Women in Red Racers - Northeast Region

[Maryland Monroe]

I am paying aggressively on a 0% interest card to pay it off by late summer and never pay interest. Next I will snowball those payments to an unsecured loan at 8.14% (just made first payment of 5-year term). Finally, I will pay extra on my mortgage (5 months into a 10-year loan) so I can retire without debt. Finally, I don't have any non-racing debt now. What shows in my totals above is it!!!!

[wudnit]

Maryland Monroe:  Looks like I'm not the only one racing to pay off mortgages so that I won't retire with debt!!  Given that we are getting a larger tax return than we had anticipated (my husband is self employed and has to pay in quarterly, but his business did poorly last year, so we are getting more back.....this could not have been anticipated).  So, I am hoping the return will arrive in time to finish off our apt. mortgage.  Then we will be down to our house and home equity.  I will attack the house (which has the larger interest rate and smaller balance) aggressively next.  The great thing is that once the apt. mortgage is paid off, that gives me another $700 to go towards the debt reduction plan.  Things should really start rolling!!  This has been such a slow race for me as I started racing nothing but mortgages and HE.  I had 3 mortgages when I started.  They are not quick payoffs, but I am happy with the progress and now FINALLY being able to see the light at the end of the tunnel.  There were times that I thought it was completely impossible, but by the end of the year, I should only have the HE left.  WOWZER!!  I'm getting excited!!

[crisde2bdebtfree]

UPDATE

Crisde2bdebtfree—3/ 25/2014—$12,220.75--8/31/2010 $16,834 NEU286) Long Island NY

So--I am really trying to get my finances in order--since i last updated i have made a few changes that i believe will help me in the long run--First i took advantage of a balance transfer from my credit union--I was able to transer my  Macys and Kohls and one other non racing bill to a card at 1.99% for 12 months after 12 months it goes to 7.99 which i think is great because these three store cards i was paying really high interest on--I canceled all three store cards--it was hard cause i love to shop but i do not like debt so i think i did the right thing. oh best part there was no balance transfer fee's--so that explains why my balance went up this update. I am also now having 5% of my salary going into defered comp plan--and im also having $80.00 a month going into a Christmas account, and $80.00 a month going into a vacation account.  I am still trying to get use to a cash only budget. And I still need work on getting my food budget down--but all in all--I think things are heading in the right direction.
 Here are my numbers for some reason My math is off a bit by a few cents--too tired to find my mistake--close enough 

DEBT    LAST UPDATE    THIS UPDATE   CHANGE     

MC        0.00                0.00                 NO CHANGE
CC1       3736.50          3736.50            NO CHANGE
CC2       3843.44          3673.37            170.07
KOHLS   1700.00          0.00                  1700.00  
MACYS   2000.00          0.00                  2000.00
BML       0.00               0.00                   NO CHANGE
DELL      0.00               0.00                   NO CHANGE
CC3       0.00               4782.00              (4782.00)  

TOTAL    11279.94       12191.87             (911.13)


      


 

[lazysundays]

Hiya very supportive WIRR. After a long hiatus, I am gonna try doing this again. Pre-kids I had debt control using excel sheets, then I stopped looking at those altogether when my laptop croaked.

I'm a newbie to YNAB, so hopefully I can be back in fire mode again. Last time I only posted my debts, now it's my SLs, DHs SLs and CCs to snowball.

Lazysundays 3/27/14 ($178,652) NEU173, From NJ
CC1 $10,763
CC2 $2307
CC3 $1612

CC4 $0. - will transfer 5k from cc1 to 0% interest

SL1 $77,466
SL2 $64,490
SL3 $22,014

When I was here last time, I was just doing SL1 and SL2, which started out at $188,000, and WIRR gave me the extra push that I needed to pay more than minimum then.

Edit- what page are we up to? My app says 173 but poster above me has starting page >200.

[movinonup]

Welcome back Lazy! 

I see the current page as 116.  I think some people have page references from MSN. 

Would CC2 or CC3 offer a 0% balance transfer?  It may make more sense to transfer both of those balances to CC4 then split the CC1 balance between CC2 and CC3.  If you can get away with this, all of your debt would be at 0% and you could be spending 2-5% in fees instead of whatever your interest is on these cards.  Just a thought.

-movinonup

[lazysundays]

Hiya.
I opened a zero interest for 15mo. on transfers card. I expected 10k to go through but was only approved for 5k. I will call them once the initial balance goes through to see if I can increase the limit since they advertise to do it that way to try to up it to 10k credit limit offer. My credit score is excellent so hoping it will be doable.

