Debt Dumpers 2024

[barkley]

For quite a while there was a limit of 20 years, at least in my province. Years and years ago you could get 30 years, but it wasn't something they encouraged. Now they're bringing back 30 years mortgages, but only for very specific situations.

thanks-very interesting. i've wondered about how it works there. a couple of years ago i watched some home reno show that was based in canada and it seemed that the bulk of the homeowners had bought within a few years prior to production but had NO CLUE that entire sections of their homes were entirely unpremitted add on's done by prior owners-whole rooms, entire basements and attic bedrooms-i could'nt figure out how it had'nt been discovered during the mortgage application process (or how some insanely dangerous electrical and fully failed plumbing systems passed what is a standard inspection required for a mortgage here). sounds like there are lots of differences in the process/terms here vs. there.

 

[goofytinkerbell]

thanks-very interesting. i've wondered about how it works there. a couple of years ago i watched some home reno show that was based in canada and it seemed that the bulk of the homeowners had bought within a few years prior to production but had NO CLUE that entire sections of their homes were entirely unpremitted add on's done by prior owners-whole rooms, entire basements and attic bedrooms-i could'nt figure out how it had'nt been discovered during the mortgage application process (or how some insanely dangerous electrical and fully failed plumbing systems passed what is a standard inspection required for a mortgage here). sounds like there are lots of differences in the process/terms here vs. there.

We actually don't require inspections here to get a mortgage. I'm sure there's probably something if you're purchasing a new home, but there's nothing for an existing one. Lots of people get them just for their own information, but they can only do a visual inspection with what's accessible (no opening up walls, for example) and my understanding is that there's not a lot of industry regulation. In our area most of them aren't very good, and there's no repercussions if they miss something, even if it's a major something. In places where a lot of the markets were very hot the last couple years, people were buying homes without even seeing them. Banks care more about your ability to pay than anything else, and they want to make sure there are no liens against the property.

I wouldn't actually believe much of anything you see in those shows. I know someone whose friends were on one, and it was all made up and scripted. The house they "bought" on the show actually belonged to someone else they knew, as did the others they "looked at". None of those houses were even for sale, and in reality they'd purchased in a different location entirely and were already living in their new home before filming started. Production told them what to say, how to appear to react to things, the works. They had to cut out a whole bunch of scenes with their young daughter, who was very confused and asking why they were pretending to buy Bob's house, or whatever the name was

 

[ruadisneyfan2]

Thanks. I bought the car 18 months ago, and it had 11k miles on it (it's a 2016 Fusion). They told me when I bought it that they had just put brand new tires on it. That was 20k miles ago as I'm not up to 32k. When I took it in, the gentleman helping me looked at them and said the type tires that were put on were the type they use on EVs and only get about 20k-30k miles. Not sure why they'd put such a soft tire that only gets 20k miles on a car when you buy it used, but I don't have a choice.

Now we turn our focus to my wife's car and a couple of issues. She's got an oil leak, we believe, plus she's going to need new tires soon. So that'll be coming in the next couple of weeks. Will probably have to go get a loan for those 2 things as these tires wiped our day to day account out. So it's going to be even more tight for the next 2-3 weeks until our mid-May checks. We're going to try and stretch it until then to get the 2 things done to her car.

Are you wife's tires that urgent that you need to take a loan for them? Do they pass the penny test? Is it something that can be delayed a month or 2?

I needed new front tires for months before I finally got around to it. They weren't bald but worn enough that I knew it needed to be done. They barely passed the penny test.

The annoying part is that way back (about a year ago) I tried to have my tires rotated at one of those drive thru oil change places and they offered to rotate my tires and I agreed. They couldn't get the lug nuts off and gave me some excuse about Lincolns being notorious for using lug nuts with some special coating that makes them difficult to remove eventually. I thought they were BSing me and told them to skip it.
When I got home I googled it and sure enough they were right. So then I really wanted to change out the lug nuts too. That is crazy to make it so hard to remove tires that even mechanics struggle. If I ever have to call AAA for a flat tire, I don't want them to have to tow my car. It should be an easy fix.

Anyway, I finally had the time to deal with it in January when I had to take a week off work to care for my dad while my niece (his caregiver) was on vacation. I knew snow would be coming eventually and wanted good traction for when it did.
In my situation, I only drive 2.5 miles to a commuter train to take to work so I don't put a lot of miles on my car. Delaying a few months means a few hundred miles later. Some people drive that much in week or 2.

 

[Tygerlilly]

I don't know if I mentioned it before, but I got accepted into the big 3 day summer fest my city does Memorial weekend. I'm in full blown panic mode trying to get stock built up for my little side hustle. I've spent some money this week getting things I need to make a million pounds of dyed rice and organize all the things that go into the kits.

