debt debs

Personal Debt Wrangler – Had my money head in the sand – but no more!


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Debtity-do-da! – Debt Repayment Plans

debt-repayment-plans

We’re #1!!

Our debt repayment is now listed in Money Smart Guides Debt Payoff All Stars and we show as in #2 position, but I will advise Jon Dulin after this post to move us into #1 spot, baby!  Yep, we’ve paid $160K in 2.5 years!! :-D  Go check out his list and if you’re on a debt repayment journey you may want to add your numbers to the list.  Nothing like misery loves company, I always say!

So let’s take a look at the numbers since I’m actually on time with my update to our Debt Repayment Plans.

debt-update

click to enlarge

I’m very happy with the consistent progress.  $48.6K paid so far this year – on track to pay my target of $60K and there’s a good chance we will exceed this.  Whether we meet the stretch target of $65K is looking like a possibility, but I don’t want to count my chickens as there’s a few unknowns which I’ll get to in a bit.

Debt Repayment Plans ~ Progress by Type of Debtdebt-repayment-plan

  • Timewise we are 41.3% through our debt repayment journey targeted to end May 18, 2018.  Our debt is 40.7% paid.  So technically we are 0.6% behind but so close!
  • This means our debt remaining is 59.3%, so we are below 60% remaining of our original total debt at 2.5 years into our debt repayment plan.
  • At right is the % paid to date by type of debt.

e-fund-20141004

Our Trusted e-fund

Steady eddy is fine by me, especially with how the year started out. This brings me to our forecast for September. Not sure if it’s because of back-to-school or what, but The Irishman’s income for October will be below our minimum goal of $2,400 / month.  He’s only made $2,200 in September to be paid in October.  He’s been quite busy the last few days so hoping it’s just a temporary blip. Of course, this is why I’m building up my emergency cash fund again.

Plan is to get it to $15,000, because technically it’s not only our emergency fund but also our property taxes fund which are approximately $5,800 and have to be paid in two installments in March and June.

Anyways, I increased it by $2K in September, on top of paying off $5.6K of debt above, so ya, hash-tag winning!!

Plan is to do the same in October but that’s not looking so promising.  We have $1,200 bill for The Irishman’s professional fees and with only minimum income, it’s going to be difficult.  Meh, I’m not going to get worked up about it.  It could be worse.

debs-devotions - MediumDebs’ Devotions #3

Thanks so much to the following blogs for linking my recent posts:  Dan @ Our Big Fat Wallet and Travis @ Enemy of Debt featured my post Credit or Cash?  Pick Your Poison in their weekly round-ups.  Travis is a big fan of cash, as are many of my blogger friends.  However, I also have many blogger friends that endorse credit, like me, mainly for the rewards points but also for easier expense tracking.

In retrospect, I wish I had conducted a poll on that post, but better late than never, I have one for you here folks.  Just for your info, I did a quick tally based on the comments left on that post.  If anyone mentioned that they use cash or debit, even partially (except for really small amounts of cash) I put them on the CASH side, and all others who use Credit and were big on paying of monthly (a must!) and getting rewards I put on the CREDIT side.  Totals came to 20 for CREDIT and 22 for CASH.  So that’s a 48% / 52% split.  Let’s see how the poll comes out.  Even if you already commented last time, please vote in the poll again.  Merci.

Last time I did a poll, I didn’t get a lot of responses, but that was in my early blogging days.  I kind of like polls, to be perfectly honest, so hopefully I can do more on here as inspiration strikes me.

Some favourite posts that resonated with me or were helpful to me:

Stop Dehumanizing The Poor, Homeless from Sam @ Frugaling.  I get overwhelmed when I think about the suffering in the world.  But then I think, I’m no good to anyone, if I let this feeling overtake my emotions.  I do what I can, and I pray.  Please take a look at Sam’s insightful post.

