Debt Dumpers 2022

[pblack]

It may be a little early, but I thought I'd start up the debt dumping thread for 2022! Please continue to post your 2021 recaps on the 2021 board, but as you're working on your goals for 2022 post them here!

If you're new to the debt dumping thread, welcome! We're a friendly bunch who encourage each other in their wins and losses. No negativity allowed here! Most of us post a mixture of our debt dumping goals and personal goals, but it's not a requirement! Please post whatever you feel comfortable with and let us help cheer you on.

 

[pblack]

My 2022 Financial Goals:

• Pay off our Camry loan (currently sitting just under $13k)
• Continue to pay extra to our Highlander loan (especially once the Camry is paid off)
• Save an extra $1000 towards my main savings account outside of my automatic monthly transfers
• Create a cat expenses and gift expenses savings account for things throughout the year
• Save $$ for our Disneyland trip in May (most of which will be paid by our tax return), a long weekend in Mexico (maybe August, November, or January 2023...TBD), and the big family trip my in-laws want to do for their 40th anniversary (date TBD - location is tentatively Disneyland)

My 2022 Personal Goals:

• Drain our pool, get rid of the black algae issue, and repaint the pool
• Exercise consistently (I did really well for a good portion of 2021, but have kinda fallen flat the last couple months)
• Spend less money on items that we don't need.

That's all I can think of for now, but I'll come back and add other goals if I think of them.

 

[imbatman]

My 2022 financial goals:

• Continue to pay CC off each month
• Look at new CC bonuses to see if I can get free airfare for possible WDW trip in December
• Keep good records for flower business
• Put in work hours for bonuses
• Look at doubling up student loan payments—get an end game plan
• Savings to $6000 by year end, at minimum
• Outstanding debt: student loan, car loan, mortgage

My 2022 personal goals:

• Stay active. New job is at home, so this is easier…but harder when it’s hot
• Look at business model after spring and adjust so that I’m happy and profitable
• Give myself grace
• Finish new manuscript

That’s it for me. I want to simplify. There’s a measure of unknown for us without my dad and trying to figure out if we want to sell or stay, so simple is good.

 

[jen7233]

2022 financial goals:
-Save $$ for home (really keep saving, have a down payment 20% saved)
-Decide where home will be and find a realtor
-Max Roth IRA contribution in January
-Debate to increase TSP or not with pay raise

2022 other goals:
Job related:
-find another job with promotion potential
-find job encompassing skills to be competitive (currently not), or to one with positive problem solving at least some percentage of the work day
Health related:
-lower cholesterol and find a heart healthy food diet comfortable with and easy to do
-get up to date on all medical screenings
-do the medical appointments for things put off
-mental health
-work on relationships

 

[disney-inspired]

The debt free journey was on pause for most of this year but ready to refocus in 2022.

2022 Financial Goals
- Pay off $15,285.52 in Navient Federal Loans (I did pay off $4k this year)
- Max out Roth IRA contributions
- Look for a new apartment

2022 Other Goals:
Health:
- Increase physical activity to be consistent 4x a week
- Find feasible healthier eating options
- Stop need for BP meds through above items
Lifestyle
- Plan a cross-country trip now that I work 100% remote.

 

[Tygerlilly]

2021 was hit and miss. Accomplished a few things and blew others, but that's life.

2022 goals
1) Finish paying last $500 of personal loan
2) Finish last $3,500 towards Disney trip in April
3) Pay down enough of the Rogue to not be upside-down and trade it in for something we all fit in comfortably.
4) Bring savings to $2k
5) Save $1500 for summer trip to cousins wedding in May.

Personal goals
1) Lose some weight (baby and covid really killed that one)
2) Run first half marathon
3) Finish last two rooms of flooring


Ultimate massive goal:
Be able to live off one income and use the other for retirement/savings/vacations.

 

[FQLover]

Thanks @pblack. It was interesting to go back and read what I had written a year ago for my financial and personal goals. First, I did not end up having to take that 17% pay cut. Yay! I had to take on some extra work for a few months, instead, but it worked out okay.

Therefore, I ended up paying off my 4K car note after all. That felt good. I did keep saving in all my named buckets, and I did have more medical expenses than I ever have had in a year (lots of breast films and a biopsy, followed by an ER trip and lots of tests while in there for Covid). My dog did have that expensive surgery, and I had a dental crown, so my bigger savings plan for the last two years really helped out with all that. We did go on a delayed vacation and it wasn't cheap, but it was a bust (Red Tide and days of storms in Siesta Key)--but the vacation money was there so no debt over it.

This year taught me that lots of crappola can come down the pike unexpectedly, and so my 2022 plan is to keep on saving as much as I can before I retire in 2-3 years. Groceries and take-out continue to be where I have budget "fluff" and I can do better with that. Meal planning and sticking to it--not a strong suit of mine.

I need to learn a lot about our retirement benefits (which have all gotten a big kick in the pants, permanently, this year) from my good friend who retired from my institution about 20 months ago and is happy to instruct me about what is to come and various decisions I will have to make. I have never paid much attention and the years have gone by....and suddenly I am getting close to the age/season where I am going to retire. I might not, though, when I find out how much money I will need, haha!

