chiver78
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Post by chiver78 on Jul 10, 2019 18:13:45 GMT -5
baby steps, and yes, every little bit helps! I 😁
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debthaven
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Post by debthaven on Jul 11, 2019 15:22:11 GMT -5
chiver78 you know I adore you but wow, that really is a lot. I know you earn a very good salary. But I would REALLY encourage you to put every cent you can (including all of the rent) towards debt. You haven't posted any interest rates so it's hard to give you advice (and TBH I'm guessing you don't really want any). I'm not a fan of Dave Ramsey but it looks like you really do need to get "gazelle intense" for a while. All the best to you, as always. nidena great plan for the roommate! You've made great progress, hopefully this will help. The more you stay the course, the freer you'll be when you move.
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chiver78
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Post by chiver78 on Jul 11, 2019 16:58:08 GMT -5
debthaven , I hear you. that is the plan, and that's what I've been doing now that the dust has settled on the bank nightmare. I'm spending as little as possible, and now thankfully taking in some rent. the rent is actually going straight to the Discover card that is being used to book the dog walker online. roommate is on vacation next week. so he's got pup duty all week while he is home doing projects. I did allow myself a little fun money to be used in 2wks when AZ is here for a few days. I'll eat PBJ for a month to be able to show him a good time in my home town. 😎🤣 I am cranking on the first card, and then once that balance is gone I intend to combine some of the smaller ones into a promotional rate on that Citi. then I can focus on one of the bigger numbers/interest rates. I don't know all the rates off hand, I can tell you that the smaller BofA balance is the next to reset, next month, to 18 ot 19%. that is the next target after Citi. i did post interest rates initially when I restarted my race with the new starting balance. I used the columns in the table now showing progress and current balance for the rate and how long any promotional rates are valid. so maybe Feb? I think that's my tagline now. none are really awful past the Citi and soon to be BofA. so I think I'll be okay now that the ball is rolling again. ETA: I went back and found the post from Feb. here's that table with the rates, debthaven and anyone else that was interested. oh, and I just confirmed, that other BofA rate will reset to 20.24% after next statement....not 19.99%. that is definitely the next target to go. 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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debthaven
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Post by debthaven on Jul 11, 2019 17:03:46 GMT -5
I'm just happy that you're conscious of it. Have fun with AZ! This said, anyone else who stays with you ... it's for THEM to take YOU out.
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chiver78
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Post by chiver78 on Jul 11, 2019 18:00:12 GMT -5
I'm just happy that you're conscious of it. Have fun with AZ! This said, anyone else who stays with you ... it's for THEM to take YOU out. ha. I let them do that once while they are here. we usually spend most days at the beach anyway. that's easy - coolers and snacks/sandwiches. so far, the first M has the winner tab - $75 for my ferry ride to Nantucket. hey, that was her idea, to pick up the tab, too. as far as AZ, I know he's not going to let me pay for everything, but we are going to do whatever we feel like doing any given day and I don't want to worry about picking up my half. and, have I mentioned that I can't wait?! and yes, acutely conscious of it all. I'm probably not going to put the full spreadsheet up each time I update, for a little while at least. I'll include it when big stuff happens, like paying off the Citi and combining some other stuff back onto it. but for the most part, I'll just tagline with some text. my updates always turn into novels, I feel like I hog the thread sometimes. lol....
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nidena
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Post by nidena on Jul 12, 2019 8:29:38 GMT -5
Incurred a one-time expense for my bra fit workshop that I'm doing a test run of on Tuesday. I'm aiming to do a few more before I move but I need to determine how much to charge for 1-2 hours of providing knowledge. I may also need to make the workshops officially official so that I *can* charge. Ugh! Anyone ever charge for knowledge and education workshops?
