Getting Out of Debt in November - Page 4 - Mothering Forums

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Old 11-26-2010, 10:03 AM
 
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3times, I just went to Bare Necessities site and found out that the Wacoal minimizer I wear (style# 85122) are on sale for $46.50 for the ivory & black, but I ONLY buy the nude, So I decided to hit Amazon on a whim. I don't know why I didn't do that BEFORE. The REGULAR price on Amazon is $46.50 rather than $62 AND I got the nude color AND two day shipping (free) since I'm an Amazon Prime member. There were only 3 left in stock and I ordered them all. My bras were in such bad shape. I desperately needed these. So, if you take the style number of whatever you like, try Amazon
 

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Tradd, I got one that was goddess brand to try out. The other four bras are glamorise. Sadly I have to wear two at once to have proper support:( I will be getting a reduction when we KNOW we are done having children. Right now we are considering a fourth. I will have to look into your brand! My deals though were 15% off with a code from retail me not and 10$ for a black friday sale and free shipping for an order of ATLEAST 50 bucks:) So I think if they have your product you WOULD qualify!! I LOVE a deal:)

 




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Old 11-26-2010, 12:09 PM
 
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Tradd I checked those out. Sadly they look nice but they do not go big enough for me:( So sad. Someday I will be able to wear them;) Someday:) I am glad you found deals though!!

 

My two A's that just rocks! Congrats!!!

 

Turqesa, Absolutely you could need to finance that or have just needed to suffer through the winter!! It is awesome that you can cash flow it!

 

 

Chely, YAY!!! It is AWESOME not to go in debt for xmas! I am ALL done except for 60$ worth of last minute things like candy and daycare children gifts:) There will be little surprises but I can handle it:)

 

KTG, As long as you are going to get to point B in the end, I would say go crazy!

 

Black Friday shopping irritated me a bit. I was able to get the leapster but not at any deep discount. Infact the price went from 55 to 70!! Target gave me a 10$ gift card so that was good GRRR though I have had my eye on that for so long and it was 55!!!  I was able to get the game he wanted for it which was sold out on amazon. I also got them hi ho cherryo and toy story 3. We have the others. I was able to stay in cash! I was able to also get sneakers for DH and I. It is ALL cash flowed. Except that the sneakers are on the sears card so I could use this coupon. Turns out the coupon was no good with shoes. I didn't think of that until I got home. I realized now I have the hassle of paying that bill instead of just using my debit while I was there. Oh well. I also tried to get a target red card with 5% off. It was just the debit card and it says it needs further review. Hmmmmm. I have NEVER so much as bounced a check! Its not a CREDIT card either. I don't know. I can only assume it was a fluke at this point.

 

Well I am off to rest while I can. The entire family home is rather unmotivating!

 


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Old 11-26-2010, 01:17 PM
 
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I got a few really good BF deals on Amazon... we had a 100 dollar budget for my brother and sister (100 each) for their birthday (18th) and hanukka and I was able to get my sister a pretty decent point and shoot digital camera with a 4GB memory card for under our budget and I got my brother's Xbox game for 40 instead of 60.  I also got a pair of a boots and a pair of sneakers for me (the only shoes I own are flip flops and heels and its cold) and a pastry mat for my mom.  Then I got my mom and dad 100 dollars worth of restaurant.com certificates for 12 dollars!  All I have left to do gift shopping wise is an itunes gift card, a visa gift card, an 18 mos girls outfit, an 18 mos boys outfit and a 3T girls out.  Feels good to be almost done!


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Old 11-27-2010, 11:38 AM
 
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Thanks for all the replies.

Laohire- On reflection I would agree I don't think we are on the same page. If you ask him though I am the one spending all the time- not him. Most of the debt is his or taken on to deal with stuff for him.

 

My husband unfortunately currently is unable to hold off on his wants long enough to clear up the debts. He feels he deserves them and since other people are "worse off" then us then hey we should spend it. Essentially we are young and this is normal. He will not listen to any of the success stories on Dave Ramsey. I have the Total Money Makeover he won't read it. I am not sure what we will do. I know that I don't want to take on any more debt. Plus his jobs are not stable- more of contract positions. I have the stable job with the stable income. Anyways I am going to have to think on this. If there is any advice on how to get your partner on board let me know.


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Old 11-27-2010, 01:24 PM
 
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I have no advice except to put TMM in the bathroom.

 

From reading here, a fair number of husbands actually read material left for them in the bathroom. In fact, just last night I planted a book for my DH - I've never tried it before, but we'll see how it goes.

 

But you already know that you can't make someone do anything, and you can't make them want to do something. It is incredibly frustrating when one person is working toward a financial goal and the other just isn't onboard. There is no magic bullet. Money taxes marriages. All you can really do, I think, is keep gently pushing it but also don't raise your blood pressure over it. Good luck.


