Get out of Debt in JUNE - Page 2

[kitteh]

Isn't it great to see progress being made?

From when we started tackling debt about 3 years ago we have managed to deal with a surprise pregnancy, bouts of unemployment and under-employment (DH and I STILL have not both been fully employed at the same time since he arrived in the US over 3 years ago!) and yet we have managed to do the following:

UCLA bill--$1500.  FULLY PAID

Credit cards--$25,000. Almost 93% PAID! and the remaining $1,850 is at 0% interest

Refrigerator (ours broke!)--$800. 70% PAID! This is at 0% as well

My Bike (old one was stolen and we don't have a car, so I needed this!)--$350. 30% PAID also at 0% interest

Student Loans--25,000. Ugh. This one has been on deferment FOREVER which is absolutely HORRIBLE and I hate it, but we continue to have problems with getting the IBR set up, and in the meantime I've had them deferring it. I'm pretty sure all of the problems with the repayment plan have FINALLY been resolved, and we'll begin paying around $100/month on this some time this summer. I'm hoping to apply for a loan forgiveness program once I start teaching, so hopefully that will help get rid of some of it.

I still haven't found summer work, and school is out this Friday. I should be feeling more panicked than I do. Unemployment and DH's checks will cover all of our necessary expenses, but I'm kind of in denial about how much we are going to have to cut out of our budget/fun money if I don't find a way to bring in extra cash over the summer.

[trekkingirl]

I just posted two photos of DH in the fathers day photo contest over in the parenting forum. DD really wants a kindle fire and she has been saving and saving. If I win the contest I get an amazon card. I doubt I'll win but it would be cool to be able to get her the kindle. She is almost there without the help though. I'm really proud of her. If you guys are interested, go hit the thumbs up button on my photos! 

[Surfacing]

((lurking for inspiration and motivation))

Keep up the great work Mamas!

[lilacvioletiris]

Paying off debts feels so good!

Last night we paid off debt number 4 three months earlier than we had planned.  Feels so good.

Also got paid for my summer job before I even start teaching so I am able to get some much needed clothing that I keep putting on hold but my undies from 3 years ago are in need of the trash.

[trekkingirl]

mine too!

[lilacvioletiris]

Went shopping yesterday - 2 new shirts, 1 set of pajamas, a pair of swim suit shorts, fabric for a dress, a shirt, and two baby dresses (for baby showers coming up).  Didn't find undies I liked at a price I was willing to spend.  Ugh.  Will keep looking.

DH also bought me a pair of jammie bottoms as my surprise "birthday gift".  I kept telling him I wanted to go shopping and find something I liked for my birthday.  He bought the jammie bottoms on the sly for me while I was in a dressing room trying on bras.  No deal on the bras but he was able to buy me a "surprise gift" which makes him happy.  In my family, we always knew what we were getting for birthdays and Christmas often because it was handmade and hard to hide the sewing machine in the living room or the woodworking in the garage.  DH's family has everything as a surprise.  I just roll with it.

[eirual]

I'm totally dropping the ball this month.

Going to try some new strategies for July (prioritising budget...I heard DR talking about it on his show when your income's inconsistent. Decide what you MUST pay firstl, then put your likes in a priority sequence and make it as far down your list as possible with the funds you have coming in). I think it will help me realize I want to save more than I want some random impulse buy and end up short in the end.

Groceries have also been killing us lately. I used to spend $100/wk and now I can't seem to get it under $140. I think I'm going to try to calculate the cost of each meal and really think through snack food/lunch extras.

[Citymomx3]

Jumping in here!

On our way to being debt free!  I'm going for the 5-year plan.  

$500 in Emergency Fund

5 store cards and 1 hospital bill PAID OFF!   Hooray for snowballing!

4 more store cards, 2 loans, and 3 CCs to go.

Made some phone calls today:  

Got 1 loan down from 13% APR to 4.25% 

Got 1 cc down from 27% APR to 6%

Got another cc down from 20% APR to 8.75%

Got another cc down from 14% APR to 0%

And negotiated all of these with set low monthly payments!

I know we can do it.  No more messing around.

[BaileyB]

Hip Hip Hooray! for Dave Ramsey:

Unfortunately we are back to baby step 1. We were debt free except for mortgage but had 2 things come up, 1 out of our control and 1 in our control but we went for it anyway. Now we are back to having a car payment $150/month, and an interest free payment on our new flooring that we got I think it is $150 also. Sooo looking forward to paying them off BUT I don't know how else we can cut back. We have low low low amount of bills and cost of living. Making $2600/month and only use $800/month for gas-groceries-spending-etc. It always sounds like a lot until I get it in hand.

I suppose our debt #1 is flooring = $1,800

                          Debt #2 is car = $5,000

                      Debt #3 is house = ??$115,00??

I guess $6,800 isn't a ton but it is about $6,800 more than I would like us to have.

[lilacvioletiris]

A five year plan is better than no plan at all!  Good thing you have a plan.

[kitteh]

Originally Posted by Citymomx3 

Made some phone calls today:  

Got 1 loan down from 13% APR to 4.25% 

Got 1 cc down from 27% APR to 6%

Got another cc down from 20% APR to 8.75%

Got another cc down from 14% APR to 0%

And negotiated all of these with set low monthly payments!

I know we can do it.  No more messing around.

Those are HUGE strides forward! 27% down to 6% interest, just for making a phone call?! Awesome! That will make a big difference, and you won't feel so much like a hamster running on its wheel. And once you start seeing more of your money going toward the principal of your debts--and as a result you start seeing real progress being made--that will create more motivation for you to find whatever extra money you have to throw it at the debts. Great start!

[trekkingirl]

I have really been focusing on saving for a house. Haven't put any extra money towards debts for a while now. My kids have really been missing a house. I've gotta get them out of this RV. Seems as though I'm the only one that enjoys it these days. I got another second job. Hopefully this one will actually pay money. Won't see any more income for a month though.

[lilacvioletiris]

trekkin, I hope your new job will pay you soon.

Working on getting our funds in place to attempt an IVF cycle.  Glad that insurance will cover 80% but still need to pay the 20% upfront before starting the cycle.

[Citymomx3]

Originally Posted by kitteh 

Those are HUGE strides forward! 27% down to 6% interest, just for making a phone call?! Awesome! That will make a big difference, and you won't feel so much like a hamster running on its wheel. And once you start seeing more of your money going toward the principal of your debts--and as a result you start seeing real progress being made--that will create more motivation for you to find whatever extra money you have to throw it at the debts. Great start!

A hamster on a wheel is exactly what I feel like.  Hopefully now things will be way more manageable and I can finally see a light at the end of my long tunnel.  

[trekkingirl]

It's crazy the messes we get ourselves in! 

[lilacvioletiris]

I have been talking with my insurance company and figuring out what is covered by insurance and what isn't.  It looks like will need $2250 to start a cycle almost half of which is a ART case management fee that isn't covered by insurance but is required just to make an appointment for scheduling our month for the IVF cycle.

DH submitted a sperm sample to be frozen today - there were 5 moving sperm in his sample today, up from 1 moving sperm in the last SA.  Dr. wants him to submit another sample for freezing (and each freezing procedure costs $206 but we will do what is necessary have a baby.

Still working off our debt snowball and the extra money I am making this summer is going directly to our IVF fund.

[esg]

Is there a July thread? I don't want to miss it if there is one.

I've been keeping up in June just not posting.

[kitteh]

Yeah, we need a July thread! I've got a lot going on, and a lot to post, but I've been waiting for the July thread.