chapeau
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Joined: Jan 17, 2013 10:50:04 GMT -5
Posts: 1,649
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Post by chapeau on Feb 2, 2019 15:53:25 GMT -5
Finally had time to sit down and see how small a dent the extra I was able to pay this month was. Scratch may be more like it...
chapeau: UPDATE: $24,919.46 (12/31/2018 $26256.83 WIR 186)
Debt | Starting Balance
| Interest Rate
| Previous Balance
| New Balance
|
| Subaru | $8,500
| 8.98% | $3383.09 | $3095.35 |
| Jeep | $8157.05 | 3.79% | $8157.05 | $8000.70
|
| Pension buyback
| $6210.21 | ?? | $6210.21
| $6210.21
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| Debt Management
| $15,000
| various | $8506.48 | $8228.84 |
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Debt balance went down by 2.82% this month. I think. My new goal is to be able to make an extra payment on the Subaru that is more than the monthly interest, so every dime of the monthly payment reduces the principal. And since the Jeep interest rate is less than half of the Subaru rate, I'm not rounding that payment but adding the rounding for that one to the Subaru. I want to have that one paid off before the end of the year... Still don't have firm numbers on the pension buyback. I had to notify them of my choice on a couple of options, but that's taken care of now. They're saying hopefully March now. I don't want to know, but I do.
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imanangel
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Joined: Jun 8, 2014 12:18:00 GMT -5
Posts: 1,042
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Post by imanangel on Feb 2, 2019 17:55:22 GMT -5
It feels good to see a dent. That's a big dent! Yes, it is. I can't wait to dent the crap out of the Capital One bill.
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sealy
Familiar Member
Joined: Dec 22, 2010 2:49:52 GMT -5
Posts: 956
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Post by sealy on Feb 3, 2019 18:37:23 GMT -5
sealy I'm so sorry about all these challenges. Is the car worth putting 2.5K into?
Would a moped or scooter be an option for him (even temporarily)?
Could he move closer to college?
Wishing you both the best.
It was less than 2.5K. I believe it was worth it because if I bought another car for that or less, there's no telling what problems that car would have. I know the issues of the car he has. A moped or a scooter wouldn't work because of the rainy weather here. Thank you so much for giving me more options.
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sealy
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Post by sealy on Feb 3, 2019 18:41:02 GMT -5
I'm excited because my totals are lower. I can't wait to have a bunch of zeros. I will post an update soon. Thank you all for your support.
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movinonup
Established Member
Joined: Feb 7, 2013 7:44:03 GMT -5
Posts: 318
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Post by movinonup on Feb 3, 2019 19:11:19 GMT -5
update - movinonup: 02/01/2019 $243,106.02 (02/12/2013 $309,217.65 NE100) NYAccount | Standard Interest Rate
| Monthly Interest
| 02/12/2013
| 01/01/2019 | 02/01/2019 | Balance Reduction Since Last Update
| Total Balance Reduced
| Percentage Reduced
| LOC | 18.24% | $12.73 | $3,500.00 | $0.00 | $300.58 | $(300.58) | $3,199.42 | 91.41% | CC#1 | 18.99% | $0.00
| $20,688.08
| $0.00 | $13.50 | $(13.50) | $20,674.58 | 99.93%
| CC#2 | 16.99% | $0.00 | $(8.16)
| $0.00 | $4,075.83 | $(4075.83) | $(4,083.99) | (50,048.90)%
| CC#3 | 19.99% | $0.00 | $10,300.00
| $0.00 | $0.00 | $0.00 | $10,300.00
| 100.00%
| CC#4 | 16.99%
| $78.81 | $9,135.05
| $4,700.00 | $4,844.94 | $(144.94) | $4,290.11
| 46.96% | CC#5 | 10.99% | $36.91 | $4,910.22
| $5,003.63 | $936.91 | $4,066.72 | $3,973.31
| 80.92%
| CC#6 | 0.00% | $0.00 | $1,239.00 | $0.00 | $0.00
| $0.00 | $1,239.00 | 100.00% | CC#7 | 20.99% | $0.00 | $0.00 | $0.00 | $0.00
| $0.00 | $0.00 | 0.00% | SL#1 | 3.50% | $31.80 | $23,021.50
| $10,705.83 | $10,552.37 | $153.46 | $12,469.13 | 54.16%
| SL#2 | 6.80% | $0.00 | $4,748.54
| $0.00 | $0.00 | $0.00 | $4,748.54
| 100.00%
| SL#3 | 6.55% | $0.00 | $2,533.57
| $0.00 | $0.00 | $0.00 | $2,533.57
| 100.00% | MTG | 3.875% | $656.96 | $220,170.76 | $203,446.50 | $203,035.08 | $411.42 | $17,135.68
| 7.78%
| Auto
| 4.24%
| $0.00
| $8,979.09
| $0.00
| $0.00 | $0.00
| $8,979.09
| 100.00%
| HELOC | 2.25% | $84.63 | $0.00 | $19,362.18 | $19,346.81 | $15.37 | $(19,346.81) | 0.00% | Total
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| $901.84
| $309,217.65
| $243,218.14 | $243,106.02 | $112.12 | $66,111.63 | 21.38%
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EF = $111.19 A little progress. I did transfer a balance to CC#2 from CC#5. This will save me a few bucks in interest, but it cost a little more up front. Since my WIRRiversary is coming up on the 12th, I will be posting another update that day, or shortly thereafter. -movinonup
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sealy
Familiar Member
Joined: Dec 22, 2010 2:49:52 GMT -5
Posts: 956
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Post by sealy on Feb 5, 2019 14:25:55 GMT -5
I’m saving my money for summer but I’m worried about my taxes.
