snapdragon
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Post by snapdragon on Dec 19, 2019 11:26:32 GMT -5
TheHaitian - So sorry to hear about the idiot drivers who are not paying attention. I am glad that you were not heavily injured again. Yes you have a large amount of debt. But you can work it out. Is the wife finally getting on board with cutting back or are you still sorta in the canoe by yourself? I really hope she is with you on the journey this time.
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Minnesotagirl7
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Post by Minnesotagirl7 on Dec 19, 2019 13:52:01 GMT -5
TheHaitian- Very sorry to hear about your struggles. Super proud of you for putting it all out there!! Based on current finances, do you have an idea how much you're able to put towards debt each month? Will you be able to get a couple fairly quick wins with the two smaller balances?
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TheHaitian
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Post by TheHaitian on Dec 19, 2019 21:57:13 GMT -5
TheHaitian Sorry about the car issues. I know you can get back on track. Thank you, working towards that!
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TheHaitian
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Post by TheHaitian on Dec 19, 2019 21:57:42 GMT -5
TheHaitian - So sorry to hear about the idiot drivers who are not paying attention. I am glad that you were not heavily injured again. Yes you have a large amount of debt. But you can work it out. Is the wife finally getting on board with cutting back or are you still sorta in the canoe by yourself? I really hope she is with you on the journey this time. On board? No But we have made some progress...
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TheHaitian
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Post by TheHaitian on Dec 19, 2019 21:58:20 GMT -5
TheHaitian- Very sorry to hear about your struggles. Super proud of you for putting it all out there!! Based on current finances, do you have an idea how much you're able to put towards debt each month? Will you be able to get a couple fairly quick wins with the two smaller balances? Current finances are a bit tricky but I think the 2 small cards can be paid off within the next 3 months .... fingers crossed. Thank you
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chiver78
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Post by chiver78 on Dec 20, 2019 10:45:47 GMT -5
woo hoo! plenty of breathing room on moving balances - yesterday's mail included an updated BT offer for the 6.99% for life. I now have til the end of Feb to complete the moves. I actually just paid off the last $300 on the Citi card, the online balance shows $0.00! once the payment fully posts and the available credit catches up, I'll make move #2 to pull most of the balance off the first card to free up space for more 6.99%. that move comes with a fee, but what I'm going to be saving in interest is more than worth it. once the dust settles on the moves, I'll post a clean set of updated balances, with interest rates and promotional info. yay, progress!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Dec 20, 2019 12:15:19 GMT -5
Based on where I am right now financially - it doesn't seem viable for me to keep the house in retirement and that is quite a shock to my system. Not that I'm opposed to downsizing - but that it might not be a choice is a bit uncomfortable. Rukh O'Rorke it's funny that you mentioned this, because I am in the process of coming to the same conclusion, and I'm closer to retirement than you are. I haven't mentioned it to DH, and I don't plan to for a while. I KNOW DH's reaction would be "Cool! Let's sell this beautiful house with a garden so we can move into a tiny shoebox in central Paris instead!!!" In our case a lot of it has to do with having an old house that has a huge amount of "character" in a suburb with very high property taxes, and which is not energy-efficient.
Been thinking more about this during the holidays. What with putting up the decor, thinking about all the years we've spent here. Wondering what it would take to be able to keep the house and have the retirement I want. And how that impacts when my retirement is! But - as always - step 1 to anything is to pay off these student loans!! It's like every plan or strategy breaks apart on this albatross! I was thinking to step back from my goal to pay off the private loan in 2020, due to increased focus on savings. But, I think I can do it with my planned side income - and if that doesn't come through then the goal is postponed to 2021...so I will forge ahead! Surprisingly, I think the goal of going under 6 figures would likely happen in 2020 without any or very little extra payments - but that would still leave a large chunk of private loan as they keep lowering my minimum payment like every month as I pay down extra. They are determined to stretch it out for a 20 year repayment. Not on my watch people!!!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Dec 20, 2019 12:18:45 GMT -5
Based on where I am right now financially - it doesn't seem viable for me to keep the house in retirement and that is quite a shock to my system. Not that I'm opposed to downsizing - but that it might not be a choice is a bit uncomfortable. Rukh O'Rorke it's funny that you mentioned this, because I am in the process of coming to the same conclusion, and I'm closer to retirement than you are. I haven't mentioned it to DH, and I don't plan to for a while. I KNOW DH's reaction would be "Cool! Let's sell this beautiful house with a garden so we can move into a tiny shoebox in central Paris instead!!!" In our case a lot of it has to do with having an old house that has a huge amount of "character" in a suburb with very high property taxes, and which is not energy-efficient.
