debthaven
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Post by debthaven on May 15, 2019 15:15:49 GMT -5
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ners
Junior Associate
Joined: Dec 23, 2010 16:21:18 GMT -5
Posts: 6,488
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Post by ners on May 16, 2019 5:21:40 GMT -5
Update Race 172706.40 (1/3/2011 $97,382.42 MPT5) 439.53 paid this month. Will be slowing down this amount for an undetermined time. Hugs bankergurl.
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Minnesotagirl7
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Joined: Dec 27, 2010 11:43:59 GMT -5
Posts: 1,796
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Post by Minnesotagirl7 on May 16, 2019 7:46:15 GMT -5
Update!!!
| 3/18/2018 | 5/9/2019 | 5/16/2019 | Total Difference | Car | $21,609.86 | $11,461.20 | $0.00 | $21,609.86 | HVAC loan | $9,410.00 | $0.00 | $0.00 | $9,410.00 | Total | $31,019.86 | $11,461.20 | $0.00 | $31,019.86 |
Diff Last Post | $11,461.20 | Total Amt Pd | $31,019.86 | Total % Pd | 100.0% |
Minnesotagirl7 [5]: 5/16/19 $0.00 (3/18/18 $31,019.86 C171, 173)
The car is paid off and this race is history.
We were very fortunate to have received a modest inheritance, which is why we were able to pay off the car early. We have a lot of expenses related to our upcoming move and getting our current house ready to sell. The inheritance will allow us to pay cash for everything.
With race #5 in the books, all we have left are our two mortgages. Hoping to drop one of those in the next couple months.
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nidena
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Post by nidena on May 16, 2019 13:21:35 GMT -5
One thing that I like about this time of year is that it's the end of my Budget Billing cycle for the gas company--my heating company. I usually have a credit built up and this year is no exception. So, the next bill will be paid out of that credit, I'll call next month to request a refund of the remainder, and I can reallocate that payment to something else for the next three months. Being that I have $2700 left on the HVAC balance, every extra penny is going to that as fast as possible. What's really awesome is that if I had stuck to the payoff schedule for the HVAC, I would have paid more than $13,000 in interest. When all is said and done, I'll have paid no more than 10% of that amount. Even with absorbing costs to the CC to be able to put extra towards the HVAC, I won't have accrued all that much interest on the CC either. It'll be paid off once I move, once the house is sold, and once I pay off the HVAC. I received monetary gifts for the graduation and my birthday as well. Those, too, will go towards the HVAC.
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nidena
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Post by nidena on May 16, 2019 20:59:08 GMT -5
Guess who forgot to file taxes last month... So...I just paid nearly $100 via TurboTax to get back $304 from Federal and pay State $5. We'll see if State decides I owe them more. But, seriously, it doesn't even feel like it was worth it at that cost.
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nidena
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Post by nidena on May 17, 2019 13:55:35 GMT -5
Had an interview for a new part-time job today and got the job. Same location as the current part-time, though it is much closer to the highway offramp and I won't have to go *into* the mall parking lot. It's also .88/hour more than the current part-time. I'll get quite a few hours in the two weeks before the store opens on June 13th so I'm looking forward to receiving a nice chunk of change next month.
Enjoy your weekend, Racers!
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chicg
Familiar Member
Joined: Dec 27, 2010 15:55:49 GMT -5
Posts: 742
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Post by chicg on May 17, 2019 14:01:51 GMT -5
UPDATE Chicg [2] - 5/17/19,$10,696 (11/7/14, 4217.34 MPT266)
Discover $10,696
I'm behind my schedule already but at least didn't accrue more debt. Nothing major expected this month, just chugging along. I have some garden expenses but will try to cut back a little so I can throw an additional payment to my cc by the end of the month. Goal is $800/mo payment, right now I'm only down $500.
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Maryland Monroe
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Joined: Dec 23, 2010 16:52:51 GMT -5
Posts: 459
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Post by Maryland Monroe on May 17, 2019 16:52:06 GMT -5
Had an interview for a new part-time job today and got the job. Same location as the current part-time, though it is much closer to the highway offramp and I won't have to go *into* the mall parking lot. It's also .88/hour more than the current part-time. I'll get quite a few hours in the two weeks before the store opens on June 13th so I'm looking forward to receiving a nice chunk of change next month. Enjoy your weekend, Racers! Congratulations, nidena! What new store is opening? I very rarely go to the mall because of the traffic.
