Getting Out of Debt, December Edition - Page 4 - Mothering Forums

Forum Jump: 
Reply
 
Thread Tools
#91 of 116 Old 12-21-2009, 09:06 AM
 
eirual's Avatar
 
Join Date: Mar 2006
Location: GTA, Canada
Posts: 4,314
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
...and it was rather depressing!

So, when we started DR, we had 6mos left on our car payment, a line of credit, and credit cards which we didn't use often (but used, and they were starting to get ahead of us). I thought we were in good shape...HA!

I made a graph to represent our financial path. I made the sections into a long stem with a flower at the top with a fat $6,000 in the centre which is our current financial goal (to finance a move and DH's first semester of tuition without getting into debt). Up the stem there are 84 sections each representing $100: the $2,400 we have left to go in the dept department and the $6,000 we need to save. I threw a few more on the bottom since we've paid off the car, the CCs, and some of the LOC already.

I made the ground line at the 0 mark, where we'll be debt free. I love having the visual, but I never realized, even after crunching all the numbers and summing it all up, how financially flabby we were. and just how far we still have to go.

Before starting DR we though, oh, we're only about $1,000 in debt...um no! Do the math! We were more like $7,000 in debt! Laying it all out visually has really made it clear how far we've come and just how much we need to keep up with the momentum to have a prayer of reaching our next goal. I'm looking forward to colouring in squares as we continue.

Anywhoo....I've made a graph this week....what do you do from time to time to keep motivated?

Laurie, wife to guitar.gifDH (Aug/04), mom tobikenew.gifDS1 (Nov/05) and bfinfant.gifDS2 (June/12).

 

eirual is offline  
#92 of 116 Old 12-21-2009, 09:56 AM
 
mamatowill's Avatar
 
Join Date: Aug 2004
Location: Dreaming of being a SAHM
Posts: 800
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Well I am still trying to convince DH about DR. He thinks he is too simple (finances for dummies) and well we are doing really well with our debts. He keeps telling me we are better than others and look how far we have come. While a few things have come together I am realizing that it is BOTH of our mindsets which are the problem. I just don't think we will get that far if he doesn't change his mindset. I am still processing my immature attitude to debt and what is really funny is that his parents are trying to tell us what DR says to some extent. They are disappointed in our money management and I have to say so am I. How did you convince your partner to get on board? He has checked out DR but I am not sure that he is really listening to what he is saying. Can I work on DR's plan by myself and keep encouraging him and showing by example?

Mama to two loqacious and bouncy boys.
mamatowill is offline  
#93 of 116 Old 12-21-2009, 10:38 AM
 
eirual's Avatar
 
Join Date: Mar 2006
Location: GTA, Canada
Posts: 4,314
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
DH was very sceptical. I told him to give me a month. We fought like crazy over the emergency fund. He couldn't justify saving money when we have money on a CC gaining interest. I used the notion that if it had been all about the math we wouldn't be in this mess, explaining DR's thoughts that if you didn't have a safety net you're likely to get off track when life comes at you. I was pretty emotional about it at times. I found it frustrating that something had moved me so deeply and he was pulling away from it barely willing to give it a chance.

During one of our last arguments I had asked him what the harm was with trying it. By then I had dramatically changed my spending habits and pointing out how much I HADN'T spent (especially during back-to-school time as a teacher) and explaining how I had changed and this was something I at least wanted to TRY.

Anywhoo, he ended up giving me a month and that rolled over into 5 where we are now. He hasn't complained about our $$ being in an emergency fund (in fact I think he's appreciated it, as he's a worry wort constantly thinking he'll be laid off) and I think he likes having that net there and knowing we'd be able to manage at least for a little while if something were to happen. He too found our visual chart rather depressing- neither of us realized it was as bad as it was.

ETA: For your DH, I'd really emphasize that the fact that there IS debt shows that you're NOT doing okay. You don't want to keep your head above water, you want to move forward. I'd share the point that DR is very behavioural. It's not about the math, it's about changing your behaviour, gaining momentum, and being encouraged by seeing results. It's likely true that you're better than others, but that doesn't make it right....I can't remember the quote at the moment, but something to the effect of "if you compare yourself to a society that's on the wrong track, then that doesn't prove much". His reasonings are very juvenile, as are the "I-want-it-now" cravings (which I realized I had huge, and didn't clue in that maybe that was a problem...). Good luck!

