Maryland Monroe
Established Member
Joined: Dec 23, 2010 16:52:51 GMT -5
Posts: 459
|
Post by Maryland Monroe on Apr 9, 2020 12:27:51 GMT -5
Still have not made a solid decision about my wife and the PhD program but if she doe go we will need to figure out moving expenses, security deposit on new place (we sure as hell not going to buy another place) and everything else. I wouldn't make plans to move for Fall semester anywhere. Colleges around here are already hinting at the possibility of things still being all online then and students are worried about leases they have already signed. I agree with minnesotapaintlady. Our local public schools are even talking about opening in the fall with online classes. I wouldn't want to make an expensive move only to find out that she could have started her classes right where you already are.
|
|
nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,580
|
Post by nidena on Apr 9, 2020 12:28:52 GMT -5
An interesting detail that I noticed: my SL account is still clocking accrued interest. I've accrued 84 cents in interest since my payment yesterday. Yeah, it's nothing but shouldn't the interest be an actual nothing?
|
|
Minnesotagirl7
Well-Known Member
Joined: Dec 27, 2010 11:43:59 GMT -5
Posts: 1,793
|
Post by Minnesotagirl7 on Apr 10, 2020 10:04:55 GMT -5
Shoutouts! steph08 - Two great updates, nice work!! livinitup - Wow, fantastic update! bankergurl - Great job, looking forward to your next update! nidena - Congrats again on selling the house! Sounds like the numbers are falling into place, can’t wait to see your next update! Maryland Monroe - Congratulations once more on that big beautiful $0! Hope you’ll stick around and let us know how you’re doing. nikiz628 - Good update! Under $11k! forwardwego - Your amazing songs are just another example of the support this group provides. And you can tell from all the comments that you’ve really made an impact with them! ners - Sorry you’re behind your goal, but you’re still heading in the right direction! nooccar - Nice update! I think a lot of people are doing the same thing. Rukh O'Rorke - Numbers are still down, so that’s a win! byedebtbye - Fantastic update and congrats on the new $0! TheHaitian - Another update where the numbers went in the right direction, that’s a good thing!
|
|
Minnesotagirl7
Well-Known Member
Joined: Dec 27, 2010 11:43:59 GMT -5
Posts: 1,793
|
Post by Minnesotagirl7 on Apr 10, 2020 10:10:01 GMT -5
|
|
Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,018
|
Post by Rukh O'Rorke on Apr 10, 2020 10:15:48 GMT -5
An interesting detail that I noticed: my SL account is still clocking accrued interest. I've accrued 84 cents in interest since my payment yesterday. Yeah, it's nothing but shouldn't the interest be an actual nothing? depends on the kind of loan. 2 of mine that I consolidated a long time ago are still in repayment.
|
|
forwardwego
Well-Known Member
Joined: Dec 22, 2010 3:54:23 GMT -5
Posts: 1,395
|
Post by forwardwego on Apr 10, 2020 15:54:40 GMT -5
UPDATE Forwardwego 4/10/2020 $26,700 (11/3/2019 $38,648. C208) Dang I missed the update, but feeling good about $11K eliminated. We got the boat sold, lower than hoped but felt like the thing to do, not many people in line to buy a boat right now. After a major auto repair (new transmission) hope to have enough left of the proceeds to be in the teens, instead of twenty somethings. ETA: just realized if I send in $52 more it will be $12K eliminated.
|
|
bankergurl
Well-Known Member
Joined: Dec 30, 2010 17:05:10 GMT -5
Posts: 1,435
|
Post by bankergurl on Apr 10, 2020 17:00:40 GMT -5
Update to Race #1, #2 and #4!! $1519.89 paid off in the last 2 weeks!! WOW!
It is finally here! A ZERO!!!! Store Loan is officially paid off today! It started at $14,560.82!! As mentioned on my last update, we will now have a $300 snowball to send to Race #3 (MO's mortgage) each month. So very excited for this!
Renter #1 is behind on rent again, she is blaming the corona business....but since this is like her 4th month in a row being late on rent, I would say it is safe to say that regardless of corona she would have been late again anyways. She paid $400 of her $850 rent and hopefully she will be making payment towards the rest. I don't want her to get too far behind. But with the current world situation, we will just do our best to work with her through all of this.