I've heard from multiple people that this event can be a huge money maker, so I'm crossing my fingers for a good result. Realistically, I just want to make back my booth fee ($125)

 

[WDW_fan_in_TX]

I took mine to a local guy who does oil changes. I also asked them to rotate the tires, and they said they couldn't because they were so bald. They told me I shouldn't be driving on them (told me I didn't even need to drive home), and I should buy new ones that day. So I did. Haven't heard of the penny test. Just see if they're as tall as a penny? Or lay the penny down and see if there's any kind of gap where the tread should be (I'm guessing that, and if there's not a gap of any kind, then it's time to change)?

Are you wife's tires that urgent that you need to take a loan for them? Do they pass the penny test? Is it something that can be delayed a month or 2?

I needed new front tires for months before I finally got around to it. They weren't bald but worn enough that I knew it needed to be done. They barely passed the penny test.

The annoying part is that way back (about a year ago) I tried to have my tires rotated at one of those drive thru oil change places and they offered to rotate my tires and I agreed. They couldn't get the lug nuts off and gave me some excuse about Lincolns being notorious for using lug nuts with some special coating that makes them difficult to remove eventually. I thought they were BSing me and told them to skip it.
When I got home I googled it and sure enough they were right. So then I really wanted to change out the lug nuts too. That is crazy to make it so hard to remove tires that even mechanics struggle. If I ever have to call AAA for a flat tire, I don't want them to have to tow my car. It should be an easy fix.

Anyway, I finally had the time to deal with it in January when I had to take a week off work to care for my dad while my niece (his caregiver) was on vacation. I knew snow would be coming eventually and wanted good traction for when it did.
In my situation, I only drive 2.5 miles to a commuter train to take to work so I don't put a lot of miles on my car. Delaying a few months means a few hundred miles later. Some people drive that much in week or 2.

 

[focusondisney]

Haven't heard of the penny test. Just see if they're as tall as a penny? Or lay the penny down and see if there's any kind of gap where the tread should be (I'm guessing that, and if there's not a gap of any kind, then it's time to change)?

https://www.firestonecompleteautocare.com/blog/tires/how-to-check-tire-tread-depth-with-penny/#

 

[ruadisneyfan2]

https://www.firestonecompleteautocare.com/blog/tires/how-to-check-tire-tread-depth-with-penny/#

Thank you. This is much more informative that what I would have explained. My dad taught me this as a teenager and dh has referenced it before so I assumed most adults know this. Maybe it's a regional thing or maybe because both our families full of various tradesmen.
I should not assume.

 

[bababear_50]

April is always my *Car* month.

CAA Canadian Auto Association Fee yearly charge
6 month Oil and filter change
Off with the Winter tires and on with the All season ones
Car Spa Day,,, yes I know I could do it but for $49.00 it is my early Birthday present to myself

Now if I could just hold my tongue and not engage Ex hubby in an argument I'd get a few of these done for free,,, he's a Auto Mechanic.
But alas I just blasted him a few weeks ago so I'm on the hook for everything. Lol

 

[ruadisneyfan2]

Car Spa Day,,,
View attachment 853805

I love this phrase.

 

[Cynt]

April Update
3 paid off cars in and out of mechanic shop lead us to purchase a new reliable vehicle for my 100 mile round trip commute 3 days a week. We are the couple that loathe monthly car notes and keep our cars until the wheels fall off and at least 200K miles. We drive old cars and spend our money on VACAYS! Anywhoo love our new car. We put a substantial down pymt on it so time to pay it off lickety split. Can you say double the payments each month?

And then a small kitchen upgrade of having our cabinets painted has turned into a mini kitchen upgrade...cabinet handles, pendant lights, and we just stopped and said that's enough for this year. Counter tops and backsplash can wait until 2025. Geez! Why are home improvements so expensive !


Financial Goals
1. Payoff house - COMPLETE
2. Double monthly savings contribution - 0/8
3. Save Property taxes and home insurance - 0/8
4. Double car pymt - 1st pymt May


Personal Goal
1. Transition to a low carb and low sugar lifestyle in order to lower 6.5 A1C. First test is the end of March. 2nd test October.
A1C Down to 5.5. YIPPEE!

2. Walk 3 miles 3 days a week. Add a day each quarter. April 0/4 but I did walk twice.

I have some work to do. Hoping for a better May.

 

[disney-inspired]

I had a big purchase returned and so I was able to reduce my original credit card balance. Yay!