#same! What are your choices for next house if you do sell the one you are in? French countryside? I'd like to be a nomad for about 5 years, travel the world, hopefully on the cheap without having to maintain a primary residence. voluntary bag lady
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Rukh O'Rorke
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Post by Rukh O'Rorke on Dec 20, 2019 13:16:52 GMT -5
UPDATE! Rukh O'Rorke 12/20/2019 $111,643.11 (6/29/2019 $126,041.86) debt | June 1 | June 29 | August 6 | Sept 6 | October 8 | October 26 | November 6 | December 6 | December 20
| Difference | IRS | - | $6,384.25 | $4,427.14 | $1,925.94 | $837.50
| ~~~0.00~~~ | -
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| 0! |
| Personal Loan | - | $1880 | $1960 | $1518.15 | $1,538.15
| $873.11
| $ 369.84
| $ 915.55 | 0!
| $ 915.55
| CC1 |
| . | - | . | . | . | . |
|
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| CC2 |
| . | - | . | . | . | . |
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| SL Private | $8,253.95
| $8,229.97
| $8,138.02 | $7,844.81
| $7,542.27
| $7,223.38
| $ 7,236.26
| $ 7,184.59
| $ 6204.46 | $ 980.13 | SL Fed | $110,027.95
| $110,396.31 | $108,319.69 | $107,570.12
| $106,798.08
| $107,124.82
| $ 105,985.96
| $105,188.18
| $105,438.65 | $ (250.47) | Total | - | $126,041.86 | $122,844.85
| $118,859.02
| $116,716.00
| $115,221.31
| $ 113,592.06
| $113,288.32 | $111,643.11 | $1,645.21 |
2019 Goals
October: Pay at least 500 to IRS, 250 personal loan
November: Pay off IRS
December: Pay off Personal loan
2020 Goals
- January:
Pay off any CC balances (I may be transferring IRS/PL balances onto cc temporarily) - February:
- March:
- April:
- May:
- June:
- July:
- August:
- September:
- October:
- November:
- December: Pay off Private Student Loan/Be under 6 figures overall
Final update of 2019!!!! All 2019 goals were met!!! Woohoo!! I'll enter 2020 owing a wee bit more than this due to that interest capitalizing daily, but I'm happy to end the year on a pretty good note! My 2020 goals will be pretty streamlined as I was able to negotiate this all without transferring any lasting credit card balances. it was pretty close a few times! I wasn't sure that was possible - but, I got very lucky with my side biz coming through Q4 this year. I'll post in 2020 starting afresh with a new table. I am so excited about racing in 2020. I want to crack that 6 figure mark so badly, you can't even imagine how obsessively I am thinking about that!!! My last month to month cycle on the Fed student loans showed nearly $790 in principal paid off, plus some principal for the private loan on minimum payments so I really only need about 200 month over minimum payments to break the 6 figure mark. Super psyched! To eliminate the private loan altogether however, I need to put about 500 extra a month towards it. That seems daunting! I'm still working on budget and payroll stuff going into 2020 so will see where it all lands. And then I'll try to make more month to month goals for myself. At some point, there's going to be a 3 paycheck month.
