Debt Dumpers - 2016

[gracie1]

Exciting news here! I've been invited to give a talk at a conference in Shanghai in early July. My flights and hotel stay will be covered by the group hosting the conference. However, I would love to stay a few extra days and check out the new Disneyland park in Shanghai, which is set to open in mid-June. I'd also love to travel north to see the Great Wall. This feels like a once in a lifetime opportunity - but it will definitely change my debt dumping plans for the year!

That is exciting! I agree - this could be a once in a lifetime trip - anything that you really want to see I would most definitely do while there - even if it changes your debt dumping for a while!! Don't miss out on this opportunity!!

 

[Ava]

@Dentam, what a great opportunity! Traveling more is one of the things I most want to do when a) we have all of our debt paid off and can save for bigger trips, and b) my kids get older.

I'm not expecting much, if anything, back from my taxes this year. I got a promotion & fairly big raise at the end of 2013, which ended up pushing me out of qualifying for some credits in 2014 that I'd qualified for previously. I didn't owe, but I got very little back. I'm hoping it's the same this year and the income from the property sale doesn't make me owe. They did take taxes out already so hopefully it was enough! I'm still waiting for the tax form from the sale so I can't file yet.

 

[dayvewc]

@Dentam I have to agree. This is a wonderful opportunity. And with the flight and (most of) the hotel paid for, it will cost you a whole lot less than doing it on your own. I vote take advantage of the chance and enjoy the heck out of the trip!!

I got started on my taxes, and it looks like I will be getting a bit less back than I thought. I'm still waiting on several banking documents, but I have most of the "big stuff" entered, and looks like my refund will be closer to the $3k mark than the $3500. It shouldn't affect me too much, as I had planned for the refund to be split between my spring break trip and dumping some debt. I will still do that, it is just a question of "do I still split it evenly, or do I plan to belt tighten extra on the trip?" Actually, thinking about it just now writing the question, I can probably increase what I had planned for debt dumping to $2k+, without really even tightening the belt on the trip.

This trip is for my nephew, since he is graduating this year, so there are things I will buy and do for him, but the agreement was he had to save enough money for his own ticket and his own souvenirs. I would cover the gas, food, and lodging. The resort is already paid for, I don't need any souvenirs for me (other than pictures, and my phone will take those), and I already have my tickets - I bought an AP to US last summer when I was down there, and that is the only place he wants to go. So, for a week, I budget $125 per person for food (lots of sandwiches and cooking in the resort), and $300 gas round trip. That would bring the total to only about $550 - $600. I had been thinking closer to $1000, because that is what I told him to plan on trying to save. $500 for tickets and $500 for souvenirs and if he wanted to buy "theme park food". I am really hoping he wouldn't want to buy that much stuff, but I also was insistent that I wasn't going to buy him stuff. His graduation present from me is the rest of the trip - and dinner at T-Rexs.

So, I could conceivably get less back on my refund and still pay more than I had planned on my debt with it. Woo-hoo!! Silver lining after all. I'll just have to stick tight to my guns and not spoil him on the trip. Not an easy thing for me to do.

 

[hollybearsmom]

Anyone's child in after school activities that calls for a "pay to play" without fundraising? Facing high school extra curricular with huge upfronts in the fall. Need to figure out a way to have a huge yard sale now.

 

[Jen and Ashwin]

Anyone's child in after school activities that calls for a "pay to play" without fundraising? Facing high school extra curricular with huge upfronts in the fall. Need to figure out a way to have a huge yard sale now.

Is your high schooler able to get a summer job to help defray some costs?

 

[PrincessKymm]

Anyone's child in after school activities that calls for a "pay to play" without fundraising? Facing high school extra curricular with huge upfronts in the fall. Need to figure out a way to have a huge yard sale now.

Ugh yes! DS is finishing up middle school this year so I've got to come up with money for track in the spring. Since he's decided he likes running sports and will stick with them through high school (which starts in grade 8 in our district) I need to come up with an additional $75 twice a year just for his joiner and uniform fee. If he decides to participate in marching band I will need to pay for that too. If he decides to stick with Rec baseball that's only $30 so I might not care as much. I really dislike our city league now (they have lost a lot of kids b/c the coaches are awful) so I'm hoping he doesn't continue. If he wants to swim a city pool pass is $100 for the summer but I've got to buy one for my mom as well since she's trained on what to happen if he has an episode. Since he can't swim alone this is a necessary cost.

Everything is pay to play in our school district. I still owe $45 in fees for this school year and next year starts his pre-engineering program which thankfully the curriculum is covered by a grant but there are class supplies I will need to cover in addition to the sports and school fees. He will also go on his 8th grade trip to DC so that's a couple hundred dollars. We also know in 4 years we need to pay for a trip to New York for band which will be about $600.

