nidena
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Post by nidena on Oct 20, 2019 20:50:18 GMT -5
Once the Pending transactions clear, I'll be able to see how much I've put on the CC for the carpet and this most recent aspect of the move. The next phase of the move should cost far less since I won't have to rent any vehicles and probably won't stay in any hotels. I'll see if there's a Hampton Inn that'll let me but it's doubtful. I'm really glad I worked a ton of hours at the store this past pay period. My paycheck was nearly $500. That'll definitely help me offset some of the costs incurred in the past seven days.
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snapdragon
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Post by snapdragon on Oct 21, 2019 12:52:58 GMT -5
chiver78 - I am sending you support from away. I know and remember some of how things got messed up with the roommate. You were attempting to help someone who basically wanted a free ride and someone to blame when things did not go their way. Basically you have set yourself on fire to keep someone else warm and that is just not sustainable. After having my mom live with me for a few years before she moved I can remember vividly holing up in my bedroom because she had taken over the entire condo and I had no place that I could decompress and just BE. I believe that you are in that spot right now. Yes, money is a part of the this whole fiasco but feelings and friendship and guilt are also playing a part. Take the cruise and enjoy the hell out of it. You have several people in your corner from the cruising so casually use them as a distraction or sounding board. The issues are not going to magically disappear while you are gone so deal when you get back.
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chiver78
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Post by chiver78 on Oct 21, 2019 19:25:36 GMT -5
chiver78 - I am sending you support from away. I know and remember some of how things got messed up with the roommate. You were attempting to help someone who basically wanted a free ride and someone to blame when things did not go their way. Basically you have set yourself on fire to keep someone else warm and that is just not sustainable. After having my mom live with me for a few years before she moved I can remember vividly holing up in my bedroom because she had taken over the entire condo and I had no place that I could decompress and just BE. I believe that you are in that spot right now. Yes, money is a part of the this whole fiasco but feelings and friendship and guilt are also playing a part. Take the cruise and enjoy the hell out of it. You have several people in your corner from the cruising so casually use them as a distraction or sounding board. The issues are not going to magically disappear while you are gone so deal when you get back. thank you for this. ❤ I saw this post as I was packing up to leave work and was starting to tear up a little. setting myself on fire to keep someone else warm is a perfect analogy, because that's exactly what it was. I'm sorry you felt that way with your mom, I don't wish this on anyone. I actually had the guy in the office at the apartments I toured laughing. he asked if I was looking at 1BR, 2, what size and layout. I was like 1BR. there is nobody in this state I want to live with right now after what I will be leaving behind me.
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nidena
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Post by nidena on Oct 22, 2019 8:13:17 GMT -5
chiver78 - I am sending you support from away. I know and remember some of how things got messed up with the roommate. You were attempting to help someone who basically wanted a free ride and someone to blame when things did not go their way. Basically you have set yourself on fire to keep someone else warm and that is just not sustainable. After having my mom live with me for a few years before she moved I can remember vividly holing up in my bedroom because she had taken over the entire condo and I had no place that I could decompress and just BE. I believe that you are in that spot right now. Yes, money is a part of the this whole fiasco but feelings and friendship and guilt are also playing a part. Take the cruise and enjoy the hell out of it. You have several people in your corner from the cruising so casually use them as a distraction or sounding board. The issues are not going to magically disappear while you are gone so deal when you get back. thank you for this. ❤ I saw this post as I was packing up to leave work and was starting to tear up a little. setting myself on fire to keep someone else warm is a perfect analogy, because that's exactly what it was. I'm sorry you felt that way with your mom, I don't wish this on anyone. I actually had the guy in the office at the apartments I toured laughing. he asked if I was looking at 1BR, 2, what size and layout. I was like 1BR. there is nobody in this state I want to live with right now after what I will be leaving behind me. Your statement made me think of my own reasoning for wanting a smaller house when I buy the next one. I've owned two houses and, in each, I rarely have guests. I've had sporadic time frames of roommates but they were less than 20% of the 20 years that I've owned houses. That being said, my reasoning is: Why do I need a second bed in the house when those who actually are my overnight guests are usually staying in my room.