 

[pblack]

Our August/September cruise balance is due beginning of June, but I decided to just go ahead and purchase the discounted giftcards through AARP now to pay it off. I've saved $300 by buying these discounted gift cards. I'll probably buy 1 or 2 more to use onboard in September, but since I don't need them right now i'll go ahead and wait to purchase them. Paying off this cruise has pretty much depleted by vacation savings, but I guess that's what it's there for. (Some of this will actually be put back in our vacation savings with my DH's 3rd paycheck in May.)

 

[Tygerlilly]

Bought a new car today. I'm pretty in love with it. As we were taking the problem van down to trade in the check engine light came on. I'm so glad we dumped it back on them. Now, hopefully we don't have any issues with this one.

 

[disney-inspired]

Bought a new car today. I'm pretty in love with it. As we were taking the problem van down to trade in the check engine light came on. I'm so glad we dumped it back on them. Now, hopefully we don't have any issues with this one.

How fun!
I'm looking to get a new car toward the end of year as I want to put a sizeable down payment. It's going to be a fun car for me. I don't commute anymore so I'm not worried about gas mileage.

 

[Bellex917]

SO bummed. We were looking to be debt free completely in May, but it may not happen bc we just had a $600 car repair. We can cash flow it, that's fine, the issue is just that now when we get the mid-month paychecks, which is what we use for big pay offs, IDK that we will have enough to fully pay off the car- but it'll be close.

 

[disney-inspired]

Woah, we're halfway there. Woah-oh, livin' on a prayer.

 

[pblack]

End of April update:

2024 Financial Goals:

• Add at least $2000 to my main emergency savings on top of my auto contributions - No addition this paycheck, currently at $100/$2000
• Increase my contributions to my other savings goals by at least $25/each pay period - This has now been completed.
• Look into a living will/trust (We have friends that keep telling us to do this and with everything going on in my life at the moment, I feel like I should actually look into this more.) - I'm going to go ahead and mark this one as completed. My dad signs paperwork this week. While I still want to get it done for my DH and I, I don't think it will happen this year.
• **New goal** Get our home equity loan down to $20k (currently at ~$26.5k) - No update on this yet as my next payment won't be till mid-month.

2024 Personal Goals:

• Exercise at least 3 times a week for at least 30 minutes - This has definitely not gone well over the last month. The last 2 weeks i've been dealing with a cough that won't go away, then what i'm assuming was a cold, and allergies (probably) on top of it all. I'm just now starting to feel way better. Hope to continue with this by end of the week.
• Travel as much as possible - We'll be leaving on our first cruise of the year at the end of May and I can't wait!
• Replace the patio cover in our backyard - No progress.
• Finally do something with our side yard - not sure exactly what at the moment - No progress.

May signals the beginning of a very busy early "summer" for us. I have things booked every weekend from now till the end of the month and then from mid-June to mid-July and it starts right back up again in August. Hope everyone has made some progress towards their goals!

 

[danielshooley]

Starting the Debt Dumpers 2024 thread sounds like a good plan. It's always inspiring to see how everyone's doing and what they're aiming for in the new year. Looking forward to sharing my goals and cheering on others!

 

[pblack]

Starting the Debt Dumpers 2024 thread sounds like a good plan. It's always inspiring to see how everyone's doing and what they're aiming for in the new year. Looking forward to sharing my goals and cheering on others!

 

[CinderEmma94]

End of April update!

This month was crazy, I celebrated my 30th birthday and my family came out here (we live across the country from them) to surprise me (my husband obviously knew) but I am so behind on everything because I have been hosting our guests. I am so happy to do it and love that they are here, it is just a little rough on my ADHD brain when my schedule/routine is thrown off. My birthday was so fun, not only did my family surprise me but my husband surprised me with a dinner at Bull & Bear at the Waldorf Astoria Orlando. I have wanted to go there for years, but it hasn't been possible until now.

Financial:
1. Pay off card #1 (starting balance $11,600) Current balance: $7,600
2. Pay off card #2 (starting balance $6,500) Current balance: $5,689 (went up, waiting on reimbursement for husband's work travel to come through an then it will be paid down)
3. Grow emergency fund to $15,000 (currently at $7,444) Paused, debt is taking priority right now.

Personal:
1. 30 minute workout at least 5 days/week
Still on track! I completed my second 10k of the year this month (runDisney Springtime Surprise weekend) and my time was exactly the same as it was at Princess in February, but my recovery was night and day SO much easier this time around. I am definitely stronger and the hard work is paying off! I am taking a break from 10ks until Marathon weekend in January, but I am registered for the virtual summer series 5ks and the 5k at Wine and Dine.

2. Read 100 books
Currently at 169 books for the year!