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jul 12, 2019 12:14:49 GMT -5
chiver78 you know I adore you but wow, that really is a lot. I know you earn a very good salary. But I would REALLY encourage you to put every cent you can (including all of the rent) towards debt. You haven't posted any interest rates so it's hard to give you advice (and TBH I'm guessing you don't really want any). I'm not a fan of Dave Ramsey but it looks like you really do need to get "gazelle intense" for a while. All the best to you, as always. nidena great plan for the roommate! You've made great progress, hopefully this will help. The more you stay the course, the freer you'll be when you move. I had to google this up www.daveramsey.com/askdave/debt/what-is-gazelle-intensity
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jul 12, 2019 12:18:32 GMT -5
I'm just happy that you're conscious of it. Have fun with AZ! This said, anyone else who stays with you ... it's for THEM to take YOU out. Yep! If they staying with you free? They treat at the pub!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jul 12, 2019 12:28:23 GMT -5
I have to share a little win with y'all! I've been really focusing on the food budget to free up money for debt payments. so the jewel stores (now part of albertson) have this mymixx coupon thing going on. I didn't join for months because I can't download apps on my phone (need to go to apple store and reset my email and password - no clue what the email linked to my phone is). can joing on computer but always forgot/remembered while in line. D'oh! Finally joined up. You can put coupons into your que, then put your phone number at checkout and the coupons work. Been saving about $5-10 per grocery trip since. But there was more! you earn reward and I just checked them out. I got 12 pack of toilet paper for free! plus a free watermelon! also had some paper coupons from manufacturer and got 3 free cans of catfood. I do hate these games that grocery stores and manufacturers make us play for small bits of money - but oh well!
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nidena
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Post by nidena on Jul 13, 2019 8:20:34 GMT -5
Thought to ponder: Does anyone experience a "need to see what they have on sale" reaction when they see a certain store name? Could be Macy's. Could be Walgreens. Could be any store that is likely a favorite. I noticed this just now as I was scrolling my CC transaction list. I saw the name and thought that very thing. It was so abrupt that it jarred me into noticing. 20 years ago, it used to be Target but I hardly go into Target any more. Probably because I realized I would get sucked into their excellent marketing and store layout shenanigans. This was an online only store which makes it seem more stealthy because it's not an inconvenience to just pop in the website whereas going to Target required effort and that made it easier to not do.
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nidena
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Post by nidena on Jul 13, 2019 8:23:35 GMT -5
In other news, my last CC purchase--aside from the items for my workshop--was Jul 1st. Other than meals when working--our fridge at work is super tiny and my lunch pail freezer blocks don't stay cold very long--and Wawa reloads, I'm aiming for no additional purchases on it. Checking account payments only.
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taz157
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Post by taz157 on Jul 13, 2019 10:04:14 GMT -5
Thought to ponder:Does anyone experience a "need to see what they have on sale" reaction when they see a certain store name? Could be Macy's. Could be Walgreens. Could be any store that is likely a favorite. I noticed this just now as I was scrolling my CC transaction list. I saw the name and thought that very thing. It was so abrupt that it jarred me into noticing. 20 years ago, it used to be Target but I hardly go into Target any more. Probably because I realized I would get sucked into their excellent marketing and store layout shenanigans. This was an online only store which makes it seem more stealthy because it's not an inconvenience to just pop in the website whereas going to Target required effort and that made it easier to not do. Yes, I do have that “need to see what they have on sale”. That happens with me in regards to Kohl’s and Target. With Target, I also use my Red Card to save 5% too. I’ve done well in staying out of Kohl’s but I do have my moments with Target.
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debthaven
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Post by debthaven on Jul 13, 2019 18:00:27 GMT -5
Rukh O'Rorke I've been doing something similar here. I get a monthly bunch of coupons in the mail (regular mail) from our local supermarket. It's not the cheapest, but it's the two closest ones. I always intend to use the coupons but we rarely do big shops now that the kids are basically gone (although DS3 is home for the summer as of today). We rarely plan those trips now. I finally started putting those coupons in my handbag as soon as I get them. So now I use them! I don't save as much as you, but I do save 3-5 euros per trip. I was angry at myself when I realized I could have been doing this for the past 6-9 months (since they started sending those coupons snail mail). I've been good about it since. Putting those coupons in my bag ASAP has made all the difference. Before I'd think of them only when I was at the checkout, and I could never be bothered to drive 20-25m round trip to pick them up and go back to the supermarket. Good for you!
Like the Tesco ad in the UK says, "every little helps".
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ners
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Post by ners on Jul 16, 2019 6:18:37 GMT -5
Update Race 1
72,179.46 (1/3/2011 $97,382.42 MPT5)
237.19 paid this month.
Due to change in amount of income and unknown amount of dental work paying the minimum amounts for the foreseeable future.
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nidena
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Post by nidena on Jul 16, 2019 9:28:53 GMT -5
I'm off to the Post Office to drop off the things I sold on ebay and then to Style Encore to sell the things I purged from the closet.
