movinonup
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Joined: Feb 7, 2013 7:44:03 GMT -5
Posts: 318
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Post by movinonup on Sept 5, 2021 13:08:49 GMT -5
update - movinonup: 09/01/2021 $585,670.28 (02/12/2013 $309,217.65 NE100) NYAccount | Standard Interest Rate
| Monthly Interest
| 02/12/2013
| 08/01/2020 | 09/01/2021 | 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 | $22,200.00 | $400.00 | $(1,511.92) | (7.31)%
| CC#2 | 16.99% | $0.00 | $(8.16)
| $108.97 | $0.00 | $108.97 | $(8.16) | (100.00)%
| CC#3 | 19.99% | $93.49 | $10,300.00
| $6,644.00 | $6,530.00 | $114.00 | $3,770.00
| 36.60%
| CC#4 | 16.99%
| $48.58 | $9,135.05
| $3,401.36 | $3,248.58 | $152.78 | $5,886.47
| 64.44% | CC#5 | 10.99% | $0.00 | $4,910.22
| $164.43 | $17.50 | $146.93 | $4,892.72
| 99.64%
| CC#6 | 0.00% | $0.00 | $1,239.00 | $3,814.17 | $3,534.17
| $280.00 | $(2,295.17) | (185.24)% | CC#7 | 20.99% | $0.00 | $0.00 | $3,036.90 | $6,045.61
| $(3,008.71) | $(6,045.61) | 0.00% | CC#8 | 22.99% | $0.00 | $0.00 | $573.08 | $423.08 | $150.00 | $(423.08) | 0.00% | SL#1 | 3.50% | $16.81 | $23,021.50
| $5,657.89 | $5,487.66 | $170.23 | $17,533.84 | 76.16%
| 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% | $1,403.89 | $220,170.76 | $539,093.02 | $538,183.68 | $909.34 | $(318,922.26)
| (144.44)%
| Auto
| 4.24%
| $0.00
| $8,979.09
| $0.00
| $0.00 | $0.00
| $8,979.09
| 100.00%
| Total
|
| $1,562.77
| $309,217.65
| $585,093.82 | $585,670.28 | $(576.46) | $(276,452.63) | -89.40%
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EF = $212,859.59 Considering how much we traveled the last month, I'm OK with a small balance increase. We're starting to buckle down and control our spending. Hopefully we will turn things around this month. I do know a lot of the CC#1 balance, if not all, will be transferred to another card this month. CC#5 should be back to $0 and I am considering paying CC#6 in full, though it may be a substantial payment instead of a full payoff. I hope everyone gets to enjoy a day off tomorrow. -movinonup
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nidena
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Post by nidena on Sept 6, 2021 19:35:17 GMT -5
All the big purchases from June-August are all paid off: sleeper chair, eye/sun glasses, website, electrical work. I'm back to just regular monthly purchases/expenses. But still taking it day by day to not make some huge $1000+ purchase for the remainder of the year.
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ners
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Post by ners on Sept 7, 2021 6:20:36 GMT -5
Update Race 2
5152.28 (4/21/2018 $12,161.07 R172)
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chiver78
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Post by chiver78 on Sept 7, 2021 12:39:33 GMT -5
not a huge update here, but still progress. I made some aggressive payments toward planned-for (not racing) project charges this month. on the mortgage front, I got my literature on the process to rid my loan of PMI. the lingering question I had was whether I'd be able to make a lump-sum payment if the re-valuation came back lower than I need to meet the 80% requirement. well, that answer is 'no'. but, I'd be able to make the lump-sum payment and then shell out another $150 for an additional re-valuation, and go from there. whatever, I mailed out the form and $150 check on my birthday last week. all of the online estimates I'm seeing the past three weeks are above the magic number and still rising, so I'm realistically either over it or really close. if it means I pay another $150 after dropping a few thousand on a lump-sum, so be it. $225/mo back in my pocket pays itself off in less than 2 payments. creditor | start | previous | today | Discover #1 | $16,553.65 | $8,177.24 | $5,777.24 | Discover #2 | $14,278.26 | $4,840.15 | $4,861.15 | 1st National | $24,168.63 | $18,296.60 | $17,871.60 | BofA #1 | $11,813.71 | $13,838.98
| $13,688.98 | 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 | $45,152.97 | $42,198.97 |
chiver78 9/7/21 $42,198.97 (5/9/20 $138,495.31)
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Minnesotagirl7
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Post by Minnesotagirl7 on Sept 8, 2021 12:53:52 GMT -5
Shoutouts! nikiz628- Hope next month is better; good update on race #4! jdnstl- Congrats on your win!! muffyinthered- Nice update! Can you check your tagline in your update? movinonup- Looking forward to your next update! ners- Nice numbers! Over $7k paid off on this race! chiver78- Good update! Smileys Link
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debthaven
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Post by debthaven on Sept 8, 2021 14:40:44 GMT -5
Fingers crossed for the PMI chiver78 ! movinonup my apologies because I may have asked you this before ... I'm not sure why you're including your mortgage if you're not actively racing/prepaying it. But I noticed your EF, which is HUGE!!! Is that a typo?! If not, wow! In that case, wouldn't you be better off taking (at least) 12K to pay off some of your CCs/SLs? Some of them have really high interest rates ...