10 Bare Necessity Blogging Tips from Steve @ Kapitalust.  Still learning myself and I like to help others, so I want to share this with fellow blogger readers.  Go check out Steve’s Fluff Piece also for some fantastic photos he took.  So beautiful!

You Don’t Know Jack (and Neither do I) from Laurie @ The Frugal Farmer.  Full of inspiration, Laurie tells us like it is. Incidentally, Laurie was the winner of the Plutus Award at FINCON for Best Green/Sustainability PF blog , worthy of mentioning, just sayin’.

Can I Retire Today? Yes, but I Won’t from Jean @ Nearly Retired.  Jean is finding her way to retirement, like me, so I find lots to think about in her posts and including her FREE Retirement Readiness Assessment which was very helpful.

Scheduling a Side Hustle from B @ Banishing Loans.  She works and full-time job, a part-time job and runs a blog.  Seriously, that is a lot of work and I’m always looking for tips on how to up my game so I can achieve this.  Not only that, but B has opened a second blog Miss on the Money.  Go check out her first official post there.

Society Makes It OK To Te Broke from Kim @ Eyes on the Dollar.  Kim has a perfect everyday example of how some people live, but maybe don’t need to.  Not saying all financial hardship is easy to solve, but with some effort, I would think that situations like this could be turned around.

BATB TV: Tips to Save Money from Tonya @ Budget and the Beach.  Oh how I laughed and laughed.  Seriously, who needs Cable TV when you’ve got great content right here on your lap!

Filed Under Life as We Know It

Monkey-Butt-DepartsOK, that’s a wrap.  I’m doing Brian’s 31 days of Writing this month and I’m not gonna lie, it ain’t easy.  I was doing okay until last night and fell asleep on my daughters couch as she was putting Monkey Butt to bed.  He’s gone for ten days so I’ll just have to come and stare at this picture taken last night just before supper.

Tweedledum-TweedledeeThis means we’ve got our two grand-dogs for the next 10 days or what I’ve dubbed “10 Days of Misery”.  LOL  We love dogs but these two are seriously high maintenance.  The wiener (let’s call her Tweedledee) has a back problem and has to be carried up and down stairs and has been diagnosed with renal (kidney) issues after a recent sickness.  The black rescue (Tweedledum) cannot be trusted with free reign of the house as he marks his territory.  One whines for food (and she’s off most stuff except special kidney food and green peppers) and the other whines for us to throw his toy.   They are pretty cute so all errant behaviours are quickly forgiven. Nama thinks they may have a bath and hair clipping in their near future if she get’s around to it.    October is our dog sitting month.  Next week we have the neighbour’s dog for a few days and we have another neighbour’s dog for 2+ weeks after the grand-dogs go home!  Go big or go home, so they say!

Would you consider joining the Debt All Stars List?  Did you vote in the Cash versus Credit poll?  Have you ever dog-sit before? 

Part of

Friday Jet Fuel #14


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Debt Do Run Run

The above was from 1963, I was four years old and The Irishman was eleven.  We just celebrated his 62nd on 9/11 this week.  Yes, fate has linked his birthday to that tragic day never to be forgotten.

So excited about our debt repayment process, I alluded that August was looking good and I’ve had a sneak peak at September and so far so good!  Our debt dropped $6.4K in August (and $3.6K so far in September – not shown).  I’m just shy of my timeline – I should be at 40% paid off towards our debt repayment date of May 18, 2018 but I’m at 39.3%.  I’m hoping I may be ahead of schedule for my September update.  We’ll see.

debt-update

click to enlarge

Buoyed with this consistent and solid performance, I’ve added a new debt repayment date counter in my sidebar.  It says I am three years to debt repayment, but it’s actually 3 years 8 months.  My stretch target is 3 years 3 months.  I did some calculations yesterday and a got a glimpse that maybe it was down to 3 years 5 months but immediately figured I made a mistake.  I’ll leave a little more time pass and recalculate again.  I don’t want to jinx us, and we still have to get through that dreaded winter where income may fall short again.

