Debt Dumpers - 2013

[yupikgal]

This is the first time I've posted here, but just have to share! For the past 3+ years we have been paying $400 a month to get rid of old credit card debt. This month is our last payment! I'm so excited! It felt like it would never happen!

CONGRATS! I can't wait until I can post that same thing!!

 

[ruadisneyfan2]

Congratulations-You definitely need new furniture with a new house. Way to go.



I love reading your posts, you life style is so much different than mine, yet the same in some ways. I really enjoy reading how you budget and live in Alaska.


Now for mine.
I cut way back on Christmas shopping, and nothing is on credit, everything is paid for. I just have to buy 2 more presents, one for each of my sons. Last week my oldest son asked me what I wanted, and I gave him at least 4 jobs around the outside of the house and I told him that will mean more to me, than him buying me a gift. He actually made money, when he took a bunch of steal posts to the recycling center and turned in steal and aluminum. Now I just need to figure out what to get him for Christmas.

I have a questions, we have all of our credit cards paid off. So, do you still use your credit card for points and pay the card off each month, or do you totally get rid of the cards. I am putting everything on my Disney chase card each month, like utilities, groceries, gas, presents, but I pay it off each week. Sometimes I wish I didn't have it, because I will use it to wash my car, little things like that and sometimes, I will look at my statement on line, and think damn, that is a lot to pay off. If I didn't have my card with me, would I be making these smaller charges?

I just want to say I still use my Southwest Airlines visa for everything to earn the points. We even put our cable bill & cell phone on it. It's great that when we do travel, we rarely pay for 4 seats. Usually we only have to buy just one or 2. I pay my bill every week and sometimes more often if I can. I'd be in big trouble if I did it the old way and waited until the statement came in the mail to check it. I check my balance online almost every day & I'm very careful to pay it off every month. The rewards we get, multiple free flights, more than pay for the $59 annual fee.

 

[gracie1]

Bumping. Haven't seen any posts on here in a few days! How is everyone doing? I know it's a busy time of year right now!!

 

[Deffenm]

Everytime I take a step forward something happens and defeats what I was doing. I don't go into more debt but I can't reduce it either. I just hope 2014 I can catch a break for once.

 

[gracie1]

Everytime I take a step forward something happens and defeats what I was doing. I don't go into more debt but I can't reduce it either. I just hope 2014 I can catch a break for once.

Just look at the positive side- your not accumulating any additional debt which is a great thing!! I know what you mean though. I got my debt paid off back in May and then get hit with major medical expenses.
Wishing you good luck in 2014!!

 

[Deffenm]

Thank you for the good luck. I am proud because we did pay off personal loan and truck payment. Next year we are on target to pay off last personal loan and hopefully the 2 small credit cards we have. That will clear up all debt but house, DH's truck payment, and the RV. We only have 8 more years left and the house will be paid for! We are making progress I just want it to move faster.

 

[gracie1]

Thank you for the good luck. I am proud because we did pay off personal loan and truck payment. Next year we are on target to pay off last personal loan and hopefully the 2 small credit cards we have. That will clear up all debt but house, DH's truck payment, and the RV. We only have 8 more years left and the house will be paid for! We are making progress I just want it to move faster.

That is fantastic that you have paid off those other loans!! You will get there.... And just the thought of your house being paid off in iust 8 years is exciting!!

 

[SpaceGirl]

I'm here (hanging head)...I've been BAD but it was fun...over 102 gifts wrapped, bowed, tagged and delivered to correct households. Went over budget...so for the next few months I will be on a very tight budget, only good thing I was able to have 0% interest on the CC.

Christine
Your new HOME is Beautiful. LOVE IT....You ALL should be SO Proud of yourselves

Deffenm
Just keep working on it, there will be an end to it. We all must keep working it's an ongoing battle.

Everyone keep up the good work..

I'll be here in 2014

Beckie

 

[summersalt]

I'm still here.... Haven't posted in awhile but I am still dumping debt like crazy. I think I'm down about $7500 since my last post. Its amazing how much a budget helps! I never realized how much money we were just blowing??? Where did it all go??

Oh and I AM MORTGAGE FREE! woohoo!!!

 

[Eureka]

Our credit card has gotten out of control. We did some large gifts for the kids that were really for all of us (sports tickets) and we already had a balance, so it's not good. We have talked about cutting spending after the holidays and trying to get it down.

We did hit the "magic number" I wanted in savings but then took some out to put a deposit down on a beach house for our summer vacation, which is OK because it was planned spending and what we are keeping this savings account for. We'll be back to that number in a few weeks, but there will probably be some repairs on our minivan in the near future, which will also come from this account. Our current plan is at the end of each month, take what is above and beyond my magic number and throw it at the credit card in addition to whatever else we can come up with from our paychecks. (Currently a little bit from each of DH's checks goes into savings) When we fall below the number due to vacations, car repairs, etc. (which is really just a comfort zone thing for me; DH is not worried about our short-term solvency at all and is looking more at our long-term plans), we'll save back up until we hit it again and then draw from it again for the credit card.

I like that he respects my wanting to keep that balance even if it's not as important to him. But then again, I have gone along with all of his college and retirement planning, so what goes around comes around!

Happy holidays everyone. We have gotten through two rounds already (Chanuka and DS#1's 13th birthday) and now just need to get through Christmas.

 

[Eureka]

I'm still here.... Haven't posted in awhile but I am still dumping debt like crazy. I think I'm down about $7500 since my last post. Its amazing how much a budget helps! I never realized how much money we were just blowing??? Where did it all go??

Oh and I AM MORTGAGE FREE! woohoo!!!

Great job! I am jealous about the mortgage. I think we have 10 or 11 years left, I can never remember unless I look it up.

