12/16/16 Debt reduction -savings thread - Page 4
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  1. #46
    Registered User Raiquee's Avatar
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    I'm eager to start this. We will have a slow start due to paying cash for hubby's tuition again, but I think feb-march we should see some momentum. I am thinking 2016 will be a good year got us. Didn't I say that about 2015 as well? oh man.

    We will see!!
    Step 2
    Will update this when I have time

    Food grown for my family so far: 37lbs 1 oz!

  2. #47
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    hey all. Made it through Christmas debt free and all the hosp. is gone again but Dh needs to schedule his surgery and this new contract still hasnt given us dime one
    and of course we have been spending quite a bit on gas. At some point somethings gotta give so i thought I would stick around a bit.

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    Quote Originally Posted by Ayanka View Post
    Batsheva, if it is a yearly occuring event, would it be possible to ask for gift cards next year, at least from the people closest to you?
    We have tried every way possible to let them know we do not need or want so many things. Actually, the amount we got this year was about half of what it used to be so things are improving. They are not the gift card type, they prefer buying things for gifts so unfortunately that's not an option either.

    At this point I'm not sure what else we can do about it beside smile and say thank you. They are just trying to be nice.

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  5. #49
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    Quote Originally Posted by Batsheva View Post
    We have tried every way possible to let them know we do not need or want so many things. Actually, the amount we got this year was about half of what it used to be so things are improving. They are not the gift card type, they prefer buying things for gifts so unfortunately that's not an option either.

    At this point I'm not sure what else we can do about it beside smile and say thank you. They are just trying to be nice.
    That is something about American Christmas I will never get. You buy a ton of presents, even if the recipient doesn't really want them, or has tried hinting they would prefer another kind of gift. Really nobody wins in this situation, do they?

    The one thing I could imagine if they are set on giving a gift, any chance on persuading them to give consumables? Something like food or even towels if necessary, but that will eventually wear out (though depending on your family you might end up with a mountain of towels)?

  6. #50
    TDN
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    Quote Originally Posted by Batsheva View Post
    We have tried every way possible to let them know we do not need or want so many things. Actually, the amount we got this year was about half of what it used to be so things are improving. They are not the gift card type, they prefer buying things for gifts so unfortunately that's not an option either.

    At this point I'm not sure what else we can do about it beside smile and say thank you. They are just trying to be nice.
    What worked for us as we have gotten a little older is talking to both sides of the family and suggesting no gifts exchanged at all except for the kids. I was surprised how everyone went for it! Was kind of strange the first year but now it is the new normal. A few years we did the white elephant game with a 10 dollar gift......maybe they would go for something like that?

  7. #51
    Registered User AllyG47's Avatar
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    I am so glad that the holidays are over. Now I can get back to my normal routine and start working on my 12/16/16 goals. Before I can really start any of my savings goals, I need to work on my goal of increasing my income to $2,500 a month. I'm spending this weekend updating my websites. I realized that some of my websites have products that are outdated and one of my websites talks about the top rated products from 2014. Yikes! Updating the sites should help bring in fresh traffic and the people who do land on my websites won't leave because of outdated articles.

    After I get my websites updated, I'm going to make a list of the articles I want published this year. I have a credit limit of $1,500 on PayPal Credit and I'm planning on using iWriter to outsource the article writing. They don't produce the best articles ever but they are good enough for what I need them for. They charge $3 for a 500 word article so I should be able to get around 500 articles written for $1,500. I own 20 websites and I'd like to have at least 50 new articles per website in 2016. I going to start by publishing the articles on 10 of my websites - 50 articles per site. PayPal Credit is 6 months no payment, no interest so I'm going to do everything I can to get it paid off within 6 months. The 500 articles should bring in at least $1,000 a month in income after 6-8 months. After I get my PayPal Credit paid off, I can either use it to outsource the other 500 articles I need or just use cash if my websites are bringing in enough money by then.

