nikiz628
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Post by nikiz628 on Nov 4, 2021 9:21:00 GMT -5
UPDATE RACE #4
Race #4 | Interest Rate | Starting Balance | Last Update | This Update | Difference | Truck Loan | 4.8% | 24,945.53 | 17,510.39 | 16,893.77 | -616.62 |
NikiZ628(4) 11/4/2021 $16,893.77 (6/26/19 $25,195 WIRR197)
Total Paid in 2021: $3,681.26 Total Amount Paid Off: $8,563.15
Whoops. I didn't realize I hadn't updated this race since August!
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debthaven
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Post by debthaven on Nov 6, 2021 15:43:25 GMT -5
I'm so so sorry for your loss sealy . Oh no nidena ! Hope it's a quick/cheap fix! So you bought a new car?! nikiz628 could you transfer the pool costs to another card? Or borrow from savings?
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nidena
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Post by nidena on Nov 6, 2021 17:45:15 GMT -5
I'm so so sorry for your loss sealy . Oh no nidena ! Hope it's a quick/cheap fix! So you bought a new car?! nikiz628 could you transfer the pool costs to another card? Or borrow from savings? I refinanced my current car. The refinance reset how much time I had left. My previous loan had 36ish month left. The new loan is 60 months, starting in December.
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debthaven
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Post by debthaven on Nov 6, 2021 17:48:01 GMT -5
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ners
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Post by ners on Nov 8, 2021 7:24:18 GMT -5
Race 2 Update
4762.22 (4/21/2018 $12,161.07 R172)
Just plugging along. On pace to hit goal but not stretch goal.
Starting to think about next year's goals.
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nidena
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Post by nidena on Nov 10, 2021 19:32:59 GMT -5
Had the plumber come out to fix that leak. He said my 1990s-era shower hardware is starting to show its age. lol. We also discussed my wanting to convert the third bedroom into a Primary bathroom and walk-in closet. I think I'm looking at a range of $12,000-$15,000. I'm thinking it'll take me two years to save that up. I need to get this computer/library room taken care of first.
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Minnesotagirl7
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Post by Minnesotagirl7 on Nov 12, 2021 13:10:59 GMT -5
Shoutouts!chiver78- A little progress is better than none, nice work! And you're almost at $100k paid off! movinonup- Nice update! sealy- So sorry for your loss. Congrats dropping under $250k. nikiz628- Great updates! ners- Keep up the nice work! Smileys are updated: Smileys Link
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chiver78
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Current Events Admin
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Post by chiver78 on Nov 15, 2021 19:20:06 GMT -5
I got home from vacation on Friday, but finally got around to opening the pile of mail today. there was an excellent piece of news in a big envelope of legal sized paper- my PMI has been cancelled as of the next payment due 12/1! 🥳 I adjusted my payment to the exact, rather than rounding up, since it is just $8 and change. so that means $300/mo that has already been redirected toward the card carrying house projects. I'll call that a win. 👍
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ners
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Post by ners on Nov 15, 2021 19:34:48 GMT -5
Update Race 1
64029.36 (1/3/2011 $97,382.42 MPT5)
On pace to hit goal.
364.91 paid down this month.
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nikiz628
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Post by nikiz628 on Nov 16, 2021 9:09:55 GMT -5
I'm so so sorry for your loss sealy . Oh no nidena ! Hope it's a quick/cheap fix! So you bought a new car?! nikiz628 could you transfer the pool costs to another card? Or borrow from savings? H made some extra money on one of his side hustle, and its enough to pay off that pool loan. We are seriously considering applying it to that due to that ridiculous rate. And because its our highest minimum payment after my car payment. We could take that $382 and put it towards other debt.
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procras108r
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Post by procras108r on Nov 16, 2021 12:43:00 GMT -5
Hi all! I used to be active here 8 or 10 years ago, and with the feedback and support from this group was able to pay off all of my consumer debt. I decided not to actively race my mortgage, so fell off the boards for the most part after that. I'm stopping back in to say - I am now completely debt free! I paid off my mortgage this morning. Though I didn't race it, I was able to at least pay it off in 20 years instead of 30. The actual payoff process was rather funny. The company mailed me the payoff statement, with the amount due to them, mailed by check, by November 8. Problem was, they didn't actually mail the statement until November 9, and it didn't reach me until the 15th. I called them at lunch and the rep said 'huh. Well, at that amount, I can rerun the statement and you can pay it now over the phone.' So that's how I ended up making my final payment today. This group was instrumental in setting me on the right path, and I'm forever grateful for its existence. It was one of the first places I thought of today after the deed was done - I don't think I could have done it without you. For those currently racing - stick with it! You can do it! Thanks so much to all of you for being here, and keeping this resource alive.
