Debt Dumpers 2023

[barkley]

We finally filed our taxes, we owed a massive 13k in taxes for last year. A big hit selling a mutual fund we've been saving for years for a down payment on the house, live in a HCOL as it is so housing is ridiculous, we just squeeked over 150k combined and that hit us. Helping an adult that can't afford their life, and I'm saving zero extra, so it's feeling ridiculous at this point in time. I think that coupled with I'm working full time plus overtime every single week and health-wise this isn't doing me well and taking a toll. Just nothing much more to say, just venting on getting a big hit from all sides.

i'm sorry. i remember one year we got hit with the alternate minimum tax and it HURT (and we were really not making a huge amount at the time).

 

[pblack]

We picked up our dining table over the weekend and got it put together and I gotta say, I'm so glad we decided to change this space. It's added so much extra storage/workable space. Plus the space just flows so much better now. I'm attaching some pics. I forgot to take a before pic, so the Before1 pic is the only one I could find that shows the old dining table in our space. I was either putting up Christmas décor or taking it down, so please forgive the huge mess in the picture.

 

[Tygerlilly]

I have no idea what my last update was necessarily, but we went into quite a bit of new debt.

We bought a house!!!

It's still here in OK and not Indiana where we wanted, but realistically we have too much to do here between moving my mom, going thru her house and 2 storage units, and job stability, we just decided to stay put a couple years and instead of continuing to dump rent into someone else's bank account, we might as well put it towards something that's ours. All 3 kids finally get their own rooms, there's a 2nd living space that will be the kids play room, a massive back deck. We saw it yesterday, put the offer in last night, and they accepted this afternoon.


Now I get to start purging and packing 7 years worth of stuff we've acquired. Lol

 

[barkley]

first off-congratulations!!!!!!

Now I get to start purging and packing 7 years worth of stuff we've acquired. Lol

secondly-the purging before moving is one of the best things you can do for yourself. we got rid of a bunch of stuff when we moved from one home to another and the stuff we (and the kids) just couldn't part with but i suspected we didn't need went into boxes marked 'misc. stuff' and if we did'nt need it within 6 months out it went. with the big purge i contacted the local viet nam vets group who will take any usable household goods (a military base nearby welcomed it as well to provide for incoming families until thier personal furniture and household goods arrived).

p.s. a great resource for boxes is to talk to your realtor-see if they have anyone moving IN to your area and if they want someone to take their packing boxes off their hands.

 

[pblack]

I have no idea what my last update was necessarily, but we went into quite a bit of new debt.

We bought a house!!!

It's still here in OK and not Indiana where we wanted, but realistically we have too much to do here between moving my mom, going thru her house and 2 storage units, and job stability, we just decided to stay put a couple years and instead of continuing to dump rent into someone else's bank account, we might as well put it towards something that's ours. All 3 kids finally get their own rooms, there's a 2nd living space that will be the kids play room, a massive back deck. We saw it yesterday, put the offer in last night, and they accepted this afternoon.


Now I get to start purging and packing 7 years worth of stuff we've acquired. Lol

Congratulations!!!

 

[StacyStrong]

I have no idea what my last update was necessarily, but we went into quite a bit of new debt.

We bought a house!!!

It's still here in OK and not Indiana where we wanted, but realistically we have too much to do here between moving my mom, going thru her house and 2 storage units, and job stability, we just decided to stay put a couple years and instead of continuing to dump rent into someone else's bank account, we might as well put it towards something that's ours. All 3 kids finally get their own rooms, there's a 2nd living space that will be the kids play room, a massive back deck. We saw it yesterday, put the offer in last night, and they accepted this afternoon.


Now I get to start purging and packing 7 years worth of stuff we've acquired. Lol

Congrats! Fingers crossed for a good inspection (assuming you’re doing one) and appraisal (assuming you’re getting a loan)!

New homes are so exciting !

 

[goofytinkerbell]

You may have already done this, but once you finish off this project, is it worth ranking them almost in a "snow balling" order - the projects with the least amount of work needed, get those done and dusted so at least you can see some progress. A bit like getting rid of that little debt balance even though it has the lowest interest rate, just so there is some evidence of things improving.

