Debt Dumpers - 2015

[dayvewc]

That is awesome on the credit score!!! When I've checked mine through my credit cards, it's been in the 710's, which is up about 80 points over the past year. I'm really thinking it will jump up more next May when my bankruptcy falls off. But it won't be near 800 even then.

 

[Angeejoe]

Okay everyone - I have to brag - I received a letter from my bank today letting me know that they pulled my credit score because I'm looking to refinance (still probably have 3 more weeks till they determine if im eligible) and m credit score was 846!!!!! I had to look at it 4 times! Now even with a score that great I may still be denied because I have a manufactured home and they are tougher about financing them but I am just very proud of my score!

Sounds like everyone is plugging along with their debt dumping!! Sorry to hear about the strep throat and sinus infections your both suffering with. Hope you feel better soon!

Gracie that is such awesome news on your credit score!!

 

[DisneyMandC]

Well. Just committed to DH that we would not do a short Disney trip next year for our 1st anniversary I will definitely miss Disney, but I don't get a lot of vacation time with my current job and I know that when I go to Disney, I want to do a full week, and not a long weekend. We've decided to definitely go for a big trip in 2017 when they (hopefully) have some of the construction done in HS and AK. DH loves Disney as well, but I know he's right in saying that I wouldn't enjoy it as much if we did a short, value stay for a couple days. I really like that full week and deluxe stay to get the full Disney experience.

So, while we may take a short trip somewhere nearby for our anniversary, I am going to really focus on paying down the debt next year. We have DH's car payment, about 6k on a student loan for him, and about $7500 on a student loan for me. All payments are currently getting extra applied to them, but I would really like to knock out one of them altogether next year. DH's car payoff would probably be too high for us to do, but I think these student loans can go for sure! DH gets a bonus in the spring with his new job, so I would like to take a bonus plus our tax return and knock out one student loan altogether, and if there's any leftover apply it towards the other one. I've also been considering putting some extra money towards my student loan. My minimum payment is $85, but I've been paying $100. Paying $125 knocks off several years from the life of the loan, so here's hoping I can up my payment next year as well!

 

[Gena001]

I'm glad you had a great trip, sorry to hear you lost your wallet! That's a bummer, but I'm glad to hear that no fraudulent charges were made to it.

Guess what I found on Saturday morning...in a zippered pocket in my "park purse".... I thought I'd checked it at least SIX times before! Oh well...the replacement cards are beginning to roll in.

 

[ariel1025]

Well. Just committed to DH that we would not do a short Disney trip next year for our 1st anniversary I will definitely miss Disney, but I don't get a lot of vacation time with my current job and I know that when I go to Disney, I want to do a full week, and not a long weekend. We've decided to definitely go for a big trip in 2017 when they (hopefully) have some of the construction done in HS and AK. DH loves Disney as well, but I know he's right in saying that I wouldn't enjoy it as much if we did a short, value stay for a couple days. I really like that full week and deluxe stay to get the full Disney experience.

So, while we may take a short trip somewhere nearby for our anniversary, I am going to really focus on paying down the debt next year. We have DH's car payment, about 6k on a student loan for him, and about $7500 on a student loan for me. All payments are currently getting extra applied to them, but I would really like to knock out one of them altogether next year. DH's car payoff would probably be too high for us to do, but I think these student loans can go for sure! DH gets a bonus in the spring with his new job, so I would like to take a bonus plus our tax return and knock out one student loan altogether, and if there's any leftover apply it towards the other one. I've also been considering putting some extra money towards my student loan. My minimum payment is $85, but I've been paying $100. Paying $125 knocks off several years from the life of the loan, so here's hoping I can up my payment next year as well!

I'm so sorry that you won't be getting to go on your 1st anniversary trip But just think how much sweeter the 2017 trip will feel when you get to go for longer...with less debt

 

[DisneyMandC]

I'm so sorry that you won't be getting to go on your 1st anniversary trip But just think how much sweeter the 2017 trip will feel when you get to go for longer...with less debt

That's what I keep trying to tell myself. We really want to do a big family vacation with DH's parents and little brother and my mom. DH's little brother has been DYING to go to Disney, so I'd like to be able to save enough through gift card deals etc. to treat the family to at least the hotel stay on us.

I'm so thankful for the DIS though because I think I'd go NUTS at work without at least getting a small dose of Disney every day!!

 

[edk35]

Are they still open? I know some companies after so many years of inactivity they will close the accounts

Yes because we periodically use them for Disney trips. I also forgot our oldest son uses the exxon one sometimes away at college for emergencies but basically NO we don't really use them.