Looking forward to the stimulus money which will be going to savings when it comes in.
Reselling is still going good, last weeks sales were $362.00! So people are still buying which is great. Selling lots of toys and games to keep littles that are stuck at home busy!
Doing some more home updates this weekend with getting some painting done and an extra bedroom that accidentally turned into a junk room cleaned out. Feels good to have some progress there too!
Still -0- cases of corona in our county. Fingers crossed it stays that way.
Savings is at $12,890.00 Celebrations for this update:
-$1947.17 paid off in the last 2 weeks!!! -STORE LOAN IS PAID OFF!!! -Mom Loan #2 went under the next $1000 mark!! -Total Debt went under the next $1000 mark, this is the 3rd update in a row to go below the next $1000!
Race #1 - Banker Gurl Mortgage (Rental #2)
4/10/20 $139,400.00 (9/17/07 $250,514.73) Paidoff - $111,114.73
Debt | Interest | Start 9/17/07 | Last 3/13/20 | Current 4/10/20 | My Mortgage (Rental #2) | 3.62% | $250,514.73 | $139,800.00 | $139,400.00 |
Race #2 - Bad Debt Race
4/10/20 $27,806.82 (6/19/15 $63,603.84) Paidoff - $35,797.02
Debt | Interest | Start 6/19/15 | Last 03/27/20 | Current 4/10/20 | 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
| $133.66
| $0
| Mom Loan #2 (HELOC) | 2.00% | $0 | $2,359.55 | $1,806.82 | Mom Loan #3 (Truck - Added 9/1/18)
| 2.00%
|
$26,000.00
| $26,000.00
| $26,000.00
| Totals |
| $63,603.84 | $28,493.21 | $27,806.82
|
*Mom Loan Savings Account has $3,635.00 in it so total still owed is $24,171.82.
Race #3 - MO's Mortgage (Rental #1)/HELOC
3/27/20 $76,850.00 (6/19/15 $119,756.61) Paidoff - $42,906.61
Debt | Interest | Start 6/19/15 | Last 2/28/20 | Current 03/27/20 | HELOC | 3.5% | $30,324.70 | $0 | $0 | MO Mortgage (Rental #1) | 4.5% | $89,431.91 | $77,156.28 | $76,850.00 | Totals |
| $119,756.61 | $77,156.28 | $76,850.00 |
Race #4 - Our Mortgage
4/10/20 $235,095.22 (9/2/15 $270,000.00) Paidoff - $34,904.78
Debt | Interest | Start 9/2/15 | Last 3/13/20 | Current 4/10/20 | Our Mortgage | 4.125% | $270,000.00 | $235,528.72 | $235,095.22
|
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
| 1/4/19
| $508.767.86
| 6/21/19
| $497,886.96
| 12/20/19
| $486,311.31
| 1/3/20 | $485,706.29 | 1/17/20
| $484,756.69
| 1/31/20
| $484,426.93
| 2/14/20
| $482,924.76
| 2/28/20
| $482,603.94
| 3/13/20
| $481,099.21
| 3/27/20
| $480,671.93
| 4/10/20
| $479,152.04
|
*Record for going under the next $1000 mark is 9 updates in a row.
|
|
nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,580
|
Post by nidena on Apr 10, 2020 18:06:49 GMT -5
An interesting detail that I noticed: my SL account is still clocking accrued interest. I've accrued 84 cents in interest since my payment yesterday. Yeah, it's nothing but shouldn't the interest be an actual nothing? depends on the kind of loan. 2 of mine that I consolidated a long time ago are still in repayment. It's a virgin SL. Just started repaying back in Dec. No consolidation whatsoever. I don't anticipate even doing so since they'll be paid off within the next year or so.
|
|
Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,018
|
Post by Rukh O'Rorke on Apr 10, 2020 18:37:40 GMT -5
are they federal or private? contact the lender about it if federal. privates don't count.
|
|
nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,580
|
Post by nidena on Apr 11, 2020 12:13:47 GMT -5
are they federal or private? contact the lender about it if federal. privates don't count. We'll see what they say.