Laurie, wife to guitar.gifDH (Aug/04), mom tobikenew.gifDS1 (Nov/05) and bfinfant.gifDS2 (June/12).

 

eirual is offline  
#94 of 116 Old 12-21-2009, 03:49 PM
 
beansmama's Avatar
 
Join Date: Aug 2007
Posts: 1,208
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Dh has been out of town for business training since the 14th.

He should've been back yesterday, but instead his job flew him from OK to TX for MORE training...there was even a possibility of him being flown BACK to OK if things in TX didn't go well...but thank goodness he's finally coming home tonight!

Nothing sucks more than missing your hubby during the holidays.

That being said...I freaking hate his new job! He works so much now and he's on salary...so it's just not adding up. He'll be home at 1030-11pm tonight, and is going to work tomorrow from 6am-430pm...I pretty much wont see him until it's actually *christmas*. Gah.

I do have a point to this dh-work-rant post.

It's TOTALLY helping me get motivated to save as much of our money as possible. I hate that he has to work. I'm thankful that he does work and has a seemingly stable job...but I miss him SO. MUCH.

I can't wait until one day we are financially free and can just bask in the sun and spend time together, hahaha.

Anyway. His job pisses me off and motivates me to stay on track with our TMMO. I just hope I can stay focused and not blow all of our money on retail therapy...hahah
beansmama is offline  
#95 of 116 Old 12-22-2009, 11:54 AM
 
p1gg1e's Avatar
 
Join Date: Apr 2004
Location: Ohio
Posts: 2,303
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by eirual View Post

Anywhoo....I've made a graph this week....what do you do from time to time to keep motivated?
We have a Graph/thermometer that hangs in our bedroom so its the first thing we see int he morning and when we go to sleep.
p1gg1e is offline  
#96 of 116 Old 12-22-2009, 12:48 PM
 
_ktg_'s Avatar
 
Join Date: Jul 2008
Location: a house in the suburban jungle.
Posts: 2,151
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
The graph/thermometer idea sounds like a great way to stay motivated. I remember a few months ago, someone stated they posted their debt in big # and updated it as they paid it off. I was thinking about getting some from our local school supply store after the holidays and making that display in our kitchen.

On a sad note - DH & I were crunching the numbers from our holiday shopping and realized somehow we have either lost or misplaced around our house $60 cash. This is really bumming us out as we're trying to decide whether to eat it or ...pull from somewhere so we can continue to get some gifts for individuals who we had budgeted for, but now we don't have the $.

hmm maybe I'll go try the "ask a psychic thread" in TAO for a little help

treehugger.gifAnd you who seek to know Me, know that the seeking and yearning will avail you not, unless you know the Mystery: for if that which you seek, you find not within yourself, you will never find it without.treehugger.gif

_ktg_ is offline  
#97 of 116 Old 12-22-2009, 05:53 PM
 
MyTwoAs's Avatar
 
Join Date: May 2004
Location: In my own little la-la land
Posts: 3,608
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Hi mommas,

I'd like to join you, even though December is almost over. I was a DR listener a couple of years ago and I'm familiar with his program (I've read My TMMO, etc). My husband just started a new job and we're lucky enough that it comes with a nice bump in pay. In the past, we fell into the trap of adjusting our lifestyle up to accompany the bump in pay and I don't want to do it this time. I want to take this increase in income and get out of debt sooner. Soooo...I'd like to join to help stay motivated.

We are on BS2 and if all goes as planned, we should have it done in ~ 18 months.

Thanks!
MyTwoAs is offline  
#98 of 116 Old 12-24-2009, 12:06 PM
 
applecider's Avatar
 
Join Date: Jul 2005
Posts: 2,007
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I would like to join as well. I previously joined the no-spend challenge a couple of times but just don't find it very easy to keep up with. I found myself reading this thread everyday and looking for new posts! So I figured this is where I belong. Currently, DP has a good job to more than cover our expenses and I SAH. Our debts are a motorcycle and about 6K in student loans. Then the mortgage of course which is interest only but these last two payments I started paying the amortized amount. We also contribute about 5% to a 401K. The remainder is savings. I plan to use most of that saving to pay off the motorcycle in the spring. The interest on it is a flat $$ every month so it really doesn't matter if I throw money at it now or when I have the full amount. And I'm very good about not touching $$ in the savings account! We also have some major spending coming up, will likely need a new fridge and need to fix the truck soon ($1800 ) Other than that, my main goal is to pay down on the house so we can sell and move somewhere else (maybe). Or maybe to just stop paying PMI. Not really sure. I'll say my main problem is that after so many years of just barely scraping by and being really frugal, now that DP makes a very decent living, it's hard to keep living that frugally. I want to but I don't have so I have a hard time forcing myself to go without. The main area that I overspend is food. I love food and going out to eat. DP doesn't care to spend money, it's all me! (other than the beer $$) Oh, the other thing is that now that DP makes $$, we can no longer have the kids on the state medical so that is costing a bit each month. Plus we finally got life insurance but DP is a smoker so that costs a pretty penny each month too.

