nikiz628
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Post by nikiz628 on Oct 12, 2022 14:30:35 GMT -5
Ughh. (takes a deep sighing breath). I have been avoiding making this post. It's going to be a hard one for me to type up. But if I want to fix this mess I need to: 1. admit to my WIRR gals that I have screwed up. 2. Lay it all out there. 3. Formulate a plan of attack. 4. Start digging out of this hole. Step 1: Ladies, Idk if we blacked out or just went on some sort of debt splurging this year...but we are officially over our heads. I thought we were doing so well, but clearly, we still have some bugs to work out in our finances. Step 2: We were relying on our CC's way too much for the little odds and ends that we "needed" and didn't have the extra funds for. Most definitely a lot of purchases were wanted and not needed. I would put the groceries on one to earn rewards and then not go back and pay off said grocery trip. Rinse. Repeat. Rinse. Repeat. A huge screw-up we made was to BT our 2 cc's into the Discover Loan (that wasn't a bad move). The bad move was that since then, we've basically re-maxed out the original 2 cc's. We had also taken out a SOFI loan to purchase a side-by-side rec vehicle (definitely a want, not a need, even if it would be very helpful to own one). We haven't purchased one yet because the market for them is crazy (used ones sell in minutes, which is why we took the loan out first- we were losing the chance to buy one not having the money upfront). I transferred the funds for that into our savings for the time being. We are open to postponing the purchase and using the money to help us if needed. I am sure by this point, if you are still reading, you are shaking your head and forming some judgments- which I understand completely. I am literally typing out a story similar to many other people's that I've tsk tsk'd like I knew better. But, if I truly want to fix this, I have to admit all the dumb sh*t we have done recently to get us back in the hole so far. This brings us to... Step 3: This is where we are now. I am very much open to helpful suggestions on our next move based on the numbers I am about to post. Please be gentle. I am already feeling very crappy about this, I don't need any extra guilt. I know we screwed up. I know we made extremely bad choices. I will own up to ALLLLLLL of that. Now is the time to figure out where we go from here- what do we tackle first? what can we do to make this race easier? I am picking up as many substitute teaching shifts as I can to help bring in some extra income. I am also going to start doing the plasma thing for some extra side $$ as well. I also plan to continue selling all my purge items on Facebook. H has picked up 2 side jobs that will bring in approximately $15,000 in extra $$. All of this side $$ will go directly to debt payoff. Here are our current numbers. I have been racing my debts in broken-up races (the vehicle is one. CC/loan debt is another). I am not sure if that's a good way to continue or if I should just combine them ALL into one large race. Also, I have no intention of racing our mortgage at this time. We refinanced from a 30 to a 15-year loan 2 years ago when the rates bottomed out, so we are set to just ride that one out for the time being. (We currently owe $63,000 on the house). Debt | Interest Rate | Current Balance | Monthly Minimum Pymt | Discover Card | 25.99% | 15,421.93 | 321.00 | Quicksilver Capital One Card | 25.99% | 6,024.77 | 192.00 | Menards Card | 27.99% | 1,730.44 | 25.00 | Best Buy Citi Card | only used for 0% promo purchases | 1,665.02 | 38.00 | Care Credit (DS orthodontics) | 26.99% | 4,433.57 | 173.00 | Discover Loan | 12.99% | 12,736.93 | 342.00 | SOFI Loan | 22.49% | 10,144.87 | 283.00 | Truck Loan | 4.8% | 13,297.91 | 382.00 | HELOC (not sure if I want to race) | 7.7% | 8,746.19 | 135.00 | TOTALS |
| 74,201.63 | 1,891.00 |
There it is, all out in the universe in black and white. If this was YOU, what would your first move(s) be? Again, please be gentle. I will take any advice to heart and thoroughly consider all ideas given. Thank you ladies for being my shoulders to virtually lean on as I deal with the grief and anger of allowing our family to get so far off track. I really couldn't do this without you all.