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nidena
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Post by nidena on May 18, 2019 21:31:00 GMT -5
Had an interview for a new part-time job today and got the job. Same location as the current part-time, though it is much closer to the highway offramp and I won't have to go *into* the mall parking lot. It's also .88/hour more than the current part-time. I'll get quite a few hours in the two weeks before the store opens on June 13th so I'm looking forward to receiving a nice chunk of change next month. Enjoy your weekend, Racers! Congratulations, nidena ! What new store is opening? I very rarely go to the mall because of the traffic. Lands' End opens at the Christiana Fashion Center. The slowest days for traffic at the mall are Monday evenings. The Fashion Center is separate from the mall but it's slower on Mondays too.
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Maryland Monroe
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Joined: Dec 23, 2010 16:52:51 GMT -5
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Post by Maryland Monroe on May 19, 2019 16:16:51 GMT -5
Congratulations, nidena ! What new store is opening? I very rarely go to the mall because of the traffic. Lands' End opens at the Christiana Fashion Center. The slowest days for traffic at the mall are Monday evenings. The Fashion Center is separate from the mall but it's slower on Mondays too. Thanks. I know right where that is, but the only time I've gone there was to visit the container store. I'll keep in mind that Mondays are slower. That whole area is congested, but the Fashion Center is easier to get in and out with the light right there.
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nidena
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Post by nidena on May 19, 2019 22:09:43 GMT -5
Lands' End opens at the Christiana Fashion Center. The slowest days for traffic at the mall are Monday evenings. The Fashion Center is separate from the mall but it's slower on Mondays too. Thanks. I know right where that is, but the only time I've gone there was to visit the container store. I'll keep in mind that Mondays are slower. That whole area is congested, but the Fashion Center is easier to get in and out with the light right there. I'll never understand what sort of "brilliance" made them think it was a good idea to put Delaware malls in donuts, with only one or two entrances and exits.
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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 May 22, 2019 5:44:44 GMT -5
Care Credit- $0--Paid off!!! Capital One- $0--Paid OFF!!!! Car Loan- $6,625
imanangel: Phase 1: UPDATE: $6,625 12/31/2018 $13,658.73 WIR 186)
I have paid off $7,033.73 in Phase 1 since restarting my debt race! I am feeling so accomplished today.
I will update Phase 2 after I get out of work. I was just so excited to pay off the Capital One card this morning!!!
ETA: Listed the wrong car loan. Still, a big chunk has been paid off.
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nidena
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Post by nidena on May 22, 2019 7:57:07 GMT -5
Birthday deposit hit the bank account. Just sent another payment to the HVAC. More payments not going out after June 1st, unless I get a WHBM paycheck this week.
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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 May 23, 2019 21:11:38 GMT -5
Phase 2 Debt Race
USAA CC- $14,166.55 Discover CC- $18,644.39 Car Loan 2- $5,372 Ashley Furniture- $1,911
imanangel: Phase 2: $40,093.94($41,151.00 4/20/19 WIR 5782)
For Phase 2, I have paid off $1,057.06. I know that this phase will start moving faster now that I have the 2 cards paid off from phase 1.
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bankergurl
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Joined: Dec 30, 2010 17:05:10 GMT -5
Posts: 1,435
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Post by bankergurl on May 24, 2019 20:57:29 GMT -5
Update to Race #2 and #3! $320.12 paid off in the last 2 weeks!! It's a low update week, only our two lowest payment debts went down. We didn't pay anything extra on Rental #1 Mortgage this time, and after doing that the last few times, it isn't very fun not having that extra boost! We are trying to focus on savings but it's hard for me to not pay extra.
I'm in a wedding next weekend but most costs are covered already, dress, shoes, spray tan and mani/pedi are done. Will still need to pay for my dress alterations, hair and makeup. Staying at my in-laws so won't need to worry about lodging costs.
Softball has started for one of my two teams and I've been hitting and fielding really well. I missed most of last season with my pregnancy so I was worried about being rusty, but it's going good.
Savings is at $15,000, but I haven't put the rummage sale money in there yet, and that will be about $1000.00. We also have rent coming up, and I have a ton of FB Sales that need to get picked up.
Celebrations for this update: -$320.12 paid off in the last 2 weeks!!
