Debt Reducers

[Heluvsme]

Thursday's Frugal-ness

Took 5 minute shower.
Washed load of laundry-cold water.
All meals from home.
Made a menu and grocery list, went shopping, did an entire week's worth of food for 4 of us for $67.85. (Stew for 3 nights, spaghetti for 2 nights, soup and grilled cheese for 1 night, the 7th night I will be shopping again that day) Not the best, but cheap and somewhat healthy.
Saved $.10 a gallon on gas yesterday by using my Kroger rewards at their gas station.
Kept lights off as much as possible.
Only turned heat up past 62 for 3 hours yesterday evening.
Got interest rate lowered on one c.c. YAY!!!
Today's on track to be another Frugal day! All meals from home, heat is not up, quick shower....so far so good!

 

[NCTWINSMOM]

Hi everyone! I'm glad I found this thread. DH & I have started Dave Ramsey's baby steps and recently paid off one small cc last month (Sams, $641)!!!

I'm really excited but really nervous at the same time. We tried something similar a few years ago and dh crumpled and that sent us in to more debt. I do feel that dh is in it for the long haul and has realized the stupid things we have done.


The plan we have in place will have us DEBT FREE in 3 years.

DH has taken a special interest in reducing other bills we have and was able to save us about $40 a month on cable and internet service. Next step is call and hopefully lower interest rates...I'll let you know how that goes...

 

[HenDuck]

We have just agreed to cut back by:

1. Reduced cel phone minutes ($20/mo.)
2. Cancel land line ($36/mo.)
3. Cancel digital cable ($45/mo.)

And my goal is to cut at least $200 from our grocery/household budget.

I just "found" us an extra $300/month!

And we're just getting started...

 

[aclov]

I called cc company and they reduced my APR by 1% not much but I've only been with them for a year so I guess it was better than nothing.

I'm thinking of cancelling land line but than I would have no internet. I have a cell phone and I can use the internet at work. I'm debating.

 

[FirstTimertoDiz]

Well, besides taking a step backwards this week because of our heating oil bill, I feel like I am starting to head towards the right direction again. Today dh and I (along with my employer and her dh) signed up for a Dave Ramsey Financial Peace University class that is being held at a local church. I am very excited about attending the classes, and hoping this will help keep us motivated on our way to becoming debt free!

Has anyone attended one of these classes? (I am going to post that question on a new thread, but I thought it would go here as well)

 

[lisajl]

Joining

We khave three cards to pay off. One is $3,000 with zero percent, one is $2500 with 9 percent, and one is $4,000 with 9 percent.

The one with $4.000 I called the company to see if they would lower my interest. We have excellent credit and she said they could lower it to 5.5percent. I thought great, that would help. Well, it never came through.
I called the company back and complained and the supervisor told me I misunderstood. The previous person had said it would be for balance transfers, not to lower the percentage rate. I said a few choice words and the supervisor told me, "We have other incentives, just not right now".
Well, I am not waiting. I will transfer that and close that account asap.

We only want to have two credit cards. One in Dh's name and one in mine.
If we keep the two with lower limits I think that will help us.
The one with $4,000 on it has a $8,000 limit. Wayyyy too much for my blood.

Lisa

 

[alicenwonder99]

Well, I had a GREAT financial day yesterday. I "found" $7000! First, I did my taxes, and we're getting back $3600. Then, I got a letter in my mail from our gas company and our meters WERE read wrong. I've got a $400 credit for my gas! Then, I got a refund check for $1400 from our county for our taxes. We didn't file for our homeowners exemption in 2005 and just realized it a couple of months ago. We refiled, and now we got a check from them. Then, I read up on the money we're going to be getting from the government for the economic stimulus and we'll be getting $1600.

On the bad side (there's ALWAYS a bad side), our insurance premium for our minivan was raised to almost $500!!! That's $1000 a year on a 2002 minivan!!! I'm tempted to just lower the insurance to liability. Not sure what to do about it.

Now I'm going to figure out how I'm going to spend my refunds (well, what bill I'm going to pay off first...lol).

 

[Jen_in_NH]

Well, I can't say I've had a huge debt-reducing week. I had to go grocery shopping for the first timne in 3 weeks, and also had to pick up disposable diapers for my son. I did get to save 50 cents a gallon on gas though from the grocery reward points.

On the other hand, I did my taxes, and we're getting about $6700 back, so that should help pay off some CCs

 

[mommyof3grlz]

We are actually beginning Financial Peace University at our church in 2 weeks. We watch the preview tomorrow night. My husband and I will be the facilitators. I have been listening to Dave's radio show for several months and we have already started our debt snowball, which is baby step 2. We sold a motorcycle, a used mobile home, and a set of twin beds. Since December 22 we have paid off over $9,000 in debt and still have quite a way to go. I really enjoy this thread. It helps keep me motivated as does the dave ramsey radio show, especially on Fridays when people call in and scream, "I'm debt free!!!!" I cannot wait until our family can do that.