That said, I am someone who did a cross stitch picture for someone's 21st birthday present and ended up giving it to them as a wedding present several years later because it needed some beads adding and then framing. When I got to it, finishing off only took a couple of evenings in front of the TV!

I totally get that! I have a few that are at the top of the list because they have timelines (gifts, etc), but there's also some larger ones that I want to tackle just because they're in the way... This is mostly just to keep me accountable so I don't completely abandon them all

 

[goofytinkerbell]

We finally filed our taxes, we owed a massive 13k in taxes for last year. A big hit selling a mutual fund we've been saving for years for a down payment on the house, live in a HCOL as it is so housing is ridiculous, we just squeeked over 150k combined and that hit us. Helping an adult that can't afford their life, and I'm saving zero extra, so it's feeling ridiculous at this point in time. I think that coupled with I'm working full time plus overtime every single week and health-wise this isn't doing me well and taking a toll. Just nothing much more to say, just venting on getting a big hit from all sides.

I feel your pain. I swear, that's my entire life. It's always something, and it feels like I can't catch a break. All I can say is try not to let it stress you out too much (easier said than done) or else you might wind up with health issues on top of it all.

I have no idea what my last update was necessarily, but we went into quite a bit of new debt.

We bought a house!!!

It's still here in OK and not Indiana where we wanted, but realistically we have too much to do here between moving my mom, going thru her house and 2 storage units, and job stability, we just decided to stay put a couple years and instead of continuing to dump rent into someone else's bank account, we might as well put it towards something that's ours. All 3 kids finally get their own rooms, there's a 2nd living space that will be the kids play room, a massive back deck. We saw it yesterday, put the offer in last night, and they accepted this afternoon.


Now I get to start purging and packing 7 years worth of stuff we've acquired. Lol

Congrats!! Houses are money pits, but are generally much better than renting. There's also the quality of life improvements.

 

[goofytinkerbell]

It's Friday again!

Financially:
1. Keep the credit cards empty - DONE! Still using them and paying them off before they start earning interest.
2. Figure out a way to put some sort of extra on the mortgage, even if it's the $100 minimum - DONE!
3. Get some things I NEED to have (rims/tires for the car, items that need replacing at home, etc)
-Nothing this week, but that's okay
4. Get a savings plan going for the big stuff that comes due in one lump sum payment (insurance, property tax)
-I finished paying the property tax. Still haven't heard back about the dispute, but whatever. I can't have it collecting interest.
-I bumped my auto-payments up by $10 bi-weekly. It's not much, but I need to do it in amounts I won't miss much, and somehow I need to get it high enough to save enough for property tax, insurance, etc.

General stuff:
1. Make a will - DONE!
2. Continue to clear out the crap. I need to go through my clothes and that sort of thing. I got a pile done in 2022, but it really wasn't enough.
-86 items gone this week
3. Look for a new job. The reason nothing has been getting done is because I'm burned out from my existing job and I'm being severely underpaid for the work I do.
-Applied for a couple jobs
-Set up a job alert for one site, though I may not keep it. The jobs there are terrible! I can't do part time contract positions, and that seems to be all I'm seeing.
-I heard rumors that my office might be putting an end to hybrid work and bringing us back to the office full time. I may have to accept something I'm not entirely comfortable with to move along, but it has to meet minimum requirements (full time permanent, salary at least what I make now)
4. Get my passport.-DONE!
5. Knock some half-finished projects off the list. Everything from making a scarf to some jewelry. Lots of stuff has been started, but not finished. Enough already!
-Got 1 project done! Finally... that one was dragging
6. Get into better shape. I'd like to say 'lose weight', but I'd be happy to be able to run up my own steps without getting winded. The weight loss may or may not come, but it's not as important.
-Did 4 workouts
7. Spend more time with loved ones. I don't see friends/family much. I guess I really need to do #3 in order to facilitate this one.
-Met up with friends once
8. Organize my stuff!
-Sorted through some backup discs
-Sorted through most of my entry closet. Shoes, outerwear, that sort of thing. I still have a tote of winter gear to do, but I made progress.

