I'm ( fill in the blank) and this is 2020 - Page 3
Page 3 of 5 FirstFirst 12345 LastLast
Results 31 to 45 of 70
  1. #31
    Registered User
    Join Date
    Nov 2009
    Posts
    132
    Post Thanks / WTG / Hug
    Rep Power
    11

    Default

    This year I'm hoping to have my largest credit card paid off by August. Then I will be adding more debt by getting a newer car. We will see how long I can hold DH off for. He wants me to get a new vehicle right now in the worst way. I want at least one card paid off before I do that. Then I plan on putting my smaller card on a no interest balance transfer. I have an old checking account that my student loan comes out of. I will figure out the credit card pay off and let that account pay off the balance. Then in July when our benefits switch over, I plan on putting the max amount in my HSA. Both of my boys have had dental issues and I would also like to have the max amount I might have to pay out of pocket in my HSA.
    Debt repayment

    cc#1 -5,465.31
    cc#2 -5,134.00
    House- 86,970.51/51,037.82
    Student Loans- 35,545.84/13,500.00

  2. #32
    Registered User
    Join Date
    Mar 2008
    Posts
    522
    Post Thanks / WTG / Hug
    Blog Entries
    216
    Rep Power
    14

    Default

    Almost end of February. How is everyone doing. I managed to get to the bank this week to add more to my IRA. Hoping to fill those quickly this year. Not sure how quick I can do it. We are doing well with our goals though so far. ( a lot slower than I want. My magic wand isn't waving fast enough, haha) Still waiting for the envelopes for the Roth account to add to that. so for the time being I am just setting aside the money and waiting until I get that information.

  3. #33
    Registered User
    Join Date
    Jul 2013
    Location
    Norway
    Posts
    406
    Post Thanks / WTG / Hug
    Rep Power
    9

    Default

    End of February, and the work on getting solar and a safer EV charger has started. Turned out we needed to strengthen the roof (or rather, DH wanted a stronger roof before putting up solar panels), and that added some costs to our goals. Fixing the breaks and getting a new charging cord for one of the cars took a good part of the cash flow this month. On the good side, we managed to keep to the grocery budget, and thanks to the new windows and added insulation (and warmer temperatures), our electricity bill for January was 1100 kWh less than last year.

    Index fund and stocks: $13 400 ($10 000 left in 2020)
    Mortgage/extra EF: $10 000 ($40 000 left)
    Mortgage main part: 0 ($115 000 left)
    Solar energy and EV charging: $2 000 ($13 000 left)

    Student loan #1: $9 000 (done)
    House renovation: $35 500 (done)
    Full size EF: $ 15 000 (done)
    Property lease and paperwork: $10 000 (done)
    Student loan #2: $27 000 (done)

    Total 2020: $ 6 000 ($37 000 left)


    Total paid/saved: $121 900
    Total goal: $299 900
    To do: $178 000
    Total paid/saved: $214 900
    Total goal: $304 900
    To do: $90 000

  4. Remove Advertisements
    FrugalVillage.com
    Advertisements
     

  5. #34
    Registered User jettsmom's Avatar
    Join Date
    Feb 2002
    Location
    Midwest
    Posts
    2,296
    Post Thanks / WTG / Hug
    Rep Power
    21

    Default

    I was hoping to be in better shape that we are. Ds had some issues and we helped him out a bit. He said he'll pay us back when he gets his bonus. He always does, but we'll see this time. He's going through a divorce and that may get tricky. Because of this we had to charge a few things. My main goal is to pay off the 0% first. If I don't the interest rate is so high. Just paying extra when I can. Dh hasn't had much overtime because of all of his doctor appointments. Sometimes he has to use the overtime just to make up the time missed. For the most part we aren't adding debt. Most of what we have added is from ds. We did do some 0% stuff, just so we would have the cash in case ds needed anymore help. It's a sad, stressful situation, but we'll all get through it. Gotta pay for the dog stuff on Thursday. He's getting neutered, chipped and some teeth pulled. His baby teeth aren't falling out.