This time of year is generally better for us cash flow wise.  The additional payroll deductions that hit in the first part of the year are long gone.  To prepare for winter/spring lower income, I’m boosting up my e-fund/property taxes fund to $15K.  I’m currently at almost $9K.
debt-emergency-fund
Now for some exciting news!

Frugal FinCon Fiesta Party

debt-frugal-fincon-fiesta
So while I’m running away all my debt, and don’t make enough on my blog to cover my costs plus many other good reasons (check it out if you want a laugh), I’ve conspired with some of my fellow bloggers to do something fun while the rest of you are lollygagging* away in New Orleans.  Before I tell you what’s in it for the rest of us, let me tell you a bit more about FINCON.

  • It’s a conference for financial media – bloggers, journalists and freelance writers, financial advisors and coaches, podcasters and brand marketing experts.
  • There are workshops and speakers on beginner, intermediate and advanced topics to help communicators write better content, broadcast their message to larger audiences, learn to work with new media platforms.
  • It runs from Thu Sep 18 – Sat Sep 20 this year, 2014.
  • There’s a $99 virtual pass where you get lifetime access to all the keynotes and breakout sessions including videos, slides and MP3’s.
  • It costs $499 for the conference fee.  There were other passes available for advanced sessions etc. but they are now sold out.  Hot stuff!
  • You can’t bring your spouse into the sessions / parties unless they are a registered attendee (Guess they’re taking a nap!)
  • There are FinCon mobile apps at the iPhone store or the Google Play Store (Android).
  • The tweet tag is #FinCon14.
  • For more information visit the FinConExpo.com

*I needed to check the meaning of lollygag to make sure I was using it in the right context.

lollygag

verb

    1. To idle about; goof off: He has the summer free for play, swimming, berry picking, and general lallygagging/ when my nephew and his companion lollygagged back to my house (1862+)
    2. To kiss and caress; dally; make out, neck, trade spit (1868+)

I think maybe I am, he he, but no worries.  But I just wanna say that if there is any of item #2 above going on, can you at least wait for next year when I can go?

Okay, on to the details about the Frugal FinCon Fiesta Party.

  • It will run Sep 18 – 20 to coincide with FINCON and allow people time to visit other blogs (after all, most of us are working during the day, or taking a nap ;-) )
  • It will be an open linky party using the inlinkz tool.  You do not have to get an account. I have provided the code to insert into your blog post.**  This will display links with pictures to all of the other partyers on your post.  Here is an example from #FinSavSat.  If you do not have a self-hosted blog but use WordPress.com, it will show up as little frog like in this post (from when I used to be on WordPress.com) but will take you to the linked blogs.***
  • The purpose is to entertain questions from your readers like J. Money did in Ask J. Money Anything Day and Crystal did in Ask Crystal Anything Days.  Answer the questions in the blog post (like live blogging over a 3 day period, as time permits, of course).  Indicate in the comments when the question has been answered in the post.  If you choose to get the party started by posting some teaser questions and answers about random facts about yourself, then by all means go ahead.  This can be a great way to spawn future blog posts, if the answer is quite complex.
  • I also would like you to encourage non-blogger readers to say ‘hi’, even if they don’t ask a question at this party.
  • Let’s do some banter in the comments as well, not the usual commenter comments and blogger responds.  Let’s mix it up and comment to other’s comments for some $hits and giggles.
  • It will be super hot if you put a picture in the header of your post which you can select for the inlinkz. (or it will give you the option to choose other photos on your blog).  There are tons of great shots if you search on “Fiesta” in MorgueFile.com to give your post some pizazz!
  • I reserve the right to take down any spammy links or otherwise party-poopers who are not participating in the party with the spirit in which it was intended.
  • TWEET #FrugalFINCONFiesta and HAVE FUN!

** Write your introduction to your post and then click on this link to get the code to be inserted in the text (html view) at the end of your party post.  get the InLinkz code Note:  You will not see it in preview mode.  It needs to be posted live to show up.  If you prefer to test, edit an old post.