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Minnesotagirl7
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Post by Minnesotagirl7 on Oct 12, 2022 15:38:11 GMT -5
nikiz628, I think the days of the harsh words are a thing of the past. Kudos to you for putting it all out there and taking action. Many people would and do bury their head in the sand and let it get worse. My thoughts: 1) The # of races you have is up to you. Whatever is easiest. If you want one race now to track one or all debts, do that. Or leave them split up. 2) All of the interest rates are pretty rough. I'd make some calls to credit card companies and ask if they can reduce your rate. Worst they'll say is no, and who knows, maybe you'll save a few bucks. 3) Since all of the rates are high, I'd go with smallest balance (Menards) first, knock that out as quickly as you can, and start building that snowball. 4) May want to explore using the SOFI loan to knock out a handful of cards. And owning a SxS is pricey - trailering, gas $$, insurance, accessories, etc. Maybe shift that plan to a year or so down the road. Market may be friendlier by then too! 5) Is the Care Credit an actual credit card, or more of a long term loan? I can' believe the rate is that high! Hang in there!
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nikiz628
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Post by nikiz628 on Oct 12, 2022 15:59:53 GMT -5
nikiz628 , I think the days of the harsh words are a thing of the past. Kudos to you for putting it all out there and taking action. Many people would and do bury their head in the sand and let it get worse. My thoughts: 1) The # of races you have is up to you. Whatever is easiest. If you want one race now to track one or all debts, do that. Or leave them split up. 2) All of the interest rates are pretty rough. I'd make some calls to credit card companies and ask if they can reduce your rate. Worst they'll say is no, and who knows, maybe you'll save a few bucks. 3) Since all of the rates are high, I'd go with smallest balance (Menards) first, knock that out as quickly as you can, and start building that snowball. 4) May want to explore using the SOFI loan to knock out a handful of cards. And owning a SxS is pricey - trailering, gas $$, insurance, accessories, etc. Maybe shift that plan to a year or so down the road. Market may be friendlier by then too! 5) Is the Care Credit an actual credit card, or more of a long term loan? I can' believe the rate is that high! Hang in there! 2. This is a great idea, I hadn't even thought to do that! 4. We have tabled the SxS for now. It's clearly not a priority. 5. It's an actual credit card. The interest rate makes me sick.
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Post by minnesotapaintlady on Oct 12, 2022 16:17:45 GMT -5
nikiz628 - Have you stopped using the cards? I get the convenience and rewards part, but I don't think it's "safe" for you to keep using them for day to day stuff until you have a better handle on the spending. I am a HUGE YNAB advocate, but I am on the old software and know nothing about their web based subscription service (plus I hate subscriptions). But, one of the main principles is to get a month ahead and not spend anything that you don't already have the cash available. It's kind of tricky until you're actually a month ahead but once you get there it is soooo freeing. I've been looking at this to get my son since you can't buy YNAB as a stand alone program anymore. It looks very similar. I would definitely try and get those interest rates down either with phone calls or balance transfers.
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nikiz628
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Post by nikiz628 on Oct 12, 2022 16:32:08 GMT -5
nikiz628 - Have you stopped using the cards? I get the convenience and rewards part, but I don't think it's "safe" for you to keep using them for day to day stuff until you have a better handle on the spending. I am a HUGE YNAB advocate, but I am on the old software and know nothing about their web based subscription service (plus I hate subscriptions). But, one of the main principles is to get a month ahead and not spend anything that you don't already have the cash available. It's kind of tricky until you're actually a month ahead but once you get there it is soooo freeing. I've been looking at this to get my son since you can't buy YNAB as a stand alone program anymore. It looks very similar. I would definitely try and get those interest rates down either with phone calls or balance transfers.
Yes. I even removed them from the wallets. I need to delete them from frequently shopped websites too- thats way too convenient.
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nikiz628
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Post by nikiz628 on Oct 12, 2022 16:41:00 GMT -5
nikiz628 - Have you stopped using the cards? I get the convenience and rewards part, but I don't think it's "safe" for you to keep using them for day to day stuff until you have a better handle on the spending. I am a HUGE YNAB advocate, but I am on the old software and know nothing about their web based subscription service (plus I hate subscriptions). But, one of the main principles is to get a month ahead and not spend anything that you don't already have the cash available. It's kind of tricky until you're actually a month ahead but once you get there it is soooo freeing. I've been looking at this to get my son since you can't buy YNAB as a stand alone program anymore. It looks very similar. I would definitely try and get those interest rates down either with phone calls or balance transfers.
I just checked out the website you recommended. It very much seems to be like the envelope system, just with buckets. I like it!