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nooccar
Junior Member
Joined: Jan 6, 2011 1:54:02 GMT -5
Posts: 165
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Post by nooccar on Feb 5, 2019 14:50:35 GMT -5
Update:
Nooccar (2): 2/5/2019 $47,266.35 (11/4/2010 $73,475.09 WU197)
Stay safe & warm, everyone!
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nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,582
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Post by nidena on Feb 6, 2019 11:46:09 GMT -5
For some strange reason, I was thinking I'd get my GIBill payments this month. Yesterday, I realized that my brain had lead me astray. I never get the payments on the 1st of the month that comes immediately after the start of the term. I won't get anything any earlier than the second month's 1st i.e March 1st not February 1st for a January 14th term start. Ugh! That's a large chunk to no longer be expecting for this month.
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Post by crisde2bdebtfree on Feb 7, 2019 19:32:31 GMT -5
UPDATE
Crisde2bdebtfree—2/6/19-$30,4922.22-(10/1/18—$32,600.00)
1. Chase 1--$1467.19—decrease--$35.28
2. Chase 2--$4,911.12—decrease--$47.35
3. MC—$0.00—decrease—$650.89
4. Citi--$8994.29—increase—$78.83
5. NEFCU--$9,980.23—no change
6. Macys--$2315.72—no change
7. Kohls--$2814.39—no change
Total change this update--$654.69
Total paid to date --$2107.78
My phase 1
1. MC--$650.89 Paid in Full $0 Balance
2. Chase 1--$1467.19
3. Kohls--$2814.39
4. Macys--$2315.72
Four zero balances—this is my goal for this year
I am moving in the right direction—My first zero balance—one down three to go to complete my phase 1
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ners
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Member is Online
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Post by ners on Feb 8, 2019 14:48:39 GMT -5
Update Race 2
10613.59 (4/21/18 12161.07 WIRR 172)
226.57 paid this month. The payment was 25.00 more than normal. Every little bit helps.
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nidena
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Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,582
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Post by nidena on Feb 8, 2019 18:18:50 GMT -5
Today added $500 to my credit card. Plus another $30 for the pizza that I'm going to eat because I don't feel like doing anything except sit on the couch. I think today hurt more than losing my mom back in October. Probably because Mocha has been a part of my everday life for the past 15 years.
So, here's my update:
nidena: 2/18/2019 $175,056.64 (8/22/2007 $223,361.20 N453,503,NE648,NPT25)
Up $600 from December but, today, I don't care. Besides, the balance will go down in time. Especially once the GIBill payments get disbursed to my account in the coming weeks.
You guys have a good weekend.
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seriousthistime
Senior Member
Joined: Dec 22, 2010 20:27:07 GMT -5
Posts: 4,707
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Post by seriousthistime on Feb 8, 2019 22:40:39 GMT -5
Today added $500 to my credit card. Plus another $30 for the pizza that I'm going to eat because I don't feel like doing anything except sit on the couch. I think today hurt more than losing my mom back in October. Probably because Mocha has been a part of my everday life for the past 15 years. So, here's my update: nidena: 2/18/2019 $175,056.64 (8/22/2007 $223,361.20 N453,503,NE648,NPT25)Up $600 from December but, today, I don't care. Besides, the balance will go down in time. Especially once the GIBill payments get disbursed to my account in the coming weeks. You guys have a good weekend. Sorry nidena. It's tough. Anyone who's been there knows how tough it is.
