Debt Dumpers 2020

[DLgal]

Ugh I'm so sorry to hear that. I don't know if you're familiar with Care Credit but we've used it and really like it. They give you 0% financing for a certain period of time (determined by the procedure, etc.) I'm not suggesting you take on a loan, but we like it because if it's $1,000+ we can float the balance for a few pay cycles and not feel like our emergency fund took a massive hit.

I have heard of it, thanks. Trying not to get too far ahead of things. My dentist said the X ray is inconclusive and there is a chance she is making a big deal about nothing. I'm really hoping that is the case.

 

[jen7233]

Our goals for this year were totally blown out of the water by the recent news we received. My husband got a big job offer, so we will be moving to San Diego. Yay! We are so excited. However, it means a lot of work! It is the first time either one of us has moved across state lines permanently. It's a federal job, so we still have a little while until the actual move comes along, but that's okay because I am OVERWHELMED! We need to sell our house (but first replace the roof). Luckily, between what we hope to get from selling our house, selling my husbands truck, and an awesome tax return we should arrive at our new location debt free for the most part!

The only thing left will likely be my $21,000 in student loans.

This opportunity also means that I may be able to go back to school to get my masters. San Diego definitely has a higher cost of living than little old Oregon, but I'm so stoked.

Oh, and what was my stipulation for moving so far away? Annual Passes of course! We will be getting those once we are all settled! At first DS8 was pretty upset about having to move, but when I told him how close we would be to Disneyland, he seemed to change his tune!

2019 was such a rough year for us, so it's an unspeakable relief that 2020 is starting out so promising!

Congratulations on his job and what sounds like a big move! I'd love that experience, well to me I'd love the climate! Not sure how the housing compares to your particular area in Oregon where you're coming from. But, in hopes that you'll find housing and a living situation that is both enjoyable and doable in your budget in SD. It's hard to move kids as they get older, so many more things to think through, and of course feelings. Hope it's a smooth transition on each of you!

 

[barkley]

Is January the longest year of the year EVERY year? Or is it just me?

Huge win: I got my husband listening to the Dave Ramsey podcast and FINALLY convinced him to try zero sum budgeting!! When he said we should try it I couldn't help but chuckle... "what an original and never before suggested idea!"

Our goals for this year were totally blown out of the water by the recent news we received. My husband got a big job offer, so we will be moving to San Diego. Yay! We are so excited. However, it means a lot of work! It is the first time either one of us has moved across state lines permanently. It's a federal job, so we still have a little while until the actual move comes along, but that's okay because I am OVERWHELMED! We need to sell our house (but first replace the roof). Luckily, between what we hope to get from selling our house, selling my husbands truck, and an awesome tax return we should arrive at our new location debt free for the most part!

The only thing left will likely be my $21,000 in student loans.

This opportunity also means that I may be able to go back to school to get my masters. San Diego definitely has a higher cost of living than little old Oregon, but I'm so stoked.

Oh, and what was my stipulation for moving so far away? Annual Passes of course! We will be getting those once we are all settled! At first DS8 was pretty upset about having to move, but when I told him how close we would be to Disneyland, he seemed to change his tune!

2019 was such a rough year for us, so it's an unspeakable relief that 2020 is starting out so promising!

congrats!

as a former californian i'll pass on a few suggestions to keep in mind budget wise for the move-

for your regular budget plan on-

state income taxes in addition to federal that are kind of different from oregon's -i think it's due to there being some payroll taxes there you don't pay in oregon,

sales tax for purchases (though some things like groceries are exempt),

budget more for your car registrations (sadly-much more),

really research homeowner's insurance for any area you consider moving to-the rates vary greatly even within individual cities, along the same lines-check areas to see if they have independent municipal utility providers vs. pg&e b/c that whole situation is crazy between rolling blackouts and crazy high rates,

for your masters-it only takes 366 days to become a resident for tuition purposes so you can save a TON if you time it right, and depending on what your masters will be in you may find a wealth of employers who will hire you to get it and pay for it in addition to giving you a stipend (the bulk of the newer msw's in the dshs i retired from got their grad degrees this way, and a friend who works in speech therapy sez there's similar stuff going on with that type of grad degree these days).

best of luck (i don't envy the packing-been there done that)!