|
|
nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,580
|
Post by nidena on Apr 11, 2020 15:07:57 GMT -5
bankergurl , I think putting it in savings defeats the purpose of "stimulus". lol I'll be doing the same thing with most funds that I receive once the CC is paid off. UPDATE:nidena: 4/11/2020 $34,716.98 (8/22/2007 $223,361.20 N453,503,NE648,NPT25)Definitely the lowest balance that I've had since I started racing back in 2007. I may not want to get another mortgage. jk. Time to really focus on savings and investing now. Anyone worked with Ellevest?
|
|
movinonup
Established Member
Joined: Feb 7, 2013 7:44:03 GMT -5
Posts: 318
|
Post by movinonup on Apr 12, 2020 13:18:45 GMT -5
update - movinonup: 04/01/2020 $231,980.48 (02/12/2013 $309,217.65 NE100) NYAccount | Standard Interest Rate
| Monthly Interest
| 02/12/2013
| 02/12/2019 | 04/01/2020 | Balance Reduction Since Last Update
| Total Balance Reduced
| Percentage Reduced
| LOC | 18.24% | $83.84 | $3,500.00 | $0.00 | $0.00 | $0.00 | $3,500.00 | 100.00% | CC#1 | 18.99% | $0.00
| $20,688.08
| $13.50 | $0.00 | $13.50 | $20,688.08 | 100.00%
| CC#2 | 16.99% | $43.08 | $(8.16)
| $4,025.53 | $2,843.08 | $1,182.45 | $(2,851.24) | (34,941.67)%
| CC#3 | 19.99% | $0.00 | $10,300.00
| $0.00 | $694.82 | $(694.82 | $9,605.18
| 100.00%
| CC#4 | 16.99%
| $68.45 | $9,135.05
| $4,700.00 | $4,367.89 | $332.11 | $4,767.16
| 52.19% | CC#5 | 10.99% | $0.00 | $4,910.22
| $936.91 | $0.00 | $936.91 | $4,910.22
| 100.00%
| CC#6 | 0.00% | $0.00 | $1,239.00 | $0.00 | $0.00
| $0.00 | $1,239.00 | 100.00% | CC#7 | 20.99% | $0.00 | $0.00 | $0.00 | $0.00
| $0.00 | $0.00 | 0.00% | SL#1 | 3.50% | $23.58 | $23,021.50
| $10,552.37 | $8,319.79 | $2,232.58 | $14,701.71 | 63.86%
| SL#2 | 6.80% | $0.00 | $4,748.54
| $0.00 | $0.00 | $0.00 | $4,748.54
| 100.00%
| SL#3 | 6.55% | $0.00 | $2,533.57
| $0.00 | $0.00 | $0.00 | $2,533.57
| 100.00% | MTG | 3.875% | $637.97 | $220,170.76 | $202,622.34 | $197,133.77 | $5,488.57 | $23,036.99
| 10.46%
| Auto
| 4.24%
| $0.00
| $8,979.09
| $0.00
| $0.00 | $0.00
| $8,979.09
| 100.00%
| HELOC | 2.25% | $67.82 | $0.00 | $19,346.81 | $18,621.13 | $725.68 | $(18,621.13) | 0.00% | Total
|
| $924.74
| $309,217.65
| $242,197.46 | $231,980.48 | $10,216.98 | $77,237.17 | 24.98%
|
EF = $86.19 I can't believe that I haven't posted in over a year! I'm plugging along, trying to pay down what I can. Oh, and I did something blatantly stupid. We are putting a big addition on our house. Unfortunately, because of social distancing rules, we can only have one person working on the house at a time now. Obviously, this is going to take longer than we anticipated. Thankfully our windows and roof were installed before they made us cut back to one worker. I'm just hoping that I get to move back into my house one of these days. I hope everyone is safe and healthy. -movinonup
|
|
ners
Junior Associate
Joined: Dec 23, 2010 16:21:18 GMT -5
Posts: 6,481
|
Post by ners on Apr 14, 2020 17:25:47 GMT -5
Update Race 1
69,804.60 (1/3/2011 $97,382.42 MPT5)
243.99 paid this month
This is just making the minimum payment as I am trying to hoard cash with all the uncertainty.
