Debt Dumpers 2022

[pblack]

Do you have a Disney Dooney backpack? I bought my first backpack in December and it is smaller than I expected so just FYI if you aren't already aware.

I don't! Thanks for the tip! That's another reason I want to see it in person before I buy it. I don't need it to be huge, but I am concerned about the straps being long enough for me.

 

[crazycatstacy]

I don't! Thanks for the tip! That's another reason I want to see it in person before I buy it. I don't need it to be huge, but I am concerned about the straps being long enough for me.

I use mine as a purse. Although the straps go long enough for me to wear it as a backpack (I'm a little chunkier) it is a feat to get it off LOL

 

[EilonwyWanderer]

I could never get over how plasticky the DB stuff feels so luckily that's one expense I miss out on even if I think the designs are cute

 

[pblack]

I use mine as a purse. Although the straps go long enough for me to wear it as a backpack (I'm a little chunkier) it is a feat to get it off LOL

That's my intention to is to use it as a purse since I don't carry one anymore. I'm also a little top heavy which is why I'm concerned about the straps lol. So I guess we'll see what happens this weekend! I'm also open to a Lounge fly, but haven't found one I've wanted enough to pull the trigger.

I could never get over how plasticky the DB stuff feels so luckily that's one expense I miss out on even if I think the designs are cute

So weird that I've never really paid attention to that lol. I have a D&B wallet that I absolutely love and use every day, but it doesn't feel plasticky to me. But now that I'm thinking about it some of the other D&B products I've looked at have felt a little like that.

 

[crazycatstacy]

We have known that we are going to take a long trip (13-14 nights) to Disney in October/November 2023 for my 50th birthday so I can go to a Halloween Party (hopefully they have it) and a Christmas one. Well, now my mom said her husband's family would like to go to Disney in February 2023. My husband and I discussed it and I think we will shorten our trip to just one week and then do the trip with my mom. The one with my mom we stay off property as they rent a vacation house. Now to need to start saving. Of course, her husband's family are not planners so they won't have anything all confirmed forever which will drive me nuts!!

 

[Carol_]

Win of the day: The dealership is doing our state inspection for free!

 

[EilonwyWanderer]

February update:

Mostly a bunch of ugh. Credit card is down but only because I'm raiding savings to do it. It's under 10k now, but not by MUCH. It being super cold and oil prices skyrocketing means our oil bill is a little under $700 for the past two months! It's insane! We did make the decision to pull the kids out of after school care since our work places have confirmed that we can WFH at least overlapping schedules through the summer, so we'll be saving 1k a month after March, BUT we also decided to enroll them in karate and lacrosse classes so...saving some but not all?

Goals:
-Credit card under 10k. Fridge wasn't on sale for president's day weekend (boo!) so we'll wait on that.
-YNAB working a bit better. Definitely depressing me about where my money is going!
-Eat out less. Hahaha. This has been BAD this month. Just a lot going on, too frazzled to cook. I really need to reign it in.
-Start 529 -- Still waiting on the credit card being paid off for this to happen.

I'd say March will be better but we're going to Disney soooooooo. Probably not!

 

[slightly_obsessed]

End of February Check in

2022 Financial Goals
1. Debt - Focusing on Student loan #1 - balance is $9490. Current balance is $8680.28. Estimated payoff month is 10/2023.

2. Long Term Savings - Windows/Siding/House painting $5000/$55,000 No progress.

3. Budget Focus - Get food/drink/dining out costs under control. Spent less this month than last, but it still seems like we are spending a lot on these categories and not making a huge dent in our supplies so I am going to keep trying to use up what we have.

4. Cash for Vacation - Bryce Canyon/Zion/Grand Canyon Trip this summer. Goal: $4550 $5500. Current amount saved/spent of goal: $1168.99/$5550.

5. Retirement Contributions - Continue 401k, 403b and monthly non retirement investment account contributions. These are automatic but ultimately I would like an extra $5000 to retirement this year, beyond what we already do. Most will come with tax refund and after maxing out SS/401K/403B. 0/$5000

6. Trust - really need to complete this. I dropped the ball and I know it needs to be a priority. We've met with an attorney, I just need to gather all the paperwork he needs. No progress.

7. Part time work/income - Started subbing, so far so good.

Personal Goals
1. Focus on health In February, I want to start adding in exercise at least 3x week and make sure I hit my step goal every day (currently set at 12,500). Hit my step goal 16 days and got through a 6 sessions of C25K. Doing better but still needs improvement! Down 12.5 lbs though!

2. House Projects. Focus on one room/area a month to tackle. Well, I ended up spending quite a bit of time on my son's room instead of the laundry room/HP closet. There are a few odds and ends to finish, but I also really need to tackle the HP closet for safety reasons. It's our tornado shelter and we would not be able to fit 3 humans and 2 dogs in there without shoving boxes out of the way first. So that's next.

