Debt Dumpers 2021

[ruadisneyfan2]

Ah, yes, the savings for house down payment. I've been doing that also a long time renter saving for our "retirement" house. Although, I personally don't commit to the term "forever house", not for me. Just thinking of forever homes, sorry! Not that you said it, I just have it on the mind. If we stay, our budget is going to be $750k-$850k (in DC area) but not a new build. I don't really want to, but high schooler and job market, so there's that. If we don't, then we'll start the process in two years, look into south or west (no confirmed place, just more so ideas) and entertain the new build process which I'll give a year to, then our budget will be about $400k in some of the areas we're considering. Adjusting for how the market is looking in two years, that is.


It's a good feature and way to see the goals process. Currently I just have everything together, I go back and forth with the tools or my savings ideas. We are also projected to retire in 2023. It will be interesting to see when Disneyland makes the opening date announcement!

Interesting note, I saw on Doctor of Credit the Federal Reserve permanently lifted the six withdrawals per month rule on savings accounts. Bank dependent still.

I am so glad the Feds stopped that silly rule. It never made sense to me to regulate that. If you need your money from the bank, you need it.

 

[PhoenixStrength]

Well, my car was officially declared a total loss today, so have to start looking for a new vehicle in earnest. I've been looking lightly, getting ideas for cost and what vehicle models I'd want to look more into, but now I need to make more concrete decisions. Trying not to stress about the added debt, and instead look forward to having a vehicle I am picking, with the features I want. My last car was a gift from my MIL and FIL when I needed one and they were getting rid of one of theirs, and while I appreciated it so much and it was a fine car, it was not what I would have picked. I did already get pre-approved for a car loan thru USAA, who we use for banking and car insurance already, and it's at a better APR than we expected so that helps.

 

[webcreatrix]

Well, I had a not so great day. I went to the orthodontist thinking I'd be getting my braces off. Not yet! But even worse, they said I owed $2200 before I get my braces off. They had quoted me $1500 November 2019 and I had been making interest free payments by automatic payment. I switched banks last May and when I went in I gave them my new card and they took a payment, but didn't set up the payment plan with the new card. I never noticed they weren't getting payments and they never notified me? And then a portion of what they said insurance would cover, is not being covered by insurance. So... I guess I am glad to be getting an income tax return before I see them next time. I thought I had fun money! I have three weeks to check insurance benefits, dig up my signed payment plan, and talk to their billing.

 

[jen7233]

Well, I had a not so great day. I went to the orthodontist thinking I'd be getting my braces off. Not yet! But even worse, they said I owed $2200 before I get my braces off. They had quoted me $1500 November 2019 and I had been making interest free payments by automatic payment. I switched banks last May and when I went in I gave them my new card and they took a payment, but didn't set up the payment plan with the new card. I never noticed they weren't getting payments and they never notified me? And then a portion of what they said insurance would cover, is not being covered by insurance. So... I guess I am glad to be getting an income tax return before I see them next time. I thought I had fun money! I have three weeks to check insurance benefits, dig up my signed payment plan, and talk to their billing.

yikes!

Well, my car was officially declared a total loss today, so have to start looking for a new vehicle in earnest. I've been looking lightly, getting ideas for cost and what vehicle models I'd want to look more into, but now I need to make more concrete decisions. Trying not to stress about the added debt, and instead look forward to having a vehicle I am picking, with the features I want. My last car was a gift from my MIL and FIL when I needed one and they were getting rid of one of theirs, and while I appreciated it so much and it was a fine car, it was not what I would have picked. I did already get pre-approved for a car loan thru USAA, who we use for banking and car insurance already, and it's at a better APR than we expected so that helps.

Rates seem pretty good at the moment, good luck on the car search.

 

[4 Ears]

So pleased with ourselves today. Made a HUGE payment on that pesky loan and cut it in half. Should be able to pay it off next month, still on track for 16 months early!

 

[CaleCakes]

January Month End Updates:

° Discover balance $6,311 Done in January

° AMEX balance $8125- Current Balance $3558

° Start a Roth IRA for myself. Picked a plan but still need to open account.

°Keep money in savings! Ended up with flat tire needing replacement. Decided to have needed 100k mile work done at the same time. Picking vehicle up today but I believe the total is $1968 I'll put this on Disney Chase for points then pay from savings. More on the car below...

°Purge the garage- work in progress. Sold a double stroller for $75... but then spent the money on TexMex for dinner the same night . Made room in the garage though!

°Eat better and drop a few pounds- 0/20 I don't really want to talk about it lol

° August 14-22 at Copper Creek in a 2 bedroom villa for $6444. $200/6444. 6 day hopper $1204/1204. Went with SW on the way there because the timing worked better so $248/$248. JetBue on the way back so $0/$0 (had travel credit for fees). Still no real budget here as it is still coming together with several "maybes". Total spent vs. paid so far $1652/$7896.