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chiver78
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Post by chiver78 on Oct 12, 2022 17:31:31 GMT -5
no judgment here, this sounds an awful lot like the posts I made right around the time I finally waved the white flag. you've made the first step in admitting it to yourself, which took me a very long time to do. kudos to you.
I've got a couple questions. - is that Best Buy card similar to the Home Depot one I opened to finance a washer/dryer set? if you pay off the balance before the promotion expires, you're clear. if you don't, the interest goes all the way back to purchase date. either way, I would suggest figuring out how many payments you have left before the rate expires and just divide the remaining balance to be clear before reset.
- I would also start with the low hanging fruit (Menards, Care Credit) and it's helpful that those are the highest rates as well.
- are you/are you able to pay more than those minimums? that's what was killing me when I was near the breaking point. I've been able to chip away more efficiently now that I have breathing room.
- is there a penalty to paying back the SOFI loan early? that's a really high rate. it doesn't make sense to use that to pay down other balances with lower ones. I get the need to consolidate to make things less complicated, but this doesn't seem like a good choice. if you can pay that off early without penalty, I'd do that with the funds you moved into savings for the car you haven't bought yet. if that car is a want, put that off for now. you can't afford it.
you're here, you're being honest with yourself. now it's time to dig in and do the work. good luck with the calls to ask about lowering rates. we're here to listen if you need to vent.
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nikiz628
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Post by nikiz628 on Oct 12, 2022 18:27:00 GMT -5
no judgment here, this sounds an awful lot like the posts I made right around the time I finally waved the white flag. you've made the first step in admitting it to yourself, which took me a very long time to do. kudos to you. I've got a couple questions. - is that Best Buy card similar to the Home Depot one I opened to finance a washer/dryer set? if you pay off the balance before the promotion expires, you're clear. if you don't, the interest goes all the way back to purchase date. either way, I would suggest figuring out how many payments you have left before the rate expires and just divide the remaining balance to be clear before reset. Kinda. We never use it for anything less than 12 months 0%. I love that when I log in to my account, it shows me exactly how much is left on each purchase and when the promo expires. At this time, only $125 expires in December. Everything else is mid 2023. - I would also start with the low hanging fruit (Menards, Care Credit) and it's helpful that those are the highest rates as well. Right now we are definitely leaning towards the snowball method, because I am very motivated by getting zeros. - are you/are you able to pay more than those minimums? that's what was killing me when I was near the breaking point. I've been able to chip away more efficiently now that I have breathing room. We are paying more than the minimums on most of those. It's just getting HARDER to do that, you know?- is there a penalty to paying back the SOFI loan early? that's a really high rate. it doesn't make sense to use that to pay down other balances with lower ones. I get the need to consolidate to make things less complicated, but this doesn't seem like a good choice. if you can pay that off early without penalty, I'd do that with the funds you moved into savings for the car you haven't bought yet. if that car is a want, put that off for now. you can't afford it. I am not sure on the SOFI, but I can definitely look into it. You make a valid point on the interest rate being very high.
you're here, you're being honest with yourself. now it's time to dig in and do the work. good luck with the calls to ask about lowering rates. we're here to listen if you need to vent. Seriously, thank you! It means so much!
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chiver78
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Post by chiver78 on Oct 12, 2022 18:42:03 GMT -5
ok, so if $125 expires in December, pay that now(next pmt) and clear that. them divide the remaining BB balance across the payments. as much of a mess as I made for myself, store cards freak me out bc the T&Cs are so much worse for the consumer if you carry a balance. I didn't add anything else to my HD card til the washer/dryer balance was gone, same as with my mattres and box spring 10y prior. I had enough other shit to keep track of, I feared I'd lose track of the reset calendar.
I absolutely feel your pain on the things getting so much harder. get those zeros from the lowest balances, and you can snowball their minimums into the next. a card with a $2k balance might have a $35 payment. but so will a $5k (the exacts aren't truth, but you KWIM here) so wiping out those low balances will help you make more headway in payments once they are gone. you've got this!
