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Old 12-10-2012, 02:01 PM   #11
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Re: Dave Ramsey Support Thread ~ Dec 10 - Dec 16

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Originally Posted by IsaacsMom2009 View Post
My sister just called to tell me that my mom had a heart attack last night and is in the hospital.


Looks like I won't be paying bills today as I have to drive 90 miles to go see her and I can't go pick up my paycheck.

My sister says that mom is doing okay now, but I feel like I should go see her. But first I have to stop crying.
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I've been able to see my mom. She's doing well. Thank goodness she's so stubborn.
I am glad she is doing well and that you were able to visit with her.

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Old 12-10-2012, 02:07 PM   #12
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Re: Dave Ramsey Support Thread ~ Dec 10 - Dec 16

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Originally Posted by frugalmomof2 View Post
Income: $610 net weekly, DH usually has a good chunk of overtime each month but it is not guaranteed income

Weekly Expenses:
Grocery (includes toiletries, DH lunches, 3 meals a day for me & 2 kids No WIC or other assistance): $105
DH's gas (work commute): $60
My gas (kids to school, grocery store): $10
Auto Payment: $416.30 (read my first paragraph above, we will be working on refi so we can get rid of this debt)
Auto Insurance (2 vehicles, one full coverage, 1 liability) & Renter's Insurance: $115 (I have shopped extensively, this is the best deal I can find!)
Cellular Phones: $110 (our only phones. Verizon. Prepaid is cheaper but termination is $270 for both of our lines)... don't like this bill this high (I think it should be $75-90 with prepaid but not sure we can change it right now).
Internet: $31.36 (basic internet, no contract, necessary for my college classes)
Water/Sewer/Trash: $115 (our town is high. My sister/fiance is close to this and its just the two of them).
Gas: $30 (average just our furnace and dryer.)
Electric: $85 (budget billing)
Netflix: $8 (on our roku, we have no cable or anything)
Personal Loan Payment: $50 (we are paying $100 a month so we can get it done by March and try to refi the car.. If DH gets overtime to add to the snowball we will have it done in Feb).
Rent: $575

We are left with AT LEAST (depending on DH's overtime) $25 a month to snowball our debt. DH usually (90% of the time) gets enough overtime that we have $300 or so a month to snowball.
A few things that jump out at me...

I would get on WIC for your 2yr old, shop sales and coupon to help cut the grocery bill down. I'd bet you could get it down to $70-$75/week.

You should be able to get the cell phone bill lower without terminating your contract. Before I upgraded to an iphone, my verizon bill was $90 and that was for 2 lines, the lowest amount of minutes plus texting.

Also, make sure you are consolidating trips to save gas money.
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Old 12-10-2012, 02:44 PM   #13
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Re: Dave Ramsey Support Thread ~ Dec 10 - Dec 16

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Originally Posted by AfWife8405 View Post
A few things that jump out at me...

I would get on WIC for your 2yr old, shop sales and coupon to help cut the grocery bill down. I'd bet you could get it down to $70-$75/week.

You should be able to get the cell phone bill lower without terminating your contract. Before I upgraded to an iphone, my verizon bill was $90 and that was for 2 lines, the lowest amount of minutes plus texting.

Also, make sure you are consolidating trips to save gas money.



I have a WIC appointment Dec. 17th but I'm not sure if income wise we will qualify. We are right on the cap of gross income. If so, then yes, I can definitely decrease our groceries to $70-75, just not sure until after the appointment

I'm not sure with the cell phone - we have the lowest minutes, are a lower grandfathered in plan. No data, though we have $10 extra between our phones for extra texting. 17% discount for DH's work too. We will look at it again tonight though, thanks for the suggestion!

We definitely have come a long way to consolidating trips! DH stops at Walmart once a week on his way home to pick up any grocery items that I need which are cheaper there... and has been great on holiday gifts picking up items from stores on his way home to avoid shipping charges. He has an hour commute to work (which we hope to change once I graduate) but we have much lower cost of living here so it evens out. My trips are in town (a small town) to take DS to school/pick up and the grocery store, which I stop at after I drop him off. I do have to take the kids to their appointments in the city (which is $15 gas per trip for the van). I pack lunches and snacks to avoid any other costs, but there is really no way to make those any more consolidated.