|
|
idlechatter
Initiate Member
Joined: Sept 7, 2013 15:12:54 GMT -5
Posts: 70
|
Post by idlechatter on Apr 14, 2020 22:44:29 GMT -5
Not much to report. I've officially been home for almost 6 weeks and our stay at home orders were extended to May 20. I've been able to cut expenses a bit and was planning on saving every penny but now that interest on my student loans has finally been suspended I'm considering using $250 of that to pay extra down on Student Loan#C (the big one!) so when interest kicks back on in September, it'll be accruing much less. Not to mention, come February (if I still have a job) I'll be using much less of my bonus (if it exists) to pay both of them off completely. I know how fortunate I am right now that things are so secure for me and it's not lost on me at all. I'm also not sure how long it will last. But I also know many people are not as fortunate. I am sending everyone here good thoughts for getting by and staying healthy. April Summary• April debt paydown of $2,150! • Total debt under $26K! GOAL MET!!!• 11 months credit card debt free! (I think this is my longest streak since I joined the boards in...2007?) 2020 Goals• Under $26K by December 2020 update. (met April 2020!)• Reach 75% paid off by December 2020. • Reach 60% paid off since WIRR start by December 2020. (met February 2020!) • Pay off another student loan by December 2020. (met February 2020 x2!) • Reduce SL#B and SL#D to <$2,750 by Dec 31 20. (met and PAID OFF February 2020!) • Reduce Auto loan to <$4.5K by Dec 31 20. idlechatter (2) 4/15/2020 $25,983.31 (12/13/2017 $71,083.09 C165) Debt | Interest Rate | Starting Debt | WIRR Start 12/13/2017 | 4/15/2020 | Difference from WIRR Start | Total Difference | CC#1a | - | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | CC#1b | 0.00% | $4,846.31 | $4,846.31 | $0.00 | -$4,846.31 | -$4,846.31 | CC#2 | 18.92% | $1,592.09 | $1,592.09 | $0.00 | -$1,592.09 | -$1,592.09 | SL#A | 6.80% | $3,024.00 | $640.37 | $0.00 | -$640.37 | -$3,024.00 | SL#B | 6.80% | $8,400.00 | $5,465.90 | $0.00 | -$5,465.90 | -$8,400.00 | SL#C | 6.80% | $31,822.91 | $21,424.73 | $13,694.99 | -$7,729.74 | -$18,127.92 | SL#D | 6.80% | $8,400.00 | $5,596.11 | $0.00 | -$5,596.11 | -$8,400.00 | SL#E | 6.80% | $11,370.48 | $8,723.05 | $5,625.44 | -$3,097.61 | -$5,745.04 | SL#6 | 6.55% | $6,581.00 | $2,926.35 | $0.00 | -$2,926.35 | -$6,581.00 | Auto | 1.90% | $19,036.80 | $15,864.00 | $6,662.88 | -$9,201.12 | -$12,373.92 | Moto | 7.99% | $4,384.14 | $4,004.18 | $0.00 | -$4,004.18 | -$4,384.14 | Total | | $99,457.73 | $71,083.09 | $25,983.31 | -$45,099.78 | -$73,474.42 |
|
|
nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,580
|
Post by nidena on Apr 14, 2020 23:15:25 GMT -5
are they federal or private? contact the lender about it if federal. privates don't count. Well, I never heard from them BUT the accrued interest now shows $0 so they must have just had to reset a counter.
