Women in Red Racers - Northeast Region

[Rocky Mtn Saver]

What do you do for this company?  Is it easily transferrable skills?  Like once July 2014 comes around, can you look for a more appropriately-placed job?  Just reducing transportation expenses would help your long-term picture. 

I also was very comfortable with my job of 14 years and my friends where I lived.  It was a very difficult decision to leave my comfort zone.  So I totally get where you're coming from.  And I may go back to that area if I choose.  But I will do so in such a better place in my life than I was before.  I made fabulous new friends here and I also made some new goals that make me feel much more fulfilled as well.  Change isn't always a bad thing. 

[kristin11]

It is absolutely easily transferable - I do accounting for a country club.  Many of the clubs closer to home use the same software system as well so it would be easy to move over to a new job.  Problem is I have to wait for a job opening.  Lucky one of my cousins is an auditor for Long Island clubs so she always has the inside track on the jobs before anyone else so once I start looking I would say within 6 months I should be able to find something that pays better and in a better location.  I am currently paid pretty much on the bottom of the spectrum for someone in my position so any move would absolutely be beneficial.  Probably wondering why I stayed all this time if the pay is awful ... I could never beat the benefits here anywhere else. 

Was it that easy to tell I hate change?

[Rocky Mtn Saver]

Apr 10, 2013 15:20:47 GMT -5 kristin11 said:

Also, I see your response to how to use the EF above and I want your honest opinion - Am I being to hesitant to use it?  I feel like I have enough money in there to pay off either the VISA or my loan from my Aunt ... But not having it freaks me out ... I know if I lose my job I can pack up all my stuff and find some place to put it and pay my bills for a month or two.

Also thank you for talking through this with me all day!   

Honestly, I would wait to see if your Saturday gig pans out with enough money like your Aunt thinks it will.  Based on how things go while your co-worker is on maternity leave, you can make a decision at the end of that about whether you need the extra $75 in your monthly budget.  And if you do, I would personally pay off the personal loan ($400 or less) and keep the rest in your savings.  Things are in too much flux, I think, to be completely without an EF. 

[Rocky Mtn Saver]

Apr 10, 2013 15:32:02 GMT -5 kristin11 said:

It is absolutely easily transferable - I do accounting for a country club.  Many of the clubs closer to home use the same software system as well so it would be easy to move over to a new job.  Problem is I have to wait for a job opening.  Lucky one of my cousins is an auditor for Long Island clubs so she always has the inside track on the jobs before anyone else so once I start looking I would say within 6 months I should be able to find something that pays better and in a better location.  I am currently paid pretty much on the bottom of the spectrum for someone in my position so any move would absolutely be beneficial.  Probably wondering why I stayed all this time if the pay is awful ... I could never beat the benefits here anywhere else. 

Was it that easy to tell I hate change?

LOL, I loathe change, so I know how it goes! 

Accounting is a good field to be in because you can find work pretty steadily and relatively easily.  I've done it for years without a degree.  Don't limit yourself to just country clubs or that particular software, though.  If you understand billing, payables, payroll, financials, or whatever else you might do, you can learn to do it anywhere on any system.  You're smart, you can pick it up if you know the basics of accounting.  You might consider taking a class in Quickbooks or Peachtree or a few acct classes at a local CC in the meantime. That way, you are able to look for work outside that one industry. I've done Payables and Payroll on many computer systems for companies large and small, public and private. 

[snapdragon]

Apr 10, 2013 14:52:43 GMT -5 Rocky Mtn Saver said:

Apr 10, 2013 13:57:46 GMT -5 snapdragon said:

Kristin - I have to give you kudos for getting over 10K paid off. 

You say that your 401K is fully vested in July 2014. I would not let that hold me back from moving to another/better place of employment. Remember that all the money YOU have put into your 401K and the gains from your contribution go with you. Most companies have laddered contribution totals so you could realistically get 50% or more of the employer match. Double check your paperwork. At my company I was fully vested after 3 or 5 years. All you need to do is open a personal IRA or 401K with a bank or CU to transfer your account.