 

[imbatman]

Let me guess, you paid off your mortgage early rather than investing the extra in the stock market, am I right?

budget more for your car registrations (sadly-much more),

**NOTE** I just paid $206 PLUS smog for my 2012 Chevy Equinox in registration, $27 more than last year.

 

[Scoobie]

There is a thread called "Should I pay off my 401(k) loan early" where people had some hard things to say to the OP. Some were a bit too harsh, & while I get their point of view, may have been giving their opinions in a less than constructive way. Some of those people have apparently been reading this thread, as there were comments (general) as to the way people think here. I believe a couple may have even commented here. What I would like to put out there to everyone is this: Debt is not evil. Everyone has a different threshold for the amount of debt they can have before it begins to stress them out. Everyone has different reasons for being in debt, and different situations going on in their lives that will effect how they pay off their debt. Some will suffer to get it paid off quickly, while others are willing to pay a little more in interest to pay it off at a steady pace while able to do other things they (and their family) enjoy. There is no wrong way, only many opinions. I feel like this thread embraces the person & gives us a place to support one another in those endeavors, whatever that may be. Other threads are for more "slam dunking" goals, for slam dunk kind of people. So, when they come here after reading those other types of threads they immediately assume we are all just giving each other excuses to stay in debt and making each other feel better about it. That is their opinion, & maybe because they don't "get" the way people in this thread choose to live, they simply cannot understand it. That's fine, I'd just like comments here to be as uplifting & positive as they always have - there are other threads for those with differing opinions. You are all wonderful and worthy of respect - thank you to everyone on here that have been supportive of others. Have a great week everyone!

 

[Scoobie]

Okay, so after playing with my buckets, and setting it to paying off one goal at a time, I realized that made me feel uneasy, so I switched it back

This is me!! I lay out plans, and then see how I feel about them. If I start to feel uneasy, I know that is not the answer. I rearrange my plans until I feel good about them - I basically go with my gut. That's how we've been getting out of debt this whole time, it's nice to see someone else put it into words. When we feel good about our plans, I think we have a better chance of continuing them and succeeding. Go with your gut!!

 

[DLgal]

Tooth update: I'm fine. No problem was uncovered with the CT and tests the endodontist performed. He suspects it was just a random shadow on the x ray. Whew! Still out $185, but what are you gonna do?

 

[jen7233]

There is a thread called "Should I pay off my 401(k) loan early" where people had some hard things to say to the OP. Some were a bit too harsh, & while I get their point of view, may have been giving their opinions in a less than constructive way. Some of those people have apparently been reading this thread, as there were comments (general) as to the way people think here. I believe a couple may have even commented here. What I would like to put out there to everyone is this: Debt is not evil. Everyone has a different threshold for the amount of debt they can have before it begins to stress them out. Everyone has different reasons for being in debt, and different situations going on in their lives that will effect how they pay off their debt. Some will suffer to get it paid off quickly, while others are willing to pay a little more in interest to pay it off at a steady pace while able to do other things they (and their family) enjoy. There is no wrong way, only many opinions. I feel like this thread embraces the person & gives us a place to support one another in those endeavors, whatever that may be. Other threads are for more "slam dunking" goals, for slam dunk kind of people. So, when they come here after reading those other types of threads they immediately assume we are all just giving each other excuses to stay in debt and making each other feel better about it. That is their opinion, & maybe because they don't "get" the way people in this thread choose to live, they simply cannot understand it. That's fine, I'd just like comments here to be as uplifting & positive as they always have - there are other threads for those with differing opinions. You are all wonderful and worthy of respect - thank you to everyone on here that have been supportive of others. Have a great week everyone!

