Dumping Debt and Building Wealth with Dave Ramsey~ FEBRUARY - Page 7 - Mothering Forums

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Old 02-21-2008, 12:33 PM
 
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Originally Posted by mommyjoy7021 View Post
You are exactly right...we spent 19 years getting into this mess, so I guess we won't be getting out in 19 weeks....unfortunately! It's like a diet...when I start, I want to lose it all immediately, even though I didn't gain it overnight.

I was just feeling really good about our progress until I got the electric bill and propane bill and started dealing with the IRS...

Thanks for the encouragement!!! I won't be giving up anytime soon....

Mjoy
Is there any stuff around your house you could sell? I just made $230 selling textbooks online, for example.

DS1 2004 ~ DS2 2005 ~ DD1 2008 ~ DS3 2010 ~ DD2 born at 31 weeks Oct. 2014
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Old 02-21-2008, 12:38 PM
 
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Is there any stuff around your house you could sell? I just made $230 selling textbooks online, for example.
Did you sell the textbooks on Amazon? I'm sure I have books I could sell. Tell me more please...

I am planning to have a HUGE yard sale as soon as the weather gets decent enough - end of March, early April. Hopefully, I can put all of that towards the EF.

Mjoy
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Old 02-21-2008, 12:43 PM
 
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I'm here ladies! And shock of all shocks, I'm loving being on a budget
Never thought in a million years I would say that. We're into about week 6 and things are just so much better between DH and I. We've always been close and had very few issues, but the ones we've had have always been about money. Our church has offered the program for a few years and I always made excuses not to go, no one was going to tell me how to spend my money and I didn't want to give up my Gymboree habit. Well...... if only I had done this years ago, but no looking back, I'm focusing on how good we'll feel in 5 years, heck 2 years at the rate we're going. It feels so good to purchase something guilt free 'cause it's in the budget and DH knows I'm buying it. I'm also enjoying meal planning and squeezing all I can from the food budget to snowball with. I am realizing we can still have the things we've deemed are important to our family, like tuition for Christian school, while getting out of debt and feeling secure for really the first time.
I don't know if this applies to anyone else here, but I think one of the many reasons I resisted for so long was this really misplaced notion that because DH and I are both "educated" we should not need help. How dumb! We both had horrible money examples growing up, for very different reasons. Why did I think for so long we would suddenly know what we were doing and things would work out? I also know I have blamed so much on DH for not making "enough". He went to a private law school we borrowed to the hilt to pay for and he's a public defender. Well, I really believe now no matter how much income we had, the old way would have still led to disaster. Gosh, it's just so darn amazing to feel incontrol and like there is hope at the end of the tunnel. For so long I've just felt like we'd be lucky to get student debt paid for before retirement, now we both know how we're going to make it happen in under 10 years. This is huge for us.
Anyway, I just wanted to tell a little of my situation and say I've really enjoyed hearing from others and look forward to supporting and receiving support as we all babystep our way to a healthy financial future
Pamela
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Old 02-21-2008, 12:54 PM
 
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Socialworkmamma....

I'm at about 7 weeks in and feeling great about being in control of my spending. Plus, I feel like we are on the same page about finances (DH and me). We get along great and have very few issues, but we really didn't talk about $$$. He let me be in charge and didn't ask many questions at all. So...now I feel like we're in this together. We're talking more about it, which is nice. I just wish that we were further in because we're dealing with some initial junk (not planning for propane purchases / IRS). But...I KNOW it will get better. Reading this thread keeps me motivated.

Thanks for posting...

Mjoy
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Old 02-21-2008, 02:00 PM
 
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We just started back in December. We now have our BEF. I have also paid in full two cc's ($3800 and $5650!). We still have a long way to go, and there will not be any more large windfalls to help us along. We have some left to pay a large chunk on another cc. We are going to have to buy a much more expensive riding lawnmower for our new house than I had hoped for, so that is going to slow us down a bit. I do think we should be able to pay cash for the mower though. We should still have all of our cc's paid off by the end of the year. Then we will start working on the van and then student loans. It is going to be a long road, but I know we can do it!

Carrie, mom to Johnathan (7-02), Brodie (2-04), Kate (12-06), Jordan (9-08), (4-09) & Maggie (3-10)
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Old 02-21-2008, 03:48 PM
 
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Originally Posted by Denvergirlie View Post
I sent $3,800 yesterday off to US Bank Credit card, one more month and the last of my credit cards will be gone!
AWESOME!

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Originally Posted by bc1995 View Post
We just started back in December. We now have our BEF. I have also paid in full two cc's ($3800 and $5650!).
GREAT!

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Originally Posted by bc1995 View Post
We still have a long way to go, and there will not be any more large windfalls to help us along......... It is going to be a long road, but I know we can do it!
BUT there is the history that you HAVE paid stuff off. I'm sure it will build momentum!

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Originally Posted by mommyjoy7021 View Post
You are exactly right...we spent 19 years getting into this mess, so I guess we won't be getting out in 19 weeks....unfortunately! It's like a diet...when I start, I want to lose it all immediately, even though I didn't gain it overnight.