 

[jen7233]

We picked up our dining table over the weekend and got it put together and I gotta say, I'm so glad we decided to change this space. It's added so much extra storage/workable space. Plus the space just flows so much better now. I'm attaching some pics. I forgot to take a before pic, so the Before1 pic is the only one I could find that shows the old dining table in our space. I was either putting up Christmas décor or taking it down, so please forgive the huge mess in the picture.

That is a great kitchen/dining flow space.

I have no idea what my last update was necessarily, but we went into quite a bit of new debt.

We bought a house!!!

Congratulations!

I feel your pain. I swear, that's my entire life. It's always something, and it feels like I can't catch a break. All I can say is try not to let it stress you out too much (easier said than done) or else you might wind up with health issues on top of it all.

It's the first time we've ever owed, and it was alot! I am mad in a nice way to put it, just feeling like geez try to save all these years, use the money for a downpayment on a house, last year was a tough working year and, well, just complaining about taxes and money going out the window I suppose. Hopefully next year will be better.

 

[jen7233]

General stuff:
1. Make a will - DONE!
2. Continue to clear out the crap. I need to go through my clothes and that sort of thing. I got a pile done in 2022, but it really wasn't enough.
-86 items gone this week
3. Look for a new job. The reason nothing has been getting done is because I'm burned out from my existing job and I'm being severely underpaid for the work I do.
-Applied for a couple jobs
-Set up a job alert for one site, though I may not keep it. The jobs there are terrible! I can't do part time contract positions, and that seems to be all I'm seeing.

Job burnout is real. I struggle with this at the moment.

 

[Tygerlilly]

Inspection came back. There's some electrical issues and a couple plumbing things that need to be corrected. I'm hoping the owners agree to all the fixes so we can close on it. We offered full asking price so I'm kinda hoping they're willing to do it whereas if we had negotiated or offered less they could always turn it down. Everything was sent to them for review today. Hopefully we hear back in the next couple days.

 

[barkley]

Inspection came back. There's some electrical issues and a couple plumbing things that need to be corrected. I'm hoping the owners agree to all the fixes so we can close on it. We offered full asking price so I'm kinda hoping they're willing to do it whereas if we had negotiated or offered less they could always turn it down. Everything was sent to them for review today. Hopefully we hear back in the next couple days.

even if you don't negotiate it into the contract as the seller paying for it you might want to consider paying yourself for a home warranty. doing it at the time of purchase is much easier than adding one after the fact. it came in quite handy with our first home (older construction) when the hvac went kaplooie a few months into ownership-we paid the small (i want say like $50) deductible and it was fully repaired in quick order.

 

[jen7233]

even if you don't negotiate it into the contract as the seller paying for it you might want to consider paying yourself for a home warranty. doing it at the time of purchase is much easier than adding one after the fact. it came in quite handy with our first home (older construction) when the hvac went kaplooie a few months into ownership-we paid the small (i want say like $50) deductible and it was fully repaired in quick order.

That's something we got when we purchased. It has come in handy with some unexpected electrical issues that popped up. Even with rising interest rates, we still have multiple offers on homes here, and going over asking price this spring and this pace started about end of February. I think we'll see that through early-mid summer.

 

[CinderEmma94]

End of April Check in/Update!

1. Pay off the birth **done
2. Pay off two of our 3 credit cards (approx $13,000). **Combined balance of the two cards is now $6,522.79. The first card will be paid off with our next paycheck!!
3. Start husband’s 403B (he works for a non-profit) and contribute to match (5% of our income). **Not yet, starting in June
4. Grow emergency savings to $13,000 by the end of 2023. **5,640/13,000 -- we are pausing this goal for a couple of months to be able to better tackle the debt. Yes, my savings account is earning over 3% interest, but when you have credit card debt that is at 18% it makes more sense to us to throw everything we can at the debt ASAP. So, suspending this goal for now but not giving up on it

Personal goals:
1. Continue making moving my body a priority (4/7 days a week) **done! I actually just registered for the runDisney summer virtual 5k series (3 5k runs done in your own time) and I am so excited for it. I am also considering registering for Wine & Dine Virtual this year. I am looking forward to going back to in person races but runDisney is like the Hunger Games trying to get a spot so the virtual runs work for me for now.
2. Read 12 books this year **7/12 done. I read 4 books this month! I am really getting back into reading and it is so great. It will be interesting to see how many books I actually end up reading this year.

