Debt Dumpers 2024

[WDW_fan_in_TX]

That's what I want to do, and that's what I told her we should do. But we shall see what happens. As I say, I see her point of creating a savings account now versus 2 months down the road. But I'd really, really like to pay that loan off if at all possible.

Pay off the loan. Then use those savings from making payments to create the savings account. The cookware can wait.

 

[afan]

Weekly update (Feb. 11)
Made the minimum payment on my one credit card due this past week.

But the bigger/biggest news is we got our taxes filed. We have enough to completely pay off our loan shark loan and have a little left over for us to spend together (we want some new cookware because we've had the same set since we got married in 2005 and we also want to make a down payment on our next Disney trip for December of this year or spring 2025). We would have enough to do all of that.

However, the wife doesn't want to fully pay off the loan. She wants to pay $500 on it (to leave about $300 left to pay) then take the extra, buy what was discussed in the last paragraph then put whatever extra is leftover into a savings account in case something happens (washing machine goes out, need new tires, other emergencies). I'm still trying to talk her into paying the loan completely off and then that would give us approximately $170 every 2 weeks to bank into savings, but I may not win that one. But I can also see her point because it would start the savings account immediately.

We did well with eating out this past week as we cooked at home every night and took lunches every day. Only ate out on Friday night and Sunday after church. Then we ordered pizza on Sunday night (for the Super Bowl). However, we were both able to eat dinner Sunday and lunch today, so got 4 meals out of $16. Win there.

Sold a few items from around the house to try and declutter. Sold 2 video games on eBay that I hadn't played in more than a year. Also sold some baseball cards. So all that came in handy this week to try and be able to survive until our next payday (rent ate up our last check). I also gathered some books to take to Half Price Books and sell. I also want to take some DVDs that we haven't watched in 2-3 years. But wife wants to keep them for sentimental value.

So some positives this week. Now we just have to buckle down and stay focused and try and get an emergency fund started. That's the next goal.

There shouldn't be any new cookware or deposits foe a trip. The loan needs to be paid in full with the remainder going to savings. Work on paying everything off on time and then adding to your emergency account. Then you can talk about new cookware and saving for a trip, not putting it on a credit card to pay off.

While I realize your actual credit card debt, if I'm remembering correctly, isn't bad, you also haven't been able to make on time payments. Until you guys can make on time payments, no live beyond your means and certainly never take put a payday loan again, you shouldn't be using the credit card period. You need to save up for big purchases, which may be $100 for cookware. But you need to have this money saved before making big purchases period.

 

[Nettlelondon]

My worry is that either the loan shark loan won't allow early payment - or partial settlement. I agree that it should be gone as quickly as possible but please, before you hand them anything other than the "normal" payment check the impact of your plan just to make sure it will produce the outcome you hope for. That contract feels so one sided that almost anything seems possible.

Great work on the eating out / general food changes - they are no doubt big domestic changes that don't obviously produce visible positive outcomes immediately but the benefit will come through.

I would normally agree that there should be no spending on wants - cookware/deposits - but can see that these may be little crumbs to try and keep your OH on side. Can you negotiate it down to one or two new items from a good quality brand that will still be around for ages and then add another item when a financial goal has been reached? A new dish for clearing the loan shark loan, another on paying off credit card 1, then $1,000 in savings? Little "treats" may help maintain focus.

I am not sure I have ever been so invested in a stranger in my computer's finances before but I so want you and your wife to get out of this pickle and away from the clutches of legal loan sharks.

 

[ruadisneyfan2]

This just reminded me that I still have the same dishes from before dh and I got married, going on 29 years. We lived together for about 3 years before that. So I'd guess they were bought in 1992.
Back then, Pfaltzgraff products were still made in the US.

 

[barkley]

we used to live right near a pfaltzgraff outlet-i loved that place. their stuff does last forever-i still have some of the small rectangular tray like plates that they used to manufacture for airlines.