Here's what I have on your finances for a month --- I'm not sure which is which on some of these.

Income $ 2470.00

Expenses $ 1200.00 Rent
             $   230.00 utilities
             $  162.99 car
             $  208.17 CU loan personal
             $   85.00 Discover     -- 0% Mar 2014 than 21.24%
             $  100.00 Visa          -- 13.24% and 0% split Min is $25
             $   75.00 Personal
             $   90.00 HSBC         -- 19.99%
             $  135.00 NYCB        --  20.99%
             $ 160.00 Gas

Total left over    $  23.84 - Month or $103.84 if you pay the min on the Visa. (I might have things put down 2x if so than I am off.)

Your totals from your last update have:

Discover $ 3553.30
Visa       $ 1102.11
BP Loan  $ 1038.59
Aunt      $   400.00 
Totaling  $ 6094.00

Here are some ideas take them or ignore as which works for you.

1. I would seriously think about asking to move back home or renting out a room in someones place and asking your parents if they would keep your animals for a year.
You say you have a sister could you become roommates if she lives alone?

2. Take your $1100.00 EF and pay off the VISA. That will free up $100.00/mo. You could than split the difference between pay down and building up your EF again. (I know it sounds crazy but you are looking to free up money and that would do it.) You would still have $250 in your EF which would grow pretty quickly until October when things slow down.
         
                                      

As an alternative, she could pay off the Aunt's loan ($400) and save nearly as much money per month as paying off the Visa. But she could still keep much more of her EF intact this way. It wouldn't save as much interest, but I don't think that's as big of a concern in her situation.

Rocky where I was going was that she does not pay her aunt interest and the Visa is at 13% on a part of that total. 
But a nice shiny 0 is a nice shiny 0. It could also be a great motivator.

Kristin things are in flux for you right now so maybe it would be best to hold off on doing anything until a few months have passed. Though your budget is really tight.

[snapdragon]

Double post

[Rocky Mtn Saver]

Normally I would wholeheartedly agree, Snapdragon.  I'm just concerned with freeing up money in her budget while preserving as much as she can in savings, because I see her tight budget as a bigger concern than her interest rates at the moment.  However, in August the personal loan will be gone anyway, so she can reassess the budget at that point. 

[wudnit]

I asked this on the previous page, but no one responded, so I will ask again:

Does anyone know what has happened to the 50-100K list updates?  I haven't seen an update in over a month.  I'm wondering if the list is still being maintained or if it has now been eliminated.  I find those lists motivating and I'm missing it!

Thanks.

[Rocky Mtn Saver]

Wudnit, did you try PM'ing the person who does the updates?  It looks like the thread was started by DVM, and I know she's still an active member at least on YM. 

[kristin11]

Rocky - Taking some accounting classes is definitely something I plan to do in the future.  I have been doing country club accounting for almost 10 years now (since I was in middle school helping out my Aunt part-time) but I am sure that I have a lot to learn. 

I brought my whole situation up at my family dinner last night and everyone thinks the first step to lower my current panic is to get something figured out with my credit union loan.  My budget for the month of April is in place with all payments taken care of and I actually have a bit of extra cash since March had 5 Fridays but I did not budget to have to pay an additional $200 to that loan because I thought I had taken care of it in March.  My credit union did open up an inquiry on it and said it would take a few days but I am going to call tomorrow to check in if I haven't heard from them yet.  If that is settled in my favor I also should have no problems in May because its another 5 Friday month.  June is a month with 5 Saturdays so I know that I will have 4 paychecks from my Saturday job which should be around $400.  July is going to be the test.  In the meantime I am going to look over a bunch of 0% transfer offers that I have received and see if there is anyway for me to move the 2 high balance cards to 0% ones and cancel the high balance ones.  I know that closing accounts and having to much open credit can cause problems on your credit score but I dont plan on any major purchaes in the next 5 years.  My goal is when this is all said and done is to only keep the Discover and Disney cards and have everything else canceled.     

