Debt Dumpers - 2017

[DisneyMandC]

LOL!! I just went back and read your honeymoon trip report. No ****, but you were a STUNNING bride. When's your next trip to the World?

Aww thank you so much! I keep meaning to finish that darn thing... I'm not sure when the next trip is DH and I have been talking about taking our whole family there on a trip, but obviously that would be quite costly so we would need to save for a while. I am hoping now that DH is getting a promotion next month that we can start putting some money to our vacation fund. However, DFIL had a massive heart attack last June that's left him with pretty significant issues including brain damage, so I'm not sure that a family vacation like we originally thought will ever pan out. Obviously we would love to take him, but I don't know that it's something he would be able to handle endurance-wise or mentally for some time. He's making some great progress though, so hopefully one day we can make it happen

I would love to take my mom on a short, maybe four day girls' trip, but DH balked when I said I'd leave him at home! I can't say I blame him, I'd be mad if he went to Disney without me too!

 

[Jen and Ashwin]

Understandable. I've had a couple people question me before on whether it's wise to do PSLF, but I'm in the same boat of having over 100k, so it is worth it since I just started paying two years ago this month. The interest rates are just so frustrating. I realize I have a large amount of loans, but when I'm paying $815/mo and only $60 goes to principal, that just seems ridiculous. I think if I was on a 10 year standard plan my payment would be $1700. Which is more than my mortgage on my home with 17 acres.

By the way, I think Dave is from MO. Jen, why did I think you were in DC? Maybe I'm thinking of someone else on here. Funny stuff

The work that I do is heavily policy based, so I could see how you might think that. I am based at a research center at a large university.

 

[Jen and Ashwin]

LOL you are so right! If it makes anyone feel any better, I don't drive a Mercedes and I don't look or act like this guy-

I was lucky not to have student loans thanks to my parents. But I made a very deliberate choice not to go to a Biglaw firm because I wanted to love what I do, even if that meant making much less money. I don't drive a Mercedes either and don't think I ever will. I live in a nice upper-middle class neighborhood. I take nice vacations. And I am content with life. Working at a university, I get to wear jeans to work and telecommute 2-3 days per week. It's awesome. And great for my sanity.

Our newest attorney came from a large Michigan firm and has some real horror stories. She said the only good thing about it was that she met her fiance. He also left the firm and took a job with a legal aid organization. They are both using PSLF plans now, so I really hope they stay around.

 

[Ngwira]

I was lucky not to have student loans thanks to my parents. But I made a very deliberate choice not to go to a Biglaw firm because I wanted to love what I do, even if that meant making much less money. I don't drive a Mercedes either and don't think I ever will. I live in a nice upper-middle class neighborhood. I take nice vacations. And I am content with life. Working at a university, I get to wear jeans to work and telecommute 2-3 days per week. It's awesome. And great for my sanity.

Our newest attorney came from a large Michigan firm and has some real horror stories. She said the only good thing about it was that she met her fiance. He also left the firm and took a job with a legal aid organization. They are both using PSLF plans now, so I really hope they stay around.

I think many people make that choice, Jen. And, having an option like PSLF makes it an easier choice. Not having to worry about paying back those massive student loans is a nice trade off for the much lower pay. It also attracts quality candidates who otherwise would go into biglaw instead of to the local public defenders office or legal aid. The problem I forsee is keeping these attractive candidates in these positions once their loans are forgiven. I would hate to lose the two Attorneys I mentioned earlier who have 200k in student loans, once their loans are forgiven by PSLF. I hope they stick around as they are two of the best Attorneys I have.

 

[kleph]

Goodness gracious! My IRS refund was in my checking account this morning. That's ten days from filing. A land speed record for sure.

 

[Jen and Ashwin]

I worked on our tax return tonight. I am still missing a few documents, which is frustrating. DH's W2 from his grocery store job earlier this year hasn't arrived yet. He only made about $3000, but I can't file without it. Also, our mortgage servicing company changed in August, so I am still waiting for the 1098 from the former company. That should include about $3000 in mortgage interest, but I can't know the exact amount without the document. And then TurboTax isn't letting me input sales tax deductions right now either, stating that the IRS form isn't available yet. Since we bought a car this year, I was thinking that itemizing sales tax might be better than taking the standard deduction, but I can't know for sure until the form is available.