°Landscaping-Some action here- A friend and her husband do custom home construction. I got a quote from the company they use for $7k for retaining walls, 6 raised circular planters, dirt and some sod, and also to trim several trees in the front. I think this is more than reasonable and booked them right away! Still waiting on his other guy for a price on irrigation and plants.

°Other things on my mind:
-Got the taxes done and don't have to pay Actually getting a substantial refund from Feds however it does bump us out of the next stimulus if that happens. Maybe we should have waited but oh well it's ok.
-House refinance- Done! 2.8%
- I want to look for a new job. Still chugging along in my current job. I have been working a little smarter than harder streamlining a few projects and it seems to be working in my favor as far as stress level.
-Booked a mini getaway for Easter to the Gaylord Texan in Grapevine. We went to Grapevine last November and stayed at Great Wolf Lodge which is across from Gaylord but Gaylord looks so nice I've been wanting to go. And Grapevine is super cute with the main street and train depot. So we will go for 2 nights April 2-4, go to Dallas to see the sights then do some activities around the hotel including the Easter Brunch which is a ridiculously expensive ($85 per adult) in my opinion but I hope worth the experience. The room had a discount so for 2 king rooms for 2 nights it comes to $948 (paid). I haven't booked the brunch or other activities yet (need to see DH's work schedule first). We will drive and it's about 4 hours.
-Speaking of driving... I am still on the new vehicle kick. With the work I just had done to my Pilot and it's high miles (103k and it's a 2016), we have decided to look into trading in DH's 2019 Tiguan instead. We are going tomorrow to see a few Expeditions and I am hoping with trading in DH's vehicle which has a ton less miles and a ton more equity. The trade in and a dp of 10K we should be in decent shape for monthly payment. This may be a dream but I am hopeful. I think a larger SUV with really serve us well. I found the dealer through the Costco Auto Program- so thank you for all of those that responded about Costco renewals- no promo code so I renewed at full price.

That's all for now. Have a great weekend everyone!!

ETA- updated price of car repairs

 

[imbatman]

Well, my car was officially declared a total loss today, so have to start looking for a new vehicle in earnest. I've been looking lightly, getting ideas for cost and what vehicle models I'd want to look more into, but now I need to make more concrete decisions. Trying not to stress about the added debt, and instead look forward to having a vehicle I am picking, with the features I want. My last car was a gift from my MIL and FIL when I needed one and they were getting rid of one of theirs, and while I appreciated it so much and it was a fine car, it was not what I would have picked. I did already get pre-approved for a car loan thru USAA, who we use for banking and car insurance already, and it's at a better APR than we expected so that helps.

Just going to plug the new hybrid Rav4! My average MPG is 40.6. I'm still figuring out all of the buttons, but the seat warmers are my happy place.

Sold a double stroller for $75... but then spent the money on TexMex for dinner the same night

No judging here. That's money well spent!

 

[barkley]

°Landscaping-Some action here- A friend and her husband do custom home construction. I got a quote from the company they use for $7k for retaining walls, 6 raised circular planters, dirt and some sod, and also to trim several trees in the front. I think this is more than reasonable and booked them right away! Still waiting on his other guy for a price on irrigation and plants.

that is an excellent quote. we are having 2 trees removed and paying just over 2K but as i told dh-it's less than our homeowner's deductible which is what will come into play if one falls on the house.

 

[RamblingMad]

that is an excellent quote. we are having 2 trees removed and paying just over 2K but as i told dh-it's less than our homeowner's deductible which is what will come into play if one falls on the house.

I have three scheduled for removal next month for about $2k. One of them in the screwing up my irrigation, and the two others are too close to my house. No idea why the previous owner planted these trees.

 

[barkley]

I have three scheduled for removal next month for about $2k. One of them in the screwing up my irrigation, and the two others are too close to my house. No idea why the previous owner planted these trees.

mine were here for decades before anyone thought to build but i don't blame the original builders for leaving them in place-i love them both and would keep the forever but it's just too much of risk given their height and the proximity of the house (shortest is over 50 feet tall).

 

[RamblingMad]

mine were here for decades before anyone thought to build but i don't blame the original builders for leaving them in place-i love them both and would keep the forever but it's just too much of risk given their height and the proximity of the house (shortest is over 50 feet tall).

Mine are all about two stories tall.

Are you having the stumps ground?

 

[barkley]

Mine are all about two stories tall.

Are you having the stumps ground?

yes. they will take away all the branches and cut the trunks into 'manageable' portions to create firewood. not having a wood burning fireplace to use it i think i've found a local charity that may take it.

 

[RamblingMad]

yes. they will take away all the branches and cut the trunks into 'manageable' portions to create firewood. not having a wood burning fireplace to use it i think i've found a local charity that may take it.

You can get a firepit at Home Depot and do smores.

 

[jackers]

That’s a lotta s’mores.

 

[StephMK]

Hi, I posted at the beginning of the year and have been reading. It's very motivating to read about everyone's progress.

