Dumping Debt with Dave Ramsey/FPU Club - Page 5 - Mothering Forums
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#121 of 287 Old 10-21-2007, 11:28 PM
 
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Here's some more motivation for everyone:

Dave Ramsey on Setting, Meeting Financial Goals
http://www.cbsnews.com/stories/2007/...n2340387.shtml

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#122 of 287 Old 10-22-2007, 12:14 AM
 
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I am so excited to see this thread! I really needed this tonight.

We are on BS 2. DF is working his normal weekday job, plus a part-time job from 2-6 am, also on weekdays. I work weekends.

DF's day job is salary (chef at a small conference center), and this week he wound up having to work all 7 days. Plus we have my dsd this week (definitely increases the workload on DF). It's Sunday (she's been here since Friday), and he is already unbearable to be around. He's tired and crabby. The kids were pushing his buttons all afternoon while he was trying to watch the football game, which was his first chance to sit down and chill all weekend.

On nights like this, I sometimes feel like giving up. I feel like our relationship is suffering big time for the cause. But OTOH, writing those checks to pay off debt has been so sweet.

Reading this thread has really helped with some needed motivation. Someday this will all be worth it.

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#123 of 287 Old 10-22-2007, 12:33 AM
 
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I am frustrated and excited at the same time. I have 26 savings bond in the denomination of 100 per bond. Some are over 5 years old. I just found out that they don't completely mature for like 30 years. I have been getting these through work ($10 per paycheck) to save for the kids for college. Now I find out that they are likely to be well out of college before they mature.

So... I am cashing them early. It will actually help us completely pay off 1 bill and part of another. A better trade off, I think. Still, when they sucker you into those, they tell you 10 years. What a crock.
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#124 of 287 Old 10-22-2007, 01:32 AM
 
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I'm excited to share that we sold our second car earlier today for just over $5000

Doing this will allow us to accomplish pre-B and BS1 as well as budget for living expenses till DH higher summer wages kick in in June. Tomorrow morning will be my first to get up with 13 month DD and drive hubby to work at 7:30am--yikes!--that's going to be a challenge for me and I hope Mazie doesn't mind too much since she is used to a more leisurely start to the day.

My challenge after screwing up the finances *many* times over the years is to intelligently and systematically handle this influx of cash. I'm so glad to have found Dave and so many of you at MDC to inspire me to focus and truly make a plan. If I feel brave maybe I'll post it here

treehugger.gifdh + geek.gifme + biggrinbounce.gifdd 9/06 + rainbow1284.gifbabyf.gifdd 5/13
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#125 of 287 Old 10-22-2007, 04:42 PM
 
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Dave Ramsey rocks!!!!! I love this group. Hearing about all of your accomplishments is so encouraging!

I just called and closed a credit card today. What a GREAT feeling!!!! I've paid off about $1000 in debt this month. It's such a rush! It makes working the 2nd job so worthwhile.

Have fun being weird!

--Single mama, and future foster mama--::
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#126 of 287 Old 10-22-2007, 04:49 PM
 
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I just went to Target for envelopes and came out with ONLY envelopes! That's big for me!

Desiree

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#127 of 287 Old 10-22-2007, 10:19 PM
 
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Good job Desiree!

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#128 of 287 Old 10-22-2007, 10:57 PM
 
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We went in for a Halloween costume. I am glad that we waited until today to get it. Most of the Disney princess stuff was gone and I was able to finally talk Em into one that was more historical and real, even if it looks like a queen outfit. At least it has nothing to do with Cinderella and sleeping beauty. And it was 30% off and that was the only thing we bought!

I also cashed in some savings bonds today and we have enough money to pay off and cancel (and get the cancellation letter) for one card! Woot!
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#129 of 287 Old 10-23-2007, 12:13 AM
 
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:

We paid off our *only* credit card today!!!!! $2,677.22!!!!! Erm.....the interest was at 30%......

Last week, I called the hospital where I had my last surgery(1/2 way across the country from where we live....) to set up a payment plan. The remaining balance after insurance paid was$1,277.44. After being re-directed a few times to a different ph. #, I spoke with a lady who informed me that the hospital had been bought out early this year.....and they wrote off my balance!!!!!! More >>>>

On a smaller note, our Parish had the "three year" photo shoot for the directory back in the summer, I was talked into a *package*(hey! it was the day before our 17 yr. anniversary!!) and told we would receive the photos in less than thirty days-and I paid 1/2 of the total that day. *Well* the photos never came-and I forgot about them! So, I contacted the company, they sent the photos, and refunded the $$-$80!!!!

And on an even smaller note....a refund check was issued to us from our.....NOW SIT DOWN EVERYONE-AND NO! YOUR EYES ARE WORKING JUST FINE!.....health insurance company-for $17!!!!!!

I have walked to the HFS several times-each time being rewarded with a free bus pass.

Ummm...what else...oh yea!.....we were really late on paying for our cats tags. Lots of late fees had been added on to the original fee. I asked them if they could please waive the late fees and I would pay the remaining balnce right then....they did! Another $30 saved!!