    I would like to get all 500 articles outsourced, written and published before I leave on vacation at the end of February. I would like to start another website when I get back from vacation and use a different form of monetization (sp?). My 20 current websites make money through the Amazon Affiliate Program. If Amazon ever shut down my account, my income goes out the window and I'm screwed. I really need to diversify my income with either Google Adsense, Clickbank or some other affiliate/advertising program. Or make my own product to sell. I'll think about it more when I get back from vacation. Right now, I'm just going to focus on the websites I already started and work to increase the income they produce.

    Sorry if this post is confusing. I know a lot of people don't know anything about or even care to know anything about internet marketing. It's definitely not a career for the faint of heart. I'll post another update about my 12/16/16 goals when it gets closer to tax season since that is one of my bigger goals - figuring out and paying my taxes. Good luck with everyone's 12/16/16 goals!

  8. #52
    Registered User Raiquee's Avatar
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    Best friend bought a new SUV. She told me she doesn't even know how they are going to afford it. I worry for her.

    Got $50 in our EF. I know it's not a lot- but it will be fully funded for sure by the time taxes come (end of Feb). Anything I can add is helpful.

    Paid off beef fully. Paying $200 for hubby's tuition on Wed.
    Step 2
    Will update this when I have time

    Food grown for my family so far: 37lbs 1 oz!

  9. #53
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    New!

    We have been better about sticking to a budget and paid cash for holiday gifts. The mountain of debt is slowly shrinking! DH is a SAHD and just got a part time job which will really help the snowball. Posting for motivation! Thanks in advance.

    12/16/16 challenge
    E fund: $271/1000
    Debt 1 by 8/2016: 0/$2300
    Debt snowball. Reduce debt by 20,000 (160,600 total): 0/$20,000
    Save for second car: $0/2000

  10. #54
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    Waiting to get the bill from our mechanic for the recent work we had done. I'm guessing it will be between 1,000-1,500. Then I can figure out the snowball. Other than that I went over my budget with a fine tooth comb. Hoping it will work. I will need to adjust the next couple of months to see how it will go. Hoping to have the smallest credit card paid off by the end of the summer. Then onto the next two. If I can keep putting money in my savings without taking any out for emergencies then I will have over 2,000 in there by 12/16/16. We will see.

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    AllyG-admittedly out of my realm of experience but interesting. My Dbro write article when he can get them via internet but I have no idea how close it is to what you do. He gets paid well but sporadically so its lucky his Dwife is in acct. Their boys are finally old enough they can both work. The reason IDK exactly how similar it is,well,its a sore subject. He was a newspaper repoter and got let go as the industry contracted. He just lastyr. got a client base but even thats not stable.

    FINALLY after a month,recieved my Dhubbys check in the mail. Supposedly the service lost his W-4. And then of course the holiday mail. Come to find he's on a 1099 so we have to guesstimate the taxes. I am just w/holding 1/3 for security sake.
    My window in the van came out of the "shelf" it sits in and needs repair.
    I am 50% done w/ my pantry overhaul (huge pantry) so that makes me feel good.
    I have groc. set at $600 for 2 1/2 adults w/ stockpiling and saving for the freezer. Hope to reduce that soon.
    Still debt free and holding. Barely.

  12. #56
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    pay day . Put $100 of my overtime pay towards loan payment principal.

  13. #57
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    Ok, I just paid our mechanic and updated my signature with what I owe to whom. If our Expedition is down to what I think it is we paid over four thousand on our debt this year. Not too bad but geesh wish it would have been more. DH got a good raise and mine should be pretty good come July. I also get an extra week vacation this year. YAY!!! That makes four weeks a year. What will I do with it all

    Anywho's I have written down everything I need to budget for the year. I will tweek it as things change. I opened more savings accounts in my Capital one 360 account. Hoping this helps with figuring everything out.

  14. #58
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    I haven't joined here yet?

    The budget for 2015 looks very positive. When we moved and downsized we went from housepayments of $2000 to only $600, and got a salary increase of $9000 (yearly). If we are really lucky, this year we might even start getting disability insurance payouts due to DH's illness.