 

[jackers]

February Update

• Mortgage: Reduce balance by 22% with ideal payoff in December 2025 (moved this goal up 6 months – I think it’s doable) Feb: 4% decrease
• Savings: Increase savings balance by 10% Feb: 11% increase (my tax refund was the main reason for hitting this already. Will now slow this down and put more towards mortgage)
• 401K: Max out contributions: Completed (based on current rate of contribution)
• HSA: Max out contributions: Completed (based on current rate of contribution + planned one-time contribution)
• 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). Year to Date: 7% over last year’s spending (comparing Jan-Feb 2021 to Jan-Feb 2022).
• Transfer ownership of ‘09 Honda to DS25 (he has been using it for the past 3 years anyway). Not started.
• Fund used vehicle for DS16 with cash. Not started.

2022 Personal Goals

• Get a will drawn up (third times a charm?) Not started.
• Get DS16’s driver’s license No progress
• Vacation: Currently planning a Gatlinburg sister trip in the spring, hopefully a family trip later in the year but no specific plans yet. Cabin booked and paid for.
• Get healthier – make better food choices and exercise. Welp, February sucked.
• Paint great room Not started although I always look at paint colors any time I am in a home improvement store. My main reason for delaying is because I can't decide if I am going to paint the whole room or just an accent wall and I think my color selection will change depending on that decision.

 

[piglet1979]

End of the month check in

Goals for 2022

• Pay off lower mortgage on the house -- Still plan to have this paid off by the end of the year. Trying to talk DH into just paying it off now so it may be paid off by summer
• Fix the sun porch (This will be a huge cost but it has to get done) -- Working on getting quotes. DH's bonus and the tax return will go for this.
• Save for trip to Disney in 2023 (kids are going with the marching band and DH and I are having our first no kids trip to Disney) -- I am trying to get a budget for this from DH but we haven't yet. DH is all over the place on what he wants to do.
• Lower the amount we spend on eating out. -- This has been bad lately. We need to get better.

Person goals

• Lose 10 pounds (lost 10 this year and want to continue) -- I gained my weight back that I lost. I really need to get back to this.
• Get a will put together (we have talked about this since we had kids. They are now 15 and 14. time to get this done) -- Still nothing here

In the mist of a rough month I did get some good news. I got a promotion at work and a raise to go along with it. DH is also going for a new position at his work. It is a higher pay as well. It will also change his hours. He would work 5-2 every day with a guarantee that he will be done by 2. This will help a lot with the kids and getting them to there activities. He is an early riser and is usually up at this time so the hours wouldn't bother him.

 

[slightly_obsessed]

In the mist of a rough month I did get some good news. I got a promotion at work and a raise to go along with it. DH is also going for a new position at his work. It is a higher pay as well. It will also change his hours. He would work 5-2 every day with a guarantee that he will be done by 2. This will help a lot with the kids and getting them to there activities. He is an early riser and is usually up at this time so the hours wouldn't bother him.

Congrats on the promotion! And good luck to your DH, sounds like it would be a great fit for him and your family.

 

[Woth2982]

End of month update.
Amazon Card - Paid $300
Personal Loan - Remaining Balance $1,922.49 - Paid $150 toward principle, Would like to knock this one out first (snowball method)
Student Loan - Min Payment Made
Medical Debt - Not incurred Yet
Disney Spending - Bought $100 Gift Card from Target $1900 to go
Other Payments Made - Have a Kohls Charge with $300 left, will pay off next paycheck on the 10th, Citi Card Balance was $890 Paid in full, mostly left over xmas spend. Do not anticipate a bill like this again, so will be using any extra towards the personal loan.

February Update:

February got away from us for good reason, our little man made his way into the world a bit ahead of schedule at 36+6 on 2/22/22. I was scheduled to have him yesterday 3/2. He spent 2 nights in the NICU and is a tiny peanut weighing in at 5lbs 6oz (5lb 12oz at birth). I had an inky feeling that whole weekend that after my appointment Id be sent to L&D. He failed his non-stress test, then they scheduled an immediate ultrasound, failed the movement on that, sent me to the hospital for a more in depth NST, failed movement again, so they decided to deliver. We had an "emergency" c-section and when they got him out the cord was around his neck, which they believe is why he failed movement, it was restricting him. He is home now and thriving.