I did not meet most of my 2021 Personal Goals, and they are still important, so they become my 2022 Personal Goals, we well. Try, try again.

2021 Personal Goals
-Lose a lot of pounds--I have lost 14 pounds since Jan.1, '21 Just a drop in the bucket but better than going in the other direction.
-Gain a lot of strength--Did not do at all. Still way too weak, especially in my legs.
-Lose a lot of clutter--Glory, not enough at all! Over the summer I did some good purging but didn't get back to it since then. So much to do in that arena.
-Get my poor to middlin' health under better control--No, in fact a bad case of breakthrough Covid in early October knocked me further away from this goal. Much to work on here.

 

[huggybuff]

2022 Financial Goals

• Continue to make on time payments on my debt consolidation loan, car payment, credit card payment, etc.
• Continue to add to my emergency fund every month, currently $100 per month.
• Stop frittering money away on things like buying lunch at work when I can take something from home. I've been bad about this in the last month especially.
• Save the remaining money from my paycheck in my wedding/honeymoon fund.
• Give extra money to my fiancee every month to help pay down the credit card he's using for wedding expenses.
• Have enough money to take our honeymoon in November. It may or may not happen this year. The wedding is turning out to be more expensive than I'd planned. Prices have gone up due to Covid.

2022 Personal Goals

• 2021 was a bust. Ok, I did get engaged
• Keep the kitchen somewhat together and allow that it's not going to be perfect everyday.
• Start pulling our bedroom together. It would look awesome if I could get my clothes under control.
• Start off on a new fitness journey by walking a couple of days a week.
• Overall, keep myself accountable. Maybe I need a life coach

 

[Carol_]

2022: Pay off the remaining $143k student loan

Other: TBD, lose the Mrs Claus cookie baking belly

 

[Tygerlilly]

Added what is probably a unicorn goal for next year.

I want for us to be able to live off one of our incomes so we can save/invest 70% and use 30% for vacations of the other income. As of now, it's a super far off possibility. Rent is currently my entire first check of the month and everything else adds up to pretty much my entire second check as well. We are moving towards saving for a house and sadly, a mortgage will be several hundred less than our rent (rent is so expensive here).

I also decided to try and go with a cash envelope budgeting system this year and only keep bill money plus a small cushion in the checking account. It was way too easy to door dash and impulse grocery pick up order. Hopefully that helps get my impulse shopping in line.

 

[jackers]

2022 Financial Goals

• Mortgage: Reduce balance by 22% with ideal payoff in December 2025 (moved this goal up 6 months – I think it’s doable)
• Savings: Increase savings balance by 10%
• 401K: Max out contributions
• HSA: Max out contributions
• DS16’s 529: Contribute $2500
• A new one, because I felt like I was a little spend happy this past year: Reduce year over year spending in discretionary budget by 5% (includes things like Gifts, Clothing, Entertainment, Dining Out, etc).
• Transfer ownership of ‘09 Honda to DS25 (he has been using it for the past 3 years anyway). Fund used vehicle for DS16 with cash.

2022 Personal Goals

• Get a will drawn up (third times a charm?)
• Get DS16’s driver’s license
• Vacation: Currently planning a Gatlinburg sister trip in the spring, hopefully a family trip later in the year but no specific plans yet.
• Get healthier – make better food choices and exercise.
• Paint great room

 

[piglet1979]

Goals for 2022

• Pay off lower mortgage on the house
• Fix the sun porch (This will be a huge cost but it has to get done)
• Save for trip to Disney in 2023 (kids are going with the marching band and DH and I are having our first no kids trip to Disney)
• Lower the amount we spend on eating out.

Person goals

• Lose 10 pounds (lost 10 this year and want to continue)
• Get a will put together (we have talked about this since we had kids. They are now 15 and 14. time to get this done)

 

[WDW_fan_in_TX]

Like someone else said, 2021 was a complete bust.

My wife and I both had Covid. I actually had it twice (December 2020 and again in October 2021). I missed several days of work at doctors' offices. Was diagnosed with an enlarged spleen (as a result of mono) as well as a tumor on my pituitary gland. I hadn't been to the doctor in probably 30 years, but I bet I spent that many days at doctors' offices this past year. Had 3 MRIs (got another scheduled on Dec. 28), 2 ultrasounds on my spleen, had 30 vials of blood drawn and much, much more.

Further, my wife lost her job (we found that out while at Disney, and the company used the excuse that they'd rather terminate her than pay her vacation time she had earned). My wife also lost her grandmother in June. Then in December, my wife's car broke down, so we had to get a new one. We had to take out a loan for that as she had gone over a month without a paycheck. So to say the least, it was a tough year.

And we didn't meet many, if any goals from the last year.

I am not quite ready to make public my 2022 goals, but I will at some point over the next few days. I really want to sit down and focus on putting a list together, an obtainable list. I think the frustrating thing is I make a list, then stuff happens. And I don't follow through with the list and wind up just giving up.