I was just feeling really good about our progress until I got the electric bill and propane bill and started dealing with the IRS...
Mjoy, turn the heat down a degree or two, make yourself put on a stocking hat in the house if you have to.

Tackle these things head on. You can do this! Babysteps. Also be glad: winter's on the way out.


Sometimes it feels like the game chutes and ladders:
We have cc debt and student loan debt and a house and a van payment (not a huge one, but we'll need another car soon). We've been tackling these things and have a tax refund coming (dh sometimes does contract
work over the summer and we have extra taken out to account for that). This week we had to take the tax refund to buy me a new computer. I'm about 3 months from finishing my phd that I've been working on for 8 years. I needed the computer, I tried to limp by, but it didn't work. So although i wanted to shuffle that 1100 bucks off to the cc, it just didn't happen.

We did get out gas bill for the cold month of january and it was not terrible (250 bucks), only 50 bucks more than the month before. I actually had budgeted 225 dollars so I'm not complaining.

Now, on to finding a little ladder to get back up there to the top of the board!

Kristin -- mom of Erin (11/5/02) and Leah (9/29/05)
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Old 02-21-2008, 04:18 PM - Thread Starter
 
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Has anyone out there felt like it just wasn't going to happen for them? I know it will, but I'm a little discouraged today. We've been following Dave's plan for about 7 weeks now, and I can definitely tell a difference in our spending. I can also tell because I actually have $$$ to pay my bills because I didn't overspend at Target or Wal-Mart. So, that's exciting! But...I don't have my EF because I'm having a hard time truly getting current on all bills. Just when I think I am...BAM...the electric bill is outrageous and then they fill our propane tank (electric bill last month - $285.00 / propane fill - $500). I don't have the $$$ to pay the propane fill in full, so we'll be making payments this month and next. Argh.....

I know it's making a difference, and I know we're better off now than we were 7 weeks ago. I just want my EF NOW and I want to start snowballing....

Also, we owe the IRS a TON, so I'm trying to work on arrangements for that. That is way stressful!!!!!!

I guess I just need some encouragement to keep going and to know it will get better over time.

Thanks,
Mjoy

P.S. We have started an envelope for propane fills, but that won't really help us too much until next winter. But ...I definitely see this as a HUGE budget-buster that I've never really planned for before and now I will.
Yes, I know how you feel. When I first started, I was convinced that I could have my EF funded in no time. Then when it took like, what, a month longer than it "should" have, I was discouraged. I was also discouraged when I had to use some of it to pay for medication for an ear infection. Then someone on this thread pointed out to me that at least I had the cash available. And she was right, before that medication would have gone right on the credit card.

I am proud to say that it has been over 2 months since we have used a credit card. Maybe even longer, I will have to look. What a great feeling.

Basically I have had to tweak things here and there along the way. Like I had to tweak my budget when I realized that maybe I really did need to have a clothing budget *my feet are freezing as I type this But I have some budgeted money coming out of next pay for some new socks * .

Oh and that is another thing I have learned. Delayed gratification.. the old me would have been like "I need socks, I don't have any pairs without holes or that are threadbare. Hmmmm, I have my $1,000 EF sitting here, why not buy socks now?" But that isn't the point. It was my fault for not budgeting for clothing, and since it was not in my budget, and wont be until this weekend's pay, I am waiting until payday to get my socks. Kind of like how in Dave's Financial Peace book he talks about his expensive briefcase breaking, and that he made himself carry it under his arm for two years to prove that fancy isn't always better? I feel good that I know now that yes, I really can wait until a payday to get something that I have budgeted for. Not everything has to be RightNowThisSecond. I have had to redefine what truly is am emergency. If one of us was truly sick and needed medicine, and there was not enough in the medical envelope to cover it all, then yes, I can use some EF for that. But for socks for my own lack of planning? Well, I can deal with the holes for another few days.

Sorry to ramble :

Basically my point was that yes, I have been discouraged, but you have to keep your eye on the prize. Every month that I am able to live on a budget, I am proud. Every time that I don't panic when my insurance payment *which is due every three months* comes up, because I have been budgeting monthly for it, I am proud. Every time that I can say "You know what, I don't "need" this item," I am proud. I might have $10,000 in CC debt, and no way is it going away right away, but each month that I plug away at it, I am happy about it.

So keep going, you will get there, and we will celebrate with you

Quote:
Originally Posted by Denvergirlie View Post
I sent $3,800 yesterday off to US Bank Credit card, one more month and the last of my credit cards will be gone!