Amazon Card - Paid another $300, slow progress here, hoping to get a decent bonus in June which would tackle this
Personal Load - Down to $1,690, so making decent progress, but not as much as Id like
Student Loan - Min payment made
Medical Debt - Waiting on this bill, will set up a payment plan with the hospital since it will be interest free, we will max out our OOP so trying to figure out what other procedures we may be able to bump into this year. Mainly dermatology issues.
Disney Spending - Got a $50 gift card for my bday so total savings $150, lower than Id like but still good
Other Payments - Kohls Charge is completely paid off, we had a $800 propane bill this month, hoping this is the last delivery for the year, but we may get one more.

 

[EilonwyWanderer]

February Update:

February got away from us for good reason, our little man made his way into the world a bit ahead of schedule at 36+6 on 2/22/22. I was scheduled to have him yesterday 3/2. He spent 2 nights in the NICU and is a tiny peanut weighing in at 5lbs 6oz (5lb 12oz at birth). I had an inky feeling that whole weekend that after my appointment Id be sent to L&D. He failed his non-stress test, then they scheduled an immediate ultrasound, failed the movement on that, sent me to the hospital for a more in depth NST, failed movement again, so they decided to deliver. We had an "emergency" c-section and when they got him out the cord was around his neck, which they believe is why he failed movement, it was restricting him. He is home now and thriving.

Oh wow that's terrifying! Glad everything turned out okay! I had an emergency C-section as well (though the baby was fine throughout, my water just broke and then I never progressed past 2 cm for 2 days despite many many interventions!) so if you need any tips let me know! One of those handles on the toilet things from home depot/lowers was really helpful for me the first few weeks! Also my partner doing every diaper for the first three months

 

[pblack]

February Update:

February got away from us for good reason, our little man made his way into the world a bit ahead of schedule at 36+6 on 2/22/22. I was scheduled to have him yesterday 3/2. He spent 2 nights in the NICU and is a tiny peanut weighing in at 5lbs 6oz (5lb 12oz at birth). I had an inky feeling that whole weekend that after my appointment Id be sent to L&D. He failed his non-stress test, then they scheduled an immediate ultrasound, failed the movement on that, sent me to the hospital for a more in depth NST, failed movement again, so they decided to deliver. We had an "emergency" c-section and when they got him out the cord was around his neck, which they believe is why he failed movement, it was restricting him. He is home now and thriving.

How scary! A huge congratulations though on your little man! Glad everyone is home, healthy, and happy.

 

[StacyStrong]

I haven’t posted much this year (if at all?) but things have been hectic.

I’m looking to buy my first home and it’s absolutely terrifying. Right now I have applications out for pre-approval and then I’ll start working more with real estate broker. Sucks that interest rates are up, but i “need” to move this year.

Technically I don’t “need” to, but I moved in with a family member a couple years ago to help them financially while they went through a divorce. I’ve been living rent free (the house is paid off), but handling all utilities and most expenses. However, one of their kids is having a baby and him and his gf/baby will be moving in. I don’t want to live with a newborn that isn’t mine especially since I work from home and the son can now assist with housing costs.

This is hugely terrifying for me as I’ll be buying on my own on a single income. I have looked into renting instead, but near me renting a modest apartment is barely cheaper than buying a modest home. (I’m looking at a 1500 mortgage payment with taxes, PMI, and insurance included, if things go as planned) At my age (33(, it just doesn’t make sense to rent when I could buy a house and have more control. Obviously there’s increased costs of home ownership, but it’s a trade off.

Moving out has been a looong time coming. However, I keep reminding myself that if I don’t find something within my price range that I like, I don’t HAVE to buy. I can keep on business as usual and manage with the newborn if I have to for however long I need to. It’s not like anyone is forcing me out or I’ll be homeless. But it’s still so scary and it’ll be a huge change to my monthly budget.

 

[pblack]

I haven’t posted much this year (if at all?) but things have been hectic.

I’m looking to buy my first home and it’s absolutely terrifying. Right now I have applications out for pre-approval and then I’ll start working more with real estate broker. Sucks that interest rates are up, but i “need” to move this year.

Technically I don’t “need” to, but I moved in with a family member a couple years ago to help them financially while they went through a divorce. I’ve been living rent free (the house is paid off), but handling all utilities and most expenses. However, one of their kids is having a baby and him and his gf/baby will be moving in. I don’t want to live with a newborn that isn’t mine especially since I work from home and the son can now assist with housing costs.

This is hugely terrifying for me as I’ll be buying on my own on a single income. I have looked into renting instead, but near me renting a modest apartment is barely cheaper than buying a modest home. (I’m looking at a 1500 mortgage payment with taxes, PMI, and insurance included, if things go as planned) At my age (33(, it just doesn’t make sense to rent when I could buy a house and have more control. Obviously there’s increased costs of home ownership, but it’s a trade off.

