $2000 going back to the first day. Don't take my word for it though, double check with Chase. (My offer is through USAA). I have discovered that most of the customer service reps are usually pretty good resources for information. And especially if you call early, you'll at least be prepared for bad news.

Good luck with it though!!

Your both right - just depends. I've had one where if the balance wasn't paid off by the expiration date then all the accumulated interest from day 1 has to be paid. And then I've had the others where I only had to pay interest on the unpaid balance. You definitely want to call your cc company to find out if your uncertain as to whether the balance would be paid by the expiration date.

 

[gracie1]

On another topic - I've started my Christmas shopping! I sat here at work the other night - made a list and unless it's a gift card I have started ordering. I am always done by October typically (sometimes earlier) and last year I wasn't done until a couple weeks before.

 

[ruadisneyfan2]

I did the Chase BT with 2% fee several times but never while it still had a balance with purchases. Also I paid them off before the 0% expired so I can't comment on what happens then.
I did use my Disney visa in WDW for a purchase after doing the BT. Stupid me, we were staying at WL and ate breakfast at WCC which is one of the restaurants that offers a discount if you pay with a Disney visa. So for my whopping $5 discount, I was charged interest from day 1 of when I charged our meal. Any payments are directed to the 0% promotional balance, not the purchase, so if I took a long time to pay it down, that $50 meal would have keep accruing interest. Luckily I was in crazy pay-down mode (still am) and it was all gone before the next month's statement.
Dayvewc, glad to hear you're feeling better. I found that if I kept doing the PT stretches at home, my back just kept improving.
Have you ever considered renting your DVC points? I understand you feel an obligation to use your timeshare since it's already paid for but DVC owners seem to be doing pretty good on the rent/trade board. I have been a renter several times myself and love it.
I don't know what the break-even point would be in comparing your annual maintenance fees vs. rental income but if rentals cover your MF and then some it's a win-win situation.

We aren't taking a summer vacation nor are we doing our usual Sept 4-day weekend over Jewish holidays when schools close here. I'm amazed and how much faster I'm paying down debt when I have no trips to plan. I'm dying to get away but really want to stick to The Plan and get in good financial shape. Our credit card debt with be paid off Thursday. yay! But our savings will take a slight hit to do so and then I'll be working toward beefing that up some and saving for Christmas.

I did the BT for dh's truck so I guess I technically still have cc debt in the eyes of Chase but to me it's still dh's truck payment, not careless spending. If I can stick to The Plan, it will be gone by mid-January.

In the meantime, I'm still swimming!

 

[nickle831]

Okay I'm joining in ready to get serious about getting my CC debt. I got a debt consolidation loan to pay off 3 of my high interest cards. That still leaves me with 2 other cards. One has 9.7 interest and the lowest balance and the other card is on a 0% interest but that will be ending in Sept. I was drowning with all the separate payments, now with the loan that will free up $200 for monthly expenses. I did the math the other day with all my bills and I was in the negative each month causing me to use my cards more. It's a horrible cycle.

 

[PrincessKymm]

My quarterly bonus comes in next week so yay! Once it arrives in my checking account I will have a fully funded baby emergency fund ($1,000) and I will pay off two credit cards plus a little extra on #3. I'm lucky to keep track of our sales count so I get to know how much my bonus is on a weekly basis. We pushed through an extra 1300 units so I get an extra $26. Whoo hoo! If you did the math I get 2 cents on every unit, not a lot but when you add up what we did this quarter my bonus will be the highest ever!

I have gotten help from someone in the extended family with my need for a lawyer. Basically I just need to save if my sons father ever decides to sue for custody or visitation so I'm probably in the clear for a while. DS will be 13 in November and his dad has never filed for anything so I don't see it happening anytime soon. I'm more comfortable with the larger emergency fund so instead of paying off another card I will push money into savings. This way if I do need to pay a retainer I've got the money saved. My car has been making a funny noise but my dad thinks it's a belt so he says he can fix it once it breaks so I'll just wait.

I tried YNAB again but my mind just doesn't work the way it says it should work. I've taken the classes and I don't find them helpful. I find it confusing so I need to find something else. I've started tracking spending in a notebook so my goal is to do it for 3 months and then rework my budget. I'm trying very hard to not eat out but I'm just tired all the time, even prepping for crockpot meals is a lot anymore.

I'm trying very hard to focus on my Disney trip. It will be sometime next year and it's what keeps me going. No money saved yet but I will have the deposit by the end of the year. I'm also looking at saving for a condo or town home. I don't really want a house but if I find something I like I won't object. I just think I need to buy something small and inexpensive so DS has a permanent home before, during and after college. Once he's off my payroll I will probably sell and move to a warmer climate or stay put and go back to school myself. I haven't a clue what I want to do when I grow up but I guess learning wouldn't hurt me. I just need to focus on getting rid of debt, not occurring any new debt and saving better. I'm trying very hard to change my mindset about shopping and buying things I don't need.

 

[dayvewc]

Dayvewc, glad to hear you're feeling better. I found that if I kept doing the PT stretches at home, my back just kept improving.

Thanks!! I have been doing some of the PT stretches at home. Probably not as often as I could/should but I can tell that something is helping. I'm not in near the amount of pain that I was in.

Have you ever considered renting your DVC points? I understand you feel an obligation to use your timeshare since it's already paid for but DVC owners seem to be doing pretty good on the rent/trade board. I have been a renter several times myself and love it.
I don't know what the break-even point would be in comparing your annual maintenance fees vs. rental income but if rentals cover your MF and then some it's a win-win situation.