 

[Nettlelondon]

I have some Le Creuset that we have been using for 32 years and our kitchen knives are that old too but have been supplemented with others. We were given some pans for wedding presents that looked great but didn't even make our first wedding anniversary before I got fed up with their wobbly handles and uneven heating.

Our fridge & freezer are still going strong from then too, although now in my mum's garage. We moved in with my parents for a few weeks after we sold our first home. The people buying the apartment wanted the washing machine and fridge freezer but only mentioned this a couple of days before completion and thought we would say they could have it for nothing as they knew we were moving in with my folks and thought we wouldn't have room for them (or be able to move heavy items from a 4th floor property with no elevator). We were annoyed by their approach so managed to find room & a way of moving them. It was hard work but worth it. The washer lasted about 5 years once we got our own place again but we didn't need the fridge/freezer as our new kitchen already had them so we left it with mum.

 

[barkley]

I have some Le Creuset that we have been using for 32 years and our kitchen knives are that old too but have been supplemented with others. We were given some pans for wedding presents that looked great but didn't even make our first wedding anniversary before I got fed up with their wobbly handles and uneven heating.

Our fridge & freezer are still going strong from then too, although now in my mum's garage. We moved in with my parents for a few weeks after we sold our first home. The people buying the apartment wanted the washing machine and fridge freezer but only mentioned this a couple of days before completion and thought we would say they could have it for nothing as they knew we were moving in with my folks and thought we wouldn't have room for them (or be able to move heavy items from a 4th floor property with no elevator). We were annoyed by their approach so managed to find room & a way of moving them. It was hard work but worth it. The washer lasted about 5 years once we got our own place again but we didn't need the fridge/freezer as our new kitchen already had them so we left it with mum.

i've got some old stuff too! stuff that dates back to when dh and i started living together in '89 but even further back b/c when my mom downsized i snagged some of her cast-irons (one of which was my grandmother's who passed in the '60's), when mil did the same we got an old school (metal pitcher) vitamix (they still make replacement parts for these ). i think the oldest appliance i have is my kitchenaid mixer. a friend's mom passed around 2000 and she had one dating back to when the did'nt offer any colors (the 50's)-he did'nt want it and offered it up. that sucker is a workhorse.

 

[WDW_fan_in_TX]

That's my plan. To pay off the loan, keep making he monthly payments on my CCs when they're due and create a savings account. But like I said, it's not my choice really although I'm going to try my hardest to convince her that's what we should do.

There shouldn't be any new cookware or deposits foe a trip. The loan needs to be paid in full with the remainder going to savings. Work on paying everything off on time and then adding to your emergency account. Then you can talk about new cookware and saving for a trip, not putting it on a credit card to pay off.

While I realize your actual credit card debt, if I'm remembering correctly, isn't bad, you also haven't been able to make on time payments. Until you guys can make on time payments, no live beyond your means and certainly never take put a payday loan again, you shouldn't be using the credit card period. You need to save up for big purchases, which may be $100 for cookware. But you need to have this money saved before making big purchases period.

 

[Tygerlilly]

we also want to make a down payment on our next Disney trip for December of this year or spring 2025).

So, the new cookware I can understand, especially if you've been cooking more at home. New pans always make me excited to cook things.

I have an honest question though. You want to put a deposit down on a Disney trip for some point in the next year. How are you paying for the trip when you're living paycheck to paycheck now and not making your minimum payments? What good will putting a deposit down do when you literally cannot afford the actual trip?

Get the loan paid off, get some money in savings after that, and then as a reward for accomplishing some goals, THEN book Disney. Make it the motivation to knock all this stuff out.

 

[piglet1979]

we used to live right near a pfaltzgraff outlet-i loved that place. their stuff does last forever-i still have some of the small rectangular tray like plates that they used to manufacture for airlines.