Moving out has been a looong time coming. However, I keep reminding myself that if I don’t find something within my price range that I like, I don’t HAVE to buy. I can keep on business as usual and manage with the newborn if I have to for however long I need to. It’s not like anyone is forcing me out or I’ll be homeless. But it’s still so scary and it’ll be a huge change to my monthly budget.

Buying a home for the first time can definitely be scary and stressful! But like you said at least it's not a worse situation where you absolutely need to be out. Wishing you good luck!

 

[barkley]

I haven’t posted much this year (if at all?) but things have been hectic.

I’m looking to buy my first home and it’s absolutely terrifying. Right now I have applications out for pre-approval and then I’ll start working more with real estate broker. Sucks that interest rates are up, but i “need” to move this year.

Technically I don’t “need” to, but I moved in with a family member a couple years ago to help them financially while they went through a divorce. I’ve been living rent free (the house is paid off), but handling all utilities and most expenses. However, one of their kids is having a baby and him and his gf/baby will be moving in. I don’t want to live with a newborn that isn’t mine especially since I work from home and the son can now assist with housing costs.

This is hugely terrifying for me as I’ll be buying on my own on a single income. I have looked into renting instead, but near me renting a modest apartment is barely cheaper than buying a modest home. (I’m looking at a 1500 mortgage payment with taxes, PMI, and insurance included, if things go as planned) At my age (33(, it just doesn’t make sense to rent when I could buy a house and have more control. Obviously there’s increased costs of home ownership, but it’s a trade off.

Moving out has been a looong time coming. However, I keep reminding myself that if I don’t find something within my price range that I like, I don’t HAVE to buy. I can keep on business as usual and manage with the newborn if I have to for however long I need to. It’s not like anyone is forcing me out or I’ll be homeless. But it’s still so scary and it’ll be a huge change to my monthly budget.

it is scary! confusing and w/the crazy housing market these days much more intimidating. find a realtor you can trust and feel comfortable with. you can 'shop around', interview a few. ideally someone with the time and patience to educate you on the process. one thing i will suggest when looking at your monthly budget w/home ownership (and i give the same advice to couples)-if you don't have decent long term disability insurance through your employer or your state, consider getting it. god forbid, if something happens where you can't work for a few months or longer the last thing you want compounding your disability is the stress of trying to make the mortgage payment. you're young, in good health-a policy or a supplemental policy could be a minimal monthly expense that provides tremendous peace of mind (with couples i always add on life insurance to cover the cost of the mortgage payoff b/c i had a co-worker, 8 plus months pregnant whose 30 something dh dropped dead one night leaving her a week or two out from scheduled maternity leave with no where near the income to pay the mortgage let alone meet her expenses ).

 

[StacyStrong]

Thank you both!

This is something I have been preparing for. I have saved up a down payment + closing costs over the past couple years with enough for about 10k of work/furnishing that would need to be done immediately. Aside from that I have a 10k emergency fund and I'm fully living off the prior month's salary to pay the current months expenses. I don't have any credit card debt or car loans. I do have a long-term disability plan through work.

All I have is my student loan debt which is substantial. With that said, I'm truly not looking to buy more than I need at this point and anticipate moving in 5-10 years after building up some equity. I have stable salaried job and have the ability to increase my income year over year for the foreseeable future.

I do think it's something I can manage, but it'll be a great reduction in my savings rate - which I don't love but is clearly expected because I'm currently living rent free. I am also blessed in that I have family and friends in various trades and typically do not need to pay labor for things like car maintenance and some home improvement work. My budget will certainly be a lot tighter. It's a big change, but I think one I need to make.

 

[barkley]

his is something I have been preparing for. I have saved up a down payment + closing costs over the past couple years with enough for about 10k of work/furnishing that would need to be done immediately. Aside from that I have a 10k emergency fund and I'm fully living off the prior month's salary to pay the current months expenses. I don't have any credit card debt or car loans. I do have a long-term disability plan through work.

you are WAY AHEAD of where many first time buyers are. fantastic to have money already set aside for initial tweaks and furnishings, better yet to have that emergency fund. looking forward to hearing about your search.

 

[slightly_obsessed]

February got away from us for good reason, our little man made his way into the world a bit ahead of schedule at 36+6 on 2/22/22. I was scheduled to have him yesterday 3/2. He spent 2 nights in the NICU and is a tiny peanut weighing in at 5lbs 6oz (5lb 12oz at birth). I had an inky feeling that whole weekend that after my appointment Id be sent to L&D. He failed his non-stress test, then they scheduled an immediate ultrasound, failed the movement on that, sent me to the hospital for a more in depth NST, failed movement again, so they decided to deliver. We had an "emergency" c-section and when they got him out the cord was around his neck, which they believe is why he failed movement, it was restricting him. He is home now and thriving.

I am so glad he is ok! That sounds so scary and overwhelming.