For those of you just starting this process, chin up, it takes time and perserverance, but it will pay off.
Awesome! What a great feeling that must be

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Originally Posted by socialworkmamma View Post
I'm here ladies! And shock of all shocks, I'm loving being on a budget
Never thought in a million years I would say that. We're into about week 6 and things are just so much better between DH and I. We've always been close and had very few issues, but the ones we've had have always been about money. Our church has offered the program for a few years and I always made excuses not to go, no one was going to tell me how to spend my money and I didn't want to give up my Gymboree habit. Well...... if only I had done this years ago, but no looking back, I'm focusing on how good we'll feel in 5 years, heck 2 years at the rate we're going. It feels so good to purchase something guilt free 'cause it's in the budget and DH knows I'm buying it. I'm also enjoying meal planning and squeezing all I can from the food budget to snowball with. I am realizing we can still have the things we've deemed are important to our family, like tuition for Christian school, while getting out of debt and feeling secure for really the first time.
I don't know if this applies to anyone else here, but I think one of the many reasons I resisted for so long was this really misplaced notion that because DH and I are both "educated" we should not need help. How dumb! We both had horrible money examples growing up, for very different reasons. Why did I think for so long we would suddenly know what we were doing and things would work out? I also know I have blamed so much on DH for not making "enough". He went to a private law school we borrowed to the hilt to pay for and he's a public defender. Well, I really believe now no matter how much income we had, the old way would have still led to disaster. Gosh, it's just so darn amazing to feel incontrol and like there is hope at the end of the tunnel. For so long I've just felt like we'd be lucky to get student debt paid for before retirement, now we both know how we're going to make it happen in under 10 years. This is huge for us.
Anyway, I just wanted to tell a little of my situation and say I've really enjoyed hearing from others and look forward to supporting and receiving support as we all babystep our way to a healthy financial future
Pamela
Thank you for sharing your story I will admit that I used to feel that way about my DH. I would think "Oh if only he made more money." But he loves his job, he is good at it, and right now there just isn't anything else out there for him. So until he finds something he likes better, with more pay, then I am just going to have to be a good steward of our money and budget it better. It sounds like you have a good plan going for you

Quote:
Originally Posted by bc1995 View Post
We just started back in December. We now have our BEF. I have also paid in full two cc's ($3800 and $5650!). We still have a long way to go, and there will not be any more large windfalls to help us along. We have some left to pay a large chunk on another cc. We are going to have to buy a much more expensive riding lawnmower for our new house than I had hoped for, so that is going to slow us down a bit. I do think we should be able to pay cash for the mower though. We should still have all of our cc's paid off by the end of the year. Then we will start working on the van and then student loans. It is going to be a long road, but I know we can do it!
You are doing great so far!! You are paying cash for something most people wouldn't think twice about financing or putting on a credit card, and that is something to be really proud of!

Quote:
Originally Posted by kerc View Post

Sometimes it feels like the game chutes and ladders:
We have cc debt and student loan debt and a house and a van payment (not a huge one, but we'll need another car soon). We've been tackling these things and have a tax refund coming (dh sometimes does contract
work over the summer and we have extra taken out to account for that). This week we had to take the tax refund to buy me a new computer. I'm about 3 months from finishing my phd that I've been working on for 8 years. I needed the computer, I tried to limp by, but it didn't work. So although i wanted to shuffle that 1100 bucks off to the cc, it just didn't happen.

We did get out gas bill for the cold month of january and it was not terrible (250 bucks), only 50 bucks more than the month before. I actually had budgeted 225 dollars so I'm not complaining.

Now, on to finding a little ladder to get back up there to the top of the board!
You are doing well, sometimes we have to buy things that we need, and it sounds like the computer was something you needed

We have gas heat where I live, and I made it a goal this year to try to keep the heat on 55 all the time. We are in the unique situation where I work nights, so I am home all day, and DH works traditional days and is home at night. So we just sort of agreed on 55 all the time. My gas bill is only $49 a month now, and let me tell you, it used to be so much higher! We were lucky that our landlord bought new windows for the house and that has been a blessing, truly, it has saved so much. We wear layers, I am always in at least two layers of shirts and two layers of socks. And DH uses a blanket for when he sits at the computer at night. It is working well for us. Sometimse it does get a bit cold, like yesterday when I would have sworn that I was freezing, but I just layered some more and used a blanket.

I am not suggesting this for people who have kids. I realize that with children in the house it is probably not optional to keep your heat on that low.

I hope everyone is having a great day!

ribbonpurple.gif  "And the day came when the risk to remain tight in a bud was more than the risk it took to blossom." Anais Nin
   
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Old 02-21-2008, 05:26 PM
 
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Our state portion of our tax return came in today, $1040. I'll be applying that to debt paying tomorrow after talking to dh about it tonight (he's away for work). I know we "should" pay the smallest things, but it would be $614 to pay off my van and then we would actually own it. And when the federal return comes in, we'll have enough to sell the extra truck.

Here's where we're at now (before big tax return payoffs):

$466 Capital One
$614 Van loan
$1091 Best Buy
$1770 Midwife
$2184 HSBC Retail Services
$4249.63 Needed to get out of Truck loan

:

Mommyjoy- We started back in October. Now we're current on bills, have our BEF and are halfway into paying off our non-mortgage debt. Just keep at it!

Midwife (CPM, LDM) and homeschooling mama to:
14yo ds   11yo dd  9yo ds and 7yo ds and 2yo ds  
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Old 02-21-2008, 08:07 PM
 
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Thank you all so much for the support. It is really, really helping. This afternoon I started looking at all the positives. I was able to pay 2 bills in January that I didn't think I would be able to pay until the end of February (book rental - $175 / state tax - almost $600). I would have NEVER been able to do that if we weren't following DR's plans. We're more caught up now on bills than we have been in awhile. We'll buckle down and get the electric and propane paid soon. It will happen And...next winter we'll have envelopes for both so they aren't budget-busters. We'll be prepared!!!!

