12/17/17 Debt Reduction and/or Savings Challenge!
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  1. #1
    Registered User Raiquee's Avatar
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    Red face 12/17/17 Debt Reduction and/or Savings Challenge!

    We are back for another round!

    What debts do you plan to get out of by 12/17/17 (December 17th, 2017)??
    What saving goals do you hope to reach by 12/17/17??

    Post your progress in your signature, and here to stay accountable! Anyone can join, as long as you have goals, and come here to cheer others on!

    I am going to clean a bathroom and will be back with my 2017 goals in another post! (So ignore my signature for right now)

    Let's do this 2017!!

    Step 2
    Will update this when I have time

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

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    thanks, Still debt free but we have remodeling/repairs this coming year like ceilings,furnace,maybe driveway and a zillion other things.

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    Registered User EmilyD's Avatar
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    I am planning a new budget for 2017.

    Am working on it right now
    EmilyD

    Change/Piggy Bank Jar Challenge (I use it for my clothes allowance)
    All silver change into piggy for 1 year (Oct 2019) (Will turn in today 1/3)
    Household savings account $200.00 monthly, current bal. $900.00
    My savings: current bal. 10.00
    Pay extra on mortgage/loan/auto $50.00 @ monthly


    Projects for 2020:
    # 1 New front porch
    Major declutter house
    Major declutter garage

    2020 Stash Management
    2020 Frugal Challenge
    2020 House Purge / Declutter Challenge
    2020 Meal Planning Challenge
    2020 Grocery Budget Challenge $250.00 monthly

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  5. #4
    Registered User Raiquee's Avatar
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    I wish financially I hadn't done better last year, but I didn't. So I'm brushing off the dust and 2017 I am striving for financial peace. Here's the nitty gritty for us:

    Pay off last of medical $400 (Goal: end of Jan 2017)
    Pay off CC#1 - $400
    Pay off CC#2 - $2900
    Pay off CC#3 - $1800
    Pay off CC#4 - $2700
    Pay off CC#5 - $2500

    These have been our problem lately. We used one CC and that got out of control. The others we have paid minimums on for SO Long and have gotten no where and I'm done with it! I'm financially fed up!

    I'm leaving me grocery budget at $400/month for family of 5.

    If those all fall into place rather rapidly, then I hope to also pay off our car by the end of the year, which only has less than $5k on it but I'm not sure on exact number.

    Whew. I'm hoping to group the two smaller credit cards together in my mind, and at least pay off each big CC in each quarter. So that's 800-1000 in debt each month. Not including our minimums.

    I just gotta have strength.

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    well you got school under your belt so I'm sure you'll use any extra money to shoot that debt in the butt.

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    Quote Originally Posted by Raiquee View Post
    I wish financially I hadn't done better last year, but I didn't. So I'm brushing off the dust and 2017 I am striving for financial peace. Here's the nitty gritty for us:

    Pay off last of medical $400 (Goal: end of Jan 2017)
    Pay off CC#1 - $400
    Pay off CC#2 - $2900
    Pay off CC#3 - $1800
    Pay off CC#4 - $2700
    Pay off CC#5 - $2500

    These have been our problem lately. We used one CC and that got out of control. The others we have paid minimums on for SO Long and have gotten no where and I'm done with it! I'm financially fed up!

    I'm leaving me grocery budget at $400/month for family of 5.

    If those all fall into place rather rapidly, then I hope to also pay off our car by the end of the year, which only has less than $5k on it but I'm not sure on exact number.

    Whew. I'm hoping to group the two smaller credit cards together in my mind, and at least pay off each big CC in each quarter. So that's 800-1000 in debt each month. Not including our minimums.

    I just gotta have strength.
    Are you going to do Dave Ramsey's debt snowball plan? You need to cut up and cancel all those credit cards, if you havent already! WTG on working on getting out of debt!

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    I'm debt free, and have been for about 8 years. I am saving up money to buy a new (used) vehicle. Got about $7000 to go.

