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Getting Out of Debt in November - Page 3

post #41 of 143
Still here in BS3. Last month I had to take some money out of savings to cover the unexpected expense of the car deductible for running into the tree. (doh!)

This month is supposed to be much better - I prepaid most of the trip to Kona for my extended family, something I was really really happy to do, even though it will set me back 2 months of savings.

Now to save for Christmas. I'm not spending much this year, but I'll still have to write it into the budget.
post #42 of 143
Still working on BS2 and I have a question. We currently have 3 credit cards with doable balances that can be paid off soon but I am thinking of leaving them open for a couple of reasons.

1. We are planning on flying back to the US early next year and one of the cards provides free trip insurance. A different card provides free rental car insurance (we no longer have US car insurance).

2. The debit card protections here are pretty close to non-existent so if we buy something online and someone steals our account number, we are out the money.

Since it is such a PITA to pay on the cards, I am pretty sure we can keep from using them. Oh well.
post #43 of 143
akichan - why are YOU giving up savings at a time like this to pay for your family to go on vacation? That sounds, crazy! You need to be in charge of YOU and your boys, not their vacations.
post #44 of 143
I'm looking at the budgeting software on Dave's site. Does anyone have this? I find it ironic that he talks about saving money but has all of this cool stuff to buy, LOL. But, really, is it better than quicken or something like that? Also the cash envelope thing. I would absolutely HAVE to have something like that if I was going to go cash and not use my debit card. I don't use a credit card (my debit has the visa logo) but do you really spend less if it's cash vs. debit?
post #45 of 143
I can't say anything about Dave's software because I haven't seen it but instead of envelopes I was thinking of one of those cardboard coupon folder thingys. I'm going to check my office supply store for one of those. That would fit in my purse and that way I would have each "envelope" or section of the folder for each category and not have to worry about buying gas with grocery money because I didn't grab the right envelope.

I've found that - yes it is harder to spend the cash even than a debit card.....try it for a couple weeks I bet you'll feel the difference LOL
post #46 of 143
You absolutely spend less with cash than with a debit. For one thing, money is finite. When the envelope is empty, it's empty. For another thing, money is emotional. It's harder to let go of real, tangible money than fairy imaginary debit card cash.
post #47 of 143
Quote:
Originally Posted by Rev1053 View Post
P1gg1e are you still watching your SIL kids? How did that work out for you?

I ask because I recently agreed to start watching my sisters 3 kids 4 days a week for around 4+ hours a day. OMG is it a lot of work. Not to mention now I cant leave the house 4 days a week. My mornings are spent preparing for my sisters kids arrival and my evenings are spent cleaning the house after their arrival. 4 days a week are gone for me and the kids. It makes it almost impossible to homeschool.... All this for a few hundred a month.

Now my mother wants me to start managing an 8 apartment building an hour+ away from me. It means taking phone calls from 8 renters, collecting rent, following through on the on site manager... Ugh. For a few hundred a month. And I will be taking on the duplex thats only a block away from me as well. I just keep telling myself that its worth it.

All the little stuff adds up right?
Wow thats allot. Id almost just pick one or the other. Manage kids or the apartments. My whole summer was put on hold. Though the kids were good and all got along for the most part...though it was summer and I wasn't homeschooling. You do what you need to...I didn't clean for them though or prepare much . For the amount I was getting paid they got our normal mess KWIM?

it does add up but you guys already are going pretty fast...figure out if its truly worth your time..and you can say NO!
post #48 of 143
Quote:
Originally Posted by annettemarie View Post
So far the only things we came up with was
"Can I get a yes" = 1 shot
"Live like no one else so you can live like no one else" = 2 shots
I think we should get something special everytime Dave makes a sexist/misogynistic statement, but that might just be me.
Quote:
Originally Posted by annettemarie View Post
I can't remember if I told you all this.

We were at Old Navy a couple weeks ago and when we were checking out, the sales lady asked if I would like a store card. Katie Grace (8) pointed at her and yelled "CHEETAH!!!!" So funny. I had to tell her not to do it anymore because it's not nice to point or to freak out clerks.
You guys are a freakin hoot!
post #49 of 143
Quote:
Originally Posted by annettemarie View Post
You absolutely spend less with cash than with a debit. For one thing, money is finite. When the envelope is empty, it's empty. For another thing, money is emotional. It's harder to let go of real, tangible money than fairy imaginary debit card cash.
I have to second this! This is my second month of all cash and last month was a huge wake up call. I managed to burn through my cash really quick and by mid-month had none left. Then out came the debit card... and after spending $450 some frivious items between DH & I we finally ended the month. I feel so yucky, but now I'm being very aware of how I'm spending my money and trying to work on my "no spend" days more. (see "Nov No spend" thread).
post #50 of 143
I had a down moment last night and began surfing DR's website and up pops:

"Live like no one else so you can live like no one else" on their banner

and it made me think ... 2 shots please
post #51 of 143
I'm so nervous to go to the grocery store w/just cash, LOL. I am sometimes good about making a list (and stick to it if I have one) but I don't always have time to do it. I guess I'll just have to jump in and do it. I'd still use debit for gas b/c I'm no lugging in half a dozen kids everytime I need gas, LOL.
post #52 of 143
So, I finally read the book. I am inspired. Tying to get dh to read it too. I think using someone elses plan is less emotional.
I did a pretty good job this year of paying down debt, we paid off about $7500. I just paid off our TV yesterday. That felt good, very liberating. At this point we are putting the vacation we had planned on hold. I really want to take our tax return and pay off the rest of our van. If I can pay down $1200 in cc's by tax return time, I will be so proud of ourselves.
Next year is about the last standing bigger chunks of debt. I have about $15000 that I am eyeing to dissolve.
My biggest problem is the budget. This has been a huge challenge for me to wrap my head around. I usually see finances oppositely: we have this much money so we can do this and this and this, not pre-planning(inconsistent income).
So, I am plugging away at budget sheets and trying to see the bigger picture.
post #53 of 143
Quote:
Originally Posted by lalaland42 View Post
Still working on BS2 and I have a question. We currently have 3 credit cards with doable balances that can be paid off soon but I am thinking of leaving them open for a couple of reasons.