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muffyinthered
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Post by muffyinthered on Sept 8, 2021 16:33:15 GMT -5
Minnesotagirl7 - I am not sure how to fix my post but the total should read $166,341.70 not what is written there. Thanks for letting me know.
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nikiz628
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Post by nikiz628 on Sept 8, 2021 20:37:25 GMT -5
We were offered a consolidation loan through Discover (where we hold a card), that will cut our APR on our two major credit cards in half! So, my races will be changing themselves up a bit in the next day or so. I am SO excited!
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Minnesotagirl7
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Post by Minnesotagirl7 on Sept 9, 2021 9:34:00 GMT -5
muffyinthered- Score! I guessed right. Your tagline on the smileys list is correct. If you go back to your post, upper right corner of it there is an "edit" button. Click that, make your changes, and click "save changes". Easy peasy! nikiz628- Awesome news on the consolidation loan! Hopefully any fees are outweighed by the savings. Vroom, vroom!
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muffyinthered
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Post by muffyinthered on Sept 9, 2021 9:45:42 GMT -5
Minnesotagirl7 - thanks it worked!!!!!! First time for everything
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nooccar
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Post by nooccar on Sept 12, 2021 10:34:31 GMT -5
Update: I AM DEBT-FREE!
nooccar (2): 9/12/2021 $0 (11/4/2010 $73,475.09 WU197)
I read your comments, spent time talking with friends, looked at my accounts, thought about it, & called the credit union to see what the process was. In talking with the credit union there was a $265 reconveyance fee I didn't know about which deals with administration & county filing fees. I transferred the money in chunks and paused after each one to see if I was ready to transfer the next chunk. I feel really good to have it gone.
My EF is still very healthy but I will increase it & my retirement savings with the money I was using to pay down the mortgage.
I heard about WIRR in the summer of 2008 and joined 8/28/2008 for my first race. There were definitely times I just wanted to give up but I felt accountable here. Seeing other people getting rid of their debt also helped.
I want to thank everyone for all of the support and encouragement to keep slogging along for these many years. It was snowflakes that eventually turned into snowballs, that finally became an avalanche.
I plan to look in at times to keep with how you are doing. Thank you!
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Maryland Monroe
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Post by Maryland Monroe on Sept 12, 2021 11:31:29 GMT -5
Nooccar, congratulations! I joined WIRR only a few months before you did, 2/24/08. I finished my mortgage on 4/1/20, and I think it was the best decision I ever made. An even better feeling than paying off the mortgage is the next month when you don't have to make that payment!
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nikiz628
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Post by nikiz628 on Sept 12, 2021 20:15:17 GMT -5
nooccar - CONGRATULATIONS on that beautiful zero! I originally ended up here (well MSNmoney) in 2008 as well, so I know what you mean when you say at times, you just wanted to quit. It's been a long haul but LOOK WHAT YOUR PERSEVERANCE HAS DONE FOR YOU!!!
