movinonup
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Posts: 318
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Post by movinonup on Aug 10, 2021 19:22:18 GMT -5
update - movinonup: 08/01/2021 $585,093.82 (02/12/2013 $309,217.65 NE100) NYAccount | Standard Interest Rate
| Monthly Interest
| 02/12/2013
| 07/01/2020 | 08/01/2021 | Balance Reduction Since Last Update
| Total Balance Reduced
| Percentage Reduced
| LOC | 18.24% | $0.00 | $3,500.00 | $0.00 | $0.00 | $0.00 | $3,500.00 | 100.00% | CC#1 | 18.99% | $0.00
| $20,688.08
| $22,600.00 | $22,600.00 | $0.00 | $(1,911.92) | (9.24)%
| CC#2 | 16.99% | $0.00 | $(8.16)
| $1,421.39 | $108.97 | $1,312.42 | $(117.13) | (1,435.42)%
| CC#3 | 19.99% | $98.30 | $10,300.00
| $6,874.24 | $6,644.00 | $230.24 | $3,656.00
| 35.50%
| CC#4 | 16.99%
| $48.25 | $9,135.05
| $3,476.88 | $3,401.36 | $75.52 | $5,733.69
| 62.77% | CC#5 | 10.99% | $0.00 | $4,910.22
| $353.76 | $164.43 | $189.33 | $4,745.79
| 96.65%
| CC#6 | 0.00% | $0.00 | $1,239.00 | $4,064.17 | $3,814.17
| $250.00 | $(2,575.17) | (207.84)% | CC#7 | 20.99% | $0.00 | $0.00 | $3,146.45 | $3,036.90
| $109.55 | $(3,036.90) | 0.00% | CC#8 | 22.99% | $0.00 | $0.00 | $723.08 | $573.08 | $150.00 | $(573.08) | 0.00% | SL#1 | 3.50% | $16.76 | $23,021.50
| $5,828.17 | $5,657.89 | $170.28 | $17,363.61 | 75.42%
| 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% | $616.64 | $220,170.76 | $196,106.66 | $539,093.02 | $(342,986.36) | $(318,922.26)
| -144.85%
| Auto
| 4.24%
| $0.00
| $8,979.09
| $0.00
| $0.00 | $0.00
| $8,979.09
| 100.00%
| HELOC | 2.25% | $0.00 | $0.00 | $18,051.20 | $0.00 | $18,051.20 | $0.00 | 0.00% | Total
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| $779.95
| $309,217.65
| $262,646.00 | $585,093.82 | $(332,447.82) | $(275,876.17) | -89.22%
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EF = $223,812.84 It is amusing that for a very short time (a day or two), I technically owed over $1,000,000 at the end of July. I refinanced my mortgage now that I am getting close to the end of my construction project. The closing agent paid off my HELOC, old mortgage, and some CC debt with mortgage proceeds, but there was a small delay in the payments posting. I have punch list items that need to get done, so there is a lot of cash sitting in my emergency fund. When the day comes that I have to pay my contractor, the emergency fund will be significantly spent down. I should be able to pay off some of the CCs soon. I bought some furniture for the house and have a trip to move my son to school. I want to be able to pay off the furniture and trip right away, so I don't want to just pay the cards all off only to end up with a new balance. -movinonup
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nikiz628
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Post by nikiz628 on Aug 12, 2021 15:30:54 GMT -5
I signed up to substitute teach in my kids' school corporation (I only plan to pick up openings at their actual school). I just snagged my first full day shift for next week for 4th grade. It pays $70 a day (pre tax). I plan to use all $$ earned from this to strictly pay down debt. It's kind of an exciting new way to race.
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Maryland Monroe
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Post by Maryland Monroe on Aug 12, 2021 21:26:37 GMT -5
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nikiz628
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Post by nikiz628 on Aug 13, 2021 18:58:55 GMT -5
I picked up my first 2 full day shifts this week so I hope I love it!
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nikiz628
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Post by nikiz628 on Aug 17, 2021 18:37:11 GMT -5
UPDATE RACE #2
RACE #2 | INTEREST | STARTING BALANCE | LAST UPDATE | THIS UPDATE | DIFFERENCE | Auto Loan (SUV) | 4.00% | $32,991.93 | $4,902.00 | $4,096.27 | -805.73 |
NikiZ628 (2): 8/17/2021 $4,096.27 (3/26/18 $32,991.93)
Total Paid in 2021: $3,205.34 Total Paid Overall: $28,895.66
Inching closer to my 2021 goal of having this loan under $2,700!