 

[DLgal]

I have a pretty straightforward goal for 2022. I want to increase our net worth by $100,000. I've leaned away from other goals because, at this point, this is the number that tells our actual financial truth. In 2021, we increased it by $76,000. I'd like to aim higher next year. Should be do able, since we paid off all debts and car loan and don't plan to incur any more debt next year.

Not sure what's going to happen vacation wise. Likely nothing big. I'm not feeling a half baked vacation with covid at the forefront. I won't spend $$$ for a vacation when we can't truly relax and just forget about the pandemic. So, we cancelled our planned spring break at Aulani and will likely just enjoy local attractions next year. We will have a new waterpark opening up basically around the corner (literally) and Super Nintendo World will be opening at Universal Hollywood, so between those and Disneyland, I feel like we have enough to stay busy.

 

[perchy]

I’m really terrible at making goals.
One is to sell off my inventory from my side hustle. I don’t have the time and it’s costing me more than I’m making.

The other is to pay off the one card I keep transferring balances to.

I gotta stop spending. January, cash only.

 

[pblack]

Like someone else said, 2021 was a complete bust.

My wife and I both had Covid. I actually had it twice (December 2020 and again in October 2021). I missed several days of work at doctors' offices. Was diagnosed with an enlarged spleen (as a result of mono) as well as a tumor on my pituitary gland. I hadn't been to the doctor in probably 30 years, but I bet I spent that many days at doctors' offices this past year. Had 3 MRIs (got another scheduled on Dec. 28), 2 ultrasounds on my spleen, had 30 vials of blood drawn and much, much more.

Further, my wife lost her job (we found that out while at Disney, and the company used the excuse that they'd rather terminate her than pay her vacation time she had earned). My wife also lost her grandmother in June. Then in December, my wife's car broke down, so we had to get a new one. We had to take out a loan for that as she had gone over a month without a paycheck. So to say the least, it was a tough year.

And we didn't meet many, if any goals from the last year.

I am not quite ready to make public my 2022 goals, but I will at some point over the next few days. I really want to sit down and focus on putting a list together, an obtainable list. I think the frustrating thing is I make a list, then stuff happens. And I don't follow through with the list and wind up just giving up.

So sorry to hear about all your troubles this past year. Hoping that everything goes well with your health and your wife's job situation in the new year.

 

[Tygerlilly]

Got my new planner, envelopes, and binders ordered for the new year. We're jumping fully into going all cash (minus Bill money in the account that gets paid automatically).

I'm really excited to see how this changes my behavior and habits with money. And I'm definitely excited to see how our savings grows this year!

 

[WDW_fan_in_TX]

Got my new planner, envelopes, and binders ordered for the new year. We're jumping fully into going all cash (minus Bill money in the account that gets paid automatically).

I'm really excited to see how this changes my behavior and habits with money. And I'm definitely excited to see how our savings grows this year!

So what exactly are the binders, envlopes and planner for? I've never been much of a budget minded person, but I always want to try. So looking for ideas. Around the first of the year, I try and come up with a budget. But by the end of the week, it's blown. So I need help.

 

[Tygerlilly]

So what exactly are the binders, envlopes and planner for? I've never been much of a budget minded person, but I always want to try. So looking for ideas. Around the first of the year, I try and come up with a budget. But by the end of the week, it's blown. So I need help.

We are moving to a cash only budgeting system this year to really try and curb the impulse spending.

My planner is just my regular planner I use every year, but I'm trying to keep better track of when bills are due so it's not "oh, I forgot water was due today".
I have a zipper binder with envelopes that will be my new wallet. It's what I'm keeping the cash in to pay for things like groceries, gas for the car, fun money, other normal monthly expenses that can be paid in cash.
And then I have a second binder with envelopes that stays home with all my sinking funds. So, short term yearly expenses I know I'll have: birthdays, holidays, car maintenance and tags, sports fees for the kids, vacation fund.

The Budget Mom on youtube is what we're loosely following. The only money staying in the checking account is for auto withdraw bills and a small cushion just in case I'm somewhere that won't take cash.

 

[jen7233]

We did an early Christmas visit to family about 14 hours away. We are the ones that travel as others don't, it does make me a bit sad. Our story is unique most likely compared to likely many others though with grandparents. Moving on to New Year's talk, we were going to do a bigger New Year's Eve at Gaylord Hotels with Marriott but have cancelled that idea after looking into some events and times of their winterland activities aren't good, and so just staying home. A few other years in the past we did an overnight at Great Wolf Lodge, which was fun.

Thinking of Disneyland this year, and going to check out the other board for Disneyland for any tips on hotels, Genie, etc.

Continue to build up the home purchase fund is a really big goal next year. To me, the home purchase fund needs to have set aside in it a good 50k for furnishing and home improvements we'll want to potentially do. I don't believe anything is turn-key, minimal costs yes, but I haven't yet seen anything there wouldn't be some expense, for example some we saw needed new fencing, or could use new windows or new deck, and yes some may be want over absolute need.