Debt Dumpers 2022

[DisneyMandC]

Completely agree. It's been 18 months since my dad died now and sometimes I still think it's absolutely absurd that I haven't talked to him in that long. Sometimes I feel like I want to demand answers from someone on how this could be possible!

 

[Tygerlilly]

Almost 2 weeks after he passed and we finally got the permits and flights lined up to transport him from OK to PA. We left Saturday and have stopped off in Indiana to see DH's family for a couple days (we're staying with his brother, so no costs other than some food). But it's only 5.5 hours from here to where we are going in PA.
I finally got everything set with the funeral home. My mom wasn't being super productive with it, so I called and spoke to the director and I let my mom know her one option and that was it. It sounds bad, but most of my stress will be gone when the funeral is over.

 

[ruadisneyfan2]

Almost 2 weeks after he passed and we finally got the permits and flights lined up to transport him from OK to PA. We left Saturday and have stopped off in Indiana to see DH's family for a couple days (we're staying with his brother, so no costs other than some food). But it's only 5.5 hours from here to where we are going in PA.
I finally got everything set with the funeral home. My mom wasn't being super productive with it, so I called and spoke to the director and I let my mom know her one option and that was it. It sounds bad, but most of my stress will be gone when the funeral is over.

It’s not bad. You’re dealing with a lot. My dad was pretty non-functional for a while. It’s frustrating but dont be angry at her.
Just take one step at a time and adjust priorities as needed.
Some day, your mom will look back, hopefully with gratitude, and realize how much you helped her through this time of crushing grief.
That’s what family is for.

 

[barkley]

it's been quiet on this thread. hope everyone is well and comfortable. we sit surrounded by LOTS of snow-looking at a bit more headed in today and then an arctic blast that will have us into the single digits (pre-windchill factored in). stay safe everyone.

 

[ruadisneyfan2]

it's been quiet on this thread. hope everyone is well and comfortable. we sit surrounded by LOTS of snow-looking at a bit more headed in today and then an arctic blast that will have us into the single digits (pre-windchill factored in). stay safe everyone.

BRRR!!
I guess our day of rain isn't so bad after all.
I got my Christmas tree and decorations up yesterday and got some wrapping done today.

 

[aleh021]

2022 definitely didn't go as planned financially. I think I spent more then intended. Lol but its alright. Most of the spending was towards some home projects. Hoping 2023 goes a bit smoother.

 

[pblack]

I went ahead and started the 2023 thread for those that are ready to post their goals for next year: https://www.disboards.com/threads/debt-dumpers-2023.3903771/

Please post your 2022 wrap-ups in this thread.

 

[pblack]

We get paid this week and that would usually be when I would do a mid-month update, but I don't think I'll honestly have much to report on. Still just trying to keep our heads above water with all the costs that come with the month of December. My DH is now going to the 49ers game on Christmas Eve with his brother, so that's a cost I wasn't expecting. I'm not happy that i'll now be solo on Christmas eve (I was very excited that he finally had it off this year since it's on a weekend), but I wasn't going to tell him he couldn't go. I'm not a football fan and he hasn't been to a game since they moved to Santa Clara and Levi Stadium, so it is what it is. I'll be taking the week after new year's off and i'm debating going to out to Texas to see my BFF, but the flight is kinda pricey so I haven't been able to pull the trigger yet. We do tentatively have a Vegas trip planned in January for my DH's birthday, but that may change to something else. He hasn't decided yet. Hope everyone is doing well and has their Christmas (or other holiday) shopping done and out of the way!

 

[Tygerlilly]

I'm giving up for the rest of the year I think. This trip has been a little more costly than anticipated. We're heading back home tomorrow and are planning to stop two nights instead of one. And food has been SO MUCH MORE than I even considered it would be.

However, this last month has also given me a lot of clarity and renewed sense of determination to get rid of debt and clutter in my life. And instead of "things" we will be focusing on more family time and travel. Once I'm home I'm going to really sit down and make some kind of plan of action and solid travel plans for 2023.

