International Region, Women in Red Racers

[Minnesotagirl7]

Shoutouts!

Idawngirl- Great advice!
alicesfreedom- Sorry that there’s another big project on the horizon, but it sounds necessary.
debtheaven- Glad you finally know the numbers!! Now the waiting game begins…
Bubbleepink- Your tagline looks good to me! And keep up the great work!
EL1504- Wow!! Under $3000, that must feel great! And a win in just a couple more months!
Psychobabbler- Nice job, you’ve paid off more than $3500!!

[Minnesotagirl7]

Smiley update!!!

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

debtheaven[4]: 2/5/11 $3,935 (11/25/2009 $11,500 I257) ;D
alicesfreedom: 2/11/11 $10,825.38 (9/2/2009 $24,275.73 I226)
bubbleepink: 2/19/11 $37,768.51 (4/17/2009 $41,648.59 N178, IPT7, IPT9) ;D
financiallyfreeinbc: 12/24/10 $0 (1/5/2010 $28,343.05 IU13)
EL1504[2]: 2/17/11 $2,929.99 (3/19/2010 $6,751.42 IU62) ;D
Idawngirl: 2/8/11 $9,884 (1/4/2010 $27,993 IU10)
InDebtYogini: 1/31/11 $7,082.15 (9/19/2001 $14,490.83 N559)
MoodyManitoba: 2/7/11 $176,552.44 (2/12/2009 $185,805.93 IU113)
Psychobabbler: 2/15/11 $19,129 (4/1/2010 $22,653 IU68) ;D
Thrifty_in_mtl: 2/3/11 $179,107.38 (1/6/2009 $201,231.48 IU142)
Writer88: 1/4/11 $0 (12/21/2006 $27,917 IU51) ;D
ZsDebt: 1/30/11 $43,542.68 (1/7/2010 $59,198.18 IU16) ;D

[ldawngirl]

Feb 20, 2011 9:25:18 GMT -5 @debtheaven said:

In the end we are going to do what Idawn suggested (thanks Idawn!). We'll pay off the car, the personal loan for the earnest money, 3K to the accounts, 2K vacation fund and 6500 toward the rental loan. Alas we will still owe 4412 on the reno loan.

I'm happy to help! In the end, I'm glad you were able to find something that worked for you and DH and that's the most important thing. No matter what, you know that you have been able to live with the budget to date, so even if you're still paying both loans for a short time, you know it's achievable and the end is now that much closer!

[debtheaven]

Minnesota
Thanks for the shout-out!

Idawn
Thanks for saying that, I really appreciate it. To be honest I'm feeling pretty bummed about it. 15 months seems such a long way away.

I realized something yesterday. I redid an exact budget. Our former mortgage payment was 600, so since paying off the house in 2007, we've automatically allocated that sum for debt (home improvements and the new car). But everything else has gone up: gas, electricity, telephone, water, gas for the car, both sets of property taxes, food, the kids' expenses. Everything except our income. The rentals cost us more or less, but they cost us. Three and a half years later, that 600/mo is no longer affordable. And in retrospect, taking out a 26-month car loan with payments of 355/mo was just plain STUPID!

The bottom line is, we really need to earn more money (as well as pay off debt). I have decided to lower the reno loan payment down as much as I can (hopefully to about 70/mo). I can always pay it down faster later.

However, I do intend to try to pay the boiler loan off by the end of this year rather than in May 2012. Keeping the reno loan payment as low as possible will hopefully help me achieve that goal.

ETA: I DON'T mean to complain! We live in a great house and we have everything we need, some of what we want, and the occasional great vacation! I am just trying to figure out why we feel like the proverbial hamsters on a wheel ... and I think I finally have. You can pay off debt till the cows come home (and we will LOL) but at some point you have to earn more.

[bankergurl]

$100K Club updated as of 2/20/11! $31,046.41 paid off this week! Fabulous!
- Congrats to SunshineGal1981 from the NE for graduating from the $100K Club! Great Job!
- Welcome to new $100K+ Racer, Accountant4Christ from the South!
notmsnmoney.proboards.com/index.cgi?action=display&board=wir&thread=2929&page=1

[debtheaven]

This message has been deleted.

[debtheaven]

The apt is SOLD!!! Whoo hoo!!!

I drove straight to the bank but they wouldn't let me deposit the check because they say DH needs to sign it too. How totally anticlimactic LOL!

[Minnesotagirl7]

debtheaven- Congrats!!