|
|
movinonup
Established Member
Joined: Feb 7, 2013 7:44:03 GMT -5
Posts: 318
|
Post by movinonup on Apr 15, 2020 17:06:42 GMT -5
This is just making the minimum payment as I am trying to hoard cash with all the uncertainty. I think this is a good move. Way too much uncertainty. -movinonup
|
|
Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,018
|
Post by Rukh O'Rorke on Apr 18, 2020 9:07:33 GMT -5
Not much to report. I've officially been home for almost 6 weeks and our stay at home orders were extended to May 20. I've been able to cut expenses a bit and was planning on saving every penny but now that interest on my student loans has finally been suspended I'm considering using $250 of that to pay extra down on Student Loan#C (the big one!) so when interest kicks back on in September, it'll be accruing much less. Not to mention, come February (if I still have a job) I'll be using much less of my bonus (if it exists) to pay both of them off completely. I know how fortunate I am right now that things are so secure for me and it's not lost on me at all. I'm also not sure how long it will last. But I also know many people are not as fortunate. I am sending everyone here good thoughts for getting by and staying healthy. April Summary• April debt paydown of $2,150! • Total debt under $26K! GOAL MET!!!• 11 months credit card debt free! (I think this is my longest streak since I joined the boards in...2007?) 2020 Goals• Under $26K by December 2020 update. (met April 2020!)• Reach 75% paid off by December 2020. • Reach 60% paid off since WIRR start by December 2020. (met February 2020!) • Pay off another student loan by December 2020. (met February 2020 x2!) • Reduce SL#B and SL#D to <$2,750 by Dec 31 20. (met and PAID OFF February 2020!) • Reduce Auto loan to <$4.5K by Dec 31 20. idlechatter (2) 4/15/2020 $25,983.31 (12/13/2017 $71,083.09 C165) Debt | Interest Rate | Starting Debt | WIRR Start 12/13/2017 | 4/15/2020 | Difference from WIRR Start | Total Difference | CC#1a | - | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | CC#1b | 0.00% | $4,846.31 | $4,846.31 | $0.00 | -$4,846.31 | -$4,846.31 | CC#2 | 18.92% | $1,592.09 | $1,592.09 | $0.00 | -$1,592.09 | -$1,592.09 | SL#A | 6.80% | $3,024.00 | $640.37 | $0.00 | -$640.37 | -$3,024.00 | SL#B | 6.80% | $8,400.00 | $5,465.90 | $0.00 | -$5,465.90 | -$8,400.00 | SL#C | 6.80% | $31,822.91 | $21,424.73 | $13,694.99 | -$7,729.74 | -$18,127.92 | SL#D | 6.80% | $8,400.00 | $5,596.11 | $0.00 | -$5,596.11 | -$8,400.00 | SL#E | 6.80% | $11,370.48 | $8,723.05 | $5,625.44 | -$3,097.61 | -$5,745.04 | SL#6 | 6.55% | $6,581.00 | $2,926.35 | $0.00 | -$2,926.35 | -$6,581.00 | Auto | 1.90% | $19,036.80 | $15,864.00 | $6,662.88 | -$9,201.12 | -$12,373.92 | Moto | 7.99% | $4,384.14 | $4,004.18 | $0.00 | -$4,004.18 | -$4,384.14 | Total | | $99,457.73 | $71,083.09 | $25,983.31 | -$45,099.78 | -$73,474.42 |
you've done such a fantastic job in just over 2 years! I'm similarly a bit torn on how to best take advantage of the 0% interest rates. And everything also depending on continued employment - which is such a wildcard right now. I'm inclined, as is ners, to hoard cash. Particularly with student loans at 0% - there is no downside to putting the money into a moneymarket account and waiting to see how everything pans out. The 0% might even be extended.
