12/17/17 Debt Reduction and/or Savings Challenge! - Page 2
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  1. #16
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    My goals for the 2017 year will start out as fully funding my IRA and DH's Roth IRA. We will start there and see where we go from that. ( that is $13,000) to start. Hope to be able to also get some more savings in there too of some sort. We shall see.

  2. #17
    Registered User MsMarieH's Avatar
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    I'm in! I'm GOING to pay off EVERY single debt I have on record as of right now by December 31, 2017, except for our mortgage. But everything else will be GONE! Will report back starting numbers on January 1.

    I'm so excited to see light at the end of the tunnel!
    2020 Pay Off Debt Challenge: $25,675.45/$25,676.45 (Goal COMPLETED: Pay Off By 12/30/2020)

  3. #18
    Registered User Raiquee's Avatar
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    YaY Marie, glad to see you here!

    We got on a payroll deduction for the furnace bill we owe, so that will be gone mid-Feb!
    Step 2
    Will update this when I have time

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

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  5. #19
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    ok so both kids are out and we are debt free. So I need to learn more about investing in low stress/low risk means. Whether its a class or whatever my knowlege is limited.
    My goal is to save $30-$40,000 this year. That we continue to live on 50-60% of our income.

    And once again go ladies GO!!!!!

  6. #20
    Registered User patra's Avatar
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    I have a bunch of debt.....I don't know how to add it to my signature or I would. I have SSI-2100
    cc1-1800
    cc2-2400
    cc3-4000


    when I was on SSI they overpaid me a couple times, I really didn't understand the system and didn't send it back.So now I have a debt to pay. I have no income,other than 400 in dividends from my annuity and 600 rent from my BF's son. It is a bit of a quandry. We live on my BF's salary, he is switching jobs come the new year going in to be an insurance broker.( he has done that in the past just has to be re-certified.) As I am disabled, it is difficult to hold a job. I just got out of the hospital, and am not going back to work. I made less than 800 a month but it was something. I may try to sell some appliances I have or my paintings, I am an artist. I plan to dedicate time every day to my artwork. I sold one painting awhile ago on etsy, but that site confounds me so I will find another way. Good luck everyone!

    Patty

  7. #21
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    2016 was ok, but not great. We got some insurance payments that should have increased our savings rate more if we had lived more frugally. We are currently at $29 700 saved and paid down during this year, and should be able to reach 30k before new year, so it is not bad either. Finished the sluch fund ($3300) and DH's student loan ($12000). We only paid minimum on my student loan, but that still reduced it with $2400. We are almost half done with the renovation fund. It is now on 12k, but we need 18k more.

    The goal for 2017 is to finish the renovation fund as fast as possible. After that we have to see if the car replacement needs to be put ahead of the student loan. The good thing about waiting until we've saved up, is that we have found an alternative car that ticks all our boxes and costs half as much. The ticker has been updated to show the savings for the cheaper car.
    Total paid/saved: $214 900
    Total goal: $304 900
    To do: $90 000

  8. #22
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    Quote Originally Posted by gaja View Post
    2016 was ok, but not great. We got some insurance payments that should have increased our savings rate more if we had lived more frugally. We are currently at $29 700 saved and paid down during this year, and should be able to reach 30k before new year, so it is not bad either. Finished the sluch fund ($3300) and DH's student loan ($12000). We only paid minimum on my student loan, but that still reduced it with $2400. We are almost half done with the renovation fund. It is now on 12k, but we need 18k more.

    The goal for 2017 is to finish the renovation fund as fast as possible. After that we have to see if the car replacement needs to be put ahead of the student loan. The good thing about waiting until we've saved up, is that we have found an alternative car that ticks all our boxes and costs half as much. The ticker has been updated to show the savings for the cheaper car.
    Good on ya! What are you calling a slush fund?

  9. #23
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    Our slush fund is about one month of expenses, and is there to make sure we can cover larger bills that come once a year, and most smaller emergencies. So unlike a real emergency fund, we dip into it regularly. But we always fill it back up within a month.
    Total paid/saved: $214 900
    Total goal: $304 900
    To do: $90 000

  10. #24
    Registered User larabelle's Avatar
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    I am so in! I want to continue to pay cash for my grad school and remain debt free. I also want to really build up my emergency fund and live on 50% of income.
    Blessed and Highly Favored!!!!
    From $78K in debt to debt free and purchased a house and used car with 100% cash...God is sooo Good!!!

    Goals:
    New to me vehicle

  11. #25
    Registered User Cricketlegs's Avatar
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    This year I want to payoff a small balance cc and my car. Now my car is set to payoff in November or December but I would love to get it done faster. I also want to continue my savings.

  12. #26
    Registered User Cricketlegs's Avatar
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    CC start $290.60 less $50 at no interest $240.60.

    Off with a bang!

  13. #27
    Registered User Raiquee's Avatar
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    Hey Cricketlegs!

    We paid $100 to furnace off DH paycheck yesterday. So that's now $735 for the furnace.
    Step 2
    Will update this when I have time

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

  14. #28
    Registered User AllyG47's Avatar
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    I made a ton of goals for 2016 and didn't accomplish any of them. I made progress on some of them but didn't follow through. In August, my parents invited me to come with them on a cruise to the Panama Canal in December. They said I would have to pay for my own cruise fare and we would split the other costs. The Panama Canal is on my bucket list so I said YES! We just got back last week. It was an expensive trip, especially considering I had to pay a sitter to watch my dog during the 3 weeks I was gone, but it was a good experience and I'm glad I went. Now that it's over, I need to buckle down, pay down some debt and save for a new house and/or car. My parents are already talking about a cruise for 2018 to Alaska and they want me, my brother, sis-in-law and nephew to come along. I'd like to start saving for that but it isn't going to be a big priority. Here are my 7 goals for 2017:

    Save $1,000 in an Emergency Fund
    Pay off 2 of my 8 student loans
    Save $25,000 for a house (around here, I can purchase a decent fixer upper for around $20-30,000)
    Increase income by $1,000 a month - I own a business and am working on increasing the profits.
    Start saving for a used car
    Start saving for Alaska cruise
    Research and open a retirement account

    Bonus Goal: Start donating to charity each month ($30-50 a month)

  15. #29
    Registered User larabelle's Avatar
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    Looked at the accounts today and was able to cobble together $2,600 for the $5,000 goal this month barring any "craziness" I should meet the $5,000 goal by 01/01/17.
    Blessed and Highly Favored!!!!
    From $78K in debt to debt free and purchased a house and used car with 100% cash...God is sooo Good!!!

    Goals:
    New to me vehicle

  16. #30
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    scooted by again -I think?
    Washer wasnt rinsing but the lines just turned out to be twisted-zero $
    Humidifier on the furnace was gummed up-DH cleaned it for now -zero $$ need to get a new valve in the future
    DW-has been throwing soap and not rinsing the dishes on top-used cleaner and it was better. Put vinegar in and waiting the second load results
    Furnace-new battery for the thermostat. Fixed 1 thing but still not right. DH will research it.
    Dryer-full of lint in the space where the tray goes in-DH made a cone to vaccumn it out-fire averted.
    YEAH!! $5. vs $1000's.

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