Yes, there definitely are comments here and there on the boards, I've seen them and in the thread you mentioned, and another about leveraging debt to go on vacation/American spending habits, it was the how do people my age afford Disney thread. But, no matter to me. My opinion on comments that mention the debt dumpers thread are that sure, some may be fair, some are generalizations, and that some are just big exaggerations. I think the title debt dumpers implies wanting help maybe. And, DR is the cornerstone, so people look at that, and then it's a Disney board, and well debt reduction and travel is antithetical to that particular philosophy. But, so is card churning, and one could potentially be a churner for Disney travel AND have a car loan or a student loan, people don't know other's finance picture, though some like to assume they see the whole picture. But I think it's the thread title of debt dumping.

 

[arlinar]

A bit late to the Budget Board this year. I had such a busy life the last three years. Here are my goals

2020 Financial Goals:

• Make Credit Score Better
• Pay Bills on time
• Save $3000 to move to a new place
• Start saving towards Physician Assistant school (Still a few years away)
• Save for a 2021 Disney Trip
• Budget for Fertility Treatments
• Pay down New Car as much as possible

2020 Personal Goals:

• Go to the Gym more
• Do great in school
• Start Therapy to help with Fertility Treatment Stress
• Get a Part time job doing what I love
• Stick to a budget

Last year I hired a lawyer who helped my credit score go up. Unfortunately, when we went to get a new car last month, I'm not lying when I said the dealer ran our credit almost 40 times. I wanted to shake them. Hopefully, in the future we will have financing ready ahead of time.

What makes me furious is our brand new car is already in the shop for almost a week. I kick myself for not taking it to a mechanic for a pre-buying inspection cause something is wrong with the car already. Luckily we purchased a nice warranty that we hoped we didn't have to use already.

 

[McMealue18]

Wow! All of your comments give me a lot of anxiety! I've lived in Oregon the majority of my life (spent some time living abroad in college) and we are one of the most heavily taxed states, so I'm hoping that will help with some of the sticker shock! Paying off most of our debt frees up over $1000 in income each month, so I feel confident that we will find something and make it work. DH was stationed in SD when he was in the Navy, so he is much more familiar with the area than I am. I'm doing my best to stay positive and see it as good thing because I tend to overthink and stress out those around me! We still have a few months until we are down there, but we have now started to orient our financial goals toward student loan pay off and retirement/ savings building! Our long term plan is to end up back in the PNW at some point, so we are also starting to save for building a house when that comes.

Lots to think about, and stress about, but actively CHOOSING to stay positive!

 

[jen7233]

A bit late to the Budget Board this year. I had such a busy life the last three years. Here are my goals

2020 Financial Goals:

• Make Credit Score Better
• Pay Bills on time
• Save $3000 to move to a new place
• Start saving towards Physician Assistant school (Still a few years away)
• Save for a 2021 Disney Trip
• Budget for Fertility Treatments
• Pay down New Car as much as possible

2020 Personal Goals:

• Go to the Gym more
• Do great in school
• Start Therapy to help with Fertility Treatment Stress
• Get a Part time job doing what I love
• Stick to a budget

Last year I hired a lawyer who helped my credit score go up. Unfortunately, when we went to get a new car last month, I'm not lying when I said the dealer ran our credit almost 40 times. I wanted to shake them. Hopefully, in the future we will have financing ready ahead of time.

What makes me furious is our brand new car is already in the shop for almost a week. I kick myself for not taking it to a mechanic for a pre-buying inspection cause something is wrong with the car already. Luckily we purchased a nice warranty that we hoped we didn't have to use already.

Late is fine, it's not really that late in the year yet! And goals can pop up any time, even change.

Can't believe your dealer ran continuous credit checks?! That doesn't even make sense, I'd sure want them to explain that to me. If your car was brand new, it should have a warranty, was it a new to you car? I have to take mine back in, waiting for a part on order to replace something in yes, a newer car under warranty, not thrilled with that but hopefully it'll be fixed and done with whenever parts get in. (Thus wishing I had just went with the Honda Pilot today!) I'm bad with buyer's regret, that's very typical of me on just about any purchase, I always question myself after, was it the best deal, should I have done business there or elsewhere, or if I got something blue I'd wonder why I didn't just get the green one!