Whew! Sorry to ramble. I REALLY love this thread and I love thinking about ways to save $$. Can't to share in the paying of debt with you all!

Oh as far as DR goes, I haven't read his book or anything, I"ve been to his website and I really like the ideas. I feel like I kind of have my own way of doing things, but I have taken some good ideas away. Like we are trying to do an all cash budget for purchases rather than the debit card. That is going ok, but I do have a tendency to "steal" from other categories when the $$ runs out in one.

                                       DS 7 ~ DS 3

applecider is offline  
#99 of 116 Old 12-24-2009, 01:14 PM
 
eirual's Avatar
 
Join Date: Mar 2006
Location: GTA, Canada
Posts: 4,314
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
Cody'smomma, Welcome here!

Definitely pick up DR's Total Money Makeover from the library. It has more than just concepts in it, he really gets inside your brain and gets you motivated. It really is a life-altering shift in thinking. Since starting his method in August we've established an emergency fund, paid off our car, our credit cards, and are on our last LOC. He really moves financial freedom to the top of the priority list (and I'm thankful for that because life is so much calmer now).

A good place to start is to at least track your spending each week and crunch the totals. How are you organizing your envelopes now (like which catergories do you have)? Do you have a budget drawn up and an Idea of when you'd like to accomplish your financial goals (e.g. save an emergency fund, pay off CC, pay off vehicles)?

Laurie, wife to guitar.gifDH (Aug/04), mom tobikenew.gifDS1 (Nov/05) and bfinfant.gifDS2 (June/12).

 

eirual is offline  
#100 of 116 Old 12-26-2009, 01:05 AM
 
MyTwoAs's Avatar
 
Join Date: May 2004
Location: In my own little la-la land
Posts: 3,608
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Good to have another "newbie" on the thread cody'smomma, I think that tracking your spending is a good start, as well. The first time I did that it was certainly an eye opener.

So I logged on to my online banking today and saw that my husband's vacation payout from his previous job was deposited - just a tad over $3,000 went straight onto our BS2 snowball; I immediately logged on to the account and made the payment so I don't get tempted. I wasn't expecting it today so it was a nice surprise.
MyTwoAs is offline  
#101 of 116 Old 12-26-2009, 01:37 PM
 
applecider's Avatar
 
Join Date: Jul 2005
Posts: 2,007
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I have been tracking my spending for several years in excel, which is how I came up with my budget amounts:

Grocery350
Gas300
Entertainment200
Misc/house200
Health100
Pet30
Gift50
Car50
Motorcycle50

My problem is that I am just not self-disciplined enough to stop spending!!! I mean, we are able to save/pay off dept about $800 a month but I know I could be saving/paying debt more like $1,000 if I was disciplined. Maybe I should just not be so hard on myself? I just know it's doable to live on much less because we have done it before. But now I have gotten used to the creature comforts and not having to say no to myself and it would be hard to go back. I mean, don't get me wrong, I shop at thrift stores, don't buy new clothes and don't just go out and drop money on stuff. But we could go out to eat less and I could make less impulse purchases on stuff under $10.

I don't really have a goal as to when I'd like to pay such and such off but basically, as soon as we've saved enough (and there are no layoffs in the forseeable future!) I'd like to pay off the motorcycle.

I will try and check that book out to motivate myself better.

Thanks for the tips!

                                       DS 7 ~ DS 3

applecider is offline  
#102 of 116 Old 12-26-2009, 03:39 PM
 
MyTwoAs's Avatar
 
Join Date: May 2004
Location: In my own little la-la land
Posts: 3,608
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Spending is my problem, as well. Like you, I could be putting more into my snowball if I reigned in the spending. I don't think you should be so hard on yourself but perhaps I'm not the best person to answer this question. I know that when I listened to DR, he advocated tightening your boot straps as tight as you could and just deal with it until your out of BS2. I haven't been able to stay on that type of plan so I'm hoping that if I just say my snowball must be xx amount every month and any commission checks, bonuses, unexpected money that comes in goes straight to BS2 that I can stay on plan this time.