Great suggestions - I think the gas thing is something I think we will always have to keep aware of - any way to save gas. Thankfully both vehicles are good on gas mileage (him=Kia Optima, me=minivan).

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Old 12-10-2012, 02:52 PM   #14
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Re: Dave Ramsey Support Thread ~ Dec 10 - Dec 16

I have a dumb question about the car loan, I think I just don't get it. You said you can't sell it because of the high interest rate. Why would that make a difference? (I'm car loan dumb so excuse me as it's been years since I've had one). But wouldn't the only thing that effects selling it and buying something cheaper be the payoff amount? So in theory couldn't you sell it and get something cheaper and maybe finance through your CU the new car at a lower interest rate to begin with and buy something much cheaper? Just thinking out loud here, ignore me if it doesn't apply or I'm missing something.

Also your auto insurance seems kind of high. Have you shopped around? We have three cars, two on full coverage (one is brand new) and one on liability only and we pay only $115 a month, so it seems odd to me that yours would be the same with one whole less car on full coverage. Just a thought to look into. Also, we pay about $10 more for our phones, but have 4 lines on it. So mabey call verizon again and see (that's who we are with too but we are also an older grandfathered plan so you never know). Then on utilities, just try simple things, like shorter showers, rinse dishes on cold if you are going to run the dishwasher anyway, wash all laundry you can on cold, things like that.
It looks like you are well on your way, it will just go faster if you can find other places to reduce the amount you spend.
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Old 12-10-2012, 03:26 PM   #15
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Re: Dave Ramsey Support Thread ~ Dec 10 - Dec 16

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Originally Posted by frugalmomof2 View Post
Hello again everyone! I'm Ashley. As I said last night, my DH and I have decided to follow Dave Ramsey's makeover plan. The next year will be a slow process for us as I am a full time student and we don't have much leftover each month. We have DS (5) and DD (2). DH provides the sole income. We both made many mistakes early on and have very poor credit and it is reflected in our auto interest rate. We are paying down the last small debts in January and by March will be left with only a Student Loan and the Car Loan. Our credit should go up enough by March, and working with our credit union we should be able to refinance our car's interest rate at that time. When we do, we will make that our priority debt to snowball. We have considered selling our vehicle, but we would come out at a loss with our current interest rate. If we can get it lowered and get ahead with a bigger snowball, then it is a possibility to sell it and buy a cheaper car. This is our big toughie but I think we are in a good place in terms of our outlook. So, help me out but go easy on the car situation as it's not going to change in the next few months at least.

Last night we went through our budget, worked through a couple months, and I wanted to discuss with you what we ended with and see what input y'all have for us. I know after reading through last week's thread all of you will be such an asset to us in our journey and I hope to eventually be to you as well I think the next few months will be a journey for us into a new lifestyle.


Current Debts (we are current on all payments):
Medical/Dental: $52.70 (final payment in Jan 2013!)
Auto Loan @ 18% APR: $13,813
Student Loan (deferred currently while I am in school) $8,439
Credit Card; $0 balance after Jan 2013 payment!
Small Personal Loan $320 (through our credit union, good interest rate, we reviewed our finances with a loan officer to discuss refinancing the car loan and she said they would be willing to if we could show a good in house credit history with a small personal loan since we were still new members. Last payment is in March then we will apply for refi on the car).
---So our debt is basically the student loan and the car.

Income: $610 net weekly, DH usually has a good chunk of overtime each month but it is not guaranteed income

Weekly Expenses:
Grocery (includes toiletries, DH lunches, 3 meals a day for me & 2 kids No WIC or other assistance): $105
DH's gas (work commute): $60
My gas (kids to school, grocery store): $10
Auto Payment: $416.30 (read my first paragraph above, we will be working on refi so we can get rid of this debt)
Auto Insurance (2 vehicles, one full coverage, 1 liability) & Renter's Insurance: $115 (I have shopped extensively, this is the best deal I can find!)
Cellular Phones: $110 (our only phones. Verizon. Prepaid is cheaper but termination is $270 for both of our lines)... don't like this bill this high (I think it should be $75-90 with prepaid but not sure we can change it right now).
Internet: $31.36 (basic internet, no contract, necessary for my college classes)
Water/Sewer/Trash: $115 (our town is high. My sister/fiance is close to this and its just the two of them).
Gas: $30 (average just our furnace and dryer.)
Electric: $85 (budget billing)
Netflix: $8 (on our roku, we have no cable or anything)
Personal Loan Payment: $50 (we are paying $100 a month so we can get it done by March and try to refi the car.. If DH gets overtime to add to the snowball we will have it done in Feb).
Rent: $575