[ldawngirl]

DH - Congratulations! What a relief that it's all done!

[debtheaven]

Thanks Minnesota and Idawn!

We feel SO relieved! DH has signed the check and I'll be off to the bank again tomorrow morning.

Buh bye "earnest money loan" (tomorrow) and "car loan" (5 March) and half the "rental reno loan" (tomorrow)!

[el1504]

DH - Congratulations so exciting for you

Kiwigirl - Don't know what part of NZ you are in. Hoping that you and all your family and friends are safe and sound.

[debtheaven]

El karma to you for always thinking of others. I too hope that Kiwi and her loved ones are safe.

[financiallyfreeinbc]

DH- congrats!

[debtheaven]

Thank you FFBC!

Update!

2007Debtheaven 23 February 2011 285 (25/11/09 11,500)

I've decided to leave the reno loan alone for now, until the purchase goes through. But the earnest money loan is completely gone.

I also shored up the current account and rental accounts.

ETA: Non-racing debt: (Until we buy the new rental, then it will go up a lot)
* 2,325 @ 2.75%, 155/mo, 15 months left (new boiler)
* 10,912 @ 4.3%, 190/mo, 69 months left (rental reno loan)
* 30,436 @ 4.0%, 586/mo, 59 months left (rental mortgage)

[Minnesotagirl7]

debtheaven- All I have to say to that is woo hoo!!!

[LilBall]

[glow=pink,2,300]The 25K-50K list has been updated, check it out here![/glow]

notmsnmoney.proboards.com/index.cgi?action=display&board=wir&thread=3150&page=1#145831

[debtheaven]

Thanks Minnesota! I see you got a great refund ... you need to change your tagline! How many days left now?!

ETA: I know I said I wouldn't touch the reno loan till the purchase goes through, but I just asked our banker to put 1K towards it to get it just under 10K.

[kiwigirl]

Hi everyone,

Just wanted to pop in and say that I am safe. I am based in Wellington so am not in the same island as the earthquake (although we did feel it (we are about 4 hrs drive and a 3hr boat trip from wgtn so at probably 350-400 miles away). I spend 4 years in Christchurch though and alot of our friends have lost everything. One girl I went to university with is still missing. The whole country is devasted.

By the way - sorry I haven't got around to posting any updates yet. I have had a health issue that I am trying to resolve and it has kept me largely away from the computer (nothing serious but requires rest). I will come back another day and update as I don't have the information handy - just trying to get onto the websites I use to say that we are all safe. Thanks for the wellwishes - NZ really needs that at the moment.

[financiallyfreeinbc]

kiwigirl- It is so good to hear you are ok! Our thoughts are with your family and friends.... indeed, all of your countrymen.

[el1504]

Kiwigirl - hugs

I have just been offered (and accepted) a new job which will require a lot of work and a lot of extra hours but will provide an overtime allowance to compensate. My DH wants me to do this and is aware of the possible impact and is preparing himself to take on a lot of the chores around the house... We both see it as something I do for 12 months and then return to what I'm doing now and if I am going to ever do this I need to do it before having a child. Not sure if I am more scared or excited....

[Minnesotagirl7]

debtheaven- Its so much fun watching you spend this money! Thanks for asking – yes, we’re getting a nice refund. Totally unexpected, which means I didn’t plan for it, which means its like a bonus. We’re putting most of it towards non-racing debt. Only 172 days to go! And that could even speed up, depending on another bonus I have coming in a couple of weeks.
kiwigirl- Glad all is well.
ffinbc- Its nice to still hear from you!
el1504- Did you figure out yet if you’re scared or excited? Is this job work that you enjoy doing? I'm just thinking if it is, it might make the extra work and hours more tolerable.

[financiallyfreeinbc]

Minnesota-thanx! I am a consistent lurker now! I have to see how everyone is doing and it looks like everyone is kicking butt! Now that DH has a new job and is paid on the same day I am, I don't get to update as often but I still love seeing everyone else's updates! Can't wait to celebrate with Debheaven and many others!

[ldawngirl]

UPDATE

ldawngirl: 2/24/11 | $9,611 (1/4/10 | $27,993 | IU10)

$18,382 (65.6%) paid off

Slow and steady seems to be my motto now.