 

[Eureka]

I'm trying to follow this thread, everything looks doable, I just can't get the hang of the budget thing so I can pay bills down. I have my mortgage, car, utilities and 2 closed credit cards. I work 2 jobs and pick up as much OT as I can at the one but that will end in October. Any suggestions on how to tackel a budget? I guess I just can't figure out how to pinpoint what my exact bills are each month. There is always something that pops up each month, a field trip, kids need new shoes because the ones they have literaly have holes in the soles; vet bill; something brakes at home and needs to be repaired. It's never ending.

I don't do a budget but for the last five or six years, every single month I make a list of the bills we have with amounts and due dates (in chronological order). Lower down on the list is our paycheck amounts and dates. We put our weekly receipts into a bucket. Every week I reconcile quicken (we use the ledger on the computer but I don't pay bills through quicken) and I cross off each bill as I pay it. DH gets paid every week and I get paid twice a month, so by now there's a rhythm to what bills get paid out of which checks, but when I freelanced it was trickier because my checks were variable in both amounts and dates.

I also have a section of the list called "upcoming expenses" in which I list things (making estimates when I don't know the exact amount) that are coming up...holidays, medical expenses that we don't know what it is quite yet until the bill comes, but we know it's coming, back to school shopping, vacations, you get the idea. It helps me keep track of everything at a single glance.

Then I have my "pots." I read Gail Vaz-Oxlade, and it's kind of a take on her jars, but I don't use her method for our every day stuff. Instead, I have a transaction line in our ledger for things like sports, vet, home maintenance, things that aren't paid weekly or even monthly. I put some into each pot every week so when the quarterly trash service bill comes, I pay it out of maintenance. Or when I take the cat for shots, the money is already there. Lately, I've been putting in a set amount into a "misc" pot for whatever needs doing...sometimes we use it if we've recently been traveling, sometimes it goes to dinner out on a tighter week, sometimes we end up borrowing it from ourselves just for gas or whatever during the week and put it back the next week.

Well, I wrote a book, but I hope some of this is helpful. I know you were asking about budgeting, but once you know what your bills are, you'll start to see how much you spend for every category and that makes it easier to budget.

 

[Angeejoe]

I don't do a budget but for the last five or six years, every single month I make a list of the bills we have with amounts and due dates (in chronological order). Lower down on the list is our paycheck amounts and dates. We put our weekly receipts into a bucket. Every week I reconcile quicken (we use the ledger on the computer but I don't pay bills through quicken) and I cross off each bill as I pay it. DH gets paid every week and I get paid twice a month, so by now there's a rhythm to what bills get paid out of which checks, but when I freelanced it was trickier because my checks were variable in both amounts and dates.

I also have a section of the list called "upcoming expenses" in which I list things (making estimates when I don't know the exact amount) that are coming up...holidays, medical expenses that we don't know what it is quite yet until the bill comes, but we know it's coming, back to school shopping, vacations, you get the idea. It helps me keep track of everything at a single glance.

Then I have my "pots." I read Gail Vaz-Oxlade, and it's kind of a take on her jars, but I don't use her method for our every day stuff. Instead, I have a transaction line in our ledger for things like sports, vet, home maintenance, things that aren't paid weekly or even monthly. I put some into each pot every week so when the quarterly trash service bill comes, I pay it out of maintenance. Or when I take the cat for shots, the money is already there. Lately, I've been putting in a set amount into a "misc" pot for whatever needs doing...sometimes we use it if we've recently been traveling, sometimes it goes to dinner out on a tighter week, sometimes we end up borrowing it from ourselves just for gas or whatever during the week and put it back the next week.

Well, I wrote a book, but I hope some of this is helpful. I know you were asking about budgeting, but once you know what your bills are, you'll start to see how much you spend for every category and that makes it easier to budget.

Great ideas!

 

[dayvewc]

Whoo-hoo!! This may not be exactly the best place to mention this, but my waitlist for my November trip came through. So, I get to go completely on DVC points, which will give me a refund on the cash room I had booked for that Friday night. And at this point, everything else is already paid for (except one table service meal), so that refund just gets to be dumped straight into other debt reduction!!

 

[dodukes]

Figured id join in the thread as I am also trying to dump debt. I'm about to finish off a card next payment. Still have more to go but im on a serious mission to dump most of my debt by end of next year. 2017 is going to be good if I can manage that. I am also saving in the meantime, so lets see ho t goes, happy to follow along this thread.

 

[gracie1]

Figured id join in the thread as I am also trying to dump debt. I'm about to finish off a card next payment. Still have more to go but im on a serious mission to dump most of my debt by end of next year. 2017 is going to be good if I can manage that. I am also saving in the meantime, so lets see ho t goes, happy to follow along this thread.

