Debt Dumpers 2025

[ruadisneyfan2]

we found 3 different patterns of wallpaper in the kitchen of our first home when we went to remove it-60's, 70's and 80's. no pink carpet but the mbr had some awful very deep multicolored shag that you could see creeping out from under the door (we called it the monster under the bed). those were fun times putting our own touches on stuff. SCORE on the hardwoods




those tax prices kill me-we are 2350 SQ feet, similar to yours w/ 3 car garage on 10 acres and pay $4400/yr (we bought in '07).

I remember as a kid having friends with that long shag carpeting. Everyone thought it was so cool.
When we were house shopping for us in 96, we looked at houses with that mylar wallpaper. It was a shiny, mirror finish like a balloon. THAT was super cool in the 70s too. Groooovy!!

 

[Bellex917]

those tax prices kill me-we are 2350 SQ feet, similar to yours w/ 3 car garage on 10 acres and pay $4400/yr (we bought in '07).

I'm in NJ also and my property takes are $13,000 a year... my house is 2400 square feet, 1 car garage, and a tiny yard. We previously lived in a a townhouse where we didn't even own the land and our taxes were 7k. NJ is wild lol.

 

[Sheree]

I'm in NJ also and my property takes are $13,000 a year... my house is 2400 square feet, 1 car garage, and a tiny yard. We previously lived in a a townhouse where we didn't even own the land and our taxes were 7k. NJ is wild lol.

750 sf house, 30x50 lot on lagoon in toms river is 12k a year!
main house which is 3600 sf on 1 acre is almost 18k.
insane

 

[Sheree]

I can explain how ds25 did it, even here in NJ which has a high COL.
He had been wanting to move out for a long time. When he first started working FT in his chosen career, he knew he was earning enough to leave.
Of course I would never tell him he can’t, or that he shouldn’t, but I pointed out to him that right now, making good money but at the same time having very few bills (except car ins and car payment that he could quickly pay down) means this is the easiest time you will ever have to save money. Once you leave, it will always be a struggle to save. There is so much stuff you need to get established, bills eat away at your paycheck, and you still want to be able to have fun. I also told him not to work himself to death or work so much that he misses out on his youth but also working OT is soooo much easier when you’re young.

He agreed with everything. Except for a few road trips to the Poconos and VT to go snowboarding, he worked 50-60 hours/week for the past 2 years and packed away 90% of his take home pay in an Ally savings account and watched it grow. He put $45k down on his house, had $15k for closing costs, and still had $8k to put into fixing it up. He didn’t ask us for money but I insisted on giving him a few thousand to have as a starter EF.

He says he’d rather work hard now because he knows in his career (industrial welding) it’s hard on the body and he doesn’t want to have to work hard when he’s old. He insisted on a 15-year mortgage so that it will be paid off before he turns 40.
His monthly payment is about $2800/month including taxes and insurance. This is for a 3BR/1BA split level, LR, EI-kitchen, downstairs den and laundry room, with 1 car attached garage on 1/3 acre. It’s a perfect starter home for a single person or a couple.
He is still able to put 10% into his 401k.

This is the boy who listens to Dave Ramsey podcasts, not because he has debt, but so he never gets tempted to spend more than he earns and end up with debt.

He is pretty amazing, not because he is my kid, but I have to admire his motivation, fortitude, and determination.

shows it can be done. I was a mortgage banker here in NJ for 25 years. Wants and needs make a huge difference!
my son bought his condo at 20. it was an affordable housing unit here in town. monthly payment less than 1 br apt rent. he just sold it, with a profit. Now he is fortunate, his grandma was leaving him her house but he now had the funds to completely update/upgrade it which he wouldn't have if he hadn't bought that condo 10 years ago. he works 60-70 hours a week, self employed, newly married and has a great head on his shoulders financially so many of his generation would rather have the nicer cars, work less, nice clothes, trips etc.

