WOMEN IN RED RACERS

[nidena]

Last update for 2023!

No large purchases made since my last update with the exception of a vet bill for $700.

nidena: 12/28/2023 $52,644.79 (8/22/2007 $223,361.20 N453,503,NE648,NPT25)

It's looking like I'll be able to pay off both CCs this month so that's another month of no interest.  And, while, I haven't been able to pay them off EVERY month, I am paying them off far more often than ever before so I consider that to be tremendous progress on my part.  My car is nearly at a balance of less than $10,000 as is the PL that I took out back in August.  Every month is a chance to reassess and reattack.

Have a great weekend and Happy New Year!!

[Rukh O'Rorke]

Dec 28, 2023 21:56:48 GMT -5 nidena said:

Just spent a little over a week and my dad and stepmom's house in NV.  It was definitely not as relaxing as in years past.  Dad's dementia is quite bad.  I got there Tuesday.  Wednesday morning, while stepmom was at an appt, he must have asked me a dozen times, "When did you get here?"  "Yesterday, Dad."  "Where was I?"  "You drove the car, Dad."  I changed the subject by asking him why he joined the Army.  That kept him engaged for quite some time since he spent a few decades serving.  But, almost every day, he didn't know who his wife was.  They've been married for 20+ years.  I would have to greet him with my distinctive "Good morning, Daddy-O!" and get him reoriented to date and time.  I'll have to do it via phone call now that I'm home.

On the money front, I successfully spent none except to pay for a lunch out with my brother, SIL, and niece.

In another facet of the money front, I've sold a few things online and will be resuming that next week.  So far, it's netted me just over $300.

that sounds very stressful for all of you.

[TheOtherMe]

Most likely your dad is not going to be able to stay in the here and now.  His mind is in whatever year it is in the moment.  

The professor I read who sends out emails on dementia each week says it does no good to try to orient them to the current time.  It makes them feel bad.  Let them be where they are.  You will also get frustrated.  Try to not take it out on him, but know that sometimes you will.  

Watch over him for when he is no longer safe in his home.  It's easiest to determine where he might go if it isn't an emergency.

I so wish I knew about her newsletter before I walked with my dad through dementia.  I know we did all kinds of things wrong.

[nidena]

If it works, we're going to continue bringing him to the present.  He's not living in a previous year.  He just doesn't always recognize his wife.  He does recognize me and my brother.  We'll reassess when a simple conversation doesn't reorient him.  And it really is a simple conversation.  Me, saying "Good morning, Daddy-O," brings him back into now.

[Minnesotagirl7]

nikiz628- I also vote for option #2! That interest rate is a killer; #1 goal should be to kill that debt as quickly as possible. Good luck!

[Minnesotagirl7]

2023 Goal Update

1. Mortgage under $170k.
    Close, but did not hit this one. We spent more than expected throughout the year, and I didn't want to put us in the position of not being able to pay off our daily use credit card or having to borrow from savings. So we had less extra to put towards the mortgage. Still happy with this year's progress though!

2. Save ahead for known expenses.
    This went really well. Was very concious of upcoming debts and made it a point to have the money set aside for them.

3. Down to weight lostt target #1 by 10/24.
    Not even close.

4. Less time on my phone.
    Was better this year, but still needs some work.

5. More time for self care.
    Slight progress, but want to do better next year.


Happy new year everyone!

[lark1964]

Happy New Year! 

So... my resolutions include enjoying my life, something I have often said I would do, but I've always been so deep in debt, it wasn't something I did without guilt.

So - I'm not going to feel guilty, that is a promise I am making to myself.

And how will I do that? I won't use my credit cards for things I can do with cash. And I have been doing that plenty this past year as I've caught up to the madness, but I have to now wean myself off my debit card...

It's a bad habit: I say, "I have this budget," and then... I whip out my debit card and screw up my budget. I still use cash, effectively, but I need to actually stop using plastic as a fast fix. If I don't have the green in my pocket, I cannot spend plastic.

I now have only four debts, my Discover card, my bank loan, my mortgage, and my car payment. I have money saved to cover problems if they arise, but I am not going to add to my debts, anymore, not if I can help it. And I've decided I really do need to put my car into my balance, because I am going to make an effort to get either a HELOC or a lower interest car loan with the bank in the next month. My total will be a little confusing, though, I think I asked this before, this is my total:

lark1964 [2]: 12/18/2023 $41,520.49 (4/13/2023 $80,738.38 C290)

Does it remain [2] when I add in the car, or do I make it [3]?

Anyway, I have also made a fixed payment to Discover for $450/month, which sounds like nothing, I know (especially with that damned interest rate, nikiz628 can attest!), but that's a fixed payment coming out of my primary checking account. I'll also be adding a payment from my Lyft account for 5% of my earnings every month, this will be on top of the fixed amount. I earn $300/week, that's easy, this means $15/week, meaning an additional $60/month. And for whatever else I earn over that $300/week, that will mean that much more. For December I just added $76 to the $450 which was just cleared both banks today, my card statement on the 10th will reflect $526 paid.

