Women in Red Racers - South Region

[dimplesnlj]

ATTN CAPTAINS: UPDATE DIMPLESNLJ $29,356.33 (1/2/2010 $46,431 SU21/SU26)

AMEX            $8530    

Wells Fargo    $9623.03

Citi                $11,203.30

speechchick71 and redracerris: Thanks for the shoutouts re: last month's paydown .

[jdnstl]

GOAL UPDATES
New GOAL for 2014: $5 Million dollars. The date to meet this goal is 12/31/14 and we have $85,370.85 to go.

SOUTH ACTIVE MEMBERS
Bolded lines mean members are in danger of going inactive.

Updated: 8/5/2014 through page 173

= $100, = $500, = $1,000, = $5,000, = $10,000, = $25,000, = $75,000, = $100,000, = $200,000, = Location Needed


Bra Money: 7/17/2014 $9710 (7/20/2007 $33441 N321)
dimplesnlj: 8/3/2014 $29356.33 (1/2/2010 $46431 SU21/SU26)
forwardwego (2): 7/18/2014 $11928 (6/19/2011 $38780 SPT64, PB154)
jdnstl: 8/1/2014 $5750 (1/9/2008 $48042.26 S34)
muffy in the red: 7/16/2014 $78277.91 (9/9/2008 $128662.37 S373/S385/SU395/SPT77, SPT81, PB86, PB92, PB150)
Pay-No-Interest: 7/14/2014 $90000 (5/16/2007 $369884 N23/S25/SU359)
Red Racer Ris: 7/27/2014 $85727 (3/20/2010 $145409 Su220/PB166)
Sparks2710: 7/26/2014 $7664.54 (1/1/2014 $14316.93 PB166)
speechchick (3): 7/18/2014 $13,084 (1/6/2013 $14380 PB149)
Trojen3: 7/14/2014 $33658.32 (8/24/2012 $99479.89 138)
tulip: 7/26/2014 $158612.55 (11/12/2013 $175,435.53 PB169)



New Members
none


Shoutouts:

What great updates from everyone! Keep on keeping on....

speech: Life is not easy, and we can plan & work towards goals but sometimes they just don't materialize. It's not always our fault, although we do need to take responsibility when it is, and remember to keep focusing on trying to move forward. Your line of work is not easy, & doing contracting with constant moving is not easy. I personally would be worried any time there is a lapse in assignments. So I envy you're personality trait to be calm during uncertainties. I am glad to hear that you have a new contract lined up & will have a chance to re-evaluate goals & how to move foward. We all need to take time to sit down & evaluate where we are, where we are heading, & where we want to go. This keeps us focused & gets us back on track when we detour.
forwardwego: Yeah for an update!! Remember, the turtle ended up beating the hare. You'll see the finish line soon.
trojen2: Are you snowballing? If so, you're on the downhill slope & that can be exciting with the larger paydowns.
tulip: It may seem super tiny, but that extra 52-cents to the mortgage principle will add up quickly to time savings on paying it off.
Redracerris: Congrats on the shiny new ZERO! Almost $4k paid in one month, that is amazing.
Pay-No: Ris just zoomed ahead. You're up next...
Sparks: You're almost to 50% paid off! You're getting to the downhill slope & will zoom right out of here. WTG!
dimplesnlj: Another couple of hundred bites the dust. You're doing good staying steady with those big balances.

[jdnstl]

forwardwego - i am definitely NOT nervous to get out of debt. before i used student loans to live off of while in france for 3 semesters, i worked extremely hard to get out of debt & save $10k. of course, i worked 2 jobs & had no life but i had a goal i was working towards. but the feeling of being able to do my studies & not worry about consumer debt was freeing & i after knowing that feeling, i really want to get there again.

i do feel like i'm doing the 2-steps-foward-1-step-back do-si-do, though. yes, i've had some financial setbacks (i.e. trying to live on $800/month when on unemployment for almost 3 months), but i would say i had an equal part in being setback as well. for instance, i'm not good at saving for non-recurring expenses & then i get in trouble by spending more than i should & justifying that i really needed the stuff. like clothes shopping - i absolutely hate shopping for clothes for myself. i don't like my body & hate how NOTHING ever fits right. i hate shopping for DS because i know he'll outgrow it in 6 months or less. so i tend to wait until the last possible moment to buy what i need & by then i need several things, not just replacing 1 or 2 items in the closet. so instead of spending $30-50 here and there replacing as i go, i drop $100+ & then try to figure out how to cash flow it.

speech - this years tax free weekend for texas is next weekend - aug 8-10. speaking of clothes buying, i will likely spend more than necessary during this weekend. i already have a good stock of school supplies from years past but need a couple of items that are on the list that i don't have. i need to start my list now so i don't over do it....