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nidena
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Post by nidena on Jul 16, 2019 14:47:34 GMT -5
I'm off to the Post Office to drop off the things I sold on ebay and then to Style Encore to sell the things I purged from the closet. The ebay sales totaled $38. Two items were bought using the Buy It Now function. A third item has an auction that ends tomorrow afternoon. All told, it'll be another $40ish.
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nikiz628
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Post by nikiz628 on Jul 18, 2019 22:52:22 GMT -5
We sold H’s old truck tonight- cash! The buyer offered $1000 less than we were asking, but it’s still $1200ish more than we owe on it so I’ll call that a win! H is going to the bank to pay it off tomorrow, so I hope to have an update on my Race 2, which is our two vehicles combined in one loan. 🎉
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nikiz628
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Post by nikiz628 on Jul 19, 2019 14:13:50 GMT -5
We sold H’s old truck tonight- cash! The buyer offered $1000 less than we were asking, but it’s still $1200ish more than we owe on it so I’ll call that a win! H is going to the bank to pay it off tomorrow, so I hope to have an update on my Race 2, which is our two vehicles combined in one loan. 🎉 After H called the bank, the loan officer told him the payoff amount he was quoted was not correct. Instead of owing $4200 on it, he only owed $3585! So he profited $2000 on the sale! Yay for an error in our favor!
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debthaven
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Post by debthaven on Jul 19, 2019 14:51:29 GMT -5
That's such great news nikiz628 ! Can't wait to see your update!
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nikiz628
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Post by nikiz628 on Jul 21, 2019 22:47:54 GMT -5
Update Race #2Race #2 | INTEREST | ORIGINAL | LAST UPDATE | THIS UPDATE | DIFFERENCE | Auto Loan (SUV) | 4.23% | $32,991.93 | $17,375.91 | $13,790.73 | $3,585.18 |
NikiZ628 (2): 7/21/19 $13,790.73 (3/26/18 $32,991.93) Total Paid in 2019: $5,738.37 Total Paid Overall: $19,201.20Big dent this update thanks to selling H's truck that was tied into this loan! We have the option to go in an "refi" this one to lower the payment back down to what it was originally (reduces it $90 a month). I am debating if I want to do this or just leave it and throw that extra $90 to the balance each payment. I need to see how our budget plays out with H's new job/salary before I will have a better idea on feasibility. Regardless, celebrating this loan's decrease!
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Minnesotagirl7
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Post by Minnesotagirl7 on Jul 22, 2019 8:37:57 GMT -5
We moved into our new house ~5 weeks ago. We were able to pay cash for everything, which was the plan. But dang, I forgot how expensive moving is! The kids have adjusted pretty well, which we're thankful for. The new house is good, and my commute is amazing. I still miss our old house, and it will be tough to say goodbye. It went on the market and we had an offer within a couple weeks. We close in about a month. We will clear a nice amount from the sale, which we will use to make improvements to the new house (hello, new master bathroom!!).
I'm debating starting a new race. It would only be our mortgage, and I wouldn't really be "racing" it. But then I had a thought: We got a 15 year mortgage, and wouldn't it be fun to pay it off in 10 years instead...
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nidena
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Post by nidena on Jul 22, 2019 10:25:01 GMT -5
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bankergurl
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Post by bankergurl on Jul 22, 2019 16:50:11 GMT -5
Thought to ponder:Does anyone experience a "need to see what they have on sale" reaction when they see a certain store name? Could be Macy's. Could be Walgreens. Could be any store that is likely a favorite. I noticed this just now as I was scrolling my CC transaction list. I saw the name and thought that very thing. It was so abrupt that it jarred me into noticing. 20 years ago, it used to be Target but I hardly go into Target any more. Probably because I realized I would get sucked into their excellent marketing and store layout shenanigans. This was an online only store which makes it seem more stealthy because it's not an inconvenience to just pop in the website whereas going to Target required effort and that made it easier to not do.
With being a reseller I am constantly looking at clearance/sales at every store I go to and every site I visit....but never for stuff for me. I hate how much "stuff" I already have and have been trying to get away from getting "stuff" for presents too...for my BD I asked my husband for a garbage disposal or new kitchen light fixture...lol.
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bankergurl
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Post by bankergurl on Jul 22, 2019 17:28:10 GMT -5
Update to Race #1, #2 #3 and #4! $1154.22 paid off in the last 2 weeks!! Nice update with payments on everything except the Mom Loan!
