2019 Debt Reduction and money Management ( 12-21-2019) - Page 4
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  1. #46
    Registered User jettsmom's Avatar
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    I have one payment left on my car and one left at best buy (0 interest). But yesterday we bought paint for the house. I was able to get 0% interest for 12 months, so I'll spread that out and use the bulk of our newly paid off debt to pay off the higher interest first. We really didn't want to add more debt, but I KNOW we'll be able to pay it off before the interest hits. Still on track. We're doing better with not eating out and just staying home more. I'm doing better staying home during the day. We did have a pretty hefty vet bill this week, but ds will pay us back for his share.

  2. #47
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    added anew to us good used vehicle to our family this weekend. Paid cash for it. also was able to add some more $$$ to our last IRA to fill for the year. slowly and surely it is getting done. Wow, we are almost to the end of May. 5 months in to the year. How is every one doing with their goals. Still have another couple of things we need to work on added unexpectedly to our goals so IRA will be a slow add for a while.

  3. #48
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    The house renovations are paid, the EF is full, and I'm struggling with what to do next. I really want to move down the list and get rid of the student loan, but DH is not sure that is the best idea. His disability process has run into a bureaucratical snag, and we might have to live on my income alone in 2020. If we thighten everything we should be able to cashflow it, but it won't be easy. So I do understand DH's worry, and kind of agree that the best idea is to pile up money. But I'm so terribly tired of that student loan...

    The mortgage is a type of HELOC, so we could pile up the funds there, and then decide later what to do with them. Maybe I could reward myself with $100 to the student loan for every $1000 we save up, or something like that.

    Student loan #1: $9 000 (done)
    House renovation: $35 500 (done)
    Full size EF: $ 15 000 (done)
    Property lease and paperwork: $10 000 (done)
    Mortgage/extra EF: 0 ($50 000 left)
    Student loan #2: $9 000 ($18 000 left)
    Index fund and stocks: $7 200 ($4 200 left in 2019)
    Mortgage main part: 0 ($115 000 left)
    Total paid/saved: $214 900
    Total goal: $304 900
    To do: $90 000

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  5. #49
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    Was able to put more into DH's Roth account. Just 1/7th left to get in there. Hope it gets done by the end of the month, but we will see. Have one other thing that has cropped up that we need to take care of first before working on our other goals. So basically doing great in this area right now. We even got a refund on our insurance for our new to us vehicle. I can live with that. Stock dividend comes in this month too. It is a small cheque but better than nothing. As my DH keeps saying, the dividend is better than what we would get for that money sitting in a savings account. got some small sewing jobs lined up for the couple of months and new paino students to mix in with those established students.

  6. #50
    Registered User jettsmom's Avatar
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    Made the last payment on my car on Friday! Made the last payment to Best Buy 2 weeks ago. Will now use $50/12 months to pay off a no interest at Home Depot. The rest will be used to make a payment twice a month to another card. I may keep paying the extra $50 to home depot when the interest free is done. Hope to have those two cards paid by the end of the year. My 5 year plan is finally in motion. Well, it's been in motion, I'm starting to see the results. That's what is exciting. I hope to have everything paid off sooner, but that is the plan for now.

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    Was able to add a bit more to DH's Roth account. Looking forward to this being finished for the year. Still adding extra to the mortgage too. Still adding money to the savings account. Have the money in place for another item that popped up. several items have popped into my sewing list over that last couple of weeks too. All in all, going good here.

  8. #52
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    and just like that we are down to only needing $200 to finish filling DH's Roth for the year. That will definitely get finished before the end of July. Now it is on to the other goals I have set for the year. More money to the mortgage, more money to the savings account and more money into our CD's Depending on how I get paid will determine where the money goes. ( cash goes towards a certain CD that comes due at the end of the year. Other years the cash just goes into our cash emergency fund, which I am filling again. When it gets large or more than I want in it, it gets put into a future years CD's or bank savings)
    We are half way through the year!! How is every one doing on their goals?

  9. #53
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    Paid an extra $1,000 on the Ohio house. $6,881.81 to go!!