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debthaven
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Post by debthaven on Sept 13, 2021 3:33:17 GMT -5
Congratulations nooccar ! You need to change your name to noomortgage now!
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muffyinthered
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Post by muffyinthered on Sept 13, 2021 10:08:27 GMT -5
nooccar - Congratulations We have owned many houses but never paid any off. I am hoping that this will be the first. But I have a long way to go!
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movinonup
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Post by movinonup on Sept 13, 2021 22:21:13 GMT -5
Fingers crossed for the PMI chiver78 ! movinonup my apologies because I may have asked you this before ... I'm not sure why you're including your mortgage if you're not actively racing/prepaying it. But I noticed your EF, which is HUGE!!! Is that a typo?! If not, wow! In that case, wouldn't you be better off taking (at least) 12K to pay off some of your CCs/SLs? Some of them have really high interest rates ... I keep all of my debts on my list because if I didn't, I would really only have one debt on my list at a time. It's important to me to see what my total debt is. The EF is not a typo. It's huge, but I will have to pay my contractor when my renovation is completed. The balance owed to my contractor is the one debt that isn't on my list, because until everything is complete, my contractor hasn't earned the money, and, therefore, I don't owe the money yet. So I am holding what I owe my contractor plus a cushion for any unexpected expenses. It kills me to keep that money as cash. But I can't risk it in the stock market because it is supposed to be spent within the next few weeks (if I can get my contractor back to finish all of my punch list items). -movinonup
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ners
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Post by ners on Sept 16, 2021 20:38:29 GMT -5
Update Race 1
64759.99 (1/3/2011 $97,382.42 MPT5)
Currently on pace to hit my goal.
Just plugging along.
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nidena
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Post by nidena on Sept 19, 2021 18:15:02 GMT -5
Dealing with some discontent. Not sure what's going on. I only recognized it because I put $500 worth of clothes in the LL Bean shopping cart with the idea that it might fix things. I made no purchase. I recognized the feeling soon enough.
I think it's partially attributed to a comment that my stepmom made while I was visiting...that she could "never live that way"...in regards to my house being mostly furniture-less for the past year (because I see no point in getting a bunch of furniture moved in only to move it out to rip up and replace carpet). This is the same woman who once said her daughter was sometimes a better daughter to my dad than me. The shit that resonates even years later...
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nikiz628
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Post by nikiz628 on Sept 19, 2021 19:34:40 GMT -5
Dealing with some discontent. Not sure what's going on. I only recognized it because I put $500 worth of clothes in the LL Bean shopping cart with the idea that it might fix things. I made no purchase. I recognized the feeling soon enough. I think it's partially attributed to a comment that my stepmom made while I was visiting...that she could "never live that way"...in regards to my house being mostly furniture-less for the past year (because I see no point in getting a bunch of furniture moved in only to move it out to rip up and replace carpet). This is the same woman who once said her daughter was sometimes a better daughter to my dad than me. The shit that resonates even years later... She sounds like a real treat.
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Maryland Monroe
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Post by Maryland Monroe on Sept 20, 2021 6:39:43 GMT -5
I think it's partially attributed to a comment that my stepmom made while I was visiting...that she could "never live that way"...in regards to my house being mostly furniture-less for the past year (because I see no point in getting a bunch of furniture moved in only to move it out to rip up and replace carpet). The smart aleck in me would say, "Well, isn't it a good thing that you don't live here, then?"
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debthaven
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Post by debthaven on Sept 20, 2021 11:27:25 GMT -5
Hugs Nidena ... and good for you for not buying all those clothes!