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Old 11-27-2010, 07:04 PM
 
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Put the book in the bathroom! I LOVE it! Haha!!

 

My other thought is have you ever read the surrendered wife?? She gives her husband all the financial responsibilty. I must say I can't do it. I haven't given my husband control and that woman just makes some compelling arguments for why you should. For one thing if hes not always at odds with you he might just come to YOUR side. I have to say someday I plan to give DH control. In the mean time however I will have set up automatic debits for savings (I don't believe he would do savings at all! This way he MUST!!) I would set up our FFEF and basically it would be a no brainer for him. We will see if I EVER gather the courage. Even if you don't turn things over (like I am not doing;) You can let him FEEL in control. I know what your going through though, my DH has made me put the FFEF on hold until January for that 1600.00 dollar gun! AHHHHHH!! So I don't know that you should listen to me;)


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Old 11-29-2010, 07:23 PM - Thread Starter
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I like the advice to put the book in the bathroom.

 

Hey, if you've got any good thoughts to spare, AnnetteMarie who posts on these threads had her twins and had some complications, its all in her due date club (dec) if you want some details but thought we could send her some good wishes to a speedy recovery and some love to the new babies.

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Old 11-29-2010, 07:43 PM
 
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I haven't read through the thread yet (will do that in a sec), but I wanted to introduce myself. MTM suggested this thread so I want to follow along.

 

I am a nursing student and will be graduating in 3 weeks. Right now my husband works, and we live off of that and my student loans. When I start working my DH will be going back to school. I plan on following a modified version of Dave Ramsey's plan in order to get us out of debt. Right now we're barely squeaking by so really there's not extra to put toward an EF (had to borrow just to pay Nov rent and will be doing the same for Dec; no clue how Jan will get paid). I start my new job in Jan, though, so I hope to get going in Feb.

 

My plan:

$1000 EF

start snowballing while beefing up EF simultaneously (prob a 1/2 and 1/2 arrangement)

I also intend to start retirement and kids' college funds

 

I know Dave wants you to work the steps one at a time, but I'm just not comfortable putting off saving for retirement and college funds. We have a lot of debt (my student loans are around $83,000 plus my husband has some that we haven't been paying and we also have some smaller credit card type debts - all in all it's probably around $120,000 if you count what I owe family members, too) so it would be a long while if we worked the steps in order. Also, quite a bit of our debt has gone into collections and I'm not currently paying those. To me it doesn't make sense to resurrect all of that before starting to save. I do intend to eventually pay all of those debts off, but our credit is shot already (and I don't really care about cleaning it up in a hurry b/c it will probably be a while before we'll be ready to get a mortgage - and I don't plan on using credit for anything else, except maybe a car..I know, I know, get a beater) so I don't see the hurry on snowballing those bills to the exclusion of savings.


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Old 11-30-2010, 08:26 AM
 
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Welcome Lavatea!  And don't worry about "cheating" on the program by working on steps simultaneously.  I'd have a fully equipped EF by now if I didn't keep contributing to extra mortgage payments and the education fund.  It just means that my baby step will happen a little more slowly, and I can always revisit the issue if it looks like we're going to be in a bind (which actually may be happening, if you see my previous post!  guilty.gif   But hey, that's what the EF is for!)  I hope you find this thread as inspiring as I do. 


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Old 11-30-2010, 11:14 AM
 
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I paid another 225 toward CC#2 today! Yesterday I did put 73 dollars on my Old Navy card but I had a coupon and my oldest REALLY needed clothes!  I spent 45 dollars on 6 shirts, 4 sweatshirts, a pair of jeans, and 2 pairs of sweats.  I have the cash to pay it off so as soon as I get the statement I will pay it off.  Next paycheck (the 15th) I should be able to totally pay off CC#2!!

 

Also, we aren't doing the steps in order.  We don't have an EF yet but we HAVE to get debt paid off while DH is deployed because we can't afford to pay our bills and save without his deployment pay.  Everything should be paid off by tax time so I will start saving then.


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Old 11-30-2010, 11:52 AM
 
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laveta, I see nothing wrong with changing dave's plan. I think his point however is to focus on one thing at a time. Some of the ladies have chosen to make the FFEF FIRST and THEN focus on debt. Whatever works.

 

Chely, I do that too. I put things on the card to get discounts BUT I have the cash:)

 

AFM, I get the extra check Friday. I sign 500 to DH for that gun and the rest is gas and the rest of the money is savings:) I will let you know what we get!


