Debt Dumpers - 2016

[Dentam]

My car is running fine today and the engine light went off. Go figure...

 

[*Flower*]

Congratulations to everyone!! I've been reading everything over the years since posting in 2015 after my DH was laid off from work (where I still work). Priorities change, and although we're not saving and spending like we did before the job change- we're still managing to save. We received his severance pay, all of his unused earned vacation pay, he's receiving one of the company pensions (which have since been discontinued to new employees), and we have yet to touch any of the severance or vacation pay.
And we're managing to save- although not as much as before.... but the $$ is still being set aside for emergencies.

So keep plugging away, the debt will shrink. And although I'm still not comfortable (still don't think we have enough in savings/liquid assets), I'm optimistic.

 

[momtosam]

We are in a similar boat here, except no severance . Big time adjusting of priorities, yet we are still making it. Debt dumping is going slow, but we are not debt accruing so in my mind it's a victory!

 

[gracie1]

My car is running fine today and the engine light went off. Go figure...

The same thing happened to me last month! And a couple weeks before that to my dad. Engine light was on for a few days and then just went off. Works for me!! Lol

 

[Dentam]

The same thing happened to me last month! And a couple weeks before that to my dad. Engine light was on for a few days and then just went off. Works for me!! Lol

Yeah, I'm not complaining - just confused!

 

[Shmily1]

Yeah, I'm not complaining - just confused!

One of my cars has the service engine light on for over a year. I've had it checked out and it is the tube from the gas tank that lets the fumes out and it has a slight hole in it. The fumes go out the tube anyway so having a hole in it isn't bothering anything. I drive that car all the time like that. Good luck with yours!

 

[Dentam]

One of my cars has the service engine light on for over a year. I've had it checked out and it is the tube from the gas tank that lets the fumes out and it has a slight hole in it. The fumes go out the tube anyway so having a hole in it isn't bothering anything. I drive that car all the time like that. Good luck with yours!

I wouldn't be so concerned except mine isn't just the light, it's the issues with accelerating - basically it won't when it goes through these episodes. I think I will still take it in to be looked at. Fingers crossed it is a simple/cheap fix!!

 

[ruadisneyfan2]

One of my cars has the service engine light on for over a year. I've had it checked out and it is the tube from the gas tank that lets the fumes out and it has a slight hole in it. The fumes go out the tube anyway so having a hole in it isn't bothering anything. I drive that car all the time like that. Good luck with yours!

Here, that will only work until it's time to have it inspected which would be 2 years max.

 

[Shmily1]

Here, that will only work until it's time to have it inspected which would be 2 years max.

Glad we don't have that in GA!

 

[DnA2010]

Hey! That's the form I'm missing... Annoying, isn't it?

We decided not to do DLP. DH had suggested it years ago but I wasn't interested. I know, I know. Shameful for a DISer not to take advantage of every opportunity to go to ANY Disney park but a) I didn't want to pay for it and b) there is so much to see and do in Paris proper, we aren't going to get to it all anyway, so going out of town to hit Disney seemed like a poor use of our time.

I might crunch the numbers anyway, just for fun...but I don't see us heading there at all...at least on this trip.

There is loads to do in Paris for sure...I think you should still crunch the numbers for an extra day or 2 at DLP- I mean you are already there right

 

[stayhomemom77]

There is loads to do in Paris for sure...I think you should still crunch the numbers for an extra day or 2 at DLP- I mean you are already there right

I looked into it...minimum of 400 Euros for one day park passes (hoppers)...which is like $600 CAD. Not going to happen.

 

[DisneyMandC]

Ugh, I feel like debt dumping is going soooo slowly for us. Last month and this month have been expensive, even though we've made some home improvements that I know will save us money in the long run. I'm just ready to get rid of debt now!!

On a slightly funny, yet ultimately horrifying, note, my brother and sister-in-law were over yesterday and we got on the subject of student loans. SIL mentioned that hers had a 2% interest rate (she went to school about 15 years ago). I laughed, and told her my lowest was 5% and the rest were in the 6%-7% range (all federal government loans). My brother about fell out of his chair. He had no idea interest rates were that high on student loans. He followed this up with "so if I loaned you $100k at 5%, you'd take that?" I told him not to play because I would jump on that offer!

It got me thinking though that perhaps this disconnect in what people think student loan interest rates are is why so many people don't understand my generation's struggle with student loans (and those older adults returning to school). I know someone else who told us that they just pay $200 every month to his wife's student loan until it's paid off. HA. My new payment is over $1000 each month. And even with that, I won't even hit the principal until 10 months from now. I graduated in 2014, so it's not like I've been sitting on student loans for a long time letting interest accrue!

 

[OhMari]

Ugh, I feel like debt dumping is going soooo slowly for us. Last month and this month have been expensive, even though we've made some home improvements that I know will save us money in the long run. I'm just ready to get rid of debt now!!

On a slightly funny, yet ultimately horrifying, note, my brother and sister-in-law were over yesterday and we got on the subject of student loans. SIL mentioned that hers had a 2% interest rate (she went to school about 15 years ago). I laughed, and told her my lowest was 5% and the rest were in the 6%-7% range (all federal government loans). My brother about fell out of his chair. He had no idea interest rates were that high on student loans. He followed this up with "so if I loaned you $100k at 5%, you'd take that?" I told him not to play because I would jump on that offer!

It got me thinking though that perhaps this disconnect in what people think student loan interest rates are is why so many people don't understand my generation's struggle with student loans (and those older adults returning to school). I know someone else who told us that they just pay $200 every month to his wife's student loan until it's paid off. HA. My new payment is over $1000 each month. And even with that, I won't even hit the principal until 10 months from now. I graduated in 2014, so it's not like I've been sitting on student loans for a long time letting interest accrue!

