Debt Reducers

[Vallie]

Well I am verrry glad to have found this board!
I am so in! I'm a recently graduated university student and will be getting my HR certification next year!
I have ran up some debt from school and this debt stopped me from being able to do the Disney Grad Program that I wanted to do so badly this year! So I have decided I'm not ever gunna let debt get in my way again! And hopefully after I pay off my debts I can get a nice little apartment downtown with my boyfriend

I have just paid off my small CC balance and I have one other one and my student loan! o and i have a car also but i'm able to afford my monthly payments so i'm not to worried about that one right now.

I am doing the debt snowball method! so CC first!

this board is very encouraging and i am hoping it's still active!

 

[momof296&02]

I've been calling cc companies & I was able to get my apr reduced to 6.9 from 27.9 for as long as I have the card! Debt free here I come!!!!!!

 

[8 Ears]

Wahoo! I have been patiently waiting to post this....

We paid DH's truck off today!!!!!


It was not due to be paid off until April 22! Oh my gosh it feels so good!!!!!!!! Monday I will call and have the insureance reduced on it.

AND, I made checks out for all those medical bills today!

AND yesterday I found out I got hired full time for a credit card company. I start March 2nd!

I also wrote some monthly checks out today.

So, we only owe about $2,500.00 on my vehicle, $525.'ish on a medical bill. (There are others we are waiting to hear from the insurance company and when DS has all 4 wisdom teeth out on Tuesday we have the CASH to pay
for it!

With me working full time again hopefully we can sock a bunch of $$$ away.


I am sooo this afternoon!!!!!

How is your debt reducing going?

Did I mention we paid DH's truck off today?!?!?!?!

 

[momof296&02]

Wahoo! I have been patiently waiting to post this....

We paid DH's truck off today!!!!!


It was not due to be paid off until April 22! Oh my gosh it feels so good!!!!!!!! Monday I will call and have the insureance reduced on it.

AND, I made checks out for all those medical bills today!

AND yesterday I found out I got hired full time for a credit card company. I start March 2nd!

I also wrote some monthly checks out today.

So, we only owe about $2,500.00 on my vehicle, $525.'ish on a medical bill. (There are others we are waiting to hear from the insurance company and when DS has all 4 wisdom teeth out on Tuesday we have the CASH to pay
for it!

With me working full time again hopefully we can sock a bunch of $$$ away.


I am sooo this afternoon!!!!!

How is your debt reducing going?

Did I mention we paid DH's truck off today?!?!?!?!

Wooo hoo! Congrats!! It must be a great feeling!!!!!

 

[bubba]

WooHoo ! Way to go !

 

[Debbie]

Congratulations, 8 Ears. Are you excited? You 'done good'.

 

[8 Ears]

Thanks everybody!

 

[mommyof3grlz]

Congratulations 8ears on paying off the truck. Yesterday we made a huge payment on DH's truck with our income tax refund. It should be paid off by the end of March! I will post on here when we do!

 

[8 Ears]

mommyof3grlz, way to go

 

[treeface]

Just paid off three cc this week. Still a long way to go, but everything left is larger now so takes longer.

 

[8 Ears]

Nice start treeface, keep up the good work!

 

[Kathi OD]

You guys are all doing great! I am sooooo jealous!!!!

 

[dreamin_disney]

i'm paying as much as i can towards my disney visa.
I owe 1155.00 by april 1st. I focus more on it because i was unsure about our tax refund. I live in CA so thats why.
i 'm signed up with the flex125 and just sent in 230.00 worth for medical reimbursement which will go toward visa
dh and i just got married in Jan so last years taxes i filed single and usually have to pay back but due to flex 125 i''m getting a refundof $125 instead(i usually have to pay back around 200-300)
i saved up about $200 after sending in my payment
disney visa balance will be $425

with dh tax refund we will pay off about 8 creditcards

then we will work on the cards with 0% by due date

Layoffs will be happening at my job but no one knows for sure what jobs exactly. I know mine was one but now that the ca budget was signed we shall see.


I've started cooking more.
renting movies instead of going to the movies
if we do eat fastfood we use coupons bogo
we only buy what we need

 

[comicguy]

Well our tax return came in on Friday and was gone by Saturday.

We paid off a cc that I had to put tuition on last fall and we also paid of the wife's SL. Then we put the balance into our emergency fund. Not very exciting but rather pratical. The good news we cleared 200 from our monthly budget allocation, Now we can put that extra money towards the remaining (final) CC

 

[Kathi OD]

Well our tax return came in on Friday and was gone by Saturday.