3jsmom, fowardwego, speechchick, redracerris - thanks for the shoutouts.

redracerris - the job hunt has been tough. i had interviews at 2 really great companies & what i thought would be great fits for me, but one of them i totally blew the interview & the other i went in for the 2nd round interview & ended up not interviewing with the people i was supposed to interview with, which was really strange. i trust God's plan & timing, & i really think that the right opportunity will happen this month where i'll be able to start after school starts.

[murphath]

jdntsl:
 I used to buy DS's clothes at Kohl's because they have pretty good sales and brands for young men.  I would wait until I got the 30% off coupons (they send either 15,20 or 30% off q's every month) and a $10 off $30 purchase peelie coupon.  These are usually on the newspapers or sometimes sent with the % off coupon.  You do need to use a Kohl's credit card which can be tricky when in debt.  That's not the case for me so I pay it off every month.  But I do still try to save as much $$ as possible.  For example, DS likes the Vans pants.  They are usually $58 or so.  They're on sale for $34.  I'll use the $10/$30 q to make it $24 and then the 30% off q which will make it $16.80 plus tax.  If I had to buy him something else clotheswise, I'd just hunt down another $10/$30 q, get my total as close to $30 as possible (sometimes my clothes total is $29.99 so I'll buy a .99 greeting card to get to $30).

If your son is really young (1st to 3rd grade), I'd hunt garage sales/thrift stores.  If he's growing that fast, then so are the kids just ahead of his size.  Or maybe you could find someone with a boy one size up that would sell you/give you his outgrown clothes.  I had a friend with a boy a year ahead of mine and she always gave me his outgrown clothes.  Young boys usually don't care--especially if you sprinkle that with a few new items.

For school supplies, check out Target's coupon site.  They are also having a "get $5 gift card when you buy $25 in school supplies."  Don't know if you're spending that much but you can find that coupon in last Sunday's flyer or on Target's coupon site.

Good luck.

P.S.  Where did you study in France?  My favorite country, for sure, and I've travelled just about everywhere (worked for an airline many years ago).

[paynointerest]

Red-Racer-Ris -- Great update!  I'm loving that new "zero" in your race.  You've paid off a huge chunk of your loan -- I don't have that cash flow at this time so it will be slow going for me to catch up to you.  The "neck-in-neck" race was fun for the short while it lasted

Pay-no-Interest update:  $89,200.00

Amt paid from last month:  $800.00
% left on my mortgage:  53.6%

I'm not racing this debt but I also have a rental house that I'm paying off and every once and awhile I provide an update on the status of the rental house.  My current tenant just renewed the lease for another year -- and he and his family are great!  So, I owe $57,800 on the rental house.  That means I've paid $94,800 towards the mortgage on this house.  If I keep the house I can have it paid off in 7 more years -- which translates into paying off the house in 16 years instead of the 30 year mortgage. 

Nice job everyone!

[jdnstl]

Aug 6, 2014 11:15:49 GMT -5 murphath said:

jdntsl:


P.S.  Where did you study in France?  My favorite country, for sure, and I've travelled just about everywhere (worked for an airline many years ago).

hiya murpath! i was in Angers for my last semester of undergrad & Tours for my first (& only) year of grad school. i absolutely love the Loire valley! it is so beautiful & we loved visiting all the old chateaux. the country is so rich in history & culture, and they work really hard to preserve it, even in the small towns. if i had the opportunity i would love to live there.


regarding clothes...yes, i know that i can get good deals at kohl's - i did it at christmas to get DS some uniform pants. as for me, i'm a plus size & don't like anything that they carry for my size. it's mostly trashy looking or flashy to me, & even though something may look good on the manaquins, it does not flatter my size & shape. DS is still young, just going into kinder, & i have gotten most of his stuff 2nd hand from my sister (although her DS is 5 years older & about 10 sizes ahead) but this last year he had to have uniforms for pre-school. i did get several pairs of shorts 2nd hand from a garage sale but the shirts were expensive & i waited too long, missing any sales other than tax free weekend. we have changed school districts & he won't need uniforms so i can dig through the bags of clothes from my sis & save quite a bit this year. in general, and over the past couple of years, i know that this is one spending area that i don't do well at for budgeting. even though i do what i can to spend the least amount for the best quality, i still over-spend or don't budget for it at all. that's the real issue that i need to address & figure out the best way to handle it. right now i don't have room in the budget for "clothes" as a separate line-item. so what other ways can i sneak it into the budget? your WIRR thoughts are welcomed.