So - wish me good Lyft earnings and maybe another paid gig here and there to clobber Discover!

And... update on the car business, I've talked with the lender, the insurance, etc., the balance due is not so bad as the person who called me told me, it's not $2400, it's $1200, I'm still suing the Gap Insurance, but - I am paying it off myself right now, it will be cleared off my credit, and my attorney can pursue them at his pace. I don't doubt he'll skewer them, but I'm not going to let it affect me negatively.

Still pisses me off, though.

[Minnesotagirl7]

lark1964- It remains (2) if you're adding the car to the current race. Love your resolutions for the year!

[Minnesotagirl7]

2024 Goals

Pretty simple this year:
1. Mortgage under $135k
2. Save ahead for known expenses


DH has gotten involved in our budgeting and finances. For years he's left me to handle things on my own, and we've done well. He stumbled onto Dave Ramsey's podcast (so ironic, after all my time with WIRR), and got a bee in his bonnet about changing things up. We'll see how it goes. I'm not a fan of change, but DH is pretty smart, so we'll see if his methods pan out. 


Looking forward to seeing everyone's updates and goals!

[chiver78]

updating earlier than usual, since it's just the one balance on the race. I just put in the request for the balance transfer I mentioned I'd be doing in 2024, as well. I did it a little earlier than planned, as I needed to roll some of my daily use card onto it as well. December was a bit ugly with a bunch of pricey vet visits, booking a cruise last minute and paying in one shot, and a few other things around the house. it will be fine, I just didn't need all of it hitting at the same time before I'd had time to replace savings $ from the landscape work a few weeks earlier. 


chiver78 1/2/24  $7775.63 (5/9/20 $138,495.31)

[Rukh O'Rorke]

good idea eveyone to talk about NY resolutions here!

My debt resolution for 2024 is to pay 10k over minimum monthly payments. That kind of occurred to me as a good thing to do....until I realized that I've already "spent" my anticipated big RI check in mar/apr 3 different ways in my head! I want ibonds, I want to fully fund my SEP-IRA, I want to pay off a short term loan from my son (that is turning into long term.....) and I want to pay extra on the loans.

So I won't be able to make a big payment all at once like I wanted to, but will keep the resolution and try to do it another way.

[lark1964]

Nov 6, 2023 12:24:06 GMT -5 lark1964 said:

Nov 6, 2023 10:44:05 GMT -5 nidena said:

Had an arborist out to look at my three trees to see about trimming, thinning, and/or removal.  I knew one HAD to go but he said a second one is rotting from the inside out...showed me the gaping holes that are allowing water to collect inside like a rain bucket.    The price is very reasonable.  I remember having five fir trees removed back in 2000 and 2001 and that cost $2000 so I don't consider what they quoted to be too high.  I do need to wait a bit since I just spent $2500 on auto insurance, a new laptop, and a plane ticket. 

My cherry tree in Philly cost me $400 bi-annually to trim, they shaped it, made it grow pretty, and what averaged out to $200 a year was just fine with me!

But I drove by the house a couple of months back, they over-trimmed it or something, did a terrible job, and the tree looked positively wilted. It took 15 years of nurturing to bring that sapling into full-bodied beauty that everyone in the neighborhood loved, and only one really bad trim by someone who didn't know what they were doing... I hope it grows back, it truly was a lovely tree.

I drove by the house last week: they chopped it down, completely. Probably after it looked so wilted, they decided to just go for broke and kill it completely. The street looks so devoid of life, now, no tree, and I noticed another house that had a huge old Christmas tree they'd planted - back in the days when people used to buy them and plant them after the holidays - has also been chopped down. Except for some shrubs, now, the street has nothing in the front of any of the houses. It looks so stark... 

[lark1964]

I want to be clear about something: many years ago - what was it nidena , debthaven , Minnesotagirl7  about 15? - I found WIRR, and I learned how to really take control of my money and be honest about my debts. And I was horribly in debt at the time. I learned the term "snowball", I learned how to be practical about my bills, to stop spending more than I could afford to pay, I learned to negotiate, I buckled down and took on a second income role to help me get out of the mess. And I did.

Now here I am, years later, and while it's not the same crippling madness it once was, I know how to handle my debt. Even with all the expenses I've had the last two years, I know how to review things without panicking and find resources to take command of the situation and move forward. I've learned to breathe. And I learned it here.

To anyone new to WIRR: breathe. Relax. Learn. Be patient with yourself, and when others on the board offer advice, know that we've been through it, too, we are not trying to criticize, or make light of your situation, we're trying to offer you some practical ideas based on the experiences WE have all had. And we've had a few doozies, so - you truly are NOT alone. 