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debthaven
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Post by debthaven on Feb 9, 2019 4:07:54 GMT -5
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sealy
Familiar Member
Joined: Dec 22, 2010 2:49:52 GMT -5
Posts: 956
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Post by sealy on Feb 9, 2019 4:50:51 GMT -5
Looking back and feeling sad I was almost there. Starting over again is tough. I just have to hang in there and remember this moment. I will get more roses. I will get more roses. I will . . . Ending on a positive note. I am closer to paying off my house. $275,489.10 left to go from over 300K. Sealy Race #1 DEBT | CURRENT | PAST | STARTING
| TOTAL PAID
| % PAID OFF
| ROSES
| EMOTIONS
| CAR | $0
| $0
| $14,524.40
| $14,524.40
| 100%
|
|
| CC #1
CC #1 AGAIN
| $0
$0
| $0
$870
| $4,944.90 2/9/13
$8097.01
| $4,944.90
$8,097.01
| 100%
100%
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| CC #2 CC #2 AGAIN CC #2 AGAIN
| $0 $0 $0 | $0 $0 $884.39 | $5,520.78 $2,655.79 $5,300
| $5,520.78 $2,655.79 $5,300 |
100% 100% 100%
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| CC #3 | $0
| $0
| $132.53 | $132.53
| 100% | |
|
SL | $0 | $0 | $250 | $250.0 | 100% | |
| SCULPTURE | $0 | $0 | $5,000 | $5,000.00 | 100% |
| | TOTAL
| $0
| $884.39
| $46,425.41 | $46,425.41 | 100% |
| WINNER!!!!
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sealy (1): 05/17/17 $0 (2/1/13 $46,425.41 W68) difference $46,425.41Sealy Race #2 DEBT | CURRENT | PAST | STARTING | TOTAL PAID | %PAID | ROSES | EMOTIONS | HOUSE | $289,380.00 | $289,998.00 | $335,199.00 | $45,818.00 | 14% | COMING SOON | EXCITED | | | | | | | | |
sealy (2): 05/17/17 $289,380.00 (12/04/12 $335,199.00) difference $45,818.00
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seriousthistime
Senior Member
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Posts: 4,707
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Post by seriousthistime on Feb 9, 2019 9:51:21 GMT -5
Congratulations on Race 1, sealy!
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sealy
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Joined: Dec 22, 2010 2:49:52 GMT -5
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Post by sealy on Feb 9, 2019 22:41:29 GMT -5
seriousthistime thank you but that one was almost 2 years ago. Murphy grrrrr I just finished my taxes on turbo tax and it shows that I owe almost $3,200 That's more than half of my summer pay.
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nidena
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Posts: 3,582
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Post by nidena on Feb 10, 2019 12:50:20 GMT -5
seriousthistime thank you but that one was almost 2 years ago. Murphy grrrrr I just finished my taxes on turbo tax and it shows that I owe almost $3,200 That's more than half of my summer pay.
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sealy
Familiar Member
Joined: Dec 22, 2010 2:49:52 GMT -5
Posts: 956
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Post by sealy on Feb 12, 2019 9:30:16 GMT -5
VENTING: I’m trying to be debt free and save money. I’m feeling discouraged because it’s hard. Murphy doesn’t seem to leave me alone. I have saved $6K for my summer pay but stuff keeps coming up like taxes and stuff. I am determined to be debt free but today I’m just having a hard time with everything that keeps coming up. I owe 25K for my truck 19K on my discover 1K on a personal loan $200 to Best Buy. I have taxes and tags coming due I don’t want to be a Debbie Downer because I know this is my own fault. I just needed to vent.
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Minnesotagirl7
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Joined: Dec 27, 2010 11:43:59 GMT -5
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Post by Minnesotagirl7 on Feb 12, 2019 11:48:07 GMT -5
sealy Vent away! That's what we're here for. Sorry you're struggling right now. But hang in there, the light at the end of the tunnel may be dim, but its there!