[jdnstl]

Aug 6, 2014 21:33:38 GMT -5 paynointerest said:

I'm not racing this debt but I also have a rental house that I'm paying off and every once and awhile I provide an update on the status of the rental house.  My current tenant just renewed the lease for another year -- and he and his family are great!  So, I owe $57,800 on the rental house.  That means I've paid $94,800 towards the mortgage on this house.  If I keep the house I can have it paid off in 7 more years -- which translates into paying off the house in 16 years instead of the 30 year mortgage. 

WTG on getting that rental paid down!!   just out of curiosity, once both houses are paid for will you be able to live off the rental income? or do you plan to use it simply as discretionary funds for traveling, home improvements, etc.?

[paynointerest]

jdnstl:  I think Murpath gave you some good suggestions for helping you to purchase clothes cheaply.  The only other idea I would have is to set aside a certain amount of cash each month and then only spend that amount to keep you from overspending.

I'm not generating enough income from the rental after it is paid off to live off of it.  I'm not sure we will keep the house long enough to see the loan paid off.  I have a great family in the house and they will definitely be there for 4 more years. One of the problems is it is 6 hours away from our current location.  The family is so good that I'm willing to keep it for 4 years.   We have offered to sell the house to the tenants but they don't have the money to buy it at this time.  I wouldn't mind keeping the house but DH isn't as excited about it mainly because it is so far away.  I've convinced DH to keep it 4 more years...we'll see what happens after that.

[sparks2710]

UPDATE: Sparks2710: 8/10/14: $7350.14 (1/1/14: $14,316.93)

[trojen3]

I had a few really good weeks at work so I was able to pay off more than usual. Yes, I'm snowballing and hope to have SL #2 completed within the month. That will allow an additional $1120 to go towards SL #3.

Update: Trojen3: 8/10/14 - $25,393.36 (8/24/12 - $99,479.89)

Name of Debt	Current Debt	Starting Debt	Total Paid Off	% Paid Off
Car Loan	$0	$2,201.08	$2,201.08	100%
SL #1 - Sallie Mae	$0	$1,491.42	$1,491.42	100%
SL #2 - Grad PLUS	$4,811.09	$46,338.33	$41,527.24	89.62%
SL #3 - Grad PLUS	$20,582.27	$28,852.49	$8,270.22	28.66%
SL #4 - Private	$0	$20,596.57	$20,596.57	100%
TOTAL	$25,393.36	$99,479.89	$74,086.53	74.47%

[speechchick71]

Happy Monday Morning everyone!  My new job starts today but I don't need to be in until 1pm so I'm blowing my free time on surfing and playing games on the computer.  UGH!  Such an addiction for me; I need to work on reducing my screen time.

Anyway, in my perusing of my email, I found one regarding Coursera.org.  I don't know if any of you know about this but there are free college courses you can take for information purposes only (not credit although I think you can get some sort of certificate).  If you google "coursera" you'll get the website and see all of the courses available but I thought this might be a good topic for those of us on these boards.  It's being offered from University of Florida and, again, it's FREE.  You don't need to apply or anything and you're not considered a student.  This course is on personal and family financial planning.  It doesn't start until Aug 20 and I think it's 7 weeks long.  You create an account and then log in for the readings/homework/presentation.  I did (part of) one on Thomas Jefferson and it was really interesting.  You don't need to do the homework although in this case it might be a good idea. 

Here is the link to the class:  www.coursera.org/course/uffinancialplanning  but again, if you just go to coursera.org and do a search, you might find other courses that are interesting to you!

[3jsmom31]

UPDATE:  $0 April '14


3jsmom31: 10/13/2013 $36,800.00 (10/3/12 $67,975.18 S142, S154)
Start:.......................................Current:
$41,033.19................................$30,000.00
$12,954.00................................$ 6,800.00
$ 9,809.38.................................*Zer *
$ 4,178.61.................................*Zer *
$67,975.18................................$36,800.00
paid $1,950.00 since last update
paid $31,175.18 to date.

We did the payoff on this in early April this year. It was from savings and the tax refund.  We've gained a few debts since but I'm not sure that we are going to race it.  It seems like we have a pattern of getting into debt, then struggling to pay it off, only to borrow again.

