2019 Debt Reduction and money Management ( 12-21-2019) - Page 2
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  1. #16
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    KnotMe- Glad you're able to put some $ in the IRA and keep on hand. Glad you're getting jobs too. When DS2 had to choose a skill and sewed a costume for high school as a final project, it had to be approved buy the teacher. She said sewing was a "dying breed." Not on this site, but there are tons of people who cannot sew or hand stitch. I'm sure you will pick up more work. My friend does that for wedding gowns and she is crazy busy.

    I'm pretty sure we'll get a tax refund this year and a used car will cost $3000-$6000. The refund should cover most of that.

    If DS2 goes to the community college and state college, he can get his degree in 3 years and only need a semester of cash as a final payment. I hope to cover it when he needs it.

  2. #17
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    I get swamped with sewing orders. I just finished a Colonial men's vest and did the wife's Colonial dress in matching fabric. turned out nice. It will slow down a bit and then pick up. so sad that they don't teach this skill any more. Thanks!

  3. #18
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    I actually wasn't planning on doing my banking/errands etc today. I was planning on later in the week, but there is icky weather on the way and DH told me he was taking my vehicle to work as it has AWD whereas the pickup does not and he doesn't want to be out stuck in icky weather with the truck. therefore, that meant banking today, so I was able to add more to our IRA's today. ( nickel and diming it I call it. adding small amounts to the account and before you know it. Boom you've reached your goal) So we are now at 10% added to the accounts so far for the year.

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  5. #19
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    Not a bad month. We had a lot of bills, but thanks to several refunds we still made a good start on the 2019 goals. One refund was a prepaid ferry card that we don't use anymore, the other was from the car shop who decided one of the repairs last year should be consider warranty. Also, my union negotiated a .5% lower interest on our mortgage (down to 1.99 %). The extra savings of $50/month is appriciated. The extra savings of $1.5 from a slightly increased interest on the checking account has less economic value, but is quite fun since it gets deposited monthly.

    We have received the bill for the land lease, and have filled out all the paperwork and forms. So if everything goes smoothly, we might check off that goal on the list before Easter. Fingers crossed! Even if we calculate a few delays, it should be possible to get if fixed before the summer holidays.


    Slush fund: $2 500 (done)
    Student loan #1: $9 000 (done)
    House renovation: $35 000 (done)
    Full size EF: $ 12 500 (done)
    Property lease and paperwork: $2 250 ($ 7 750 left)
    Student loan #2: $7 400 ($19 600 left)
    Index fund and stocks: $4 800 ($6 600 left in 2019)
    Mortgage main part: 0 ($115 000 left)
    Mortgage rest: 0 ($50 000 left)

    Total paid/saved: $73 450
    Total goal 2019: $3050 done ($46 950 to go)
    Total goal: $272 400
    To do: $198 950
    Total paid/saved: $214 900
    Total goal: $304 900
    To do: $90 000

  6. #20
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    I was able to finish the hem job on the 2 prs of pants and got paid cash for that. I have picked up another hem job. I keep thinking that nickle and diming is the best way for me as the little bits add up to the big amounts. We were able to stash about 10% into the IRA's last month. New month and new amounts heading into those accounts. ( also down to 6 yrs 10 months on our mortgage and hope to shave it down a lot more this year) and it is snowing again today. the vehicle I usually drive has the AWD on it so the DH has been taking it all week for his commute. This leaves me stranded at home as I really do not care driving the pickup. So since I can't go out, I sure don't spend money at all the stores I have frequented this week. ( haha) Next payday will be more amounts added to our IRA's.

  7. #21
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    Quote Originally Posted by NikoSan999 View Post

    1. I have several "goals" with the biggest being a new to us vehicle. We want it to be a good one and not a beater as we're set to close the business this year... maybe real soon. I've said that before but his health isn't getting any better. No idea when though. Maybe real soon... maybe later on in the year. Anyhoo... want one that hopefully will last a long long time and not have major mechanical issues. DON'T want one with bells and whistles like push to start.

    2. Want to do this without breaking all savings. Those are the main goals.

    3. Want to do something as a head start for Christmas. Our bank does Visa/MC's and no activation fee. Thinking of doing one a month... or more like whenever I can swing it .... in $25 dedominations. Between that and doing Swagbucks I can cover Christmas I think. Guess this could be considered a sinking fund but whatever. Same thing.

    That's the ones I can think of for now. I might think of something else down the line and will add if I do.
    4. Adding the hot water heater to this. I mentioned on another thread this one is leaking and sure don't need it ruining the floor. I've acquired a crap ton of my points and swagbucks and close to being able to cash in and cover it but not yet. Hopefully this one can be crossed off before long. Right now have a thick towel under the spiget.