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ners
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Post by ners on Aug 17, 2021 18:40:59 GMT -5
Update Race 1
65080.61 (1/3/2011 $97,382.42 MPT5)
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steph08
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Post by steph08 on Aug 17, 2021 20:32:38 GMT -5
UPDATE: steph08 [2] 8/17/2021 $- (11/15/2016 $57,941.58 NE139) Bill (Interest Rate) | Start | Previous | Current | Difference | Normal Payoff | Monthly Payment | Big Student Loan (5.08%) | 18,337.66 | 0.00 | 0.00 | - | November 2022 | $298.59 | Small Student Loan (5.7%) | 4,585.95 | 0.00 | 0.00 | - | November 2022 | $81.81 | Truck (2.49%) | 18,995.89 | - | 0.00 | - | October 2021 | $416.19 | Van (3.6%) | 8,463.08 | 0.00 | 0.00 | - | October 2022 | $154.49 | CC (0%) | 7,559.00 | 1,331.00 | 0.00 | 1,331.00 | | $76.00 | TOTAL | 57,941.58 | 1,331.00 | 0.00 | 1,331.00 | | $1,027.08 |
Paid this update: $1,331.00 Total Paid: $57,941.58 Percent Paid: 100.00% I got tired of that last bit, so I just cancelled it out! So, this race is complete! I do have a 0% Lowe's card that I'm working on, but I have more than enough in savings to pay that off when the time comes. I'm also in the process of refinancing our mortgage to 1.75%, so I will be in no hurry to pay that off. So, until I give in and buy a new car (really trying to wait until the microchip shortage gets straightened out and lack of inventory stops driving up prices), I'm done racing for a bit!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Aug 17, 2021 21:47:41 GMT -5
UPDATE: steph08 [2] 8/17/2021 $- (11/15/2016 $57,941.58 NE139) Bill (Interest Rate) | Start | Previous | Current | Difference | Normal Payoff | Monthly Payment | Big Student Loan (5.08%) | 18,337.66 | 0.00 | 0.00 | - | November 2022 | $298.59 | Small Student Loan (5.7%) | 4,585.95 | 0.00 | 0.00 | - | November 2022 | $81.81 | Truck (2.49%) | 18,995.89 | - | 0.00 | - | October 2021 | $416.19 | Van (3.6%) | 8,463.08 | 0.00 | 0.00 | - | October 2022 | $154.49 | CC (0%) | 7,559.00 | 1,331.00 | 0.00 | 1,331.00 | | $76.00 | TOTAL | 57,941.58 | 1,331.00 | 0.00 | 1,331.00 | | $1,027.08 |
Paid this update: $1,331.00 Total Paid: $57,941.58 Percent Paid: 100.00% I got tired of that last bit, so I just cancelled it out! So, this race is complete! I do have a 0% Lowe's card that I'm working on, but I have more than enough in savings to pay that off when the time comes. I'm also in the process of refinancing our mortgage to 1.75%, so I will be in no hurry to pay that off. So, until I give in and buy a new car (really trying to wait until the microchip shortage gets straightened out and lack of inventory stops driving up prices), I'm done racing for a bit!
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Minnesotagirl7
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Post by Minnesotagirl7 on Aug 18, 2021 9:11:50 GMT -5
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Maryland Monroe
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Post by Maryland Monroe on Aug 18, 2021 13:30:17 GMT -5
Congratulations, steph08!
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chiver78
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Post by chiver78 on Aug 18, 2021 15:04:32 GMT -5
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ners
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Post by ners on Aug 18, 2021 19:56:24 GMT -5
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muffyinthered
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Post by muffyinthered on Aug 19, 2021 10:02:53 GMT -5
Congrats steph08 We will miss you!
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nikiz628
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Post by nikiz628 on Aug 19, 2021 16:58:42 GMT -5
Congratulations steph08!!! That's a BE-A-UTIFUL zero!!!!
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chiver78
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Post by chiver78 on Aug 20, 2021 7:46:04 GMT -5
hi all. today's a big day for me. my original start date with WIRR was 8/20/2008. I had paid down enough to get into the $5500 Club (is that still a thing...? idk) before I bought my last house and things went sideways. when I re-started my race with a 6-digit number, I said y'all would hear me cheering from the rooftops when I ever made it back to my original starting total. so, let's hear it! during this past month, my annual bonuses hit and I was able to put big chunks toward the first balance. when I saw how close I was to my original start, I paid another random dollar amount to Discover to hit it on the nose. I kept a bunch of bonus money to cash flow the current set of house projects, but I am happy to say that I've planned out the rest of 2021 and the first Discover will be gone before the rate resets in January. I might take a hit on some of the next card, but I'm in incredible shape with the rest of this race. last time around, it took about 6y to pay down $40k with my salary at the time. I'll blow that away this time, and <fingers crossed to not jinx myself> NEVER AGAIN! creditor | start | previous | today | Discover #1 | $16,553.65 | $17,188.70 | $8,376.41 | Discover #2 | $14,278.26 | $5,247.26 | $4,840.15 | 1st National | $24,168.63 | $18,815.46 | $18,296.60 | BofA #1 | $11,813.71 | $14,122.99
| $13,838.98 | BofA #2 | $7,820.39 | $0 | $0 | SMCU | $11,958.93 | $0 | $0 | American Express | $12,520.02 | $0 | $0 | Chase | $9586.41 | $0 | $0 | Citi #1 | $12,826.10 | $0 | $0 | Citi #2 | $4,394.29 | $0 | $0 | BCU | $12,304.92 | $0 | $0 | total | $138,495.31 | $55,374.41 | $45,152.97 |
chiver78 8/20/21 $45,152.97 (5/9/20 $138,495.31)
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Minnesotagirl7
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Post by Minnesotagirl7 on Aug 20, 2021 8:09:47 GMT -5
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TheOtherMe
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Post by TheOtherMe on Aug 20, 2021 8:10:53 GMT -5
chiver78 You are making progress and yes on the NEVER AGAIN. That is what I finally figured out and 11 months out of 12 I can pay off my cards in full. I have about $2K a month to play with after house payment, utilities and transfers to savings. It won't cover the 3 weeks in Toronto. The hotels will go on a 0% card.