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nidena
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Post by nidena on Nov 17, 2021 13:39:41 GMT -5
I am amazed at my own journey on this board. When I look back at where I started, how much I paid down, how much I added, how much more I paid down, it's...WOW! I started with $223,361, across 14 debts, in 2007. Paid a number of small credit lines off. Then I added a Discover card, a treadmill, and a personal loan. Thankfully, those three items were paid off by mid 2009. Paid off some more of the debts I started with by 2010 (anyone remember my discussions about my cruise art purchase? That was paid off during that time.) But then opened my AmEx (still in use today) The Visa/MC and Discover card were up and down for all of 2011 and most of 2012. Amazingly, I had no CC debt for a brief moment in 2012 but then came back at the end of the year. I also bought a truck in 2012...three weeks before I deployed. I really don't remember why. I think I thought it would be a practical purchase when I returned. In any case, I sold it a year later, in Nov 2013 and for more than I bought it for so that was a win. Sort of. In 2014, the CCs crept up consistently. That, I know, was because in Nov 2013, USAA had offered to 50% match every payment I made in excess of the required payment up to $6000. So I was throwing all my cash at the H.E.L. that next year. It worked, too. My H.E.L. went from $23k to $8k in that time and was gone by Dec 2014. In 2015, my $16k CC balance steadily decreased; as did my $132k mortgage. Even though my total was $90k less, at $133k, than my starting total in 2007, I'm sure I had paid more than $150k towards debt in those eight years. And then in mid-2016 I retired from the military and my pay decreased from $4400/mo to $1637/mo. And my Jeep broke. Every other month for six months. By 2017, I had $29k on two CCs. At least the mortgage was still going down. I liquidated a Roth to pay off a good chunk of that. I also began receiving my VA Disability which doubled that $1637/mo that I was receiving. It was good to be able to breathe again. In early 2018, I bought a new car and, later that year, I replaced two HVAC systems, a water heater, and a garbage disposal that had been kind of new when I bought the house in late 2006. My student loans also kicked in. My debt total was back up to $189k by Nov 2018. But, by June 2019, the HVAC (and stuff) was paid off. However, the CC debt crept up again in preparation for selling my house and moving from East Coast to Midwest. I just continued to pay what I could. I sold my house in spring of 2020 and was mortgage free until July 2020. But the new mortgage was lower than what I had even owed on the previous house. Yay for good decisions. I got a new job in the fall of 2020 and by November my student loans were a thing of the past. February 2021, I replaced all the rain gutters on the house. And other than prepaying for cremation, paying for my website creation, and buying a very snazzy chair (that is still in production due to supply chain hell), I haven't added any new debts to the mix. I am currently $4400 away from having just a vehicle loan and a mortgage and, looking at my budget, I feel like those raingutters will be paid off by the end of January. At some point, though, I will be adding the debt of new flooring to the mix but that debt won't last long. I'm currently saving up for it to be able to pay it off quickly. Thanks for reading. Felt like reminiscing.
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sealy
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Post by sealy on Nov 18, 2021 2:35:53 GMT -5
Shoutouts!chiver78 - A little progress is better than none, nice work! And you're almost at $100k paid off! movinonup - Nice update! sealy - So sorry for your loss. Congrats dropping under $250k. nikiz628 - Great updates! ners - Keep up the nice work! Smileys are updated: Smileys Link Thank you Minnesotagirl7
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sealy
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Post by sealy on Nov 18, 2021 2:37:27 GMT -5
Thank you all very much for your kind words. I really appreciate everyone here.
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nikiz628
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Post by nikiz628 on Nov 19, 2021 9:05:51 GMT -5
nidena- You inspire me daily, friend!
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nidena
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Post by nidena on Nov 19, 2021 12:48:48 GMT -5
nidena - You inspire me daily, friend!