I think what really shook me yesterday was dealing with the IRS. They just freak me out a bit. We make monthly payments and communicate with them...they just want more a month than we can afford at this time. I know it will work out. It just makes my stomach sick.......

Well, thanks again for all the support. If anyone else out there has a success story or any words of encouragement or advice, pass them my way! Thanks!!

Mjoy
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Old 02-21-2008, 08:39 PM
 
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To sell textbooks, and everyone should try this with their books sitting around the house, google "sell textbooks" and then input the ISBN numbers and they will tell you how much you would get paid for them. Generally the company will pay for shipping, but you have to pay for insurance. Definitely get insurance on the shipping. I have had the best luck, and prices, at Cash4books and textbookwheel, but I always compare for the best prices.

DS1 2004 ~ DS2 2005 ~ DD1 2008 ~ DS3 2010 ~ DD2 born at 31 weeks Oct. 2014
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Old 02-22-2008, 03:41 AM
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mjoy! Keep at it. Just readin gthe encouraging words helps me too.

We started in November. The first of January dd, her dh and their dg and cat moved home, "for a few days". Looks like April 1st now.

dd19 has been sent by ambulance TWICE in the last 10 days, from school to the hospital. $50 each time. THe bill just came for the first visit the other day. Until I came back to the thread, I was freaking out about taking the money from the EF. I've had to use teh EF to keep us in food. You simply can't feed 6 for the price of 4. So, I've been feeling like I was doing the wrong thing by dipping in for enough grocery money.

I feel better. I need to wait to snowball until I build the EF back up. BUT, I have the money to take care of these true emergencies, without touching a cc.



Tahnks for reminding me!






Jaime, I want to elect you head cheerleader! Every post is positive and uplifting. I so appreciate you 'hosting' the thread this month! You always have something nice to say to everyone. Thank you.
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Old 02-22-2008, 12:14 PM
 
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We are house hunting right now, and it looks like we will have to go over budget. If we don't move soon, the prices will drop so much we will be stuck in our condo for a few years. It is a nice condo, but there are NO kids here and we have to drive a while to the nearest playground/fun area. Ari is already 5 and is now old enough to walk to a friend's house if I could see the house (we do it at Grandma's). I hope we can find something!

We will probably spend 3.5x our income, which is pretty good for our area, but it will make it longer until I can stay home
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Old 02-22-2008, 12:18 PM - Thread Starter
 
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Red- Sorry to hear that your DD is sick

And thanks I appreciate your kind words

Well I have decided to cut up my two debit cards. I already cut up the credit cards a long time ago, but I have decided that having a debit card makes it too easy to slip up and buy something on impulse. Obviously if I have to actually go to the bank and write a check for cash, it isn't as likely to be spent on something silly.

I mainly decided this because I have to buy those socks and I am sort of scared to go in to Big Box Store with a debit card. As it is, I am taking DH with me for support

On a good note- well, not exacly good. Well, good financially, bad other wise : My co-manager at work was ill with the stomach virus yesterday So they asked me to come in to cover for her, so of course I did. We usually trade a day if something like this happens, so that neither of us loses money, but she hasn't contacted me yet, so she may still be sick. So for right now, it could be an extra 15.5 hours of straight overtime on my next paycheck. So that is the good part. She is older and is pretty financially set, so she doesn't "need" money in the way that I do, so maybe she will let me keep the extra day. I don't mind even if we do switch a day and I just break even. Hopefully one day she will do the same for me if I am sick. Although personally, I would rather be sick at work than at home I am blessed to have a job where I help people and have a bedroom at work so that if I don't feel well I can rest. Plus the whole sleeping at night if it is slow, thing I have to thank God for a job like that

I did miss my DH though, yesterday was my only actual day off. I will see him tomorrow night, if my coworker is better by then, if not, it is going to be a long weekend without a hug from hubby man.

In other news, when I got to work yesterday I totally forgot that Thursday is payday, since I never work on the Thursday of pay week I was like "What is this in my mailbox?" Then I was like, oh yay, it is payday! So I didn't have any of my budget sheets, so I called DH and he read each item off to me over the phone so that I could start calculating my snowball in my head

I didn't sleep well at work last night, so I might grab a nap before going back tonight. I hope everyone is doing well and has a great day

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Old 02-22-2008, 12:21 PM - Thread Starter
 
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Our state portion of our tax return came in today, $1040. I'll be applying that to debt paying tomorrow after talking to dh about it tonight (he's away for work). I know we "should" pay the smallest things, but it would be $614 to pay off my van and then we would actually own it. And when the federal return comes in, we'll have enough to sell the extra truck.

