Debt Dumpers - 2019

[barkley]

Man I wish I could quit budgeting money to my medical category in YNAB. I coughed from thanksgiving until New Years, then DH got the flu in the middle of December, then he got a head cold, and now he’s given the head cold to me. Granted I’d rather have the head cold than the flu, but I’m really tired of buying DayQuil and cough drops!

NO KIDDING.

this month so far i've bought-3 packs of different types of coricidin, 1 bottle of cough syrup, 1 pack of vicks strips for the vaporizer, and a few other otc's. i usually buy them periodically so it doesn't really hit me how much they run but DANG-i'm up near $90 (and that doesn't take into consideration all the extra, orange juice, puffs and clorox wipes we've gone through). we are sick of being sick.

 

[DisneyMandC]

NO KIDDING.

this month so far i've bought-3 packs of different types of coricidin, 1 bottle of cough syrup, 1 pack of vicks strips for the vaporizer, and a few other otc's. i usually buy them periodically so it doesn't really hit me how much they run but DANG-i'm up near $90 (and that doesn't take into consideration all the extra, orange juice, puffs and clorox wipes we've gone through). we are sick of being sick.

I've spent about the same. I've been in bed all day today just trying to take it easy so hopefully I can recover faster. I had a lot I was hoping to do around the house on this long weekend, but I rarely take a total day off for myself, so I've just been streaming The Wire for... and embarrassing number of hours now.

 

[Shughart]

Hey guys, PSSSST. UP YOUR VIT D INTAKE! Most people are deficient, even more so this time of year. Not only is it important for your bones, but it's also amazing for your immune system. It also keeps fatigue at bay. Obviously everyone's bodies are different, but look into it. I take 4000 IUI a day. My breastfeeding friend takes 6000 a day so her and baby are covered. Elderberry is also very good for cold season too, but I have not needed it with the Vit D. I back off quite a bit in the summer though, because I found myself outside a lot.

 

[Eureka]

Guys, I am just about ready to give up and get into my bed. Had my anniversary band inspected yesterday and two stones were loose. Apparently the twice yearly inspection I go for only covers if the diamonds are missing (cost of the stones) and I had to pay $100 to it fixed. Then I find my disposal is leaking under my kitchen sink and apparently has been for a while because it stinks and there’s some muddy looking sludge in there. Put down a towel, open box of baking soda and a basin and will call the plumber tomorrow, if they’re open. The wood looks rotted, but thing is, we had a leak under there fixed about a year ago. So not happy right now.

On the flip side, I got $112.50 back for the washer delivery issue and the dinner DH and I went out to last night wasn’t quite that much. I guess I should just be happy he is not furloughed and we have savings for all these things. But really would like a break in the action, so to speak.

 

[Ngwira]

I want to open an online savings account to start stashing away spare money each month. I know NOTHING about online savings. Do any of you have a preference? Preferably one without a super high minimum balance.

Ally.

 

[DnA2010]

Honestly, the Roth isn't a big deal. It would be if we didn't have a military pension worth approx $4M coming our way starting next year...which, even if something happens to my husband, I will get half of, so retirement isn't a worry for us, financially. We are lucky in that respect. We are also just turned 40. There is still plenty of time for the Roth and the TSP to continue to grow.

The checking account goes down to about $100 twice a month after we get paid and allocate all the other funds. There is no more cushion there at all.

You are retiring next year at 40? With a 4M pension?! That’s bloody amazing! Given the circumstances I’d say why not

 

[DLgal]

You are retiring next year at 40? With a 4M pension?! That’s bloody amazing! Given the circumstances I’d say why not

Not me, my husband. Yes, he will be 41 when he retires from the military. The pension payments start immediately, with annual cost of living raises. As the calculation goes, if he collects the pension for 40 years, they will pay out approx $4M before taxes. Very low cost health insurance for life for him and all his dependents is also part of the package. If he lives beyond 81, the payments just keep going, so potentially, it is worth even more. As his spouse, if he passes before me, I will continue to collect 55% and keep the health insurance benefits, unless I remarry before age 55. It's a sweet deal for sure, but not many military make it the full 20 years, and he is a fairly high ranking officer, so it's a very good monthly pension payment.

Just 17 more months to go!

 

[crazycatstacy]

I need some pats on the back for being responsible adults please...