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Minnesotagirl7
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Post by Minnesotagirl7 on Nov 19, 2021 14:12:48 GMT -5
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Rukh O'Rorke
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Post by Rukh O'Rorke on Nov 22, 2021 13:14:16 GMT -5
I got home from vacation on Friday, but finally got around to opening the pile of mail today. there was an excellent piece of news in a big envelope of legal sized paper- my PMI has been cancelled as of the next payment due 12/1! 🥳 I adjusted my payment to the exact, rather than rounding up, since it is just $8 and change. so that means $300/mo that has already been redirected toward the card carrying house projects. I'll call that a win. 👍
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muffyinthered
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Post by muffyinthered on Nov 23, 2021 10:11:47 GMT -5
MuffyintheRed#2 11/23/2021 $167,091.44 (06/22/2020 $175.394.16)
Amount paid off- $345.89
CU Savings - $25,655.70
Inflation is getting us! Medicare is going up and so are the national deductibles, most of that is next month but food is ridiculous and gas is if we drove very far. Oh well, there is always next month.
Hoping everyone has a peaceful and wonderful Thanksgiving.
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nikiz628
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Post by nikiz628 on Nov 23, 2021 23:19:24 GMT -5
UPDATE RACE #2RACE #2 | INTEREST | STARTING BALANCE | LAST UPDATE | THIS UPDATE | DIFFERENCE | Auto Loan (SUV) | 4.00% | $32,991.93 | $3,283.38 | $2,875.61 | -407.77 |
NikiZ628 (2): 11/23/21 $2,875.61 (3/26/18 $32,991.93)
Total Paid in 2021: $4,426.00 Total Paid Overall: $30,116.32I hit the $30,000 paid off on this update- and dropped down into the next thousands mark on the balance! Inching closer to my 2021 goal of having this loan under $2,700- which I should hit next month! I am chomping to pay this one off with my H's extra side hustle $$, but with that low interest rate, it isn't the best move for us. Soon enough, soon enough, this will be history!!!
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jdnstl
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Post by jdnstl on Nov 24, 2021 10:43:08 GMT -5
Good morning Racers!!
I will be back next week to start a new race, but until then.....
HAPPY THANKSGIVING! May your holiday be spent with people you love.
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nidena
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Post by nidena on Nov 25, 2021 13:41:58 GMT -5
I just looked up when I first financed the rain gutters. It was 01/21/2021 for $9896. I just made another payment that will clear on Monday and put the balance at $3850. My goal is to have them paid off by their one-year mark. I will receive six more paychecks between now and 1/21/2022 with #6 falling on Jan 21st. This will happen.
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nikiz628
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Post by nikiz628 on Nov 29, 2021 0:09:07 GMT -5
Race #5 Update
RACE #5 | INTEREST RATES | STARTING BALANCE | LAST UPDATE | THIS UPDATE | DIFFERENCE | Citi Best Buy | 0% Promos Only | 1,803.93
| 300.00 | 0.00!!! | -300.00 | Discover (loan) | 12.99% | 15,000.00 | 14,679.34 | 14,661.56 | -17.78 | Care Credit (DS1's Ortho Work) | 0% Until 1/2022 | 4,160.00 | 3,850.00 | 3,700.00 | -150.00 | Affirm Pool Payment | 27.97% | 3,804.44 | 3,484.10 | 2,957.45 | -526.65 | TOTALS |
| 24,768.37 | 22,313.44 | 21,319.01 | -994.43 |
NikiZ628 (5): 11/29/21 $21,319.01 (9/22/21 $24,768.37 WIR271)
WOO HOO! We got a ZERO on this update! Our Citi Best Buy is now a $0 balance. Once we finish holiday shopping/expenses (only 3 people left to buy for) and our Disney trip (11 days til we head out, entire trip paid for in cash and free money I've earned on rewards sites and apps!), we are going to give a job to H's side hustle money. We are really leaning towards paying off that pool (or paying as much as we can on the balance to get it gone, since its our highest interest rate right now).
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mourningcloak
Junior Member
Just when the caterpillar thought the world was ending, she became a butterfly.
Joined: Jan 8, 2011 19:24:04 GMT -5
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Post by mourningcloak on Nov 30, 2021 9:20:20 GMT -5
Hello all! I'm back. After previously winning some races, I think it is time to come back and refocus on my finances. We bought a home this past year and while I thought I did the budgeting well to prepare, I'm finding we didn't plan enough for unexpected things. For example, the hand me down lawn mower didn't last the summer. And who knew Christmas lights were so expensive!! So after this past weekend of hemorrhaging money between decor and finishing the majority of Christmas shopping, I can feel the anxiety building and the need to get back to racing away debts.
