Debt Dumpers - 2015

[gracie1]

Just me, I'd dump it all on the cc's so that they are paid off that much sooner, then the money that used to be used for the cc payment would become my new "car payment" amount. But, that's just me.



I don't know if it is exactly an unexpected windfall of money, but ....

(Please don't hate me) my ex-roommate moved back in for a few months. His parents are paying his bills while he is looking for a job, so that is a guaranteed income for a few months at least. He is aware that if he is still unemployed when they decide to stop paying he has to move out. In addition, one of his ex-co-workers husband died a month ago or so, and she is moving into one of my other bedrooms, so that is another unexpected income stream for the foreseeable future. Her general plan is to live here indefinitely (which I think will work for me, but we'll see as time goes on). At a minimum, this will let me pay an extra $800/month towards bills and my emergency fund for the time being. If I can stay committed to that amount, and everyone stays, I can be debt free (minus my mortgage) by January.

We'll see what happens though.

That is great! I thought the ex roommate decided not to move in?

 

[dayvewc]

Yes, but I will still need to have a down payment first for the car so will need time to save that up.

For several years, until I started getting overextended on my finances, what I did was after I paid something off (furniture, washer/dryer, car, etc.) I'd take that payment and continue "paying" it to an earmarked "account" inside my checking balance. That way, when it came time to replace or repair something, I'd just pay for it out of the associated "account". It made balancing my account difficult before I moved to MicroSoft Money and then Quicken, but it accomplished 3 goals: it was a built in emergency fund, it provided a down payment or cash payment for the next time I needed to buy something, and it kept me from overspending. It worked for a while, but I really wish I had kept doing that. Would have built me up a much nicer emergency fund, and probably would have prevented me getting overextended in the first place.

I decided that I was done with roommates after my last experience. That's great if it is working for you though and not driving you crazy like it would me! Hope all goes smoothly - I thought the ex roommate was off on some road trip?

That is great! I thought the ex roommate decided not to move in?

Yeah, long story there. He came back 2 months ago under the same agreement but only stayed 2 weeks and left with another friend for the life on the road. That lasted about 5 weeks and his friend told him "no more. go someplace else." So, he tried to go back to his dad and stepmoms, but then decided he didn't really want to live with them and called me a week ago to see if I was open to him moving back. We set up the agreement again, and 2 days after he got here his ex-co-worker asked him if he thought I would let her move in. So, it may not be a complete loss this time around, but I'm trying to keep expectations low.

 

[Dentam]

For several years, until I started getting overextended on my finances, what I did was after I paid something off (furniture, washer/dryer, car, etc.) I'd take that payment and continue "paying" it to an earmarked "account" inside my checking balance. That way, when it came time to replace or repair something, I'd just pay for it out of the associated "account". It made balancing my account difficult before I moved to MicroSoft Money and then Quicken, but it accomplished 3 goals: it was a built in emergency fund, it provided a down payment or cash payment for the next time I needed to buy something, and it kept me from overspending. It worked for a while, but I really wish I had kept doing that. Would have built me up a much nicer emergency fund, and probably would have prevented me getting overextended in the first place.

That's a great idea! I will still have more cc debt to pay off and am just really eager to have it gone. I may wait until next spring on the new vehicle so I can use the money that was going to the ccs that I'll pay off first to add to the cc payments for the other cards that will still need to be paid off. I dug myself into quite the cc debt over the past couple of years with living in a high cost of living (especially housing) city and owning a house in another state that consistently lost money every month. I just can't wait to be out of debt again and am very wary of taking on any new debt before I feel more comfortable with where I'm at with my current payments vs. income.

 

[Angeejoe]

I am not stronger than you. I already had in the back of my head that I wanted a short trip in September, just my son and I. I am a TA so I just happened to put one on hold for myself. Haven't decided if I will do it or not yet. I don't like going in September but the low crowds and DS having 2 days off that week for our fair outweighs September. He missed 6 days of school last year for WDW and ended up being sick a lot in Kindergarten so I do not wanthim to miss that much next Year. I'm doing good on credit cards so that is not an issue either

I have great envy right now!! Where are you staying?

Well, the sale of my house is progressing nicely and it looks like it should close on time. I have been going back and forth on whether to use all of the proceeds to pay off my cc's or to set some aside for a down payment on a newer used car (mine is 14 years old)... I think I finally decided tonight that since my car is doing okay I'm going to put that off for awhile and pay down cc's instead. It will save me a lot on what I'm paying in interest and I just don't feel comfortable taking on a car payment plus the increased cost for insurance, etc. Of course, now that I've decided that I'm sure my car will promptly die after I pay off the cc's - ha!