Link your own post up to the party by clicking on the little blue box that says “Add your link” at the bottom.

*** Special instructions on how to set this up on WordPress.com is linked here from inlinkz. (non self-hosted blogs)

So what do you have to say about the ‘hotness’ of my debt repayment?  Are you in for the Frugal FinCon Fiesta (Hotness) Party?  Any non-bloggers wanna give me a wink?  ;-)
#FrugalFinConFiesta

This post is part of Friday Jet Fuel #10 and

brokeGIRLrich


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I Just Paid Off my Cash Advance Credit Card

… and other stuff

But first

I am excited to be guest posting at Financial Samurai today.  Steps To Get Out Of MASSIVE Credit Card Debt Due To Lifestyle Inflation.

Steps To Get Out Of MASSIVE Credit Card Debt Due To Lifestyle Inflation – See more at: http://www.financialsamurai.com/steps-to-get-out-of-massive-credit-card-debt-thanks-to-lifestyle-inflation/#sthash.rlqueGIK.dpuf
Steps To Get Out Of MASSIVE Credit Card Debt Due To Lifestyle Inflation – See more at: http://www.financialsamurai.com/steps-to-get-out-of-massive-credit-card-debt-thanks-to-lifestyle-inflation/#sthash.rlqueGIK.dpuf
Steps To Get Out Of MASSIVE Credit Card Debt Due To Lifestyle Inflation – See more at: http://www.financialsamurai.com/steps-to-get-out-of-massive-credit-card-debt-thanks-to-lifestyle-inflation/#sthash.rlqueGIK.dpuf
Steps To Get Out Of MASSIVE Credit Card Debt Due To Lifestyle Inflation – See more at: http://www.financialsamurai.com/steps-to-get-out-of-massive-credit-card-debt-thanks-to-lifestyle-inflation/#sthash.rlqueGIK.dpuf

And second

I want to thank everyone who commented for their support on my last post Thoughts on Suicide which was incredibly difficult to write.  Actually I take that back, it was quite cathartic to write and was written very easily.  What I didn’t expect was the after effect.  I felt quite drained for a few days.  But that’s okay, it needed to be said.  It is very comforting to see the number of people who have written on this topic recently, not only from the sufferers perspective but from the caregivers perspective as well.  I know both sides of this coin, so I fully endorse these views.

One Year Blogiversary from Green Money Stream – Kay has shared that she recently has been dealing with depression and I want to support her in any way I can.

Why Do We Wait from Budget and the Beach – Tonya has written some wonderful prose that is well worth reading and heeding.  Thanks for sharing my post, too!

The Impact of Mental Illness and Suicide from The Money Pincher – her experience with her father’s death, full of regrets, laments and frustrations, keeping it real.

You Are Not Alone from The Pursuit of Riches – Debby’s been touched by this illness and has learned much compassion, something we can all use a little more of.

Being Grateful: Thirty-Ninth Edition from Journey to Saving – E.M. shares her dark ages and her journey to the light, and what a bright light she is in our PF world!

I was so inspired by some things said, I turned some quotes into picture tweets:

 

 

Thanks to Shannon for linking my post in her roundup: Blog Round-Up: Week of August 11, 2014

 

There is hope for all those who are suffering.  Keep trying and tell someone who can help you.  Do not suffer alone in fear of being a burden to your family or friends.  Give them a chance to help guide you.  If you don’t get the support you need, tell someone else (and forgive them, they may have their own burdens not yet known).  By all means draw on your support network, and part of that support network is you.

And finally third

I’m so late in getting my debt update from beginning of August done.  I was supposed to do this Sat and well, read above.  It’s going to plan which is great.  I don’t have my little graph updated but will do that next month.   So here are the numbers:

cash-advance-credit-card

click to enlarge

 

Time wise I am 39% through to our May 18, 2018 debt payoff date, but I am only 37.6% through the debt.  Not going to get all panicky about this yet.