Welcome!! That is great that one card is about to be paid off! It's an awesome feeling of accomplishment when that first card gets paid and your able to start paying more on the next card. Glad that you have joined this thread!!! And remember - we have all had setbacks on here so feel free to come on here to vent as well.

 

[Angeejoe]

Whoo-hoo!! This may not be exactly the best place to mention this, but my waitlist for my November trip came through. So, I get to go completely on DVC points, which will give me a refund on the cash room I had booked for that Friday night. And at this point, everything else is already paid for (except one table service meal), so that refund just gets to be dumped straight into other debt reduction!!

It sounds like great news to me! Now you do understand what I will be expecting again....

 

[AquaDame]

One step forward (paid of a CC today!) and one step back (we just got back from Europe and I saw the bill!). Good news is we'll have that paid off in December before the promo on it ends. Initially I felt bad for opening a new card when we are trying to reduce debt, but there were no foreign transaction fees, ATM dings or cruel exchange rates with that credit union as there would have been to use my debit account so I'm really happy we did it. Now we'll just keep swimming...!

 

[crazycatstacy]

Fantastic job on the credit score!!!

I love Gail Vaz Oxlade and wish the show was still on.

Whoo hoo on the DVC points! What resort will you stay at?

 

[dayvewc]

Fantastic job on the credit score!!!

I love Gail Vaz Oxlade and wish the show was still on.

Whoo hoo on the DVC points! What resort will you stay at?

Animal Kingdom - Kidani, Savanna View.

 

[DisneyMandC]

Animal Kingdom - Kidani, Savanna View.

So jealous!!! We stayed at Jambo in April. Absolutely beautiful!

 

[Gena001]

Animal Kingdom - Kidani, Savanna View.

AWESOME! in all my trips, I still haven't even been to that resort for a visit! Our trip 2 weeks ago, I had a reservation at Boma, but had to cancel since we shortened or Disney stay. Maybe next time!?!?

 

[footballmouse]

I don't do a budget but for the last five or six years, every single month I make a list of the bills we have with amounts and due dates (in chronological order). Lower down on the list is our paycheck amounts and dates. We put our weekly receipts into a bucket. Every week I reconcile quicken (we use the ledger on the computer but I don't pay bills through quicken) and I cross off each bill as I pay it. DH gets paid every week and I get paid twice a month, so by now there's a rhythm to what bills get paid out of which checks, but when I freelanced it was trickier because my checks were variable in both amounts and dates.

I also have a section of the list called "upcoming expenses" in which I list things (making estimates when I don't know the exact amount) that are coming up...holidays, medical expenses that we don't know what it is quite yet until the bill comes, but we know it's coming, back to school shopping, vacations, you get the idea. It helps me keep track of everything at a single glance.

Then I have my "pots." I read Gail Vaz-Oxlade, and it's kind of a take on her jars, but I don't use her method for our every day stuff. Instead, I have a transaction line in our ledger for things like sports, vet, home maintenance, things that aren't paid weekly or even monthly. I put some into each pot every week so when the quarterly trash service bill comes, I pay it out of maintenance. Or when I take the cat for shots, the money is already there. Lately, I've been putting in a set amount into a "misc" pot for whatever needs doing...sometimes we use it if we've recently been traveling, sometimes it goes to dinner out on a tighter week, sometimes we end up borrowing it from ourselves just for gas or whatever during the week and put it back the next week.

Well, I wrote a book, but I hope some of this is helpful. I know you were asking about budgeting, but once you know what your bills are, you'll start to see how much you spend for every category and that makes it easier to budget.

Thanks for the suggestion, this sounds a like a budget kind of. I've read the Dave Ramsey books, are the Vaz-Oxlade books kinda the same as his?

 

[bcwife76]

So we went through our budget again (and spending) and cut a few tiny little things. Nothing significant but it's a few extra bucks.
We get the dollar shave club blades (hubby and I share, their blades are awesome and a fraction of the cost of ones in the store) and we were getting a delivery every month. Now we have a ton so we changed it to every other month. Amount saved=$7.29 every other month instead of every month
He cancelled unblock us, which is this web service that allows us to view US content from our Canadian IP. Amount saved=$4.99.
I went to cancel our Next Issue subscription and they begged me to stay, slashing their rates by 50% for the next 3 months. Amount saved=$5 x 3 months and then when that is up I'll cancel entirely ;-)

We leave for our cruise and DLR trip on Sunday, woohoo!! We've got a spending budget for the ship as well as Disneyland (food, souvenirs there) so hoping we can stick to it.