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Dumping Debt with Dave Ramsey/DECEMBER - Page 6

post #101 of 369
Yeah, we should be getting a tax return, because we have yet to fix it so that we're breaking even tax wise (not paying or owing). That should take care of a good chunk of the truck fund. Thanks for the reminder.
post #102 of 369
Thread Starter 
That's how we are going to pay our truck too. We are also going to change the w-4 in the new year to claim more exempetions to get more each check and less at the end of the year. But just for THIS year....it will be nice to have that "chunk" back. LOL
post #103 of 369
Quote:
Originally Posted by phathui5 View Post
mumkenna&lucas,

Post that budget. We can help you find places to trim that you hadn't thought of (hopefully).
awesome! I'll try and post it tommorrow, I have been working on homework for a class I have been taking for 2 days straight and I have no motivation to do it now

Tommorrow my goal is to list at least 5 items on ebay..I have only sold 1 thing there so far, but I have my fingers crossed that I can sell some stuff! I need to declutter anyway!
post #104 of 369
ok my month is slowlying downhill ! I just remembered that my kids have to go get there teeth cleanings in Jan and I don't have money put aside for it ! I am SOOOO mad at myself !I need 160-260 depending on if my 3 yr old will do the x-rays or teeth cleaning or if she just gets an exam agian . ugggg I hate not having insurence! Ok so help me think of things I can do to make up that kind of money . I do not need it till Jan 24th but still thats only 30 days after chrsitmas and i realy do not want to use the emergency fund nor the fund thats paying off a credit card this month . So any Ideas would be great Thanks !

I did do a survey last night for 9.00 so I now have 9.00/260.00 I need
post #105 of 369
finally, my turn came! i'm picking up the book today or saturday at the library. i can't wait!

sarah
post #106 of 369
Okay... so I did some research and from what I calculated DH would have to claim 9 on his w-4 to get all of our money. BUT, we get back everything we paid out PLUS some. I know there is no way his boss is going to give him a paycheck for more than he earned, kwim? So are we just SOL on the whole getting no refund thing or what?
post #107 of 369
Dawn, we're in the same situation. For the past several years, we've gotten back more in federal income taxes than we paid in. The additional child tax credit and the adoption tax credit are the reasons we get so much back. DH adjusted the withholding at work earlier this year, so they're taking out less for taxes than in previous years. I'm still expecting a refund, but a smaller refund than in years past.

IIRC, there is a way to get an advance on the EIC (earned income credit, for low-income families). But there is no way I know of to get an advance on any of the other federal tax credits.

In any case, I don't think it's a horrible thing to get a small refund. But if you're getting back a large amount every year, it would probably be better to adjust your withholding. Personally, I think that getting back a couple hundred dollars is okay. Thousands of dollars would be a cue that something should change. But that's just my opinion, there are others who might disagree.
post #108 of 369
I also posted this in the December low-income mamas thread, but it applies here, too.

My husband just got his first paycheck from his new job.
FINALLY!
It was $740 for two weeks.
I put $25 back into our emergency fund (it is now $30),
and $50 into the savings attached to checking (has a minimum of $50, so I like to just keep it in the savings, plus if checking gets overdrawn, it covers checking).....
I paid the remainder of December bills (due between the 15th and the 25th).
And, we have money left!
We can buy gas. We can buy food.
We have $148 for two weeks, $74 a week.
I'm so glad we have something left.
Even though it isn't much.

__________________
post #109 of 369
I am so happy for you Katreena! Even though you knew it was coming, I am glad you have the money in your hands now. There is such a difference between having something, even if it isn't much, and having nothing. Are you still planning to apply for foodstamps now that you have proof of income? That would be another thing to look forward to, to lighten your load now.
post #110 of 369
Thread Starter 
Quote:
In any case, I don't think it's a horrible thing to get a small refund. But if you're getting back a large amount every year, it would probably be better to adjust your withholding. Personally, I think that getting back a couple hundred dollars is okay. Thousands of dollars would be a cue that something should change. But that's just my opinion, there are others who might disagree.
I agree with that too. I would like to bring it down to a couple hundred (I'd be worried about having to PAY) but we have been getting back 4-5K ish each year. We dont get EIC but our house interest is wretched and so that's why we get so much back. This year it will be nice...to pay off DH's truck loan but after that, I'd much rather save it myself.
post #111 of 369
Quote:
Originally Posted by dealic View Post
I am so happy for you Katreena! Even though you knew it was coming, I am glad you have the money in your hands now. There is such a difference between having something, even if it isn't much, and having nothing. Are you still planning to apply for foodstamps now that you have proof of income? That would be another thing to look forward to, to lighten your load now.
Oh, we already applied for food stamps.
My husband was able to take in a letter from his employer stating his expected earnings (hours/week plus what his hourly wage is).
We were denied because:
1. I have a 401k ($4,230) from a job in '98 - the only job of many that ever offered a 401k plan.
2. My daughter's have a joint savings account created with their annual PFD's ($4,600)

And the rule is, if the family has a total of $2,000 or more in assets (savings, IRA, college fund, etc.), then no matter your income, food stamps are denied.