Without those items, it is saying we should get about $700 from federal and $350 from state. I am hoping it won't go down too much once I add DH's last W2, but who knows. Because I didn't think we would be getting much of anything this year, we haven't really discussed how the money should be used. I think I will suggest putting it into our fund to buy more DVC points. We decided that all of our cash rewards from our Capital One card will go towards that fund, so I was able to add another $100 to it last month. Once we get to about $5-6k in there, we plan to start looking for a small Wilderness Lodge contract. I have such fond memories of staying at Wilderness Campgrounds as a kid and DH really loved that resort when we tooled around after eating at Artist Point. After that, we didn't have any disagreements about which resort to buy points at next.

I am also thinking that any extra money I get from travel per diems that I don't use for meals should go towards that fund. I have a 2 day trip to DC tomorrow, so maybe I can bring some breakfast bars and have a little bit of money left over to put into the fund. We haven't budgeted any regular monthly savings into that fund, so I am thinking about ways to get creative with adding money toward it.

 

[momtosam]

Ugh, adulting is hard. There are quite a few events coming up that I'd love to do, but the budget isn't there. Sigh.
Mini pity party over.

 

[dayvewc]

Where do you live, dave?

Answer below.

By the way, I think Dave is from MO. Jen, why did I think you were in DC? Maybe I'm thinking of someone else on here. Funny stuff

I live close to Missouri. I did vacation last year in Branson, so I can understand why you might think that.

Dave lives in Missouri? Who knew Missouri had such high car insurance rates!

I don't know about Missouri rates, but I wouldn't be surprised. Especially if you calculate average rates as a percent of average income. When I switched companies a couple years ago over the rate increases I was told specifically that the reason that company doubled the rates was the number of uninsured/under-insured in the state.

I thought Dave was from MO? Maybe I'm wrong. He seems like a nice midwestern guy!

Thank you. I think I'm blushing.

I thought @dayvewc was from West Virginia? Hope he pops in soon to clear up this mystery .

Lol nope, not WV either, though I do have a lot of people ask if I'm from the D.C. area. (I'm not, btw. They are my initials, but I have several online accounts that are DCsomethingyear format.

To end the mystery, I currently live in far eastern Arkansas, in the midst of the Mississippi delta region. This puts me close to Mississippi, Tennessee, and not too far from Louisiana.

I'm originally from central AR, though I did live a year in Minnesota, and 2 1/2 years in South Korea.

 

[hmack]

my total credit card debt is still utterly horrible and embarrassing. BUT the total sum balance went down by $339.52 this month!

This is the first time the credit card debt has gone down in several months.

There's still a big ole mountain of debt to climb, but I'll take the small victories.

I check in on this board every day, so thank you for the continued inspiration.

 

[mco65]

hmack.. small victories add up!
my debt has gone up in just the last few days so count me as jealous..

 

[disneyduonj]

So I have $190.44 to put into savings for January but decided I needed to get my 5 year old a passport and ID so that is $120 plus the photos so will only have about $55+ - but still better than nothing and I have the money for the passport+photo!

 

[Eoywin]

We eat out about once a week. My husband works 2nd shift so we only really have family time over the weekends - if he's not working. This past weekend he worked all weekend, and he may have to do the same this weekend.

It's both sucky and nice. The paycheck he gets from time and a half on Saturday and then double time on Sunday are awesome. But then me and DD don't get to see him much.

But I've formulated a plan on how I can get rid of two credit cards this year and pay down the others. I want to end up with having one Capital One card and my Target card in the end. I'd also like to be able to get the Disney Visa at some point.

But once we get our taxes back, most of it is going towards paying debt down. And getting a new dishwasher - ours is falling apart and we need a new one.

 

[Ngwira]

Answer below.



I live close to Missouri. I did vacation last year in Branson, so I can understand why you might think that.



I don't know about Missouri rates, but I wouldn't be surprised. Especially if you calculate average rates as a percent of average income. When I switched companies a couple years ago over the rate increases I was told specifically that the reason that company doubled the rates was the number of uninsured/under-insured in the state.



Thank you. I think I'm blushing.



Lol nope, not WV either, though I do have a lot of people ask if I'm from the D.C. area. (I'm not, btw. They are my initials, but I have several online accounts that are DCsomethingyear format.

To end the mystery, I currently live in far eastern Arkansas, in the midst of the Mississippi delta region. This puts me close to Mississippi, Tennessee, and not too far from Louisiana.