In the meantime here is my current update:

Kristin11: 4/11/13 $5,469.76 (12/31/09 $16,567.73 NEU8)

Creditor	3/1/13	4/11/13	Difference
Domestications	$0	$0	$0
Kohls	$0	$0	$0
Target Visa	$0	$0	$0
Discover	$3,553.30	$3,506.66	($46.64)
Disney Visa	$1,102.11	$1,075.66	($26.45)
Shell	$0	$0	$0
Macy's	$0	$0	$0
Sister's Loan	$0	$0	$0
Bethpage Loan	$1,038.59	$637.44	($401.15)
Aunt's Loan	$400	$250.00	($150.00)
Total:	$6,094.00	$5,469.76	($624.24)

I still have payments this month due for Disney, my Aunt's Loan and possibly Bethpage depending on how things shake out so I should be knocking another $100 off at least before the end of the month. 

[Rocky Mtn Saver]

Kristin, I didn't know that a couple of your debts are so low! 

I would just pay off the remaining Bethpage loan (-$600) with your savings before your good Saturday gig slows down, and that will free up more than $200 monthly in your budget.  Wouldn't this, combined with paying off your Aunt in August, make most of your current problem disappear?  I don't like to see you add any more loans to your situation, as I'm afraid it may just hinder your progress.  I don't really think you need to do so at this point anyway. 

I do agree that it's a good time to start closing your unused accounts so they can't cause trouble for you.  You should only close one at a time, no more often than every 6 months, though, to limit the credit score ding.  Keep your oldest card(s) open for the length of history, if possible. 

[Rocky Mtn Saver]

Kristin, why are there entries in your budget for:

$ 90.00 HSBC -- 19.99%
$ 135.00 NYCB -- 20.99%

but they're not in your update?  I assume you're just not racing them?  With these interest rates, I'd be more interested in getting rid of them quicker than the ones you *are* racing. 

[kristin11]

I know!  I was just getting everything together to post my update when I realized that I only have 3 or 4 payments left on that loan.  I think I was so upset about the $200 thing yesterday combined with getting overtime taken away that I wasn't thinking about the fact that as soon as that loan is paid off I will have an extra $50 in my paycheck each week eliminating most of my problem and allowing me some wiggle room.  I think I am going to wait this month and see how things shake out with my inquiry at Bethpage before I make a decision about using my EF.  If I do have to make the payment that should take my balance down to less than $450 which if I paid off with my EF would still leave me with more than $1,000 in there.  If I don't have to make the payment then I might wait a month or 2 until I get the balance down to an amount that I am comfortable leaving in my EF (under $1,000 just really scares me for some reason). 

I plan to keep Disney and Discover because Disney has the lowest interest rate and contstantly gives me transfer deals.  Discover is my longest credit card by a few years and even though it has the highest interest it also has the highest credit limit.  They offer me low purchase and balance transfer rates all the time so usually I can get the rate lower.  I wouldn't use this card on a normal basis.  Just basically keep it around for a dire emergency because it has a high limit. 

[Rocky Mtn Saver]

Depending on how the next couple of months goes with both your jobs, you might be able to squeeze out the rest of that Bethpage loan without touching savings.  I'd make that a priority over the next few months, and I'd bet you could do it!! 

[kristin11]

Apr 11, 2013 10:36:38 GMT -5 Rocky Mtn Saver said:

Kristin, why are there entries in your budget for:

$ 90.00 HSBC -- 19.99%
$ 135.00 NYCB -- 20.99%

but they're not in your update?  I assume you're just not racing them?  With these interest rates, I'd be more interested in getting rid of them quicker than the ones you *are* racing. 