We have a new renter going into Rental #2 and everything went very smoothly with the last one moving out which is a relief. We also got all of the apartments that we property manage rented as of 8/1 which is great! Hopefully things can calm down for awhile now on the rentals front.
Savings is at $17,700.00, BUT we need to take some out for a new puppy we are getting in a few weeks (#3! ) and other bills that came up, will probably go down $2K-$3K. I also got my 401K Statement in the mail today and I am at $83K! I also have $10K in an IRA that I haven't contributed to in about 5 years. Happy with where I am at retirement wise for 35 y/o and will keep plugging away at that.
Celebrations for this update: -$1154.22 paid off in the last 2 weeks!! -Rental #1 Mortgage went under the next $1000 mark!! -Our Mortgage went under the next $1000 mark!! -Total Debt went under the next $1000 mark for the 4th update in a row!!
Race #1 - Banker Gurl Mortgage (Rental #2)
7/19/19 $143,000.00 (9/17/07 $250,514.73) Paidoff - $107,514.73
Debt | Interest | Start 9/17/07 | Last 6/21/19 | Current 7/19/19 | My Mortgage (Rental #2) | 3.62% | $250,514.73 | $143,400.00 | $143,000.00 |
Race #2 - Bad Debt Race
7/5/19 $35,165.35 (6/19/15 $63,603.84) Paidoff - $28,438.49
Debt | Interest | Start 6/19/15 | Last 7/5/19 | Current 7/19/19 | 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
| $2,416.91
| $2,297.57
| Mom Loan #2 (HELOC) | 2.00% | $0 | $6748.44 | $6,748.44 | 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 | $35,165.35 | $35,046.01
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*Mom Loan Savings Account has $2160.00 in it so total still owed is $30,588.44.
Race #3 - MO's Mortgage (Rental #1)/HELOC
7/19/19 $78,829.28 (6/19/15 $119,756.61) Paidoff - $40,927.33
Debt | Interest | Start 6/19/15 | Last 7/5/19 | Current 7/19/19 | HELOC | 3.5% | $30,324.70 | $0 | $0 | MO Mortgage (Rental #1) | 4.5% | $89,431.91 | $79,043.84 | $78,829.28 | Totals |
| $119,756.61 | $79,043.84 | $78,829.28 |
Race #4 - Our Mortgage
7/19/19 $238,943.69 (9/2/15 $270,000.00) Paidoff - $31,056.31
Debt | Interest | Start 9/2/15 | Last 6/21/19 | Current 7/19/19 | Our Mortgage | 4.125% | $270,000.00 | $239,364.01 | $238,943.69 |
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 | 6/7/19
| $498,975.00
| 6/21/19
| $497,886.96
| 7/5/19
| $496,973.20
| 7/19/19
| $495,818.98
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*Record for going under the next $1000 mark is 9 updates in a row.
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nidena
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Post by nidena on Jul 24, 2019 9:02:26 GMT -5
Definitely some celebration for me.
In June, I spent nearly $1000 on clothes and nearly $450 on dining out with my CC and $88 on dining out with Checking account funds. The dining out was offset by spending only $50 in groceries but that's still a total of nearly $600 spent on food. For one person.
In July, to date, I have spent $17 on clothes. I had $80 in returns. Plus, I took a bunch to Style Encore and sold items on ebay which netted me cash in my pocket and many fewer items in my closet. Dining out is at $180 on the CC and $25 with Cking funds and groceries is at $196. All groceries are bought via Checking account funds. I don't anticipate matching the amount for money spent on food but it could happen. Realistically, I may spend another $50 on dining out since I work the next four days but it will all come from the Checking account because the CC isn't in my wallet.
I just keep telling myself: The less I have, the less I have to move.
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nikiz628
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Post by nikiz628 on Jul 24, 2019 15:12:31 GMT -5
nidena- Great mantra to keep you focused!
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steph08
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Post by steph08 on Jul 25, 2019 8:45:37 GMT -5
UPDATE: steph08 [2] 7/25/2019 $10,888.39 (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 | 1,679.77 | - | 1,679.77 | 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 | 11,294.56 | 10,888.39 | 406.17 | October 2021 | $416.19 | Van (3.6%) | 8,463.08 | 0.00 | 0.00 | - | October 2022 | $154.49 | TOTAL | 50,382.58 | 12,974.33 | 10,888.39 | 2,085.94 | | $951.08 |
Paid this update: $2,085.94 Total Paid: $39,494.19 Percent Paid: 78.39% Student loan is going, going, gone! Woohoo! Now I will just turtle along for another 2 years on the truck, or maybe throw an extra $80-100 at it a month to knock off a few months. But I'm not that worried about it.