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Minnesotagirl7
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Post by Minnesotagirl7 on Aug 20, 2021 14:10:13 GMT -5
Shoutouts! nooccar- Glad you enjoyed your trips! ners-Nice work! nikiz628- Good updates! Hope you enjoy substitute teaching! movinonup- Glad you’re close to the end! Do you want to restart your race with the new mortgage balance? steph08- Congratulations again on your win!! chiver78- Amazing job and congrats on getting back to that number. Lookin forward to watching you knock the rest out! Smileys Link
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nikiz628
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Post by nikiz628 on Aug 20, 2021 14:29:48 GMT -5
UPDATE RACE #5 8/20/21RACE #5 | Interest Rates | Starting Balance | Last Update | This Update | Difference | Citi Best Buy | 0% promos only | 1803.93 | 845.00 | 775.00 | -70.00 | Discover | 22.9% | 6501.76 | 8000.00 | 8820.00 | +820.00 | Capital One Quicksilver | 22.9% | 4200.00 | 3800.00 | 4000.00 | +200.00 | Menards Store Card | 26.49% | 2252.61 | 0.00 | 0.00 | Paid Off 8/11/20 | TOTALS |
| 14,758.30 | 12,645.00 | 13,595.00 | +950.00 |
NikiZ628 (5):8/20/21 $13,595.00 (5/13/20 $14,758.30 WIRR 227)
Well shoot. This is moving entirely in the wrong direction. I did put 1 charge on Discover, and 1 on Quicksilver that will be reimbursed by PTO at my son's school, but its definitely not $950 worth of merch. In my head, I know what we need to do to get these down. I just need to MAKE. THAT. HAPPEN.
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chiver78
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Post by chiver78 on Aug 20, 2021 17:38:06 GMT -5
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jdnstl
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Post by jdnstl on Aug 22, 2021 10:15:22 GMT -5
UPDATE
Jul 17 21 Aug 22 21
CC1 – 0.00 0.00
CC2 – Closed
CC3 – 0.00 0.00
CC4 – Closed
CC5 – 400.00 0.00
CC6 – 0.00 0.00
CC7 – 0.00 0.00
CC8 - 0.00 0.00
Auto1 – 0.00 0.00
Auto2 – 0.00 0.00
TOTAL - 400.00 0.00 Difference of -$400.00
EF/Savings – $2,000.00 $2,000.00 Difference of $0.00
jdnstl: 8/22/21 $0.00 (1/9/08 $42,966.26 S34)
Total ptd - $42,966.26
Percent ptd – 100%
FIRST RACE IS WON!! YOOOHOOO!!!!
I will work on a new race around 10/1 because my paychecks will be changing due to FSA/DFSA changes being withheld starting with my 9/16 check, and I will be able to map a plan.
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nidena
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Post by nidena on Aug 22, 2021 13:50:19 GMT -5
Today is my 14 year WIRR-versary.
NOT AN UPDATE
I made my first post in 2007 and this is what it looked like: Citi $168 Citi $788 VS $873.67 Sears/Windows $7,217 Lane Bryant $421.49 Macy's Visa $204.05 USAA MC $8,884.80 USAA Loan $4,000 Parkwest $15,919.21 Jeep $3,611.81 H.E.L. $36,234.96 Mortgage $145,038.21
All those items had been opened and used in the year leading up to this post and it came to more than $220,000, $40,000 of which that was not my house or my vehicle. That wasn't even all the store credit cards that I had had. It was just the ones that had balances. That Parkwest debt? Yeah, that was me, on a cruise, drinking champagne, and attending an art auction. I don't recommend that combination. My first three $0 were the two Citi cards and then the VS but, a year or so later, I opened a Discover card and two months after that, I took out a Personal Loan. At one point, I had 14 lines of credit open.