Any advice from the more seasoned veterans about staying on track?
MyTwoAs is offline  
#103 of 116 Old 12-26-2009, 03:49 PM
 
Maluhia's Avatar
 
Join Date: Jun 2007
Location: in Paradise with my Papaya!
Posts: 5,157
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
A lot of visual - sitting down to LOOK at the progress monthly for some, having that sign of the wall for others, for me it's an ongoing app in my iPhone.

I'd re-read one of his books to get re-motivated and I certainly do that off and on throughout the year, the tightening the bootstraps is really great when it FEELS like it has a purpose. It's a lot harder for me post-BS2 in that saving up to pay at least 50% down on a house is SLOW SLOW SLOW and I need to kick myself in the pants on that one.

Your User Agreement here at MDC, read it and make it your friend and read the FAQ to answer all the questions of the (MDC) world.
Maluhia is offline  
#104 of 116 Old 12-26-2009, 04:44 PM
 
MyTwoAs's Avatar
 
Join Date: May 2004
Location: In my own little la-la land
Posts: 3,608
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Thanks Maluhia - I've dug out My TMMO and I'm going to reread that. I think I need to start downloading DR's podcasts as well. I'm a gadget geek (which is where I need to reign in spending the most) and I have an iPhone so I'd love to know what you use on your phone. I'm a visual person so I love the idea of having something visual and portable.
MyTwoAs is offline  
#105 of 116 Old 12-28-2009, 11:45 AM
 
eirual's Avatar
 
Join Date: Mar 2006
Location: GTA, Canada
Posts: 4,314
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
So my FIL came into some free cabinetry. We bought our house fairly cheap 3 years ago knowing the kitchen would have to be re-done to get a decent price back when we sold (5-10yrs). So, our kitchen was totally liveable, but with DH going to school out East in the fall AND free cabinetry coming our way we figured if we were going to re-do the kitchen, now's the time! Having a finished kitchen was the main goal for this house as the turn-around when we sell (maybe this Fall, but probably not) would at least be reasonable.

So, instead of a relaxing holiday together, we're tearing down walls and cabinets and leveling floors together.

So far it hasn't cost us any money 'cause we're still in the demo stage, but DH and I have both agreed that we're only going to do what we can as we go and we won't spend $$ we don't have to finish it. We're keeping our appliances and our sink. We'll likely have to dip into the emergency fund, but hopefully not. I'm willing to live with plywood countertops until we can pay cash for finished ones (which can take 3 wks to come in anyhow).

There have been a few surprises along the way (like the current walls being plywood, and the original 1920s outter wall having a 1" cavity and no insulation) so we'll have to re-dry wall all the walls, frame-up and insulate the outter wall so far. But we can handle that. I'm hoping there won't be too many more surprises as we go!

The flooring I love was on sale too, so a new floor will only cost us about $150 (not including the leveling of the sub-floor). So...it was a big jump, and kind of scary to commit to, but I'm hoping it will pay off and I am soo happy to be rid of the previous kitchen- whoever made/designed that made a huge mess of it.

We're aiming to be finished (minus the countertops) by next weekend.

Laurie, wife to guitar.gifDH (Aug/04), mom tobikenew.gifDS1 (Nov/05) and bfinfant.gifDS2 (June/12).

 

eirual is offline  
#106 of 116 Old 12-29-2009, 10:39 AM
 
Rev1053's Avatar
 
Join Date: Oct 2007
Location: Western Wisconsin
Posts: 707
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
This was a great year!
Thank you to DR even if I hate having a budget and hate having to be accountable.

Next year I hope to finish BS3. YEA!

Mom to '97, '07, '09 and birth mom '00 and wife to my BFF
Rev1053 is offline  
#107 of 116 Old 12-29-2009, 02:35 PM
 
applecider's Avatar
 
Join Date: Jul 2005
Posts: 2,007
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
eirual-that sounds awesome! We need to do our kitchen too and I am not looking forward to it. DP is going to make cabinets but he's not super experienced so that should be fun I hope no more unexpected expenses come your way.