|
|
nikiz628
Well-Known Member
Joined: Jun 11, 2013 17:25:59 GMT -5
Posts: 1,439
Mini-Profile Background: {"image":"","color":"4ee2dd"}
|
Post by nikiz628 on Apr 18, 2020 21:32:15 GMT -5
UPDATE: Race #4 4/18/2020RACE #4 | INTEREST RATE | STARTING BALANCE | LAST UPDATE | THIS UPDATE | DIFFERENCE | Truck Loan | 4.8% | $24.945.53 | $22,937.22 | $22,651.74 | -285.48 |
NikiZ628(4) 4/18/2020 $22,651.74 (6/26/19 $25,195 WIRR197)
Total Paid in 2020: $1,174.59 Total Amount Paid Off: $2,543.26
|
|
swordguy
Established Member
Joined: Dec 26, 2010 18:07:07 GMT -5
Posts: 446
|
Post by swordguy on Apr 18, 2020 21:51:23 GMT -5
Race # | Description | Update Date | Current Amt | Race Start Date | Race Start Amt | 1st Page # | Change | Notes | 2 | HELOC | 2/2/2020 | $ 0 | 11/20/2019 | $ 15,000 | WIRR209 | 0 | Funding Renovations on Houses #6 and #7 | 3 | Mortgage | 4/18/2020 | $139,903 | 11/20/2019 | $145,890 | WIRR209 | -1022 | Mortgage for old House | 4 | Mortgage | 4/18/2020 | $226,045 | 1/16/2020 | $230,000 | WIRR215 | -1014 | Mortgage for new House |
Next payments aren't due until July 1st. I like to be about 2 payments ahead so if we have a sudden big expense, we can just hold off on paying early. Right now we're 1 1/2 months ahead. In another 2 months we'll be 2 months ahead. That way, we've got $4,200 x 2 months we can absorb without having to withdraw funds from the market. Have to go over Monday and check on the repair status of our old house. Paint, fixing a couple doors, etc. Mostly little stuff but it adds up in time. I expect there will still be a few things to do. We have a family friend who is interested in purchasing our old house and will be viewing it on Wednesday before it goes on the market. I'll take a slightly lower price for a sure thing. Wish us luck! The interior of our rental that was trashed by the pig tenants has been repaired. Still have some minor outdoor repairs to be made. Rather than rent it out we're letting a couple of medical workers stay in it for free so they don't infect their families. Hopefully this covid-19 mess will be manageable in a few months and they can go home to their families. If not, that's ok. We'll just pay our mortgages off a bit slower. SwordGuy (2) 2/2/2020 $0 (11/20/19 $15,000 WIRR209)SwordGuy (3) 4/18/2020 $139,903 (11/20/19 $145,890 WIRR209)
SwordGuy (4) 4/18/2020 $226,045 (1/16/20 $230,000 WIRR215)Hope you are all doing well and stay safe. So far, so good for us.
|
|
seriousthistime
Senior Member
Joined: Dec 22, 2010 20:27:07 GMT -5
Posts: 4,696
|
Post by seriousthistime on Apr 19, 2020 13:34:47 GMT -5
The interior of our rental that was trashed by the pig tenants has been repaired. Still have some minor outdoor repairs to be made. Rather than rent it out we're letting a couple of medical workers stay in it for free so they don't infect their families. Hopefully this covid-19 mess will be manageable in a few months and they can go home to their families. If not, that's ok. We'll just pay our mortgages off a bit slower.Hope you are all doing well and stay safe. So far, so good for us. What a refreshing and generous thing to do, swordguy. It is such a contrast to the self-centered attitude of some people who are protesting over the restrictions being imposed on them. Thank you for this act of kindness.
|
|
Deleted
Joined: Apr 19, 2024 23:11:13 GMT -5
Posts: 0
|
Post by Deleted on Apr 21, 2020 22:48:32 GMT -5
See you later, kid portion of the stimulus payment.... MPL 1/20/2020 - $8,057 MPL 2/6/20 - $6,057 MPL 2/25/20 - $4500 MPL 3/18/20 - $4000 MPL 4/21/20 - $3500
|
|
nikiz628
Well-Known Member
Joined: Jun 11, 2013 17:25:59 GMT -5
Posts: 1,439
Mini-Profile Background: {"image":"","color":"4ee2dd"}
|
Post by nikiz628 on Apr 22, 2020 9:38:12 GMT -5
UPDATE: Race #2
Race #2 | INTEREST | ORIGINAL | LAST UDPATE | THIS UPDATE | DIFFERENCE | Auto Loan (SUV) | 4.00% | $32,991.93 | $10,805.70 | $10,418.85 | -386.85 |
NikiZ628 (2): 4/22/20 $10,418.85 (3/26/18 $32,991.93)
Total Paid in 2020: $1,527.25 Total Paid Overall: $22,573.08*My goal for 2020 is to get this loan under $7,500.....
|
|
Minnesotagirl7
Well-Known Member
Joined: Dec 27, 2010 11:43:59 GMT -5
Posts: 1,793
|
Post by Minnesotagirl7 on Apr 22, 2020 11:32:59 GMT -5
Hello Racers! I'll be doing updates Friday morning. So if you have some new numbers to share, please do so before then!