We are going to Disney World in March for 9 days. This is our first time staying off property and not having the deluxe dining plan. We are huge foodies and love to eat at Disney so we are a little concerned about the expense of food. Yes would could eat the house we are staying at but we just don't want to (I know, I sound like a spoiled brat). We agreed to MINIMAL sit down meals and said we would use this trip to eat quick service and snacks that we never get a chance to try. We have Mama Melrose booked (the one dinner with all 21 people on this trip, can't get out of), Hollywood and Vine Pre Park opening breakfast (we get our 8 year old nephew for 4 days- he has a crappy home life an we try to make up for that as much as we can when we see him, so this is to get in early to sign up for Jedi Training), Crystal Palace Pre Park opening breakfast, California Grill Brunch (my nephew loved this last time (as did we) and we are treating my mom and her husband to this as a thank you for renting the house and inviting us along), and snacks at Beaches and Cream.

We were watching some videos and saw that there is now an Illuminations dining package at Rose and Crown for $85 per person. We have never stayed for Illuminations and had said we would make sure to see it in March before it left. So of course we booked it (I know, you are wondering where the responsible part comes in).

The next day we are discussing budget and where to cut expenses in every day life and my husband says "I feel like we have been pretty good about not spending lately". I reminded him that we just dropped $170 on a meal to see fireworks. We decided to cancel the meal. $170 saved. Then we were discussing it even more and decided to drop the Crystal Palace reservation, we can get muffins or something to have at the house and we can eat those on the way into the park and snack later. $150 (I'm guessing) saved.

I feel so adult and responsible.

 

[DnA2010]

Well our basement is trucking along- we purchased the tub and top for around it, vanity, taps/shower, drain and all the flooring on the weekend- yikes! Flooring is so expensive, but such is right...still need to buy doors (for 2 bedrooms, bathroom, storage room, pantry/under stairs area, closets), light fixtures, then of course paint and trim and who know what else. The only unknown right now is the cost of the mud/tape of the walls, and a time estimate for flooring install (we decided to have carpenter do it- I'm sure it will save our sanity if anything in the long run, given DH and I have never done before etc.

 

[Katie Little]

Advice please! Our basement flooded a few months ago and we have been slowly adding to a sinking fund to get it fixed. We have about $1300 saved and the quotes are coming in around $3000 - we are still shopping around but they’ve all been within $500 of each other so far.

If we completely pause our debt snowball in February we could be up to $2600. Would you pause the snowball and just get it taken care of? Or would you continue to slowly add to the sinking fund?

We aren’t in any hurry to get it fixed, we don’t use the basement at all.. our only concern is mold (which admittedly is a major concern). I don’t want to pause the snowball though because we are making such good progress. However if we pause it, we’ll make better progress in March and April because we aren’t setting aside $500.

 

[jen7233]

If we completely pause our debt snowball in February we could be up to $2600. Would you pause the snowball and just get it taken care of? Or would you continue to slowly add to the sinking fund?

If it were my house, I'd pause the snowball and fix the basement because of the moisture issue and possibility of mold. What sort of work do they need to do?

The next day we are discussing budget and where to cut expenses in every day life and my husband says "I feel like we have been pretty good about not spending lately". I reminded him that we just dropped $170 on a meal to see fireworks. We decided to cancel the meal. $170 saved. Then we were discussing it even more and decided to drop the Crystal Palace reservation, we can get muffins or something to have at the house and we can eat those on the way into the park and snack later. $150 (I'm guessing) saved.

Awesome savings, so pat on the back We are going in April. How many dining reservations do you have? I think I've got 5 at the moment for the entire week we are there, but mine are going to fluctuate based on what happens with FPs so I'm never really feeling locked into those type of reservations.

Well our basement is trucking along- we purchased the tub and top for around it, vanity, taps/shower, drain and all the flooring on the weekend- yikes! Flooring is so expensive, but such is right...still need to buy doors (for 2 bedrooms, bathroom, storage room, pantry/under stairs area, closets), light fixtures, then of course paint and trim and who know what else.

Now this is a good basement story! Sounds like it's coming right along.

 

[Katie Little]

If it were my house, I'd pause the snowball and fix the basement because of the moisture issue and possibility of mold. What sort of work do they need to do?

They need to put a sump pump in. So basically digging a trench into our concrete floor and putting a little pump to get rid of any water that comes in. Then, one it’s fixed we have to take down the wood paneling and seal it from the inside (already sealed it from the outside but that didn’t work apparently) and then we replace with drywall.

 

[jen7233]

They need to put a sump pump in. So basically digging a trench into our concrete floor and putting a little pump to get rid of any water that comes in. Then, one it’s fixed we have to take down the wood paneling and seal it from the inside (already sealed it from the outside but that didn’t work apparently) and then we replace with drywall.

I'd fix it. But, obviously that would put a pause on debt payoff so guess that's going to be some hard decision making.

 

[ruadisneyfan2]

I need some pats on the back for being responsible adults please...