I will pay the 15m offer card off in full at month 14 so that they don't get me with interest at month 15. It's all in the fine print.

[bankergurl]

$50K - $100K Club Updated as of 3/30/14! $12,026.75 paid off in the last month!
Welcome back to SwimmingStrong from the South!
Two leapfrogs, Minnesotagirl7[3] and Banker Gurl, both from the Midwest!
Congrats to chaching from the International for paying off over 5%!
Congrats to Minnesotagirl7[3] for paying off over 45K and over 40%!
www.notmsnmoney.proboards.com/thread/11190/wirr-50-100k-club?page=5&scrollTo=1904211

[bankergurl]

$50K - $100K Club Updated as of 3/30/14! $12,026.75 paid off in the last month!
Welcome back to SwimmingStrong from the South!
Two leapfrogs, Minnesotagirl7[3] and Banker Gurl, both from the Midwest!
Congrats to chaching from the International for paying off over 5%!
Congrats to Minnesotagirl7[3] for paying off over 45K and over 40%!
www.notmsnmoney.proboards.com/thread/11190/wirr-50-100k-club?page=5&scrollTo=1904211

[bankergurl]

$100K Club Updated as of 3/30/14! $18,560.01 paid off in the last month!
Welcome back to Lazysundays from the Northeast!
Congrats to ambellamy from the West for getting under $110K!
Congrats to DizzyIntellectual from the Midwest for paying off over 15% and over $20K!
www.notmsnmoney.proboards.com/thread/11187/100k-club?page=5&scrollTo=1904347

[wudnit]

Update:  3/31/14 Wudnit $62,657 (1/13/10 $172915 NEU46)


I will be making another update later this month.  Just need to make sure all the funds come through before I send off my final payment for the apartment mortgage.  It will be great that next month I can concentrate on only two debts versus three!!!  I'm getting there.......there is light at the end of this tunnel.

[movinonup]

UPDATE- movinonup: 03/31/2014 $302,422.14 (02/12/13 $309,217.65 NE100) NY

Account	Interest Rate	02/12/2013	02/28/2014	03/31/2014	Amount Paid Since Last Update	Total Amount Paid	Percentage Paid
LOC	18.240%	$3,500.00	$330.16	$2,195.43	$(1,865.27)	$1304.57	37.27%
CC#1	0.000%	$20,688.08	$9,815.30	$9,665.30	$150.00	$11,022.78	53.28%
CC#2	0.000%	$(8.16)	$15,842.60	$15,525.60	$317.00	$(15,533.76)	(190,364.71)%
CC#3	18.990%	$10,300.00	$4,568.74	$4,443.74	$125.00	$5,856.26	56.86%
CC#4	16.990%	$9,135.05	$7,301.30	$7,145.31	$155.99	$1,989.74	21.78%
CC#5	10.990%	$4,910.22	$10,897.65	$10,782.21	$115.44	$(5,871.99)	(119.59)%
CC#6	0.000%	$1,239.00	$0.00	$0.00	$0.00	$1,239.00	100.00%
SL#1	3.500%	$23,021.50	$20,860.02	$20,726.95	$133.07	$2,294.55	9.97%
SL#2	6.800%	$4,748.54	$3,486.49	$3,406.83	$79.66	$1,341.71	28.26%
SL#3	6.550%	$2,533.57	$2,047.65	$2,007.93	$39.72	$525.64	20.75%
MTG	3.875%	$220,170.76	$225,175.44	$224,834.19	$341.25	$(4,663.43)	(2.12)%
Auto	4.240%	$8,979.09	$2,274.14	$1,668.65	$585.49	$7,290.44	81.19%
Total		$309,217.65	$302,599.49	$302,422.14	$177.35	$6,795.51	2.20%

EF=$141.03

My paydown was not as big as I wanted, but I am still moving in the right direction. My State tax refund is scheduled to be deposited to my account tomorrow. The 0% interest rate on CC#4 is scheduled to end next month. I will probably have to transfer part of that balance to another card to minimize my expense on that balance.

Roth IRA contributions and EF deposits still on auto-pilot. 