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nidena
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Post by nidena on Oct 22, 2019 8:42:50 GMT -5
I made a large payment yesterday just so that the balance is smaller for the upcoming statement. It got above $14,000 in the past week with the $2100 spent on carpet and $1200 spent on the most recent phase in moving. The payment negated most of the moving expenses. The monthly housing expenses will drop a bit once I'm out of the house which I'm thankful for. It won't be anything huge but every little bit helps. My internet ends on the 12th--didn't want to deal with a prorated refund of my $29.99/monthly cost. And with nobody here, there'll be no lights on, nobody doing laundry, and the heater will be "set and forget" at 63*.
I still need to put in my change of address but I'll deal with that in a few days, once I get settled in the new state.
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Maryland Monroe
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Post by Maryland Monroe on Oct 22, 2019 8:47:35 GMT -5
nidena, do you plan to buy a house after you get settled?
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nidena
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Post by nidena on Oct 22, 2019 8:58:22 GMT -5
nidena , do you plan to buy a house after you get settled? I plan to get one next year in Indiana. I'll be house shopping, there, while I'm in Iowa. Buying the house will determine when I leave IA.
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nidena
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Post by nidena on Oct 22, 2019 9:42:37 GMT -5
Unplugging the computer now. Habitat for Humanity ReStore is coming for my unmoved furniture this afternoon and the computer desk is one of them. See ya in a week or so.
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Minnesotagirl7
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Post by Minnesotagirl7 on Oct 22, 2019 10:28:07 GMT -5
Shoutouts!
Paynointerest- Hooray, getting closet and closer!
Nikiz628- Great update! Think you’ll hit your first $1000 paid with you next update!
Nooccar- Did the refi get wrapped up?
Ners- Slow & steady, that’s the way to do it!
Rukh- Fantastic update! Good for you for already looking ahead to 2020 goals!
Livinitup- Wow, nice numbers! How are things?
Shanendoah- Can’t wait to celebrate your win!
Chicg- So sorry about your kitty.
Sealy- Awesome news!
Chiver- Enjoy the cruise, and I hope you come back recharged & ready to tackle the challenges ahead. You’ve got this.
Banker Gurl- Wow, awesome progress! Glad the MN casinos were so kind to you and MO. And hugs.
Nidena- Safe travels. Hope the trip to the Midwest treats you well!
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Minnesotagirl7
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Post by Minnesotagirl7 on Oct 22, 2019 10:29:32 GMT -5
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Minnesotagirl7
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Post by Minnesotagirl7 on Oct 22, 2019 10:33:47 GMT -5
I'm anxious to start my next race (our mortgage), but then it hit me that March isn't all that far away anymore. Where did the year go?! We've paid a little extra towards the mortgage already, but not much. We'll probably make a lump sum payment near the end of the year. We need to figure out how much a couple home improvements are going to cost first. I've already started looking ahead to my goals for next year. Our little ones are doing well; our daughter is close to walking, and her big brother is quite the character.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Oct 24, 2019 7:43:18 GMT -5
Rukh O'Rorke , I suggest a spreadsheet where you list everything you have to pay. Place them in order of due date so you can track what you have to pay with each check, and if the check won't cover everything due before the next check, you'll know how much you have to save from the previous cycle to cover it all. Don't forget about things you only have to pay quarterly, semi-annually, and annually (divide by the appropriate number) and start a sinking fund so you'll have the money when they're due. My categories are car insurance, water/sewer bill, homeowner's insurance, vacation, car registration, etc. Wanted to get back with you all about this. I've been working and tweaking with these ideas, and they finally just came together and it's working wonderfully! Maybe do a little more tweaking with formatting, color so I can see immediately what is done vs what is future - but I can now easily project out months in advance what I need money for. And yes - once you nail it down, it's pretty simple! So big Duh! for me And - I was already kind of doing this on a rolling basis - whenever money was short or money was plentiful and I wanted to put it towards debt but wasn't sure if I could, I'd work it out on paper or excel as a temporary thing - inventorying last month or two, projecting out next month or two - and then just scrap it once I got the info I needed for that moment..so double Duh! I have everything projected out to the end of January and it is as clear as a bell! I can input any decision (extra to saving or debt payments, change in paycheck amount, extra money from a side project) and I can see how that affects things months down the road. Wow!!! Thank you to all who shared your strategies and ideas here! I feel so much in control of things. I can now be a little more aggressive with putting money into savings or debt payments, because I feel I will be able to anticipate any needs well in advance, and don't feel like something unexpected could hit the account and derail me. I know somethings won't be as expected, but I will continue to modify my estimates and monthly template, and will get better.