I am turning slightly green when I list all these costs. I need to figure out a new budget very soon but I still don't know how much my pay checks will be.

 

[hollybearsmom]

No car so no job chances except weekends and under 16 can't work after 10pm, heard from a lot of friends there's not much to go or here job wise.
Glad to hear someone else faces this. It was shocking when I got the high school fee schedule after only paying rec club prices for years. Soccer looks like its going to be about 5x as expensive if he makes it. Glad to find out in advance though.

 

[dayvewc]

Ugh yes! DS is finishing up middle school this year so I've got to come up with money for track in the spring. Since he's decided he likes running sports and will stick with them through high school (which starts in grade 8 in our district) I need to come up with an additional $75 twice a year just for his joiner and uniform fee. If he decides to participate in marching band I will need to pay for that too. If he decides to stick with Rec baseball that's only $30 so I might not care as much. I really dislike our city league now (they have lost a lot of kids b/c the coaches are awful) so I'm hoping he doesn't continue. If he wants to swim a city pool pass is $100 for the summer but I've got to buy one for my mom as well since she's trained on what to happen if he has an episode. Since he can't swim alone this is a necessary cost.

Everything is pay to play in our school district. I still owe $45 in fees for this school year and next year starts his pre-engineering program which thankfully the curriculum is covered by a grant but there are class supplies I will need to cover in addition to the sports and school fees. He will also go on his 8th grade trip to DC so that's a couple hundred dollars. We also know in 4 years we need to pay for a trip to New York for band which will be about $600.

I am turning slightly green when I list all these costs. I need to figure out a new budget very soon but I still don't know how much my pay checks will be.

Ugh that does sound less fun than it could be.

On the other side, since you know about all this ahead of time (band trip 4 years from now? Wow, that's some detailed planning) it might not be quite as bad as it seems.

Track is $75 twice a year = $150
You didn't list band price, but just estimating the same = $150
Rec baseball = $30
Swim pass x 2 = $200

These total $530 over the course of the year, or $45 a month. Plus $12.50 each month over the next 4 years for band trip ($600/4 =$150 per year / 12 months = $12.50). Plus $25 each month for the DC trip ($25 x 12 = $300, just guessing how much it will cost, but that's a "couple hundred") totals out to $82.50 each month that you'd have to save to pay for it all. And while that can still be a chunk, I find it a lot easier to save a little each month than to realize I have to come up with a couple hundred in 6 weeks.

Good luck on the new paychecks. Here's to hoping that it is bundles and bundles more than you are expecting!!


On a totally different note, I got to looking for my DisneyLand trip in May, and realized that I can get a 4 day pass to DL/DCA for less than the cost of the SoCal pass. It would mean I'd have to drop my planned day at LegoLand, but I haven't actually seen enough about that to set my heart to pitter-pattering, so thinking it will be no real loss. It's only a $30 difference, but that's a 60th anniversary souvenir t-shirt.

 

[Ava]

Anyone's child in after school activities that calls for a "pay to play" without fundraising? Facing high school extra curricular with huge upfronts in the fall. Need to figure out a way to have a huge yard sale now.

My DD is only in 1st grade but we've already been paying for some after school enrichment classes that her school offers. It's not mandatory, of course, but we've let her do 1-2 per semester so far. I figure its a good way for her to try out different things without committing to a full year or semester at an outside place, plus it's convenient since they all take place at her school. It's not exactly cheap, but if you divide the cost out per hour that she's there, it's cheaper than a babysitter.

I also realized that its actually 2016 so my younger one will be going to preschool in the fall. Not sure exactly where she's going to go yet, since the preschool my older one went to is no longer in business (it was a co-op), but the one we are looking at ranges from $350-$525/month depending on how many days per week they go. We wouldn't send her at all except she will be going to pre-K at the elementary school when she's 4, which is all day, and I think it'd be a lot to go from staying home with mama to going to school 5 days/week, 6 hours/day. Although the principal has already said my wife is welcome to volunteer in a pre-K class next school year, and bring DD2, so she will be familiar with it before she starts going full time. So we will probably only do 2-3 days per week of preschool so they'll have an opportunity to take the principal up on that offer.

 

[Gena001]

GUESS WHAT GUYS! I found two boxes of Legos in the basement that have never been opened! They are from 2006/2007! I looked them up and they are going for decent prices! I listed them, figuring I'd take less than other sellers so someone can really enjoy them. One box went for $50, but the other box didn't meet reserve. The high bidder is the same person who bought the first box so I've emailed to see if we can cut a deal. Better cash in my hand than clutter in the house!

 

[scdak]

Reading this thread really gives me some great ideas about how to budget and save money, so THANKS!
Exciting news for me is that Friday I will pay off my vehicle, I just paid off a small credit card a few days ago, paid 2 extra payments on the next card to pay off since I brought home money from vacation and I hope to swing paying that card off Friday too!