As for my goals for the new year, I REALLY want to stay on budget, even just for one month. I KNOW we can do it. It's just having the discipline. The last two months were crazy. Lots of birthdays, holiday parties, Christmas, I don't even want to know where the money went. All I know is that if we can save $400 each payday and stick to our budget, then by the end of March/early April we will have enough to pay off the stupid #$%$#%$# motorcycle. Then I'll get to work on my student loans (around $6,000) and BS2 should absolutely be done by the end of next year if not sooner. Then (and I know DR doesn't say to do this) I would like to start throwing $$ at the mortgage because right now we owe more than it's worth and I would really like to be able to drop PMI and be able to move if we want to. I guess he does say to try and drop PMI. So anyhoo, that's what we'll be doing next. YAY.

Love this thread for accountability. Hope you all have a happy New Year!!

                                       DS 7 ~ DS 3

applecider is offline  
#108 of 116 Old 12-31-2009, 01:41 AM - Thread Starter
mtm
 
mtm's Avatar
 
Join Date: Dec 2003
Posts: 1,481
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Ack, I had long replies to everyone and then lost them. Sigh. Back from vacation without a single inlaw story to tell. Only drawback to the trip was it was cold

Welcome MyTwoAs and Codys'momma. Cody's, are you on bs2 or bs1? Bs1 is saving the emergency fund (1000 normally). I'll add you to the master list.

beansmama, great job on the ffef and on lowering your bills.

lalaland42, how is the new budget working out?

eirual, you've made a lot of progress this year! I bet you'll get to your 6000 by the fall. We need a pic of the graph please!

mamatowill, what motivates my dh is being able to plan to do stuff. He's more rewards based than I am so for each debt paid off or level reached we built in small rewards, dinner out, etc. He's really on board now that we're saving for a vacation once we're done bs3. Figure out what will help your dh, is it a reward built in? Is it seeing how fast you can get out of debt? Saving for a house? I do think you can do it on your own and hopefully win him over but it is harder if he doesn't get on board.


Cody'smomma, do get tmmo out of the library, I found it quite helpful to see the worksheets, read through it. It will help clarify some of the why's behind doing things in order.

MyTwoAs. good job sending that big payment in!

eirual, yay on the new kitchen remodel! ;

Rev1053, you have had a great year!
mtm is offline  
#109 of 116 Old 12-31-2009, 01:03 PM - Thread Starter
mtm
 
mtm's Avatar
 
Join Date: Dec 2003
Posts: 1,481
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
As a last hurrah for 2009 anyone want to do a challenge? Go back and find your first post of the year and lets see how far everyone has come this year!

I searched mtm and ramsey and got the threads back to feb. Feb was a great month for us, that's when we entered bs3!
mtm is offline  
#110 of 116 Old 12-31-2009, 01:12 PM
 
applecider's Avatar
 
Join Date: Jul 2005
Posts: 2,007
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Oh, I'm on BS2. I was all set to send $5,000 to the bike yesterday, but then DH got to saying that he hopes he still has work come April. So I decided to hold off till then, I even have a stamp on the envelope! So as soon as I know for sure that he has another job coming up, I'll throw that baby in the mail.

                                       DS 7 ~ DS 3

applecider is offline  
#111 of 116 Old 12-31-2009, 02:49 PM
 
annethcz's Avatar
 
Join Date: Mar 2004
Location: on the beautiful prairie of MN
Posts: 9,947
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Eirual- the kitchen sound awesome! If you want to go cheap, have you considered concrete countertops? If you're handy, they're not too diffucult to make and relatively inexpensive. I've checked out several library books on the topic, and it's amazing how good they can look! Google 'build concrete countertop' and you'll find a wealth of information.

I haven't been posting much, but we're still plugging along on BS3. I'm not a die-hard DR follower; we're also contributiong to 401ks, ROTHs and 529s while we're working on the FFEF. But we're at 60% FFEF, so hooray!

New signature, same old me: Ann- mama of 2 boys and 2 girls, partnered to a fabulous man.
I'm an unintentional weasel feeder and I suck at proofreading.
annethcz is offline  
#112 of 116 Old 12-31-2009, 03:05 PM
 
annethcz's Avatar
 
Join Date: Mar 2004
Location: on the beautiful prairie of MN
Posts: 9,947
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by mtm View Post
As a last hurrah for 2009 anyone want to do a challenge? Go back and find your first post of the year and lets see how far everyone has come this year!
What a good idea!