We are left with AT LEAST (depending on DH's overtime) $25 a month to snowball our debt. DH usually (90% of the time) gets enough overtime that we have $300 or so a month to snowball.

We have calculated a tax refund that is upwards of $1,500 and will be using $1,000 to establish our emergency fund, as well as getting life insurance for both of us.

So, in the end to summarize... we have a tight cash flow but we are in the green. We have a small snowball for the next few months. As of March we will have $100 extra month to snowball to the car payment (from our loan payment) and will hopefully be able to refinance the car to a lower interest rate which will mean more money to snowball the car with.

Sorry this was so long!! I'd love any thoughts, criticisms, suggestions or reassurances :S I'm here for the long haul
Your income is the same as my DH's per week and I am a family of 4. And you are right if you take a check with your dh's over time on it you will be over WIC cut off.

Our grocery budget is only a tad less (100/wk) but this month we've spent 70 we are eating out of the pantry mostly. Our mortgage is a bit less than your rent ($515) but we also have a HELOC we pay 100/mo. our gas is $100/wk for the 2 of us so a bit higher. our electricity is usually 60-80, our phone is only land line at $45, but our internet is $55. Our trash is $50/3mo, our water and sewer we already paid for when we put in the well and the mound system. We have LP its about 500/year for our drier and hot water heater, but we also have a back-up furnace that runs on it. Our main source of heat is our wood furnace 1k a year (this year and next year its only 800!). Swap your auto loan for medical bill payments (which will be paid off in Jan). And we have no netflix or cable. We do have tithe. our car insurance is $50/mo (liability only on 4 vehicles), our home owners insurance is $25/mo and our life is $100/mo (which we use our tax return to pay instead of saving monthly for them). and misc things like dog food, car repair etc that's about 100/wk.

Try to find a little blow money you'll find it refreshing to have.

Next month we are going cash no cc, that's another reason for me not to use mine on food (its normal usage) so that its paid off for the beginning of next month.
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Old 12-10-2012, 04:08 PM   #16
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Re: Dave Ramsey Support Thread ~ Dec 10 - Dec 16

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I have a dumb question about the car loan, I think I just don't get it. You said you can't sell it because of the high interest rate. Why would that make a difference? (I'm car loan dumb so excuse me as it's been years since I've had one). But wouldn't the only thing that effects selling it and buying something cheaper be the payoff amount? So in theory couldn't you sell it and get something cheaper and maybe finance through your CU the new car at a lower interest rate to begin with and buy something much cheaper? Just thinking out loud here, ignore me if it doesn't apply or I'm missing something.

Also your auto insurance seems kind of high. Have you shopped around? We have three cars, two on full coverage (one is brand new) and one on liability only and we pay only $115 a month, so it seems odd to me that yours would be the same with one whole less car on full coverage. Just a thought to look into. Also, we pay about $10 more for our phones, but have 4 lines on it. So mabey call verizon again and see (that's who we are with too but we are also an older grandfathered plan so you never know). Then on utilities, just try simple things, like shorter showers, rinse dishes on cold if you are going to run the dishwasher anyway, wash all laundry you can on cold, things like that.
It looks like you are well on your way, it will just go faster if you can find other places to reduce the amount you spend.
Our vehicle is not worth as much as our loan is on it. If we sell it, we will not be getting enough to pay off our loan, and we don't have the cash to cover the difference. If we sell it, we need to be able to immediately cover that gap between the price we sold the car from and our car loan amount. We are ok with selling the car, but we need to be able to break even at least? Who knows, come March when we sit down with the CU to look at interest rates, we might be able to sell the car and roll the difference into a loan with them. But we won't know until then, so it's kind of a moot point to some degree. We've stressed about it non-stop but until we have someone to finance us in a GOOD way to get out of the car payment trap, stressing isn't getting us ANYWHERE Trust me, we're really good at stressing about it.