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    I had high hopes for debt reduction in 2017 but that has changed to saving as much as I can.

    I'm a contract employee and last week I found out that my job could be over as early as 1/1/2017 if corporate gets their way and eliminates my position. Or I could be here as long as 12/31/2017 if they decide to hire and replace me with a full-time company employee (To replace my position in a different department took almost 1 year). I was offered the job but declined it. It would be an $8/hour cut in pay, plus I lose my per diem, its salary and I'd have to work an extra 10-15 hours a week for "free" thus reducing my hourly wage even more (plus during outage I'd be required to work 75 hours/week for the pay of 40 hours for a minimum of 5 weeks) and to top it off there would be more work load. Thanks but no thanks! I'm going to take my chances. I should be able to save $3,000 a month - that's my goal.
    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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    Quote Originally Posted by stevekozak View Post
    I'm debt free, and have been for about 8 years. I am saving up money to buy a new (used) vehicle. Got about $7000 to go.
    Same here! Also totally debt free and saving for a new to us vehicle. For those plugging away at their debts, I agree that it is important to cut up those credit cards.

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    me 3. We are debt free for 5 yrs. and i have $14,000 saved for a vehicel,we just got DH 1 last year cash. I will prob try and save another $5-$10,000 not quite sure. I want new as possible because we just keep them forever. Depends on what I can get out of the 13yr old van this winter. I have $10,000 saved for a new heating and colling system. And about 10 months emergency fund and about a years worth of groc. stockpiiled. Our retirement need more work as does our home. I am living on about 50-60% of our income. DH is a contract employee w/ physical issues so I am very careful of the pennies. We just live as if every month is the last employed. I havent worked a paid job in quite a while and save expenses staying home. I am able to grab the deals ,save the gas,keep the household going more cheaply.
    This isnt a brag but hopefully encouragement. 10 yrs ago we were over $300,000 in debt after his accident plus our debt before hand. 6 yrs ago mortgage free but $30,000 in CC. Then debt free and working hard to stay that way for 5 yrs.

  12. #11
    Registered User Raiquee's Avatar
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    Ok, my medical is actually a little bit more than I anticipated.

    Medical remaining: 1226. I hate how medical is like that. 854235024390 different bills. Sigh. No one better get sick next year.
    We also have a debt for a furnace that we need to repay to my husbands company so that's $835.

    These two are our first priorities, then we start the CCs. In two fridays I plan to put a big chunk to it.
    Step 2
    Will update this when I have time

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

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    If those all fall into place rather rapidly, then I hope to also pay off our car by the end of the year, which only has less than $5k on it but I'm not sure on exact number.
    Don't know the interest rates on your loans - but I would guess that the signature/revolving loans have way higher rates than the car loan? If so, refi the car for its max value and use the money to clear the toxic CC loans. Same amount of money borrowed but lots less interest to pay.

  14. #13
    Registered User Raiquee's Avatar
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    Oldguy) that is a way to look at it, but my car got the miles packed on super fast and it has a cracked windshield. It's really not worth much more than what I owe on it, so I doubt they will refi for more than its worth.
    Step 2
    Will update this when I have time

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

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    Quote Originally Posted by Raiquee View Post
    We are back for another round!

    What debts do you plan to get out of by 12/17/17 (December 17th, 2017)??
    What saving goals do you hope to reach by 12/17/17??

    Post your progress in your signature, and here to stay accountable! Anyone can join, as long as you have goals, and come here to cheer others on!

    I am going to clean a bathroom and will be back with my 2017 goals in another post! (So ignore my signature for right now)

    Let's do this 2017!!

    My depreciation happy Lancer AWC. Never Again will buy a car that is expensive and depreciates this much.

  16. #15
    Registered User Raiquee's Avatar
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    It's ok remusrm, we all pay our stupid tax. None of mine are smart either! The smart thing is we are looking to getting it gone!
    Step 2
    Will update this when I have time

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

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