Race #1 - Banker Gurl Mortgage (Rental #2)
5/10/19 $143,750.00 (9/17/07 $250,514.73) Paidoff - $106,764.73
Debt | Interest | Start 9/17/07 | Last 4/12/19 | Current 5/10/19 | My Mortgage (Rental #2) | 3.62% | $250,514.73 | $144,100.00 | $143,750.00 |
Race #2 - Bad Debt Race
5/24/19 $36,610.95 (6/19/15 $63,603.84) Paidoff - $26,992.89
Debt | Interest | Start 6/19/15 | Last 5/10/19 | Current 5/24/19 | Student Loan | N/A | $93.97 | $0 | $0 | Payback Savings | 0% | $500.00 | $0 | $0 | David's Bridal | 0% | $275.30 | $0 | $0 | Scheel's Card | 25.24% | $929.90 | $0 | $0 | Total Rewards | 17.99% | $3,955.66 | $0 | $0 | LOC - US Bank | 21.90% | $4,994.05 | $0 | $0 | Ring - Iddeal | 9.99% | $9,334.87 | $0 | $0 | Appliances - Best Buy | 0% | $2,960.09 | $0 | $0 | Store Loan
| 2.00%
| $14,560.82
| $2,893.37
| $2,774.39
| Mom Loan #2 (HELOC) | 2.00% | $0 | $7,836.56 | $7,836.56 | Mom Loan #3 (Truck - Added 9/1/18)
| 2.00%
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$26,000.00
| $26,000.00
| $26,000.00
| Totals |
| $63,603.84 | $36,729.93 | $36,610.95
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*Mom Loan Savings Account has $4750.00 in it so total still owed is $29,086.56.
Race #3 - MO's Mortgage (Rental #1)/HELOC
5/24/19 $79,493.84 (6/19/15 $119,756.61) Paidoff - $40,262.77
Debt | Interest | Start 6/19/15 | Last 5/10/19 | Current 5/24/19 | HELOC | 3.5% | $30,324.70 | $0 | $0 | MO Mortgage (Rental #1) | 4.5% | $89,431.91 | $79,694.98 | $79,493.84 | Totals |
| $119,756.61 | $79,694.98 | $79,493.84 |
Race #4 - Our Mortgage
5/10/19 $239,782.89 (9/2/15 $270,000.00) Paidoff - $30,217.11
Debt | Interest | Start 9/2/15 | Last 4/12/19 | Current 5/10/19 | Our Mortgage | 4.125% | $270,000.00 | $240,200.33 | $239,782.89 |
Yearly Progress
Date | Total Debt | 6/19/15
| $584,391.18
| 1/1/16 | $557,236.94 | 6/1/16 | $536,179.52 | 1/6/17
| $524,971.47
| 6/9/17
| $516,318.28
| 1/5/18
| $504,165.70
| 6/8/18
| $495,101.02
| 12/21/18
| $509,625.02
| 1/4/19
| $508.767.86
| 1/18/19
| $507,697.95
| 2/1/19
| $506,989.70
| 2/15/19
| $505,918.19
| 3/1/19
| $504,998.86
| 3/15/19
| $503,995.75
| 3/29/19
| $503,730.27
| 4/12/19
| $502,303.76
| 4/26/19
| $501,586.82
| 5/10/19
| $499,957.80
| 5/24/19 | $499,637.68 |
*Record for going under the next $1000 mark is 9 updates in a row.
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nikiz628
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Joined: Jun 11, 2013 17:25:59 GMT -5
Posts: 1,447
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Post by nikiz628 on May 27, 2019 14:33:58 GMT -5
UPDATE: Race #2
RACE #2 | INTEREST | ORIGINAL | LAST UPDATE | THIS UPDATE | DIFFERENCE | Auto Loans (2 cars) | 4.23% | $32,991.93 | $18,427.86 | $17,722.11 | $705.75 |
NikiZ628 (2): 5/27/19 $17,722.11 (3/26/18 $32,991.93) Total Paid in 2019: $1,806.99 Total Paid Overall: $15,269.82
I missed updating last month because we left for Disney. That's okay because this month's "difference" column just makes me feel like I made a big dent in it haha. We crossed the $15,000 paid off mark. We are about $1,500 away from having this one half gone. There could be a shake-up on this loan soon though. If you remember, when H purchased a used truck last year, the bank just combined his $8000 loan into our existing SUV loan. He is now considering selling this truck. If that's the case, the bank will separate his current balance from my SUV current balance. (IDK how that works exactly, it's just what the loan officer said when we bought it). He is calling the bank tomorrow to figure it all out so..stay tuned.