|
|
chicg
Familiar Member
Joined: Dec 27, 2010 15:55:49 GMT -5
Posts: 742
|
Post by chicg on Apr 22, 2020 12:54:25 GMT -5
Update Chicg [2] -4/22/20, $10,327 (11/7/14, 4217.34 MPT266)
Citi 10,327
Only $561 improved from last post but this includes the increase from balance transfer fees. I'm also a little inclined to hoard cash right now as my job security isn't great (grateful to be employed at the moment though, but not sure how long it will last and not sure what/if any severance would be offered given the situation). The company has already stopped 401K matching contributions for the remainder of the year and executive bonuses and merit increases for the year. I put a few hundred from the stimulus in savings and made some payments to my new cc following a balance transfer, so the transfer fees are paid off. I did support a few local business with puzzle purchases and a friend's bday gift : ) I'm down to one card which is nice, the promo deal on Discover was ending and I should have never been carrying such a big balance on that Chase card, i have 0% on this Citi card until February. I'm spending SO MUCH on grocery delivery. I have been staying home (and don't have a car and not walking home with a big haul) so I've been getting delivery every 10 days and the extra fees and expensive replacement items are eating up money from other areas that I'm saving in, like going out and UBER/bus fare. I don't keep "stock up" type items at home so I had to spend some extra initially getting some canned goods, extra cleaning supplies, sanitizer/wipes, etc.
Question - thoughts on reducing 401K contributions? I know rules of stocks say it's best to buy now, but with uncertain job security, is that money better being diverted to the bank? I wouldn't reallocate or pull money out, just reduce contributions temporarily, maybe from 10% to 5%? The company has already stopped matching contributions so overall contributions are already about 50% less and will be for the calendar year.
Congrats to all the recent winners!
|
|
nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,580
|
Post by nidena on Apr 22, 2020 12:54:40 GMT -5
Did not realize this but cash advances accrue interest like student loans: daily. I paid off the AmEx two weeks ago. When I received the statement, last week, I saw interest charges for $7.66 which puzzled me. Further perusal of the statement showed it was for a cash advance I did in March--which is fun "avoiding fees" story in which Paypal was going to charge me $40 to pay with my CC or charge me nothing to pay using my checking account so I did the cash advance from my AmEx to the my checking account. Anyhow, not knowing that interest accrues daily for CAs, I called the bank today and asked them to reverse it. She very nicely explained what I didn't know but also did the reversal. So, in a nutshell: avoid CAs when you can AND, when using paypal, always "pay a friend" rather than a company and always pay using your checking account. lol. In other news, my CC debt is only $2600. A month ago, it was $23,000 spread across two cards. I'm am SO SO SO thankful to have sold my house. And that stimulus check? I donated some to Vets2Industry, some to Joyful Heart Foundation, and some to Free the Girls. I also sent some "coffee funds" to one friend and some "supper funds" to another. The remaining $300 is chilling in my checking account.
|
|
swordguy
Established Member
Joined: Dec 26, 2010 18:07:07 GMT -5
Posts: 446
|
Post by swordguy on Apr 22, 2020 18:46:54 GMT -5
We've gotten some of the work done (as in hired out) to fix up our old house for sale. Went over to take a look at it and it looks way better than it did two weeks ago. We've had two sale prices in mind for the house. The "before-we-fix-every-little-thing-up-perfect" price and the "after" price. I learned a few weeks ago that some family friends were starting to house hunt. Went over the house with them today and they told me they would have their realtor send me an offer. So, hopefully, in 30-45 days the mortgage on our old house will be zeroed out and the mortgage on the new house will be $100K+ (44+%) lower! Wish us luck for a reasonable VA inspector and the usual vaguely competent mortgage processing staff!