So here are a few things I said on Jan 1st 2009 (on the Jan. 2009 DR thread):

Quote:
Originally Posted by annethcz
I'm joining back in. I'm going to state at the start that I'm not a big DR fan, I disagree with some of his advice. But I am a fan of the snowball concept, and since I'm still in debt I'm going to hop back onto this thread to get some more support.
Still the same

Quote:
Originally Posted by annethcz
I'm trying something different this year. DH gets paid every two weeks, and I'm a SAHM. In the past, I've always figured out our budget for every 4 weeks. This year I'm going to budget based on calendar month, and see if that makes a difference.
I've tried to do this so many times, because it seems like that's the way everyone else budgets. But it just never works for me, so I should stop trying. Budgeting for 4 weeks (rather than month to month) just makes more sense for us.

Quote:
Originally Posted by annethcz
So here we are:

BS1: DONE
BS2: 6902 balance Jan. 1
And here I am at the end of December 2009, after quite a bit of floundering and falling down:

BS1: DONE
BS2: DONE
BS3: 60% FFEF

If we were following DR, we wouldn't be doing these things, but.....
BS4: 12% gross income to retirement accounts
BS5: 2% gross income to college savings accounts for our kids

New signature, same old me: Ann- mama of 2 boys and 2 girls, partnered to a fabulous man.
I'm an unintentional weasel feeder and I suck at proofreading.
annethcz is offline  
#113 of 116 Old 12-31-2009, 03:58 PM
 
MyTwoAs's Avatar
 
Join Date: May 2004
Location: In my own little la-la land
Posts: 3,608
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
annethcz - I budget based based on two paychecks/four weeks instead of on a monthly basis. The bills come only one time a month but I budget them out of those two paychecks and then twice a year, I alter my budget - move bills around so we have "extra" money in those paychecks. That money goes to the snowball.

Congrats on the great year you've had in 2009!
MyTwoAs is offline  
#114 of 116 Old 12-31-2009, 06:50 PM
 
Sarah8Jane's Avatar
 
Join Date: Dec 2007
Posts: 383
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
01/02/2009
BS3 Emergency Fund: $549/$9000
(BS3b Down payment for house: Done
BS3c Car replacement: $0)
BS4 15% of household income to retirement: Done

Well, I'm also glad it's January. We had our emergency fund up to about 50% and then determined that we needed to replace our 22 yo vehicle.

Today
BS3 FFEF: Done
(BS3b 20% Down payment: Done
BS3c Car Replacement: $4050)
BS4 Retirement: Done
BS5 NA
BS6: 27%

Goal for 2010: Hit 40% in downpayment fund...or, I guess, buy a house.

I miss my beater car. When I see it on the road now, my heart skips a beat. Yeah, I'm pathetic.

me, 28 & dh, 32.
Sarah8Jane is offline  
#115 of 116 Old 12-31-2009, 09:52 PM
 
MCsMom's Avatar
 
Join Date: Jan 2006
Location: WA
Posts: 1,195
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by mtm View Post
As a last hurrah for 2009 anyone want to do a challenge? Go back and find your first post of the year and lets see how far everyone has come this year!
Jan 2009:
We are now 50% done of a fully funded emergency fund BS3. And our budget till next payday on the 15th is pretty tight, but if I am even one dollar less into savings, then we are only 49% there, and I really want that 50%. I know I can make it work though.

Dec 2009:
BS3 - We now have a 100% FFEF, and a new (to us) car that was paid in cash and paid 10K to our condo mortgage.

BS4 - 8.5% to retirement

Go Green I don't vax either, why mess with perfect?
MCsMom is offline  
#116 of 116 Old 01-01-2010, 09:43 AM
 
Softmama's Avatar
 
Join Date: Jun 2003
Posts: 1,035
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
(a wee bit late, but I wanted to play!)

January 09:
so my question is: does the home equity loan count as debt that needs to get paid off before we start to save. we currently have two retirement accounts and three college accounts we contribute to. do we stop that in order to pay off the equity loan?? and we DO NOT have three to six months of expenses saved.
help

December 09:
we stopped the retirement/college until we had a FFEF, then started those up again and are now attacking the HEL. So I guess my biggest difference in a year is that BS3 is DONE and we have paid 7K of a 35K HEL
Softmama is offline  
Reply

Quick Reply
Message:
Drag and Drop File Upload
Drag files here to attach!
Upload Progress: 0
Options

Register Now

In order to be able to post messages on the Mothering Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
If you do not want to register, fill this field only and the name will be used as user name for your post.
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



User Tag List

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page


Forum Jump: 

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off