Those are two cards that I chose not to race in the beginning because I was just getting my feet wet with the debt situation and wanted to take care of things with smaller balances first.  I plan on doing a second race that will include these two cards and my Auto loan after I can finally finish this one.  These are the two cards that I was refering to when I said I needed to look at 0% balance transfer offer to get rid of them.  

[Rocky Mtn Saver]

Apr 11, 2013 10:50:14 GMT -5 kristin11 said:

These are the two cards that I was refering to when I said I needed to look at 0% balance transfer offer to get rid of them.  

That's probably a good idea. 

[lark1964]

OK. I've been reading the issue here, let me add my 2 cents.

When I was 24, I had a baby, I was making $20K at a job that "had potential", and then they began to run roughshod over the employees and I worked for someone whose favorite game was to make us all feel worthless. And I stayed there for FIVE YEARS, hoping against hope that things would get better, and until this person retired three years down the line, they didn't. I had about 3% *total* payraises over those three years, it was horrid.

The last two years I was there, things weren't much better, although i did get a couple of raises that made things - palatable. But I pushed to keep my 401K. It was $6K, enough of a chunk that I didn't want to lose it. And by rolling it over into another 401K when I finally left, it was - to a degree - worth the effort I'd put into it. A rollover costs nothing. And if you're fully vested in 5 years, Kristin, and you think you can tough it out until July, do it.

But you also might check: if you leave, will you lose the whole thing, or only a portion? Because when I had that job, the rule of thumb was 20% per year, so year 1 I would have been vested 20%, year 2 40%, etc. to the end of year 5. If you're going to lose 20% of that money, then it becomes - six months from now, will it be worth the loss of $1,800? And consider this: If you're making MORE money - 20% more than you make now - at a new job, will that 20% make up the difference in that $1,800?

You have to realize from my standpoint, I did not have a degree, and I had a baby (a six year old by the time I left), and that was 18 years ago. $21K and change wasn't a bad salary, but it wasn't great, either.

My new job paid me $30K. And sent me to school. Big, big, big difference! My commute was about the same, 1 hour, still crappy, but it made a huge difference to be making better money and have actual "potential". And it was a jumping point for me to find better work and ultimately a far better salary.

If you look for a new job, and you're going to lose $1,800 of your 401K, but you find a job which pays you 20% (or even) more, which maybe turns out to be closer to home, would leaving before July be an acceptable option?

Do this. Put your resume together. Look on job web-sites, set up a job email account on yahoo or gmail, then go to Dice.com (don't go to Monster, you'll get spam email and thensome, you don't want it!), and then start looking at the responses you get. Also start looking in the paper, jobs do still get advertised that way, and look at the recruiters in your area, talk with a couple. If you know anyone personally, sometimes it's best to ask them what should you do with your resume? Sometimes they can help you update it the way it should be, they know the buzzwords, they'll know the market. You have a degree. You've got nearly five years at your job. You have a good track record and experience, plus you only have furry children, so you have nothing that would get in your way to late nights or anything, you already do those things. Start talking to recruiters and temp agencies and just put your name out there. You might get a far better position that pays you a much better salary where you don't have to work two jobs!

And remember, just because you're looking doesn't mean you're going to take a job next week, you may find something, you may not, it might be July before someone makes you an offer, so - start now, you have time! The best way to find a job is when you're working, you're far more relaxed, you can be much more selective. It makes a difference!

[tribeca7]

UPDATE: tribeca7: 4/11/13, $45,070.80 (3/6/13, $45,406.31, NE101) 

was hoping to have added an extra payment in there, but several expenses came up that i wasn't anticipating- blah!

[constanz22]

Hey everyone! I haven't been on the thread in AGES cuz I just couldn't seem to keep up with my racing totals. Things are good! I just realized this week that my existing credit card debt is FINALLY under $10k! And it is ALL at 0% right now, spread over 3 cards. So, I am finally starting to really see the light at the end of the tunnel! Seeing that balance under 10k has really gotten me fired up and motivated again to get rid of it once and for all! SO...my big hairy audacious goal is to be credit card debt free by my 45th birthday, which is approximately 18 months away. I would need to put about $500 a morth toward it between now and then. I don't know if I can do it, but I sure am going to try and could use some cheerleaders!