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nikiz628
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Post by nikiz628 on Oct 24, 2019 21:28:59 GMT -5
Update Race #2 10/24/2019Race #2 | INTEREST | ORIGINAL | LAST UPDATE | THIS UPDATE | DIFFERENCE | Auto Loan (SUV) | 4.00% | $32,991.93 | $13,085.20 | $12,703.91 | $381.29 |
NikiZ628 (2): 10/24/19 $12,703.91 (3/26/18 $32,991.93)
Total Paid in 2019: $6,825.19 Total Paid Overall: $20,288.02 With this payment, I dropped under the next thousand AND crossed the $20,000 paid off mark!!!!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Oct 25, 2019 5:22:55 GMT -5
Go Nikiz!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Oct 26, 2019 11:05:31 GMT -5
UPDATE!
Rukh O'Rorke 10/26/2019 $115,221.31 (10/08/2019 $116,716.00)debt | June 1 | June 29 | August 6 | September 6 | October 8 | October 26 | difference | IRS | - | $6,384.25 | $4,427.14 | $1,925.94 | $837.50
| ~~~0.00~~~ | $837.50
| Personal Loan | - | $1880 | $1960 | $1518.15 | $1,538.15
| $873.11
| $665.04
| CC1 |
| . | - | . | . | . | . | CC2 |
| . | - | . | . | . | . | SL Private | $8,253.95
| $8,229.97
| $8,138.02 | $7,844.81
| $7,542.27
| $7,223.38
| $318.89
| SL Fed | $110,027.95
| $110,396.31 | $108,319.69 | $107,570.12
| $106,798.08
| $107,124.82
| $(326.74)
| Total | - | $126,041.86 | $122,844.85
| $118,859.02
| $116,716.00
| $115,221.31
| $1,494.69
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2019 Goals
October: Pay at least 500 to IRS, 250 personal loan
November: Pay off IRS
- December: Pay off Personal loan
2020 Goals
- January: Pay off any CC balances (I may be transferring IRS/PL balances onto cc temporarily)
- February:
- March:
- April:
- May:
- June:
- July:
- August:
- September:
- October:
- November:
- December: Pay off Private Student Loan/Be under 6 figures overall
Posting a mid-cycle update just to get my debts in order for my first entry into the networth thread. I was weighing between waiting for the next big student loan payment to go through as I hate to see that balance increasing with the interest daily through the month between payments .... But paying off the IRS is a significant step, so there's that! See you all on the networth thread!!!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Oct 27, 2019 8:01:53 GMT -5
well - I knew my steady financial progress couldn't last and/or climbin up a few notches tempted fate to smite me back to my approved "zone"..... Last night about half the house electricity was going in and out, then out for a while. Shut off those breakers overnight due to safety concerns - but that includes the heat system, so luckily the low was only down to 45 and not seriously cold. So - then my phone went out. Some kind of verification lock and I don't have any of my apple info to fix this. Need to go to the tmobile where I bought it and get proof of purchase/ownership or somesuch, then maybe apple can help me. I fear all my pics are gone, some kind of reset, very upset. And I couldn't even use the flashlight feature on the phone in the dark - and I can't call an electrician until I get the phone issue fixed. It's like some mod twist on a Shakespearean comedy of errors! None of which moved the online apple help to give me any extra help last night - was on a chat with them for an hour...at least the internet wasn't impacted. Have the electric back up this am and so far seems ok, at least the house is getting warmed up - just didn't want anything to short out overnight and start a fire - not that I know for sure that turning off the breakers would prevent that - but at least there was a good chance that if there was a threat, that shut down a lot of the wires.....or so I thought. So now everything is going to take a lot of money and or a lot of time to remedy here. Neither of which I have in abundance - and if anything - my time is shorter than my cash in terms of availability to spend on unanticipated problems. so..... aside to debt - I knew something would go wrong!