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Old 11-30-2010, 12:21 PM
 
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I was very pessimistic about our finances but now that November is closed, I am thrilled to have put away what I consider a decent amount of money. BEF is up to $535, and our savings "buckets" (savings that are intended for specific purposes, like heating oil or medical or airfare to visit my parents) are also getting decently funded. Once those savings buckets are in really good shape, we should have more to put away toward the unspecified EF. Some of the savings buckets might technically be the EF, such as the medical (goal is to save $1000, the max deductible for one person - would mean medical expenses would not likely have to touch the EF at all) or the auto (goal is to save $500 which should cover basic maintenance and repairs). Also, some buckets might even give us cash back later, for example when we pay our property tax and if anything is left over, we can put that money in the EF or toward our mortgage or something. Anyway, it will take a long time but surely within a year we will have built up enough cushion again that we should be able to cover all the usual stuff without affecting much of anything.

 

I also paid $21 extra to the mortgage, which is a measly amount but I'm happy. I intend to send at least that much extra every month. Previously we committed to paying down the student loan but I ulitmately felt that the amount of time we'd have to have no cushion for (3.5 years) is too risky, and the end result would simply be that we're off the hook for a $165 monthly payment, which is not nothing but isn't going to really change our lives. The rate is, what, 2%? Lest I sound like I'm fine being in debt, I'm not, I think I am just going to refocus on our savings and then maybe the mortgage next - not that we can pay off our mortgage anytime soon but we can save soooo much more money over the life of the mortgage by sending a little extra to that. Whereas the same effort for the student loans gains us very little.

 

Onward and upward to December! December is a 3 paycheck month for us! But unfortunately some of that extra is already earmarked toward some stuff like paying the balance of our CSA ($300) - that reminds me, I need to add a savings bucket for the CSA so we're already setting aside money for the next season and don't have to feel the pinch at the end like we are now.


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Old 11-30-2010, 04:06 PM - Thread Starter
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lavatea, sounds like your situation will look up a bit when you go back to work. Does your dh start school right away or will you get some double income time to hammer the bills? The worry with not doing the steps in order is that its hard to stay motivated without little victories. I'd consider putting the students in a later step and doing step one and two (the credit cards anyway) and then hitting retirement either in conjunction with the student loans or even before them. I'm leery of you pre-paying your kids colleges when you're own are still hanging over you. I hope Dec and Jan are good to you until you get your traction going in Feb. Let us know if we can help with budgets or bouncing ideas around.

 

chely7425, great job on that cc. Be careful messing with credit cards, I've been bitten playing that game.
 

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Old 11-30-2010, 04:08 PM - Thread Starter
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laohaire, that's great that November turned out to be good for you! Yay for the three paycheque month.
 


 

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Old 11-30-2010, 09:16 PM
 
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Quote:
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lavatea, sounds like your situation will look up a bit when you go back to work. Does your dh start school right away or will you get some double income time to hammer the bills? The worry with not doing the steps in order is that its hard to stay motivated without little victories. I'd consider putting the students in a later step and doing step one and two (the credit cards anyway) and then hitting retirement either in conjunction with the student loans or even before them. I'm leery of you pre-paying your kids colleges when you're own are still hanging over you. I hope Dec and Jan are good to you until you get your traction going in Feb. Let us know if we can help with budgets or bouncing ideas around.

 

chely7425, great job on that cc. Be careful messing with credit cards, I've been bitten playing that game.
 



I think he's going to go straight in in January. I would ask him to wait, but he's never been this motivated to go back before and I want to jump on this since he's ready. He's agreed to a community college so hopefully the bill won't be too bad. The ultimate plan is for him to get a good paying job and me scale down my work load (or quit altogether). That will be 4-5 years, but I want to be as close to a SAHM as possible. That's where my heart is. And eventually I'll get my Master's and be a midwife. Not sure when that will happen.

 

I like the idea of saving the student loans for a later step. They are HUGE and scary, and I just don't see them going away very quickly.

 

I know funding kids' college before paying off our own isn't ideal. I just really feel like we need to contribute, and our oldest is already 6. So if we don't get our loans paid off for 10 years that would only leave 2 to save up for hers. Hopefully it will all fall into place way before that, but whoever knows.

 

We both come from families that struggled to get by and I hate to see that for my kids. I want to get ahead of this stuff and set them up for a good future.

 

Oh, and I started bouncing some ideas around in my head, but it's a bit premature as good income won't be rolling in until early February. But I'll definitely be following along until then and will probably be asking you guys for input when the time comes.


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Old 12-01-2010, 01:02 AM
 
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HI,

I didn't see this thread until now but I wanted to add me to the list and update that we are debt free now (as of Nov 23).

We kind of follow Dave Ramsey too and now we need to start saving FFEF and save for a down payment for a house. 


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