 

[LilSweetPeaPhoto]

Ugh yes! DS is finishing up middle school this year so I've got to come up with money for track in the spring. Since he's decided he likes running sports and will stick with them through high school (which starts in grade 8 in our district) I need to come up with an additional $75 twice a year just for his joiner and uniform fee. If he decides to participate in marching band I will need to pay for that too. If he decides to stick with Rec baseball that's only $30 so I might not care as much. I really dislike our city league now (they have lost a lot of kids b/c the coaches are awful) so I'm hoping he doesn't continue. If he wants to swim a city pool pass is $100 for the summer but I've got to buy one for my mom as well since she's trained on what to happen if he has an episode. Since he can't swim alone this is a necessary cost.

Everything is pay to play in our school district. I still owe $45 in fees for this school year and next year starts his pre-engineering program which thankfully the curriculum is covered by a grant but there are class supplies I will need to cover in addition to the sports and school fees. He will also go on his 8th grade trip to DC so that's a couple hundred dollars. We also know in 4 years we need to pay for a trip to New York for band which will be about $600.

I am turning slightly green when I list all these costs. I need to figure out a new budget very soon but I still don't know how much my pay checks will be.

I haven't officially joined yet, but those seem doable. And some schools have a max you have to pay each year. So you might want to see if yours does. I know where I teach they never pay for more then 2 extras.

I also have to say, my idea of extra kid expenses is skewed My 10 year old has been playing soccer for 8 years. For the last 4 years it's been about $2-3k a year for that. My 6 year old is in his 3rd season of hockey as well. And that's about $1500. So all that money we're saving from them no longer being in daycare full time has gone to other expenses, LOL.

 

[DisneyMandC]

Man am I frustrated with student loan servicers!! I think I talked about this some before, but I had submitted the paperwork to certify my income back in November to stay on one of the income based repayment plans. When I got the updated amount, they had put me on the wrong plan so the payment was $200 a month higher than I expected. I called to get it changed back to the correct plan and they said they'd have to put me in forbearance while I submit the paperwork for the new plan and that I'd get a bill for a forbearance payment. Well, never got a bill in December. They called and said they hadn't processed the forbearance plan yet and that was why but don't worry, I was good through February. So I just sent off my paperwork and have been checking all along for a forbearance bill just in case. Looked yesterday- no bill. $0 owed. Looked today- $216 owed by Saturday, standard 10 year repayment plan payment owed for February. Sure enough, the $216 is the forbearance payment. Good thing I've been checking just to make sure! Fortunately the $216 is no problem so I knew I'd be paying it eventually, but what if I hadn't checked my account at all this week? So frustrating! Wish I could change servicers, but mine is the only that takes care of the public service loan forgiveness, so I have to stuck with them. Ugh!

 

[gracie1]

Ugh yes! DS is finishing up middle school this year so I've got to come up with money for track in the spring. Since he's decided he likes running sports and will stick with them through high school (which starts in grade 8 in our district) I need to come up with an additional $75 twice a year just for his joiner and uniform fee. If he decides to participate in marching band I will need to pay for that too. If he decides to stick with Rec baseball that's only $30 so I might not care as much. I really dislike our city league now (they have lost a lot of kids b/c the coaches are awful) so I'm hoping he doesn't continue. If he wants to swim a city pool pass is $100 for the summer but I've got to buy one for my mom as well since she's trained on what to happen if he has an episode. Since he can't swim alone this is a necessary cost.

Everything is pay to play in our school district. I still owe $45 in fees for this school year and next year starts his pre-engineering program which thankfully the curriculum is covered by a grant but there are class supplies I will need to cover in addition to the sports and school fees. He will also go on his 8th grade trip to DC so that's a couple hundred dollars. We also know in 4 years we need to pay for a trip to New York for band which will be about $600.

I am turning slightly green when I list all these costs. I need to figure out a new budget very soon but I still don't know how much my pay checks will be.

Does your son already have an instrument for band or do you have to pay for that also? It's crazy how expensive it is to keep the kids active now! Remember when it was almost free (except for things like uniforms and the trips?). Lol! And not to rain on anyone's parade - but just think of the senior trips these schools do now!! Wow!!

 

[gracie1]

Reading this thread really gives me some great ideas about how to budget and save money, so THANKS!
Exciting news for me is that Friday I will pay off my vehicle, I just paid off a small credit card a few days ago, paid 2 extra payments on the next card to pay off since I brought home money from vacation and I hope to swing paying that card off Friday too!

Wow! That is very exciting news!! You are doing an awesome job! That's two payments that you have freed up. It's so nice not having a car payment too! Way to go!!