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nidena
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Post by nidena on Oct 13, 2022 16:19:45 GMT -5
Ughh. (takes a deep sighing breath). I have been avoiding making this post. It's going to be a hard one for me to type up. But if I want to fix this mess I need to: 1. admit to my WIRR gals that I have screwed up. 2. Lay it all out there. 3. Formulate a plan of attack. 4. Start digging out of this hole. Step 1: Ladies, Idk if we blacked out or just went on some sort of debt splurging this year...but we are officially over our heads. I thought we were doing so well, but clearly, we still have some bugs to work out in our finances. Step 2: We were relying on our CC's way too much for the little odds and ends that we "needed" and didn't have the extra funds for. Most definitely a lot of purchases were wanted and not needed. I would put the groceries on one to earn rewards and then not go back and pay off said grocery trip. Rinse. Repeat. Rinse. Repeat. A huge screw-up we made was to BT our 2 cc's into the Discover Loan (that wasn't a bad move). The bad move was that since then, we've basically re-maxed out the original 2 cc's. We had also taken out a SOFI loan to purchase a side-by-side rec vehicle (definitely a want, not a need, even if it would be very helpful to own one). We haven't purchased one yet because the market for them is crazy (used ones sell in minutes, which is why we took the loan out first- we were losing the chance to buy one not having the money upfront). I transferred the funds for that into our savings for the time being. We are open to postponing the purchase and using the money to help us if needed. I am sure by this point, if you are still reading, you are shaking your head and forming some judgments- which I understand completely. I am literally typing out a story similar to many other people's that I've tsk tsk'd like I knew better. But, if I truly want to fix this, I have to admit all the dumb sh*t we have done recently to get us back in the hole so far. This brings us to... Step 3: This is where we are now. I am very much open to helpful suggestions on our next move based on the numbers I am about to post. Please be gentle. I am already feeling very crappy about this, I don't need any extra guilt. I know we screwed up. I know we made extremely bad choices. I will own up to ALLLLLLL of that. Now is the time to figure out where we go from here- what do we tackle first? what can we do to make this race easier? I am picking up as many substitute teaching shifts as I can to help bring in some extra income. I am also going to start doing the plasma thing for some extra side $$ as well. I also plan to continue selling all my purge items on Facebook. H has picked up 2 side jobs that will bring in approximately $15,000 in extra $$. All of this side $$ will go directly to debt payoff. Here are our current numbers. I have been racing my debts in broken-up races (the vehicle is one. CC/loan debt is another). I am not sure if that's a good way to continue or if I should just combine them ALL into one large race. Also, I have no intention of racing our mortgage at this time. We refinanced from a 30 to a 15-year loan 2 years ago when the rates bottomed out, so we are set to just ride that one out for the time being. (We currently owe $63,000 on the house). Debt | Interest Rate | Current Balance | Monthly Minimum Pymt | Discover Card | 25.99% | 15,421.93 | 321.00 | Quicksilver Capital One Card | 25.99% | 6,024.77 | 192.00 | Menards Card | 27.99% | 1,730.44 | 25.00 | Best Buy Citi Card | only used for 0% promo purchases | 1,665.02 | 38.00 | Care Credit (DS orthodontics) | 26.99% | 4,433.57 | 173.00 | Discover Loan | 12.99% | 12,736.93 | 342.00 | SOFI Loan | 22.49% | 10,144.87 | 283.00 | Truck Loan | 4.8% | 13,297.91 | 382.00 | HELOC (not sure if I want to race) | 7.7% | 8,746.19 | 135.00 | TOTALS |
| 74,201.63 | 1,891.00 |
There it is, all out in the universe in black and white. If this was YOU, what would your first move(s) be? Again, please be gentle. I will take any advice to heart and thoroughly consider all ideas given. Thank you ladies for being my shoulders to virtually lean on as I deal with the grief and anger of allowing our family to get so far off track. I really couldn't do this without you all. I would tackle Menards, first, as others have said, then Care Credit, and then Discover. It's an avalanche approach that just so happens to snowball the first balance. I wouldn't even worry about the truck, the HELOC, or anything else that has a set repayment schedule/amount. And we've all been there...in some cases, more than once.
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debthaven
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Post by debthaven on Oct 13, 2022 16:56:26 GMT -5
I wouldn't even worry about the truck, the HELOC, or anything else that has a set repayment schedule/amount.
I'm so sorry you're going through this again nikiz628 . I second what Chiver and Nidena have said. So this is what I'd do: - Your interest rates are crazy high. I'd try to lower them (either through negotiating or a balance transfer or both). - Like Nidena said, take the HELOC and truck loan off the table for now. - Try to pay the SOFI loan back Two hard questions: - Can you sell something to make a big dent? Maybe downsize one of your vehicles? - Can you use your savings to get ahead? Good luck to you. I know it's painful, but you can do this.
