2019 Debt Reduction and money Management ( 12-21-2019) - Page 5
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  1. #61
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    Not the worst month, not the best. Had some bills from the summer holiday, and needed a new stove in the kitchen. But on the other hand, we managed to keep the food budget on a reasonable level, and we got nice gift from my parents. Still moving slowly towards our goals.

    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: $5100 ($44 900 left)
    Student loan #2: $14 300 ($12 700 left)
    Index fund and stocks: $9 000 ($2 400 left in 2019)
    Mortgage main part: 0 ($115 000 left)
    Total paid/saved: $103 800
    Total goal: $272 900
    To do: $169 100

  2. #62
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    Wow! Already September. We are almost 3/4 of the way through the year. I am sure there are ups and downs along the way with our goals for the year. How is everyone doing? Keep up the great work and baby steps really count in anything that you do. I have a big item that cropped up, all scheduled to be paid off this month so that is a big relief for us. Still managed to get some extra money put on to the mortgage, and still hope to be able to do another CD. ( for us it is like adding to the emergency fund to just bolster that up, secure if we need it, but put away so we are not tempted to use it for something that is not an emergency) Big booboo for a sewing job ( I repped out something that didn't need to be ripped out, just have to sew that part back together, no other damage no rips or holes or anything, just annoying that it was a big mistake......... that's what I get when I do things not feeling the best, I hope this stuff goes away fast....... I hate the lingering of it) Back at piano lessons and love working with my kids there. ( may have another new student start after Christmas..... We'll see if that works out) and one of the best surprises, DD#2 let us know that she and her hubby are expecting their #2, which will mean grandchild #8 for us. So along with everything else I am doing, sewing for a new baby has creeped up in what I need to do.

  3. #63
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    I have generally had a really good year so far. Windows/doors will be paid off in November. Glad to get that bill out of the way. I do have a few credit cards I ran up in the last month or two that need to be addressed. That will be the next thing I tackle.
    2018/2019 Pay Off the Windows Challenge: $29286.34/$31,057.34 (Goal: Pay Off By 11/30/2019)

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  5. #64
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    Well, met my mini goal of another CD today. Yay!!!! and they even were able to boost my rate a bit so it is a bit higher interest rate than what I was expecting to get. Now on to saving up more money for the next CD's that mature in December, add to my savings account, pay extra on the mortgage etc. baby steps, baby steps, baby steps. It is the way to do it.

  6. #65
    Registered User jettsmom's Avatar
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    We are not doing well this year. Dh put his foot down last night. NO MORE EATING OUT. We go out a lot because he feels bad for his brother, but when you add it up, that's a lot of money. So he told me last night, that's it, no more.

    Dh got a bonus this week. We paid some to the credit cards and put most of it away for Christmas and taxes at the end of the year. I don't know why property taxes have to be due then. We have what we call an extra paycheck coming up. It looks like one small utility bill is due then and the rest is ours. Again, we'll pay some on the CC and put some away. My car needs some work done to it before it completely falls apart. I think we are trying to buy a little bit at a time and then he'll do the work when we get all the parts together. Always something. Our computer is on it's last leg and he needs it sometimes for work. Not often, but enough that it's important. Again, buying a little here and there until he can put it all together.

    Dh's parents need a new TV. They just got one, but it's a smart tv and they are just too old to figure it out. So we thought about giving them our old one and getting us a new one. Dh looked at his brother's new TV and wasn't impressed. If we get one, it will be paid off before the interest hits. That's the only way I'll finance one. I've been pretty strict about getting the no interest stuff paid off. We'll see what happens there. Unless we can find a tv that isn't a smart tv for dh's parents, then we'll be looking at a new one and they can have our old one.

    Now I'm off to figure out what to make for dinner. There's plenty of food, it's a matter of cooking it. Hopefully I'll feel better as the day goes on and can get something made.

  7. #66
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    Trudging along, but working too much to really focus on savings. Will get a small raise next month, and also some expenses and per diems from travelling. So hopefully next month will be better. Would have loved to get the last student loan paid down before my birthday in december, but I doubt we can make it.