That's awesome that closing is on schedule! I bet you will have a great sigh of relief when it's all done!!!

Are you buying a new car or new to you used car? If it's a new car, I think end of model years has great deals on new cars. My husband says that's usually by July they stop making that current years model, so by August you'll see 2015/2016 deals. So they want to get rid of 2015's then at great deals. So this summer or next summer if you wait you may get a deal.

I don't know if it is exactly an unexpected windfall of money, but ....

(Please don't hate me) my ex-roommate moved back in for a few months. His parents are paying his bills while he is looking for a job, so that is a guaranteed income for a few months at least. He is aware that if he is still unemployed when they decide to stop paying he has to move out. In addition, one of his ex-co-workers husband died a month ago or so, and she is moving into one of my other bedrooms, so that is another unexpected income stream for the foreseeable future. Her general plan is to live here indefinitely (which I think will work for me, but we'll see as time goes on). At a minimum, this will let me pay an extra $800/month towards bills and my emergency fund for the time being. If I can stay committed to that amount, and everyone stays, I can be debt free (minus my mortgage) by January.

We'll see what happens though.

Yeah, long story there. He came back 2 months ago under the same agreement but only stayed 2 weeks and left with another friend for the life on the road. That lasted about 5 weeks and his friend told him "no more. go someplace else." So, he tried to go back to his dad and stepmoms, but then decided he didn't really want to live with them and called me a week ago to see if I was open to him moving back. We set up the agreement again, and 2 days after he got here his ex-co-worker asked him if he thought I would let her move in. So, it may not be a complete loss this time around, but I'm trying to keep expectations low.

Oh boy! I hope that he's behaving for you!

The female roommate sounds more like the type of roommate that you were hoping for, so I'm hoping she's a great match.

 

[Dentam]

That's awesome that closing is on schedule! I bet you will have a great sigh of relief when it's all done!!!

Are you buying a new car or new to you used car? If it's a new car, I think end of model years has great deals on new cars. My husband says that's usually by July they stop making that current years model, so by August you'll see 2015/2016 deals. So they want to get rid of 2015's then at great deals. So this summer or next summer if you wait you may get a deal.

Yes, it will be a HUGE relief since this house has been a money pit for me. I just got my mortgage statement in the mail and it hit me that this is the last one I'll have to pay!! Woohoo!!!

I was planning to get a used vehicle but I'll keep an eye on the sales for newer models this summer too.

 

[Angeejoe]

Yes, it will be a HUGE relief since this house has been a money pit for me. I just got my mortgage statement in the mail and it hit me that this is the last one I'll have to pay!! Woohoo!!!

I was planning to get a used vehicle but I'll keep an eye on the sales for newer models this summer too.

I felt like that a couple years ago when I paid off my car!

 

[k_reile]

I have great envy right now!! Where are you staying?QUOTE]
It will be Pop Preferred room if we go. I am not bring a stroller and when he is tired I want to be close to the room to get back. He will be 2 weeks from turning 7, so this will be a birthday present mainly. I have never stayed at Pop before so I am really excited about that. I did my first Value 2 years ago at Movies and I really liked it (I thought I was a deluxe snob, but found out that I don't really care where I am...but then again you cannot beat the locations of the deluxes) I really wanted CBR pirate room, but it was nearly $900 more for my dates. I was trying to stay as cheap as possible. I'm not sure how much longer we will have chances to go like this, so I would like to go if possible. And it works out that he will only miss 3 days of school and no soccer games due to our fair being that week (we get 2 days off for that)

 

[k_reile]

Oh and I paid off one more credit card today. 2 down, one more to go in May and then the other by the end of this year. So really this trip is a celebration trip lol and it is a real possibility the last one could be paid off before my trip anyways

 

[Dentam]

Oh and I paid off one more credit card today. 2 down, one more to go in May and then the other by the end of this year. So really this trip is a celebration trip lol and it is a real possibility the last one could be paid off before my trip anyways

Nice work!!