    But all of that means nothing, if we can't decide on our goals and agree to keep a tight budget. I'm already feeling things slipping away from us. We are splurging on food, buying clothes without thinking, and buying stuff like coffee machines ($400) and new wood stoves ($700) on a whim. Or, not really. This is stuff we have been talking about buying for several years, and we are the kind of people who are satisfied for decades when we finally get something that works. But we didn't need to get them ASAP without considering cheaper options. And then, when I had the slush fund nicely growing, I suddenly just had to transfer the majority of it to the student loan.

    This can't continue. I don't regret buying the stuff, or making that large extra payment towards the loan, but we need to make a plan AND STICK TO IT, not jump around like a headless chicken (yelling loudly at myself).

    So what is the plan?
    1. Slush fund - mid February -$3 000
    We need a slush fund, to make sure there always is money to pay the bills. I can't stand budgetting every dollar and waiting for the paycheck to reach my account, hoping it won't be delayed because something is due. I want there to be enough money in the bank to cover all expenses for the month. A bit like the YNAB rule of living on last months income. I was thinking 10K, but I think that is to much? That is more like a full blown emergency fund. Maybe $3000 is more sober?

    2. Student loan #1 - mid April - $9 500
    This was at 12 000 in December, before I transferred our slush fund to it. I really want to get rid of this one. It is getting so low that it is just annoying. Mathematically not the smartest move, the interest is at 2.24 % and it will be forgiven if DH is declared disabled, but it is like an annoying burr in the back of my neck.

    3. New windows and insulation - December - $30 000
    We got several quotes from contractors, and this was the max price. We can start the work when we reach 20k. The windows are rotten, and there is no (zero, nada, nothing, zip) insulation in the walls. In Norway. This is the reason I went to the shop and grabbed the closest wood burner the other day. Sub zero temperatures with no insulation and rotten windows is not fun. We will survive this winter, although the heating bill will be high. But I really need to get this fixed before next Christmas. But it is a comfort thing, not a saving thing: electricity is very cheap here, and we do have access to free fire wood. Maybe we will be able to save $1000/year, max.


    And then in 2017 and 2018:
    4. Student loan #2: $36 000
    Also annoying, but slightly less so.

    5. Full size EF: $10 000
    We feel very secure, with several different streams of income, good insurances, welfare system that takes care of health care costs, full fridge and pantry, etc. If I'm healthy, I can get employed within a week. If I get sick, I'm guaranteed 100 % payment for a year, and 60 % for 4 years. 10k would keep us going for two or three months, at least. I don't know; should we aiming for more?

    6. Mortgage: $220 000
    We have a "upper limit loan". This means we don't have to pay anything down as long as we keep it within the upper limit. We have to pay ~$450 in interest a month to keep it within those limits. I'm not planning to pay much more before we reach all the other targets. But after that, we will be getting rid of this thing too.
    Total paid/saved: $214 900
    Total goal: $304 900
    To do: $90 000

  15. #59
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    Just paid $190 on the smallest credit card. I have $250 in the ef so far. I have stuck to my guns on the budgeting. Hope to keep things up. I am working an overtime shift at the end of the month. Hoping to work at least one more. Should cover my soon to be six year old's bday weekend. We are getting a motel room that has a waterslide for a couple of nights.

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    2015 was a great year! Paid off $19,775. Saved 9 month EF and enough to fix the house.

    I've made my first 3 2016 goals with more to come as life is always changing.
    2020 Goals:
    Pay off Ohio House - PAID OFF!! March 2020
    Save for whole house generator - $0/$15,000 (Guess amount, no quote)
    Fully Fund all Retirement Accounts & HSA - $12,500/$43,000
    Save for fruit trees - $0/$2,000 (by December)
    Survive Outage - 6-12s for 3-6 months.....love the pay, hate the hours
    Save for pond....now a 2022 goal

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