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debthaven
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Post by debthaven on Dec 20, 2019 18:38:08 GMT -5
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seriousthistime
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Post by seriousthistime on Dec 21, 2019 12:50:18 GMT -5
woo hoo! plenty of breathing room on moving balances - yesterday's mail included an updated BT offer for the 6.99% for life. I now have til the end of Feb to complete the moves. I actually just paid off the last $300 on the Citi card, the online balance shows $0.00! once the payment fully posts and the available credit catches up, I'll make move #2 to pull most of the balance off the first card to free up space for more 6.99%. that move comes with a fee, but what I'm going to be saving in interest is more than worth it. once the dust settles on the moves, I'll post a clean set of updated balances, with interest rates and promotional info. yay, progress! Chiver, I don't want to rain on your parade. But I would like to make sure you are reading the fine print on the balance transfers. Here's what happened to me back when I was playing the shell game. I transferred a high-interest balance to a different card with a balance transfer offer with a low interest rate for the life of the balance. I was so thrilled to get rid of high-interest debt. But then the bank (one of the evil big banks) notified me that my minimum payment would be doubling. Instead of the payment being like 1.5% of the balance plus interest, rounded up to the nearest dollar, it was going to be 3% of the balance plus interest. Until that balance was paid in full, I was really scrambling to make those payments, plus all the others I had at the time. I don't even know that this was in the fine print. I wonder if the big evil bank realized they'd made a loan with terms way too generous, and realizing they couldn't change the interest rate without violating the agreement, they could get me to pay it off faster by increasing the minimum payment. It could be that banking and consumer reforms prevent banks from doing this now. And despite the squeeze I felt when the payments doubled, the shell game did help me get out of debt faster.
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chiver78
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Post by chiver78 on Dec 22, 2019 11:34:59 GMT -5
yes, I have read the fine print, and it won't dramatically change like you have described. but, that is a very important thing to pay attention to. today's move - I pulled $13k onto the Citi card and another $3k onto a 2.99% til early 2021 BT offer. that means the only balances on the high limit card are the fixed rate for life. there's like $3k or $4k at 5.99% and the rest is 6.99%. I have also figured out the next move after this - one of my BofA cards has a nice low rate promotional offer, and a current balance that will fit entirely on the high limit card. so I will move that over, and then consolidate a couple smaller balances onto the BofA card. at that point, it looks like my highest interest rate is a 19.99% card - so that will be the first to attack.
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TheHaitian
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Post by TheHaitian on Dec 22, 2019 16:19:28 GMT -5
yes, I have read the fine print, and it won't dramatically change like you have described. but, that is a very important thing to pay attention to. today's move - I pulled $13k onto the Citi card and another $3k onto a 2.99% til early 2021 BT offer. that means the only balances on the high limit card are the fixed rate for life. there's like $3k or $4k at 5.99% and the rest is 6.99%. I have also figured out the next move after this - one of my BofA cards has a nice low rate promotional offer, and a current balance that will fit entirely on the high limit card. so I will move that over, and then consolidate a couple smaller balances onto the BofA card. at that point, it looks like my highest interest rate is a 19.99% card - so that will be the first to attack. Sounds like you have a plan... also, are you selling your home? Why? You can PM me... sorry have not been around much.
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chiver78
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Post by chiver78 on Dec 23, 2019 5:14:28 GMT -5
yes, I have read the fine print, and it won't dramatically change like you have described. but, that is a very important thing to pay attention to. today's move - I pulled $13k onto the Citi card and another $3k onto a 2.99% til early 2021 BT offer. that means the only balances on the high limit card are the fixed rate for life. there's like $3k or $4k at 5.99% and the rest is 6.99%. I have also figured out the next move after this - one of my BofA cards has a nice low rate promotional offer, and a current balance that will fit entirely on the high limit card. so I will move that over, and then consolidate a couple smaller balances onto the BofA card. at that point, it looks like my highest interest rate is a 19.99% card - so that will be the first to attack. Sounds like you have a plan... also, are you selling your home? Why? You can PM me... sorry have not been around much. all good. yup, selling. there are a number of reasons. my commute is 2h one way, my job is stable and stupidly well-paying, the real estate market is insane right now and I'm listed for $80k more than I paid, and I might pack up and move to AZ in a year, idk. but the gist of it is that unloading this house gives me a lot of options.