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Minnesotagirl7
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Post by Minnesotagirl7 on Feb 12, 2019 11:55:04 GMT -5
Update! | 3/18/18 | 1/11/19 2/12/19 | Total Difference | Car | $21,609.86 | $13,941.94 | $13,176.69 | $8,433.17 | HVAC loan | $9,410.00 | $0.00 | $0.00 | $9,410.00 | Total | $31,019.86 | $13,941.94 | $13,176.69 | $17,843.17 |
Diff Last Post | $765.25 | Total Amt Pd | $17,843.17 | Total % Pd | 57.5% |
Minnesotagirl7 [5]: 2/12/19 $13,176.69 (3/18/18 $31,019.86 C171) A little update on the car loan. I was able to throw a little extra at it, but that likely won't happen again for a while. I'm starting a new job in a couple weeks, and because of that we're going to be moving. (I refuse to drive 45 min one-way.) Our little family of four is still doing well. We are once again blessed with a good baby. Can't believe we're going to move with two little kids, but what's life without a little shakeup now and then?! Happy racing all!
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nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
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Post by nidena on Feb 12, 2019 13:21:19 GMT -5
VENTING: I’m trying to be debt free and save money. I’m feeling discouraged because it’s hard. Murphy doesn’t seem to leave me alone. I have saved $6K for my summer pay but stuff keeps coming up like taxes and stuff. I am determined to be debt free but today I’m just having a hard time with everything that keeps coming up. I owe 25K for my truck 19K on my discover 1K on a personal loan $200 to Best Buy. I have taxes and tags coming due I don’t want to be a Debbie Downer because I know this is my own fault. I just needed to vent. I feel you! You got this! Vent all you need.
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sealy
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Post by sealy on Feb 13, 2019 1:50:05 GMT -5
Thank you all very much.
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chiver78
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Post by chiver78 on Feb 13, 2019 8:35:37 GMT -5
okay, I'm officially jumping back into the race for real. I actually reached the end of the worksheet I'd been using since 2008 and had to start a new sheet for 2019. I'm taking that cue to update my starting number to actual, removing accounts that were paid off, and just dig in and knock it out. my original start # is burned into memory, and there will be for all when I get back down to that number for sure. but I want to be honest with myself about the size of the hole I dug, and make sure I never find my way back this far into it again. this table is going to have interest detail in it for information, but I'm not going to carry that here moving forward with updates. I do have it in my spreadsheet where I can see it, though. those columns will become "running balance" and "PAID OFF!" next month. I'm also not including a lump sum payment that's planned for Monday in my start totals, but I have set up to pay off the balance under an obnoxious interest rate that I had mentioned before vacation. that BofA #1 card will have $1500 off the balance in a few short days. this is a really ugly number, but I'm going to do this. I'm hoping to be able to throw an additional $1k/month on top of what had already been set up for auto-pay toward my snowball. that number may increase as I see what enrolling in 401k does to my paycheck, but I'll start there. 1st target to attack is Citi #2. I also have a prorated bonus payout of some sort to expect at the end of March. ALL of that is going to payoff. creditor | original balance 13Feb19 | interest rate(s) | promotional rate end date | Chase | $9625.08 | 15.99 |
| Discover #1 | $13,119.16 | 12.99 |
| AmEx Blue | $13,190.21 | 11.99 |
| Discover #2 | $5541.15 | 14.99 |
| 1st National | $23,516.06 | 5.99/19.99 | life of bal/purch | BofA #1 | $19,380.84 | 0/12.24 | 8-2019/BT rate post-promo | Citi #1 | $4740.74 | 13.99 |
| SMCU | $9281.03 | 2.99 | 12-2019 | Citi #2 | $6523.17 | 23.99
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| BofA #2 | 9286.50 | 1.99 | 8-2019 | BCU | $7575.04 | 12.99 | <- I think? I can't pull statements online and the interface sucks, it doesn't show interest or current due. | total | $121,788.98 |
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apologies for the busted tagline, I'm not sure how we're doing them now for new races. please lmk if need be and I'll fix next time! chiver78: 2/13/19 $121,788.98 (2/13/19 $121,788.98)
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idlechatter
Initiate Member
Joined: Sept 7, 2013 15:12:54 GMT -5
Posts: 70
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Post by idlechatter on Feb 13, 2019 12:25:15 GMT -5
I've resolved that this will be the FIRST time ever that I will have not used my bonus to pay down my credit card debt. For the last five years, I've always used part of it to pay down credit cards. I refuse this year and I think it's the first year I won't resort to using the cards throughout the year to run a balance I can't pay off the same month because I had to earn this payoff through months of paydown rather than just paying it off and running it up again knowing I could use my bonus to pay it all off at once. A great place for that bonus is savings. So join the 2019 Women in Red Savers! It's a wonderful place to be to watch that money grow. And I agree with your last sentence. Sometimes you have to "hurt" to make change really stick. I've won four or five (maybe 6?) Races here and paid off well over $100k in about 10 years. I now just have my mortgage and car payment, which I don't race. But to finally win those races, I had to do the hard work, and it's very unappealing to think about going back to that place when I remember what it took to get out of there. I think debt racing has phases. It starts with scrimping to make minimum payments only, then trying the debt snowball, then the balance transfer game, then really snowballing and eliminating (and not running up) CC debt to a point where a particular card stays at zero while you pay off the other ones, and any card you use gets paid in full each month. Eventually, if you keep working it, you get there. Along the way, you realize you've gotten to a point where you're managing your debt instead of your debt managing you.