My camper is for sale and if I can unload that, I can absolutely make my goal. Fingers crossed as camping season is right around the corner here!

I've really been struggling with "new to me" car fever, but I keep resisting. Not easy when I refinanced a loan at my CU and they spit out a pre-approved car loan for up to 30k! As if! But, it does feel great that all these years of HARD work are paying off

I'll make an effort to check in more regularly, even if I'm not racing!

[wudnit]

I have no idea how to PM or any of that.  I'm really not computer savy at all. 

[kristin11]

Lark - Thank you for weighing in on my situation!  It is not that I feel stuck here in my job - I love the people I work with and what I do so even though I am underpaid and it is a long commute I actually most of the time look forward to coming to work.  I like that the people here depend on me since I have the most experience so there is really no problem sticking it out another year.  After reviewing the quarterly statement that I received yesterday our plan is actually doing pretty good lately and I am over $10,000.  Another year it has a chance to go even higher so definitely worth it to me!  I am glad to see that I am not the only one that has held out for that 401K money.  I have never put any money in so unless I stay the full 5 years my employer gets their entire contribution back.  Actually double checked on that yesterday after getting to keep a portion depending on years employed was brought up the other day. 

My cousin who also works in my field is constantly on the job search for me.  She gives me every posting that comes across her desk and I have actually gone on interviews but because of the benefits I have at my job I always decided to stay.  I have a resume that was put together professionally about 4 years ago when I thought that this job was just temporary so thats not an issue.  I always keep an eye out for something better to come along that would make it worth it to walk away from the money but so far nothing has been the right fit! 

Thank you for your input!

[nidena]

I've started the snowball attack on my HEL.  Its current balance is $31k.  I'm looking forward to watching that drop in $1000 increments in the coming months.  It's my highest rate of all my debts, including my mortgage; and the highest balance of the three debts that I plan to obliterate before retirement.  Oh, April 10th, was 17 years in the AF.  You can read some highlights at <screen name> dot blogspot dot com, if you'd like. 

[bankergurl]

So INSPIRED by all the payoffs this last 2 weeks! AMAZING! $100K Club updated as of 4/14/13! $10,274.73 paid off in the last 2 weeks! Three members have less then $1000 to graduating off the list! Can't wait to see it!
Welcome to newview from the Midwest!
Two leapfrogs, antevasin from the Northeast and Minnesotagirl7(3) from the Midwest!
Congrats to DizzyIntellectual from the Midwest for paying off over $5K and for getting under $290K!
Congrats to dschmidt1007 from the Northeast for paying off over $10K!
Congrats to lark_1964 from the Northeast for paying off over 10%!
Congrats to Red Racer Ris from the South for paying off over 25%!
Congrats to DebtFreeRedux from the South for paying off over $65k!
www.notmsnmoney.proboards.com/thread/11187/page/4/100k-club#

[nidena]

Unfortunately, I can't access the website for my mortgage due to being out of the country.  However, I will be home next month and will be able to post an actual update after that.  I'm so excited to be getting home that I've already scheduled a massage and pedicure and there will be Cheesecake Factory carrot cake at some point in the first week home. 

[ravenhaired]

UPDATE!