We're finally in a position to start throwing money to pay stuff off. My last van payment went out 3/1 and hoping to keep DH's running another year or so. We've got one in college heading into her senior year. DS took a year off so he's got 3 left.

Are cards still offering balance transfer deals? With a chunk of money, I can either pay off a few smaller bills or throw it all to Discover. I would choose Discover if it is likely they will offer some type of 0%transfer deal. I wasn't sure if cards quit doing that or not. If they do, then I could move the little bills over on a low interest deal.

Any suggestions or advice greatly appreciated!

 

[DLgal]

Hi, I posted at the beginning of the year and have been reading. It's very motivating to read about everyone's progress.

We're finally in a position to start throwing money to pay stuff off. My last van payment went out 3/1 and hoping to keep DH's running another year or so. We've got one in college heading into her senior year. DS took a year off so he's got 3 left.

Are cards still offering balance transfer deals? With a chunk of money, I can either pay off a few smaller bills or throw it all to Discover. I would choose Discover if it is likely they will offer some type of 0%transfer deal. I wasn't sure if cards quit doing that or not. If they do, then I could move the little bills over on a low interest deal.

Any suggestions or advice greatly appreciated!

Yes, many cards are still doing 0% balance transfer offers. Most will charge anywhere from a 3-5% balance transfer fee.

 

[PhoenixStrength]

Just going to plug the new hybrid Rav4! My average MPG is 40.6. I'm still figuring out all of the buttons, but the seat warmers are my happy place.

The Rav4 Hybrid is actually one of the options I'm looking at! It was actually already on the short list for options as I was thinking about getting a new vehicle in about 18 months anyway, and seeing your posts about it made me look into them even more. Wouldn't be a new one though with our budget, so we are looking at ones a few years old. Settlement for my car should hit our account Monday, and I have a few specific ones I've been eyeing on the dealership's website but trying not to get too attached and have them sell before we get over there.

 

[CaleCakes]

So I had to mentally slap myself back to reality last night after paying for my car repairs. I had serious browsers remorse even considering adding potentially 70k debt just for a vehicle I "want". Here I am on a debt dumpers board airing my debt skeletons, so close to being out of CC debt, and I want a new car? Umm no. So needless to say I slammed the brakes on car browsing, shopping, and dreaming. My vehicle is just fine. I'll be scratching new vehicle off my next check in.

 

[pblack]

So I had to mentally slap myself back to reality last night after paying for my car repairs. I had serious browsers remorse even considering adding potentially 70k debt just for a vehicle I "want". Here I am on a debt dumpers board airing my debt skeletons, so close to being out of CC debt, and I want a new car? Umm no. So needless to say I slammed the brakes on car browsing, shopping, and dreaming. My vehicle is just fine. I'll be scratching new vehicle off my next check in.

Bravo to you!! Thats amazing that you were able to rethink your decisions and stick with your plan.

 

[Nettlelondon]

In the UK new cars are frequently leased rather than bought - a small down payment, 3 years of payments and then the car is either returned or a larger balloon payment is made to buy the car. When these were first introduced the car was likely worth considerably more than the balloon payment so that became the deposit for the next car and so on - effectively you just rented a car for three years and then changed it.

3 years is the standard term because after 3 years you have to have your car MOT tested (an annual road worthiness test that covers mechanical issues, levels of rust, emmissions, safety and so on) and this was tradtitionally a bit of a pain but it less so now cars are more reliable.

Leasing was introduced as it kept monthly payments down - we tend to only finance cars over 3 maybe 4 years here, not the 6 or 7 that appears to be standard in the US - and to keep you tied in to the particular car brand as you tend to get best value on your trade in against the same brand.

Our car is due to go back at the end of this year. The dealership were a complete nightmare at the time that we bought it, the transition from one lease to the next was an absolute mess and I had to find £8000 at very short notice for a few days while things got sorted, the new car was delayed by several weeks meaning we had to cancel various plans whilst they tried to source a loan car for us to cover the gap caused by their incompetence, and the car wasn't as expected when it did arrive due to some smoke & mirrors in the descriptions used by the salesman. I take some responsibility for that final part - I should have been more thorough in my research.

As a result of the mess at the start I have never liked this particular car and have been looking forward to replacing it. But yesterday DH and I had a sensible converstion about replacing it. We have been thinking about moving to a plug in hybrid but the logistics of where we live mean that we can't at present have a charging point at home. We have also done only about 25% of our normal mileage over the last 12 months so the car has not done that many miles and the way the next few months look I don't see it getting much higher. The sum total of this is that we have decided we will probably keep this car, borrow the balloon payment from ourselves by using some savings and then sit back and watch what happens with the hybrid market (and charging options) over the next little while as it seems to be changing very rapidly at the moment. And the money we don't need to pay for the lease can replace the savings and build a deposit for a new car when we feel ready or things change again.