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nikiz628
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Post by nikiz628 on Oct 27, 2019 15:36:55 GMT -5
Oh Rukh O'Rorke, I swear when it rains, it pours. Hopefully it won't cost too awful much to repair.
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shanendoah
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Post by shanendoah on Oct 28, 2019 10:43:38 GMT -5
shanendoah: 10/28/2019, $0 (5/4/2017, $43,691.23, WIRR151, WIRR160, WIRR164)
Line of Credit | Current Balance | Previous Balance | Starting Balance | Limit | APR | Total Paid | Percentage Paid | All other Cards | $0 | | $38,908.19 | | | | | Citi Diamond 2 | $0 | $483.64 | $4,783.04 | $9,600 | 0% until 04/19 (Purchases) 0% until 01/20 (Bal Trans) | $4,783.64 | 100% | Total | $0 | $483.64 | $43,691.23 |
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| $43,691.23 | 100% |
And done. Another $43.5k in debt paid off in 2.5 years. Let's not do that again.
I am not going to race the mortgage. That would just be depressing. (Required PITI is half my take home income each month, so there's not really "extra" to throw at it.) Instead, I'll focus on some savings goals.
Thank you all for being such a supportive group.
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Maryland Monroe
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Post by Maryland Monroe on Oct 28, 2019 12:47:40 GMT -5
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debthaven
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Post by debthaven on Oct 28, 2019 15:07:55 GMT -5
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shanendoah
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Post by shanendoah on Oct 28, 2019 16:40:32 GMT -5
Because I can do a search on this thread and find these things (and I, at least, find it interesting), in my first race, I paid off $76,500 in 70 months (5yrs, 10 months). That means I averaged a payoff of just under $1,100 each month. But the truth is, it was paid off by selling the condo we had inherited from my MIL. Otherwise, I was on an 8yr plan. This time round, I paid off $43,700 in 30 months. That means I averaged $1,450/month in payoff. And this time, there wasn't really a big windfall, just steady. So I have gotten better at this. I'm hoping I'm good enough now not to have to have another race.
Also, this December will mark my 10th anniversary of being on the WIR boards.
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chicg
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Post by chicg on Oct 28, 2019 16:53:39 GMT -5
Great job Shanendoah! Congrats on another $0
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debthaven
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Post by debthaven on Oct 28, 2019 17:02:14 GMT -5
That's just amazing to me Shanendoah. I have to admit that if I'd found these boards (much) earlier in life, being/becoming a higher earner would have been more important to me.
Are you getting rent from the roommate these days? Because 50% for your mortgage is very high.
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nikiz628
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Post by nikiz628 on Oct 28, 2019 22:38:32 GMT -5
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ners
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Post by ners on Oct 29, 2019 6:01:33 GMT -5
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Rukh O'Rorke
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Post by Rukh O'Rorke on Oct 29, 2019 8:54:14 GMT -5
shanendoah: 10/28/2019, $0 (5/4/2017, $43,691.23, WIRR151, WIRR160, WIRR164)
Line of Credit | Current Balance | Previous Balance | Starting Balance | Limit | APR | Total Paid | Percentage Paid | All other Cards | $0 | | $38,908.19 | | | | | Citi Diamond 2 | $0 | $483.64 | $4,783.04 | $9,600 | 0% until 04/19 (Purchases) 0% until 01/20 (Bal Trans) | $4,783.64 | 100% | Total | $0 | $483.64 | $43,691.23 |
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| $43,691.23 | 100% |
And done. Another $43.5k in debt paid off in 2.5 years. Let's not do that again.