 

[Scoobie]

Wow! All of your comments give me a lot of anxiety! I've lived in Oregon the majority of my life (spent some time living abroad in college) and we are one of the most heavily taxed states, so I'm hoping that will help with some of the sticker shock! Paying off most of our debt frees up over $1000 in income each month, so I feel confident that we will find something and make it work. DH was stationed in SD when he was in the Navy, so he is much more familiar with the area than I am. I'm doing my best to stay positive and see it as good thing because I tend to overthink and stress out those around me! We still have a few months until we are down there, but we have now started to orient our financial goals toward student loan pay off and retirement/ savings building! Our long term plan is to end up back in the PNW at some point, so we are also starting to save for building a house when that comes.

Lots to think about, and stress about, but actively CHOOSING to stay positive!

Since you have to do the move anyway, and your DH is getting a great promotion - look at it as an adventure! Sure, moving can be stressful, anyway, but like you said: you have a plan in place, you'll be closer to Disney, and your little will have a whole new world open to them as San Diego is full of fun and educational things to do. That is a lot of fun exploring for your family! I'm excited for you to open a new chapter, and think of all the museums and beach days, along with other theme parks to try out. Will it be a change? Yes. Will the sky fall? Probably not. There are worse places he could've been transferred to, and your close enough to PNW to visit for a fix if you need it - we'll keep a light on for you (I live in Wa.).

 

[arlinar]

Late is fine, it's not really that late in the year yet! And goals can pop up any time, even change.

Can't believe your dealer ran continuous credit checks?! That doesn't even make sense, I'd sure want them to explain that to me. If your car was brand new, it should have a warranty, was it a new to you car? I have to take mine back in, waiting for a part on order to replace something in yes, a newer car under warranty, not thrilled with that but hopefully it'll be fixed and done with whenever parts get in. (Thus wishing I had just went with the Honda Pilot today!) I'm bad with buyer's regret, that's very typical of me on just about any purchase, I always question myself after, was it the best deal, should I have done business there or elsewhere, or if I got something blue I'd wonder why I didn't just get the green one!

It is a new to me car. It was a former rental 2018 Altima. Has less then 40,000 miles on it. I was driving to work and my car started going 5mph and then it launched me like I was riding Space Mountain. I took it to autozone to run the check engine light and then took it to the dealership who told me to go to the Nissan dealership. The Nissan dealership kept it for a few hours before saying to take it back to the dealership we bought it at cause something is very wrong and its not covered by their manufacturer warranty. We took it back to the dealership Monday and we are waiting for them to fly out a mechanic from the warranty company to take a look at it.

 

[kymom99]

It is a new to me car. It was a former rental 2018 Altima. Has less then 40,000 miles on it. I was driving to work and my car started going 5mph and then it launched me like I was riding Space Mountain. I took it to autozone to run the check engine light and then took it to the dealership who told me to go to the Nissan dealership. The Nissan dealership kept it for a few hours before saying to take it back to the dealership we bought it at cause something is very wrong and its not covered by their manufacturer warranty. We took it back to the dealership Monday and we are waiting for them to fly out a mechanic from the warranty company to take a look at it.

That stinks. I have a 2012 Altima and it has130k miles on it. I loved it. The only problem I had was I had to replace the alternator. It’s just now starting to leak a little oil. It’s our extra car now. I hope your car is an easy fix. Maybe a computer glitch.

 

[Deffenm]

Posting updates to my goals! I am so close to having last debt, besides house, paid for. I get a bonus in March and we actually get back about $400 combined from taxes (Fed, State, and City) so the car will be paid for in March and hopefully a good chunk will be added savings.

