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Debt Reduction & Money Management Discussions on debt reduction, credit cards, consolidation, debt free living, and money. Snowballing debt, paying yourself first, and money management.

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Old 08-24-2007, 11:53 AM   #1 (permalink)
Cricketlegs is ready for 2009, the year debt hits the bricks!
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Default Ohhhh a delimma!

I just found out I have an additional $425 coming any time time now.

$200 my ex owes for us putting in a new radio in dds car.
$175 my ex owes for tires and wheel repairs on dd cars(the car was susposed to be his gig but I get the screw over everytime...grrrr I am glad to at least recoup half)
$50 payment on $200 my dh's nephew owes him for parts on his truck(dh is a parts manager at the local chevy dealership) He made his first payment so I am just counting that right now.

So do I split it 3 ways or $141 on credit card, savings, camper fund

2 ways--$212 on credit card and savings
1 way--and knock a big chunck off the credit card meaning that September would have a $875 payment on a debt of $2900.

If I did shoot it all on the card that would NOT change me making the usual $400 on the card, $300 in savings or $150 in the camper fund.

Actually dhs commisiion should be $500 MORE this month than what is budgeted.

What to dooooooo......!
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Mama of Emily and Sarah

Car Loan~~it is in the snowball 5/2010
Dds student loans 1 & 2~~10/2009 start date
Camper ~~4/2013


FIRST GOAL~ $1000.00-EF blah starting back up Aug.
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Old 08-24-2007, 11:59 AM   #2 (permalink)
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I'd say put to a credit card of some sort. Where ever you paid for your dd's repairs and parts through. If you paid cash for those I'd say put to card w highest interest rate!

Congrats on the money!!! Finally!
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Old 08-24-2007, 12:05 PM   #3 (permalink)
Cricketlegs is ready for 2009, the year debt hits the bricks!
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Oh we paid cash for it all.

We also only have 2 credit cards.

The Dell card had no balance so that $2900 card is our only creditcard debt with a payoff plan in 8 months. A full $425 plus the usual $400 would mean $825 on that bablance which would make a nice heafty dent.

I just wanted to see if people thought it was okay NOT to add any of this to my EF BUT my EF will get $300 this month.

The camper fund is just that. I aim for $150 but it is NOT a high priority gig in the scheme of things. Slow and steady will win that race...eventually lol!
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Car Loan~~it is in the snowball 5/2010
Dds student loans 1 & 2~~10/2009 start date
Camper ~~4/2013


FIRST GOAL~ $1000.00-EF blah starting back up Aug.
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Old 08-24-2007, 12:06 PM   #4 (permalink)
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Quote:
Originally Posted by LexTysMommy View Post
I'd say put to a credit card of some sort. Where ever you paid for your dd's repairs and parts through. If you paid cash for those I'd say put to card w highest interest rate!

Congrats on the money!!! Finally!

I agree, put it towards the card. You can always save for the camper later, when you're not paying interest on a credit card.
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Old 08-24-2007, 12:09 PM   #5 (permalink)
Cricketlegs is ready for 2009, the year debt hits the bricks!
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Just so you know, My EF and my Camper fund are 2 different groups of savings.

One is in the bank and the other is in cash. LOL!
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The math never lies, budget in INK!

Proud wife Of Dean
Mama of Emily and Sarah

Car Loan~~it is in the snowball 5/2010
Dds student loans 1 & 2~~10/2009 start date
Camper ~~4/2013


FIRST GOAL~ $1000.00-EF blah starting back up Aug.
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Old 08-24-2007, 01:00 PM   #6 (permalink)
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oh i wish i had your problems i agree the card with that huge chunk off of it you will have it paid off in no time
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Old 08-24-2007, 01:33 PM   #7 (permalink)
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There are bunches of different plans and "right" ways to do things. My favorite theory is to put any extra found money toward the debt you are currently snowballing. Anything that pays it off faster allows you to move onto the next goal sooner!
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Grocery challenge Two adults, a 7-year-old, six cats.
Food, hba, cleaning & paper, cat things, office supplies, etc.

Apr ($100 X 4 Sat): $400. Act: $418.87.
May ($90 X 4 Sat): $360. Act: $358.07.
Jun ($85 X 5 Sat): $425. Act: $422.96.
Jul original ($85 X 4 Sat): $340. Jul revised ($85 X 3 Sat): $255. Act: $290.35.
Aug: $340. Act: $334.54.
Sept: $315. Act: $316.54.
Oct: $315. Act: $316.48.
Nov: $315. So far: $111.82

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Old 08-24-2007, 01:54 PM   #8 (permalink)
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PUT IT ALL ON THE CREDIT CARDS! Speaking as someone with credit card issues.
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Old 08-24-2007, 04:20 PM   #9 (permalink)
Cricketlegs is ready for 2009, the year debt hits the bricks!
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My snowballing plan has us paying creditcard off in 8 months

car in 20 months

house along with these debts will be gone in 6 years.

Snowballing--it works!
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Car Loan~~it is in the snowball 5/2010
Dds student loans 1 & 2~~10/2009 start date
Camper ~~4/2013


FIRST GOAL~ $1000.00-EF blah starting back up Aug.
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Old 08-24-2007, 05:04 PM   #10 (permalink)
mommy4ever is thinking finances
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Add it to the snowball, and help get that cc paid off sooner!!!
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Old 08-24-2007, 11:12 PM   #11 (permalink)
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Use it to knock downt the c/c debt, especially since you have $1k in the e-fund.
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Old 08-25-2007, 02:10 AM   #12 (permalink)
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I vote for putting it towards the CC.
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