I am not going to race the mortgage. That would just be depressing. (Required PITI is half my take home income each month, so there's not really "extra" to throw at it.) Instead, I'll focus on some savings goals.
Thank you all for being such a supportive group.
Nice work Shanendoah! And I know what you mean by depressing! Since joining the racers less than 6 month ago, I've really solidified my comprehension of my situation, laid everything out for myself (and you lot!), and buckled down and started paying it down. And I've made really good progress since I started! But - and this is a big but - I wasn't realizing the weight of it all until I really lived with paying it down for a bit. Making large payments here and there (2-3kish sometimes) and it being such a small dent in such a large pile.....and that making 200-300 extra every month or every other month does virtually nothing. My one focus on the student loans was the private loan - started at about 11k. I made a 3k payment when I got my vacation payout from oldcompany. Been making other larger payments there when I can, but a year later it is still over 7k. So taking on a large debt can be really demoralizing. I've paid off the IRS, but I still have sooooo far to go. Years and years to go. Even on this one smallish student loan, I will have to push hard to pay it off by end of 2020. And the next targeted loan is over 20k. It is going to be a very long haul
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shanendoah
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Post by shanendoah on Oct 29, 2019 9:28:25 GMT -5
Thanks everyone!
debthaven - We are getting rent from roommate. Not a lot. Really only about $100 in rent and the rest ($400/month) covers her share of the bills and groceries. But, I try to remind myself that while my mortgage payment is about 50% of take home pay and that is high, my total debt payment each month is about 50% of take home pay, and that's not bad at all.
Rukh O'Rorke - I hear you. It took me 15 years to pay off my undergraduate student loans. Graduate loans went away much more quickly, but the truth is, both only got paid because my MIL died. We paid off the graduate student loans with her life insurance and then we sold her condo, allowing us to buy a new house without selling our old house (so we had time to fix up the old house when no dogs or kids lived in it). When we sold that house, that is what I used to pay off the undergraduate loans. So yeah, I'm out of debt because my MIL died in her early 60s. Not necessarily a path I would recommend to others, but I think it's a legacy she would be very proud of having given us.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Oct 30, 2019 7:49:59 GMT -5
well - I knew my steady financial progress couldn't last and/or climbin up a few notches tempted fate to smite me back to my approved "zone"..... Last night about half the house electricity was going in and out, then out for a while. Shut off those breakers overnight due to safety concerns - but that includes the heat system, so luckily the low was only down to 45 and not seriously cold. So - then my phone went out. Some kind of verification lock and I don't have any of my apple info to fix this. Need to go to the tmobile where I bought it and get proof of purchase/ownership or somesuch, then maybe apple can help me. I fear all my pics are gone, some kind of reset, very upset. And I couldn't even use the flashlight feature on the phone in the dark - and I can't call an electrician until I get the phone issue fixed. It's like some mod twist on a Shakespearean comedy of errors! None of which moved the online apple help to give me any extra help last night - was on a chat with them for an hour...at least the internet wasn't impacted. Have the electric back up this am and so far seems ok, at least the house is getting warmed up - just didn't want anything to short out overnight and start a fire - not that I know for sure that turning off the breakers would prevent that - but at least there was a good chance that if there was a threat, that shut down a lot of the wires.....or so I thought. So now everything is going to take a lot of money and or a lot of time to remedy here. Neither of which I have in abundance - and if anything - my time is shorter than my cash in terms of availability to spend on unanticipated problems. so..... aside to debt - I knew something would go wrong! Just wanted to followup on this with an update. I got extremely lucky here! We were able to identify the source of the problem without calling an electrician and it was the responsibility of the electric company and they came and did the fix. As it was their lines, there was no charge. Although - it did take a few days to sort this out and the stress was enormous. Mainly - worrying for our safety as we worked to resolve this and waiting for the repairs. still without a phone, will get on that as my next task.....