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nikiz628
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Post by nikiz628 on May 27, 2019 14:37:10 GMT -5
UPDATE: Race #3 5/27/19
RACE #3 | INTEREST | STARTING BALANCE | LAST UPDATE | THIS UPDATE | DIFFERENCE | Citi Best Buy CC | 0% (18 months) | $1,534.92 | $357.41 | $267.41 | $90.00 |
NikiZ628(3): 5/27/19 $267.41 (3/14/18 $1,534.92, WIRR171)
This promotional 0% expires on 8/22, but I am hoping to have it paid off in the next month. It will be nice to see another 0 in my siggy line!
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steph08
Junior Associate
Joined: Jan 3, 2011 13:06:01 GMT -5
Posts: 5,451
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Post by steph08 on May 29, 2019 12:10:13 GMT -5
UPDATE: steph08 [2] 5/31/2019 $16,758.24 (11/15/2016 $50,382.58 NE139) Bill (Interest Rate) | Start | Previous | Current | Difference | Normal Payoff | Monthly Payment | Big Student Loan (5.08%) | 18,337.66 | 7,413.76 | 5,076.97 | 2,336.79 | November 2022 | $298.59 | Small Student Loan (5.7%) | 4,585.95 | 0.00 | 0.00 | - | November 2022 | $81.81 | Truck (2.49%) | 18,995.89 | 12,078.51 | 11,681.27 | 397.24 | October 2021 | $416.19 | Van (3.6%) | 8,463.08 | 0.00 | 0.00 | - | October 2022 | $154.49 | TOTAL | 50,382.58 | 19,492.27 | 16,758.24 | 2,734.03 | | $951.08 |
Paid this update: $2,734.03 Total Paid: $33,624.34 Percent Paid: 66.74% A good update this time, more than 5% paid off this month! It should have been better, as it was an extra paycheck month, but you know, we wanted to buy a new puppy. Oops!
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nidena
Senior Member
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Post by nidena on May 29, 2019 15:54:27 GMT -5
NOT AN UPDATE
Received my Federal refund today (I filed late but knew they wouldn't have a fit since THEY owed ME money) and made another payment to the HVAC. That'll knock the balance down to just under $2100. In the next 17 days, I will receive enough income to pay it off.
After that, the remaining debts will be:
CC $7,550 11.15% SL A (sub) $2,750 5.05% SL B (unsub) $3,495 5.05% HRV $28,030 4.34%
Mortgage $122,500 3.5% I'm selling the house this summer so this isn't even a factor any more.
My income for June, July, and August will be ~$4000/mo due to military pension, disability, and two (possibly three) part-time jobs. My living expenses cost ~$2000/mo. The SL website is showing payments begin August 2020 but I think that was based upon my enrollment in the Master's program. Whatever the case, payments will begin ASAP to avoid as much interest as possible.
What are your suggestions/thoughts? $1000/mo to CC and $1000/mo to SLs? Minimum to CC and the rest to SLs? Something else?
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chapeau
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Posts: 1,649
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Post by chapeau on May 29, 2019 20:55:28 GMT -5
Just looking at those interest rates, I’d say throw the whole $2000 at the cc. You get 6-months grace before the SL payments start, so you could have the CC gone well before those start.
That said, would you be better off having some cash on hand for moving expenses? I know you have steady income even while you’re moving, but moving isn’t cheap.
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nidena
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Post by nidena on May 30, 2019 7:56:53 GMT -5
Just looking at those interest rates, I’d say throw the whole $2000 at the cc. You get 6-months grace before the SL payments start, so you could have the CC gone well before those start. That said, would you be better off having some cash on hand for moving expenses? I know you have steady income even while you’re moving, but moving isn’t cheap. I have $1100 in a "moving" savings account. It'll cost me $600 for the moving truck plus an overnight of lodging and some meals. It should be plenty. The CC will always be in use but it'd be nice to get it down to a balance that can be paid off each month. On the flip side, it'd be nice to a have a shorter list of debts.
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steph08
Junior Associate
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Post by steph08 on May 30, 2019 9:20:20 GMT -5
Basically, you're paying $70 in interest every month on the CC, $12 in interest every month on SL A, and $14 in interest every month on SL B.
Over the summer, you could basically pay off the student loans if you do $2k/month, but then you're racking up $210 in CC interest by only paying the minimum when, if you had paid $6k on the CC, you would have only racked up $78 in interest on the student loans.
Paying more to the CC makes more financial sense, but I can also appreciate wanting to have fewer loans/bills and basically eliminating the SLs by the end of summer.