 

[gracie1]

I'm here (hanging head)...I've been BAD but it was fun...over 102 gifts wrapped, bowed, tagged and delivered to correct households. Went over budget...so for the next few months I will be on a very tight budget, only good thing I was able to have 0% interest on the CC. Christine Your new HOME is Beautiful. LOVE IT....You ALL should be SO Proud of yourselves Deffenm Just keep working on it, there will be an end to it. We all must keep working it's an ongoing battle. Everyone keep up the good work.. I'll be here in 2014 Beckie

Wow! That is a lot of presents!!!

 

[gracie1]

I'm still here.... Haven't posted in awhile but I am still dumping debt like crazy. I think I'm down about $7500 since my last post. Its amazing how much a budget helps! I never realized how much money we were just blowing??? Where did it all go?? Oh and I AM MORTGAGE FREE! woohoo!!!

You are so lucky to be mortgage free!!! Way to go on dumping your debt!

 

[SpaceGirl]

Wow! That is a lot of presents!!!

I know...but that also included my Mother's gift's for the family. I was talking to one of my sisters a few days ago and she said "How do you know what Mom got everyone?" I said because "I did all her shopping and wrapping for her..."

 

[gracie1]

I know...but that also included my Mother's gift's for the family. I was talking to one of my sisters a few days ago and she said "How do you know what Mom got everyone?" I said because "I did all her shopping and wrapping for her..."

I do the same thing here! Whatever my mom buys for my dad I wrap and the same with my dad. Although my dad really does need the help in the wrapping department

 

[ruadisneyfan2]

I'm still here.... Haven't posted in awhile but I am still dumping debt like crazy. I think I'm down about $7500 since my last post. Its amazing how much a budget helps! I never realized how much money we were just blowing??? Where did it all go??

Oh and I AM MORTGAGE FREE! woohoo!!!

Awesome!! Congratulations!!



We're hanging in there. On Thursday I paid off my Kohls charge and our Amazon card (for the 2nd time due to our kitchen faucet dying). Yay!
That's the good news. The bad news is that I spent more than what I had set aside for Christmas and throughout the month. Just a lot of extra things that are not part of what we typically spend each month. Ds13 needed a coat, MIL's birthday, etc.
I use my SWA visa for everything and I'm really good at making sure it's paid off each month but this cycle ending 12/28 is going to be a whopper. I'll need to tap 3/4ths of my emergency fund AND divert my snowball for most of the month of Jan to get it paid off in time.
So then instead of paying off our next 2 cards by the end of Jan like my plan shows, I will be just starting to pay back our emergency fund.
Dh worked a lot of OT in the recent snow so that will help. Also my Grandmom is very generous to all of us at Christmas and though I don't count my chicks before they hatch, if it's the same as last year we'll get through it ok. I can live very thrifty when I need to.

Happy holidays everyone. Wish you all health & happiness for 2014. And of course, progress at debt reduction.

Just keep swimming!

 

[xCourxCorex]

I have one final extra debt payment to make this coming week once I get paid, and that will be the last for 2013. So I decided to add up how much I've paid down on my two big debt areas this year.... (Drumroll, please)........ $24,000!!! All since January 1, 2013!!

After this last 2013 payment, and the automatic monthly deduction on 1/1/2014, my car loan balance should be only roughly $1100... I can wipe it out in January and be done with it - one year after my first automatic payment started (bought in November '12 with cash down but monthly payments started January '13). And my student loans are down to three sub-loans vs four, with nearly $6,000 knocked off this year.

I can't wait to start our 2014 thread... My focus for the new year (once the car is totally paid for in full) is to build up my emergency fund another $6,000 and start a house down payment savings account!

 

[Stuarotra]

Hi all!! I started reading this thread back in October. I started on page one and was so inspired by all of you!!!

My husband and I have been working on getting out of debt. We were married in January 2013. We both have had previous marriages which left us with a lot of debt.

I had been working on reducing mine for several years before we met. He was newly divorced so he had a bit more to deal with than I did.

We had both taken the Dave Ramsey class and knew what the plan of action should be. I guess we just needed each others encouragement to get things started.

So far this year, we knocked out $20,000. We have the $1,000 emergency fund and we still have one of my husbands cc and car to go which should be done by next year.

We also bought a house that we close on in January. We had to go there for his job, so relocating is going to slow us down a bit but I will keep on reading these posts and stay encouraged. I'm impressed with how well everyone is doing. Keep up the good work!! I will definitely be joining the 2014 thread.

Merry Christmas everyone and Happy New Year!!

 

[BernardandMissBianca]

I have one final extra debt payment to make this coming week once I get paid, and that will be the last for 2013. So I decided to add up how much I've paid down on my two big debt areas this year.... (Drumroll, please)........ $24,000!!! All since January 1, 2013!!

After this last 2013 payment, and the automatic monthly deduction on 1/1/2014, my car loan balance should be only roughly $1100... I can wipe it out in January and be done with it - one year after my first automatic payment started (bought in November '12 with cash down but monthly payments started January '13). And my student loans are down to three sub-loans vs four, with nearly $6,000 knocked off this year.

I can't wait to start our 2014 thread... My focus for the new year (once the car is totally paid for in full) is to build up my emergency fund another $6,000 and start a house down payment savings account!

That's awesome!!!

I did mine this morning too. We've paid off $18,804.74 Now this includes cars an home but still, it's awesome!
I will have 2 credit cards paid off hopefully in February. But January will be tight, DH's job currently pays at weeks end, but in January they are going to week in a rears so we will only get 1 weeks pay the first of January.

So who wants to start the new thread?

 

[crazycatstacy]

Good job on everyone paying so much off and staying on track. I have not done so great this last couple months- I keep spending a little here and a little there but I am super excited to start the new year off with a good budget and to get debt free!