We are going to Disney World in March for 9 days. This is our first time staying off property and not having the deluxe dining plan. We are huge foodies and love to eat at Disney so we are a little concerned about the expense of food. Yes would could eat the house we are staying at but we just don't want to (I know, I sound like a spoiled brat). We agreed to MINIMAL sit down meals and said we would use this trip to eat quick service and snacks that we never get a chance to try. We have Mama Melrose booked (the one dinner with all 21 people on this trip, can't get out of), Hollywood and Vine Pre Park opening breakfast (we get our 8 year old nephew for 4 days- he has a crappy home life an we try to make up for that as much as we can when we see him, so this is to get in early to sign up for Jedi Training), Crystal Palace Pre Park opening breakfast, California Grill Brunch (my nephew loved this last time (as did we) and we are treating my mom and her husband to this as a thank you for renting the house and inviting us along), and snacks at Beaches and Cream.

We were watching some videos and saw that there is now an Illuminations dining package at Rose and Crown for $85 per person. We have never stayed for Illuminations and had said we would make sure to see it in March before it left. So of course we booked it (I know, you are wondering where the responsible part comes in).

The next day we are discussing budget and where to cut expenses in every day life and my husband says "I feel like we have been pretty good about not spending lately". I reminded him that we just dropped $170 on a meal to see fireworks. We decided to cancel the meal. $170 saved. Then we were discussing it even more and decided to drop the Crystal Palace reservation, we can get muffins or something to have at the house and we can eat those on the way into the park and snack later. $150 (I'm guessing) saved.

I feel so adult and responsible.

Yay! Be strong!
When our kids were young we used to rent vacation homes in Kissimmee and we found that breakfast was the easiest thing to do at the house and it's cheap. Even if you pack a box of cereal, instant oatmeal, bagels or something simple, it is a huge savings over a Disney character breakfast. Dh likes a big greasy breakfast, like bacon, egg & cheese on an English muffin. He never minds doing the cooking and he can do that while I shower. It's his favorite aspect of us renting DVC points these days and having a kitchen.

When going out for breakfast, no one eats until everyone is dressed & out the door which can really be a pain when traveling with kids. Also it's really inconvenient to return to the house to make lunch or dinner so breakfast was always our "at home" meal.

 

[ruadisneyfan2]

Advice please! Our basement flooded a few months ago and we have been slowly adding to a sinking fund to get it fixed. We have about $1300 saved and the quotes are coming in around $3000 - we are still shopping around but they’ve all been within $500 of each other so far.

If we completely pause our debt snowball in February we could be up to $2600. Would you pause the snowball and just get it taken care of? Or would you continue to slowly add to the sinking fund?

We aren’t in any hurry to get it fixed, we don’t use the basement at all.. our only concern is mold (which admittedly is a major concern). I don’t want to pause the snowball though because we are making such good progress. However if we pause it, we’ll make better progress in March and April because we aren’t setting aside $500.

If you're the homeowner I would definitely pause the snowball and fix the moisture issues. Mold can make you really sick and once winter is over and warm weather moves in, that mold will grow big time. To me it's not worth having the possibility of added cost in repairs (mold remediation), or possibly more damage to your home & health.
We were saving for a roof ($9000) when I first read about snowballing and I was all excited to start because the roof didn't seem urgent but then one section started leaking into the garage. Dh could patch it but he said it's not a real fix and won't last so get in high gear with saving for a roof. He also said how the longer we wait, the higher the chances are that some of the plywood under the shingles would need replacing which makes it even more expensive. Sigh... I felt like I got squashed before I even got started but I knew he was right.
If only we knew that 3 yrs later that new roof would get crushed by a tree, I would have held out!

 

[ruadisneyfan2]

Speaking of staying strong, I was able to resist buying a car and taking out a loan for it!
I was so tempted yesterday after stumbling onto this. I have just under $15k saved and I'd borrow $2K from dh's slush fund so really not a lot to finance after I trade in my car. They were closed yesterday and we were planning to go today because we're off for MLK but then dh got called into work for an emergency. Double time and half is never turned down.
I wanted an Acura RDX for the longest time until I just heard this weekend that premium gas is recommended and that's a deal breaker for me. Lincoln is nice but I always felt they were geared toward old people until a coworker who's my niece's age said she has one and loves it; it's her 4th one. Part of me wants to splurge on a higher trim level, part of me says wait until I have it all saved to start looking. You can't unsee what you already saw.

 

[barkley]

Advice please! Our basement flooded a few months ago and we have been slowly adding to a sinking fund to get it fixed. We have about $1300 saved and the quotes are coming in around $3000 - we are still shopping around but they’ve all been within $500 of each other so far.