-movinonup

[Maryland Monroe]

Update: Maryland_Monroe[2] 4/1/14 $77870.45 (1/1/14 $80451.89 NE 113)

[tribeca7]

UPDATE: tribeca7: 4/1/14, $36,180.50 (3/6/13, $45,406.31, NE101)

[munjoyhill]

Update Munjoyhill  4/3/14  $107,203.22  ($155,340.30 6/18/09)

[steph08]

Hi all - long-time WIRR stalker here, though I am fairly active on WIR and YM.

Finally decided that I need to race some of our debt, some of which we accumulated from buying a new house.

I have some ideal target dates set, hopefully I can meet those!

I hope I did this correctly!

 steph08 4/8/2014 $19,848.98 (4/8/14 $19,848.98 NE116)     
             

	Start	Previous	Current	Difference	Target Payoff
Lowe's (0%)	2,136.35	2,136.35	2,136.35	-	July 2014
Furniture (0%)	4,239.04	4,239.04	4,239.04	-	November 2014
Car (2.9%)	13,473.59	13,473.59	13,473.59	-	July 2015
TOTAL	19,848.98	19,848.98	19,848.98	-

Paid this update: $-
Total Paid: $-
Percent Paid: 0.00%

[movinonup]

Welcome Stalker Steph!  I am assuming that the 0% rates end on your target payoff dates.  Is this right?  Check the fine print on your 0% offers.  Sometime, if you have any balance when the offer ends, you get charged all of the interest that would have accrued during the promotional period.

-movinonup

[steph08]

Nope, the 0% rates actually don't expire until 2015 and then 2018 on the furniture! I just want them gone because they are taking up too much in my monthly expenses. We're expecting our first child in July, so daycare is a new expense that will begin in October, so I want those payments gone.

[kristin11]

Update:

Kristin11: 4/15/14 $5,819.66 (12/31/09 $16,567.73 NEU8)

Creditor	3/6/14	4/15/14	Difference
Discover	$3,227.08	$4,858.86	$1,631.78
Disney Visa	$1,133.87	$960.80	($173.07)
Total:	$4,360.95	$5,819.66	$1458.71

This month I saw things slide backwards but it was actually by choice.  My sister and I got a once in a lifetime opportunity to attend an awards show in Dallas next April.  Unfortunately that meant that we had to book a lot of things now and prepay most of them.  My sister was at work so to make things easier I put everything on my Discover card.  She owes me half of what was spent and since her job is realitively new and she isn't on a perfect budget yet I told her we could sit down this weekend and figure out her repayment schedule.  As for mine I am giving myself the year to pay off the expenses related to the trip.  Since it really is a once in a lifetime opportunity I don't feel guility about spending the money.  I am just going to have to adjust things and maybe push some payoffs back a few months but I am hoping that I can get back on track by the fall. 

Hope everyone is ready for the summer!  I know that I sure am!  It means longer days and overtime but I am welcoming the extra money after charging over $1,000 in one day.  I am going to keep reevaluting my budget each month because I think I was a little over zealous with some payments this year but things are going well!  I am really happy that I have gotten myself back into a comfortable place!  Happy racing! 

[Rocky Mtn Saver]

That sounds fun.  What makes it a once-in-a-lifetime opportunity? 

[nidena]

Between selling stuff on a local facebook yard sale page and increasing my hours at the part time (not to mention just taking the card out of my wallet when it's truly not needed), I've been able to dam the miscellaneous expenses on my credit card.  I'm seeing some definite headway on the downward spiral of the balance but will continue to abstain from paying extra on my HEL for another month or so. 

I'll post an update very soon.  It's hard to believe that I've been focusing on debt paydown for nearly seven years now and I'm just a couple hundred $$ away from $60,000 paid off.  Whew!  That's a big number.  Have a good Easter, all!

[speechchick71]

Hey everyone: Come on over to the South board and give a huge "yahoo" to DeepinTX for her recent win!

[bankergurl]

$50K - $100K Club updates as of 4/19/14! $2366.54 paid off in the last three weeks!
One leapfrog, Wudnit from the NE!
Congrats to Wudnit from the NE for paying off over $110K!
www.notmsnmoney.proboards.com/thread/11190/wirr-50-100k-club?page=5&scrollTo=1922830

[bankergurl]

$100K Club Updated as of 4/19/14. $1292.91 paid off in the last three weeks!
Congrats to sealy2 from the West for paying off over $10K
www.notmsnmoney.proboards.com/thread/11187/100k-club?page=5&scrollTo=1922863

[nidena]

I was feeling bummed that my balance wasn't decreasing quickly and then I took a second look at my numbers. My credit card has gone down by more than $2500 since my last update and I've gotten rid of $13,000+ in debt by paying it down and selling my second vehicle since November. THAT is a success to be celebrated and chewed on when I'm feeling bummed about what I have left. Here is my current UPDATE:

nidena: 4/22/2014 $162,944.21 (8/22/2007 $223,361.2 N453,503,NE648,NPT25)

I plan to have another party hat before the year is out!!  And, hopefully within the next 12 months, my third . 