Here's where we're at now (before big tax return payoffs):

$466 Capital One
$614 Van loan
$1091 Best Buy
$1770 Midwife
$2184 HSBC Retail Services
$4249.63 Needed to get out of Truck loan

:

Mommyjoy- We started back in October. Now we're current on bills, have our BEF and are halfway into paying off our non-mortgage debt. Just keep at it!
I can understand why you would want to pay the van off. Good luck! Our state taxes came to a whopping $2 this year

Quote:
Originally Posted by arismomkoofie View Post
We are house hunting right now, and it looks like we will have to go over budget. If we don't move soon, the prices will drop so much we will be stuck in our condo for a few years. It is a nice condo, but there are NO kids here and we have to drive a while to the nearest playground/fun area. Ari is already 5 and is now old enough to walk to a friend's house if I could see the house (we do it at Grandma's). I hope we can find something!

We will probably spend 3.5x our income, which is pretty good for our area, but it will make it longer until I can stay home

I hope you can find something you like Sorry that it will delay you in staying home, though, I can understand why you would want to

ribbonpurple.gif  "And the day came when the risk to remain tight in a bud was more than the risk it took to blossom." Anais Nin
   
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Old 02-22-2008, 01:23 PM
 
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[QUOTE=Red;10603424]mjoy! Keep at it. Just readin gthe encouraging words helps me too.

We started in November. The first of January dd, her dh and their dg and cat moved home, "for a few days". Looks like April 1st now.

dd19 has been sent by ambulance TWICE in the last 10 days, from school to the hospital. $50 each time. THe bill just came for the first visit the other day. Until I came back to the thread, I was freaking out about taking the money from the EF. I've had to use teh EF to keep us in food. You simply can't feed 6 for the price of 4. So, I've been feeling like I was doing the wrong thing by dipping in for enough grocery money.

I feel better. I need to wait to snowball until I build the EF back up. BUT, I have the money to take care of these true emergencies, without touching a cc.



Thank you! It's nice that you had the EF to dip into so you didn't have to use credit. I'm so ready to have the EF!!!! I'm thinking that by May I should have mine fully funded. That will be a good feeling. We've had $1,000 before, but never, never, never, ever with the mind-set of saving it. We were always like, "Hmmmm....what should we buy first?" It was always gone, gone, gone....FAST!!!!!!

I just love reading this thread...keeps me motivated!!! Keep up the good work, everyone!

Mjoy
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Old 02-22-2008, 01:25 PM
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For those feeling discouraged, we managed to pay off $6000 last year. When I get discouraged that we have a bunch still to go, I remind myself that a year ago I could have kept adding to the debt but chose not and now look at us. By the end of this year we will have no more cc debt. If we can do it, anyone can. My dh was the poster boy for he wanted it, he bought it. We're just ticking along right now, putting any extras on the cc debt and paying cash for the few things I need for the new baby. We've lucked into some baby girl clothes which is awesome and don't need anything much at all now.
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Old 02-22-2008, 01:39 PM
 
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mtm,

$6000 is awesome! That's a great amount to have paid off.

Midwife (CPM, LDM) and homeschooling mama to:
14yo ds   11yo dd  9yo ds and 7yo ds and 2yo ds  
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Old 02-22-2008, 02:05 PM
 
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mtm - great job!!!! I think we have about $12,000 in consumer debt/credit cards/dumb loan for 4 wheeler we no longer have....I would LOVE to be able to pay off $6,000 this year. You also reminded me...I'm not creating any new debt now, so that's awesome. Normally I would be using my credit cards like crazy. I haven't used them in about 7 weeks now. I got a letter from one of my credit cards and they have upped my credit line. I think they realized I wasn't using it anymore and wanted to give me an incentive to start spending. I just kind of chuckled because in December if this happened I would have been like, "Cool...shopping trip, anyone???? I have more to spend because my credit line was upped!!!" Not now....Thanks, DR and thanks to all of you!!!!

Mjoy
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Old 02-22-2008, 02:55 PM
 
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Hey everyone, it looks like we aren't going to get our EF back up to $1000 this month... we had a GAS LEAK at our house last night!!
I had to take the kids and go to neighbor's house while calling the energy company who came out and tagged me and shut off the natural gas to our house. So that meant the furnace was shut off for 5 hours last night while we got everything squared away. :
They came out (after hours charges applied, of course) and we did get the line repaired/rerouted and turned back on.
So it cost $200 for that and $22 for the dinner I had to take the kids out for.
But the upside was that my DP had just deposited that $200 back into our EF earlier in the day. So at least we are no further behind.
I told him Murphy kicked us in the teeth because he is talking about getting a new guitar; which would be a business expense, but not money I feel we should spend nontheless.
Either way, the heating and cooling company wins!
I am glad we are all OK.
I told DP the exciting things always happen while he is gone at work!!
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Old 02-22-2008, 04:24 PM
 
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we finally got our money market account opened, and the full $1000 in it!

yay!

now to work on dh's car loan. if we continue paying the way we are, we'll have it paid off in about 18 months, but we'll be tossing our tax rebate at it, along with any extra money we can scrounge out. and when i pick up a part-time job, all of that money will be going towards it, too.

christina

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Old 02-22-2008, 06:34 PM
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Drum roll please......:




My phone balance is now $0! Just as I was feeling like the progress I desired wasn't happening, I checked my bank balance and realized I had enough to pay off that one bill. Teh next two weeks, if nothing messes with my plans, I'll be able to start paying my mortgage ON the first, instead of just before (or after ) a late charge hits. Actually, in March I'll pay on the 7th, April will be the first.