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debthaven
Senior Associate
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Post by debthaven on May 30, 2019 15:12:40 GMT -5
I would definitely knock out the CC first nidena . On the YM thread I suggested sending 1K/mo to the CC and saving 1K/mo until you've actually sold your house and arrived at your friends'. Given that you already have 1100 in a "moving savings account", you could probably do 1500/mo to the CC and save 500/mo until you've actually sold your house and arrived. But given the interest rates, and the fact that it's a CC, I'd work on that first.
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Maryland Monroe
Established Member
Joined: Dec 23, 2010 16:52:51 GMT -5
Posts: 459
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Post by Maryland Monroe on May 30, 2019 15:44:22 GMT -5
I would use the snowball method. That's what I did when I had a list to get that list shorter. You have victories that are pretty powerful and motivating.
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Maryland Monroe
Established Member
Joined: Dec 23, 2010 16:52:51 GMT -5
Posts: 459
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Post by Maryland Monroe on May 31, 2019 1:07:14 GMT -5
Update: Maryland_Monroe[2] 5/31/19 $20,800.23 (1/1/14 $93,528.61 NE 113 C127)
Paid: $72,728.38 (77.76%)
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idlechatter
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Post by idlechatter on May 31, 2019 6:55:09 GMT -5
I wanted to wait until the end of the month rather than posting on the 15th so my update could be good. As predicted, I did not get the NJ job I interviewed for because it was just for exposure among senior management. But it did what it was supposed to do. I had another interview for the same job in CT just for exposure and I actually got it! So, pending the offer is reasonable (I should know next week), I'll be moving to Connecticut from NY sometime next month. I don't love where I'm going to have to live, but this is a job that people don't typically get until their mid to late 40s, so that I actually got it in my mid 30s is unheard of. There will also be a compensation bump, a smaller one in salary (hopeful I can negotiate about $30K), but a very large one in bonus, that I'm hoping will work out to about an extra $100K/year between both. I was aiming to have my CC debt paid off by end of May, AND I DID IT!!! I AM CREDIT CARD DEBT FREE!! I only have my car loan (which is not even a concern right now) and student loans, which is what I'm definitely devising a new plan for, but will need to figure out what my new salary looks like. I was initially going to buy a house in the new location, but the location changed and the new new location is not affordable for me right now (if I was buying I was basing my decision on my current salary) and I don't plan to stay there forever. Getting another apartment is a little bit of a disappointment, but I'm focusing on how much money it will save me right now and what I can save and pay off in the next year or two now instead. May Summary• No new debt (CC) • CREDIT CARD DEBT FREE!! • Paid off CC#1b! • Payoff of $1408.13 this month! 2019 Goals• Under $50K by February 2019 update (met February 2019!!!) • Reach 50% paid off by February 2019 (met January 2019!) • Pay off another student loan by Feb 2019. (met February 2019!!!) • Only have student loans and car loan debt by May 2019. (met May 2019!!!) • Reduce SL#B to <$2K by Dec 31 19. • Reduce Auto loan to <$8K by Dec 31 19. idlechatter (2) 4/15/2019 $43,185.66 (12/13/2017 $71,083.09 C165) Debt | Interest Rate | Starting Debt | WIRR Start 12/13/2017 | 5/31/2019 | Difference from WIRR Start | Total Difference | CC#1a | - | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | CC#1b | 0.00% | $4,846.31 | $4,846.31 | $0.00 | -$4,846.31 | -$4,846.31 | CC#2 | 18.92% | $1,592.09 | $1,592.09 | $0.00 | -$1,592.09 | -$1,592.09 | SL#A | 6.80% | $3,024.00 | $640.37 | $0.00 | -$640.37 | -$3,024.00 | SL#B | 6.80% | $8,400.00 | $5,465.90 | $4,376.90 | -$1,089.00 | -$4,023.10 | SL#C | 6.80% | $31,822.91 | $21,424.73 | $17,371.59 | -$4,053.14 | -$14,451.32 | SL#D | 6.80% | $8,400.00 | $5,596.11 | $4,364.02 | -$1,232.09 | -$4,035.98 | SL#E | 6.80% | $11,370.48 | $8,723.05 | $6,920.19 | -$1,802.86 | -$4,450.29 | SL#6 | 6.55% | $6,581.00 | $2,926.35 | $0.00 | -$2,926.35 | -$6,581.00 | Auto | 1.90% | $19,036.80 | $15,864.00 | $10,152.96 | -$5,711.04 | -$8,883.84 | Moto | 7.99% | $4,384.14 | $4,004.18 | $0.00 | -$4,004.18 | -$4,384.14 | Total | | $99,457.73 | $71,083.09 | $43,185.66 | -$27,897.43 | -$56,272.07 |
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nidena
Senior Member
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Posts: 3,582
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Post by nidena on May 31, 2019 8:21:29 GMT -5
I've decided to go with the avalanche method for paying down the three debts, as well as put a portion towards building up my EF: 2/3 / 1/3, respectively.