 

[ruadisneyfan2]

750 sf house, 30x50 lot on lagoon in toms river is 12k a year!
main house which is 3600 sf on 1 acre is almost 18k.
insane

My dad's shore house is on a lagoon in Forked River and close to $12k a year for his taxes but it is a large house. 6BR/4BA.
He is very reluctant to sell because he built 90% of it himself to keep costs down. (in home construction all his life.) and because it's not his primary residence, he would get utterly wacked in capital gains tax.
If he dies and leaves it to me and my siblings, no taxes.

 

[ruadisneyfan2]

shows it can be done. I was a mortgage banker here in NJ for 25 years. Wants and needs make a huge difference!
my son bought his condo at 20. it was an affordable housing unit here in town. monthly payment less than 1 br apt rent. he just sold it, with a profit. Now he is fortunate, his grandma was leaving him her house but he now had the funds to completely update/upgrade it which he wouldn't have if he hadn't bought that condo 10 years ago. he works 60-70 hours a week, self employed, newly married and has a great head on his shoulders financially so many of his generation would rather have the nicer cars, work less, nice clothes, trips etc.

Whew, that's a lot of work.
We have a friend who started a business back in the 80s and winter was his busy season. He worked 16 hr days, 7 days per week, from Oct to March. The business has grown incredibly huge and his son has taken it over now.
They are very well off but not everyone who knows him now knows how long & hard he worked for soo many years to reach this point.

 

[Sheree]

Whew, that's a lot of work.
We have a friend who started a business back in the 80s and winter was his busy season. He worked 16 hr days, 7 days per week, from Oct to March. The business has grown incredibly huge and his son has taken it over now.
They are very well off but not everyone who knows him now knows how long & hard he worked for soo many years to reach this point.

his plan is to be able to be pt when he's 40! when you love what you do it isn't work.

 

[barkley]

I remember as a kid having friends with that long shag carpeting. Everyone thought it was so cool.
When we were house shopping for us in 96, we looked at houses with that mylar wallpaper. It was a shiny, mirror finish like a balloon. THAT was super cool in the 70s too. Groooovy!!

yup, carpet that was sold with a 'carpet rake'-gotta rake that shag carpet to keep it fluffy.

 

[WDW_fan_in_TX]

We're doing a lot better in just eating out once on the weekend and then Sunday after church. But probably 2 times a week, our office goes to eat. We have to go. So that's 2 lunches I have to eat out. And it's usually $20 minimum where we go. But that's besides the point.

And I did the math on some stuff. For example, my breakfasts. An egg mcmuffin is $2.15 at McDonald's (or $4.30 at ChickFila). I checked egg bites today at Sams, and it's $12 for 5 days worth. Then it's $4.50 for 6 muffins. So it's $16.50 for 5 days worth of egg mcmuffins. If I buy them at Chickfila every day, they're $20. If I buy them at Mickey Ds, it's $10.75. So it's cheaper to eat out in some instances.

So I've been trying to figure out where it's more cost effective to eat out and eat home when I can. But we're down to like 4x out a week, and 2-3 of those are mandatory while I'm at work.

I almost didn’t post my last comment because I don’t like to be negative and I completely agree that his progress has been AMAZING.


The amount he mentioned just shocked me because the last time I read his progress, people were encouraging him to stop eating out but he wanted to hold onto the one he enjoys the most, after church on Sundays. I guess I thought that was his goal.


I totally understand that life gets hectic and you have to do what you have to do to get through it.
We all have to decide for ourselves what is a must-have and what we can live without.

The more I talk to people, the more I realize that my dh is truly an outlier. At 67 and still working his FT job and every weekend painting at ds25’s house, he still finds the energy to meal plan, grocery shop every week and cook every night.
After dinner stuff is cleaned up, he starts cooking more so that he has a nice breakfast and lunch to pack for work.
Believe me, he is far from perfect and he has his faults, like we all do, but eating dinner together at home has always been something he felt strongly about from day 1. It also helps our bottom line.

 

[afan]

We're doing a lot better in just eating out once on the weekend and then Sunday after church. But probably 2 times a week, our office goes to eat. We have to go. So that's 2 lunches I have to eat out. And it's usually $20 minimum where we go. But that's besides the point.