 

[piglet1979]

This year we were not able to save really anything. Between DD and I we had lots of medical stuff. Then throw in school fees for 2 kids that are taking a total of 3 AP classes, playing 2 sports and now DS playing club soccer. DS does have a job now and we are having him pay and small part of his club soccer. We are trying to teach him to save, plan and budget. So far he is doing pretty good. We did get one thing accomplished this year. We were able to pay off the 2nd loan (the smaller of the 2). DH figured it out and we will have the house paid off in about 6 years. So one big accomplishment. I will call that a win for the year we had.

 

[slightly_obsessed]

Tygelilly - I am so sorry for your loss and how much has falling on your shoulders since. Losing a parent is hard enough Sending good thoughts your way.

I knew it had been awhile since I had checked in but didn’t realize it had been 5.5 months! Probably part of why I have fallen off the wagon on some of my goals. Multiple slow months for my husband at work and a surgery for him at the end of October didn’t help either.

As a wrap up for the year, I am happy that I was successful with these two financial goals -

1. The primary debt dump I was focusing on was one of my husbands student loans. During 2022, I paid off just shy of $6000, bringing the total down to $3570.33. Hopefully, I will be able to pay this off next year, 6 years early.

2. 401k/403b accounts will be maxed out by the end of the year. We will also be contributing an additional $5000-6000 to non retirement accounts.

Not as much as I was hoping to get done this year but I am happy with both or those:

I hope everyone is having a good December. Happy Holidays!

 

[DisneyMandC]

Hello again! After a disastrous 2021 (not necessarily in terms of money, just life in general), I'm back and am thinking about my money goals for this year. I accomplished my goals from last year, but one of them will carry over into this year since we'll be saving for yet another car to purchase at the end of this year.

1. Save money for a car... again. I didn't think we'd be buying a car last year when I made this goal in January 2021, but our Nissan Lemon (Rogue) had different plans. We ended up buying me a new-to-me car in August and DH is now driving my old Hyundai for the very few times he has to leave the house. We'd like to get another SUV before the end of the year so will save some money for that. I have about half of what I want to spend saved right now. I'm hoping that the car market crashes before then so I'm not spending top dollar on two cars I did purchase a Toyota and that's what we plan to buy DH too, so hopefully after this we won't be spending money on cars for a LONG time. I plan on driving my Camry into the ground.

2. Open a Roth IRA and start contributing. I highly doubt I'll max it this year what with saving for the car and other obligations, but I at least want to start contributing a small amount each month.

3. Get the mortgage under $200,000. This should be doable given the current track we're on paying a little extra towards principal each month.

4. Lower my grocery budget. We actually didn't do terrible last year, averaging about $500 a month. This also includes the several times a month I take dinner out to my grandma as well. But I know that I could get this down further, even with the rising price of groceries. I've really dropped the ball on using coupons like I used to, and I know there are a lot more ways for me to save.

5. Continue the neverending battle to lose weight/get more fit. I didn't gain any last year, my weight really stays constant. And I actually had started working out a lot more and being more active, but when my dad died I was depressed and didn't feel like working out, and that pretty much carried through to the end of the year. I need to get back into the flow.

Hope everyone has a good 2022!

Year end review!

1. Saved money for a car... and didn't need it! As we were starting the early stages of looking at cars for DH, he got a new job which included him getting a company car! Funnily enough, the company car is the exact vehicle we were planning to buy him! So we currently just have that money sitting in our savings account. We don't have any short term plans for the money (as in next year plans), but we want to do significant additions and renovations to our house in 2025 so that money will likely go to that. Hopefully we won't need another car for a very long time now!
2. IRA- done. Did not max but did contribute.
3. Mortgage- priorities changed. We did get the mortgage down to $200,800, so I'm pretty happy with that! But with inflation/interest rate changes, our savings account interest rate is higher than our mortgage interest rate... so we stopped making extra principal payments over the summer and have been contributing that money to our investment accounts instead.
4. Grocery budget- meh. Not really lowered? But with DH now traveling for work again, I do save a lot of money on groceries as they pay for all of his meals on the road with no set per diem.
5. Weight- nope. Not even a little bit. Didn't gain any, but didn't lose any either. This absolutely must change after the new year though. I'm going to start showing horses again in the spring and my show clothes are too expensive to purchase the next size up, so I have to lose. My BFF is actually pursuing weight loss surgery, so we are going to be accountability partners.