|
|
idlechatter
Initiate Member
Joined: Sept 7, 2013 15:12:54 GMT -5
Posts: 70
|
Post by idlechatter on Apr 22, 2020 23:44:05 GMT -5
you've done such a fantastic job in just over 2 years! I'm similarly a bit torn on how to best take advantage of the 0% interest rates. And everything also depending on continued employment - which is such a wildcard right now. I'm inclined, as is ners, to hoard cash. Particularly with student loans at 0% - there is no downside to putting the money into a moneymarket account and waiting to see how everything pans out. The 0% might even be extended. Rukh O'Rorke Thank you so much!! It feels good to see the progress - a little bit of luck and hard work with the job situation helped out A LOT. And really prioritizing my debt paydown. And being a homebody and not much of a shopper too. Right after I posted I thought through it a little more and I think I came to the same conclusion as you. I think I warned everybody here in March to start hoarding cash and I should be taking my own advice! Some of that extra $350 ($250 of it) I'm trying to squeeze out each month from being home is going to go straight to a separate savings account with the existing $750 student loan payment until September while I'm not obligated to make payments. That'll give me an extra $5,625 in cash for now just in case or to pay them down at once when the forebearance expires. Still going to prioritize the bigger loan to reduce interest when it kicks back in unless the interest free/forebearance period is extended. If it's extended for a meaningful period of time, I'm going to keep trying to pay/save $1000 instead of $750 and pay off the whole small one and put whatever is left over to the big one. Either way it would bring the total down to $8,000. If the job holds out until February, it'll mean I use less of any bonus I may get (not optimistic about this part given the current state of affairs) to pay it off completely. SO DARN CLOSE.
|
|
forwardwego
Well-Known Member
Joined: Dec 22, 2010 3:54:23 GMT -5
Posts: 1,395
|
Post by forwardwego on Apr 23, 2020 7:32:13 GMT -5
UPDATE Forwardwego 4/24/2020 $19,000 (11/3/2019 $38,648. C208) We got the boat sold, lower than hoped but felt like the thing to do, not many people in line to buy a boat right now. That plus skimming a little off of savings allowed us to go to the teens, and added psychological benefit of achieving @51%. The second half will take a lot longer because all possible chunks have been applied and now it's down to whatever bit I can add to the monthly payment. As many Racers and Savers have discussed, I will give more attention to savings for now, and when things have levelled shift focus to debt elimination. Minnesotagirl7 Thanks for the advance notice for getting in the updates. TDBank hasn't yet posted my new balance, but the payment cleared my bank so I think that's good enough to post. Thanks for the super motivating updates and shoutouts!
|
|
Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,018
|
Post by Rukh O'Rorke on Apr 23, 2020 8:21:21 GMT -5
Update Chicg [2] -4/22/20, $10,327 (11/7/14, 4217.34 MPT266) Citi 10,327 Only $561 improved from last post but this includes the increase from balance transfer fees. I'm also a little inclined to hoard cash right now as my job security isn't great (grateful to be employed at the moment though, but not sure how long it will last and not sure what/if any severance would be offered given the situation). The company has already stopped 401K matching contributions for the remainder of the year and executive bonuses and merit increases for the year. I put a few hundred from the stimulus in savings and made some payments to my new cc following a balance transfer, so the transfer fees are paid off. I did support a few local business with puzzle purchases and a friend's bday gift : ) I'm down to one card which is nice, the promo deal on Discover was ending and I should have never been carrying such a big balance on that Chase card, i have 0% on this Citi card until February. I'm spending SO MUCH on grocery delivery. I have been staying home (and don't have a car and not walking home with a big haul) so I've been getting delivery every 10 days and the extra fees and expensive replacement items are eating up money from other areas that I'm saving in, like going out and UBER/bus fare. I don't keep "stock up" type items at home so I had to spend some extra initially getting some canned goods, extra cleaning supplies, sanitizer/wipes, etc. Question - thoughts on reducing 401K contributions? I know rules of stocks say it's best to buy now, but with uncertain job security, is that money better being diverted to the bank? I wouldn't reallocate or pull money out, just reduce contributions temporarily, maybe from 10% to 5%? The company has already stopped matching contributions so overall contributions are already about 50% less and will be for the calendar year. Congrats to all the recent winners! Consider your current EF - what you might get from UI and your UI amount coverage of monthly bills.
|
|
Minnesotagirl7
Well-Known Member
Joined: Dec 27, 2010 11:43:59 GMT -5
Posts: 1,793
|
Post by Minnesotagirl7 on Apr 23, 2020 13:04:20 GMT -5
|
|