Debt Dumpers - 2019

Discussion in 'Budget Board' started by Jen and Ashwin, Dec 6, 2018.

  1. crazycatstacy

    crazycatstacy Mouseketeer

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    My prime renews in August or September and I have my amazon card linked to it not Disney so I don’t think that was it
     
  2. jen7233

    jen7233 DIS Veteran

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    I understand, I actually think it's a little harder as the kids get older, for me that's how I feel though I know it depends on each kid. My youngest had a very difficult time our last move missing friends and his last school. Well, I know you're not talking of moving but I mean I understand the deploying and the military adjustments with kids.
    I hadn't really thought about it in that way as a want, but I do have a list of budgeted items like restaurants, clothing, and Walmart/misc. That's where the Target store usually falls, miscellaneous. And, that's when I'm following the detailed plan but really as long as I have set aside bills and savings, I don't follow it too strictly but I try to use some rationalization in there.
     
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  4. DLgal

    DLgal DIS Veteran

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    Thankfully this isn't a deployment. He will just be stationed overseas. We cannot go with him because of our sons special medical and educational needs, so he will only have to go for 1 year vs 2-3. At least he can come home and visit and we can talk to him every day. That's a lot better than a deployment! My oldest son had such a hard time both times we had to move cross country, and our last move was back "home" 3 years ago and we had already decided we wouldn't move our kids again, so we knew this was a possibility (being separated), but it still stinks.
     
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  5. jen7233

    jen7233 DIS Veteran

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    Either way, still it's hard whether deployment or unaccompanied tour hard to have the other half away. That time difference, too!
     
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  6. Shughart

    Shughart Mouseketeer

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    Oh no, this is AWFUL news. I am so sorry. I hope you're able to get into an orthopedic surgeon soon and get the surgery done. I hope that with pins and another cast, it can heal and gain stability again. Getting hurt as a kid is no fun. Now I know how much it sucks now as a parent too :(:(

    Excuse me, is his name Nick? Are we married to the same person? Because you described my husband. I feel like we need to do this too. Give ourselves an allowance budget. I have been kind of hard on us both in an effort to get our cards paid off in time to pay for our vacation without having to use the CCs again for the trip :(:(
     
  7. barkley

    barkley DIS Veteran<br><font color=orange>If I ever have a

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    also when the snow is flying and it's transitioning to freezing rain (like it is here right now). don't worry about zombies though, we have plenty around us and they pay us no notice (z nation films around us:teeth:).

    i get you-i have priced out tp/paper towels/tissues over and over-i can't get them for a better deal than when target has their sales where you get gift cards for buying x number. i just save the gift cards and use them the next time the same sale is on and get more gift cards/save more money.


    it really helps. my dh is into comic books and they add up fast so it's just easier if we both have a small 'allowance' we can buy whatever we want with. for me it's dvd's/blu rays b/c w/the exception of the $6 bargain day at the movies it costs less for me to buy a movie than for the 2 (or 3 depending on if ds comes w/us) of us to go when we figure in just gas/parking). he gets his comics, i get his movies (and often his made from comic book movies).
     
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  8. Eureka

    Eureka DIS Veteran

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    For quite a few years now, Dh has had me get him $40 cash back every week when I grocery shop. When I was laid off we temporarily stopped it until I was working again. He uses it for various things, sometimes I don’t even know what. I think he saved up and used it for my holiday gifts bc I didn’t see any charges on the debit card or the credit cards. I don’t often get myself cash back/allowance, but I don’t tend to buy myself things very often. My discretionary spending is more along the lines of the good deal on toilet paper someone mentioned above. Or holiday tissue paper and gift tag clearance, etc. For example, today I ordered myself a new lanyard for my work key fob that’s more like a necklace. $5.99 at Amazon after a $5 gift card. But little things like that I don’t tend to budget for or keep track of. There was a time when we had to do that, but thankfully right now we do not.
     
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  9. PhoenixStrength

    PhoenixStrength Found my Prince Charming!

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    We are using MyFitnessPal already! We've used it in the past with great success, we just don't do so well once we hit our goal, we tend to go back to old habits. We intentionally signed up for a gym membership with a 1 year commitment just to force ourselves to keep it up even after the 6 month DietBet ends.
     
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  10. potterfanatic

    potterfanatic Mouseketeer

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    Thanks for doing this again! I get so excited for Debt Dumpers, but then I have been failing miserably as the year goes on, so I'm hoping this is the year I stick to it. The good news is, we're starting off 2019 with some specific goals in mind and a raise! In April of 2019 I plan to have my car paid off making us a no-car payment home. I also plan to make all grocery purchases on my debit card, budgeting only what I have made from my freelance work. I have put my recurring payments on my Disney card that has been paid in full for the last several months, and I am am going to be slowly working down my credit card debt with the remainder of my husband's paycheck.
     