2020 Financial Goals:
Pay off Car: $9,735 - Only $3800 left!! Should be paid off in March.
Savings: $10k - $1,400
Pay off cruise (due March 20): $2,305 - DONE
Pay for Disney trip in Nov. to complete Wine and Dine Challenge: $3,000 - I have decided not to do this as DH and I really want to purchase a used Class B RV to travel in so this money is now being allocated to RV Fund.
New Goal RV Fund - $ Amount TBD for 2020

2020 Personal Goals:
Complete 1/2 marathon in April for proof of time for Wine and Dine - No longer doing
Lose 22 pounds
Complete Wine and Dine Challenge (10k and Half Marathon) - No longer doing
Complete riding the GAP with hubby - Scheduled for Aug!

 

[imbatman]

we are one of the most heavily taxed states, so I'm hoping that will help with some of the sticker shock

You may think Oregon is heavily taxed but I think we have ya beat. Not bragging, just ugh...

Our long term plan is to end up back in the PNW

If you own property, you may think about keeping it. The real estate prices up there have gone CRAZY in the last 4 years. My sister lives in Mac, so we watched the uphill march of sales. I'd love to own a slice of Lincoln City, myself.

 

[ruadisneyfan2]

Wow! All of your comments give me a lot of anxiety! I've lived in Oregon the majority of my life (spent some time living abroad in college) and we are one of the most heavily taxed states, so I'm hoping that will help with some of the sticker shock! Paying off most of our debt frees up over $1000 in income each month, so I feel confident that we will find something and make it work. DH was stationed in SD when he was in the Navy, so he is much more familiar with the area than I am. I'm doing my best to stay positive and see it as good thing because I tend to overthink and stress out those around me! We still have a few months until we are down there, but we have now started to orient our financial goals toward student loan pay off and retirement/ savings building! Our long term plan is to end up back in the PNW at some point, so we are also starting to save for building a house when that comes.

Lots to think about, and stress about, but actively CHOOSING to stay positive!

AFAIK, the only other state taxed as heavily as CA is NY. Our property taxes in NJ are crazy high but when I hear so many extra taxes in CA makes me woozy for those people. Salaries are probably higher to compensate so maybe it all works out in the end.

It's the opposite situation compared to when we looked into moving to FL before we had kids and their salaries were like half of what we make here. I was in my 20s and just getting a handle on learning to budget but I took one look at that and it scared me away. Maybe that's why people wait until retirement to move there so local income doesn't affect people as much.

 

[dayvewc]

That stinks. I have a 2012 Altima and it has130k miles on it. I loved it. The only problem I had was I had to replace the alternator. It’s just now starting to leak a little oil. It’s our extra car now. I hope your car is an easy fix. Maybe a computer glitch.

My takeaway here is that I drive WAY TOO MUCH!!! I bought a brand new car in 2016, it had 14 miles on it at the time. It currently has 132k miles on it. Pretty sure I'll drive her til she drops, but I put on a lot of miles.

 

[kymom99]

My takeaway here is that I drive WAY TOO MUCH!!! I bought a brand new car in 2016, it had 14 miles on it at the time. It currently has 132k miles on it. Pretty sure I'll drive her til she drops, but I put on a lot of miles.

Wow! I thought I drove a lot!

 

[imbatman]

AFAIK, the only other state taxed as heavily as CA is NY. Our property taxes in NJ are crazy high but when I hear so many extra taxes in CA makes me woozy for those people. Salaries are probably higher to compensate so maybe it all works out in the end.

Depends on where in the state you live. A friend just sold her 3 bedroom, 1 bath house (half of a duplex) that was built in 1954 in the Bay Area for $754k in days. In my area, that'll buy a mansion with acreage. The more heavily populated areas always direct the state, and any state for that matter.

But in budget news? Hurray to me because I miscalculated my car payments and IT'S PAID OFF!!! A month early AND the auto pay overpaid it, so I'll be getting about $150 back!

Before I roll that money into the payments, I need to have tie rods on DH's truck repaired and finish buying the flooring for the house. So in two months, things will roll.

And in two-ish months, I'll be paid for a writing project and hopefully start to earn money on my book!