Debt Dumpers 2024

[pblack]

2025 Thread for those of you that are ready for it: https://www.disboards.com/threads/debt-dumpers-2025.3958979/

 

[WDW_fan_in_TX]

Thank you. Was just thinking about the 2025 version at lunch today while eating my sandwich. Was curious if someone would start one soon since a lot of folks are already planning ahead to 2025. So thanks for posting.

2025 Thread for those of you that are ready for it: https://www.disboards.com/threads/debt-dumpers-2025.3958979/

 

[barkley]

We moved to an all electric car last year thanks to great tax incentives for business purchases. Thanks to our local authority being very slow to adapt to changes in the modern world (and not having worked out yet how to make money from it) we have to rely on public chargers which mean recharging is a lot more than it would be if we could charge at home, but it is what it is for now.

As a result we are reasonably good at spotting ways to maximise the miles per chargee and not having the in car heating on is one of those as it takes about 10% off the economy. The heated seats, however, don't affect it so we use those a lot. They have definitely been added to the required list for any future vehicle.

yeah-that would not work for us. we personally have allot invested in a propane powered whole house generator b/c we learned after a region wide wind storm several years back (pre popularity of electric cars and charging stations) that the infrastructure in our region is helpless absent power. we saw hospitals, lodging, grocery stores, gas stations and such down and out b/c their generators were only set up to operate for a few days (not a week or more). I don't know what upgrades they've done since then but I suspect the public charges are a lower priority than the hospitals and warming shelters. I know some neighbors have home chargers for their cars and I'm not sure how/if they can operate off a generator but I know their costs in general will be increasing b/c the local utility just notified that it's rates will be increasing by 15% in 2025.

 

[Nettlelondon]

yeah-that would not work for us. we personally have allot invested in a propane powered whole house generator b/c we learned after a region wide wind storm several years back (pre popularity of electric cars and charging stations) that the infrastructure in our region is helpless absent power. we saw hospitals, lodging, grocery stores, gas stations and such down and out b/c their generators were only set up to operate for a few days (not a week or more). I don't know what upgrades they've done since then but I suspect the public charges are a lower priority than the hospitals and warming shelters. I know some neighbors have home chargers for their cars and I'm not sure how/if they can operate off a generator but I know their costs in general will be increasing b/c the local utility just notified that it's rates will be increasing by 15% in 2025.

Fortunately the suburbs of London (and the majority of the UK to be honest) are largely immune from extreme weather issues.

I am very much an urban animal - if a major supermarket chain is not my corner shop it is too remote for my liking. Over here there is a very popular TV show called "Escape to the Country" where an expert helps people find new homes in the country. It is a horrific idea to me. So the thought of living somewhere that requires a generator is just really not my thing at all. We are fortunate that just after we purchased the car a bank of 12 Tesla superchargers was put in 2 minutes drive from home so it isn't a big issue to charge.

 

[firefly_ris]

yeah-that would not work for us. we personally have allot invested in a propane powered whole house generator b/c we learned after a region wide wind storm several years back (pre popularity of electric cars and charging stations) that the infrastructure in our region is helpless absent power. we saw hospitals, lodging, grocery stores, gas stations and such down and out b/c their generators were only set up to operate for a few days (not a week or more). I don't know what upgrades they've done since then but I suspect the public charges are a lower priority than the hospitals and warming shelters. I know some neighbors have home chargers for their cars and I'm not sure how/if they can operate off a generator but I know their costs in general will be increasing b/c the local utility just notified that it's rates will be increasing by 15% in 2025.

Same, we have a gas/electric non-plug-in hybrid as our second vehicle and that works great for us, except it's not great in real bad weather, the F-150 does the heavy lifting there (and camper towing). We live rurally and between lake effect snow and wind we lose power probably 7 or 8 times per year and run a generator... it's not a whole house generator but it runs 6 breakers worth of stuff so I can still run the furnace (gas furnace but blower needs power obviously), fridge, upright freezer in the basement, some lights, and our router as long as the internet isn't also down. I don't think it would have enough juice to also charge a car in the garage. The only public chargers I ever see around here are in the city. Our electric rates also went up a significant amount in the last year so not sure exactly how much it would affect that bill -- my natural gas is more affordable so I has as many appliances as I can continue to run on gas... not to mention the whole cooking with the power out thing.

My younger BIL lives downtown and doesn't drive a lot and has a Tesla and it works really well for him. It's nice because he doesn't need to worry about oil changes or transmission fluid leaks or stuff like that. For our personal family purposes and location it's just not there yet.

 

[ruadisneyfan2]

I really wanna do DCL, but their prices . I just can't justify it lol. It will happen eventually though. I really wanna go on the treasure because of the haunted mansion bar.

They just announced kids sail half price for Disney+ subscribers.
https://dclfan.com/discounts/disney-subscribers-save-50-off-for-kids-on-select-cruises/

 

[pblack]

They just announced kids sail half price for Disney+ subscribers.
https://dclfan.com/discounts/disney-subscribers-save-50-off-for-kids-on-select-cruises/

Nice!! I don't have kids, so it wouldn't help me any. But I'm sure there are some people on this board who may benefit from it!

 

[ruadisneyfan2]

Nice!! I don't have kids, so it wouldn't help me any. But I'm sure there are some people on this board who may benefit from it!

Oops! I thought I was sending it to tygerlilly. With 3, that could be significant savings for her.
Ours are grown so it doesn't help us at all either.

 

[ruadisneyfan2]

Thanks. I wasn't sure what a sinking fund was. But I did look it up to understand it better. Ours would be like car repairs and medical bills/doctors visits, although those might be more suited for the emergency fund category, and vehicle registration, stuff like that. We don't really celebrate birthdays, and we don't buy gifts for Christmas. We simply get together, eat, play games and hang out. Also, our insurance comes out monthly for 12 months. So that's figured into the monthly budget. But I appreciate your help with everything.

You could also use a sinking fund for a monthly bill that takes more than one paycheck in order to pay it such as rent. So for example, choosing random easy numbers, let's say your rent is $1000/month but it would be difficult/impossible to take the full amount from one paycheck, but $500 from 2 checks is doable, just put the first $500 in its own savings account until you have the other $500, then pay the whole $1000 right away from that account, even if you pay it early. This is what I love about Ally Bank, that it's so easy to keep adding more savings accounts and giving them nicknames.

I also use sinking funds for bills that are not monthly such as car insurance, quarterly sewer bill (even though it's only $83) property taxes, etc. EF is for unexpected expenses such as running over a nail and needing a new tire. Sinking funds are for planning ahead for known expenses. If they tell you that your tires have another 5000 miles on them, start a tire fund. When the time comes, the money is there and ready to roll. So much less stressful than being shocked that a car needs tires and wondering how to pay for it.

Most car insurance companies will give you a discount for paying the bill in fewer payments. On your bill, compare the cost of 12 monthly payments vs. 1 annual lump sum payment. This is probably down the road for you, after all your debt is gone and bill paying/saving gets smoother for you. At some point, you could save a little each pay into a car insurance fund, so that when your new insurance policy is issued, you just pay it from the car ins fund. Of course, if it's not any cheaper to pay in full, and monthly is easier, then keep at it.

I hope your wife is warming up to the idea of being financially organized and out of debt.