Okay, so you are going to say what does this post at all have to do with Low Rate Cash Advance Credit Cards?  Well see the number under credit cards above for $6,014 above?  Well that was as of August 1, and included in that number was $2082.21 still owing on our 11 month 0.99% cash advance credit card for which we paid $24K against our mortgage and have been slowly paying off all year.   That is now paid off as of Friday!  Yay!  All of my angst about the winter months of low income and having to dip into our emergency fund are behind me (for now!).  So ya, whew!  All in a day in the life of a personal finance debt blogger.

Now you have a good week now, y’hear.


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Debt Update and MVP Blog Award

I’m a week late in giving my monthly debt progression update.  Something else was going on last Saturday.  Oh yeah, I was finalizing my migration to self-hosted wordpress and doing a live blog.   Such is life.

I was also planning on getting this post done last night, so I could get on with a bunch of chores I need to do around here today.  But alas, I fell into bed at around 9 p.m., unable to keep my eyes open.   There was not even a drop of wine consumed last night, so I can’t blame that and I can assure you that there was none consumed in the making of this post – maybe a cup of java (or three), but I mean, what are lazy Saturday mornings for?

Debt Decrease

I’m a little disappointed in my debt decrease from last month.  Not that we didn’t pay our debt as planned, but it was because our credit card took a jump due to car repairs.  Anyone else out there hate those blasted car repairs?

debt-impacted-by-car-repairsI mean we budget them and all, but it’s hard to forecast (for me), the timing.  In addition, I think we budget too low an amount because it always seems to come in higher.   Like so far this year we’ve spent $1,742 on car repairs for two vehicles, but I think most of it was on the truck and I have budgeted only $120 / month for vehicle maintenance.  Actually, I just checked and I had one transaction misclassified in MINT for a oil change on my car for $71.30 and the picture at the left was taken before I fixed it.  This month we spent $1,150.03 for front and rear brakes on the truck.  {big} ugh

debt-paydown-debtdebs Ya, so like we’re $1,000 in the hole and that translates directly into our debt numbers I’m going to show you next.

I only started this graph last month so the actuals and forecast are tracking exactly from Dec to Jun.  It’s hard to tell, but there is a slight difference between the forecasted debt and the actual debt.  That is why I added the data values onto the graph.

Look for more variability going forward (or not!) and if there is some I’d prefer it to be on the upside instead of the downside as shown, thank you very much!

You see, we should always be tracking to our debt repayment or better unless (a) The Irishman’s income is way lower than our minimum target or (b) we have unforeseen expenses like car repairs > budgeted.  If his income is better, then hopefully we can apply even more to debt repayment.  At least that’s the current philosophy.  OK, my philosophy.  OK, now don’t get all philosophical on me now.

Detailed Debt Figures

Ahem… on to the detailed figures.  Our debt decrease was only $3,200 since last month which is better than our abysmal Jan and Feb, but not as good as last three months.  If I add back the extra $1K+ for car repairs, we’re still only at $4,350, which annualized would be $52K, and short of our annual goal of $60K, which we have managed to achieve the first two years.  Year to date, The Irishman’s income is only $1,100 lower than last year, so I’m not quite sure what the explanation is for the lower debt repayment and it’s making me a little nervous.  Anyhoo, I’ll need to stew about  look into this a bit more.

I know these debt repayments are large compared to what some of you reading this may pay in a month, but I just want to say it’s all relative.  Anyone want to trade an opening debt position of $394K with me?  Anyone?  I don’t know why I feel the need to justify this every time I put these figures out here.  Clearly I need help, or more money, or both.

