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Old 12-10-2012, 11:48 PM   #21
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Originally Posted by IsaacsMom2009 View Post
I've been able to see my mom. She's doing well. Thank goodness she's so stubborn.
Great news!!! I hope she continues to improve!!!

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Old 12-11-2012, 06:42 AM   #22
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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
OK since you have 2 kids, right off the bat I see 3 categories in the budget that are missing. Clothing, gifts, and medical. With small kids you will be buying clothing/shoes on a regular basis and having and envelope for this purpose is crucial to keeping on track with budget. Again with kids you know that birthdays and Christmas (and other gift giving situations like them going TO a birthday party, Easter baskets, etc.) are going to come around every year at the same time so again and envie for this is important, and finally you should have a small amount earmarked for medical to cover co-pays and perscriptions (and I use my budgeted amount for OTC medication, bandaids, etc. too).
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Old 12-11-2012, 07:06 AM   #23
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Ok so I did not get anything listed on ebay. I did get hubbys chevy engine listed on cl and weve had a couple of nibbles. Yay!!!

Dh and I have seperate joint checking accounts. Few days ago I went through his account to see what his fast food habit was.....OMG 324$ in one month!!!!! I asked him to go on cash only and he agreed. Whew. No wonder he never has any money. I used to buy him sandwhich stuff but he still went out and it all went bad. Now he wants me to get him one of those cheese n cracker trays.
Watch me Im fixing to man up and take away the budget and his debit card. Sigh
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Old 12-11-2012, 09:46 AM   #24
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Re: Dave Ramsey Support Thread ~ Dec 10 - Dec 16

Dh was able to get to the bank on Monday after the new paycheck/debit card was finally activated. All bills that are here have been paid.

I found a 1 gal of drywall mud and some tape and even the sander around here. Bet you'll never guess what I've been up to today. but we still need corner pieces.

I get to go to the bulk food store today I'm in need of 50# of oatmeal, flour and a few pounds of brown sugar and popcorn. I've made it a point not to go more than 1x a month lately or else I spend way to much there.
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Old 12-11-2012, 11:05 AM   #25
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Originally Posted by bluecandi View Post
Ok so I did not get anything listed on ebay. I did get hubbys chevy engine listed on cl and weve had a couple of nibbles. Yay!!!

Dh and I have seperate joint checking accounts. Few days ago I went through his account to see what his fast food habit was.....OMG 324$ in one month!!!!! I asked him to go on cash only and he agreed. Whew. No wonder he never has any money. I used to buy him sandwhich stuff but he still went out and it all went bad. Now he wants me to get him one of those cheese n cracker trays.
Watch me Im fixing to man up and take away the budget and his debit card. Sigh
Ugh that's me. I can EASILY spend $300+ on takeout in a month. Now I get $30 cash and no debit card.
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Old 12-11-2012, 11:05 AM   #26
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Dh was able to get to the bank on Monday after the new paycheck/debit card was finally activated. All bills that are here have been paid.

I found a 1 gal of drywall mud and some tape and even the sander around here. Bet you'll never guess what I've been up to today. but we still need corner pieces.

I get to go to the bulk food store today I'm in need of 50# of oatmeal, flour and a few pounds of brown sugar and popcorn. I've made it a point not to go more than 1x a month lately or else I spend way to much there.
Bulk food store???

Ooooh I need one of those!! Only places I know that sell in bulk are costco and sams.
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Old 12-11-2012, 12:38 PM   #27
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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.
So, sorry to hear it. I hope you get over to see her soon.

Quote:
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
Those are weekly expenses? Or do you mean monthly? I'm actually guessing some are weekly, as titled, and some are really monthly.
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Old 12-11-2012, 12:53 PM   #28
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Re: Dave Ramsey Support Thread ~ Dec 10 - Dec 16

Good day here!

Took DS to the eye doctor, he needs glasses. Our insurance covers the visit 100% as well as his glasses! We packed sack lunches too so the only cost was gas

I had enough eBay items sell that the last Christmas presents we need to buy are paid for out of that $. No more spending for Christmas!

Quote:
Originally Posted by lakemom View Post
OK since you have 2 kids, right off the bat I see 3 categories in the budget that are missing. Clothing, gifts, and medical. With small kids you will be buying clothing/shoes on a regular basis and having and envelope for this purpose is crucial to keeping on track with budget. Again with kids you know that birthdays and Christmas (and other gift giving situations like them going TO a birthday party, Easter baskets, etc.) are going to come around every year at the same time so again and envie for this is important, and finally you should have a small amount earmarked for medical to cover co-pays and perscriptions (and I use my budgeted amount for OTC medication, bandaids, etc. too).
What would be an appropriate amount to try to budget into this envelopes? It will have to be on an overtime-basis since we don't have the give room in the regular budget, but that's not a big deal since DH always has overtime.

Clothing - I spend $60 between both kids each year, including shoes. Mostly garage sales and consignment stores. Occasional clearance items at walmart and such. Shoes are usually payless but when they have a BOGO 50% off. So maybe $5/month to the envelope?

Gifts - Birthdays are always paid for by Swagbucks Amazon gcs...I use $30 or so on cake/food for both their parties...and maybe $10 for the random birthday parties DS goes to and then $20 for baby showers per year (I average 1 a year) and Christmas is around $600. So I need $55 a month or so into that envelope?

Medical - We have no copays with doctors, specialists, dentists or optometrists. If we go over their coverage limit for dental then it's out of pocket. But we've never come close to $1k for dental (each kid has their own separate limit). Emergency Room visits are no copay. Etc, etc. The only Prescriptions are covered if they are generic. The kids have never really had any non-generic prescriptions when I look in the last 2 years of medical. We do average $20 in over the counter meds each year. So should I just have an OTC med envelope and put $2 in each month?

Quote:
Originally Posted by bluecandi View Post
Ok so I did not get anything listed on ebay. I did get hubbys chevy engine listed on cl and weve had a couple of nibbles. Yay!!!

Dh and I have seperate joint checking accounts. Few days ago I went through his account to see what his fast food habit was.....OMG 324$ in one month!!!!! I asked him to go on cash only and he agreed. Whew. No wonder he never has any money. I used to buy him sandwhich stuff but he still went out and it all went bad. Now he wants me to get him one of those cheese n cracker trays.
Awesome on the engine!
Over $300 on fast food? Goodness! I think between all of us we hit $10 a month max. Going to cash only is a GOOD move for him!

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Originally Posted by drabekgirl View Post
Dh was able to get to the bank on Monday after the new paycheck/debit card was finally activated. All bills that are here have been paid.
Yay!
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Old 12-11-2012, 01:51 PM   #29
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Re: Dave Ramsey Support Thread ~ Dec 10 - Dec 16

I am going to go spend some of my spending money on clothes tonight to wear to DH's Christmas party. It is at a very upscale club in Portland and I've either got to buy a cardigan and some shoes, or a whole new outfit. I am going to the outlets and then target as a last resort. I have tried 3 thrift stores in the past two weeks and come up empty handed. I'll admit that I am picky, but things tend to not fit me properly or modestly because of the way I am shaped
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Old 12-11-2012, 05:59 PM   #30
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Re: Dave Ramsey Support Thread ~ Dec 10 - Dec 16

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Bulk food store???

Ooooh I need one of those!! Only places I know that sell in bulk are costco and sams.
Ours is an Amish/Mennonite store. The bag of flour was $24 and the bag of oatmeal $18. The bag (1lb) of cornstarch $1.50. My total was $65. So doubled my grocery total for the month. we don't have a costcos and I'm not allowed to shop at walmart or sams. But I know of 2 bulk food stores within 30 miles..
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