  6. #35
    Registered User
    Join Date
    Jul 2013
    Location
    Norway
    Posts
    406
    Post Thanks / WTG / Hug
    Rep Power
    9

    Default

    Finally, after years of tests and paperwork, the state has decided. They do not think DH can ever get back to work, and has granted him disability. In addition to the safety of a monthly "paycheck" the rest of his life, this will finally put an end to our insurance claim, and we will get a five figure lump sum payout. I want to use it to get closer to paying down the mortgage, but DH wants to put it into index funds. We'll probably agree on some mix of the two. Our overall monthly income will be reduced by around $1500, making it harder to save every month. I was fearing it would be a reduction of $2000, so this was a positive surprise.
    Total paid/saved: $214 900
    Total goal: $304 900
    To do: $90 000

  7. #36
    Registered User
    Join Date
    Jul 2013
    Location
    Norway
    Posts
    406
    Post Thanks / WTG / Hug
    Rep Power
    9

    Default

    Had a long talk with DH yesterday, and we have decided on a strategy. The lump sum goes to the mortgage and solar/EV, but we increase the monthly index fund savings so that all our "normal" monthly surplus goes there. That will leave less room for paying down the mortgage, but we can still do it with extra windfalls.

    I'm struggling with how to do our monthly budget now. We are used to getting some income every week, and just cashflowing all the bills and expenses. Now we'll be down to two larger paychecks the 12th and 20th, and a tiny bit extra at the very end of the month. I think we'll have to budget a month ahead, or do some form of sinking funds, but this will probably take some adjusting before we have it perfected. Looking for good advice here if anyone has it.


    Index fund and stocks: $13 400 ($15 000 left in 2020)
    Mortgage: $90 000 ($75 000 left)

    Student loan #1: $9 000 (done)
    House renovation: $35 500 (done)
    Full size EF: $ 15 000 (done)
    Property lease and paperwork: $10 000 (done)
    Student loan #2: $27 000 (done)
    Solar energy and EV charging: $15 000 (done)

    Total paid/saved: $214 900
    Total goal: $304 900
    To do: $90 000
    Total paid/saved: $214 900
    Total goal: $304 900
    To do: $90 000

  8. #37
    Registered User
    Join Date
    Aug 2015
    Location
    Virginia
    Age
    64
    Posts
    2,604
    Post Thanks / WTG / Hug
    Rep Power
    10

    Default

    Gaja I have been keeping a spreadsheet for years now so I can refer back to previous year for any month and see what bills fall due (some things like insurance 2X yearly, some things 4X yearly, other things monthly.) You probably want a spreadsheet like that and start filling in based on last year, you can look at your check book or credit card statement to get last year's info. Or you can probably use software like Quicken and enter all the regular bills and projected income.

  9. #38
    Registered User
    Join Date
    Jul 2013
    Location
    Norway
    Posts
    406
    Post Thanks / WTG / Hug
    Rep Power
    9

    Default

    We do have overview over the bills, but how and when do you put the money aside for them? Do you set aside a set portion of each paycheck to a bills account, and let them sit there until the bill comes due? (e.g. over the years, we have 24 000 in bills, so every month we could set aside 2000). Or do you set aside the exact amount you will need the next 30 days?
    Total paid/saved: $214 900
    Total goal: $304 900
    To do: $90 000

  10. #39
    Registered User
    Join Date
    Aug 2015
    Location
    Virginia
    Age
    64
    Posts
    2,604
    Post Thanks / WTG / Hug
    Rep Power
    10

    Default

    When I was timing taking money from my checking account to move to investments, I projected my bank balance by day each month, knowing when income would be deposited and when I needed to pay certain bills by their due date. Knowing I had to keep a certain balance on hand, I only invested when it would not lower my cash-on-hand too low. I don't think your savings/investment will be a specific amount every month because of the timing of the bills. I did usually look at a month at a time. My biggest bill is real estate taxes 2X yearly. For that I would probably keep money in a separate account if necessary.