Hi seriousthistime! Thank you for the encouragement! I joined the Savers last year, and while I did actually save the money associated with all of my goals (most of which were sinking funds. I'll have to go and post an update there about that!), I typically cannot set up my savings goals until after Feb 15 each year as that's when I get my bonus so then I can figure out what to allocate to savings vs debt. This year I'm actually planning a vacation if you can believe it! But I think I will set up my 2019 savings goals today with an estimation of my bonus net of taxes. It will not be nearly as aggressive as last year's goals. I do still have about $50K in debt to pay off as well.
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nikiz628
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Post by nikiz628 on Feb 13, 2019 13:19:45 GMT -5
UPDATE 2/13/2019 RACE#3
Race #3 | Interest | Starting Balance | Last Update | This Update | Difference | Citi Best Buy CC | 0% (18 months) | $1,534.92 | $664.21 | $557.41 | -106.80 |
NikiZ628(3): 2/13/19 $557.41 (3/14/18 $1,534.92, WIRR171)
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nidena
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Post by nidena on Feb 13, 2019 13:26:34 GMT -5
I remembered to canx auto-renew on SurveyMonkey. It isn't scheduled to renew until the end of March but that's $408 that I won't be spending there.
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ners
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Post by ners on Feb 13, 2019 19:49:59 GMT -5
Race 1 Update
73,808.09 (1/3/2011 $97,382.42 MPT5)
332.26 paid this month. On pace to hit goal so far this year.
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chiver78
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Post by chiver78 on Feb 13, 2019 19:50:02 GMT -5
you're fine. delete if you like. please know that I am not taking it personally, and I can and will dig out all on my own. I havent spent a dime on the roommate in weeks or more, and my regular paid (Rover.com) dog walker starts on Monday. that's all I'm going to tackle right now, but I did read your whole comment.
not that it matters, but for perspective - my new annual salary is around that number. and, that $1k snowball will increase, I just wasn't sure what to start with considering 401k deductions haven't hit yet. right now, I'm at the point of recognizing bad decisions, figuring out a way out, and minizing further damage. as long as I'm not spending $ on him and he's still doing things for the house and dogs, that's a positive in my book right now.
I'm heading to bed soon, I promise I'm not ignoring anyone.
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chiver78
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Post by chiver78 on Feb 15, 2019 7:39:45 GMT -5
hmm.....checked the direct deposit this am and the number was $500 less than 2w ago. need to log in and check the pay stub to see if that's all 401k deductions, or if maybe I didn't have ANY deductions last check. remember - last check was dated 2/1 and I may not have had any insurance deductions, either. but woof, that's a hit. looking at the cash flow spreadsheet now, don't think I'll have to renege on that $1k/month snowball commitment, just that I don't think I can increase it as much as I thought (in the near future) if this is the correct number moving forward. onward and upward! ETA: nope, I figured out the problem - that first paycheck didn't actually have my car payment skimmed off the top for the CU account. what I saw when I logged in to check was apparently the deposit from the train wreck, a week prior. I don't use that account for hardly anything but the car payment, so that was the most recent activity. and then there is $183 for the 401k. this will be the correct number moving forward. I can live with that.
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nidena
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Post by nidena on Feb 15, 2019 10:53:14 GMT -5
Meeting with realtors, today, to discuss the pros/cons of renting, rent-to-own, and outright selling of my house. I aim to be out of here by September.
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