[speechchick71]

3js:  thanks for popping in and declaring your ZERO!  It will help us get to our goal.  I know what you mean about getting out of debt and then getting back in.  This will be the third or 4th time to pull myself out of the IOU state.  I'm hoping that I can be at my zero again within 12 months.  I hope you continue to pop in every so often to say hello!



One of the things I did to save a few $s was to not get cable tv with this assignment.  I bought an HD antenna, have Netflix, and Amazon Prime (played thru a smart dvd player).  Between the antenna, the dvd players, and both entertainment options, I think I am paying per year what I would normally pay for 3 months with cable tv.  I DO have internet as well but that is less than 1/2 of what I would have paid with cable and internet.  I am able to get in quite a few channels too:  NBC, ABC, CBS, Fox, CW, and some random movie channel, as well as PBS.  I"m hoping it will help to cut back on my screen time.  Plus, the dvd player and antenna are a one time cost. 

[forwardwego]

Attention Captains: UpDATE Forwardwego 8/12/14 $11880 (6/19/2011 $38780 SPT64, PB154)


Good Morning WIRRs 


Congrats on dipping down way under the $30K mark Dimplsnlj, it's very exciting to reach those big milestones and then charge on to the next one.

Thanks for the updates and shoutouts JDNSTL , I had to laugh yesterday when I discovered an inchworm on my shoe, and thought yep that's how I'm travelling in my debt race now. It's the only way the inchworm can travel, but he keeps on. 

Speech congrats on your new job, you'll be making big strides in your race. I'm with you on needing to wean off from this danged computer.

ANOTHER nice update for TROJEN and SPARKS, and that gives the southern WIRRs nice leaps in going for the group goal $5 million.

3JsMom Gotta love that big fat zero you earned paying off the farm   and another giant step leap for the Southern WIRRs.

Paynointerest and RedRACERRIS I enjoy your little mini race, it's kind of like a marathon where often the runners are spread out but occasionally they bunch up and it motivates each to go a little stronger. I'm midpoint between bramoney and speechchick and it would be fun to "bunch up" and boost each other along.

JDNSTL Knowing you on this board for 4 years makes me see you as an employee a company would be fortunate to have. Regarding your clothing budget, maybe it does need to be added as a line item as soon as you reasonably can. Like with every new savings somewhere else, or any increased income at least a little of it goes to the new item "clothes". My sis is plus size and she dresses awesome on a budget. She knows which stores have styles, colors, fabrics that make her look and feel her best. and then she works their deals...and I know you know how to do that   Sis is a blue-eyed blonde, so she gravitates to blues, and black slacks which gets her a lot of flexibility with separates. and she accessorizes to change up the basics. I am so proud of my sis, and hope telling you about her helps. I wear a uniform to work, and am challenged to get dressed other than that, so my personal experience wouldn't help much. 

I'm going to try to be more conscious of the progress and challenges going on here, apologies to anyone I missed this time. 

[forwardwego]

An interesting story with a few words of caution for the wise:

First, the outcome, so you don't have to worry as you read "the rest of the story" ...my DH is doing fine

On the memorial day holiday DH, DD, and I went to a Mexican restaurant. A bit loud, nice and lively place. At a regular table that can seat 4, DD and DH are across from each other. Early in the meal DH leaves for the bathroom. Not facing him I didn't realize he had a piece of steak stuck. He can't stand to be in a scene so goes to the bathroom to try to get it back up. When he came back to table he was in distress but could still cough. We went to ER. They did what they could to dislodge for him, but ended up with surgical removal. Thank God he is ok, and with insurance, our portion was a little less than $500. The ER people, the surgeon, the nurse on the recovery floor, all the med people said oh yeah this happens a lot. Especially at holiday when people eat out. The main thing we did right was go to ER right away. They said a lot of people think that as long as they can still breathe, they can work it out on their own, but waiting can cause infection and damage. One thing we did wrong was eat too fast, too big of bites because it was so delicious. Also DH should not have gone off by himself, scares me to think of that part. And since DH has a denture, steak is a bad choice. Also when he first had trouble with the too big bite, he should have spit it back instead of trying to swallow it. So just saying be careful when you eat (out). Think about your food choices. Take your time. And discuss this with your family, make sure none of them goes off by themselves if they are having trouble. The outcome could be terrible. (BTW I am CPR certified and was positioning for the heimlich maneuver when DH was able to squeak out the words "I can do it". Adrenaline was so high, probably would have hurt him.)