 

[MerissaAndMomLoveDis]

Wow. I knew I hadn’t posted an update in a while, but didn’t realize I hadn’t done so since May 31st. I am leaving on Friday for our Europe Christmas Markets cruise followed by Amsterdam and Paris, so here is my 2022 year end wrap up. Posting yearly goals and being a part of this supportive group helps keep me on track and accountable to myself, and I appreciate you all!!

2022 Goals: Final Update

(1) Pay off credit cards each month--no credit card debt! Done!
(2) Pay off car loan-- PAID OFF IN MAY
(3) Cash flow all of Daughter's college expenses--no student loans! Spring Quarter Fall Quarter Winter Quarter
(4) Pay property taxes on both houses in Jan 2022. completed. I’ve also already paid my property taxes on both houses that are due in January 2023.
(5) Max out HSA contributions. Contributions selected to max it out for 2022
(6) Organize financial info for those left behind, just in case... Progress was made. I did a new will and medical power of attorney this year and other financial docs. Still need to get to one bank and do a payable on death on all of my accounts at that bank. Made progress on putting all my logins and passwords in a handy dandy little passcode book, but still not done. Made progress on organizing all financial info in one place in case I die, but not done yet.
(7) Come up with something GREAT for DD's 21st birthday. I bought her a really nice camera and accessories for the camera. Was a bummer that she was so far away working this summer and I couldn’t do anything in person on her birthday, but her friends took great care of “doing it up“ to celebrate her turning 21 and we added on to our Christmas trip in part to celebrate her turning 21 this year and make up for her high school graduation trip never happening due to repeated COVID cancellations.
(8) Earn Employer's Wellness Bonus of $300.
(9) "Porch project" at country house. No progress yet. Used the money to get a giant pine tree that had been struck by lightening professionally removed and five other stumps ground down from trees I lost in the great Iceaggeddon storm that hit Texas.
(10) Lose 20 pounds. I’ve lost 95 pounds since March of this year. Hoping to knock out 5 more pounds before the end of the year to celebrate the 100 pound mark but those Christmas market treats may get in the way This has been a huge life change for me mentally and physically and I’ve learned so much on this journey.

(11) ADDED December Christmas Markets Rhine River cruise on Viking (to replace my Spring Break ABD trip that Disney cancelled ) Paid in full in cash in March. And then I added on a few days in Amsterdam. Then a TGV train to Paris and 4 days in Paris. Then decided to add on 2 days at Disneyland Paris, including hard tickets to the New Year‘s Eve party. Yesterday I added on a private guided tour of the Louvre. This trip keeps “growing”. I am so excited!!

Happy Holidays everyone. “See” you in the new year.
Now I am off to try to do the FAFSA and CSS profile tonight and tomorrow night. The struggle is real…this should be the last time I ever have to do those!

 

[MerissaAndMomLoveDis]

I'm giving up for the rest of the year I think. This trip has been a little more costly than anticipated. We're heading back home tomorrow and are planning to stop two nights instead of one. And food has been SO MUCH MORE than I even considered it would be.

However, this last month has also given me a lot of clarity and renewed sense of determination to get rid of debt and clutter in my life. And instead of "things" we will be focusing on more family time and travel. Once I'm home I'm going to really sit down and make some kind of plan of action and solid travel plans for 2023.

Tygerlilly,

I am so sorry about your dad. Sending you virtual hugs and prayers for comfort and peace. I am big on experiences instead of things and like your plan to focus more on family time and travel in the new year.

 

[jackers]

So apparently, I am also guilty of not having checked in for a while (July). Not fully successful on all of my goals and I did add an unexpected car payment mid-year.