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nikiz628
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Post by nikiz628 on Oct 14, 2022 9:13:32 GMT -5
I wouldn't even worry about the truck, the HELOC, or anything else that has a set repayment schedule/amount.
I'm so sorry you're going through this again nikiz628 . I second what Chiver and Nidena have said. So this is what I'd do: - Your interest rates are crazy high. I'd try to lower them (either through negotiating or a balance transfer or both). - Like Nidena said, take the HELOC and truck loan off the table for now. - Try to pay the SOFI loan back Two hard questions: - Can you sell something to make a big dent? Maybe downsize one of your vehicles? We only have 2 vehicles. Mine is paid off, H is the truck loan. I wish we could go down to 1 car, but its just not possible with work and 2 kids and all the activities. I am working on selling a TON of stuff from the house though (It needs done anyway). Not quite the dent something LARGE would make, but it will help chip away.
- Can you use your savings to get ahead? We do plan to use some of our savings to help out. We don't have a ton saved up. but I am comfortable tapping in to it for help. Good luck to you. I know it's painful, but you can do this. Thank you
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Rukh O'Rorke
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Post by Rukh O'Rorke on Oct 14, 2022 13:00:24 GMT -5
chiver78 and others.... tagger you chiver because you are the resident expert on this. If I was to look at some short to mid term financing for home improvements, what options are there? I don't want to refi as I have a great rate (<3%). Heloc? I used to get offers from discover card for up to 35k loan. Any other options?
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chiver78
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Post by chiver78 on Oct 14, 2022 13:13:08 GMT -5
heh....I'm far from an expert. remember, my methods over the years allowed me to balloon my balance a la what nikiz628 is experiencing now. but I'll see what I can advise here. yikes. I wouldn't refi either, 3% is solid. I haven't explored HELOC since my first condo, when I refi'd into an 80/20 loan where the 80 was interest-only and the 20 was a HELOC, and I eliminated PMI. but my overall interest rate was ~7% b/c 2004. I'm not sure an 80/20 is an option anymore since the crash in '08-09ish, but I think you can still do a HELOC on its own as long as you have the equity available. re: loans. I get stuff from Discover (I have a checking account with them, for the debit card that lives in my phone wallet. there is never more than about $500 in that acct at any time) as well as SOFI for personal loans. there was another similar company that I got stuff from in the past, but I can't remember their name. one thing about SOFI that I do remember, they have lower rates for academic expenses. I think you still have student loans from graduate work? could you apply for that balance, maybe? get the lower rate for that, and re-channel your own payback of those loans toward the home improvements? a little of a shell game, which *is* what I'm kind of good at. not sure if any of this was helpful, but that's what I got right now. I haven't explored consolidation in a long time for anything past BTs from existing CCs. I'm curious, though. what's the ballpark in what you're looking to finance? b/c floating $5-even 10k on a CC with BT offers, at our salaries, is easier to do than all of the paperwork involved with any other of the above.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Oct 14, 2022 13:43:44 GMT -5
heh....I'm far from an expert. remember, my methods over the years allowed me to balloon my balance a la what nikiz628 is experiencing now. but I'll see what I can advise here. yikes. I wouldn't refi either, 3% is solid. I haven't explored HELOC since my first condo, when I refi'd into an 80/20 loan where the 80 was interest-only and the 20 was a HELOC, and I eliminated PMI. but my overall interest rate was ~7% b/c 2004. I'm not sure an 80/20 is an option anymore since the crash in '08-09ish, but I think you can still do a HELOC on its own as long as you have the equity available. re: loans. I get stuff from Discover (I have a checking account with them, for the debit card that lives in my phone wallet. there is never more than about $500 in that acct at any time) as well as SOFI for personal loans. there was another similar company that I got stuff from in the past, but I can't remember their name. one thing about SOFI that I do remember, they have lower rates for academic expenses. I think you still have student loans from graduate work? could you apply for that balance, maybe? get the lower rate for that, and re-channel your own payback of those loans toward the home improvements? a little of a shell game, which *is* what I'm kind of good at. not sure if any of this was helpful, but that's what I got right now. I haven't explored consolidation in a long time for anything past BTs from existing CCs. I'm curious, though. what's the ballpark in what you're looking to finance? b/c floating $5-even 10k on a CC with BT offers, at our salaries, is easier to do than all of the paperwork involved with any other of the above. thanks! likely a heloc is my best bet. I just want for some large home improvement stuff, so not to pay on the student loans. Those have been awesome last few years, lol. So glad I never refied!