I'm originally from central AR, though I did live a year in Minnesota, and 2 1/2 years in South Korea.

Arkansas, huh? Never would've guessed it.

 

[Dentam]

My splurge is going to see movies in the theater when there is something playing that I think is worth it. I've seen Rogue One a few times now because I love it so much. My local theater offers a loyalty program and sent me a coupon for the cup in December. It gave me the reusable 32 oz cup that they sell for free and each time I bring it with me I get it filled for $1.50. The other part of the loyalty program is a t-shirt for $25 and each time you bring it with you (you don't have to wear it thank god, ha) you get a free medium popcorn. The loyalty program is good for all of 2017 so it will save me a lot of money and allow me to have my splurge for the price of a movie ticket ($8) and the $1.50 drink. The next movie I'm seeing will be Beauty and the Beast!

 

[DisneyMandC]

Just found out DH's company will not be giving out annual bonuses this year We don't rely on the bonus, but it certainly would have been nice to have for some things. I know we should be lucky for him to have a job somewhere that even gives bonuses, but when the company doesn't give any holiday bonuses because they give an annual spring bonus, and then they don't give you a spring bonus... kind of a bummer.

 

[Ngwira]

My splurge is going to see movies in the theater when there is something playing that I think is worth it. I've seen Rogue One a few times now because I love it so much. My local theater offers a loyalty program and sent me a coupon for the cup in December. It gave me the reusable 32 oz cup that they sell for free and each time I bring it with me I get it filled for $1.50. The other part of the loyalty program is a t-shirt for $25 and each time you bring it with you (you don't have to wear it thank god, ha) you get a free medium popcorn. The loyalty program is good for all of 2017 so it will save me a lot of money and allow me to have my splurge for the price of a movie ticket ($8) and the $1.50 drink. The next movie I'm seeing will be Beauty and the Beast!

There is an awesome deal out for "Beauty and the Beast" through atom tickets. If you google it on slickdeals you will find an awesome offer. I paid $5.26 for 4 tickets, 2 adult, 2 children at an AMC theater with reserved recliner seats. We are seeing it on Sunday, March 19, 2017.

 

[Ngwira]

Just found out DH's company will not be giving out annual bonuses this year We don't rely on the bonus, but it certainly would have been nice to have for some things. I know we should be lucky for him to have a job somewhere that even gives bonuses, but when the company doesn't give any holiday bonuses because they give an annual spring bonus, and then they don't give you a spring bonus... kind of a bummer.

That stinks! I know when I'm anticipating $$, it sucks when it doesn't pan out. Your DH is still getting a promotion, right?

 

[mco65]

Just found out DH's company will not be giving out annual bonuses this year We don't rely on the bonus, but it certainly would have been nice to have for some things. I know we should be lucky for him to have a job somewhere that even gives bonuses, but when the company doesn't give any holiday bonuses because they give an annual spring bonus, and then they don't give you a spring bonus... kind of a bummer.

i work for a big financial company and the upper management get huge bonus'.. the workerbees get JACKDODO! Guess which one I am!

My wife, on the other hand, works for a large Airline and she gets a fairly big bonus every year... but i don't think everyone in the Company does... She did say she was going to pay off the credit card she used to get the floors redone (upstairs)... carpet gone, linoleum looking wood now..... something like that..

 

[Shmily1]

i work for a big financial company and the upper management get huge bonus'.. the workerbees get JACKDODO! Guess which one I am!

My wife, on the other hand, works for a large Airline and she gets a fairly big bonus every year... but i don't think everyone in the Company does... She did say she was going to pay off the credit card she used to get the floors redone (upstairs)... carpet gone, linoleum looking wood now..... something like that..

Same here.

 

[DisneyMandC]

That stinks! I know when I'm anticipating $$, it sucks when it doesn't pan out. Your DH is still getting a promotion, right?

Yes! So I am still thankful. We don't know what he will be making in that position yet though. His company does promotions sort of uniquely in that once you're put up for a promotion, such as to manager, you interview to be a manager and are then told afterwards if you qualify for the manager position or not. However, you may not actually assume the manager role for months until there's a manager position open in your area. So he qualified in December and begins his new role in March. Yeah, I know- it's weird.

I don't really understand why his company isn't giving bonuses. I don't think they had a ton of growth over the last year, but they are certainly a stable, nationally-known company that is not seeing a decline in business.