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nikiz628
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Post by nikiz628 on Dec 23, 2019 15:57:54 GMT -5
Update Race #2 12/23/2019Race #2 | INTEREST | ORIGINAL | LAST UPDATE | THIS UPDATE | DIFFERENCE | Auto Loan (SUV) | 4.00% | $32,991.93 | $12,322.89 | $11,946.10 | $376.79 |
NikiZ628 (2): 12/23/19 $11,946.10 (3/26/18 $32,991.93)
Total Paid in 2019: $7,583.00 Total Paid Overall: $21,045.83Last update for 2019 on this loan! It was a great year as far as pay off (selling H's other truck that was on this loan as well really helped). My goal for 2020 is to have this loan under $7,500. We are getting so close to having one less car payment and I am getting very excited!!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Dec 24, 2019 9:55:48 GMT -5
Based on where I am right now financially - it doesn't seem viable for me to keep the house in retirement and that is quite a shock to my system. Not that I'm opposed to downsizing - but that it might not be a choice is a bit uncomfortable. Rukh O'Rorke it's funny that you mentioned this, because I am in the process of coming to the same conclusion, and I'm closer to retirement than you are. I haven't mentioned it to DH, and I don't plan to for a while. I KNOW DH's reaction would be "Cool! Let's sell this beautiful house with a garden so we can move into a tiny shoebox in central Paris instead!!!" In our case a lot of it has to do with having an old house that has a huge amount of "character" in a suburb with very high property taxes, and which is not energy-efficient.
#same! What are your choices for next house if you do sell the one you are in? French countryside? I'd like to be a nomad for about 5 years, travel the world, hopefully on the cheap without having to maintain a primary residence. voluntary bag lady So - I was thinking about this as we sat in front room last night. Yesterday, I applied for a job in Kansas, moving would be required, and I thought I'd be ok with that. Both kids would likely stay in Chicago or move elsewhere (not kansas!). But I figured that this kind of thing is inevitable, at some point. We had finally gotten around to our family tree trimming party.....decorating, admiring our tree, sipping vegan nog and captain morgan's, plotting the rest of the holiday season. I thought - could this be it? Is this our last Christmas in this house? And what does that mean for the future? Without even a "home" to rally back to for the holidays? My field and position are so specialized, I doubt I can find anything local. I am looking. I thought this kansas job was doable, but after feeling those pangs about the house, and then logically - I thought about myself alone in an apt in kansas, travel is 40%, who will care for the cats? It just seemed like a potentially big mistake from which there'd be no stepping back from.... It's a consulting firm, I doubt I could keep my RI clients as in that sphere it would be a conflict of interest. All in all even a relatively large salary increase would likely not result in a large take-home pay increase if I have to quit my RI clients. I'm expecting about 30k gross from RI in 2020 But on the other hand, my boss is taking on the mantle of nemesis2 - much more subtle but as my boss, I can't really fight back. Well - I could, but I sure wouldn't bet on my coming out ok on that score! I could consider stepping back out of management to change companies - that would open up more opportunities, but there would be no expectation of increasing salary in that kind of move. I could focus on trying to build up RI side income so that I could maybe quit day job in a few years time. But I've found that the RI work is pretty painful - done evenings and weekends when I'd like to relax and forget about things! Or move to kansas with a relatively large consulting company. And travel alot. Maybe I could keep the house and the cats in chicago? If the money was enough? And I'd be the one traveling home for the holidays! DDs friend could move in and this could be their residence, and I could have a room when I'm in town? But I think any increase would then be eaten up with additional living and travel expenses... I just don't know!! It's our best looking tree in years!
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Maryland Monroe
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Post by Maryland Monroe on Dec 25, 2019 14:26:39 GMT -5
Just stopping in for a quick few seconds to wish all who are celebrating a Merry Christmas!
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bankergurl
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Joined: Dec 30, 2010 17:05:10 GMT -5
Posts: 1,435
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Post by bankergurl on Dec 26, 2019 1:11:54 GMT -5
2019 Goals I went back and found my 2019 goal post:
“My only goals for 2019 are to keep breathing and not add any new debt. I am worried about medical bills for this year as we used all of our HSA funds last year (and a whole lot more too). So we are starting from scratch and will have to pay everything OOP till our deductible is met. So our only goal will be to stay on top of the medical bills and keep paying minimums.”
So we met our goals for the year. I am still here and still breathing. We did have a ton of medical bills and met our OOP Max for the year in November (ugh). I am sure we will meet it again this year as well. I’ve been trying to save HSA dollars and pay smaller medical bills OOP, but there are just too many so after this last round of medical bills gets paid we will probably end up with nothing in the HSA again to start 2020.