End of 2022 Update

• Mortgage: Reduce balance by 22% with ideal payoff in December 2025 (moved this goal up 6 months – I think it’s doable) Total amount reduced in 2022: 14%. As a recap, I refinanced in March 2021 on a 30 year mortgage purely to lower my required payments. I have already paid off 26% of that balance. So I am way ahead of the game – if I only made the regular payment from here on out, I’d still have it paid off 9 years early. But the ultimate plan is to have the mortgage fully paid 3 years from now and no later than June 2026.
• Savings: Increase savings balance by 10% Massive fail on this one – overall, I think my savings may decrease by a few hundred dollars. I have plans to be able to save enough to at least break even and maintain the balance I had when going into the year, but not sure yet what my final Christmas spending is going to look like.
• 401K: Max out contributions: Completed
• HSA: Max out contributions: Completed
• DS16’s 529: Contribute $2500 Completed
• A new one, because I felt like I was a little spend happy this past year: Reduce year over year spending in discretionary budget by 5% (includes things like Gifts, Clothing, Entertainment, Dining Out, etc). Not even close. I am definitely too spendy on “stuff” – it’s not causing credit card debt as I am able to pay it off every month, but it still limits me from doing other, more important, things with that money. I have thoughts on this for 2023 but will post that in that thread.
• Car Payment (New Goal added in June) – Pay extra on principle each month. – So my loan does not allow me to pay extra on just the principle, which is a bummer, it just applies any extra paid towards my next payment. But I did still pay a little extra each month (rounding up to the nearest hundred). This loan will get tackled first in 2023.
• Fund used vehicle for DS16 with cash. No longer applicable.

2022 Personal Goals

• Get a will drawn up (third times a charm?) Yep, didn’t happen for the third year in a row. Sigh.
• Get DS16 (now 17)’s driver’s license DONE!! He also got a job in September at a local pizza joint and the difference it has made in my shy introvert is astounding, to be quite honest.
• Vacations (Nothing was planned when the year started): Did a sister’s trip to Gatlinburg in March. Spent a long weekend in Atlanta to visit my niece over 4th of July. Husband and I did 4 days in Vegas (first time visit) in November.
• Get healthier – make better food choices and exercise. I yo-yo’d so much this year. I’d do great for a month or two and then fall off the wagon for a month or two and have to start all over. With the holidays, I am in the bad part of the cycle. Will start anew next year.
• Paint great room. Nope, but not a critical goal.

Overall, still a pretty good year from a financial perspective (personally had a few ups and downs) but I am looking forward to making some new changes in 2023 to have a bigger impact.

 

[jackers]

@tigerlilly I am so sorry for your loss. Please take care of yourself.

 

[piglet1979]

Year end review!

1. Saved money for a car... and didn't need it! As we were starting the early stages of looking at cars for DH, he got a new job which included him getting a company car! Funnily enough, the company car is the exact vehicle we were planning to buy him! So we currently just have that money sitting in our savings account. We don't have any short term plans for the money (as in next year plans), but we want to do significant additions and renovations to our house in 2025 so that money will likely go to the vet. Hopefully we won't need another car for a very long time now!
2. IRA- done. Did not max but did contribute.
3. Mortgage- priorities changed. We did get the mortgage down to $200,800, so I'm pretty happy with that! But with inflation/interest rate changes, our savings account interest rate is higher than our mortgage interest rate... so we stopped making extra principal payments over the summer and have been contributing that money to our investment accounts instead.
4. Grocery budget- meh. Not really lowered? But with DH now traveling for work again, I do save a lot of money on groceries as they pay for all of his meals on the road with no set per diem.
5. Weight- nope. Not even a little bit. Didn't gain any, but didn't lose any either. This absolutely must change after the new year though. I'm going to start showing horses again in the spring and my show clothes are too expensive to purchase the next size up, so I have to lose. My BFF is actually pursuing weight loss surgery, so we are going to be accountability partners.

My daughter does horse back riding. Yes it is so expensive. Thankfully it looks like she has stopped growing and and still fits in the kids sizes or the english coat. But every spring I hold my breath and hope I don't need to get her new clothes for showing.

 

[barkley]

3. Mortgage- priorities changed. We did get the mortgage down to $200,800, so I'm pretty happy with that! But with inflation/interest rate changes, our savings account interest rate is higher than our mortgage interest rate... so we stopped making extra principal payments over the summer and have been contributing that money to our investment accounts instead.

is'nt this crazy? i haven't seen it like this since the '80's. my mom considered paying off her home but she was making more on her cd's. speaking of which-i'm eyeballing some that are paying 5% which i haven't seen in years.