    I upped the amount going into my and DHs ROTH. The feds upped the limit and I hit 50 this year. We are maxing it at $6,000 each. They automatically take the amount out every month so it's just another "bill" I have in my budget.

  10. #54
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    Yes they did up the amount you can put into the IRA's Just reporting in we have maxed our accounts for the year. I just put the final amount of extra into DH's Roth. What is going in now is the automatic amount paid into it each month. I am calling this a done deal and finished with adding to it for the year. Since DH had to be at his job for 6 months before he could start doing a 401K, we took advantage of the larger paycheques to fill the IRA accounts. First paycheque in July was where they took the first amount out. His company also matched up to 4% so it is like free money. Yes, thank you, We will take that. One of the first companies that DH worked at, the boss would give a bonus at the end of the year to all those who had 401K's and DH said that less than 10% of the employees took advantage of those 401K's.

  11. #55
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    Looking to consolidate 2 mortgages and then do a refi. We hope to get a 15 or 20 yr loan. With rates at 3.8% for a 20 yr, we'll only be paying $100/mth more than what we do now.
    Currently, our one loan is a 30 yr at 4.5% and our other loan is a 5-1-1 ARM at 4.6%.

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    Quote Originally Posted by Livin Large View Post
    Paid an extra $1,000 on the Ohio house. $6,881.81 to go!!
    Wow - that is really close! Well done!


    We are back from holidays. Spent a month on a road trip around Great Britain. It did cost a bit, but with cheaper food and reasonable lodging (mainly airBnBs) we were well within budget. We had saved up the clothing budget, and got loads of clothes for a fraction of the price.


    Student loan #1: $9 000 (done)
    House renovation: $35 500 (done)
    Full size EF: $ 15 000 (done)
    Property lease and paperwork: $10 000 (done)
    Mortgage/extra EF: $5000 ($45 000 left)
    Student loan #2: $12 200 ($14 800 left)
    Index fund and stocks: $8 100 ($3 300 left in 2019)
    Mortgage main part: 0 ($115 000 left)
    Total paid/saved: $214 900
    Total goal: $304 900
    To do: $90 000

  13. #57
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    I love watching our mortgage total go down. this last month we were able to squeeze a bit more than originally thought of to get that balance down. Less than $58000 now. ( and hopefully less than 4 years to get it paid off. That is the ideal goal. We'll see if that happens) New month and more to pay off.

  14. #58
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    No extra but down to $6,580.85

  15. #59
    Registered User jettsmom's Avatar
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    Haven't done too well. We've started shopping for Christmas and birthdays, so the Amazon bill is up. I am paying extra each payday from paying off one CC and the car. I guess I could say we are just keeping up and not really adding anything new. We talked to ds, and his wife hates having debt and he was talking about Dave Ramsey. I'm glad they are working on getting out of debt. Hopefully one member of the family will be debt free. I still have my 5 year plan and I think we'll make it. Hopefully sooner. I did save up to get my new puppy. I saved for two years, just saving my spare change. I found one much cheaper than I originally planned and he's much closer, so it will be a short drive to pick him up. Actually I was $8 short, but I waste that at QT and McD every week. My next change jar, will be to save up for a vacation. Dgd really wants to go to Disney World, so after we get a better handle on debt, we'll start really saving for that trip. I'll continue save my change for something.

  16. #60
    Registered User jettsmom's Avatar
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    Talked to ds this week. He is planning on fixing up his heap of a car that's been sitting in my driveway forever. He wants to sell his current car and put a little money in this one and drive it for a while. They are really on board with getting out of debt. I'm really proud of him. I'm glad he has a wife that works with him. It's mostly her driving the debt free journey, but I'm glad he's on board with it too. Just wish the other son was that way. I know it bugs him to have debt, but things are so tight for him, there isn't much he can do to really attack the debt. They just have to spend less. Dh and I are cutting them off too. We have helped them with so many things for their house that they really needed, and most is still sitting in the garage and still in boxes. So instead of Christmas gifts this year, we are going over to install all the stuff we bought in previous years. Not spending much on them. I'll get them a few gift cards for eating out, so they can have a treat now and then, and get some things for the girls, but the adults get nothing.

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