If we completely pause our debt snowball in February we could be up to $2600. Would you pause the snowball and just get it taken care of? Or would you continue to slowly add to the sinking fund?

We aren’t in any hurry to get it fixed, we don’t use the basement at all.. our only concern is mold (which admittedly is a major concern). I don’t want to pause the snowball though because we are making such good progress. However if we pause it, we’ll make better progress in March and April because we aren’t setting aside $500.

homeowner's insurance is'nt covering any part of it?

if it were me i would pause b/c in my experience the cost of construction/repairs only goes up the longer it gets put off. the other issue is-if you can get someone in now and get it done you will likely get it done on a faster timeline. don't know what it's like where you live but around here we have a window of time each year when construction is in high demand (good weather, non frozen ground) such that late spring/summer jobs are booked the fall the year before. if you can get it done now you may prevent a many months long wait.

 

[Sadeesmom]

I lurked most of last year trying to get a handle on myself before joining in, but it never happened, so joining in this year hoping this will help keep me accountable/motivated. I have a spending problem; I can readily admit it, but am having issues controlling it. I grew up in a household with a spending problem and grandparents that always bailed us out. As an adult (single mom), I have the same problem but no one to bail me out.

My debts:
Mortgage - $57,832.80
Car loan - $4,146.26
Credit card #1 - $9,135.50
CC #2 - $0
CC #3 - $4,200
CC # 4 - $2,508.33
Orthodontist - $135/mo

The ortho and the car will be done in October, so that should free up a little bit.

CC4 actually has the lowest interest rate, but with the next lowest balance (I did manage to pay off CC2 yesterday), that is my next goal. I have read all about both of the snowball methods and phsycologically, I think tackling the smallest balance first will be best for me, but like I said, I have a spending problem. I hate to cook, so eating out is my biggest fail. I also feel guilt (stupid but true) when I walk into a store, I can’t walk out empty handed. I really am a homebody, but end up going out and about with family more often than I should.
I don’t smoke, don’t drink, don’t have to wear the latest fashions, don’t have cable. I really can’t figure out where my money goes, but I built a spreadsheet this morning to track every penny I spend (this shouldn’t be too hard as I keep all my receipts for Fetch, Receipt Pal, Receipt Hog, Coinout, Ibotta, Trunow, and Checkout 51 anyway). Anyway....here’s to regular checkins and better results by end of 2019-Happy New Year everyone!

Some of you were on here talking about Dave Ramsey, and I got curious and started reading a few things on him and joined a super strict Facebook group of his and decided to dump my savings onto my debt. I just went from ~20k in debt to only owing on my mortgage (but now I’m savings-broke!). I’m still not completely sure how I feel about it, but mathematically it made sense. I also cut up all of my credit cards and closed the accounts (because I have no self-control). I’m sure my credit score is about to drop, but according to his method, you don’t eventually need a score anyway. I bought a brand new car last year and already have my mortgage, so should be good to go. Now just to rebuild my savings and get the house paid off!

On the accountability front, I have spent $7.66 at Dairy Queen, and $8.36 at McDonalds because my kid was hungry and I wasn’t and didn’t want to cook dinner....I’m doing great at most of the no spending (haven’t even been on a real restaurant’s property or in Target or the mall), but fast food is killing me!

 

[DnA2010]

Not me, my husband. Yes, he will be 41 when he retires from the military. The pension payments start immediately, with annual cost of living raises. As the calculation goes, if he collects the pension for 40 years, they will pay out approx $4M before taxes. Very low cost health insurance for life for him and all his dependents is also part of the package. If he lives beyond 81, the payments just keep going, so potentially, it is worth even more. As his spouse, if he passes before me, I will continue to collect 55% and keep the health insurance benefits, unless I remarry before age 55. It's a sweet deal for sure, but not many military make it the full 20 years, and he is a fairly high ranking officer, so it's a very good monthly pension payment.

Just 17 more months to go!

Wow that's amazing, that you can get a full pension at 41! I'm not going to pretend I know anything about the military (I'm from north of the border and well ya) but that's great, I didn't realize that most people don't stay with it, sounds like quite an achievement. I bet it will be quite life changing for you both when he's done!

 

[DLgal]

Wow that's amazing, that you can get a full pension at 41! I'm not going to pretend I know anything about the military (I'm from north of the border and well ya) but that's great, I didn't realize that most people don't stay with it, sounds like quite an achievement. I bet it will be quite life changing for you both when he's done!

Only about 17% of military members make it to 20 years and earn the retirement package. It is quite an accomplishment. I am very proud of my husband.