I was laying in bed last night thinking about getting the house prepped and packing everything up and got a little panicked. I need to find a storage place in Indy--asked friends to ask around but haven't heard anything on that front--so that I can drop off the majority of my stuff in Indy. Family will be coming out when the moving day comes to drive the Uhaul and I'll be driving my car. Then, in Indy, we drop off the stuff to storage, drop off the Uhaul, and then three people (including me) and two cats will be in my car. I have a feeling that I'll be mailing a few boxes ahead of me to my friend's place in Iowa. Mostly just clothes since I won't need anything while I'm there. All my furniture (the little bit that I'm taking) will be in Indy.
Once I'm in Iowa, I'm hoping to be at the house rarely enough that I don't impose too much on the family's schedules and what-not. Thankfully, they live in a very big house and everyone is super busy so one more person will hardly be noticed. I plan to transfer my position at WHBM to a local store and work there one or two days a week. Plus, I plan to pursue getting my foot in the door at a Hilton-brand hotel so that I can transition out of clothing retail and into experience retail. While I'm in Iowa, there'll be many trips to Indy to find myself an apartment: once or twice a month for three or four days at a time when the weather doesn't make the interstates undriveable.
At any rate, the last payment to the HVAC is scheduled for Wednesday.
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debthaven
Senior Associate
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Post by debthaven on May 31, 2019 14:56:25 GMT -5
Congrats on the last HVAC payment nidena ! imanangel great progress! But I was looking at your numbers, and wondering ... are you ACTIVELY trying to pay off the car loans right now? If not, I'd restructure, make Phase 1 those 2 CCs (but not the car) and make Phase 2 those CCs (but not the second car). I'd probably leave the cars for last, since I'm GUESSING you're not ACTIVELY racing them (but I could be wrong of course).
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,041
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Post by Rukh O'Rorke on Jun 1, 2019 14:28:38 GMT -5
May I join in the racing? I super hope I am ready to pay down and not accrue any more debt!!
Just getting the student loan information together, I have some other debt I may include at another point, but not sure what is up with that, I'm waiting to hear on how the IRS is handling my owed taxes and my refund from 2017 (that I filed this April) I am also going to an accountant to get a second opinion on turbotax. So - that is all fluxy right now. Need to start paying on the parent plus loans in July.
Rukh: 6/1/19 $118,626.28
Today Interest Rate Nov. 2018 Difference
Masters $2,096.44 3.75% $2,406.16 $309.72
Masters $343.08 3.75% $393.77 $50.69
Phd $21,576.29 5.59% $22,473.99 $897.70
Phd $23,107.35 5.96% $24,047.70 $940.35
Plus $18,034.89 6.31% $17,511.78 $(523.11)
Plus $12,354.84 6.84% $11,989.68 $(365.16)
Plus $6,575.57 7.00% $6,351.32 $(224.25)
Plus $4,865.26 7.00% $4,697.08 $(168.18)
Plus $21,442.59 7.21% $21,790.09 $347.50
Phd $8,229.97 7.62% $11,469.44 $3,239.47
Total $118,626.28 $123,131.01 $4,504.73
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,041
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Post by Rukh O'Rorke on Jun 1, 2019 14:41:33 GMT -5
so - I've only been paying a little extra on the higher interest rates. I did make one 3k payment, one 500 payment, and maybe 2 100 payments since November. I will look into refi options, but want to get the IRS thing settled first.
Most of the plus loans have increased as they have not been in repayment yet, that will start July - so even if I just keep up with the minimums per month, it will start to go down, so that is a relief! In November I realized even though I've been paying and paying on some of them - the others were accruing more interest than principal paid on the others, so started making some extra payments there.
I've set my payments to put about 30 extra to the highest interest rate, set my 401k at work at just 10%, and won't do anything until I at least have clarity on the IRS situation, and perhaps just hold steady until that is paid off.
My current "guestimate" is that I owe the IRS about 4k. So - it is not too terrible, but who knows what they might tell me (fees! penalties! interest! etc.).
So - there it is.
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