Debt-Debs-Debt- Details

Click to enlarge

I’ve added a little metric which I think is quite titillating (see how sad my life has become?), which is the % decrease in debt from our opening position in March 2012 as compared to the % of time that has passed until our debt freedom date – May 18, 2018.  May 2018 is what my avalanche/snowball debt calculators are telling me, and I revise these every few months to see if we are on track.  So far so good (crossing fingers and toes).  So I picked May 18 since it is year 2018 as an arbitrary debt freedom date.  Time (and money!) will tell if we can achieve this date or not.  To be perfectly candid, my stretch target is Dec 2017, but at this juncture that is looking really stretched!  So you can see that we are 36.5% paid off but we should be at 37%.  Missed it by that much!  Quoting Don Adams from GET SMART!    Time for a video.

Who reading is old enough to remember Get Smart? I couldn’t find one with him quoting that line, but the cone of silence has always been a favourite and is used in my everyday dialogue quite often so I thought it appropriate.

Anyways, compared to earlier months this year, we are doing pretty good for that metric. Last month was the best where we were only off by 0.4%.

Emergency Fund

Emergency-fundNeedless to say, I have not been able to put any additional towards our Emergency / Tax fund since last month.  That’s the other bad news.  However, on the positive side, I was able to pay our second installment of property taxes of $2,812.42 last month without taking anything out of this fund which is reserved for emergencies and property taxes.  I normally try to contribute $500/month to it.   So technically I’m $2,300 ahead in trying to get my E-fund up to a new target recently set due to the slow earnings months experienced in Q1.

Is there any metric or piece of info that I’m not telling showing that you want to know to complete the picture?

CNA Finance MVP Award

Debt Debs - Personal Finance MVP!
Before I go and get on with my chores, I must tell you that I’m tickled pick to be awarded the CNA Finance MVP of the Week award  by votes from readers over at CNA Finance Blog.  Josh has a series where he posts every Friday called “Why Bloggers Fail” and he explores different topics on this subject each week.  Based on feedback received, he awards a blog each week and yours truly was selected this week.  I am really humbled by all the nice things he had to say but especially thrilled that he captured the essence of what I do here perfectly.  I guess my communication skills aren’t so bad after all!  heh heh.  I really appreciate all the readers who voted for me as well.  Truly.

Thanks to the following blogs:

Carnival of Financial Camaraderie over at Counting My Pennies for  featuring one of my posts:  Couples Money Conversations You Want to Avoid.

Young Adult Money for Weekly Hits Roundup and Personal Finance Tips – Moving Blog from WordPress.com to Self-Hosted WordPress.org

Have an amazing weekend folks.  That’s a wrap.  debt debs, over and out.

My Pennies, My Thoughts
This post is part of Financially Savvy Saturdays
To join in the blog party, click on the picture above
Follow instructions on host blog
Tweet hashtag #FinSavSat
debtdebs.com-debt-graph


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Debt Deliberations

debtdebs.com-debt-graphI said I would do my debt updates on a regular basis to have good comparatives, so since it’s been a month since the last update, I aim to please!

Speaking of which, I wasn’t too pleased about the chart format that I’ve used in my debt updates so far.  I decided to change it up, but what with getting distracted analyzing the numbers, having 2 (only 2!) glasses of wine last night and spending time researching alternatives for front lawns (other than grass!), I’m still not sure if I like what I’ve got.  But anyhoo, here goes…. and I may exercise my women’s prerogative to change her mind later.

Debt Decline

The colourful graph above is based on the figures in the chart further below for actuals this year up to June, combined with a projected forecast for the remainder of the year. Since I just created this forecast by type of debt today, I don’t have any past forecasts, but I plan to chart the actual achievement against the above forecast, so I can see if we are on track for debt repayment.

We actually averaged just over $60K annual debt repayment for the two years ended March 2014, which was pretty awesome.  I wanted to compare how we are doing so far this year, and was wondering if we will be able to similarly, pay off $60K for this year.

On a fiscal year 2014 annual basis, my forecast shows us just shy of this at $56,871.   The next topic will give you a little clue as to why that is.  Still, it’s in the ballpark, so I’m not going to fret about it too much.  So we will push to meet the $60K and also set a stretch goal of $65K.  Now wouldn’t that be awesome?