It is horrible. My first set of kids went to college 12 years ago and have low rates. My 2nd set of kids are in your position. I remember one year the rates were 13%, we refused the loans that year and everyone buckled down and we made the tuition payment, and helped with food and rent. My son was able to commute that year. The government has bailed out every industry, yet they will not touch the student loan industry. But hey, they will lower your payment, so you can owe even more interest in the long run. Feel for you.

 

[DisneyMandC]

It is horrible. My first set of kids went to college 12 years ago and have low rates. My 2nd set of kids are in your position. I remember one year the rates were 13%, we refused the loans that year and everyone buckled down and we made the tuition payment, and helped with food and rent. My son was able to commute that year. The government has bailed out every industry, yet they will not touch the student loan industry. But hey, they will lower your payment, so you can owe even more interest in the long run. Feel for you.

Yikes, 13%!! Smart (and wonderful) of you all to buckle down and refuse that. On my first day of orientation they sat all of us down and informed us that although we had been told our loans would not accrue interest while we were in school, that was no longer true because part of the deal to avoid the government shutdown was that from now on our loans would accrue interest. I wish I could have paid down my interest before it rolled into my principal when I started making payments after my grace period, but unfortunately it's hard for recent grads to have a couple thousand lying around...

Not trying to get political at all, but it's just so frustrating how many people say students just want a free ride these days. I don't, I'm happy to pay back my student loans and knew I would have to! It just seems absurd that the interest rates are this high.

 

[Dentam]

Well, I was just called to participate in a focus group. Problem is that it is scheduled from 8-10:30pm on my birthday. It would pay $100 but they wanted to spend the time talking about healthcare/politics. On my birthday... sorry, no can do!

 

[Gena001]

Well, I was just called to participate in a focus group. Problem is that it is scheduled from 8-10:30pm on my birthday. It would pay $100 but they wanted to spend the time talking about healthcare/politics. On my birthday... sorry, no can do!

LOL....I quit celebrating my birthday a few years ago. I'd do the focus group!

 

[Dentam]

LOL....I quit celebrating my birthday a few years ago. I'd do the focus group!

I'm not really doing anything special to celebrate that evening. I'm much more of a morning person than a night person. I just try to steer clear of politics and really don't want to discuss them with strangers on my birthday!

 

[MinnieFanatic]

Checking in. Not too much exciting to report. Paid one Cc off, and about $850 in medical bills that make me cranky to even think about...but at least they're gone. Transferred other CC to zero interest until next April, so as long as I pay a minimum of 310 a month for that time it'll be gone. Stuck a chunk in savings for future big bills. I am working on figuring out handling our next big expenses--braces, times two!! Insurance only pays $1,500 per mouth and that's it. I'm hearing to expect $6,000 so $9,000 out of pocket??? Yikes.

 

[dayvewc]

Ugh, I feel like debt dumping is going soooo slowly for us. Last month and this month have been expensive, even though we've made some home improvements that I know will save us money in the long run. I'm just ready to get rid of debt now!!

On a slightly funny, yet ultimately horrifying, note, my brother and sister-in-law were over yesterday and we got on the subject of student loans. SIL mentioned that hers had a 2% interest rate (she went to school about 15 years ago). I laughed, and told her my lowest was 5% and the rest were in the 6%-7% range (all federal government loans). My brother about fell out of his chair. He had no idea interest rates were that high on student loans. He followed this up with "so if I loaned you $100k at 5%, you'd take that?" I told him not to play because I would jump on that offer!

It got me thinking though that perhaps this disconnect in what people think student loan interest rates are is why so many people don't understand my generation's struggle with student loans (and those older adults returning to school). I know someone else who told us that they just pay $200 every month to his wife's student loan until it's paid off. HA. My new payment is over $1000 each month. And even with that, I won't even hit the principal until 10 months from now. I graduated in 2014, so it's not like I've been sitting on student loans for a long time letting interest accrue!

I started my grad class today!!! Yay!!?? :-/

I don't even really want to think about the student loan and interest rates. I don't have the final paperwork in front of me, but my memory seems to say that the current interest rate is in the 6% range. I also seem to remember that after the disbursement is made, I should receive information on how to pay the interest monthly to prevent it from rolling over into principal. That is my plan.

 

[bcwife76]

@Dentam cars are such a friggin' PITA! Glad it seems to be going ok now but smart to still get it checked out when you have the time. As for the focus group, while the $100 would be nice, I wouldn't want to spend 2+ hours of my birthday in one either - unless it was about CAKE I've still ignored getting tires for my car because I'm annoyed about it all. DH says I probably can wait to replace them later in the Spring or summer since the weather is, theoretically, getting better!

So since we've been pretty smart (mostly lol) with the inheritance I have received so far (debt gone, mortgage lump sum paid, retirement fund contributed to, savings/kids savings contributed too) I feel like our tax refund could either (a) go to savings or (b) be spent on something FUN sooo.....we are going back to Disneyland to celebrate the 60th for a second time! We are actually only going to the parks one day. We will also go to Universal Studios for another day and the third will be up in the air. We're going to stay at HOJO so that hotel has a great waterpark so I forsee lots of pool time. I suppose I should feel guilty about planning this considering we have a week in Maui in May and our second cruise next January....but I don't! Finally we are in the black, staying there come hell or high water, and if this trip is paid entire with our tax refund only then........ hey at least we don't need to get any souveniers and we can take our mickey ears from our last trip