If anyone can send me the spreadsheet to make posting updates easy, I'd appreciate it! I'll set everything up next week when I get paid; by then everything that happened this week should have hit the cards and I'll have a better picture of how bad we got!
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debthaven
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Post by debthaven on Nov 30, 2021 14:20:03 GMT -5
Hurray on the zero nikiz628 !!! Enjoy your trip! I think paying off or down the pool would be a great use of the money! I'm so impressed at how both you and your DH have these side hustles!
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Minnesotagirl7
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Post by Minnesotagirl7 on Dec 2, 2021 14:27:06 GMT -5
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movinonup
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Post by movinonup on Dec 2, 2021 20:24:21 GMT -5
update - movinonup: 12/01/2021 $572,261.12 (02/12/2013 $309,217.65 NE100) NYAccount | Standard Interest Rate
| Monthly Interest
| 02/12/2013
| 11/01/2020 | 12/01/2021 | 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% | $94.62
| $20,688.08
| $7,500.00 | $7,420.00 | $80.00 | $1,3268.08 | 64.13%
| CC#2 | 16.99% | $0.00 | $(8.16)
| $14,200.00 | $14,200.00 | $0.00 | $(14,208.16) | 0.00%
| CC#3 | 19.99% | $86.96 | $10,300.00
| $6,521.15 | $6,100.00 | $421.15 | $4,200
| 40.78%
| CC#4 | 16.99%
| $0.00 | $9,135.05
| $1,535.28 | $(33.30) | $1,568.58 | $9,168.35
| 100.36% | CC#5 | 10.99% | $0.00 | $4,910.22
| $0.00 | $0.00 | $0.00 | $4,910.22
| 100.00%
| CC#6 | 22.99% | $0.00 | $1,239.00 | $2,959.17 | $2,664.17
| $295.00 | $(1,425.17) | (115.03)% | CC#7 | 20.99% | $0.00 | $0.00 | $3,383.45 | $1,495.42
| $1,888.03 | $(1,495.42) | 0.00% | CC#8 | 22.99% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | 0.00% | SL#1 | 3.50% | $15.29 | $23,021.50
| $5,145.16 | $4,973.41 | $171.75 | $18,048.09 | 78.40%
| 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% | $1,396.77
| $220,170.76 | $536,357.88 | $535,441.42 | $916.46 | $(315,270.66)
| (143.19)%
| Auto
| 4.24%
| $0.00
| $8,979.09
| $0.00
| $0.00 | $0.00
| $8,979.09
| 100.00%
| Total
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| $1,593.64
| $309,217.65
| $577,602.09 | $572,261.12 | $5,340.97 | $(263,043.47) | (85.07)%
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EF = $130,009.19 I have a new zero! Actually it's negative since I thought there was going to be some interest charged. My contractor cashed the check that I gave to him at last month, so my EF is down. The payment to him is not reflected in my debt total since I don't owe him anything until he bills me. The EF should be enough to pay him in full and have some left over. I'm working on paying down CC#3 now, but not too aggressively. CC#8 is a daily use card, so that balance is going to fluctuate from month to month. Overall, last month was a good month in terms of paying down debt. -movinonup
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snapdragon
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Post by snapdragon on Dec 3, 2021 11:51:31 GMT -5
movinonup - You are getting close with both CC# 6 & 7 and CC# 3 looks like it could possibility be gone late next year. Not sure on your SL#1 but you are also doing good on that. But I would seriously concentrate on those 3 CC's. Especially with their interest rates. Good job!
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nikiz628
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Post by nikiz628 on Dec 4, 2021 23:30:13 GMT -5
UPDATE RACE #4 12/4/21
Race #4 | Interest Rate | Starting Balance | Last Update | This Update | Difference | Truck Loan | 4.8% | 24,945.53 | 16,893.77 | 16,586.61 | -307.16 |
NikiZ628(4) 12/4/2021 $16,586.61 (6/26/19 $25,195 WIRR197)
Total Paid in 2021: $3,988.42 Total Amount Paid Off: $8,870.31
This will most likely be the last update on this race for 2021! The goal was to get this one under 15k by the end of the year. We didn't hit that, but I am happy with the progress we made!!
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nidena
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Post by nidena on Dec 5, 2021 0:29:05 GMT -5
movinonup, when I take your mortgages out of your starting and current lists, it's easy to see that you current debt is less than half of what it was when you started ($89k then and $41k now). That is tremendous progress in eight years!
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