[Minnesotagirl7]

[muffyinthered]

NY resolution:

Get through January ( I have quarterlies and property taxes due)
Pay down mortgage to 145,000
Pay off all bank transfers by Dec. 2024 or before they expire.

[nikiz628]

Jan 3, 2024 10:53:46 GMT -5 lark1964 said:

I want to be clear about something: many years ago - what was it nidena , debthaven , Minnesotagirl7  about 15? - I found WIRR, and I learned how to really take control of my money and be honest about my debts. And I was horribly in debt at the time. I learned the term "snowball", I learned how to be practical about my bills, to stop spending more than I could afford to pay, I learned to negotiate, I buckled down and took on a second income role to help me get out of the mess. And I did.

Now here I am, years later, and while it's not the same crippling madness it once was, I know how to handle my debt. Even with all the expenses I've had the last two years, I know how to review things without panicking and find resources to take command of the situation and move forward. I've learned to breathe. And I learned it here.

To anyone new to WIRR: breathe. Relax. Learn. Be patient with yourself, and when others on the board offer advice, know that we've been through it, too, we are not trying to criticize, or make light of your situation, we're trying to offer you some practical ideas based on the experiences WE have all had. And we've had a few doozies, so - you truly are NOT alone. 

Ive been back here for 10 years this year, so 15 is probably very accurate. 

[chiver78]

15ish is right for me as well, my original tagline was dated 8/20/08 and I'd lurked for awhile before jumping in. 

and yes, definitely want to echo the reminder to breathe. when my bank mess blew up in 2019, I needed that reminder almost daily, b/c I was in so deep that I had no clue what I was going to do. and, like Lark, my own recent stint of bleeding money isn't going to cause me to backslide into old/bad habits. I am way better equipped to check myself now than I was at any point prior, and it's just not going to be a problem moving forward (barring something catastrophic, anyway). to the newbies - you'll get there, too 

[nikiz628]

2024 Race Info: RACE 3 

Debt	Interest Rate	Starting Balance
Citi Best Buy	0% Promos Only	4663.23
Quicksilver	28.24%	6482.19
Discover	28.24%	15124.49
Menards	30.24%	2340.05
Citi Diamond	0% BT until *	2715.27
Discover Loan	12.99%	9432.97
Sofi Loan	22.9%	8507.08
Van Loan (Ally)	9.29%	31082.93
Truck Loan (CU)	4.8%	8265.87
	TOTAL	88,614.08

NikiZ628(3): (1/4/23 $88,614.08 WIR302)

Seeing it all together like that makes me want to  , but accountability is #1. Lets do this! 
As far as how long weve been around these parts. I was here in 2008 under a different s/n. I came back in 2013 with this account. WIRR really has been a lifesaver for me. 

[nidena]

I started tracking in 2007, shortly after the cruise where I financed a bunch of art to the tune of nearly $20,000.

For this year, I'd like to get a new washer and dryer, new mattress, get my PNC PL down to $5000, and get the two dying/dead trees removed from my front and backyard.  That's going to cost $10k-$15k.

I'm hoping to offset the tree departures by planting a couple cherry trees and a couple nectarine trees.  I was considering persimmon trees but I don't see me eating that fruit if/when it starts growing years from now.  Cherries I'll eat.

[debthaven]

H will be bringing home approx. $12,000 from a side hustle within the next month. We are discussing the best way to use this.
We have a couple ideas:

1. Pay off his truck balance- currently $8,624.50 with a 4.25% APR (payment is $382 a month). Use remaining money to bump savings/pay towards smaller balances.

2. Pay off a BIG majority of our Discover card- currently $15,124.49 with a 25.99% APR (minimum payment is right around $400 a month).

He's leaning towards option 1, I on the other hand am leaning toward option 2 because the interest is killing our progress.
If it was YOU- which would you choose?

nikiz628 seeing your table, I'm wondering whether it might be better to knock out Quicksilver and Menards instead, and put the rest on the Discover? But, I don't know what your minimum payments on those are.  

Just a thought. 

[Sunnyday]

Hi,

I'm going to incur these costs soon, and I'm willing to go into debt to pay for trip and surgery, so I'll pre-emptively start paying the debts down now.
Listing them here for accountability. 

Expense	Amount desired	Currently saved
3-month emergency fund	12,000	12,000
Children braces	3,000	800
Big trip with kids	10,000	0
Cosmetic surgery	10,000	0
Private school	10,000	0
Dog	10,000	0

I've got a long way to go..... 

[minnesotapaintlady]

Jan 5, 2024 1:34:48 GMT -5 Sunnyday said:

Hi,

I'm going to incur these costs soon, and I'm willing to go into debt to pay for trip and surgery, so I'll pre-emptively start paying the debts down now.
Listing them here for accountability. 