I seem to be spending money left, right and centre these days and I don't even know what on or why. Mostly stupid, frivolous things, like dinners out. And on top of that, my DF is on the last leg of his bankruptcy, so he's been told (by me) to work as little as possible. He had some very high paycheques for a few months and if he's not at or under a certain $$ figure on average over the nine month bankruptcy period, he has to stay in bankruptcy for another year. So it's basically make almost no money now, so we can save money over the long run by not having to pay the bankruptcy fees. So his paycheques have been about half what we're used to since he's taking a lot of time off without pay. It's not affecting the debt repayment, but is definitely taking a toll on our savings goals.

Only March and April left though, thank goodness! Our credit card is smoking (it's being paid off before the end of the month with my pay cheques, but I hate seeing anything more than a $0 balance now that they're all paid off). I just have to constantly remind myself that there are only two months left!!!

Thank goodness I have you guys though. I feel like if the cc isn't paid in full, I'd have to tell you all and I'd feel so guilty and embarrassed, so that's keeping me in check!

[indebtyogini]

Hi all! Just dropping by to say hi. I'll have an update early next week. I got my tax return and it was 4 times what i was expecting! The urge to throw it all at debt was overwhelming but instead I put it all into savings for all the big stuff I know I'm going to have to pay for this year. I also got my annual bonus. Boy what a joke! It was almost more of a slap in the face than a reward. But it's extra money coming in so I put that into savings too. I have such an urge to buy clothes with my tax return but I'm being good! I'll be back next week with a big ol' update!

[debtheaven]

Kiwi
So glad you are safe! I pray that you hear good news about your friend. Our thoughts are with you Kiwigirl.

EL
Good luck! I think you will do great, even if you are scared! Kudos to your DH for stepping up to the place with the chores! And I think you're right, if this is something challenging you want to do, it is definitely easier to do it before the kids come along.

Idawn
Yay for being under 10K! The important thing is to keep moving in the right direction, which you are clearly doing. Life is too short for debt-payoff alone LOL. I HATE cooking so I totally get you on the eating out. There are too many of us to eat out often, but when I go through my "no cooking" phases I find it is much cheaper to buy some frozen dinners. The other thing you could do when you do cook is freeze half for a night you really don't feel like cooking. Just some suggestions!

Yogini
Hi! Congrats on the extra savings, and I can't wait to see your next update!

FFBC
I'm sure I will constantly lurk here too!

Minnesota
Thank you! It was SUCH fun spending it! I wish I could do that more often! It's my "WIRR spending spree": nothing to show for it except smaller numbers on a screen LOL!

[debtheaven]

This message has been deleted.

[debtheaven]

This message has been deleted.

[debtheaven]

Sorry. There is an issue with the new purchase, so I keep posting and deleting. It looks like that purchase may fall through. Which would really mess up my plans because obviously I was counting on the rental income. So I'm eagerly awaiting our RE lawyer's return from vacation on Monday and really hoping it works out.

ETA: Non-racing debt: (Until we buy the new rental, then it will go up a lot)
* 2,325 @ 2.75%, 155/mo, 15 months left (new boiler)
* 9,912 @ 4.3%, 190/mo, 62 months left (rental reno loan)
* 30,436 @ 4.0%, 586/mo, 59 months left (rental mortgage)

Please note that the rental reno loan is now under 10K.

[debtheaven]

Non-financial update
I'm starting a new one-day-a-week job tomorrow. It's NOT well paid, but it's local. They will give me a second day when my business school job ends 1 April. And even a third day, but I'm not sure I could handle that because I'm ALSO trying to step up my freelance work. But they also offer occasional half-day English "workshops" and that could be a great compromise on the third day. I still have one long day elsewhere, the night class, and two private students.

One of the reasons I'd be SO bummed if this new purchase falls through is that after all these years here obsessing about money, I really want to put our debt on "set it and forget it" and use that time to MAKE money rather than fret about it.

Lastly, I was right, DD got into that wonderful college! GREAT news, but EXPENSIVE news! Which is another reason I really need to "step it up" and earn more. My ex ILs are paying for half of tuition (I will be eternally grateful to them for that) but my half comes to 4K per year plus incidentals (uniforms, equipment, knives, books, travel, lunches etc) for three years. I will be putting all my freelance income, and the 155/mo saved in health insurance (as of 1 April) into her college account.

Yes I do know she could take out loans but I don't want her to. She has NO desire to go to grad school (she didn't even want to go to college lol) so I want to make sure she graduates with her Bachelors loan free.

[el1504]

DH - great news about DD. You are a very generous mother for making such a sacrifice for your DD. I know how much you have worried about her future and its good to see the progress she is making. Karma to you!