I've already been mad about that and then got over it.

I can't believe my daughter's (ages 2.5 and 15.5 months) have more in savings, (to use toward college, house, car, whatever they choose when they're adults), than I have at the age of 33 to retire on whenever that time comes.
But I know I'm doing the right thing for them.
I don't want them to be 18 and penniless as I was.
I want them to have money for college like I didn't.
Or for a house if they choose not to attend college.
post #112 of 369
Thread Starter 
That's dumb about the food stamps being denied. Isnt Alaska housing expensive too? It would be very hard to live on $740 for 2 weeks.

Honestly, I think if I were in your situation, I would dip into the children's fund. Pay off what you need to (and give yourself an emergency fund). You have 16 years to fill it back up. I would set up your current family situation for now....and then work on building money for your retirement AND them over the next 16 years. If you can eliminate some outgoing money each month, you can put that toward their savings later and get them more that way, ykwim?
post #113 of 369
Quote:
Originally Posted by DesireeH View Post
That's dumb about the food stamps being denied. Isnt Alaska housing expensive too? It would be very hard to live on $740 for 2 weeks.
Yes, Alaska is one of the highest cost of living state's in the US.

The living wage calculator says a family of 4 (and we're 5, counting my bonus son) needs an income of $25.07/hour to not be living in poverty, and my husband is earning $10 an hour.

RE: my daughter's savings.
It is funded by their PFD's.
My husband and I got a PFD, too.
I used it to prepay rent (prepaid 6 months, got 7th months for free, at $355 a month), prepay my cell phone ($5 a month, for 7 months), prepaid my auto insurance for 6 months ($120 a month) and topped off our EF. That was in October. Then my husband got pneumonia in October, and changed jobs in November.
I am so glad I had prepaid all those things.
I don't have to pay rent until June 2008!
I just don't think their money is mine to use, especially when I got the same as they did. This year, it was $1654 per person.
post #114 of 369
I have 1 item listed on ebay so far, and 1 on craigslist..2/5 isn't bad with some daylight left! Question about selling though..I have a small box of 6-12 month girl clothes.Should I list it as a lot? What do I even start the price at?

I really hope this works selling items! We are soo tight right now! And I really would like to get started with a little intensity!
post #115 of 369
mom2dea,

Unless they need dental work done immediately, can the cleanings wait until you either save up the money or figure out insurance?
post #116 of 369
Quote:
Originally Posted by phathui5 View Post
mom2dea,

Unless they need dental work done immediately, can the cleanings wait until you either save up the money or figure out insurance?
Yeah if I can not save the money without going into other fund then I will cancel the cleanings . So far I have 9.00 kidz eye surveys and 8.00 American consumer opinions so 17/260
post #117 of 369
Thread Starter 
UGHHHHHHHHHHH, I'm sooo annoyed. My dh just called and said he got a ticket for going 84 in a 60. That's gonna be expensive. He said he cant see the price cause it's dark which means he just doesnt want to tell me until he comes home. Being responsible would have saved us some money, thanks DH! But then again, I got one a year ago (for going 5 over though, not 24!) Ugh.
post #118 of 369
Oh, crap!
Desiree, sorry.

You just reminded me my husband got a ticket going 60 in a 45 (supposedly was passing a vehicle going only 30 mph) a couple months ago and he never paid it.
post #119 of 369
Thread Starter 
There is no price! Weird. Here you can go to traffic school (costs the same as the ticket) but your insurance wont go up if its a first offense (it is.)

If you dont pay it, they double and triple. I was on a road trip in another state when I got my 5 mph over ticket in WA state....and it was $70 but I forgot to pay it within 3 weeks and it doubled. So I had to pay $140 for going 5 miles over the limit.

DH's was on the freeway, 84 in a 65....so 19 over....I originally thought 24...19 is better cause 20+ is considered reckless.
post #120 of 369
ok here it is my rough draft of my budget..A few notes are My dh WILL NOT get rid of his truck. it is our only car payment my van is paid for, and it is not-negotiable in his eyes. I know that it is the first thing Dave would say needs to go but Dave doesn't live with my husband so it has to stay:The other is our car insurance dh also has a few oopsy's on his record, one is one we will be paying for a LONG time, so that is about as cheap as it gets for us unfortunately. I just canceled our Netflix, and my cell phone. Dh's work pays for his cell phone.

Giving 32
Efund 230
Home 500
Repairs 20
PG&E 87
Water 50
Gas 40
Phone 72
Cable 50
Food 350
Truck 385
Vehicle Gas 400
Repairs/oil 40
Car Ins. 186
License/registration 25
Clothing 60
Dr Bills 70 (we owe small amounts per month to about 4 different drs. the 70 is them all combined)
Dentist 15
Prescriptions 60
DD tuition 185
DD ballet 40
Blow $$ 80
Visa1 -25
MC1 -45
MC2- 45
MC3 -45
Christmas Fund 20

ok have at it..
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