[3jsmom31]

Forward, I'm so glad the ending was good.  That had to be a scary time.


You are welcome, Speech.  We owe about as much as the start of the last one, and I'm just dumbfounded that we did it .  I'm cheering for you to get out, again.  At least we know systems that work to get out of debt, but not so much to stay out, lol.   Life happens, right?


Anywho, our new debts happened because:  We tried to find a nice used vehicle this summer, and after some looking, decided to get new.  I never thought that would be the best option, but around here, not much used for sale, and if you see something it is priced on the high end...  Then we had to borrow to help a family member.....  And then some stuff that was my fault, lol.  Anyway, we may race it, but it seems like everytime we pay off, we go back into the same level of debt.  I was looking at the old numbers and thinking about how we keep doing that.  At least we get through it, and there is always a good excuse to borrow....  Anyone else experience the reoccurring cycle of debt?  

[sparks2710]

UPDATE: Sparks2710: 8/14/14: $7061.15 (1/1/14: $14,316.93)


Super excited!! Reached the half-way point on this race! Slow and steady. Hope everyone has a great weekend!

[trojen3]

I paid off SL #2 yesterday! It hasn't cleared but couldn't wait to post. I'll be snowballing the $1120 from SL #2 to SL #3. Plus, all extra money til the end of the year will go towards SL #3. I'm hoping to be able to pay that one off by January 1. The original goal was next May when DH graduates from residency. On another positive note, for all my SL's, I am FINALLY under $300k! I'm clearly not racing all those, but it has been a long time coming to get into the $200k.

Update: 8/17/14 - Trojen3; $20,582.27 (8/24/12 - $99,479.89)

Name of Debt	Current Debt	Starting Debt	Total Paid	% Paid Off
Car Loan	$0	$2,201.08	$2,201.08	100%
SL #1 - Sallie Mae	$0	$1,491.42	$1,491.42	100%
SL #2 - Grad PLUS	$0	$46,338.33	$46,338.33	100%
SL #3 - Grad PLUS	$20,582.27	$28,852.49	$8,270.22	28.66%
SL #4 - Private	$0	$20,596.57	$20,596.57	100%
Total	$20,582.27	$99,479.89	$78,897.62	79.31%

[speechchick71]

Trojen:  you are blowing thru your debt like crazy now!  Are you going to race the rest of your student loans when you're done with this race?  I like that you didn't race your total debt.  By paying off that first chunk, you can feel like you've accomplished something.  I hope you don't run off after you win this race!

[jdnstl]

Paynointerest & fowardwego: I think that’s what it comes down to – I have to find a way to fit it in the budget. i just don't know how.
Sparks: WTG hitting 50% paid!!  If you’re snowballing this should be your downhill slope & you’ll hit the finish line in no time.
Speech: Thanks for sharing the info on Coursera. That link came up as invalid for me but I got to it by going to coursera.org & searching for financial planning.
Congratulations 3jsmom!!!   What a boost to our group goal too!
Trojen: You are zooming through this race!  WTG! Only one more loan & an anticipated finish date of January 1. That is excited!

[jdnstl]

A challenge for my WIRR friends.....

WARNING - THIS WILL BE LONG...as I'm copying from an email received from Dave Ramsey.


401(k) Fail: How Your Old Retirement Account Could Cost You Thousands

When you're focused on paying off debt or saving an emergency fund, other issues, like what to do with that 401(k) that's still with your previous employer, fall pretty low on your list of priorities. Actually, old retirement accounts rank fairly low on most folks' to-do list. Nearly half of American adults who participated in a workplace retirement plan last year said they had at least one other retirement account with a previous employer as well.

Around here, we've found that people treat this time of year as a sort of second new year. They're revisiting the goals they made in January and refocusing their efforts to reach those goals before the year is up.

If your old 401(k) just sat there gathering dust, it might be fine to leave it where it is. But by ignoring old retirement accounts, you could be losing tens of thousands of dollars thanks to 401(k) fees. For example, according to the U.S. Department of Labor, a $25,000 401(k) balance could grow to $227,000 over 35 years, based on a super-conservative 7% growth rate and a reasonable 0.5% fee. However, many 401(k) plans tack on an additional 1% in administrative fees, and as that compounds over 35 years, it reduces the final balance by 28%–a difference of $64,000!