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nikiz628
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Post by nikiz628 on Sept 22, 2021 18:19:45 GMT -5
Ok, I think I am ready to post my altered debt race! If you missed it, I was able to get a consolidation loan through discover to pay off our Discover and our Quicksilver balances. Quicksilver and Discover both had 22.9% interest rates. This new loan, while still higher than I would like, is at 12.99%. We will save $ in the long run, and psychologically it makes me feel a little better. I am also going to add the current balances of our Care Credit, which is DS1's orthodontic work and Affirm, which is our pool payment. I think having them all in one place will be helpful, and I haven't raced them up until this point. This covers all of our debt now, minus our 2 cars, our mortgage, and our HELOC. RACE #5: New NumbersRACE #5 | Interest Rates | Starting Balances | Last Update | This Update | Difference | Citi Best Buy | 0% Promos Only | 1803.93 | 775.00 | 742.00 | -33.00 | Discover (loan) | 12.99% | 15,000.00 | 15,000.00 | 15,000.00 | 0 | Care Credit (DS1's Ortho Work) | 0% Until 1/2022 | 4160.00 | 4160.00 | 4160.00 | 0 | Affirm Pool Payment | 27.97% | 3804.44 | 3804.44 | 3804.44 | 0 | TOTALS |
| 24,768.37 | 23,739.44
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**not sure what the heck happened with my table. the THIS UPDATE total is my tagline update. NikiZ628 (5):9/22/21 $23,706.44 (9/22/21 $24,768.37 WIR271)My next substitute teaching check should wipe out at least half of the Citi Best Buy balance. I know it's 0% but its so close to being gone, I want it paid off so we can start tackling the ridiculous pool payment interest rate.
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nikiz628
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Post by nikiz628 on Sept 22, 2021 18:32:16 GMT -5
UPDATE RACE #2
RACE #2 | INTEREST | STARTING BALANCE | LAST UPDATE | THIS UPDATE | DIFFERENCE | Auto Loan (SUV) | 4.00% | $32,991.93 | $4,096.27 | $3,688.83 | -407.44 |
NikiZ628 (2): 9/22/21 $3,688.83 (3/26/18 $32,991.93)
Total Paid in 2021: $3,612.78 Total Paid Overall: $29,303.10
Inching closer to my 2021 goal of having this loan under $2,700!
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Minnesotagirl7
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Post by Minnesotagirl7 on Sept 24, 2021 9:27:43 GMT -5
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Minnesotagirl7
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Post by Minnesotagirl7 on Sept 24, 2021 9:28:49 GMT -5
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muffyinthered
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Post by muffyinthered on Sept 24, 2021 12:50:52 GMT -5
Update:
MuffyintheRed#2 9/23/2021 $165,976.02 (06/22/2020 $175.394.16)
Amount paid off- $365.68
CU Savings - $25,655.70
A little slow this month but I did have the money to pay the estimated quarterly. Had to pay more because Fidelity didn't take out any Federal tax from out RMD from DH 401k. Wasn't that sweet!
We did pay off Lowes and did a BT for the Bank of America, so I wouldn't have to pay any interest on the carpet we had put in when we moved 2 years ago in our new house. This is with Chase and is good until Jan. 2023, so we will definitely have it paid off by then.
Next month we are having our house air washed, hasn't been done since it was built in 2006. So that will be $265, which isn't a bad deal. Just found out that DH Part D Prescription drug coverage will go up $8.00/mo. Holding my breathe to see what our supplemental insurance will go up this year.
So we are going on a small last vacation up north in Wisconsin to Door County. The trees should be beautiful. Only for 3 nights but it will be good to get away for a little while.
Hope everyone is enjoying fall. Here in Wisconsin it is getting cold in the mornings.
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Minnesotagirl7
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Post by Minnesotagirl7 on Sept 29, 2021 14:52:20 GMT -5
Shoutouts! nooccar- Congrats again! How does it feel?! ners- Good update! Dropped under $65k! nikiz628- Got your numbers all updated for Race #5. Vroom, vroom! muffyinthered- Nice update, every little bit counts! Link to the Smileys: Smiley update!
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nooccar
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Post by nooccar on Oct 2, 2021 12:02:21 GMT -5
It feels great! I was able to make a nice payment to my EF last paycheck. On the other hand, I really wanted to quit my job so I could retire. I talked myself out of that. It just doesn't make financial sense & I still mostly enjoy my job. I will probably seriously consider it again at the end of this school year. It gives me time to look at where I am at that time & explore alternative options.
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nidena
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Post by nidena on Oct 2, 2021 12:43:00 GMT -5
This has nothing to do with the debt I'm racing but it speaks to paying attention to details.
