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A place for Get Rich Slowly readers to ask questions
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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Wed Nov 30, 2011 2:19 pm 

Joined: Wed Sep 07, 2011 3:07 pm
Posts: 65
Squirreled away another $50 - SL savings total: $1650. $5350 to go.

Meat profits not as good as hoped - only $900 profit. I will use this to keep the farm going and not spend on anything. I have a some repairs to do on an important outbuilding ($400), septic system is overdue for a clean out as well (that'll cost at least $300). But the money only comes out of the farm products not my pocket thankfully. The last $200 will go on replacing guttering that is falling to bits.


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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Sun Dec 04, 2011 1:44 pm 

Joined: Wed Sep 07, 2011 3:07 pm
Posts: 65
I'm really hating my workplace today. I had a horrible weekend. Very tired, lethargic and sick. Now I'm back surrounded by happy, arrogant lifers that have nothing in common with me. I wonder if its the nicotine thing that's annoying me or just a long, hard six months. Must focus on the good things. I earnt $100 extra over the weekend but most of it went on small debts. I suppose I stopped myself from spending on rubbish, not a hard thing to do when you live rural. Worked on my contract job on and off over the weekend, making headway.

I may take an early holiday this year as I'm really over this place at the moment. Will think about it for a few days. I have time with pay owing, so why not use a little?


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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Mon Dec 05, 2011 1:37 pm 

Joined: Wed Sep 07, 2011 3:07 pm
Posts: 65
Car broke down yesterday - so there goes the efund I think. Waiting for the bad news today. Electronics/electrics problems. Just when I thought I was digging myself out of debt.


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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Mon Dec 05, 2011 1:55 pm 

Joined: Fri May 04, 2007 8:14 pm
Posts: 1809
Sharpe wrote:
Car broke down yesterday - so there goes the efund I think. Waiting for the bad news today. Electronics/electrics problems. Just when I thought I was digging myself out of debt.

You are digging yourself out of debt. The efund is for stuff you can't forsee; that way you can take care of such stuff without going back (or deeper) into debt. So with this setback (and there are almost always setbacks, that's why you have an efund), it's going to take a little longer to dig yourself out as you replenish the efund. But don't fool yourself that you're no longer digging yourself out when stuff like this happens. It's a dangerous train of thought because that's when a lot of people give up. The way to look at it is that this unplanned expenditure was bound to happen in some shape or form but because you had an efund, you were prepared for it. It slowed you down, but didn't set you back.


Last edited by VinTek on Tue Dec 06, 2011 8:53 am, edited 1 time in total.

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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Tue Dec 06, 2011 7:21 am 

Joined: Tue Apr 15, 2008 6:48 am
Posts: 526
Location: Arkansas
Sharpe wrote:
I'm really hating my workplace today. I had a horrible weekend. Very tired, lethargic and sick. Now I'm back surrounded by happy, arrogant lifers that have nothing in common with me. I wonder if its the nicotine thing that's annoying me or just a long, hard six months. Must focus on the good things. I earnt $100 extra over the weekend but most of it went on small debts. I suppose I stopped myself from spending on rubbish, not a hard thing to do when you live rural. Worked on my contract job on and off over the weekend, making headway.

I may take an early holiday this year as I'm really over this place at the moment. Will think about it for a few days. I have time with pay owing, so why not use a little?


sounds like you work with the same kind of people I do. Best of luck on your journey.

_________________
I can not dwell over that to which I have no control...


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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Tue Dec 06, 2011 7:24 am 

Joined: Tue Apr 15, 2008 6:48 am
Posts: 526
Location: Arkansas
VinTek wrote:
Sharpe wrote:
Car broke down yesterday - so there goes the efund I think. Waiting for the bad news today. Electronics/electrics problems. Just when I thought I was digging myself out of debt.

You are digging yourself out of debt. The efund is for stuff you can't forsee; that way you can take care of such stuff without going back (or deeper) into debt. So with this setback (and there are almost always setbacks, that's why you have an efund), it's going to take a little longer to dig yourself out as you replenish the efund. But don't fool yourself that you're no longer digging yourself out when stuff like this happens. It's a dangerous train of thought because that's when a lot of people give up. The way to look at it is that this unplanned expenditure was bound to happen in some shape or form but because had an efund, you were prepared for it. It slowed you down, but didn't set you back.


I like your train of thought.... Now if I can just remember it when I get slammed with setbacks.

_________________
I can not dwell over that to which I have no control...


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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Tue Dec 06, 2011 2:25 pm 

Joined: Wed Sep 07, 2011 3:07 pm
Posts: 65
Yeah Vintech, thanks for the pep tallk. I needed that. Shit happens, but if I'm ready for it with my cash, then mr credit card can go to hell. Apologies for crudeness, but still hating my workplace today. Sick, tired, fatigued, and worried, still a non-smoker though (yee haa - fourth week here I come). Bascially a nutcase at the moment. As you say unplanned hassles seem to hit me worse at this time of the year. I should be mentally strong enough at 35 to handle them.

Good news: the car problems were only battery related, so only $150ish to fix the problem according to my friendly and garrolous mechanic. So, not all bad. Also I put in for leave for at least the next two weeks. Its automatic so I'm going to spend it home, frugally living it up (oxymoron?)