Debt Increase

See the little dip up in March?  You almost missed it, didn’t you?  That is due to an extremely large credit card bill of $5K which included $3K for The Irishman’s annual insurance premium.  This, coupled with the fact that due to his lower than normal income in Q1, meant we could not pay as much debt off as planned.

But looks like we are back on track!  After only one week in June so far, he’s earned $900 which is only $300 short of his biweekly target of $1,200.  Any extra that he makes above the monthly minimum of $2,400 goes into debt repayment, over and above what we have already planned.  If that works in our favour, the future graphs that you see like the one above should show the forecasted debt repayment diverging from the actual debt repayment.  One can only hope!  And pray!  And work hard!!!

Spending impacts on Debt

I also watch our monthly spending against budget, as this is one of the key elements to be able to make debt repayment as planned.  I’m not going to do a budgeted expense analysis here today, but that could be something I cover in the future.

Bugs-expert-adviceI got  a lot of great feedback in my last post asking about what we should focus on next in our debt repayment journey.   Thank you all for your responses!  :-)    I really appreciate you taking the time to do so.  Sometimes, you just need an outsider’s perspective, when you get so embedded in the muck and can’t see the forest for the trees and start floundering, as I like to say.

So many said to lower the grocery bill and cut the cable.  My investing buddies were also big on opening our own investment accounts and managing our portfolios on our own.   Well guess, what?  We’re going to do all three of them!!  Look for more on these topics, which for us, will be quite challenging for various different reasons.  Of course, some will take more time than others to execute, but that’s why we call this a journey!

Detailed Debt Analysis

We’ve paid down debt to the tune of $28,771 this year so far and the trend of decline of debt continues since we first started our debt recovery journey.  The figures below show every month this year and the first column is from our D-Day.   Yesterday was the 70th anniversary of D-Day and I had it on my mind all day.   There’s nothing that can be done about the past, but we need to learn for the future, and remember all those who fought for our freedom.  I mean no disrespect calling our Debt Discovery Day our D-Day.  It feels both catastrophic and liberating, which could also be said about June 6, 1944.  For this reason, I felt it fit, and, let’s face it, there’s a whole lotta double ‘D’s’ going on here and that’s all I’m going to say about that.

Onward to the analysis, our freedom awaits us!

debt-repayment-journey

Notice there is a big time gap between Mar 2012 and Dec 2013. I wasn’t tracking in the same manner so I don’t readily have those figures. It was only when I started this blog in March 2014, that I pulled together the ‘big picture’. It was quite satisfying actually to look back at the progress.

Normally we are scheduled to pay approximately $1,600 biweekly towards debt.  Although not all of it goes to principal, it’s all at low rates, the highest being 2.89%.  In addition, we also pay $177 biweekly for a car payment at 0% interest.  So I guess you could say we pay in total about $1,750 every two weeks.  In addition, we try to pay an extra $2K per month, on top of that, but that is being extremely aggressive and assumes that The Irishman makes more than the minimum $2,400 budgeted per month.  So in a low month we would pay $3,500 towards debt and upwards to $5,500, but even as I write this, that seems surreal, so don’t quote me (yet! :o )  Notice how in February and March the reduction was not even meeting the $3,500, due to the lean Q1 period!

Diversion

I know that some of these figures may seem quite high to some readers, and you may think, gee, I wish I had that much money to throw at my debt.  I even wince sometimes when I present these numbers, because I think that people will say “Meh!  First world problems”.

Let me just say this, it’s all relative.  Meaning that my debt numbers are a lot higher than most of what I’ve seen publicly out here on the internet.   In addition, I think at $2,400/month, The Irishman is more middle to lower income, or certainly is not paid enough for how hard he works!

We are a lot older than most personal finance bloggers and should be retiring soon.  He is 61 and I am 54.  Yes, I know, with our income level, we are stupid to even get into this mess that we’re in.