What's interesting is that my income was about the same as it is today. And even though I was tracking my debt, I didn't actually start budgeting until I attended Financial Peace University in January 2011. By the end of 2014, I had only one credit card with a balance. In 2016, there were two; with nearly $30,000 on just those two. 2016 was a brutal year. It was the year that I finished my 20 years in the military and my pay went from $4400/mo to $1637. To say I was unprepared is an understatement. I had it paid down quite extensively until I moved in 2019. Then my debt ballooned again. However, 2020 was a blessing in disguise for me, financially. I paid off the two Student Loans that I had acquired and sold my house. I did buy another house but for much less than than the last one.
Now, my debt is a mortgage, a vehicle, rain gutters, and a credit card with a combined total that is less than just my mortgage above. I still occasionally stress over the $ amount that is on my credit card but it's not "One card has $20,000 on it" stress. It's "Damn! I gotta pay $10 in interest this billing cycle" stress. And every month is an opportunity to do it better than I've done thus far.
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debthaven
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Post by debthaven on Aug 22, 2021 14:32:57 GMT -5
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nikiz628
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Post by nikiz628 on Aug 23, 2021 8:12:30 GMT -5
nidena- Happy WIRR-versary!!!!
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muffyinthered
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Post by muffyinthered on Aug 23, 2021 12:22:29 GMT -5
Update:
MuffyintheRed#2 8/23/2021 $166,341.70 (06/22/2020 $175.394.16)
Amount paid off- $844.60
CU Savings - $25,654.70
Paid off the Home Depot card with zero % coming to end in October. And in September our washer and dryer at Lowes will be paid off. Did a bank transfer for another expense we were paying off from the move and getting into the house. I don't even remember what it was for but didn't have enough to pay it off before it was going to expire in the beginning of October, so now have until 2023 0% to get it paid off and actually saved money between the interest and the fee to transfer.
Next have to work on our Citi card. I use that for stuff like pizza delivery and we paid our dental insurance on it, which will be coming up again in January.
Everybody take care and keep kicking that debt to the curb and down the drain.
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nikiz628
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Post by nikiz628 on Aug 26, 2021 23:37:56 GMT -5
UPDATE RACE #4 8/27/21RACE #4 | INTEREST RATE | STARTING BALANCE | LAST UPDATE | THIS UPDATE | DIFFERENCE | Truck Loan | 4.8% | $24.945.53 | $17,831.42 | $17,510.39 | -321.03 |
NikiZ628(4) 8/27/2021 $17,510.39 (6/26/19 $25,195 WIRR197) Total Paid in 2021: $3,064.64 Total Amount Paid Off: $7,946.53
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nidena
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Post by nidena on Aug 28, 2021 21:59:42 GMT -5
Because of the demand on used vehicles, Kelley Blue Book lists the trade-in value at a range that puts my Honda at no longer underwater. The most recent payment just went through and the balance is $1.02 below $19,000. My regular payments have me paying off $1000 every three months but in June, I started transferring $500 into the payment account rather than just the required payment ($409 to cover the $408.65 payment). With that action, I will be able to pay it off in 37 more months but I'm hoping to be able to make an adjustment to have it paid off by May 2023. That would have it paid off five years after purchase. We'll see how it goes.
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nooccar
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Post by nooccar on Aug 29, 2021 20:04:58 GMT -5
Congratulations on the recent zeros, steph08, nikiz628, jdnstl! It is so inspiring.
I'm looking at my total. As it gets lower & lower, I just want it gone--zero. I was checking my EF & it earned less in interest so far this year than I am paying in one month for my mortgage interest. I started thinking that if I transferred enough to pay off the mortgage, I would still have enough left to cover most emergencies. I would also start saving the money I was paying on my debt to the EF until it was back to the previous balance. Hmmm...
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nidena
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Post by nidena on Aug 30, 2021 13:07:07 GMT -5
Congratulations on the recent zeros, steph08, nikiz628, jdnstl! It is so inspiring. I'm looking at my total. As it gets lower & lower, I just want it gone--zero. I was checking my EF & it earned less in interest so far this year than I am paying in one month for my mortgage interest. I started thinking that if I transferred enough to pay off the mortgage, I would still have enough left to cover most emergencies. I would also start saving the money I was paying on my debt to the EF until it was back to the previous balance. Hmmm... If that's the case, I say do it.
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debthaven
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Post by debthaven on Aug 30, 2021 16:17:11 GMT -5
nooccar , I checked your last post ... Update: nooccar (2): 8/8/2021 $13,505.13 (11/4/2010 $73,475.09 WU197)
What about waiting till it hits 10K, and then paying it off?! It should only take a few more months/till the end of the year. And that way you still keep more in your EF. Just a thought! You're SO close now!!!
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