    5. Another appliance or appliances. Washer and dryer. Can still use them but.... Hoping for them to hold out till I can acquire more points to cover at least a couple hundred on them. I think they will.

    I could add to this list all day.
    Bank of America is THE godfather of Hell with Wells Fargo running neck and neck. When the world ends the only things that will be left are cockroaches, Walmart, Wells Fargo and Bank of America. Not necessarily in that order. The order remains to be seen.

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  8. #22
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    Niko, if you need an appliance, you might want to buy now, before the tariffs kick in. Expect a 25% increase in prices then. I think that may start March 1 but can't recall for sure.

  9. #23
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    today is my oldest DGD's birthday so Happy Birthday Miss T. I was surfing the web ( boy that can be dangerous) and founda CD offer that was way better than what I currently have any of mine in. Opening a new CD was one of my goals this year. so I was thinking and planning on how or when, and I checked again. Rats......... at a bank not in my area and I won't do one online if I can help it. So still saving up for a new CD when the rates get better in my area. Tomorrow I plan on hitting the errands to add more to our IRA's for this year. I am watching the weather and next week it is not looking all that great so I guess earlier is better. Got my CC paid off that had our vehicle repair on it. Money had been set aside for it so no interest. And I got my big wedding dress alteration done in plenty of time for the wedding. Update for now. hopefully you are having good experiences with your financial goals.

  10. #24
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    Was able to make it out Friday for my errands and did get money into our IRA's. Nickels and dimes here I come. Well, actually more that just change but still small amounts at a time. Yes, the bad weather did come in and DH is taking my vehicle as it has AWD, and can handle the snow and ice better than his truck. I will be without my vehicle for at least 2 days this week. Means I don't go out to the stores. So no money spent. I guess that is a win.

  11. #25
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    I am working so hard to get my car paid off! After tax refund and another unexpected lump of cash, I’ve been able to pay $3000 towards it this month! It feels really good. It is down to $5100 today. I’m so excited to get under $5k. It started out at $27k.

  12. #26
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    Welcome KPalmer. We are glad to have you with us. I have managed to get some more put into our IRA accounts. We are up to 25% or just a bit more than that. Slow and steady, nickle and dime, large chunks at a time it will get filled.

  13. #27
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    Did some updating to my debt spread sheet. So excited to see my car at $1000. It will be paid off in 4 months and best buy will also be paid in 4 months. Then we'll roll all that toward the next one. After those two are paid, we hope to have 5- 6 more bills paid off by the end of the year.

  14. #28
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    KP- good job! Just a little bit to go....

    Jett- love that snowball process since it works so well.

    I don't have any debt at the moment, although things may change soon. I've got a trip coming up and have 50% so far. I asked DH to pay for 20% of the trip but he hasn't responded. Plus, I may be out of work for a bit...I don't want to cancel the trip as my sister and niece are going with us and that would really upset my niece. My sister did ask if I wanted to cancel, but I said no. I just hope my CC is paid off as soon as possible if I don't have all the $ to do this.

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    Jettsmom- you’re on fire!

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    We did save up a lot this month, but weren't able to cover all of the property lease bill. So the rest was pulled from the EF. If everything goes according to plan, we'll have filled it back up before Easter. The paperwork for the alterations to the house is approved by the city council, and the bill will be paid in March. They calculated that the house now is 40m2 (430 square foot) larger than before.

    The builders are finally getting ready to start on the renovations, and say they will start delivering the materials on Monday. Looks like this might actually be the last winter we are freezing in our own home.

    On the negative side, issues with DHs disability might lead to some months with only 50 % income. If we thighten our budgets and stop the savings, we should be able to cashflow it. I'm really grateful for all the work we have done to become more frugal - it does provide peace of mind.

    Student loan #1: $9 000 (done)
    House renovation: $35 000 (done)
    Full size EF: $ 11 300 (3 700)
    Property lease and paperwork: $9 500 ($ 500 left)
    Student loan #2: $7 500 ($19 500 left)
    Index fund and stocks: $5 400 ($6 000 left in 2019)
    Mortgage main part: 0 ($115 000 left)
    Mortgage rest: 0 ($50 000 left)

    Total paid/saved: $77 700
    Total goal 2019: $7 300 done ($42 700 to go)
    Total goal: $272 400
    To do: $194 700
    Total paid/saved: $214 900
    Total goal: $304 900
    To do: $90 000

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