Debt Dumpers - 2015

[gracie1]

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!

That is great that your cc debt will be paid off Thursday!! Sounds like you are doing a great job and really focused. I'm with you on the no vacation either - I still go online and look at vacation spots but I don't see any vacations for a few years. I'm focusing on paying down my home equity loan - technically still has 9 years and am trying my best to apply a little extra each month - would like to have it paid off in 3 if I can swing it. I have to sit down and really crunch some numbers to see if I can.

 

[gracie1]

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 to the board!!! You are so right - it is a horrible cycle!! I did the debt consolidation loan before - unfortunately I didn't learn my lesson and still ended up in debt! Just remember we're all here for support and feel free to come here and vent if needed or even ask advice! There was also a thread that we did last year and the year before if you have time and want to go back and read them!! We're all glad to have you on board with us!!

 

[ruadisneyfan2]

That is great that your cc debt will be paid off Thursday!! Sounds like you are doing a great job and really focused. I'm with you on the no vacation either - I still go online and look at vacation spots but I don't see any vacations for a few years. I'm focusing on paying down my home equity loan - technically still has 9 years and am trying my best to apply a little extra each month - would like to have it paid off in 3 if I can swing it. I have to sit down and really crunch some numbers to see if I can.

It's so hard to not do anything for so long. I feel like we're such boring people. Lol.
We did splurge just a little for ds18's graduation dinner but except for that we've really only been spending on necessities.
What gets me through it is knowing it's not forever and that the better I "behave" the sooner we get all of our debt behind us.

 

[dayvewc]

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.

No problem. I didn't even think that. I give myself lots of guilt because I know I take more vacation than I really probably should, especially while I'm trying to pay down my other debts. I justify it to myself because I still have to pay the maintenance fees and taxes every year, and if I don't use the vacation time I lose it (for my RCI timeshare. Disney rolls over for 1 year, but is much more easily rentable). I just hate the idea of paying for vacation and not taking them. So, I'm not paying my debt as quickly as I could since I'm saving some for vacation instead of using it all for debt reduction.

I'm also not really confusing need and want, though there are times when I need that break.

On a different note, I redid my cell phone plan, and while I'll have an extra amount I'll have to pay in July, overall it should drop by about $60 a month.

 

[BernardandMissBianca]

2 more payments and my car is paid off. I am so ready for that to be done!!! I wish I had the money to pay it off now.
But then I found out if I put my son on my car insurance it will go up $1700 a year!! On top of what I'm already paying. So needless to say I am driving him around for now. Hopefully his truck will be up and running soon so he can drive that. It has it's own insurance though another company.

Right now until I get my car paid off we are struggling. I'm glad DH changed jobs and went back to the old place but the weekly pay cut is killing me. He makes the same at the end of the year with bonuses but it's really getting tough to not fall behind.

 

[DnA2010]

T

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

Interesting to see what comes through from the gov't indeed...

As far as birthday parties, when DD11 was younger, I had the "Toy trunk" when I would see good deals on toys from Superstore or Toys R Us etc, I would stock up- I would often be able get get really nice gifts for under $5- ie got a couple Cranium Family from Superstore for $4! Score!. So when a birthday party came up, rather than going shopping, DD would pick something out of the trunk.
With her birthday parties, we have done "home" parties the last few years- plan some games, decorate cupcakes, don't worry too much about food/decorations- I generally did her parties for less than $50, and the kids had a blast- for "goodie bags" we've been making something "home made" like candy/carmel apples, smores (home made marshmellow wrapped up with graham crackers and choc) etc...I think the kids found it a nice change from the swimming/bowling etc parties

 

[Angeejoe]

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!

Yea to Thursday's pay off!

 

[Angeejoe]

2 more payments and my car is paid off. I am so ready for that to be done!!! I wish I had the money to pay it off now.
But then I found out if I put my son on my car insurance it will go up $1700 a year!! On top of what I'm already paying. So needless to say I am driving him around for now. Hopefully his truck will be up and running soon so he can drive that. It has it's own insurance though another company.

Right now until I get my car paid off we are struggling. I'm glad DH changed jobs and went back to the old place but the weekly pay cut is killing me. He makes the same at the end of the year with bonuses but it's really getting tough to not fall behind.

Awesome only 2 car payments left!

 

[momtosam]

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

My kids birthday parties are one place I will break the budget -- not because of my love for them, but because I teach at their school, LOL! I learned the hard way the EVERY kid invited will come to check out the teacher's home. For my piece of mind it's worth it to pay for a party elsewhere ( and we don't let them do one every year).

 

[ruadisneyfan2]

My kids birthday parties are one place I will break the budget -- not because of my love for them, but because I teach at their school, LOL! I learned the hard way the EVERY kid invited will come to check out the teacher's home. For my piece of mind it's worth it to pay for a party elsewhere ( and we don't let them do one every year).

What is wrong with letting kids see your house? We've had teachers who've thrown end of year pool parties at their home and at the elementary level we'd get a letter from their new teacher every summer saying something like "I'm looking forward to meeting you in Sept." "I have a dog named Dodger." etc.
with their return address on the envelope. We all knew where the teachers lived. If you feel they would vandalize your home it might be better to have it somewhere else but otherwise I would think kids are just curious.