Last month, I noticed that my mortgage website had a snippet that said: "Send mortgage payments to [address]" and, when I compared it to where I had been sending them, they didn't match so I changed it. A few days ago, I received my statement and saw that it had payment address that was the same as what I had made the change *from" so, now, I'm freaking out a little bit that I got the address wrong AGAIN. Mind you, my payments have been taking nearly a week to process and clear with the address that I had been sending them to. I dug around on the website for a bit and came across some info that should be much easier to find:
"For payments without a coupon: [address]" which is to what I had made the change and sent the Oct 1st payment. "For payments with a coupon: [different address]" which is to where I had been sending them and likely why they were taking so long because they were online transactions with no coupons.
Today, I check the website to see if the payment had cleared since I'm finally sending payments to the "no coupon" address. Yep! Whew!!
This update is pretty much just my car and what little bit of CC balance is hanging out after I paid the "new balance due by..." payments.
UPDATE:
nidena: 10/2/2021 $19,710.36 (8/22/2007 $223,361.20 N453,503,NE648,NPT25)
My rain gutters have $5919 balance on them (down from $9925 in Feb '21) but with 0% for 18 months, I'm not racing them. I pay $600/mo towards them so they should be paid off by June.
I'm still taking each day one at a time so as to not spend $1000 in one fell swoop. I did spend $500 on new "boulder holders" yesterday--pretty much a whole new wardrobe of them. The ones I bought a year (or more) ago are showing their age so it was time.
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chicg
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Post by chicg on Oct 4, 2021 0:48:04 GMT -5
Helllloooo! It's been a while, I'm basically just running in the hamster wheel at this point, cash flowing my grad class again which is wiping out extra progress on my cc, but the cc is at 0% and I'm avoiding a student loan, for now at least, this can't go on indefinately.
Congrats on the win Nooccar!!!
Muffy - I forget you're in WI. I went to Spring Green a few weeks ago, it was such a nice little getaway!
So, while I've been plugging away, I've been trying to find some financial planning advice. I spoke to some reps through a work program and while they aren't the right people to have as my financial planners (I'm having so much trouble knowing how to go about finding one), the one guy was able to answer a question of mine about an insurance policy my dad told me about right before he died. I didn't know what to do with it at the time, so I left it. But I've realized I don't need the policy since I never married or had kids, and at this point I think it's more beneficial for me to take the cash out and surrender the policy (and if I ever get married we'll deal with some kind of savings plan, I'm hard to insure because of health issues but this policy is only about $90K). Anyhow, looks like I should get about $25K if I surrender, which allows me to pay off the cc, pay the remainder of my class this semester, add more to my EF to bring that to 6 months of expenses, and put about $15K into a new savings account for a down payment. I don't think I want to stay in chicago at this point so I likely won't buy here, so even though I'm anxious I'll probably wait 2-3 years and relocate. I haven't pulled the trigger yet, not sure why I'm nervous to cash it out, but I plan to call Prudential this week and at least pull some out to pay the cc and school. Maybe taking it out in chunks won't be as bad as ripping off the band aid all at once. Anyhow, my next update might be a $0! Having no more CC payment or EF deposits means I can redirect that all to a car when the used market calms down a bit. I'm also VERY anxious to invest some money so I might take a small amount and either open a brokerage or ROTH. The finance guy told me not to bother with a ROTH since I have ROTH401K allocations within my plan already, but I've been told I can basically use that as an EF if really needed and that might work better than a brokerage. After watching my dad die younger and feeling like I won't live all that long, I don't want all my savings tied to retirement.
Lots of OG's recalling original post dates, I love it! I'm also from the MSN Money era, joined in 2007, took almost exactly 4 years to pay that off. Even though I got into debt again, it was nowhere near the level of debt the first time, which was ALL stupid spending on my cc and charging things like my car payment when I got laid off. The second round of cc debt was from my dad getting sick, and then my cats...thank goodness I had my stupid spending habits corrected.I learned so many invaluable skills, that's when we had a lot of tough love around here! Here's my original tagline chicg, 8/31/07, 34,368, N497.
I'll do a proper update once I get this Purdential policy thing figured out, fingers crossed it works out like I'm hoping!
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