We paid off a cc that I had to put tuition on last fall and we also paid of the wife's SL. Then we put the balance into our emergency fund. Not very exciting but rather pratical. The good news we cleared 200 from our monthly budget allocation, Now we can put that extra money towards the remaining (final) CC

Practical is the new exciting in the current economy! I say good for you and DW! $200/month is nothing to sneeze at.

 

[Vallie]

Man this debt repayment thing is exciting me too much! Today I rolled the coins in my coin jar and so far I had 30 bucks in it! haha im gunna keep the rolls tho till I get a big amount! but I actually found this to be somewhat exciting.. i think im loosing it!

I'm anxiously waiting for friday to put month 2 of debt reduction behind me!

I have $150 left on my Visa which will be paid off and put away friday
then I have $2300 left on my MC which I will be working on next
and $8000 left on my student loan

Should I be closing my CC's after I pay them off? or leave them open but not use them? They both have no annual fee.


How is everyone else doing?! How did Feb go for you?!

 

[akmom]

Hi all! It's been so long since I've posted here. I just wanted to share the good news. I got my tax refund and I paid off my dh's truck, a credit card, and got caught up on all past due bills. We have $3000 more left to go in credit cards and a furnace to pay for and then school loans. 2009 is looking like a great year!!! :

 

[Chicago526]

Well, things are going better for DH and I. I re-arranged how I track our spending and work our budget, I now have an individual budget for each month of the year, as our expenses can varry so much from month to month. I tried to take the yearly average, divide by 12, and "save" the overage in one month and take from that overage in another month, but it never really worked very well for us. For example, we get our water bill every other month, it's usually about $80 for two months. I'd budget $40 each month but that $40 in months the bill wasn't due never seemed to make it to savings, so the next month I'd need to find $40 from some other need or want. Same with variable bills like electric and natural gas (I don't like payment plans, I just want to pay what I owe and be done with it). In winter the gas bill is $150-$200 a month and electric $75. In the summer, electric is $150 and gas is just a few dollars (and they don't even bill you in July).

So, rather than fight my nature, I just developed 12 spreadsheets in excel, one for each month, and put each bill due for that month. I track the actual expenses in Quicken and every few days make sure what we are spending matches up to the Excel budget. By the last week or two of the month, I know how much under budget we are (if any) , and the extra goes to pay off debt.

This month, thanks to the refund and DH canceling his monthly cell plan and getting a pre-paid, we have about $1000 to put towards CC debt, the first extra we've paid for 3 or 4 months. This allows us to pay off DH's CC and put a good chunk towards one of the others. The next few months, if things go well, we'll be able to put an extra $200 or $300 a month towards the cards. I hope to cut our CC debt in half by the end of 2009, as well as pay off DH's truck (we'll then be car payment free! ).

I've also finally changed banks, I moved from my home town in 2001 but kept my same bank since they had online banking, but it was getting to hard to drive two towns over to cash a check (my bank was small and had no branches) so I now have an account with one of the big banks. I'll complete the change in March when our paychecks will be direct deposited to the new account, and I can go and close the old ones. This will make things much easier overall, and the new bank gives you points for paying bills online, so I'll be earning about 2500-3000 points a month, on top of airline miles for the things we charge (and pay off! no adding to CC debt for us!). I'll be able to redeem those points at the end of the year for gift cards that I can give as gifts, not a bad way to help cut down on the Christmas budget!

Overall, it's a very exciting time for us financially. I think we are finally turning a corner. If things go well, we should be all but consumer and car debt free in about 18 months.

 

[IndyDisneyFan]

This is a great thread! Add me in as one who is working on paying down the debt. I actually started a couple of months ago, but after reading all of this I am more motivated and will find more ways to cut expenses. My DH and I are exploring the possibility of adopting an orphan from China which requires a substancial amount of money, so that is what we are working towards. Thanks for all of the great ideas!

Laura

 

[jennyf2]

I LOVE these kind of threads! I posted on a similar one last year---I have 1 CC with a HIGH limit but I recently paid it off, I have approx $4000 left on my car loan, & we just bought our 1st house last August so quite a bit still owed on that loan

I will NEVER EVER EVER carry a CC balance again---I have paid it off so many times in the past & racked it up on non-emergency items--stuff I dont need but wanted at the time.