So, I haven't used a cc since October and I AM catching up! I feel so much better.


I'm having trouble sticking to my budget. I think I have to make the food budget a little looser. Dh will go back to work in April, and the money will be better than now. So, this summer I ought to be able to really knock some bills out. Whew!
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Old 02-22-2008, 06:44 PM
 
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Sounds like everyone is making awesome progress! Good job

I haven't posted in awhile because things have ben sloooooooow around here. I work on contract and have had a hard time booking work. I have a long list of people to call to book interviews with but haven't been able to get ahold of them. It's discouraging but I'm trying to be positive.

I got our taxes done today and we are getting $3,336 back! I am beyond THRILLED! This means that we will have our BEF fully funded and will be able to pay off one of our credit cards.

Before getting our tax refund we owe:
$2244 MC 1
$5346 MC 2
$2633.44 Brick Card
$6234 Consolidation loan
$40,000 Van loan (this is embarrasingly large, we totally got sucked in by the 0% financing when my 6 year old Subaru unexpectedly died on us. I'm not selling it now though because we would lose way too much money)

So we still have a very long way to go, but DH has been working lots of OT lately to try to speed things along, and I should have lots of work lined up for next month, so hopefully we can build some momentum. Our goal is to pay off the credit debt by the end of 2007/early 2008, and then we can pay almost $2K per month onto our van loan.

SAM, momma to 3 beautiful babies: Tristan (5), Gabriel (4) , & Brighton (2)

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Old 02-23-2008, 02:25 AM
 
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Today was an awesome day! I was able to pay off 4 credit cards with our tax refund. 5 more to go!!

SAHM to the munchkins (14.5, 11.5, 9.5, 3, and almost 2)
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Old 02-23-2008, 06:17 PM
 
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Originally Posted by my2girlz View Post
Today was an awesome day! I was able to pay off 4 credit cards with our tax refund. 5 more to go!!

How cool is that! Can't wait to see what we will get. First though I need to get it to the accountant.

This is going to be a great ending to this month. DH will be getting a 3rd paycheck this month and that will go totally to the extras. That will be $1500I will be getting a doula paycheck because I went in on a birth last week. I have not been in for three months. That will be $240. And I get one more paycheck from my job at the grocery store. That will be $200. So that will $1940 about to go straight to our extras. Our extra list is currently rotating with Bar Mitzvah, vacation, and car repair. Each gets $100 in order and keeps rotating. We also put a different extra in after the main three. Like clothing, gifts, eating out, school fund, etx...

Man when that tax refund comes things will come off that list at blazing speed and the Bar Mitzva will be fully funded for ds#1! yea.

I also found out that we can deduct %5 of our contribution to our kids 529 accounts.

Be well,

Shane - Homeschooling mom to three boys (12, 1-, 8) and living the open life with my husband.

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Old 02-23-2008, 10:43 PM
 
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Hi. I'm still catching up on this thread (I just finished page 3), but I want to go ahead and join.
A friend rec'd TMMO, and I just finished reading last night. Another friend rec'd YouNeedABudget software which is a zero-based budgeting system that works a month behind (so you spend January's income in February). I think they are going to work well together.

Here's where we stand:
BS0 - not a problem
BS1 - done
bs2 - done (I just paid off my car and the credit card - whoot! That felt good. I paid off the car a year early.)
BS3 - I've got $2000/$15,000 I want to move that money into a different account though. I was thinking of a Money market (with checking) maybe with ING.
BS4 - We're already at about 9% with DH's 401K and our IRA's
BS5 - We're funding this at about $200 a month
BS6 - I was working on this, but I'm going to put that on hold while I finish BS3. I did set up bimonthly payments which will end up being 13 full payments a year (26 half payments), rather than 12.
BS 7 - Can't wait!

We are lucky that DH makes a decent living, but we're horrible with budgeting. As I said to him last night, I've been making budgets for years, but we never follow them. The year after we got married we did the envelope system and we paid off our $15000 wedding/honeymoon in a year. But since then...
The fall before last, the company DH works for went public, and we got a big dividend, which we mostly let sit in savings until I could figure out what to do with it. We bought some new furniture, and then I did eventually pay off the car and the credit card, but I could have done it a lot sooner. I just didn't know what to prioritize. I'm glad I finally did that.
So now that I've found Dave, I feel like I have some structure. I know what to do, but struggle with prioritizing. This will definitely help.