I’ve also already paid my property taxes on both houses that are due in January 2023.

i'm scared to see what ours is going to be-people overinflated the property values around us so much this past year. we'll get our notices in february for the april and october payments.

 

[pblack]

Payday for my DH today and just as I expected, I don't have an update.

I seriously feel like this time of year i'm just hemorrhaging money. I really need to plan better for next year. I used to be a shop all year type of person for gifts, but since i'm trying to buy for less people now and reduce the amount of "stuff" I gift, I don't really do that anymore. Some unexpected expenses this time around included $85 for my DH's ticket to the 49ers game next weekend, whatever he ends up spending on getting down there/at the game, and I just booked airfare for myself to go to Texas after new years. But I did book that with a mix of points/cash, but it still makes me cringe with how much I spent. I know I won't regret going, just having a bit of "buyers remorse" at the moment lol.

There are still a few people I need to get gifts for, but I don't have any idea what to get which is why I haven't bought anything yet. I still have no idea what the plan for next weekend is, other than I invited myself over to my brothers house if they are doing something. His oldest daughter just had her first baby last night so they aren't sure what their plan is, but i'm now a great aunt! Nothing like adding "great" to a title to make you feel old. (For anyone trying to figure out that math, i'm 33 but my brother is 43. We have a decent age gap between us and his oldest daughter is not biologically his.)

I think that's it for me. Just keep swimming everyone! The end (of the year) is near! Also, thanks to all of you who have already joined the 2023 thread!

 

[amalone1013]

Year End Wrap Up

Since I don't anticipate us spending from our goals in the next 2 weeks...

$2000 $1000 Maternity leave cushion -
1/1: $750
7/1: $1000
Complete
Saved this up, then ended up not using due to DH having a big commission month when I planned on tapping it.

Baby/Maternity Items -
1/1: Didn't exist
Dec: Still positive
Still working on fine tuning for our 2023 budget. For the 2022 budget it's still a random slush fund type line but I did just top off the 529 account

$35,000 $20,000 Barn savings -
1/1: $6779
Dec $39,886
+$33107 change since beginning of year, 114% of goal
This will continue next year but may get a bit less directed at it compared to this year

Grocery/Eating out budget -
Grocery Months under budget: Currently 5 but we may end with 6 depending on how this month goes
Eating Out Months under budget: Currently 8 but feeling pretty sure it will end with 9

Budget Meetings - minimum monthly
Did this... once. I have plans for next year.

It's been a bit! Been a busy couple months between trips and going back to work.

Mid October Update
$2000 $1000 Maternity leave cushion -
1/1: $750
7/1: $1000
Complete
This is going away now that I'm back at work. Original plan was to supplement any short checks and the rest moves to another goal. I ended up short as I mentioned in a post from my PTO being applied differently etc, BUT since we do YNAB's budget last month's income thing, and DH got an extremely large commission payout, plus it was a 3 paycheck month for us both, I did not use this to top off my "income" as I'd planned. I think I may roll it all into the baby category.

Baby/Maternity Items -
1/1: Didn't exist
10/14: Still positive
I'm starting to fine tune this category a bit - it has its own section in YNAB, and now I'm starting to split it out for supplies ie diapers, etc, 529 savings, daycare costs. My wonderful in laws are watching the baby and we're working out what we'll pay - mainly DH and I have a number in mind and now we need to argue with in laws about it. I have a feeling they won't take the full amount...

$35,000 $20,000 Barn savings -
1/1: $6779
10/14 $37,995 (+$31216 change since beginning of year, 109% of goal)
So 2 months of commissions and the 3 paycheck month....

Grocery/Eating out budget -
Grocery Oct: 5% remaining
Months under budget:
Eating Out Oct: 39% remaining
Months under budget:
Grocery still doesn't look good. I really need to do some more meal planning to help here even with the price increases on everything.

Budget Meetings - minimum monthly
Months with meetings:
Still not doing well here - same.

Later I will add a picture of little miss, who is now somehow 6 months old