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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Tue Dec 06, 2011 2:27 pm 

Joined: Wed Sep 07, 2011 3:07 pm
Posts: 65
I like your train of thought.... Now if I can just remember it when I get slammed with setbacks.[/quote]

Lol - I try to lock my office door regularly so the lifers can't find me at the moment. I do my job, and well, but I'll be damned if I have to listen to whining crap from exstatic mall rats while I'm forced to be here. Rant ends - feel better.


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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Tue Dec 13, 2011 2:28 pm 

Joined: Wed Sep 07, 2011 3:07 pm
Posts: 65
SL savings up to $2160 as of today (about 31% of the way to my target of 7 grand by late march 2012).

Merry xmas to all - and leave you credit cards at home this season.


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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Tue Jan 03, 2012 2:22 pm 

Joined: Wed Sep 07, 2011 3:07 pm
Posts: 65
SL savings now at $2650. I'm a little behind schedule due to a small holiday to see old friends for three days. Xmas was OK - didn't spend much, and had a good time. I'm dreading going back to work at the moment. I keep telling myself it's a means to an end. I have another day of extra work coming up in my part-time/casual cash job this month. So that will go towards vehicle maintenance costs.


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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Thu Jan 26, 2012 4:12 pm 

Joined: Wed Sep 07, 2011 3:07 pm
Posts: 65
I just paid off another $550 directly off my student loan. Total to pay now stands at $16,324.21. I have $2950 saved for the big pay off next month. I'm looking forward to this immensely. The interest accrument plan had failed. But then again I suppose time was against me this time around. I made another $100 two weekends ago and that went straight into the fund.

I had a serious look at my budget the other day and made the decision to save $15 a fortnight into a special account for my car only.


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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Thu Jan 26, 2012 9:39 pm 
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Joined: Thu Jan 26, 2012 9:23 pm
Posts: 26
Location: Michigan
Sharpe wrote:
Hi all,

I'm trying to get rid of my debt: 20k in student loan at 0% interest.



Sharpe, sorry to not answer your question, but I was wondering if you could tell me where and when you got the 0% interest on your student loans. I'm also a 30 something with just under 20k in student loan debt. I've gotten rid of all my debt accept for my student loan and mortgage, which I'm trying to accelerate paying off as well.

_________________
"I figure you have the same chance of winning the lottery whether you play or not."
Fran Lebowitz

Don't be passive about your finances: http://thefinancialreader.com


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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Sun Jan 29, 2012 5:21 pm 

Joined: Wed Sep 07, 2011 3:07 pm
Posts: 65
bejki wrote:
Sharpe wrote:
Hi all,

I'm trying to get rid of my debt: 20k in student loan at 0% interest.



Sharpe, sorry to not answer your question, but I was wondering if you could tell me where and when you got the 0% interest on your student loans. I'm also a 30 something with just under 20k in student loan debt. I've gotten rid of all my debt accept for my student loan and mortgage, which I'm trying to accelerate paying off as well.


New Zealand - the offer came in about 4 years ago for people who stay in the country. Otherwise graduates who left the country were charged 6.6% (or market) interest. Best thing the governemnt ever did in my opinion.


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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Sun Jan 29, 2012 9:06 pm 
User avatar

Joined: Thu Jan 26, 2012 9:23 pm
Posts: 26
Location: Michigan
Sharpe wrote:
bejki wrote:
Sharpe wrote:
Hi all,

I'm trying to get rid of my debt: 20k in student loan at 0% interest.



Sharpe, sorry to not answer your question, but I was wondering if you could tell me where and when you got the 0% interest on your student loans. I'm also a 30 something with just under 20k in student loan debt. I've gotten rid of all my debt accept for my student loan and mortgage, which I'm trying to accelerate paying off as well.


New Zealand - the offer came in about 4 years ago for people who stay in the country. Otherwise graduates who left the country were charged 6.6% (or market) interest. Best thing the governemnt ever did in my opinion.


I see, I'm in the U.S., so that doesn't apply to me. That's awesome you were able to get 0% though. Although 20k is a pretty big chunk of change, it helps a lot to not have interest working against you. Nice job on getting to the place you're at and good luck as you continue down that path.

_________________
"I figure you have the same chance of winning the lottery whether you play or not."
Fran Lebowitz

Don't be passive about your finances: http://thefinancialreader.com


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 Post subject: Re: 30 something guy trying to deal with debt
PostPosted: Thu Feb 02, 2012 1:12 pm 

Joined: Wed Sep 07, 2011 3:07 pm
Posts: 65
Student loan down to $13,394.21 as of this morning. Still waiting for payment from my contract job at the end of last year - which should be around $2300 after tax. So all in all everything seems to be going well. All that chipping away seems to have helped.

I have no other debts at the moment other than the mortgage, which is being paid off faster than the bank expects - they expect me to be paying for 17 years; in reality its gone in under 12 years. I'm also still paying the maximum percentage into my retirement account, which is about to edge over 30 grand.

The return to work has been ok so far, but as usual I'm more interested in the future and not the present. I need to work on that a bit over the year. Smell the roses and enjoy life more.


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