We did not add any new debt (goal met) and we did stay on top of our medical bills (goal met), I just need to go through the new ones from November, confirm they are correct and pay them.
Savings is higher then it was at the start of the year so that’s a win for me. I will update the debt paid off for the year once I do my last two updates for 2019 tomorrow (oh look at the time, I guess I mean later today...lol).
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bankergurl
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Post by bankergurl on Dec 26, 2019 2:20:50 GMT -5
I am behind so here is my update for 12/6/19. I will add personal notes to the next update.
Update to Race #2!!
$669.32 paid off in the last 2 weeks!!
Savings is at $17,065.00.
Celebrations for this update: -$669.32 paid off in the last 2 weeks!! -Total Debt went under the next $1000 mark for the 2nd update in a row!!
Race #1 - Banker Gurl Mortgage (Rental #2)
11/23/19 $141,400.00 (9/17/07 $250,514.73) Paidoff - $109,114.73
Debt | Interest | Start 9/17/07 | Last 10/25/19 | Current 11/23/19 | My Mortgage (Rental #2) | 3.62% | $250,514.73 | $141,775.00 | $141,400.00 |
Race #2 - Bad Debt Race
12/6/19 $31,111.33 (6/19/15 $63,603.84) Paidoff - $32,492.51
Debt | Interest | Start 6/19/15 | Last 11/23/19 | Current 12/6/19 | Student Loan | N/A | $93.97 | $0 | $0 | Payback Savings | 0% | $500.00 | $0 | $0 | David's Bridal | 0% | $275.30 | $0 | $0 | Scheel's Card | 25.24% | $929.90 | $0 | $0 | Total Rewards | 17.99% | $3,955.66 | $0 | $0 | LOC - US Bank | 21.90% | $4,994.05 | $0 | $0 | Ring - Iddeal | 9.99% | $9,334.87 | $0 | $0 | Appliances - Best Buy | 0% | $2,960.09 | $0 | $0 | Store Loan
| 2.00%
| $14,560.82
| $1,219.35
| $1,099.09
| Mom Loan #2 (HELOC) | 2.00% | $0 | $4,561.30 | $4,012.24 | Mom Loan #3 (Truck - Added 9/1/18)
| 2.00%
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$26,000.00
| $26,000.00
| $26,000.00
| Totals |
| $63,603.84 | $31,780.65 | $31,111.33
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*Mom Loan Savings Account has $3025.00 in it so total still owed is $26,987.24.
Race #3 - MO's Mortgage (Rental #1)/HELOC
11/23/19 $77,741.31 (6/19/15 $119,756.61) Paidoff - $42,015.30
Debt | Interest | Start 6/19/15 | Last 10/25/19 | Current 11/23/19 | HELOC | 3.5% | $30,324.70 | $0 | $0 | MO Mortgage (Rental #1) | 4.5% | $89,431.91 | $77,981.31 | $77,741.31 | Totals |
| $119,756.61 | $77,981.31 | $77,741.31 |
Race #4 - Our Mortgage
11/23/19 $237,247.92 (9/2/15 $270,000.00) Paidoff - $32,752.08
Debt | Interest | Start 9/2/15 | Last 10/11/19 | Current 11/23/19 | Our Mortgage | 4.125% | $270,000.00 | $237,674.05 | $237,247.92
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Yearly Progress
Date | Total Debt | 6/19/15
| $584,391.18
| 1/1/16 | $557,236.94 | 6/1/16 | $536,179.52 | 1/6/17
| $524,971.47
| 6/9/17
| $516,318.28
| 1/5/18
| $504,165.70
| 6/8/18
| $495,101.02
| 12/21/18
| $509,625.02
| 1/4/19
| $508.767.86
| 1/18/19
| $507,697.95
| 2/1/19
| $506,989.70
| 2/15/19
| $505,918.19
| 3/1/19
| $504,998.86
| 3/15/19
| $503,995.75
| 3/29/19
| $503,730.27
| 4/12/19
| $502,303.76
| 4/26/19
| $501,586.82
| 5/10/19
| $499,957.80
| 5/24/19 | $499,637.68 | 6/7/19
| $498,975.00
| 6/21/19
| $497,886.96
| 7/5/19
| $496,973.20
| 7/19/19
| $495,818.98
| 8/2/19
| $494,954.13
| 8/16/19
| $493,982.84
| 8/30/19 | $493,659.11
| 9/13/19 | $492,219.86 | 9/27/19
| $491,890.01
| 10/11/19
| $490,451.21
| 10/25/19 | $489,999.41 | 11/08/19
| $489,331.18
| 11/23/19 | $488,169.88 | 12/06/19
| $487,500.56
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*Record for going under the next $1000 mark is 9 updates in a row.