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Old 02-23-2008, 11:15 PM
 
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Originally Posted by Mama Rana View Post
We are lucky that DH makes a decent living, but we're horrible with budgeting. As I said to him last night, I've been making budgets for years, but we never follow them....The fall before last, the company DH works for went public, and we got a big dividend...I did eventually pay off the car and the credit card, but I could have done it a lot sooner. I just didn't know what to prioritize. I'm glad I finally did that. So now that I've found Dave, I feel like I have some structure.
This was us too, very similar story, good income but no idea of how to prioritize. I carried credit card balances thinking "ah, we can pay that off any time we want". I didn't look at the big picture, down the road, etc. I'm really glad I "found Dave" because he made me totally change the way I look at money and debt. It's made a big difference for us!

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Old 02-23-2008, 11:48 PM
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It looks like most of us will end this month on an up note!

I find it funny that even though we all know paying too much tax is a bad move, most of us do it anyway. I'm willing to do it, because it usually just covers our property tax, and state tax. (we often owe the state a few hundred) This year, I got a small job so I had more taken out, in case my earnings through things off.

I guess I was too generous, because we're getting much more back than I thought. I'm delighted, because it's like found money. ANd now I know how to use found money.


shanetedissac, I like your rotating envelope system for hte extras. I might try it.

Mama Rana, welcome!


lafemmedesfemmes Yippee! Fun, ain't it?

TattooedMama, HOw scary! I'm so glad everyone was okay. I hope you enjoyed your emergency meal out. I always like those meals best, cause the are necessary and there's no guilt.
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Old 02-24-2008, 02:35 AM - Thread Starter
 
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Quote:
Originally Posted by mtm View Post
For those feeling discouraged, we managed to pay off $6000 last year. When I get discouraged that we have a bunch still to go, I remind myself that a year ago I could have kept adding to the debt but chose not and now look at us. By the end of this year we will have no more cc debt. If we can do it, anyone can. My dh was the poster boy for he wanted it, he bought it. We're just ticking along right now, putting any extras on the cc debt and paying cash for the few things I need for the new baby. We've lucked into some baby girl clothes which is awesome and don't need anything much at all now.
That is awesome! Thanks for sharing!

Quote:
Originally Posted by TattooedMama View Post
Hey everyone, it looks like we aren't going to get our EF back up to $1000 this month... we had a GAS LEAK at our house last night!!
I had to take the kids and go to neighbor's house while calling the energy company who came out and tagged me and shut off the natural gas to our house. So that meant the furnace was shut off for 5 hours last night while we got everything squared away. :
They came out (after hours charges applied, of course) and we did get the line repaired/rerouted and turned back on.
So it cost $200 for that and $22 for the dinner I had to take the kids out for.
But the upside was that my DP had just deposited that $200 back into our EF earlier in the day. So at least we are no further behind.
I told him Murphy kicked us in the teeth because he is talking about getting a new guitar; which would be a business expense, but not money I feel we should spend nontheless.
Either way, the heating and cooling company wins!
I am glad we are all OK.
I told DP the exciting things always happen while he is gone at work!!
How scary! I am so glad you and the kids are okay! And it is great that you aren't any further behind!

Quote:
Originally Posted by lafemmedesfemmes View Post


we finally got our money market account opened, and the full $1000 in it!

yay!

now to work on dh's car loan. if we continue paying the way we are, we'll have it paid off in about 18 months, but we'll be tossing our tax rebate at it, along with any extra money we can scrounge out. and when i pick up a part-time job, all of that money will be going towards it, too.

christina
Yay!! Great!!

Quote:
Originally Posted by Red View Post
Drum roll please......:




My phone balance is now $0! Just as I was feeling like the progress I desired wasn't happening, I checked my bank balance and realized I had enough to pay off that one bill. Teh next two weeks, if nothing messes with my plans, I'll be able to start paying my mortgage ON the first, instead of just before (or after ) a late charge hits. Actually, in March I'll pay on the 7th, April will be the first.
That is wonderful!

Quote:
Originally Posted by organic-momma View Post
I got our taxes done today and we are getting $3,336 back! I am beyond THRILLED! This means that we will have our BEF fully funded and will be able to pay off one of our credit cards.

Before getting our tax refund we owe:
$2244 MC 1
$5346 MC 2
$2633.44 Brick Card
$6234 Consolidation loan
$40,000 Van loan (this is embarrasingly large, we totally got sucked in by the 0% financing when my 6 year old Subaru unexpectedly died on us. I'm not selling it now though because we would lose way too much money)

So we still have a very long way to go, but DH has been working lots of OT lately to try to speed things along, and I should have lots of work lined up for next month, so hopefully we can build some momentum. Our goal is to pay off the credit debt by the end of 2007/early 2008, and then we can pay almost $2K per month onto our van loan.
That is a great amount to be able to put in to the van loan! Keep going, you are doing great!!

Quote:
Originally Posted by my2girlz View Post
Today was an awesome day! I was able to pay off 4 credit cards with our tax refund. 5 more to go!!
Awesome!!!

Quote:
Originally Posted by shanetedissac View Post
This is going to be a great ending to this month. DH will be getting a 3rd paycheck this month and that will go totally to the extras. That will be $1500I will be getting a doula paycheck because I went in on a birth last week. I have not been in for three months. That will be $240. And I get one more paycheck from my job at the grocery store. That will be $200. So that will $1940 about to go straight to our extras. Our extra list is currently rotating with Bar Mitzvah, vacation, and car repair. Each gets $100 in order and keeps rotating. We also put a different extra in after the main three. Like clothing, gifts, eating out, school fund, etx...