While you're working, your employer's 401(k) match balances out those fees. But paying them after you've moved on to a new job only cuts the growth of your retirement. The last thing you need to do when you're working hard to pay off debt and build an emergency fund is throw away money that can help you secure your financial future.

So if you have an account with a former employer, here's our challenge to you: Stop losing money to 401(k) fees and breathe new life into your old retirement account. It's a simple process, and we'll even show you how you can get started today!

1. Get Things Rolling in the Right Direction

When you leave a job, you have the option to roll your 401(k) into an individual retirement arrangement (IRA). Just like your 401(k), an IRA is tax-deferred, which means the money in it grows tax-free. You pay taxes on it only when you withdraw the money.

To avoid taxes and penalties on your rollover, be sure to request a direct rollover. In a direct rollover, your old 401(k) provider writes a check in the amount of your balance payable to the new IRA. The provider can then send the check to you or the new IRA company, and you won't be penalized.

"The check can be mailed to the client and it won't be an issue as long as it's made out to the IRA and not the client," Brant Spesshardt, an investing advisor from Raleigh, NC, told us.

However, if the 401(k) provider makes the check payable to you, they'll withhold about 20% for taxes. And, if you don't deposit that check into an IRA within 60 days, you'll owe taxes and an early withdrawal penalty.


2. Build Your Balance With Better Funds

With your new IRA up and running, it's a good idea to update your investments. Now you can choose from thousands of mutual funds instead of the handful of funds included in your old 401(k) plan. "In the 401(k), your former employer chose which funds the plan offered, but with an IRA, you control the choices." Brant explained. "Out of 8,000 mutual funds, do you really think your former employer is making the best options available?"

With careful shopping you can find high-performing mutual funds that keep expenses down and allow your nest egg to grow along with long-term stock market trends.

As you make your selections, remember that choosing different types of funds will help reduce your risk. Put an equal portion of your retirement in these four categories of funds: growth, growth and income, aggressive growth, and international.


3. Leave It Alone–But Don't Neglect It!

Now it's time to give your new investments room to grow. That means you check in on them from time to time, but you don't make any big changes, like switching funds or cashing out completely, even when the stock market is swinging up and down.

This can be the toughest part of retirement investing, Brant said. "We all know when we invest it's wise to buy low and sell high," he said. "But too often human emotion causes us to do the exact opposite. Greed causes us to buy high and fear causes us to sell low."

To make money with stock investments like mutual funds, you have to resist those emotions and stick with your investing plan.


4. Get Advice on How to Make the Most of What You've Got

Your 401(k) plan probably offered some investing advice to help you manage your account. Opening an IRA doesn't mean you have to invest on your own. You can get better, more personalized advice by working with an investing professional from the start.

An investing advisor can help you with each step of your rollover and show you how to choose great mutual funds. Together you can also monitor your nest egg's growth. Once you're ready to start full-on retirement investing, your advisor can help you set your retirement goals and build a plan to reach them.

[speechchick71]

jdnstl: I'm looking forward to that class!  Hopefully we can post some challenges for the group.

Is anyone else taking it?

[muffyinthered]

ATTENTION:

MuffyintheRed 08/16/2014 $78,159.57 (9/9/08 $128,662.37 S37, SU395, PRO77, 81, 86.137) NC
Paid off since joining: $50,502.80 Percentage: 39.2%
Paid off this month: $118.34
Medical Bills: $245.51 - $59.00 = $186.51
CU Savings - $1400.13 + .02     

Another slow month!  This month I applied for Social Security and DH got his first check.  We are putting all this SS money in a separate savings account until I figure out our taxes next year, so we can use it to pay what we owe and then whatever is left, will go to paydown debt.  Since we don't know what this extra money will do to our taxes.  SS is not tax free!

DH went to the hospital for his tests last week and we were in the pre-op room waiting to go in for the procedure when the doctor walks in and says the machine is broken and the procedure can't be done!  Needless to say we were very upset.  We had to stay in a hotel room the night before, used a tank of gas to get to the hospital and boarded the dog for 1 night.  Not a lot of money but about $200.  So we get to go through all this again on Sept. 9th.

Congratulations to everybody who is making progress on their debt.  And good luck to everyone looking for another job.  Almost happy September and my Wirr anniversary.