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Post by minnesotapaintlady on Oct 14, 2022 14:30:30 GMT -5
heh....I'm far from an expert. remember, my methods over the years allowed me to balloon my balance a la what nikiz628 is experiencing now. but I'll see what I can advise here. yikes. I wouldn't refi either, 3% is solid. I haven't explored HELOC since my first condo, when I refi'd into an 80/20 loan where the 80 was interest-only and the 20 was a HELOC, and I eliminated PMI. but my overall interest rate was ~7% b/c 2004. I'm not sure an 80/20 is an option anymore since the crash in '08-09ish, but I think you can still do a HELOC on its own as long as you have the equity available. re: loans. I get stuff from Discover (I have a checking account with them, for the debit card that lives in my phone wallet. there is never more than about $500 in that acct at any time) as well as SOFI for personal loans. there was another similar company that I got stuff from in the past, but I can't remember their name. one thing about SOFI that I do remember, they have lower rates for academic expenses. I think you still have student loans from graduate work? could you apply for that balance, maybe? get the lower rate for that, and re-channel your own payback of those loans toward the home improvements? a little of a shell game, which *is* what I'm kind of good at. not sure if any of this was helpful, but that's what I got right now. I haven't explored consolidation in a long time for anything past BTs from existing CCs. I'm curious, though. what's the ballpark in what you're looking to finance? b/c floating $5-even 10k on a CC with BT offers, at our salaries, is easier to do than all of the paperwork involved with any other of the above. thanks! likely a heloc is my best bet. I just want for some large home improvement stuff, so not to pay on the student loans. Those have been awesome last few years, lol. So glad I never refied! HELOC rates are going up along with everything else. Mine is up to 5.05% variable now.
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TheOtherMe
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Post by TheOtherMe on Oct 14, 2022 18:04:57 GMT -5
I have a HELOC with a zero balance. The interest % on the September bank statement was 5.59% variable.
I don't think you will find a 3% rate for anything.
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ners
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Post by ners on Oct 17, 2022 17:42:31 GMT -5
Race 1 Update
59880.12 (1/3/2011 $97,382.42 MPT5)
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nikiz628
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Post by nikiz628 on Oct 17, 2022 22:04:24 GMT -5
H and I finally had a chance to sit down and finish hammering out our game plan for our debt:
Here is what we have done:
* Transferred $4,200.00 from our savings to our checking (Leaves us $1,000 in our EF) * Transferred $1,000.00 from our HELOC to our checking (I know this makes our HELOC balance go up temporarily, but the interest rate is so much lower). * I cancelled my WW subscription ($19.95 a month, the new plan sucks and I haven't used it in forever). * Paid off CARE CREDIT in the amount of $4,260.57 (i paid a min. pymt the day after I posted my numbers above) * Paid off $1,000.00 of the MENARDS balance, leaving $730.44 due. Update: Our Discover Card went over the limit, so I paid $555.93 towards that, and the remaining $444.07 will go to Menards.
Here is what we are doing next:
*Contacting all of our creditors to try and lower interest rates. * Pay off the remaining balance on the MENARDS card. * Roll the CC and MENARDS payments into the QUICKSILVER balance. * Cancel our 2 Sirius XM subscriptions (they jumped up to $30 a month EACH, no thanks). * Cancel our DIRECTV service (unless they can offer us a deal lower than what we can pay for YOUTUBE TV, which has all of the channels we are getting on DIRECT for so much cheaper) * Spend the next month (or more) using up all the food we have on hand to keep my bi-weekly grocery trips as low as possible- money saved will go towards debt. * List all of the items I am decluttering on FB for sale- all money earned from this will also go to debt
Our next payday is 10/28. H should be getting his annual raise on his pay anytime now (it always takes a couple of checks to update). I am hoping it shows up on this one so I know what we are working with moving forward.
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TheOtherMe
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Post by TheOtherMe on Oct 18, 2022 9:42:48 GMT -5
Just an FYI on Sirius, you can call them and it will cost you around $75-80 a year per account. I paid full price far too long.