I've also decided to grow my hair back out. It is a super cute cut-but it is soooo $$$$ to keep up every 4-6 weeks. Each time the cut was $28. Yes, I look horrid right now, but this too shall pass.

As for our car update.....we are continueing to do without one. *Very* difficult to do where we live,but we do *not* want to take on a car payment until we are paying off more medical debt. Groceries can be delivered, and the planning of meals and not stopping for take out(or eating out!) is saving us a ton of $$$.

Unfortunately, I have to deal with a super nasty collections lady in the AM-to deal with our biggest debt next to student loans and mortgage.......:


DH isn't entirely on board with Dave....and this move to pay off our CC maynot have been the smartest....but it has set us on fire!

Thanks for all of your inspiration(and listening!),

mp
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#130 of 287 Old 10-23-2007, 07:59 AM
 
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Wow what a great day! Congratulations!
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#131 of 287 Old 10-23-2007, 12:30 PM
 
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Bs1 $83.05/1000

Midwife (CPM, LDM) and homeschooling mama to:
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#132 of 287 Old 10-23-2007, 02:00 PM
 
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You are all so inspiring!:
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#133 of 287 Old 10-23-2007, 02:08 PM
 
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Yay mp! That is awesome!

Quote:
Bs1 $83.05/1000
Doing great!!

I have $3 of my 1000! LOL I need to look harder to see where I can save more! We have out of state family coming for 9 days and its hard not to spend while out and about.....I need to plan cheap things in advance. Just say no to D-land please! (everyone always wants to go there when they come.)

Desiree

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#134 of 287 Old 10-23-2007, 04:40 PM
 
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Jumping on board after failed attempts of trying budgets, it never lasts..... We have just put another $5K on CCs in the last month. Cashed a cash adv check (0% or very low interest, can't remember now) to cover things like nursery furniture (of course my DH has to get the best and most expensive), plasterer and floor guys for the nursery. (mind you, DD is now 7 1/2 mo). Her room was completely gutted and redone. Now we are paying a guy $25/hr to finish up the carpentry. We also need the finish carpentry on 2 other rooms that have been gutted and still need finishing. UUUGGHHH. I am most positive we are operating in the red every month. Plus last week we had some major car repairs on our primary car and bought a second ('99) car the day our car broke down (it just happened to break down the day it was delivered). We bought a second car because I was loosing about 1-2 hrs a day driving my DH to the commuter rail 1/2 hr away. I am working on a budget now, we are always current on most of our bills (at least all the important ones). But we are constantly juggling our (DH's) credit cards around to the lowest interest ones. Which is a pain, and now law says they can charge the 3% transfer fees, so it isn't quite the deal it used to be. We lost track (I know bad!) of how much debt, but I think it is around 30K. We were tracking it pretty good every month and my DH was making good progress, but life happens (we need that emergency fund). My DH is getting a bonus check at the end of the year, and with tax returns, we were planning on putting all of that onto CC debt and for the emergency fund. I am just trying to get DH on board which is really difficult as many of you have the same problem... He said he wants at least $50 a week to spend on comic books (yeah right!) Keep dreaming! we will try $50 a month. or the $50 a week to spend on whatever he wants, including snacks/drinks at work. I have been packing his lunch every day so that helps some.

I watched the you tube videos of the FPU, and I found it interesting. I left one up on the computer and DH was watching it, the one on the mortgages. He is all about trying to refinance down to a 15 year fixed. We have one of those nasty adj, but it is only 3.875% at least for the next year and few months, and can't go up more than 2% after that for another year, so I think we are set on rates, but I think I may start sending in my payment bi-weekly (of course my bank didn't offer that option). But when the fixed rates drop below 6% we may refinance.

We both make decent incomes, it just all goes to debt! We would be living like kings, if we didn't have all this debt. We also have 100K in student loans that are in forebearance at the moment! UUUGGHHH!

I hope this thread will help get me motivated to do something about this hole we are in.
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#135 of 287 Old 10-23-2007, 04:50 PM
 
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Welcome Heather!

We have one of those nasty adjutable mortgages too and its all a lie....it started at 4% and within a year it was at 6 (and now 3 years later its at 10%!!!!!) We had a $5000 prepayment penalty for refi-ing PLUS refi fees so we didnt do it and still have that 10%. Wanted to sell but the market is garbage so we are stuck at the moment. If we refi our payment will go up (the adjustable lets us pay lower the minimum which is how we are even keeping our house at the moment.) UGHHH. About 25% of our neighborhood is forclosed empty houses...so I am betting a ton of us got screwed with those bad loans and with the market being garbage cant get out another way.....

Next house is FIXED ONLY. I will NEVER do adj again.