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bankergurl
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Joined: Dec 30, 2010 17:05:10 GMT -5
Posts: 1,435
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Post by bankergurl on Dec 26, 2019 2:52:59 GMT -5
I am behind so here is my update for 12/20/19.
Update to Race #1, #2, #3, and #4!!
$1189.25 paid off in the last 2 weeks!!
Here is the last update of 2019! Our debt went down $23,313.71 this year! I am very happy we were able to stay on top of our medical bills this year and not completely drain our savings.
FB Sales were madness the last few weeks of the year...it shows in my savings account as well as the tornado known as my house! I had PTO left to use up so I am off of work from 12/24 through 1/2 and am excited to get my office clean as well as get my inventory organized. I love having everything clean and organized to start the new year. I am coming down with a cold, so hoping that won't slow my plans down too much.
Hope everyone had a good Christmas holiday and also a fun and safe New Years!
Savings is at $17,065.00.
Celebrations for this update: -$1189.25 paid off in the last 2 weeks!! -Store Loan is under $1000!! -Race #2 went under the next $1000 mark!! -Race #4 went under the next $1000 mark!! -Total Debt went under the next $1000 mark for the 3rd update in a row!!
Race #1 - Banker Gurl Mortgage (Rental #2)
12/20/19 $141,000.00 (9/17/07 $250,514.73) Paidoff - $109,514.73
Debt | Interest | Start 9/17/07 | Last 11/23/19 | Current 12/20/19 | My Mortgage (Rental #2) | 3.62% | $250,514.73 | $141,400.00 | $141,000.00 |
Race #2 - Bad Debt Race
12/20/19 $31,111.33 (6/19/15 $63,603.84) Paidoff - $32,492.51
Debt | Interest | Start 6/19/15 | Last 12/6/19 | Current 12/20/19 | Student Loan | N/A | $93.97 | $0 | $0 | Payback Savings | 0% | $500.00 | $0 | $0 | David's Bridal | 0% | $275.30 | $0 | $0 | Scheel's Card | 25.24% | $929.90 | $0 | $0 | Total Rewards | 17.99% | $3,955.66 | $0 | $0 | LOC - US Bank | 21.90% | $4,994.05 | $0 | $0 | Ring - Iddeal | 9.99% | $9,334.87 | $0 | $0 | Appliances - Best Buy | 0% | $2,960.09 | $0 | $0 | Store Loan
| 2.00%
| $14,560.82
| $1,099.09
| $978.74
| Mom Loan #2 (HELOC) | 2.00% | $0 | $4,012.24 | $4,012.24 | Mom Loan #3 (Truck - Added 9/1/18)
| 2.00%
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$26,000.00
| $26,000.00
| $26,000.00
| Totals |
| $63,603.84 | $31,111.33 | $30,990.98
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*Mom Loan Savings Account has $3025.00 in it so total still owed is $26,987.24.