[wudnit]

UPDATE: 

Wudnit, 04/22/14, $60,957  (1/13/10 $172915 NEU46)


Okay, this wasn't the update that I was hoping. I have enough aside to pay off the Apartment mortgage, but chose not to do so as my DH has not been paid for the past several weeks.  I need to wait until that resolves itself.  I should be able to pay it off in a couple of weeks though.  I will be below 60,000 come May so that is good.  At least I'm staying on the right track.  Things don't always go the way I plan and the debts don't always dwindle at the rate I would like, but I'm making steady progress toward being debt free.

[kristin11]

Apr 15, 2014 15:09:12 GMT -5 Rocky Mtn Saver said:

That sounds fun.  What makes it a once-in-a-lifetime opportunity? 

The Academy of Country Music awards are held every year in Las Vegas at the MGM for 8,000 people.  Because this year is the 50th Anniversary they are having them at Cowboys stadium which can hold 70,000 people.  My sister and I were never able to get tickets to the show in Vegas and if we did they would cost us A LOT of money. 

[Rocky Mtn Saver]

Ah.  Sounds fun.  I hope you're at least in a little better than the nosebleed section!  

[lazysundays]

Lazysundays 4-23-14 $178,403 (3/27/14 $178,652) NEU173, From NJ

CC1 $5863
CC2 $2473
CC3 $1762
CC4 $4900

SL1 $77,282
SL2 $64,245
SL3 $21,878

I am currently in the middle of transferring both our individual checking to a joint checking, so I wanted some extra cash flow in case a bill came I forgot to unautomate.

Yes we spent on two CCs. Dh had a fraud charge on his debit so while he waited for a new card, he had to use his cc. I'm trying not to use the card and I'm getting more confident about using debit. I used to use it and pay in full for the rewards. I'm going to be putting it away until that cc is paid off in full.

The going will be slow for the next 2 months while build our one month spending buffer. After that all $ not needed in budget will go to snowball.

[steph08]

Updated some of my target payoff dates because I just think I wasn't being realistic - especially in a new house where we seem to "need" something all the time, plus with buying baby items. As long as the 0%s are gone before their expiration dates (not until 2015 and 2018) and hopefully the car loan by the end of 2015, we should be in good shape.

May will be a rough month because I just had to buy new tires, DH's truck needed brakes/rotors/calipers and we had to get flooring for the nursery. Every single thing we need seems to cost $400 each. *sigh* We'll see if I can still stick to the budget.

UPDATE: steph08 4/24/2014 $19,016.35 (4/8/2014 $19,016.35 NE116)

Card (Interest Rate)	Start	Previous	Current	Difference	Target Payoff
Lowe's (0%)	2,136.35	2,136.35	1,790.09	(346.26)	August 2014
Furniture (0%)	4,239.04	4,239.04	4,054.04	(185.00)	December 2014
Car (2.9%)	13,473.59	13,473.59	13,172.22	(301.37)	August 2015
TOTAL	19,848.98	19,848.98	19,016.35	(832.63)

Paid this update: $832.63
Total Paid: $832.63
Percent Paid: 4.19%

[movinonup]

Apr 24, 2014 12:40:55 GMT -5 steph08 said:

Updated some of my target payoff dates because I just think I wasn't being realistic - especially in a new house where we seem to "need" something all the time, plus with buying baby items. As long as the 0%s are gone before their expiration dates (not until 2015 and 2018) and hopefully the car loan by the end of 2015, we should be in good shape.

May will be a rough month because I just had to buy new tires, DH's truck needed brakes/rotors/calipers and we had to get flooring for the nursery. Every single thing we need seems to cost $400 each. *sigh* We'll see if I can still stick to the budget.

Nice update!  Do you have an emergency fund?  Maybe it makes sense to slow down the payoff of the 0% balances and build more of an emergency fund instead.  That way the $400 expenses won't affect you too much when they come.

-movinonup