Ravenhaired: 4/15/13 $51,902.46 (12/23/09 $72,190.66)

Overall decrease $20,288.20

Pittsburgh, PA NE U4

DEBT	Dec '09	Dec '10	Dec '11	Dec '12	Apr '13
Home Equity Loan	63,865.83	58,603.12	50,508.60	52,350.73	51,902.46
MISC Debt	8,324.83		379.00	0.00	0.00
Totals	72,190.66	58,603.12	50,887.60	52,350.73	51,902.46
Change:		13,587.54	7,715.52	-1,463.13	448.27
SAVINGS	Dec '09	Dec '10	Dec '11	Dec '12	Apr '13
EF	0.00	1,985.02	5,000.00	8,000.00	8,094.36
Totals	190.20	1,985.02	5,000.00	8,000.00	8,094.36
Change:		1,794.82	3,014.98	3,000.00	94.36

Daily Goals

* Find inexpensive alternatives for EVERYTHING

* Think less, LOVE more

* Invest in passionate pursuits

* Accept what is

* Live honestly

* Live fearlessly

* Anger less, worry less

* Smile and laugh more

* Be grateful and remember LIFE IS SWEET!

[sarcasticgirl]

I just noticed that i fell off the board. Can't figure out how to post the table on the new board... so here's my tag line:

Sarcasticgirl: 04/15/13 $8220.00 (1/13/2011 $8,811.14 MPT12 MPT69) 

[meltingdebt]

Update meltingdebt: 4/16/13$9560.19 (1/1/10 $30,844.93 NEU 18)

 

DEBT	ORIGINAL BALANCE	LAST MONTHS BALANCE	CURRENT BALANCE	MONTHLY CHANGE	OVERALL CHANGE
CABLE	$136.84	$0.00	0.00	0.00	(136.84)
CELL PHONE	$367.54	$0.00	0.00	0.00	(367.54)
CLOTHING STORE	$512.46	0.00	0.00	0.00	(512.46)
CC#1	$742.37	0.00	$497.44	+497.44	(244.93)
CC #2	$1,168.00	$229.78	$1336.75	+1106.97	+168.75
CC #3	$9499.62	$1,915.32	$1922.81	+7.49	(7576.81)
BCC #1	$4818.91	$0.00	0.00	0.00	(4818.91)
BCC #2	$13,599.19	$6003.19	5803.19	(200.00)	(7796.00)
TOTAL	$30,844.93	$8418.29	$9560.19	+$1411.90	$21,284.74

 

Account	Original 1/1/10	LAST MONTHS BALANCE	CURRENT BALANCE	MONTHLY CHANGE	OVERALL CHANGE
Savings	0.00	$15.02	$65.02	$50.00	$65.02
Emergency	0.00	$1.55	$101.57	$100.02	$101.57
Vacation	0.00	$55.79	$155.92	$100.13	$155.92
New Car	0.00	$642.88	$717.82	$74.94	$717.82
IRA	0.00	$1791.55	$1791.55	0.00	$1791.55
Total	0.00	$2607.29	$2759.89	$152.60	$2759.89

 

 I am so embarrassed!!!  I had no idea how I increased my debt by $1411.90!  I knew I slid a little behind because my hours were cut during March/April, but still...  

This is the wake up call that I really need because I seriously need to find a new job.  My bosses are talking about trying to cut back our hours as much as possible over the next few months.  I know my debt is my own fault, but obviously I am not able to meet my current bills, as well as pay off my debt.  Off to look for a new job....

[redruby]

50-100K Club Update as of 4/16/2013.  <o:p></o:p>

notmsnmoney.proboards.com/thread/11190/wirr-50-100k-club?scrollTo=1482820&page=4<o:p></o:p>

[wudnit]

The link for the 50-100K did not work for me.  It brought me to the 50-100K club, but the last update showing was JANUARY.  Has anyone been able to get to the latest update for this list?  If so, could you please explain to me how to get to it?

 

Thanks!

[movinonup]

Apr 17, 2013 7:23:25 GMT -5 wudnit said:

The link for the 50-100K did not work for me.  It brought me to the 50-100K club, but the last update showing was JANUARY.  Has anyone been able to get to the latest update for this list?  If so, could you please explain to me how to get to it?

 

Thanks!

The link brought me to the January 27th update.  Just scroll further down on the page.  The update should be there.