 

[Jordans_Mommie]

Hi! I love this thread. I bought Total Money Makeover and have been following Dave Ramsey's baby steps. I am on baby step too and as of this past Friday, I have no credit card debt!

I am really excited to start aggressively paying down my car loan and student loan. I expect to be completely debt free in 2-3 years.

I am still doing my Disney trip this year, but it will be our last big trip until we are debt free. The good news is, it is all cash!

Good luck everyone! We can do this!

 

[MarthaJr.]

Love this thread...been working on reducing our debt too. Unfortunately, just treading water the past few months with Christmas, $900 in car repair bills and $135 in trip to emergency room with DS. (He's just fine.) But, just wondering what you "budget boarders" think of a previous poster's taking on loan from 401K to pay off debt. We have tossed around this idea too.

 

[jodim]

Our biggest thing is cc debt... we have almost 20k right now, however, almost 15k of that will be paid off when I settle with our insurance company (We had a fire, and I haven't had time to do all of my receipts and get a check from them)

Once our cc debt is gone, we will be cutting up all but 2 cards. (AmEx - because I LOVE it, and a MasterCard- for all the places that don't take AmEx)

I would like to start putting more in savings, we are planning on building in the next year, have a boy who will be off to college in 3.5 years (God willing) and then 4 more who will hopefully follow suit.

We also want to buy a new vehicle in the next year or two, and pay cash if possible. (we just bought a 06 suburban, and only had to borrow 5k - which will be mostly paid off when I sell my van - woohoo!)

 

[ldb1030]

Well, I had a GREAT financial day yesterday. I "found" $7000! First, I did my taxes, and we're getting back $3600. Then, I got a letter in my mail from our gas company and our meters WERE read wrong. I've got a $400 credit for my gas! Then, I got a refund check for $1400 from our county for our taxes. We didn't file for our homeowners exemption in 2005 and just realized it a couple of months ago. We refiled, and now we got a check from them. Then, I read up on the money we're going to be getting from the government for the economic stimulus and we'll be getting $1600.

On the bad side (there's ALWAYS a bad side), our insurance premium for our minivan was raised to almost $500!!! That's $1000 a year on a 2002 minivan!!! I'm tempted to just lower the insurance to liability. Not sure what to do about it.

Now I'm going to figure out how I'm going to spend my refunds (well, what bill I'm going to pay off first...lol).

I'd check around for a better insurance rate! That's what I did! Does not cost you anything to check but time!

 

[problemchild718]

Love this thread...been working on reducing our debt too. Unfortunately, just treading water the past few months with Christmas, $900 in car repair bills and $135 in trip to emergency room with DS. (He's just fine.) But, just wondering what you "budget boarders" think of a previous poster's taking on loan from 401K to pay off debt. We have tossed around this idea too.

I wouldn't borrow from mine unless I was going to lose my home or couldn't feed my kids. I know how I am and I don't think it would make it back into the account.

 

[roselark]

Woot! Just paid off 2 of my cards with my state return. Just waiting for federal and it will be one more down and a huge amount to another. Starting to snowball!!

Barring any major issues, it looks like we might actually be able to have $0 credit card debt by the end of the year!

 

[WatchinCaptKangaroo]

AT&T offers DSL that does not require a landline for $23.99 a month. (that is a link to a website called the Consumerist which will tell you what you need to tell AT&T to get the offer.

 

[akmom]

I've been reading all the previous posts about snowballing and the enveleope system. I just can't figure out how to get started when I'm soooooo far behind on everything. GRRRRRRRRR

 

[WDWMagicNic]

Well, it's Monday again, and I hope everyone gets off on the right foot this week to work on their goals. This past weekend was one for me where I started to put myself in the right mindframe to be more budget-conscious. I cooked and baked and made several meals for a busy week so we won't give in to fast food. I also dusted off my copy of The Tightwad Gazette and began reading it again. I'd had it for years and used a lot of the ideas in the book, but had forgotten about many of the tactics to save money. If you are interested in discovering some frugal tips, you may enjoy checking the book out from your library.

 

[Juliee8]

Count me in. This year I want to really start focusing on paying down our debt. I am hoping to get all of our smaller things paid off by the end of summer since I am working full time now.

 

[pabef]

We have worked really hard to reduce our debt following Dave Ramsey. It didn't hurt that we came in to a small inheritance either, but we have tried to do smart things with that money to make the most of it. We have paid off all credit cards and cut them up, as well as paying all medical bills which all totaled about $10,000. We refinaced to a 15 year mortgage from a 30 and rounded our payment up to an even number and put that $78 toward principal each month. I also shop discount stores and clearance to put up gifts for Chirstmas and birthday and also find great deals on clothes and home items. We have a great store here called Dirt Cheap. Today I got my daughter 3 Video Now disc , 2 really nice sweaters for me, some workout pants, a set of measuring spoons, a Scattergories game, a Trvial Pursuit Game, and a set of colorful gift bags - all brand new and all for $37 total. We just remodeled a bathroom and paid cash for it. We saved and shopped around for the best deal on a contractor. We also bought our vanity on clearance at Kirklands.