Debt Dumpers 2020

[barkley]

Putting the last of it down tonight and trying to decide if I should run the extra up the hallway (which I think is highly likely).

when you install make sure to keep a small scrap of the flooring so that if you decide down the line to paint or do any changes to cabinets, counters....you can take a sample of the flooring to those stores to coordinate vs. having to bring samples HOME. when we bought our house i found a few extra ceramic tiles of each type used along with a spare cabinet door that the builder left in what i think he meant as a discard pile in the crawl space (but never got around to tossing). i held on to them and have them stored with a small piece of our home's carpet and paint samples from all the rooms. it made selecting our new counter tops much easier (our granite guy said we were the only customers who didn't have to take samples/go home/get more samples/go home to make a selection).

 

[imbatman]

when you install make sure to keep a small scrap of the flooring

Great minds--I already have a piece in my purse!

 

[imbatman]

I'm walking like I'm 96 years old today, but this was worth it! (please ignore the chaotic countertops...it's a rough go with a partial kitchen for 5 days)

 

[pblack]

Great job @imbatman!

 

[PhoenixStrength]

@imbatman those floors are gorgeous! Great job!

 

[crazycatstacy]

why is it so hard to stay motivated?!! I want to pay off debt but I want things! We are plugging along. No big changes really. I am on vacation for a week in two weeks but it is a staycation. We will stay in our area, go to the lake and such. We do plan on spending one day driving to the neighboring state to go to Devils Tower so still a social distancing activity.

 

[imbatman]

I'd like to ask you all for some advice. DH's unemployment claim was accepted. This means I'm still on track to pay off the first CC by December. I've contacted my insurance company and I'm nearly at the out of pocket maximum for the year. This is good since I have surgeries coming soon. My question: I do have a small emergency fund of $1500. I also have $500 cash in my safe. Now that the unemployment has kicked in for DH, should I be more aggressive in paying off the first CC? I can probably have it paid off in October because I will be utilizing my sick leave when I'm off work (and working from home).

We are canceling our Star Wars Celebration since it's two days before my big surgery. Also, I don't think Anaheim will be up and fully functioning by then. That is crushing because we both wanted to go so badly (and squeeze in a trip to DL). So those funds are freed up. The only vacation we are planning is a few days to visit my sister on July 4th. So...$100 for gas and $100 extra on fireworks? Because we are big kids and like the boom.

Just trying to walk out the possibilities before I slap down an extra payment that I have in the bank. It would be a lot off of my mind to have one card paid off sooner. But wisdom needs to prevail.

 

[pblack]

@imbatman I guess it would depend on if you think/know your DH will be back to work full time before/when the unemployment ends. If hes gonna be back to work, I'd say pay off the credit card. If hes not, and you cant make it work on your income alone, id save as much as you could to help cover bills down the road. Or you could do some of both.

 

[barkley]

i would be more inclined to save just b/c there have been HUGE issues with different states and their administration of unemployment benefits. people will get a claims approved and paying then some glitch comes up with the state system and benefits get delayed in issuing. with the surgery coming up i think it's also nice to have a bit more of a cushion in savings just b/c you never know if some odd or end may come up that might entail an unexpected co-pay or something you just want to make recovery more comfortable that's no covered. better to have the money on hand and if it's not needed by the time your dh goes back to work then you pay in full at that point.

 

[PhoenixStrength]

I'd like to ask you all for some advice. DH's unemployment claim was accepted. This means I'm still on track to pay off the first CC by December. I've contacted my insurance company and I'm nearly at the out of pocket maximum for the year. This is good since I have surgeries coming soon. My question: I do have a small emergency fund of $1500. I also have $500 cash in my safe. Now that the unemployment has kicked in for DH, should I be more aggressive in paying off the first CC? I can probably have it paid off in October because I will be utilizing my sick leave when I'm off work (and working from home).

We are canceling our Star Wars Celebration since it's two days before my big surgery. Also, I don't think Anaheim will be up and fully functioning by then. That is crushing because we both wanted to go so badly (and squeeze in a trip to DL). So those funds are freed up. The only vacation we are planning is a few days to visit my sister on July 4th. So...$100 for gas and $100 extra on fireworks? Because we are big kids and like the boom.

Just trying to walk out the possibilities before I slap down an extra payment that I have in the bank. It would be a lot off of my mind to have one card paid off sooner. But wisdom needs to prevail.

i would be more inclined to save just b/c there have been HUGE issues with different states and their administration of unemployment benefits. people will get a claims approved and paying then some glitch comes up with the state system and benefits get delayed in issuing. with the surgery coming up i think it's also nice to have a bit more of a cushion in savings just b/c you never know if some odd or end may come up that might entail an unexpected co-pay or something you just want to make recovery more comfortable that's no covered. better to have the money on hand and if it's not needed by the time your dh goes back to work then you pay in full at that point.

I agree with @barkley. Here in Maryland there are people that were approved back in March that have yet to receive a single cent of their unemployment due to some glitches in the new system being used. Not the case for everyone, and I certainly hope that won't be the case for your DH's claim, but I would wait until you at least start receiving the money before you spend any extra savings you have.

 

[barkley]

I agree with @barkley. Here in Maryland there are people that were approved back in March that have yet to receive a single cent of their unemployment due to some glitches in the new system being used. Not the case for everyone, and I certainly hope that won't be the case for your DH's claim, but I would wait until you at least start receiving the money before you spend any extra savings you have.

here in washington people HAD been getting their checks but b/c the state lost millions due to nigerian scammers and other identity thieves it's thrown a big wrench into the process and people are waiting weeks to play catch up on their benefits.

the other concern with unemployment is that there's no guarantee that the extra $600 per week is going to be extended by the feds. basic unemployment generally doesn't come near what a person's normal wages are.