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NastyWoman
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Post by NastyWoman on Oct 30, 2019 14:42:57 GMT -5
Nice work Shanendoah! And I know what you mean by depressing! Since joining the racers less than 6 month ago, I've really solidified my comprehension of my situation, laid everything out for myself (and you lot!), and buckled down and started paying it down. And I've made really good progress since I started! But - and this is a big but - I wasn't realizing the weight of it all until I really lived with paying it down for a bit. Making large payments here and there (2-3kish sometimes) and it being such a small dent in such a large pile.....and that making 200-300 extra every month or every other month does virtually nothing. My one focus on the student loans was the private loan - started at about 11k. I made a 3k payment when I got my vacation payout from oldcompany. Been making other larger payments there when I can, but a year later it is still over 7k. So taking on a large debt can be really demoralizing. I've paid off the IRS, but I still have sooooo far to go. Years and years to go. Even on this one smallish student loan, I will have to push hard to pay it off by end of 2020. And the next targeted loan is over 20k. It is going to be a very long haul Ruhk, I know what you mean about large debt that will take years and years to pay off being demoralizing. But have you thought about putting together an amortization table for your student debt? I had one for my mortgage (30yrs) which paid off way early. What I did was I set it up all the way to the original pay off date, added a column for additional payments and then did a conditional formatting for numbers <$0. As a result any time I felt like it I could look at when my debt was gone (as soon as it hit red) and how much time I had reduced the payment terms by -> every month that showed red was a month gone from my schedule. Ever so much more satisfying than just seeing that amount due go down...
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Rukh O'Rorke
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Post by Rukh O'Rorke on Oct 31, 2019 7:16:04 GMT -5
Nice work Shanendoah! And I know what you mean by depressing! Since joining the racers less than 6 month ago, I've really solidified my comprehension of my situation, laid everything out for myself (and you lot!), and buckled down and started paying it down. And I've made really good progress since I started! But - and this is a big but - I wasn't realizing the weight of it all until I really lived with paying it down for a bit. Making large payments here and there (2-3kish sometimes) and it being such a small dent in such a large pile.....and that making 200-300 extra every month or every other month does virtually nothing. My one focus on the student loans was the private loan - started at about 11k. I made a 3k payment when I got my vacation payout from oldcompany. Been making other larger payments there when I can, but a year later it is still over 7k. So taking on a large debt can be really demoralizing. I've paid off the IRS, but I still have sooooo far to go. Years and years to go. Even on this one smallish student loan, I will have to push hard to pay it off by end of 2020. And the next targeted loan is over 20k. It is going to be a very long haul Ruhk, I know what you mean about large debt that will take years and years to pay off being demoralizing. But have you thought about putting together an amortization table for your student debt? I had one for my mortgage (30yrs) which paid off way early. What I did was I set it up all the way to the original pay off date, added a column for additional payments and then did a conditional formatting for numbers <$0. As a result any time I felt like it I could look at when my debt was gone (as soon as it hit red) and how much time I had reduced the payment terms by -> every month that showed red was a month gone from my schedule. Ever so much more satisfying than just seeing that amount due go down... good idea! I likely won't be that sophisticated about it, but I have been looking at the current payoff dates (three sets across all the loans) and thinking about how to apply extra money - and how interest rates, monthly payment minimums, payoff date - and the overall effects on paying this loan vs that one - and working towards a larger plan for 2020. But "larger plan" sounds a little too grand there! I am truly racing right now - what I think some of you noted as gazelle intensity? But that is for sprinting, not a marathon. I need a more realistic, breathable budget at some point. I need a real plan for retirement too! I have a lot of work to do! But - I've made it this far in my own bumbling way, and it's not great but it isn't too bad either! I just need a couple years of my old enthusiasm and energy. But currently - I'm just dragging my wagon as best I can from one day to the next....
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