Race #3 - MO's Mortgage (Rental #1)/HELOC
12/20/19 $77,500.00 (6/19/15 $119,756.61) Paidoff - $42,256.61
Debt | Interest | Start 6/19/15 | Last 11/23/19 | Current 12/20/19 | HELOC | 3.5% | $30,324.70 | $0 | $0 | MO Mortgage (Rental #1) | 4.5% | $89,431.91 | $77,741.31 | $77,500.00 | Totals |
| $119,756.61 | $77,741.31 | $77,500.00 |
Race #4 - Our Mortgage
12/20/19 $236,820.33 (9/2/15 $270,000.00) Paidoff - $33,179.67
Debt | Interest | Start 9/2/15 | Last 11/23/19 | Current 12/20/19 | Our Mortgage | 4.125% | $270,000.00 | $237,247.92 | $236,820.33
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Yearly Progress
Date | Total Debt | 6/19/15
| $584,391.18
| 1/1/16 | $557,236.94 | 6/1/16 | $536,179.52 | 1/6/17
| $524,971.47
| 6/9/17
| $516,318.28
| 1/5/18
| $504,165.70
| 6/8/18
| $495,101.02
| 12/21/18
| $509,625.02
| 1/4/19
| $508.767.86
| 1/18/19
| $507,697.95
| 2/1/19
| $506,989.70
| 2/15/19
| $505,918.19
| 3/1/19
| $504,998.86
| 3/15/19
| $503,995.75
| 3/29/19
| $503,730.27
| 4/12/19
| $502,303.76
| 4/26/19
| $501,586.82
| 5/10/19
| $499,957.80
| 5/24/19 | $499,637.68 | 6/7/19
| $498,975.00
| 6/21/19
| $497,886.96
| 7/5/19
| $496,973.20
| 7/19/19
| $495,818.98
| 8/2/19
| $494,954.13
| 8/16/19
| $493,982.84
| 8/30/19 | $493,659.11
| 9/13/19 | $492,219.86 | 9/27/19
| $491,890.01
| 10/11/19
| $490,451.21
| 10/25/19 | $489,999.41 | 11/08/19
| $489,331.18
| 11/23/19 | $488,169.88 | 12/06/19
| $487,500.56
| 12/20/19
| $486,311.31
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*Record for going under the next $1000 mark is 9 updates in a row.
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bankergurl
Well-Known Member
Joined: Dec 30, 2010 17:05:10 GMT -5
Posts: 1,435
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Post by bankergurl on Dec 26, 2019 2:54:23 GMT -5
2020 Debt Goals: -Payoff medical bills as they come in -Don't add any new debt -Lower total debt by $20,000 (from $486,311.31 to $466,000, stretch goal of $465,000) -Payoff Store Loan (Current balance $978.74) -Once Store Loan is paid off, move the $100 payment per paycheck to go against Rental #1 Mortgage Principle -Payoff Mom Loan #2 (Current balance $4,012.24) -Mom Loan #2 and Mom Loan #3 are really the same loan, we just added the truck on later, so payment won't change on this, but we will be down to only having the truck balance remaining.
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Maryland Monroe
Established Member
Joined: Dec 23, 2010 16:52:51 GMT -5
Posts: 459
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Post by Maryland Monroe on Dec 26, 2019 6:20:21 GMT -5
Update: Maryland Monroe [2] 12/26/2019 $13,008.53 (1/1/2014 $93,528.61 NE113 C127)
Paid This Month: $1,143.98
Total Paid: $80,520.08 (86.09%)
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debthaven
Senior Associate
Joined: Apr 7, 2015 15:26:39 GMT -5
Posts: 10,378
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Post by debthaven on Dec 26, 2019 18:50:58 GMT -5
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Maryland Monroe
Established Member
Joined: Dec 23, 2010 16:52:51 GMT -5
Posts: 459
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Post by Maryland Monroe on Dec 26, 2019 20:29:36 GMT -5
My plan is to finish by June. If I'm not there by then, I'm raiding the emergency fund.
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nikiz628
Well-Known Member
Joined: Jun 11, 2013 17:25:59 GMT -5
Posts: 1,450
Mini-Profile Background: {"image":"","color":"4ee2dd"}
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Post by nikiz628 on Dec 27, 2019 17:12:34 GMT -5
My plan is to finish by June. If I'm not there by then, I'm raiding the emergency fund. SOOO EXCITING!!! I cannot wait for you to get this 0!
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Maryland Monroe
Established Member
Joined: Dec 23, 2010 16:52:51 GMT -5
Posts: 459
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Post by Maryland Monroe on Dec 27, 2019 20:35:26 GMT -5
My plan is to finish by June. If I'm not there by then, I'm raiding the emergency fund. SOOO EXCITING!!! I cannot wait for you to get this 0! I joined the WIRR on February 24, 2008, with four credit cards. When they were done, I started race #2 with a bank loan, car loan, and mortgage. I'm beyond excited to be this close to the end!