 

[ruadisneyfan2]

Well, the sale of my house is progressing nicely and it looks like it should close on time. I have been going back and forth on whether to use all of the proceeds to pay off my cc's or to set some aside for a down payment on a newer used car (mine is 14 years old)... I think I finally decided tonight that since my car is doing okay I'm going to put that off for awhile and pay down cc's instead. It will save me a lot on what I'm paying in interest and I just don't feel comfortable taking on a car payment plus the increased cost for insurance, etc. Of course, now that I've decided that I'm sure my car will promptly die after I pay off the cc's - ha!

If it makes you feel any better my mom's Explorer is 17 yrs old this year. She keeps it in the garage and pretty much just drives it back and forth to the shore each week, about 1 hr each way. I think it still has less than 100k miles and my dad makes sure it gets all the usual maintenance. She kind of wants something more modern, simply to have some cup holders and a key fob, but she always buys new and keeps them a really long time.

Take care of your baby and he'll take care of you.

 

[ruadisneyfan2]

Yes, but I will still need to have a down payment first for the car so will need time to save that up.

But just imagine how fast your savings will grow when you're not paying on any debt!

Dh is already stressing out about buying ds14 a car. (Must be 17 to get a DL in NJ.) Why worry now? Hopefully with all the debt gone soon it will be no biggie to save for an older used car.

 

[ruadisneyfan2]

Just found out today ds18 needs his wisdom teeth pulled. Not that it will be a big bill but he'll need to do it over the summer so he doesn't miss a week of school which means my August week off will be taking him to that instead of a summer vacay. Better to get it done now before he goes away to college and it becomes more urgent some day down the road.
It's just as well. All 4 of us had different opinions on what's a good summer vacation and now with FD calling out to me I can still have the vacation I like. Just a long weekend but it's a nice escape.

 

[Dentam]

If it makes you feel any better my mom's Explorer is 17 yrs old this year. She keeps it in the garage and pretty much just drives it back and forth to the shore each week, about 1 hr each way. I think it still has less than 100k miles and my dad makes sure it gets all the usual maintenance. She kind of wants something more modern, simply to have some cup holders and a key fob, but she always buys new and keeps them a really long time.

Take care of your baby and he'll take care of you.

This car has been very good to me... no major issues and it's gone cross country twice. It has a little over 150K miles on it now.

But just imagine how fast your savings will grow when you're not paying on any debt!

Dh is already stressing out about buying ds14 a car. (Must be 17 to get a DL in NJ.) Why worry now? Hopefully with all the debt gone soon it will be no biggie to save for an older used car.

Yes, but I still need to pay off other cc's so that's the dilemma... kind of a gamble really hoping the current car will last until I'm able to pay down the cc's to a level that I'm more comfortable with which will allow me to save a bigger chunk each month toward a down payment.

Three years is a good amount of time to save especially for a first car - I think mine only cost 2-3K back when I was in high school. Not that it was a great car at all, ha!

 

[Angeejoe]

/QI have great envy right now!! Where are you staying?QUOTE]
It will be Pop Preferred room if we go. I am not bring a stroller and when he is tired I want to be close to the room to get back. He will be 2 weeks from turning 7, so this will be a birthday present mainly. I have never stayed at Pop before so I am really excited about that. I did my first Value 2 years ago at Movies and I really liked it (I thought I was a deluxe snob, but found out that I don't really care where I am...but then again you cannot beat the locations of the deluxes) I really wanted CBR pirate room, but it was nearly $900 more for my dates. I was trying to stay as cheap as possible. I'm not sure how much longer we will have chances to go like this, so I would like to go if possible. And it works out that he will only miss 3 days of school and no soccer games due to our fair being that week (we get 2 days off for that)

It sounds like you will have a blast! I'm a deluxe girl myself (well DH says if no deluxe he won't go & I like to go) we do a lot of arrival nights at values since we arrive so late, but 2 yrs ago my aunt & I did a Pop stay in 2013 & had a blast. My aunt who rarely travels (when I say rarely I mean 2 vacations in 30 yrs as her DH has anxiety & won't travel), she thought it was the nicest hotel & had the best time. We stayed in the 60s section right around the corner from the hippy dippy pool. You're going to have a great time!

It sounds like you will have a blast! I'm a deluxe girl myself (well DH says if no deluxe he won't go & I like to go) we do a lot of arrival nights at values since we arrive so late, but 2 yrs ago my aunt & I did a Pop stay in 2013 & had a blast. My aunt who rarely travels (when I say rarely I mean 2 vacations in 30 yrs as her DH has anxiety & won't travel), she thought it was the nicest hotel & had the best time. We stayed in the 60s section right around the corner from the hippy dippy pool. You're going to have a great time!