  11. TashK

    TashK Mouseketeer

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  12. TashK

    TashK Mouseketeer

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    Being that it is summer here, I'm taking most of January off and just doings bits and pieces of work from my laptop. Our family has a holiday unit on the coast so the boys and I spend most of our holidays here. DH business is busy in summer so he only heads over on weekends. Our spending seems less in holiday time, I guess it's mostly petrol as I do such long commutes during my work year.
    I have started back at the gym after having 6 months off with back injury, so I spent $19 not budgeted at Kmart on bluetooth headphones. Hopefully they will not break but I would not spend big $$ on Beats etc. Also $9 on some boardshorts for DS1 as he ripped a hole in the bum of his old pair.

    Otherwise we are chugging along. The end of Jan I need my brakes done & 2 new tyres so I'm not looking forward to that but we have budgeted for it knowing that Jan is 1 of 2 months where we do not have school fees.
    The Govt also pays us an allowance to drive our kids to school as there are no school buses in our rural area. This will end this year for DS2 as he is now coming into town to go to school but previously is was $4000 a term, so $8000 a year! It is calculated per km.

    I cannot remember if I mentioned in my first post but 1 of my goals is to replace funds into our investment fund. I had to sell a heap of shares last year to pay the excess and out of pocket expenses on medical for myself and the boys. i really felt like such a failure selling them as I had worked so hard snowballing our debt and then buying the shares, to then having to sell them. Anyways it's all good and 2019 will be my year to fix that little blip.
    That is also the reason ti establish my emergency fund as selling shares just makes me have to spend more time on my tax returns and well who has time for that?

    It feels good to get started on my goals as 2018 was chaotic for me healthwise and I have my fingers crossed that 2019 is completely different. On that note I have started a daily "grateful diary" to help turn my mindset away from being so focussed on what is going wrong.
     
    Last edited: Jan 9, 2019
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  13. OhMari

    OhMari WDW PreTrip and Trip Moderator Moderator

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    I had to think about some goals.
    1. Our health insurance gave us an online support group to join to help us loose weight. I have been on this journey and changed a lot of bad habits, but I feel support really does motivate you. I want to loose 20 lbs.

    2. I have been working hard to pay off my 2017 Volkswagon. I owe $6500 and hopefully have it paid off by June.

    3. I already pay an extra $800 on our mortgage and when our Volkswagonwagon is paid off I will roll that money to our payment, plus any other increases. My goal is to pay off $25,000 towards the mortgage this year.


    4. I get a new boss in June and I hope things go well. 6 years ago, we got a new boss and 3 people were let go because of salary cuts, I pray that does not happen again.

    5. Start investing more into retirement funds. My dh has a 401K and I have a Pension but we know we need to put more money away.

    6. I am going to go on another year of no clothes buy. I have plenty of clothes and no big events coming up. But if I loose weight, I will wait till 2020.

    7. I have a vacation fund-always have, just have not booked or decided what we want to do. Our children all got married within 18 months of each other and now the grandchildren are coming fast and furious. Someone is always asking us to help out and we are using vacation days.
     
    Last edited: Jan 9, 2019
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  14. LilSweetPeaPhoto

    LilSweetPeaPhoto Mouseketeer

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    Once again the question of WWYD?

    I'm a newly single mom. I inherited (now) $8500 in CC debt I have on a zero interest card. That will expire this month, but I have plans to move it to a new 0% card. I have about $20k in the bank. I also just got about $3500 from my granny (she died). The debate is, do I keep my savings (since I have no "partner safety net...and a $300k mortgage), and keep rolling that 0% offer and paying that slowly (I put $100 towards it a mo). Or do I just get the debt out from under me and pay it all off. I feel "safer" personally with the $23k in the bank, knowing that if something happened with my job I can at least still pay my mortgage and what not for awhile. I feel like as long as my CC debt is on a zero card, I should hang onto my funds. Of course if I can't get the new 0% card, I have other cards that offer 0% but there's the transfer fee charged. Then it might be worth paying off the debt. All other CCs I use (for points/miles) I pay off every statement. So I'm not currently accruing any more new debt. And I think I have the days of racking up new debt under control.

    I know I'm going to need a new water heater sooner than later, and maybe a new fridge. But otherwise almost everything in the house is newer and shouldn't have issues with it (furnace, a/c, dishwasher, bathrooms, floors, carpet, etc).
     
  15. Shughart

    Shughart Mouseketeer

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    I would personally pay it off. I would not want it hanging it over me. You have more than enough to pay it off and then still have 15k in the bank. Then you can build it back up and use your monthly payment and put it in savings. That way in case anything DOES happen with your job, you still have money in the bank, and you don't have the added stress of credit card debt. If you absolutely cannot find footing before your 15K runs out in that event you do have the card in case you need extreme back up. But that's me slapping your scenario roughly over my own, so obviously ymmv.
     