 

[ruadisneyfan2]

I have no idea what my last update was necessarily, but we went into quite a bit of new debt.

We bought a house!!!

It's still here in OK and not Indiana where we wanted, but realistically we have too much to do here between moving my mom, going thru her house and 2 storage units, and job stability, we just decided to stay put a couple years and instead of continuing to dump rent into someone else's bank account, we might as well put it towards something that's ours. All 3 kids finally get their own rooms, there's a 2nd living space that will be the kids play room, a massive back deck. We saw it yesterday, put the offer in last night, and they accepted this afternoon.


Now I get to start purging and packing 7 years worth of stuff we've acquired. Lol

Congratulations!!

 

[goofytinkerbell]

Job burnout is real. I struggle with this at the moment.

I think a lot of people do. My entire office is overworked, and the company has been really terrible lately. Some people have just walked out, with nothing lined up and with no notice. That's how you know things are bad

 

[goofytinkerbell]

TGIF! And time for an update.

Financially:
1. Keep the credit cards empty - DONE! Still using them and paying them off before they start earning interest.
2. Figure out a way to put some sort of extra on the mortgage, even if it's the $100 minimum - DONE!
3. Get some things I NEED to have (rims/tires for the car, items that need replacing at home, etc)
-Nothing this week. I've been distracted
4. Get a savings plan going for the big stuff that comes due in one lump sum payment (insurance, property tax)
-No extra progress this week

General stuff:
1. Make a will - DONE!
2. Continue to clear out the crap. I need to go through my clothes and that sort of thing. I got a pile done in 2022, but it really wasn't enough.
-17 items gone this week
3. Look for a new job. The reason nothing has been getting done is because I'm burned out from my existing job and I'm being severely underpaid for the work I do.
-Went through some postings, but didn't see anything new. There was one remote job that looked promising, but they required relocating. That just negates the whole 'remote' thing. There's rumors circulating that they might bring us back to the office full time, and I'm concerned about the productivity I'll lose.
4. Get my passport.-DONE!
5. Knock some half-finished projects off the list. Everything from making a scarf to some jewelry. Lots of stuff has been started, but not finished. Enough already!
-I didn't even work on anything this week
6. Get into better shape. I'd like to say 'lose weight', but I'd be happy to be able to run up my own steps without getting winded. The weight loss may or may not come, but it's not as important.
-Did 2 workouts
7. Spend more time with loved ones. I don't see friends/family much. I guess I really need to do #3 in order to facilitate this one.
-Met up with friends once
8. Organize my stuff!
-Nothing

There was a distinct lack of productivity. However, a whole bunch of people asked me to do their taxes, and the deadline is in a couple of days. Right now all of my energy is going into that, and that's what I need to continue to do. I haven't even been doing laundry!

 

[pindecisive]

2. Continue to clear out the crap. I need to go through my clothes and that sort of thing. I got a pile done in 2022, but it really wasn't enough.
-86 items gone this week

Something that helped me was when I went to fold my clothes, I'd talk about why I liked the item and how much it meant to me. It helped to show me which items were just 'meh' and which items I actually loved and wore.

I also started keeping the clothing I folded in a different place, so every few weeks I'd go through the section of clothes that hadn't been washed and worn and do the same thing. "I haven't worn this recently, but here's why I love it...."

 

[afan]

I think a lot of people do. My entire office is overworked, and the company has been really terrible lately. Some people have just walked out, with nothing lined up and with no notice. That's how you know things are bad

I've done that before. But I've also always used temp agencies to fill in so I knew I'd have at least something. Sometimes that's just what you need to do with a job. I did give 1 week notice. They were also moving buildings which would've added at least 20 min to my commute which was what pushed me over the edge. I already didn't want to go in and that would've made it worse.

I like where I ended up though. But that above job broke me to where I no longer knew what I wanted to do for work, just not be overworked and underpaid (even if it wasn't overworked the pay was still not what it should've been.)