But here’s the thing.  If we can get ourselves into this state, there is a whole lotta other people out there who are probably dancing at the devil’s door too.  Lifestyle inflation, wants not needs, call it what you want… but I’m here to tell you that if you take your eye off the ball and say “I deserve”, you will be facing the music at some point too.   My message is to prevent people from making the same ridiculous mistakes and help those who have fallen like we have.

Delta Dialogue

Okay, sorry for that diversion.  I just felt I needed to get it out there.  So back to my analysis.  The decrease from March to April, was due to payment of the big credit card bill mentioned above ($5K).  In April, The Irishman got a big commission, so we were able to play catch up and pay down our low-rate credit card to the tune of $6K, which is why the May figure is so much lower.  In May, we were able to ramp the payment back up on the low rate balance transfer credit card to $2K, on top of our normal debt repayment of $1,750 biweekly.  There is also one extra $1,600 mortgage payment in the June 6 balance, as our mortgage was paid yesterday.

So all in all, I think we are back on track.  The annual target of $60K is not in the bag by any means at this point.  We’ve still got 4 years to go.  My planning has us at May/June 2018 having it all paid off.  My stretch target is December 2017, but that is only a pipe dream at this point.

Diatribe on Dialect

I was cleaning up some things on my blog and noticed I should review my SPAM folder in case any legitimate comments got unintentionally put there.  But, nope, all SPAM and I decided I should delete all comments there because there was getting to be quite a few, and it would make future reviews much easier.  Before I did, I saved a few gems that are pretty representative of most of them, but some genuinely more humorous than others.  Url’s provided have obviously been removed by moi, some pointing to running shoe sites, or lewd sites and other things I can’t even recall.  It’s so obvious with most of these comments that English is not their first language, and some genuinely try and are better than others.  Anyways, I will dissect these comments in my own snarky manner, just because.

how to grow taller when your 14

An intriguing discussion is definitely worth comment.
There’s no doubt that that you ought to write more about this topic, it may not be a taboo subject but generally people
do not speak about such issues. To the next! Kind regards!!

how to grow taller when your 14”  Oh, the poor guys who googled this phrase.  Doesn’t your heart just melt for them?   This English in this one is actually probably the best I’ve seen in SPAM, even though the words and sentence structure is rather awkward.  I just love the the second last phrase though “To the next!”  Like ‘onward and upward‘ or ‘high ho cheerio!’.  Had me giggling. :-D

Richardsamuelmd.com/2011/11/22/how-to-treat-mild-Eczema/

It is the best time to make a few plans for the long run and it’s time
to be happy. I have read this publish and if I may just I want to counsel you few fascinating things or advice.
Maybe you could write next articles regarding this article.

I wish to learn more things approximately it!

Oh, a medical related one.  I’ve probably googled “How to treat mild eczema” myself once.  Oh, I hope I don’t invite the SPAMLORDs in now.  Again, this one is not too too bad, until the end when he says “I wish to learn more things approximately it“.  Good sword, I can’t even think what word the good doctor even meant to use here.    Anyways, you keep learning new things there on your {internet} rounds there, Dr. Samuel.  Don’t come by here though.  Nothin’ to learn here.  Glad I’ve got my good buddy akismet on my side!

Lop Bunny


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Debt Update – The Bears are Beating the Bunnies

Is this how you feel while clawing your way up while paying off your debt?

*To view this video on YouTube Click here

Sometimes it does for me too.  When it does, what better time to do a recap and look back at your progress?

This gives me a lift.  Plus, I get to write snarky comments for each of my piles of debt which is funny in my head.   They have taken on animated caricatures as I wrestle with them month over month.  They cannot try and hide and multiply like a bevy of rabbits anymore.  Not that I don’t think these are adorable, but I know because my daughter has one, rabbits can do a lot of damage.

So ya, I’m da boss now, clawing like a bear.  Bunnies go forth and multiply somewhere else.  :D
Lop Bunny-debt-update*Image courtesy of SOMMAI / FreeDigitalPhotos.net

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