[redracerris]

 Attention Captains: Update Red Racer Ris 08/21/2014 $84,673 (3/20/10 $145,409 SU220 SPB166 OK/AK)

	Original Amount	Last Month	This Month	Monthly Diff	Total Diff	% Paid
PLUS Loan	$11,000	$0	$0	$0	$11,000	100%
SL 1	$34,236	$16,393	$16,067	$326	$18,169	53.1%
SL 2	$31,691	$27,223	$27,117	$106	$4,574	14.4%
SL 3	$30,730	$22,565	$22,384	$181	$8,346	27.2%
SL 4	$30,088	$19,546	$19,105	$441	$10,983	36.5%
Old SL 1	$7,664	$0	$0	$0	$7,664	100%
Total	$145,409	$85,727	$84,673	$1,054	$60,736	41.7%

Student Loan 4	Original Amount	Last Month	This Month/%
Student Loan 4-A	$1,003	$0	$0/100%
Student Loan 4-B	$4,440	$4,008	$4,004/9.8%
Student Loan 4-C	$4,417	$4,137	$4,133/6.3%
Student Loan 4-D	$1,338	$0	$0/100%
Student Loan 4-E	$1,765	$0	$0/100%
Student Loan 4-F	$2,035	$0	$0/100%
Student Loan 4-G	$2,590	$1,556	$1,126/56.5%
Student Loan 4-H	$5,500	$4,138	$4,135/24.8%
Student Loan 4-I	$7,000	$5,706	$5,701/18.6%

$60k paid off. yay. Bittersweet because our boy Pangur Ban has gone missing.    I miss his kitty cuddles. He's a good mouser too. He's my tiger. At least Noodle has been giving us extra good cuddles. She's bi-polar and prissy, so it's not the same, but it helps.

[forwardwego]

Good FRIDAY Morning WIRRs 

Redracerris I hope Pangur Ban brings himself home soon, he sounds like an awesome boy . Congrats on $60K eliminated !!!

Muffyinthered good job on the update! It gets hard to have month after month of small paydowns, I'm there too. I'm thinking of joining the "savers" thread and the "no spend" thread. Trying to find a way to change things and reestablish some momentum in the paydowns. Keep your chin up, you can do it! 

Sparks Whoo Hoo 4 U!!! 50% paid of is one of my favorite milestones, just envision a scale tipping in your favor, or reaching the top of the mountain. 

Trojen KUDOS ON YOUR AWESOME PROGRESS! I agree with speechchick, good work breaking the debt down to chunks and now almost having this part conquered. Your presence and progress are very encouraging. I hope you'll stay and race your other loans next.

3jsmom You raise a good question: How to break a cycle of debt. (Though first I want to say you are doing so well, you are building assets and mostly spending on things that pay you back.) I think this may be one of the hardest aspects of paying off debt. Like maintaining weight loss is as hard or harder than losing weight. Gotta take off now for the J O B, but would like to discuss this more.

Have a good Friday WIRRfriends 

[3jsmom31]

forward, we try.  The truck is a depreciating expense, and will not hold value, but hopefully it will roll for a long time.  On other things, it's like investing, except we borrow to invest, lol.  We need to get money saved before we invest in the future.  That's so hard to do, though.  I'm not as good at saving as at paying debt off.  Maybe it's a goal thing.  Have a great day!

[tulip]

UPDATE: Tulip 08/24/14 $156,909.93 (11/12/13 $175,435.53 S165,169)

	11/12/13	07/26/14	08/24/14
Debt	Start	Previous	Current	Diff last
Target New	$66.73	$-	$-	$0.00
Citi 27	$102.49	$-	$-	$0.00
Target Old	$149.50	$-	$-	$0.00
Dentist	$650.00	$-	$-	$0.00
Discover Old	$835.00	$-	$-	$0.00
Visa Old	$1,250.00	$-	$-	$0.00
Visa New	$1,750.00	$-	$-	$0.00
Bank CC	$-	$-	$-	$0.00
DMV	$2,085.00	$-	$-	$0.00
Discover 4.99	$2,925.00	$-	$-	$0.00
Citi DH	$3,540.00	$-	$-	$0.00
Discover DH	$8,800.00	$-	$-	$0.00
Refi Loan	$2,995.03	$782.04	$777.04	-$5.00
Credit Union	$-	$1,135.00	$1,130.00	-$5.00
BT to Citibank Pay Day Loan	$1,269.46	$1,430.00	$1,425.00	-$5.00
MembersOwn CU	$-	$1,515.00	$1,510.00	-$5.00
Student Loan D	$1,998.22	$1,701.00	$1,696.00	-$5.00
Discover 2	$9,990.00	$2,038.00	$1,904.00	-$134.00
R2 Loan	$2,609.93	$2,548.01	$2,546.51	-$1.50
BT 1	$-	$2,620.00	$2,580.00	-$40.00
BT 2	$-	$3,565.00	$3,512.00	-$53.00
Student Loan B	$7,085.47	$6,956.80	$6,940.32	-$16.48
Student Loan A	$11,019.20	$10,819.01	$10,793.39	-$25.62
Discover 1	$-	$12,299.36	$12,100.00	-$199.36
Bank Loan	$23,031.05	$20,577.78	$19,896.11	-$681.67
Mazda	$24,468.95	$22,871.70	$22,467.30	-$404.40
Mortgage	$68,814.50	$67,753.85	$67,632.26	-$121.59
TOTAL	$175,435.53	$158,612.55	$156,909.93	-$1,702.62