  11. #40
    Registered User
    Join Date
    Mar 2008
    Posts
    522
    Post Thanks / WTG / Hug
    Blog Entries
    216
    Rep Power
    14

    Default

    I only look at the current month of bills and calculate from that. ( also making sure that regular savings is included) With our extra money not needed to pay bills is used for investment/extra mortgage payments/ extra savings goals. got more put into the IRA today. I always feel better when I get some put in each month. It will be a lot slower going this year but that is OK, as long as it goes in there.

  12. #41
    Registered User
    Join Date
    Nov 2018
    Posts
    843
    Post Thanks / WTG / Hug
    Rep Power
    2

    Default

    I will have my surgery paid off in August.
    I'll need tires for winter, but probably just two as the back ones are in fine shape.
    I cashed my rewards points to replace $ I used in my emergency fund.

  13. #42
    Registered User
    Join Date
    Mar 2008
    Posts
    522
    Post Thanks / WTG / Hug
    Blog Entries
    216
    Rep Power
    14

    Default

    Hopefully this is not a time of panic mode for each of you. I am slowing down my adding to our IRA's and a lot extra to our Mortgage at this time. ( just to see where we are when things let up, that money will be saved up and deposited when things calm down some) Stay positive, this too shall pass, and things will get back to more normal. this is just a small hiccup in the world right now. May your jobs be safe right now and you are hopefully able to continue to work. ( DH can work from home right now, and I am on my way out to stay with another DD at this time as she has a baby due in April and needs her mama! I may not be able to get back on so keep your chins up! let's build one another up and offer what support we can! Till later

  14. #43
    Registered User jettsmom's Avatar
    Join Date
    Feb 2002
    Location
    Midwest
    Posts
    2,296
    Post Thanks / WTG / Hug
    Rep Power
    21

    Default

    We got an offer from our auto loan to defer payments for 4 months. We are going to do that and use the money to pay down higher interest bills. That will help a lot. We don't plan to get rid of the truck, so extending 4 months isn't bad. The interest rate is low. We've sent money to ds over the past few months. Things are rough for him. He's going through a divorce and she's being a B*%@$. He's trying to get his vehicles to where they are more dependable and didn't want her knowing he was spending money, so we helped him out for now. He'll pay us back when he gets his reenlistment bonus and then we can pay off a few other things.

  15. #44
    Registered User
    Join Date
    Mar 2008
    Posts
    522
    Post Thanks / WTG / Hug
    Blog Entries
    216
    Rep Power
    14

    Default

    I ended up having to turn the reigns of our finances over to dh while I am gone. He double paid our mortgage. I was furious. I made him call the mortgage company. I didn't have any of our information with me. they are going to credit it for the May payment so next payment is not due until June 1. whew. He is able to pay off the final amount of one small medical bill. He is also half way through getting a crown done, but dentist office is closed right now, so will have to wait to get the rest of that taken care of. He cannot add to my IRA, and we are still working on finding out how to add to his Roth. so for the mean time none of that is getting done. It will happen when I get back.
    hang in there. This too shall pass.

  16. #45
    Registered User
    Join Date
    Mar 2008
    Posts
    522
    Post Thanks / WTG / Hug
    Blog Entries
    216
    Rep Power
    14

    Default

    Still not home to take back over the finances so DH is still plugging along. He got a raise, which we were totally not expecting. so nice especially with all the virus stuff going on. He paid off the one medical bill, and ended up getting a refund I guess on part of it. Anyway a small refund which I had him put into our savings account. He is still waiting for part 2 of his crown. He will be so glad when that gets finally done. ( I have been gone 6 weeks so far an still no idea when I will make it home. but DD loves having me here to help with her 2 babies, baby 1 just loves her little sister, so much so, that we caught her after she had climbed into the bassinet to sit with her baby, and then proceeded to put up a fuss when she was removed from the bassinet for both their safeties) Hope all are doing well with the crisis going on.

Page 3 of 5 FirstFirst 12345 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •