Debt Dumpers 2020

[pblack]

Is there any disadvantage to just buying both tickets through Chase and applying point to cover the cost of 1 ticket? I normally do things like this all the time but there's so much uncertainty in the world these days.

I dont think I'm able to transfer over my american airlines points to chase. I have just enough american airlines points to cover 1 ticket. And I have more than enough chase points to cover the other. I'd like to use up the rest of my american points since they arent our go to airline.

 

[jen7233]

I have a question I'm hoping someone will be able to answer. I'm considering booking my return flights from orlando in November on American airlines. I'd have to book mine and my husband's ticket separately (one through american, one through the chase portal) due to the amount of miles I have. My concern is that if theres some kind of change with our flight, they wont move our reservations together since they arent linked. Does anyone know if american is able to link 2 reservations? Any other issues with this that I'm not thinking of?

I don't think they would link the two, as they would be on different confirmation/reservation numbers since bought separately, correct? I can't think of anything else except that right now. Interestingly, we had a flight change and cancellation I just got fallout on!

My placeholder July SW trip to and from MCO was cancelled on the return leg by SW (this July trip was the situation created from the fallout April WDW trip cancellation with the suggestion by SW at the time prior to the latest SW policy extended travel funds). Getting a LUV voucher in 10 days via email on the EBCI so that'll be good until May 2021. I had planned on waiting until right before and cancelling, so we could travel late June/early July 2021 when kids "may" be out of school (no clue what next school year even looks like, right?) and use that LUV voucher as it's apparently only good a year, presently. Would be great if they extend that expiration policy on LUV vouchers longer than 12 months. So that was the return leg from MCO, on one confirmation number. Now need to do something with the flight TO MCO, but that also had an EBCI attached to it, so waiting until July 1st to cancel unless SW cancels it earlier on me.

Now, have still to decide if we will go in August to WDW. These flights were for the cruise that we cancelled, but just ended up shifting the WDW area hotel from April to August. Those were booked with American on the way there with points but were those web-saver special. The way back was on SW with RR points and EBCI. Undecided but leaning towards not going.

 

[Tygerlilly]

So, we made a radical decision earlier this week to take advantage of the reduced 10% fee instead of the normal 40% to cash out some of DH's 401k. With all the uncertainty going on lately, we wanted to be able to get debt gone After and quickly bulk our savings. After the fees, we will have enough to completely pay off all debt we have (car, loans, credit cards).
By doing this, we free up $1,500 a month in funds. We will now finally be able to meet the 6% company match for both of our 401ks and really grow both accounts. In the grand scheme of things, the $15k we took out isn't too much in the big picture, but is a life saver right now. One advantage we have is that I'm 14 years younger than DH, so while he may retire, I will still have a lot of years to continue working.
Plans for the new "extra money" each month will be split 3 ways between a general savings account (all our sinking funds), a house fund (to buy eventually), and retirement savings (not sure where/what yet, and separate from the 6% payroll deduction).

 

[pblack]

I don't think they would link the two, as they would be on different confirmation/reservation numbers since bought separately, correct? I can't think of anything else except that right now. Interestingly, we had a flight change and cancellation I just got fallout on!

They would not have the same confirmation number, you’re correct. But I know with cruises or even Disney, if you have two parties going under two different confirm you can have the company link them together.

 

[imbatman]

So, we made a radical decision earlier this week to take advantage of the reduced 10% fee instead of the normal 40% to cash out some of DH's 401k.

Was this announced by his 401(k) plan? My plan hasn't said anything and I'd love to be out of that plan (invested early on without knowledge and it's a horrible plan with horrible administration).

 

[Tygerlilly]

Was this announced by his 401(k) plan? My plan hasn't said anything and I'd love to be out of that plan (invested early on without knowledge and it's a horrible plan with horrible administration).

Yes. It was announced through work and when you go to cash it out, you file it under the covid act (which we were struggling because hours at work have been reduced for both of us), that's what brings it down to 10% instead of 40%.

 

[imbatman]

Here is the link for anyone else interested in the 401(k) cash-out information from the IRS: Coronavirus relief 401(k)

 

[dayvewc]

Talk about being on the edge. I got my results from my Income Drive Payment plan application re-certification today. Last year, I did not make enough to have to pay anything. My annual increase for the year amounted to about $50 a month increase. After the re-certification, they determined that I can now afford to pay $34.75 a month on my student loans. I'm glad they are in automatic COVID forbearance for a few more months. Give me a chance to balance the bills out to make the payment. I can, I just wasn't expecting it. And I'm really hoping that by the end of the summer, I'll have a couple of other things paid off and thing settled with the VA.

 

[imbatman]

Yes. It was announced through work and when you go to cash it out, you file it under the covid act (which we were struggling because hours at work have been reduced for both of us), that's what brings it down to 10% instead of 40%.

Thank you for posting this! I'm going to get out of this crazy fund and completely pay off one CC!!! The other will still be paid off by the end of the year and then, by the grace of God, we'll be debt-free and able to tackle our ROTH and savings at full tilt next year!

**edit** For those worried about me pillaging my 401(k), I am also vested in two pension funds and have a ROTH.

 

[Beachmom0317]

Just checking in. My days are def blurring together! I can echo what PP said about how Staying home with kids has def reduced our expenses. We’ve paid off a lot. Hubby is essential and unaffected with income and job. We live in MA and are under stay at home advisory until 5/18 but I suppose it doesn’t matter for us since I think I’ll just be home for the time being with kiddos anyways. I did online order a little during this last pay period. Bought some books on amazon for kids (Really hope library opens soon!) and some birthday presents for our daughter who turns 4 next month. Online ordering def made our checking account cut close to next paycheck so I will nix that behavior immediately lol!

 

[jen7233]

They would not have the same confirmation number, you’re correct. But I know with cruises or even Disney, if you have two parties going under two different confirm you can have the company link them together.

I never had a situation where I've needed to link, but good to know.

 

[Tygerlilly]

Thank you for posting this! I'm going to get out of this crazy fund and completely pay off one CC!!! The other will still be paid off by the end of the year and then, by the grace of God, we'll be debt-free and able to tackle our ROTH and savings at full tilt next year!

**edit** For those worried about me pillaging my 401(k), I am also vested in two pension funds and have a ROTH.

Glad I mentioned it then!

We kind of figured that right now, we won't miss the 15k we took out, but we WILL notice having everything paid off finally. We will easily be able to repay that within the 3 years if we want to.

 

[ruadisneyfan2]

I dont think I'm able to transfer over my american airlines points to chase. I have just enough american airlines points to cover 1 ticket. And I have more than enough chase points to cover the other. I'd like to use up the rest of my american points since they arent our go to airline.

Chase points can be converted to AA miles. Would you have enough miles then to buy 2 tickets directly from AA?

 

[pblack]

Chase points can be converted to AA miles. Would you have enough miles then to buy 2 tickets directly from AA?

How do I transfer them from Chase to AA? They aren't listed as one of their travel partners, so I didn't think I'd be able to do it this way.

 

[ruadisneyfan2]

How do I transfer them from Chase to AA? They aren't listed as one of their travel partners, so I didn't think I'd be able to do it this way.

We are talking about Chase Ultimate Rewards correct? If so you log in and click on transfer to travel partners.

Strange, I am doing a mock attempt and AA is not listed. They used to be. I also have noticed AA no longer allows members to cash out miles to buy gift cards. Maybe this is COVID related changes?
Your dilemma would be good to post on flyer talk or the transportation board on disboards.com

I would start though with calling AA and asking them if they are able to link your reservations. I had to do that in the past with US Airways. We'd book all 4 of us using miles, choose seats, then they'd make some minor change or give it a new flight number and reassign seats with the 4 of us scattered all over the plane. When I called, I was told that in the future to call and have us linked so that any changes that are made, we will be changed together, seated together, etc.
I'm guessing this happens a lot with award flights.

 

[pblack]

We are talking about Chase Ultimate Rewards correct? If so you log in and click on transfer to travel partners.

Strange, I am doing a mock attempt and AA is not listed. They used to be. I also have noticed AA no longer allows members to cash out miles to buy gift cards. Maybe this is COVID related changes?
Your dilemma would be good to post on flyer talk or the transportation board on disboards.com

Yep Chase Ultimate Rewards. I just figured they weren't listed since American is co-branded with Citibank. I know that AA has changed the way the way you use points for flights (now requiring way more points than they did when I first got this card a year ago), maybe those were two changes that happened with the rewards change?

I'll go look at those other threads, thanks! Appreciate the help.

 

[Tygerlilly]

With the meat shortage happening, we decided to go ahead and buy a 1/4 cow. We'll get ground beef, 3 kinds of steaks, and roasts. Hanging weight is around $100lbs at $5/lb, so for $500 we are going to have a freezer full of beef come July. I'm also impressed that processing and packaging was included with that!

If you have a local ranch, it is definitely worth it to inquire about purchasing 1/4-1/2 of beef, pig, or chickens. So much cheaper in the long run and so yummy!

 

[barkley]

With the meat shortage happening, we decided to go ahead and buy a 1/4 cow. We'll get ground beef, 3 kinds of steaks, and roasts. Hanging weight is around $100lbs at $5/lb, so for $500 we are going to have a freezer full of beef come July. I'm also impressed that processing and packaging was included with that!

If you have a local ranch, it is definitely worth it to inquire about purchasing 1/4-1/2 of beef, pig, or chickens. So much cheaper in the long run and so yummy!

i would do this in a heartbeat if one of the ranches around me offered long term meat storage as well. my full size freezer couldn't handle all that meat in addition to the other regular items i keep in it and my whole house generator only has so much capacity so getting a second full freezer isn't an option.

 

[SirDuff]

I have a question I'm hoping someone will be able to answer. I'm considering booking my return flights from orlando in November on American airlines. I'd have to book mine and my husband's ticket separately (one through american, one through the chase portal) due to the amount of miles I have. My concern is that if theres some kind of change with our flight, they wont move our reservations together since they arent linked. Does anyone know if american is able to link 2 reservations? Any other issues with this that I'm not thinking of?

You should be able to link them. I've done it before (though never with American Airlines). You just call and give them both locator numbers and they link them. Things like online check-in aren't link, but they should keep you together if there are flight changes/cancellations.

 

[pblack]

You should be able to link them. I've done it before (though never with American Airlines). You just call and give them both locator numbers and they link them. Things like online check-in aren't link, but they should keep you together if there are flight changes/cancellations.

Thank you!