I rented my points a couple of years ago. The first year I owned, actually. It was really nice, I as able to pay MF and about 8 months of payments (I actually rented 2 years worth of points, the rollover and the current year). I'm keeping that as a potential idea, but I really REALLY want to get back to DisneyLand before the 60th anniversary stuff ends next August. Based on timing and class and work schedules, I would be most able to go in early June next summer, so I can't even start planning before November, so at that point I'll have a better idea on if it is in the cards, and can make the final decision around then.

I do understand the difference in "need" and "want", so this trip is low on priorities. But I'm gonna do what I can.

We aren't taking a summer vacation nor are we doing our usual Sept 4-day weekend over Jewish holidays when schools close here. I'm amazed and how much faster I'm paying down debt when I have no trips to plan. I'm dying to get away but really want to stick to The Plan and get in good financial shape. Our credit card debt with be paid off Thursday. yay! But our savings will take a slight hit to do so and then I'll be working toward beefing that up some and saving for Christmas.

I did the BT for dh's truck so I guess I technically still have cc debt in the eyes of Chase but to me it's still dh's truck payment, not careless spending. If I can stick to The Plan, it will be gone by mid-January.

In the meantime, I'm still swimming!

Good job on getting stuff paid off. Sorry you aren't taking vacation. And great on having the end in near sight!

Okay I'm joining in ready to get serious about getting my CC debt. I got a debt consolidation loan to pay off 3 of my high interest cards. That still leaves me with 2 other cards. One has 9.7 interest and the lowest balance and the other card is on a 0% interest but that will be ending in Sept. I was drowning with all the separate payments, now with the loan that will free up $200 for monthly expenses. I did the math the other day with all my bills and I was in the negative each month causing me to use my cards more. It's a horrible cycle.

Welcome!!

 

[momtosam]

My quarterly bonus comes in next week so yay! Once it arrives in my checking account I will have a fully funded baby emergency fund ($1,000) and I will pay off two credit cards plus a little extra on #3. I'm lucky to keep track of our sales count so I get to know how much my bonus is on a weekly basis. We pushed through an extra 1300 units so I get an extra $26. Whoo hoo! If you did the math I get 2 cents on every unit, not a lot but when you add up what we did this quarter my bonus will be the highest ever!

I have gotten help from someone in the extended family with my need for a lawyer. Basically I just need to save if my sons father ever decides to sue for custody or visitation so I'm probably in the clear for a while. DS will be 13 in November and his dad has never filed for anything so I don't see it happening anytime soon. I'm more comfortable with the larger emergency fund so instead of paying off another card I will push money into savings. This way if I do need to pay a retainer I've got the money saved. My car has been making a funny noise but my dad thinks it's a belt so he says he can fix it once it breaks so I'll just wait.

I tried YNAB again but my mind just doesn't work the way it says it should work. I've taken the classes and I don't find them helpful. I find it confusing so I need to find something else. I've started tracking spending in a notebook so my goal is to do it for 3 months and then rework my budget. I'm trying very hard to not eat out but I'm just tired all the time, even prepping for crockpot meals is a lot anymore.

I'm trying very hard to focus on my Disney trip. It will be sometime next year and it's what keeps me going. No money saved yet but I will have the deposit by the end of the year. I'm also looking at saving for a condo or town home. I don't really want a house but if I find something I like I won't object. I just think I need to buy something small and inexpensive so DS has a permanent home before, during and after college. Once he's off my payroll I will probably sell and move to a warmer climate or stay put and go back to school myself. I haven't a clue what I want to do when I grow up but I guess learning wouldn't hurt me. I just need to focus on getting rid of debt, not occurring any new debt and saving better. I'm trying very hard to change my mindset about shopping and buying things I don't need.

I've tried and failed at YNAB too. I know many people love it, but I can't figure it out.

 

[ruadisneyfan2]

Thanks!! I have been doing some of the PT stretches at home. Probably not as often as I could/should but I can tell that something is helping. I'm not in near the amount of pain that I was in.



I rented my points a couple of years ago. The first year I owned, actually. It was really nice, I as able to pay MF and about 8 months of payments (I actually rented 2 years worth of points, the rollover and the current year). I'm keeping that as a potential idea, but I really REALLY want to get back to DisneyLand before the 60th anniversary stuff ends next August. Based on timing and class and work schedules, I would be most able to go in early June next summer, so I can't even start planning before November, so at that point I'll have a better idea on if it is in the cards, and can make the final decision around then.

I do understand the difference in "need" and "want", so this trip is low on priorities. But I'm gonna do what I can.

Sorry, I didn't mean to sound like I'm trying to guilt you out of your vacation. I totally get that sometimes a vacation is a need and not a want. Lol. I took 4 in the last year and even incurred new debt to be able to go.
I'm just amazed at how much more $ I have since I stopped planning trips.

 

[ruadisneyfan2]

Okay I'm joining in ready to get serious about getting my CC debt. I got a debt consolidation loan to pay off 3 of my high interest cards. That still leaves me with 2 other cards. One has 9.7 interest and the lowest balance and the other card is on a 0% interest but that will be ending in Sept. I was drowning with all the separate payments, now with the loan that will free up $200 for monthly expenses. I did the math the other day with all my bills and I was in the negative each month causing me to use my cards more. It's a horrible cycle.