When our kids were little I always preferred to have parties somewhere else simply so it has a definite end time. That and our house is small with no basement. I didn't feel like cleaning up cake & pizza out of the carpeting.

 

[ruadisneyfan2]

Yea to Thursday's pay off!

That is great that your cc debt will be paid off Thursday!! Sounds like you are doing a great job and really focused. I'm with you on the no vacation either - I still go online and look at vacation spots but I don't see any vacations for a few years. I'm focusing on paying down my home equity loan - technically still has 9 years and am trying my best to apply a little extra each month - would like to have it paid off in 3 if I can swing it. I have to sit down and really crunch some numbers to see if I can.

Oops. I meant NEXT Thurs. Which really means late Wed night.
Still, sooo close! I can't wait!

 

[ruadisneyfan2]

2 more payments and my car is paid off. I am so ready for that to be done!!! I wish I had the money to pay it off now.
But then I found out if I put my son on my car insurance it will go up $1700 a year!! On top of what I'm already paying. So needless to say I am driving him around for now. Hopefully his truck will be up and running soon so he can drive that. It has it's own insurance though another company.

Right now until I get my car paid off we are struggling. I'm glad DH changed jobs and went back to the old place but the weekly pay cut is killing me. He makes the same at the end of the year with bonuses but it's really getting tough to not fall behind.

This is awesome about only 2 payments left! That should really help a lot once it's gone!
I know what you mean about adding a young driver. Just having ds18 licensed and in our house raised it like $1000 without even having a 3rd car. So we shopped around and switched companies.

 

[PrincessKymm]

2 more payments and my car is paid off. I am so ready for that to be done!!! I wish I had the money to pay it off now.
But then I found out if I put my son on my car insurance it will go up $1700 a year!! On top of what I'm already paying. So needless to say I am driving him around for now. Hopefully his truck will be up and running soon so he can drive that. It has it's own insurance though another company.

Right now until I get my car paid off we are struggling. I'm glad DH changed jobs and went back to the old place but the weekly pay cut is killing me. He makes the same at the end of the year with bonuses but it's really getting tough to not fall behind.

You can do it! Way to go!!!

 

[Angeejoe]

Oops. I meant NEXT Thurs. Which really means late Wed night.
Still, sooo close! I can't wait!

This is still awesome Patti!!

 

[momtosam]

What is wrong with letting kids see your house? We've had teachers who've thrown end of year pool parties at their home and at the elementary level we'd get a letter from their new teacher every summer saying something like "I'm looking forward to meeting you in Sept." "I have a dog named Dodger." etc.
with their return address on the envelope. We all knew where the teachers lived. If you feel they would vandalize your home it might be better to have it somewhere else but otherwise I would think kids are just curious.

When our kids were little I always preferred to have parties somewhere else simply so it has a definite end time. That and our house is small with no basement. I didn't feel like cleaning up cake & pizza out of the carpeting.

Oh, it's not them seeing the house, it's that every single one comes. Chaos!

 

[barbmouse]

Great job to all of you who are making strides towards dumping debt!! I find this thread so inspiring!!

We recently paid off a credit card with a large balance and last week deposited $700 earned from second jobs. This will also be used toward debt!! Every little bit helps and gets us a step closer. Good luck everyone!

 

[gracie1]

Oops. I meant NEXT Thurs. Which really means late Wed night.
Still, sooo close! I can't wait!

That is still great!!!

 

[gracie1]

2 more payments and my car is paid off. I am so ready for that to be done!!! I wish I had the money to pay it off now.
But then I found out if I put my son on my car insurance it will go up $1700 a year!! On top of what I'm already paying. So needless to say I am driving him around for now. Hopefully his truck will be up and running soon so he can drive that. It has it's own insurance though another company.

Right now until I get my car paid off we are struggling. I'm glad DH changed jobs and went back to the old place but the weekly pay cut is killing me. He makes the same at the end of the year with bonuses but it's really getting tough to not fall behind.

That is great that you only have 2 more payments. Once you get the car paid off I hope that it eases the struggle on you! That is a huge increase a year on car insurance!! Does he work also? I know once we were able to drive we had to assume the responsibility of paying for our insurance. We also had to buy our cars (they definitely weren't brand new!)

 

[gracie1]

Great job to all of you who are making strides towards dumping debt!! I find this thread so inspiring!!

We recently paid off a credit card with a large balance and last week deposited $700 earned from second jobs. This will also be used toward debt!! Every little bit helps and gets us a step closer. Good luck everyone!

Sounds like you are doing a great job!! Congrats on getting a cc paid off!!

 

[KSR0330]

Hello all! I've been lurking around and am finally posting! I have a lot debt including cc, student loans and car loan. I have increased my salary recently and no longer have to use the cc "to live" and am slowing paying down the debt.

It's totally sickening to see the amount of interest I pay each month. I'm so disgusted!

So I've decided to really focus on paying down the cc debt. I really feel like I spend so much money in food! I have two teenage boys so they do eat a lot, but I still feel like we waste a lot of food and that I shouldn't have to spend what I do each week (about 200-250 per week).

Is anyone else focusing on cutting the food bill? I try to eat healthy, so do spend a lot on fresh fruit and veggies. I don't but the cheap, convenience food (spaghetti o's) but also don't but a lot of meat. Anyone else found a way to save money on groceries? TIA!