 

[jen7233]

I'd like to ask you all for some advice. DH's unemployment claim was accepted. This means I'm still on track to pay off the first CC by December. I've contacted my insurance company and I'm nearly at the out of pocket maximum for the year. This is good since I have surgeries coming soon. My question: I do have a small emergency fund of $1500. I also have $500 cash in my safe. Now that the unemployment has kicked in for DH, should I be more aggressive in paying off the first CC? I can probably have it paid off in October because I will be utilizing my sick leave when I'm off work (and working from home).

We are canceling our Star Wars Celebration since it's two days before my big surgery. Also, I don't think Anaheim will be up and fully functioning by then. That is crushing because we both wanted to go so badly (and squeeze in a trip to DL). So those funds are freed up. The only vacation we are planning is a few days to visit my sister on July 4th. So...$100 for gas and $100 extra on fireworks? Because we are big kids and like the boom.

Just trying to walk out the possibilities before I slap down an extra payment that I have in the bank. It would be a lot off of my mind to have one card paid off sooner. But wisdom needs to prevail.

I'd maybe be inclined to pay it off if didn't have a huge balance that would tie up all extra cash the rest of the year. Maybe push a little extra but not everything. Maybe put some extra at it but reassess everything in two months, getting through some of the summer.

 

[ruadisneyfan2]

i would be more inclined to save just b/c there have been HUGE issues with different states and their administration of unemployment benefits. people will get a claims approved and paying then some glitch comes up with the state system and benefits get delayed in issuing. with the surgery coming up i think it's also nice to have a bit more of a cushion in savings just b/c you never know if some odd or end may come up that might entail an unexpected co-pay or something you just want to make recovery more comfortable that's no covered. better to have the money on hand and if it's not needed by the time your dh goes back to work then you pay in full at that point.

Your answer is in line with what I was thinking. It's tempting so say, "Here is this money just sitting here, and we will have unemployment coming in so we'll be ok." but there are too many unknowns to feel at ease. Having $$ in the bank is what brings a secure feeling with things are unpredictable.

@imbatman
I personally wouldn't feel comfortable paying down debt without knowing dh had steady work. It is far easier to keep setting that $ aside and after your dh gets called back to work plunk it down on debt, than to regret having paid savings to a credit card and feeling stuck and needing more to live on. You might need that $ to supplement the small amount that unemployment pays. There is only a few more weeks of the $600/week federal $. I wouldn't count on that beyond July.
At least with savings you do have the option to change your mind and put it on the debt, whereas if you pay the debt first, you don't have the option to change your mind and put it back in savings. JMHO.

 

[ruadisneyfan2]

here in washington people HAD been getting their checks but b/c the state lost millions due to nigerian scammers and other identity thieves

This sickens me. I wish I hadn't read it.
Some people are such weasels.

 

[imbatman]

Happy Monday! 193 days until Christmas!

 

[barkley]

Happy Monday! 193 days until Christmas!

funny you mention this b/c i was thinking about it this weekend. i needed to order a couple of simple, basic clothing items for my son (pajama bottoms, long sleeve henley type shirts) and (1) they are HARD to find, and (2) when you find them you are going to wait a few weeks before they can get shipped to you. we've had delivery delays in getting items during the full scale shutdowns and while things are getting somewhat better i got to thinking that if that big 'november covid wave' happens it could be difficult at best to do my christmas shopping. if they do any closings of the malls then i will be left with strictly on-line purchasing and i can't imagine what the shipping delays will be like.

i'm thinking i might start doing some christmas shopping for stuff i know for certain won't want/need for return. i'm already planning on starting to gather some canned goods, otc meds and (if/when i can find them) disinfecting wipes, hand sanitizer and the like as one gift for my dd who lives on her own.

 

[crazycatstacy]

My husband picks his vacation time this week for the rest of the year. We are hopeful to spend December 23-27 in Vegas. our daughter and son in law are going to meet us there as well. Hopefully covid doesn't mess that up. We have super cheap rooms at Harrahs. Looked at flights today and they have gone up quite a bit from a couple months ago so hopefully once he has his time confirmed we can book flights when we see a good price.

Still hoping to go to Jacksonville in September but covid will of course determine that. My nephew's mother is super covid paranoid so even if covid isn't terrible she might still want him wrapped in bubble wrap essentially so that will not be a good trip!

 

[jen7233]

We talked briefly about interest rates particularly mentioning Ally Bank back on May 11. At that time it was mentioned it dropped to 1.25%, and that it is likely to drop more.

Today I noticed it's dropped down to 1.10%.

 

[dina444444]

We talked briefly about interest rates particularly mentioning Ally Bank back on May 11. At that time it was mentioned it dropped to 1.25%, and that it is likely to drop more.

Today I noticed it's dropped down to 1.10%.

It dropped a couple of days ago. I want to say I got an email last week on Thursday or Friday.

 

[jen7233]

It dropped a couple of days ago. I want to say I got an email last week on Thursday or Friday.

I don't get emails much at all from them, main or junkmail, last time was in February. I don't log in quite that often to Ally, every two weeks perhaps. But, yes, the rate went on the predicted downtrend.