Expense	Amount desired	Currently saved
3-month emergency fund	12,000	12,000
Children braces	3,000	800
Big trip with kids	10,000	0
Cosmetic surgery	10,000	0
Private school	10,000	0
Dog	10,000	0

I've got a long way to go.....

Why would you go into debt for this stuff when you just got a 350K divorce settlement?  You'll just end up paying more for everything borrowing to do it.  Also, assuming the private school line is an annual item, it seems like that would be something that should be a budget line item unless that's it 10K is the total you need for the rest of their schooling?

[Sunnyday]

Jan 5, 2024 9:18:14 GMT -5 minnesotapaintlady said:

Jan 5, 2024 1:34:48 GMT -5 Sunnyday said:

Hi,

I'm going to incur these costs soon, and I'm willing to go into debt to pay for trip and surgery, so I'll pre-emptively start paying the debts down now.
Listing them here for accountability. 

Expense	Amount desired	Currently saved
3-month emergency fund	12,000	12,000
Children braces	3,000	800
Big trip with kids	10,000	0
Cosmetic surgery	10,000	0
Private school	10,000	0
Dog	10,000	0

I've got a long way to go.....

Why would you go into debt for this stuff when you just got a 350K divorce settlement?  You'll just end up paying more for everything borrowing to do it.  Also, assuming the private school line is an annual item, it seems like that would be something that should be a budget line item unless that's it 10K is the total you need for the rest of their schooling?

The dates are all out in the future, so I don't think that I will go into debt for most of it.
Children braces are at least a year out, so I don't even know the cost of it. I'm guessing what the cost would be.
The trip is about 2 years out.
The cosmetic surgery, I'm hoping to do in the next year, so hoping to use half the emergency fund, which is quite generous and saving the rest of it.
The school is already paid for 2023/2024, but I need to start saving for the next year. It's only about 5K, but the second child may or may not choose private school, so I have a buffer there.
The dog, I can't get until I get a house as my apartment won't allow it.Getting a house is at least 2 years out.
I don't want to touch the settlement because most of it is a retirement rollover. I feel like my retirement saving is now done.
I shouldn't contribute anymore to my retirement for a while.
The rest of the cash, I'm holding on to for house downpayment. Also to keep that separate as I think that would be considered gains from the sale of the former family house.

[minnesotapaintlady]

Sunnyday - I mean, whatever works for you personally to motivate you, but I think the WIR Savers Thread makes more sense than debt racers for your situation.

2024 Savers Thread

[Minnesotagirl7]

Sunnyday , have you thought about joining the Savers group? Seems more fitting, since these aren't debts. And has a more positive spin on it! 

ETA, minnesotapaintlady beat me to it!

[Sunnyday]

You're right, I didn't realize that there was that thread. I'll post there instead. Thank you! 

[Minnesotagirl7]

Shoutouts!


nidena- Nice update, numbers went down a nice chunk!

chiver78- Almost 95% paid off!

nikiz628- You’ve got this!! Do you have a plan of attack? (FYI, you’ve had a couple restarts, this is race #7 for you.)


Link to Smileys

[lark1964]

Jan 5, 2024 10:20:01 GMT -5 Sunnyday said:

The rest of the cash, I'm holding on to for house downpayment. Also to keep that separate as I think that would be considered gains from the sale of the former family house.

That all depends - if you originally bought the house less than two years before you sold it, that could be gains. But if it was longer than 24 months, depending on your state/county, etc., it probably is not. You should ask an accountant. Rolling in into a long term savings (even just six months) might preclude any gains taxes, as well. And - good luck, one day I hope to be in the Savers, too! 

[TheOtherMe]

From her other thread, I think Sunny is in Canada.  I don't know about their tax laws.

[nikiz628]

Jan 4, 2024 18:26:41 GMT -5 debthaven said:

H will be bringing home approx. $12,000 from a side hustle within the next month. We are discussing the best way to use this.
We have a couple ideas:

1. Pay off his truck balance- currently $8,624.50 with a 4.25% APR (payment is $382 a month). Use remaining money to bump savings/pay towards smaller balances.

2. Pay off a BIG majority of our Discover card- currently $15,124.49 with a 25.99% APR (minimum payment is right around $400 a month).

He's leaning towards option 1, I on the other hand am leaning toward option 2 because the interest is killing our progress.
If it was YOU- which would you choose?

nikiz628 seeing your table, I'm wondering whether it might be better to knock out Quicksilver and Menards instead, and put the rest on the Discover? But, I don't know what your minimum payments on those are.  

Just a thought. 

I am open to any and all ideas for a plan of attack with that payment when it comes lol. 

Minimum payments are roughly: 
Discover $400 
Quicksilver $222
Menards $86