  16. DLgal

    DLgal DIS Veteran

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    I agree. Pay off the debt and start paying yourself back into the savings account instead. At only $100/month, that debt will take 7 years to pay off and there is zero chance you will be able to keep it at 0% that long or avoid balance transfer fees. Most balance transfer offers, even on brand new cards, charge a fee and it's limited to 18 months, usually, of 0%. You are going to have to transfer that balance 3 times, at least, before you pay it off. Just be done with it. Worst case, you come up to an emergency and you use a credit card, then you can balance transfer that and pay it down over time.

    I'd also move that $20k to an online savings account that will pay you at least 2% interest on it, if it's not already in one.
     
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  17. MamaBelleRN

    MamaBelleRN Mouseketeer

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    I am always intrigued by attempting a no spend month, but end up in the same camp as @imbatman . And TP during a zombie apocalypse would be a definite must! With five kids, it seems like something often comes up and I’d feel discouraged if I ‘fail’. I might just try for a no spend week sometime and go from there!

    That’s awesome! So exciting to be gearing up for the big day! Haha and yes hopefully the government shutdown ends soon!

    While I have no personal experience with military life, I very much appreciate all the sacrifices made by service men and women and their families. And ugh they won’t just let him stay in his job for one more year :sad2:. It seems like they could grant that request given all his years of service. I know the military doesn’t work that way, but I wish it would!

    @dayvewc I am so sorry about you health issues and medical bills. It was job loss and tens of thousands of dollars of medical bills over a couple of years that sent us from financial stability to near ruin. We were in the same exact spot as you- we made too much to qualify for any government or hospital assistance programs and not enough to get any loans to help cover costs. It’s a terrible place to be and a shame that in a country as developed as ours, necessary medical care can be so devastating to financial and emotional well being. Lots of prayers and I hope 2019 is a better one for you.

    We’re on our way to the orthopedic now. Poor guy was in a good deal of pain last night despite being fully medicated, so I’m glad we can start on the road to healing. We’ll see what he says!
     
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  18. DLgal

    DLgal DIS Veteran

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    Thanks. I appreciate that. It really is a head scratcher. He is eligible to retire next year, so what do they do? Give him 3 year orders overseas. I mean, our situation will knock that down to 1 year due to needing to be separated (family hardship), but imagine we were going to go with him? He doesn't want to do 3 more years! He is already pushing 20 years in and wants to be DONE! And they know this, and still screw him over. Our military is such a poorly run and inefficient bureaucracy, I swear. No disrespect to all the men and women who serve, but the government really doesn't care about its service members or their families. There is no compassion for personal situations and individual needs. I am so over it.

    Okay, rant over. Back to debt dumping. I need to go to Costco for a "few things." I need to put my blinders on so I don't get hooked by anything I don't actually need.
     
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  19. johnaalexis

    johnaalexis Live Long and Prosper

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    Jumping on the train!

    My Financial Goals:

    • Pay off about $1,450 in CC Debt that I accumulated over Christmas, and last Fall when I was student teaching and working A LOT LESS
    • Save at least $1,000 towards Emergency fund
    My Personal Goals:
    • Walk at least 3 miles a week
    • Eat better / smaller portions
    • Loose 20lb before we travel to WDW in July

    Look forward to sharing my triumphs with you guys! It can be a great help to have support from everyone! Have a great year and I hope everyone reaches their goals!!!!
     
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  20. imbatman

    imbatman Mouseketeer

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    Oooooh! There's something I can do! Try a week here and there. I did it out of necessity last year (upon finding out the debt), so I know it can be done. I have less meat in the freezer now, so I think I'll wait until I purchase a few staples until I try it. Thanks for the idea, @MamaBelleRN ! (Also, I keep extra TP on hand. The "what-if" of that situation is horrifying)
     
  21. jen7233

    jen7233 DIS Veteran

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    Is the job security certain? How much will a water heater and installation run you? None need to be answered, just things that I might ask myself were I debating the same situation.

    You could pay the CC debt off and then put in more back into savings to earmark a sinking fund for those household items. There are some cool refrigerators out there now, I'd say in the past one could say a new fridge may run you a few hundred, but now there are some that have TVs, electric whiteboards, and make coffee, unbelievable! Have you seen these things?! I didn't even know the coffee one was out there until I saw a posted picture. I miss our old fridge that simply had a water dispenser and ice maker that we sold with our home! Have been renting since, so we have the fridges that come with house, not anything good. As far as what would I do, that's a tough one, I'd be inclined to pay it off with savings if I had the amount you have, however, I'd really have to know I had nothing else coming up I'm going to need to possibly dip into savings for AND if I had absolute job security etc.

    Welcome! Great achievable goals. WDW in July, fun! And hot, ocassionally some random warm rain afternoons! We've done July and August, do rope drop and stay until noon or so, head back to hotel, come back at 6.
     
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