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Originally Posted by drabekgirl View Post
Your income is the same as my DH's per week and I am a family of 4. And you are right if you take a check with your dh's over time on it you will be over WIC cut off.

Our grocery budget is only a tad less (100/wk) but this month we've spent 70 we are eating out of the pantry mostly. Our mortgage is a bit less than your rent ($515) but we also have a HELOC we pay 100/mo. our gas is $100/wk for the 2 of us so a bit higher. our electricity is usually 60-80, our phone is only land line at $45, but our internet is $55. Our trash is $50/3mo, our water and sewer we already paid for when we put in the well and the mound system. We have LP its about 500/year for our drier and hot water heater, but we also have a back-up furnace that runs on it. Our main source of heat is our wood furnace 1k a year (this year and next year its only 800!). Swap your auto loan for medical bill payments (which will be paid off in Jan). And we have no netflix or cable. We do have tithe. our car insurance is $50/mo (liability only on 4 vehicles), our home owners insurance is $25/mo and our life is $100/mo (which we use our tax return to pay instead of saving monthly for them). and misc things like dog food, car repair etc that's about 100/wk.

Try to find a little blow money you'll find it refreshing to have.

Next month we are going cash no cc, that's another reason for me not to use mine on food (its normal usage) so that its paid off for the beginning of next month.
I have 2 paychecks of DH's that have no overtime on them from this past month, we'll see what WIC says. I feel a little like I am using the system though and it doesn't feel right to me.

Thanks for running through your budget, it sounds like we have a LOT of similar items. This car payment really has us trapped ~ I can't wait to sit down and talk with the credit union, regardless what they say, come March or so. We've gotta find a way to lower the interest (and get ahead) or sell.

We are starting a cash system in January. I think that will be VERY helpful come groceries - leave my credit/debit card in the car and if I go over then I put back.
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Old 12-10-2012, 07:07 PM   #17
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Re: Dave Ramsey Support Thread ~ Dec 10 - Dec 16

Sorry, I feel like I'm almost spamming this thread with my posts, but sat down with DH and went through Verizon billing. made some cuts where we could - and will be down to $97 per month which is $13 more to snowball! Thanks slimy72 and AfWife8405!!
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Old 12-10-2012, 07:35 PM   #18
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Re: Dave Ramsey Support Thread ~ Dec 10 - Dec 16

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Our vehicle is not worth as much as our loan is on it. If we sell it, we will not be getting enough to pay off our loan, and we don't have the cash to cover the difference. If we sell it, we need to be able to immediately cover that gap between the price we sold the car from and our car loan amount. We are ok with selling the car, but we need to be able to break even at least? Who knows, come March when we sit down with the CU to look at interest rates, we might be able to sell the car and roll the difference into a loan with them. But we won't know until then, so it's kind of a moot point to some degree. We've stressed about it non-stop but until we have someone to finance us in a GOOD way to get out of the car payment trap, stressing isn't getting us ANYWHERE Trust me, we're really good at stressing about it.

.
That makes a TON more sense. I was sitting here trying to figure out why an interest rate made it so you couldn't sell your car. Sorry, sometimes I just confuse myself.
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Old 12-10-2012, 08:30 PM   #19
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Re: Dave Ramsey Support Thread ~ Dec 10 - Dec 16

Kearson --- *Hugs* I hope she is feeling better tonight and things are going well.


AFM-- Morning sickness, aversions and cravings are KILLING my budget. We ate out 4 times last week because I can't stand the smell of food cooking. I am trying really hard this week to stay away from eating out and giving in to cravings. =/

Christmas and birthday shopping for both kiddos are done except I need to go buy DS a couple outfits at the Hanna Outlet after Christmas for his birthday. They usually have pretty awesome sales. Otherwise, nothing new going on.
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Old 12-10-2012, 10:38 PM   #20
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My goals for the week are make $500. I'm almost halfway there....

Then I'm working on starting off the new year on a totally different foot. Setting even larger goals for myself.
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