Man when that tax refund comes things will come off that list at blazing speed and the Bar Mitzva will be fully funded for ds#1! yea.

I also found out that we can deduct %5 of our contribution to our kids 529 accounts.

Be well,
That is a great month!


Quote:
Originally Posted by Mama Rana View Post
Hi. I'm still catching up on this thread (I just finished page 3), but I want to go ahead and join.
A friend rec'd TMMO, and I just finished reading last night. Another friend rec'd YouNeedABudget software which is a zero-based budgeting system that works a month behind (so you spend January's income in February). I think they are going to work well together.

Here's where we stand:
BS0 - not a problem
BS1 - done
bs2 - done (I just paid off my car and the credit card - whoot! That felt good. I paid off the car a year early.)
BS3 - I've got $2000/$15,000 I want to move that money into a different account though. I was thinking of a Money market (with checking) maybe with ING.
BS4 - We're already at about 9% with DH's 401K and our IRA's
BS5 - We're funding this at about $200 a month
BS6 - I was working on this, but I'm going to put that on hold while I finish BS3. I did set up bimonthly payments which will end up being 13 full payments a year (26 half payments), rather than 12.
BS 7 - Can't wait!

We are lucky that DH makes a decent living, but we're horrible with budgeting. As I said to him last night, I've been making budgets for years, but we never follow them. The year after we got married we did the envelope system and we paid off our $15000 wedding/honeymoon in a year. But since then...
The fall before last, the company DH works for went public, and we got a big dividend, which we mostly let sit in savings until I could figure out what to do with it. We bought some new furniture, and then I did eventually pay off the car and the credit card, but I could have done it a lot sooner. I just didn't know what to prioritize. I'm glad I finally did that.
So now that I've found Dave, I feel like I have some structure. I know what to do, but struggle with prioritizing. This will definitely help.


I will add you to our list. Welcome!!

*~*~*~*~*~*~*~*~*~*~*

Okay, in Jaime news..

I bought socks. $19 for socks?? What has the world come to?? I mean, I got 12 pairs, because they came in sets of 6 and with my work schedule, sometimes I do go that long without doing laundry. But still. Ugh. What a mess. :

DH is allergic to his shoes. Is their a smiley that is confused on here? He seriously is though. He needed steel toed shoes for his job, and every time he wears them his feet break out in a rash. I washed them on hot water, added some TTO, and some white vinager, and still they break his feet out. Once he goes back to his old, falling apart shoes, he is fine. Does anyone have any other suggestions before I have to buy him new shoes? I hate to take out of my snowball for that : But his feet are just so bad when he wears those horrible shoes! And I can't return them because he had worn them already and now I washed them.

So those are the bad parts On to the good news. I am going to take every last penny leftover from this week's payday and snowball it on over to DH's credit card. I just made a payment about a week ago, but I set it up so that I can pay online anytime, I figure it was better to put every dime over on to it right away so that nothing tempts me
We ran our errands together tonight, so that nothing tempted us to sway from our budget

Oh and my coworker did not ask me to switch a day with her, so as of right now, I am looking at 15.5 extra hours of overtime on next paycheck!! I am hoping that she wont want to work an extra day next week. We could really use the money on the snowball.

I hope everyone is having a great weekend!

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Old 02-24-2008, 02:59 PM
 
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We're in a Ramsey stall ... waiting to do some infertility treatments that will cost mucho dinero. So right now we're just trying to keep treading water and make sure our heads stay above it.

We are hanging out between Baby Steps 3 & 4.

Plan A: AFTER the treatment, IF we end up having a baby ( we're going to stay put in this house (cheap) so I can SAHM and we can live on DP's income.

Plan B: NO baby (, then I'll still be working and we'll double up our mortgage payments, skip step 5 and plow through step 6 like a gazelle.

At the moment, we're just focussing on not getting back into debt with the fertility treatment. Some of it is covered, and as for the rest, we're going to aim to pay cash.

dust.gifFour-eyed tattooed fairy godmother queer, mama to my lucky star (5) and little bird (2.5). Resident storyteller at www.thestoryforest.com. Enchanting audiostories for curious kids. Come play in the forest!
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Old 02-24-2008, 03:02 PM - Thread Starter
 
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We're in a Ramsey stall ... waiting to do some infertility treatments that will cost mucho dinero. So right now we're just trying to keep treading water and make sure our heads stay above it.

We are hanging out between Baby Steps 3 & 4.

Plan A: AFTER the treatment, IF we end up having a baby ( we're going to stay put in this house (cheap) so I can SAHM and we can live on DP's income.

Plan B: NO baby (, then I'll still be working and we'll double up our mortgage payments, skip step 5 and plow through step 6 like a gazelle.

At the moment, we're just focussing on not getting back into debt with the fertility treatment. Some of it is covered, and as for the rest, we're going to aim to pay cash.
Good luck with the treatment! I hope it ends in a baby for you

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