    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: $6000 ($44 000 left)
    Student loan #2: $15 600 ($11 400 left)
    Index fund and stocks: $9 600 ($1 800 left in 2019)
    Mortgage main part: 0 ($115 000 left)
    Total paid/saved: $103 800
    Total goal: $272 900
    To do: $169 100

  8. #67
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    Knotme- Congrats on getting those cd's! We do use them for DS2 and will be getting one this week.

    We will be locking in the refi this week. We think interest rates will drop a bit since they went up last week. They should drop to what they were 2 weeks ago. We'll lock it in regardless as it will still be .675% less than what we're paying now.

    We're trying to designate our property as agricultural. If it passes, we'll save $2000/yr in taxes.

  9. #68
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    October already..... Where has the year gone. Blink your eyes and it is gone. I hope all is going well with your goals, Remember you CAN do it. If it is important to you, you will make a way for it to happen. If it is not important to you, you will make an excuse. I don't know who said that but I love that quote. So when I plan goals, I try to follow through as to how important it is. And when I repeat this again and again to myself, I get it ingrained into my mind. maybe this will help with your own goals. ( just a thought) I have found enough extra money this month to add mega to my mortgage. I am hopeful that I will get the balance below 51000. It will be close though. ( still trying to shave a few more months off that sucker..... hahaha!) Unrealistic goal set almost 2 years ago was to have it paid off in 5 years. We were at 9 years then, almost 2 years into that goal, and we are at 5 yrs, 7 months. I have been plugging away at it and it shows in what my balance is. How are you all doing?

  10. #69
    Registered User bookwormpeg's Avatar
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    Knotme that's great progress on your mortgage....keep at it girl and you will make it....

  11. #70
    Registered User jettsmom's Avatar
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    We've put a lot of money into savings the past few months. We know how we are and yes, we could pay off debt, but if we have the savings, we are less likely to use credit. We have taxes due at the end of the year and Christmas, so we are hoping that all the savings will cover that and still have a bit for emergencies. My car needs some repairs and we can use the money for that too. We do need a new computer. This one is really on it's last leg. So, all this savings should cover these expenses and we won't need to use credit. Still plugging along with the debt. Still on track to pay off the 0% interest balances before they are due.

  12. #71
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    Not the big sums this month either, but we got the last student loan below 10 000 (BTW: forgot to celebrate that we reached more than 100 000 paid or saved last month. Woohoo!). And I finally managed to document all my travel expenses and extra hours. If everything goes as planned, I should end up with close to $5000 extra income in November. Putting all of that towards the student loan, it might actually be possible to get rid of it this year.

    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: $7000 ($43 000 left)
    Student loan #2: $17 100 ($ 9 900 left)
    Index fund and stocks: $10 200 ($1 200 left in 2019)
    Mortgage main part: 0 ($115 000 left)
    Total paid/saved: $103 800
    Total goal: $272 900
    To do: $169 100

  13. #72
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    Yay, I love hearing your progress on this thread. Keep up the great work. We have had our own setback. We are now a family of 7 vs a family of 2. More mouths to feed and more needs in the house now. I won't go into the reason why, but it was an emergency that DD and her children moved in with us. and it was much needed for them. This means my savings goals and pay off extra to my mortgage to get it gone are going to be diminished by some so may take a bit longer than what I was doing.
    I was approached to take on some new piano students in January which will be good. I've got a barter going on now for some newborn baby pics. So that money is going towards some free lessons vs in my account, but that is OK. She suggested the barter, and DD had wanted to barter some for it too, so it is a win/win situation right now.

    Already thinking what I would like to accomplish next year as far as goals go here. I will post those when we do the new thread for the year.
    Everyone is going a great job so far, yes life happens and hiccups come and go, bumps along the way. It is all the way of life. Keep your chins up and keep stepping forward. I step is better than none at all. ( That is where we are, little tiny steps for now)

  14. #73
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    We're still waiting for the bank to send appraisers out so we can do a refi ! We want to consolidate our mortgages and do a 20 year loan. That will save us $200/mth…..This is taking a long time. Our lender went on vacation, so I think that was part of it.

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