 

[Angeejoe]

Just found out today ds18 needs his wisdom teeth pulled. Not that it will be a big bill but he'll need to do it over the summer so he doesn't miss a week of school which means my August week off will be taking him to that instead of a summer vacay. Better to get it done now before he goes away to college and it becomes more urgent some day down the road.
It's just as well. All 4 of us had different opinions on what's a good summer vacation and now with FD calling out to me I can still have the vacation I like. Just a long weekend but it's a nice escape.

I had my wisdom teeth out my senior high school on the last day of class before Christmas break, I was so miserable. Plus all my family kept telling me I had mustard on my face, I had to keep saying "I'm bruised from my wisdom teeth extraction." I think you're wise for doing it over the summer!

 

[ruadisneyfan2]

I had my wisdom teeth out my senior high school on the last day of class before Christmas break, I was so miserable. Plus all my family kept telling me I had mustard on my face, I had to keep saying "I'm bruised from my wisdom teeth extraction." I think you're wise for doing it over the summer!

That's awful! What a way to ruin your Christmas.
I was 24 by the time I did it, worked for my current employer, and only took off a 4 day weekend including the day of the procedure. Crazy! No way was I ready to go back to work so soon and ended up calling out the day I was due back. I also developed a dry socket (was a smoker back then, and a hard-head) which was sooo painful and felt guilty for calling out and then needing to miss more time to keep going back to have the dry socket packed. The stress of missing work was as bad as the pain.

So I'd like to be available for him in case he should develop any complications or needs to go back to the surgeon. I considered waiting until his winter break from college, after New Years but if there's snow or bad weather, we might have to reschedule. So summer it is.

 

[ruadisneyfan2]

The good part is that because my medical insurance covered it, and my dental insurance also, they overpaid the surgeon so he sent me a check for around $400 right before Christmas. (Had it done in Oct.) This was a pretty good chunk of change in 1991.

I'm sure nowadays the insurance companies discuss it all so the patient doesn't make any money. lol.

 

[Angeejoe]

That's awful! What a way to ruin your Christmas.
I was 24 by the time I did it, worked for my current employer, and only took off a 4 day weekend including the day of the procedure. Crazy! No way was I ready to go back to work so soon and ended up calling out the day I was due back. I also developed a dry socket (was a smoker back then, and a hard-head) which was sooo painful and felt guilty for calling out and then needing to miss more time to keep going back to have the dry socket packed. The stress of missing work was as bad as the pain.

So I'd like to be available for him in case he should develop any complications or needs to go back to the surgeon. I considered waiting until his winter break from college, after New Years but if there's snow or bad weather, we might have to reschedule. So summer it is.

It seems like such a simple procedure, like "it's just unneeded teeth, you loose baby teeth." Holy heck, did it hurt. I was vomiting, in horrible pain & had headaches all over the happiest time of year!

Your son will be happy to get it done during the summer, then it won't impact his classes.

 

[bcwife76]

Just checking in, glad to see so many making progress!! As for those that have had some setbacks as of late, I totally get that too But I think we are all working towards a common goal, will take some of us longer than others to get there, but we're all in it together

For us, May will see our last preschool tuition payment coming out!! For the past 4 years we've been paying preschool tuition for our kids and it goes up every year. I know this isn't as much as, say, private school or college. But still, happy dance!!! That'll be another $185 back in our pockets every month (and can then be rerouted to debt payments). Starting in July the 'free' money the Canadian gov't gives to families for various tax credits is going up, an extra $120/month! Woohoo. That extra is going straight into the kids accounts. Starting this month the province of BC is giving families with kids under 6 an extra $55/month, too! So we get that for the next 18 months (our oldest is 7 and doesn't get it) so that also gets funneled into their accounts. Having kids has finally 'paid' off ;-) DH will also be picking up a bit of extra $ this month; May is a 5 paycheque month (he gets paid every Friday) and he's working a sweet overtime gig this coming Sunday morning, 4 hours of overtime for doing virtually nothing, love it! Of course that overtime pay will go straight to the line of credit, but that's ok too!

 

[Dentam]

Wow, I want to move to Canada! I will be visiting Victoria, BC this July!

I will also be picking up over 20 hours of overtime this next week so that'll be going toward cc payments as well. Baby steps!