 

[MrsTurnerLovesDisney]

Man am I frustrated with student loan servicers!! I think I talked about this some before, but I had submitted the paperwork to certify my income back in November to stay on one of the income based repayment plans. When I got the updated amount, they had put me on the wrong plan so the payment was $200 a month higher than I expected. I called to get it changed back to the correct plan and they said they'd have to put me in forbearance while I submit the paperwork for the new plan and that I'd get a bill for a forbearance payment. Well, never got a bill in December. They called and said they hadn't processed the forbearance plan yet and that was why but don't worry, I was good through February. So I just sent off my paperwork and have been checking all along for a forbearance bill just in case. Looked yesterday- no bill. $0 owed. Looked today- $216 owed by Saturday, standard 10 year repayment plan payment owed for February. Sure enough, the $216 is the forbearance payment. Good thing I've been checking just to make sure! Fortunately the $216 is no problem so I knew I'd be paying it eventually, but what if I hadn't checked my account at all this week? So frustrating! Wish I could change servicers, but mine is the only that takes care of the public service loan forgiveness, so I have to stuck with them. Ugh!

Yuck sounds like my husband's mess. We changed bank accts in early Dec and called to get his account automatically drafted from the new bank acct. Well they can't do that over the phone we had to reset his online stuff. And we decided hey while we here lets update income information for an income based repayment plan since his income went down when he took a new job in Dec also. The estimate they gave us online was $15 a month!! WOW ok well we would still pay at least $50 or so but we can't both pay $100 each right now. (I have a loan with the same people)

Long story short we sent in the paper work since we are married they needed income info for both of us. That was early January haven't heard a thing from them.....we've checked emails the online acct the mail nothing.....so frustrating

 

[DisneyMandC]

Yuck sounds like my husband's mess. We changed bank accts in early Dec and called to get his account automatically drafted from the new bank acct. Well they can't do that over the phone we had to reset his online stuff. And we decided hey while we here lets update income information for an income based repayment plan since his income went down when he took a new job in Dec also. The estimate they gave us online was $15 a month!! WOW ok well we would still pay at least $50 or so but we can't both pay $100 each right now. (I have a loan with the same people)

Long story short we sent in the paper work since we are married they needed income info for both of us. That was early January haven't heard a thing from them.....we've checked emails the online acct the mail nothing.....so frustrating

Yup. And I get the sneaking suspicion that something is going to go wrong with the current paperwork. I told them my husband and I file our taxes separately (specifically so I don't have an obnoxious student loan bill every month) and they told me to not send in any of his income information with the application. Even though it repeatedly asks for it. There's no where on the application to indicate you file separately, so I finally just wrote it on there. So we'll see...

 

[scdak]

I had to laugh today, I went to the grocery store to get cornbread for my mother(as a surprise) since I was close to the grocery store that has it............I came out with $60 of food and NO cornbread (they were out) but I save $20 due to the MVP card! It wasn't splurges as such except things for my mother, it was things I eat that were on sale so I saved money in that respect, and most of it was healthy LOL - that's another story but its not just a New Year's resolution (I don't make them) but due to my constant effort to eat better! I did pay with cash in my wallet instead of charging it so that's a good thing I guess So all in all it was a good shopping trip I guess so I am happy.

I started reading this thread to get some ideas of how to improve my budget and decrease my debt, although I have a lot more debt than I am happy about I realize that I didn't have the true idea of using the snowball method of bill payments, having read the thread and searching the internet has shown me more of what I have been doing wrong......well besides spending money! I am never behind on payments, I have been making 2 payments a month to CC companies and always more than the minimum amount (if I even have a minimum amount since I am "ahead" on payments) but now I have the real idea of using the snowball method so I will make the necessary changes and really start seeing better results, although I am pretty stoked about what I have accomplished this month!

 

[bcwife76]

GUESS WHAT GUYS! I found two boxes of Legos in the basement that have never been opened! They are from 2006/2007! I looked them up and they are going for decent prices! I listed them, figuring I'd take less than other sellers so someone can really enjoy them. One box went for $50, but the other box didn't meet reserve. The high bidder is the same person who bought the first box so I've emailed to see if we can cut a deal. Better cash in my hand than clutter in the house!

Hey that's awesome!! Nice find!

 

[MrsTurnerLovesDisney]

Yup. And I get the sneaking suspicion that something is going to go wrong with the current paperwork. I told them my husband and I file our taxes separately (specifically so I don't have an obnoxious student loan bill every month) and they told me to not send in any of his income information with the application. Even though it repeatedly asks for it. There's no where on the application to indicate you file separately, so I finally just wrote it on there. So we'll see...

GOOD LUCK!! hopefully the headache for you will be over soon I have a feeling it's just starting for us