1. We are planning on flying back to the US early next year and one of the cards provides free trip insurance. A different card provides free rental car insurance (we no longer have US car insurance).

2. The debit card protections here are pretty close to non-existent so if we buy something online and someone steals our account number, we are out the money.

Since it is such a PITA to pay on the cards, I am pretty sure we can keep from using them. Oh well.
Nobody flame me, but I haven't closed my CC accounts either. I have relied on my cc for rental car coverage in the past so I do find it a huge benefit. I say tuck those cards away (i.e. with your tax paperwork/birth certificates) and just pull them out when you really need them. No more debt...but I don't see any problem with using the card for planned, budgeted purchases.

Amy - I haven't made the switch to cash for groceries either. I like to stock up on reduced items. If I just stuck to my list, I'd never be able to get that turkey bacon, cottage cheese, or bagged salad.
post #54 of 143
Well, we're surviving despite the job loss. I made DH sit down and come up with a very finite plan to get in some final training in his field so that when he achieves journeyman status in April, he's got all the skills too. We've got basics covered, but we need to sit down and do a better budget this month. At least I know we have a tax return to look forward to!
post #55 of 143
Not to play devil's advocate but 1) I was able to use my debit card to secure a rental car with my debit card; I just had to make sure there was a certain amount of money was in my account and 2) I use cash and stock up. Using cash doesn't really have anything to do with sticking to a list-- you just leave yourself a margin. And really, if you don't have the cash, you shouldn't be buying it, bargain or not. Whether the cash is in your hand or in your bank account, you still need to only be spending what you have allotted on groceries.
post #56 of 143
Why not use prepaid Visa's or Master cards? OR set up another checking account with a debit card separate from you main checking for your trip?

If you have a Visa logo on your debit card its protected in the same fashion as your CC. Its a myth that its not. You have the bank AND Visa protecting your account and when we had our account stolen it was refunded and a new card issued.
post #57 of 143
Quote:
Originally Posted by p1gg1e View Post
If you have a Visa logo on your debit card its protected in the same fashion as your CC. Its a myth that its not. You have the bank AND Visa protecting your account and when we had our account stolen it was refunded and a new card issued.
We were told at FPU that you only get credit card protection if you choose to run it as a credit card. So, if you choose debit you don't get those same protections.
post #58 of 143
You are about to learn more about the Swiss banking system than you probably care about.

Remember several months ago when the IRS started demanding that Swiss banks open their books for Americans who are dodging taxes by hiding money in Switzerland? Well that made the Swiss banks mad so they stopped accepting applications from anyone with an American passport. There is another very commonly used option in Switzerland... It is called a post account. It is just what it sounds like, a pseudo bank account but at the post office instead of a bank. I opened one of those because I arrived after the Swiss banks stopped accepting US clients. Twenty days after I opened my post account, the Swiss post office stopped accepting clients with a US passport for the same reason the banks did.

How is a post account different than a bank account? Glad you asked. I get a "debit" card that DOES NOT have a Visa or Mastercard logo but will allow me to withdraw cash at ATMs and pay at most stores around Switzerland. I can technically withdraw cash from ATMs worldwide as long as it has a Plus logo but I've heard mixed reviews on that.

Quote:
Originally Posted by annettemarie View Post
Not to play devil's advocate but 1) I was able to use my debit card to secure a rental car with my debit card; I just had to make sure there was a certain amount of money was in my account and 2) I use cash and stock up. Using cash doesn't really have anything to do with sticking to a list-- you just leave yourself a margin. And really, if you don't have the cash, you shouldn't be buying it, bargain or not. Whether the cash is in your hand or in your bank account, you still need to only be spending what you have allotted on groceries.
I have done this too with a debit card on an American account but I can guarantee my post account card will not be accepted. I would have to wire transfer enough money for a deposit (if needed) to my American account and I would lose money on the exchange rate plus any wire transfer fees.


Quote:
Originally Posted by p1gg1e View Post
Why not use prepaid Visa's or Master cards? OR set up another checking account with a debit card separate from you main checking for your trip?

If you have a Visa logo on your debit card its protected in the same fashion as your CC. Its a myth that its not. You have the bank AND Visa protecting your account and when we had our account stolen it was refunded and a new card issued.
I could probably find prepaid Visa or Mastercards but they wouldn't provide trip protection or auto insurance, which my cc's do provide. It would probably be best to find a prepaid Swiss MC/Visa but I have to wait until our residence permits go through. I can't even get a library card without it. I will look into it though.

My debit card does not have a Visa or MC logo. It really isn't a debit card at all but some fancy way of doing a free wire transfer. If I transferred money more than 2x a month into my American account that does have a debit card with a logo, I would have to pay $30 per transfer plus I would lose money on the exchange rate twice. Once into US dollars and once back into Swiss francs when the online merchant charges my US account in Swiss francs.

We use a cash system for everything except rental cars, online purchases and airline tickets.

Clear as mud?
post #59 of 143
We lived in Europe for 7 or so years, and ummm, yeah, I totally agree. When you are dealing with international/multi currency transactions - then sometime the 'Dave Ramsey' method is not quite enough. In that case, you just have to do what you have to do for the transactions to work.
post #60 of 143
Sorry, I was specifically answering Sarah8Jane, in AK.
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