Diff Last Post	($1,702.62)
Total Amt Pd	$18,525.60
Total % Pd	10.56%

Another update with everything going the right direction. My mortgage payment went down b/c I sent in a check for the escrow account to cover the difference for the year. It was only $86 needed for the adjustment and my payment went down about 70 cents but I sent in the regular $520. It just feels good knowing I own another $120 of my house . I sent my Bank Loan payment in early this time and it's amazing how much interest I shaved off by doing that.

So many great updates!!!

[forwardwego]

nice progress  tulip   just imagine how much you'll have paid down by your first WIRRversary!!


3jsmom it seems like you have a system that works for you. I know the standard advice is buy late model used vehicles, or the best you can find for cash on hand; but I have also bought new with the comfort of not buying the unknown of what someone else did to that vehicle. I think buying new can payoff also if negotiated well, and driven for a long time. Have a great weekend too 

So I've been over to the ns/cs thread (stands for no spend/ controlled spend). I highly recommend it. I'm finding some motivation and accountability there. Go on over and check it out. 

[speechchick71]

Ris:  did your kitty ever find his way home?
 
Tulip: you're right:  any time you move in the right direction, it's a good update!


This is always a good time of year for me.  I have a spreadsheet with my paydown plan for the year and at this point of the year, I can see to the end of the year.  I won't make my goals but for some reason, it helps me start to plan for next year.  I got a big paycheck this week for my travel allowance plus, now that I did my own housing, I had a huge housing allowance too.  Just by having it in my check, I'm getting almost $1500 more/month and it's tax free (although I have to pay rent!).  I just feel like I have some breathing room again.  I have a CC that I am not racing because it's a 0% interest card but it will be paid off by the end of this year.  I am going to be on top of my AmEx again by the end of September (as in no balance), and then I can really start knocking off that only debt that I'm racing. 

My plan for next year will be to transfer some of my remaining debt to an interest free card and then the remaining balance can be paid off in about 4 months.  In the meantime, I'm going to try a saving's challenge.  A couple years back there was a challenge to start saving $1/week and increasing by $1 each week.  By the end of the year, it would be something like $650.  Well I'm challenging myself to up it by 10...so $10/week and increasing by $10.  If I can do it, by the end of the year I will have saved over $13,000.  In the beginning, the saving would be small and will allow me to still pay off the debt.  By the time I'm saving hundreds, my debt SHOULD be long gone.  Maybe I'll even take that money and think about buying a house or something.

I just feel like there is going to be an end to this debt.  I haven't done too badly this year considering that I bought a car and put down $4000, had an almost $8000 tax bill, was out of work for a total of 5 weeks, made a tiny dent in my debt (and the year isn't over yet!), and didn't get further into debt at all.  The weight is lifting from my shoulders and I can breathe again! 

Are any of you starting to look at how your year is wrapping up and starting to make some goals for 2015?  And if any of you have the desire to search back for what you said your goals were, start looking at page 166.  That was when this year started!

[speechchick71]

UPDATE: 8/30/14 speechchick71 $12,955 (1/6/2013 $14,380 PB149 FL)

Loan	18-July	29-Aug	Difference
SCSFCU (8.9%)	$13,084.00	$12,955.00	-$129.00
Chase (0%)	$0.00	$0.00	$0.00
Tire Kingdom (0%)	$0.00	$0.00	$0.00
GE (0%)	$0.00	$0.00	$0.00
Savings	$347.00	$586.00	$300.00
	-	-	-
Total debt	$13,084.00	$12,955.00
amt pd		-$129.00
	-		-
Starting balance		$14,380.00
amt pd from start		$1,425.00
percentage from start		9.91%