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chicg
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Post by chicg on Jul 25, 2019 14:41:42 GMT -5
Rukh - I'm also in chicago and yes taxes are absurd here. You make significantly more than I do though, I don't think a big salary increase would solve all my financial issues but some breathing room would be so nice!
Nidena - I don't need to see what's on sale in certain stores but I learned to avoid Target and Trader Joe's when I was almost "gazelle intense" with my budget and debt paydown, and it was really a great lesson because even though that was 10 years ago, I never got into the TJs cult or $200 Target trips.
Chiver - For what it's worth, when I first started on these boards YEARS ago, my cc debt was more than my income (almost $38K I believe, and I was making $35K). I realize the totals are lower than yours but relative to my debt being higher than my salary and everyone telling me to declare bankruptcy, I can kind of relate to your situation. Back then it was the years of Suze Orman, Dave Ramsey, the MSN Money group here...much of my social time was consumed with immersing myself in debt management learning. I made a tough-but-doable budget and stuck to it, tracking my budget/spending on Friday nights watching Suze and posting here instead of going out. The accountability and tough love back then made me question EVERY purchase, it really helped. My point is I think you can do it. You really just need to catch one big break to start the snowball method and once that takes off, it really seems to "snowball" from there. My break was paying off my car, and around the same time getting a new job with a 15-20% raise. Granted I was still earning under $50K, but I stuck to my budget, applied the raise and former car payment to my debt snowball, and then was able to start working the balance transfers, etc. It was the basics that worked for me...tracking, budget, and not increasing my expenses (I drove that car for 16 years until it almost died last year and I didn't replace it! *yet). I allowed 10% of my cc monthly payment amount to be used for fun/entertainment, I can't do "gazelle intense" but I did realize I had to say no more than I wanted and evaluate what things would cost and where in the budget that money would come from before I said yes. Anyhow, I think you can do this, evaluate your budget and incidental spending, and keep posting here. If you run into problems don't be too proud to look into bankruptcy, but I think you can do it.
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chicg
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Post by chicg on Jul 25, 2019 15:09:05 GMT -5
UPDATE Chicg [2] - 7/25/19, $9,496 (11/7/14, 4217.34 MPT266)
Discover $9,496 ($500 less than last month)
Not a great update but my cat that apparently will live forever incurred another $550 vet bill last week. He has an ear infection, and a follow up Monday. I'll cash-flow the follow up (estimate $200) but I had to borrow last week's bill from savings and cat-savings is getting thin. But my old man is still holding on, I guess what I'm paying in vet bills I'm saving on vacation funds?
Not much else going on. I'm looking into master's programs but all the financials are freaking me out. I couldn't afford it if I don't get some type of scholarship or grant. We have an employer reimbursement program but they pay a total dollar amount per year, but it's only a small portion of the tuition and it's reimbursed based on grades so it's not a guarantee and I'd have to take loans out. I'm willing to take on a bit of loans myself but not the full amount. Still need more info on all that.
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nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,580
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Post by nidena on Jul 26, 2019 8:54:39 GMT -5
UPDATE Chicg [2] - 7/25/19, $9,496 (11/7/14, 4217.34 MPT266) Discover $9,496 ($500 less than last month) Not a great update but my cat that apparently will live forever incurred another $550 vet bill last week. He has an ear infection, and a follow up Monday. I'll cash-flow the follow up (estimate $200) but I had to borrow last week's bill from savings and cat-savings is getting thin. But my old man is still holding on, I guess what I'm paying in vet bills I'm saving on vacation funds? Not much else going on. I'm looking into master's programs but all the financials are freaking me out. I couldn't afford it if I don't get some type of scholarship or grant. We have an employer reimbursement program but they pay a total dollar amount per year, but it's only a small portion of the tuition and it's reimbursed based on grades so it's not a guarantee and I'd have to take loans out. I'm willing to take on a bit of loans myself but not the full amount. Still need more info on all that. Could you Grad Assist at the school you plan to attend? I knew a number of folks who worked full time, attended their one or two classes each week, and then worked the other three or four days on campus.
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