Desiree

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#136 of 287 Old 10-23-2007, 05:34 PM
 
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Well luckily I worked for the bank I got my mortgage at. It is a 5/1 arm, at 3.875, after 5 years it can go up no more than 2%, then after that no more than 2% a year... It caps out at 10%. So it isn't too bad, we still have just under a year & 1/2 left. we didn't qualify for a fixed because we had no money down, so it was the only way. Luckily they are keeping my .50% employee discount even tho I don't work there anymore. I was reading about the ARM crisis that is going on now! Yikes. I guess if you have cash, you can make out big time by buying up forclosed real estate.
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#137 of 287 Old 10-25-2007, 12:08 PM
 
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We're at $137.55/$1000 for BS1!!!

Midwife (CPM, LDM) and homeschooling mama to:
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#138 of 287 Old 10-25-2007, 01:23 PM
 
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Yay!!!!

Desiree

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#139 of 287 Old 10-26-2007, 03:23 AM
 
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I'm so blessed. I have enough to afford every bill this paycheck and then pay for the transfer to the new apartment by dec 1.

This move will be so emotionally trying and scary, I'm going it alone without hubby. He's in country of the balckgold, oil that is!

I'm planning of planting alot of plants around my house and feeling like only buying a couch and a dining set and bed will make me rich (I'm living with broken junky really old stuff that literally will not last another move. If I buy one peice each with my one paychecks per month before I get the car then I will still be doing good!) reallly really wealthy and solvent and capable! Help me, all you wise wonders who've paid so much off!
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#140 of 287 Old 10-26-2007, 06:49 PM
 
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That is so cool. Congrats!


I paid off one card today and sent another 700 to another bill. Woot! Now, we are down to just 300 on the second card in the snowball lineup!
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#141 of 287 Old 10-27-2007, 05:34 PM
 
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We are getting paid every two weeks, which translates into getting a 3rd paycheck every 5 or so months. November is one such month. With this paycheck, we could pay off the one and only credit card we have, but we haven't finished BS1. WWYD? (I'm also posting this on LLNOE).

Trisha

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#142 of 287 Old 10-27-2007, 06:34 PM
 
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Quote:
Originally Posted by mysticmomma View Post
We are getting paid every two weeks, which translates into getting a 3rd paycheck every 5 or so months. November is one such month. With this paycheck, we could pay off the one and only credit card we have, but we haven't finished BS1. WWYD? (I'm also posting this on LLNOE).

Trisha
You work the plan and get your grand, darlin'.

Is Eric on board on the plan?
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#143 of 287 Old 10-27-2007, 07:11 PM
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Mystic, I'd put the money onto the emergency fund first b/c then if you have an emergency fund, you won't need the credit card again. Last thing you want is to slide deeper into debt. Get that safety net then take all extra to the credit card.
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#144 of 287 Old 10-27-2007, 07:55 PM
 
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Trisha- we paid off our one and only CC first, but *only* because the interest rate was at 30%, and it was a *major* stressor for my DH-it felt so good to him to have that off our shoulders. It wasn't sticking to Dave's plan, but it definitely put the fire under us....

Also....my DH isn't totally on board with Dave. While he makes the $, I am the one who does the bills. Neither of us are spenders-at all. He just said last night that we should think about getting another CC in a few mos.(for emergencies) : Over my dead body!!!!:

Wanted to pop in and say-and sorry if I'm repeating myself-the gas company came out to replace our meter(we live in an old fixer upper) and our bill just came back with a $500 CREDIT!!!!!

Also called our cable company-we have the cable/phone/internet deal- to say we are switching/downsizing due to the high prices. The woman said we hadn't been on any *packages* for a long time, and she could switch us to one-saving us about$250!!!

mp(stressing about how to give DD a nice BD in a few weeks)
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#145 of 287 Old 10-27-2007, 08:02 PM
 
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We have to keep our thermostat at a low 65 degress for the winter-very cold in our area in a big fixer upper!

So! I am getting all of our *ducks in a row*....

I see that L.L. Bean has turtlenecks that are around $15-with free shipping. Does anyone have experience with these?? I have three turtlenecks(all from thrift...) Gap,Lauren,and Lands End- all three are great. But without a car, I can't keep checking the thrifts,so am looking online.

What do you think? Should I order a couple from L.L.Bean?

TIA,
mp(who always has to have her neck and feet warm!!)
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#146 of 287 Old 10-30-2007, 11:36 AM
 
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Do you have a friend who could take you thrift store shopping, mamapoppins?

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#147 of 287 Old 10-30-2007, 11:38 AM
 
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Quote:
Originally Posted by somasoul View Post
You work the plan and get your grand, darlin'.

Is Eric on board on the plan?
This is a good question. Because doing the budget was a huge pain in my a$$ before dh was on board here.

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#148 of 287 Old 10-30-2007, 07:45 PM
 
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So where are all the other step 1'ers on their emergency fund?

We're still at 137/1000

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#149 of 287 Old 10-31-2007, 12:28 AM
 
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We have 972/1000 of bs1. I have also paid off 1 card and am working on another.

I have also taken the gazelle intesity step of getting a second job. I will cheerfully be working at Target during the holiday season and hopefully keep it up until the debt snowball is done. Then all bets are off. I start in about 1.5 weeks, maybe sooner.
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#150 of 287 Old 10-31-2007, 10:39 AM
 
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187/1000!

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