And I did the math on some stuff. For example, my breakfasts. An egg mcmuffin is $2.15 at McDonald's (or $4.30 at ChickFila). I checked egg bites today at Sams, and it's $12 for 5 days worth. Then it's $4.50 for 6 muffins. So it's $16.50 for 5 days worth of egg mcmuffins. If I buy them at Chickfila every day, they're $20. If I buy them at Mickey Ds, it's $10.75. So it's cheaper to eat out in some instances.

So I've been trying to figure out where it's more cost effective to eat out and eat home when I can. But we're down to like 4x out a week, and 2-3 of those are mandatory while I'm at work.

If a work lunch is mandatory then work should be paying. I've never worked somewhere where a required lunch wasn't paid for by the company. Only birthday lunches, but you could always decide not to go. That's just crazy to me.

You can get English muffins cheaper and make your own egg bites. Or look for the Jimmy Dean or store brand frozen breakfast sandwiches and see the cost.

 

[Tygerlilly]

I make a 18 sausage egg and cheese English muffin sandwiches at a time. 3 things of English muffins, and 18 ct of extra large eggs, 2 packs of cheddar cheese, and a family size bag of frozen pork sausage patties comes to about $24. Which makes each sandwich roughly $1.40. Does it save a lot? Maybe not. But spending 15 mins to make them up and have them ready to go so I can pop it in the microwave as I'm getting ready in the morning beats going thru the drive thru by a long shot.

 

[barkley]

If a work lunch is mandatory then work should be paying. I've never worked somewhere where a required lunch wasn't paid for by the company.

where I worked the labor laws would have gone a step further and required me to be paid for a 'working lunch'. I was curious cuz he's in texas-they don't even have a requirement that workers GET rest breaks or a lunch break BUT if an employer offers a lunch break they have to follow federal rules which mandate that if a person has to work even a bit during their 'meal break' (so receptionist who answers phone while eating at the desk, staff meetings while everyone is eating) the break then becomes compensable paid time.

 

[LoveDaisy]

We're doing a lot better in just eating out once on the weekend and then Sunday after church. But probably 2 times a week, our office goes to eat. We have to go. So that's 2 lunches I have to eat out. And it's usually $20 minimum where we go. But that's besides the point.

I have never heard of a mandatory lunch at work that the company does not pay for. Who has said it’s mandatory and what happens during these lunches? How many people go and how long are you all out of the office for? Has anyone asked why it’s mandatory but the company does not pay for it?

My company has 3 lunches a year they pay for and none are mandatory. Our summer picnic, holiday party, and a lunch after our board meeting to thank everyone for all the work that goes into it. Last year I skipped the summer picnic and holiday party and brought food back to my desk and did not eat with anyone after the board meeting.

I have had to take people working with our company to lunch but you are either reimbursed or if you have a company credit card you can use it.

 

[WDW_fan_in_TX]

Nice. But it's only me that eats it. So I'd wind up throwing away most of them. I only eat 1 a day, and I'm sure they'd go bad by the end of the week (5 days after being cooked). But that's great that you have a family big enough to do that and save some money.

I make a 18 sausage egg and cheese English muffin sandwiches at a time. 3 things of English muffins, and 18 ct of extra large eggs, 2 packs of cheddar cheese, and a family size bag of frozen pork sausage patties comes to about $24. Which makes each sandwich roughly $1.40. Does it save a lot? Maybe not. But spending 15 mins to make them up and have them ready to go so I can pop it in the microwave as I'm getting ready in the morning beats going thru the drive thru by a long shot.

 

[WDW_fan_in_TX]

I only take a customer to lunch maybe once or twice a month. But I never turn in a receipt. I consider that just a way to say thanks to my customer for spending thousands of dollars a month with me.

I have had to take people working with our company to lunch but you are either reimbursed or if you have a company credit card you can use it.