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steph08
Junior Associate
Joined: Jan 3, 2011 13:06:01 GMT -5
Posts: 5,459
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Post by steph08 on Dec 28, 2019 9:48:22 GMT -5
I paid off almost $17,000 in 2019 by paying off DH's big student loan and making normal payments on the truck! Woo! In 2020, I want to continue regular payments on the truck, and I am also going to add in my 0% CC. I would like to get it paid off at a faster rate, so I don't have to play the transfer game. 2020 UPDATE: steph08 [2] 12/3/2019 $16,471.36 (11/15/2016 $57,941.58 NE139) Bill (Interest Rate) | Start | Current | Normal Payoff | Big Student Loan (5.08%) | 18,337.66 | 0.00 | November 2022 | Small Student Loan (5.7%) | 4,585.95 | 0.00 | November 2022 | Truck (2.49%) | 18,995.89 | 8,912.36 | October 2021 | Van (3.6%) | 8,463.08 | 0.00 | October 2022 | CC (0%) | 7,559.00 | 7,559.00 | | TOTAL | 57,941.58 | 16,471.36 | |
Paid this update: $- Total Paid: $41,470.22 Percent Paid: 71.57%
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swordguy
Established Member
Joined: Dec 26, 2010 18:07:07 GMT -5
Posts: 446
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Post by swordguy on Dec 28, 2019 16:33:35 GMT -5
Well, we've had a major change of plans on our mortgage paydown process.
My wife and I invest in rental real estate. Part of farming our city for good properties is driving around to learn different neighborhoods. We load our daughter into the back seat, give her some French fries and sweet tea, and start learning more about our city.
We found our dream home (at a good price) and close on it mid-January.
So, temporarily, our mortgage balance will go up because we'll have two mortgages, both 15 year, fixed rate ones.
We're drawing down our savings for a sizeable down payment. We'll do the same for our new mortgage payment until our old house sells.
We're still going to pay off the HELOC in January.
We'll be selling one of our properties next year (already in the works) and the proceeds from that, ~$62,000, will go on the new mortgage.
We'll be putting our old home on the market by the end of March. Worst case it will clear $100,000, with $1,000 in additional equity for each month it takes to sell. With RMDs from our retirement accounts going towards it in 2021 and 2022, we can be debt free in Jan 2022. Best case we clear $160,000 and we pay everything off in a year. My guess is 25 months because we've got to clear $122,000 to get below 25 months.
I'll be reposting with a status update after the 1/15 closing.
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TheHaitian
Senior Associate
Joined: Jul 27, 2014 19:39:10 GMT -5
Posts: 10,144
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Post by TheHaitian on Dec 31, 2019 21:38:18 GMT -5
Quick update; paid off one of the credit cards today... will do a more formal update by Friday.
Waiting for being reimbursed for my expenses from car accident in July and just got car back from car accident a couple of weeks ago so put another $500 Deductible on the card.
Christmas was a tiny wee bit expensive but we managed I believe. Now off to my daughter birthday on 01/15.
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Minnesotagirl7
Well-Known Member
Joined: Dec 27, 2010 11:43:59 GMT -5
Posts: 1,799
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Post by Minnesotagirl7 on Dec 31, 2019 22:05:52 GMT -5
2020 Goals
1. Weight loss goal: down to target #1 by end of the year 2. Mortgage under $365,000 by end of the year 3. Make annual lump sum payment to the mortgage 4. Pay for home improvements with cash 5. Stick to my housework schedule 6. Read more (six books in 2020)
1. Trying really hard to take better care of myself in 2020. 2. This one is for the new race I will be starting in March. 3. Another goal for the new race. 4. This is a carryover from last year. We didn't have time to make improvements to the new house, so we still have the cash saved for a couple changes we want to make. 5. I would like to be better about keeping the house clean. And I typically do well with things I have a plan for. 6. I really enjoy reading, and this goes along with my overall goal of making more time for myself in 2020.
Happy New Year Racers!!
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