Just wanted you to have that information.
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Minnesotagirl7
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Post by Minnesotagirl7 on Oct 18, 2022 13:07:55 GMT -5
nikiz628 Awesome job! So glad you and H talked and came up with a plan together. Hope you're feeling better about things, and proud of yourself for facing it and taking action. You're already on your way!!
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nidena
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Post by nidena on Oct 18, 2022 13:42:16 GMT -5
nikiz628, looks like you found a way to reallocate $200-$300/mo. That's awesome!
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nikiz628
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Post by nikiz628 on Oct 18, 2022 20:15:04 GMT -5
Just an FYI on Sirius, you can call them and it will cost you around $75-80 a year per account. I paid full price far too long. Just wanted you to have that information. We had been on one of those promos, and it ended. H uses amazon music with bluetooth in his truck 99% of the time, so he is perfectly fine cancelling completely for himself. I told him if they can go back to $5-$7 a month like I used to pay, I will keep it, but if not- bye bye.
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nikiz628
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Post by nikiz628 on Oct 18, 2022 20:27:01 GMT -5
Moving forward, I think I am going to combine all the debt into 1 race. I think this will make it easier to monitor and keep updated vs. a truck race, a cc race, a loan race etc. We will not be racing the HELOC at this time. So my old races can be removed from the list and replaced with this race. RACE #3 DEBT | INTEREST RATE | STARTING BALANCE | Discover Card | 25.99% | 15,421.93 | Quicksilver Card | 25.99% | 6,024.77
| Menards Card | 27.99% | 1,730.44
| Best Buy Citi Card | 0% Promos Only | 1,665.02 | Care Credit (DS1 Orthodontics) | 26.99% | 4,433.57 | Discover Loan | 12.99% | 12,736.93
| SOFI Loan | 22.49% | 10,144.87 | Truck Loan | 4.8% | 13,297.91 | TOTALS |
| 65,455.44 |
NikiZ628(3): 10/12/22 $65,455.44 WIR284
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TheOtherMe
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Post by TheOtherMe on Oct 19, 2022 9:18:14 GMT -5
Just an FYI on Sirius, you can call them and it will cost you around $75-80 a year per account. I paid full price far too long. Just wanted you to have that information. We had been on one of those promos, and it ended. H uses amazon music with bluetooth in his truck 99% of the time, so he is perfectly fine cancelling completely for himself. I told him if they can go back to $5-$7 a month like I used to pay, I will keep it, but if not- bye bye. I call every year and I have had the deal for at least 10 years. I just tell them I want the $5 deal. I think it's actually $6 a month now and I lock it in for a year. They don't even try to upsell me. I keep track of the date and call a few days before the ridiculous rate is going in to effect. One year I was a day late and they refunded me the day at the higher rate. Good luck.
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Minnesotagirl7
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Post by Minnesotagirl7 on Oct 19, 2022 12:43:41 GMT -5
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nidena
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Post by nidena on Oct 19, 2022 18:03:57 GMT -5
Just need $6,808.85 to make that goal. Or $3404.43/month. You got this!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Oct 20, 2022 17:54:42 GMT -5
thanks! likely a heloc is my best bet. I just want for some large home improvement stuff, so not to pay on the student loans. Those have been awesome last few years, lol. So glad I never refied! HELOC rates are going up along with everything else. Mine is up to 5.05% variable now. if I can get <6% i think think that will be good.
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Post by minnesotapaintlady on Oct 20, 2022 20:55:58 GMT -5
HELOC rates are going up along with everything else. Mine is up to 5.05% variable now. if I can get <6% i think think that will be good. But HELOCs are usually variable. Mine has gone up from 4% to 5.5% the past 2 months.
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Minnesotagirl7
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Post by Minnesotagirl7 on Oct 21, 2022 9:38:13 GMT -5
Shoutouts! mourningcloak - Congrats on paying down to under your starting total! minnesotapaintlady - Wow, definitely on a mission! Awesome progress! chiver78 - Woo hoo under $30k!! ners - Great updates, and mortgage dropped under $60k!! nikiz628 - Want to say great work so far, and kudos again for facing it head on. (Also, you already had a race #3, so I changed your new race to #6.) Smileys Link: Smileys
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