 

[WDW_fan_in_TX]

I'm on salary. So we don't clock in or out.

where I worked the labor laws would have gone a step further and required me to be paid for a 'working lunch'. I was curious cuz he's in texas-they don't even have a requirement that workers GET rest breaks or a lunch break BUT if an employer offers a lunch break they have to follow federal rules which mandate that if a person has to work even a bit during their 'meal break' (so receptionist who answers phone while eating at the desk, staff meetings while everyone is eating) the break then becomes compensable paid time.

 

[afan]

where I worked the labor laws would have gone a step further and required me to be paid for a 'working lunch'. I was curious cuz he's in texas-they don't even have a requirement that workers GET rest breaks or a lunch break BUT if an employer offers a lunch break they have to follow federal rules which mandate that if a person has to work even a bit during their 'meal break' (so receptionist who answers phone while eating at the desk, staff meetings while everyone is eating) the break then becomes compensable paid time.

I only take 30 min for lunch because I'd rather work 730 to 4 when most everyone else is 7 to 4. If we go to lunch I only account for my normal 30 min, I wouldn't be out for lunch if it wasn't a work lunch.

I only take a customer to lunch maybe once or twice a month. But I never turn in a receipt. I consider that just a way to say thanks to my customer for spending thousands of dollars a month with me.

That's not how it should work, stop giving your money away to your employer.

 

[WDW_fan_in_TX]

Some days, we will just run through a drive through or even just make lunch here, eat real quick and then go back to work. Some days we will go eat together as a group and are there maybe 90 minutes. That's mostly on Mondays because it happens right after an office sales meeting. Or it happens on Fridays because it's Fridays. We can't adjust our hours based on lunch. We have to be here at 8 every day. Now some days we might leave at 3 or 4 or even earlier (if the day before a holiday like we typically leave around 1 p.m. on Good Friday, stuff like that).

I only take 30 min for lunch because I'd rather work 730 to 4 when most everyone else is 7 to 4. If we go to lunch I only account for my normal 30 min, I wouldn't be out for lunch if it wasn't a work lunch.


That's not how it should work, stop giving your money away to your employer.

 

[DisneynBison]

And I would have loved to have done that in my 20s, but like most of us then, we didn't make much and we're just trying to get by.

I knew saving was important but I couldn't afford to. What would have helped more was understanding credit cards better and that they aren't what you should be supplementing your wages with. To me avoiding that debt in your 20s is more important and what should be taught so it's understood more than the saving. Once you understand how to live with a small budget, when you start making more it would have been easier to start saving. I have that mindset now, the last few years I've given myself very little of my actual raise each year, it all goes into savings and investments. I don't need or miss it, but you have to learn that.

I totally agree on the credit card understanding. If used properly they can be very beneficial but pitfalls are deep if they are fallen into and the cost can be exponential. My 19 year old understands this unfortunately to well, I would like her to get one as a emergency back up if anything would ever happen to her debit card, she refuses but I think is coming around as she goes to college 800 miles from home and sees that you just cant run down to her bank and sort things out if there is a problem. (She did have unauthorized charges one time and had to get a new debit card sent to her).

Don't take this wrong but the "I knew saving was important but I couldn't afford to" is what I am trying to make sure my kids understand is not the way to look at it. I am trying to instill in them "they can't afford not to". So she has been very very smart with her money and loves to work so she has a substantial savings account. I am very proud of her for that. The next step is/was showing her what a $100 invested a month from 19 to 67 is worth later on. Make her think do I need that dress or that door dash or if I rent a apartment that is not quite as nice but $100 cheaper. It is instilling the thought process.

That 100 investment a month put off one year is worth $135,000 loss in growth. It isn't the front end loss it is the back end loss that time gives you and you can't get time back

19 year old 100 a month at 67 at 10% return is $1,417,405
20 year old 100 a month at 67 at 10% return is $1,28,1915

 

[StitchesGr8Fan]

I only take a customer to lunch maybe once or twice a month. But I never turn in a receipt. I consider that just a way to say thanks to my customer for spending thousands of dollars a month with me.

That could very possibly be against your corporate hospitality rules. And it does. It provide transparency to the company about how much it costs to do business with that customer. You need to turn those in.