I got Pfaltzgraff dishes when we got married. We broke every single dish within 5ish years. Now I have Corelle. I am on my second set but we still have several of the last set but have broken some of those too. I am not sure what we do with our dishes that we brake them so often.

 

[barkley]

i am sorely tempted once my current dishes go south to just pull my china out to use for everyday. the stuff is microwave safe, my dishwasher has a china setting-and the reality is neither of my kids have the slightest inclination to have them passed on.

 

[DisneynBison]

That's my plan. To pay off the loan, keep making he monthly payments on my CCs when they're due and create a savings account. But like I said, it's not my choice really although I'm going to try my hardest to convince her that's what we should do.

I give you props for putting your situation out there for all to see please don't take this the wrong way. I just don't get it though. You seem to have the intellect to talk about the right decision then comes the but after you post the right decision. Your significant other is putting you in very tough positions. You have the opportunity to take a windfall and make good financial decision with it. Paying off the crazy high interest loan has to be done. There is no other option that should even be contemplated. Then making sure you are paying your credit cards on time has to be the next thing done with the money. You are only getting out of this one way and that is to spend the bare minimum and to put everything to get the debt payed down. Then after that wants can become a option. Disney or new pans should be a goal but not putting money to them until CC and payday loan are gone.

This is going to be harsh but your significant other needs to be on board or you are not going anywhere in your financial life. Put together a written out plan and talk it over with her. It will be a tough discussion but it needs to be done. You are in a crazy deep hole the only way out is to first stop digging. We (the people on this board) know you can do it but its time to start making good decisions and start by getting rid of that payday loan.

 

[ruadisneyfan2]

I got Pfaltzgraff dishes when we got married. We broke every single dish within 5ish years. Now I have Corelle. I am on my second set but we still have several of the last set but have broken some of those too. I am not sure what we do with our dishes that we brake them so often.

Dh is hard on dishes. He’s like a bull in a china shop. Sometimes I have to cover my ears when he is emptying the dishwasher.

I got over it really quickly once we had ds27 and dh started cooking. They still sell our pattern so I have bought a few replacement plates, bowls, covered butter dishes, and a gravy boat.
Their quality has gone downhill over the years and they no longer have the made in USA stamp on the bottom.
Same thing with our Oneida flatware. A few get ground up in the garbage disposal each year and every now and then we buy more but this last batch looks very different from the previous ones. Pretty soon the stuff at the dollar store will start looking better.

 

[pblack]

My DH and I purchased some dinner plates and bowls from the dollar tree when we got our first apartment together 10 years ago and those dishes are still going strong. like I'm seriously impressed with how well they've held up. I haven't bothered to get rid of them since I don't see the point. We do have another set of dinner plates we got as a wedding gift, they don't match the dollar tree set, but most of the time it's only my DH and I so im not bothered they don't match lol.

 

[barkley]

But the bigger/biggest news is we got our taxes filed. We have enough to completely pay off our loan shark loan and have a little left over for us to spend together (we want some new cookware because we've had the same set since we got married in 2005 and we also want to make a down payment on our next Disney trip for December of this year or spring 2025). We would have enough to do all of that.

However, the wife doesn't want to fully pay off the loan. She wants to pay $500 on it (to leave about $300 left to pay) then take the extra, buy what was discussed in the last paragraph then put whatever extra is leftover into a savings account in case something happens (washing machine goes out, need new tires, other emergencies). I'm still trying to talk her into paying the loan completely off and then that would give us approximately $170 every 2 weeks to bank into savings, but I may not win that one. But I can also see her point because it would start the savings account immediately.

just want to say-

if you are looking at a tax refund that puts $500 on the loan, pays for the new dishware and a down payment on a disney trip AND leaves enough over for an emergency fund you might want to consider changing your withholdings.

if you have to live paycheck to paycheck and risk being unable to pay the rent let alone debt payments having an extra hundred or two per month could go a long way (even $50 or $100 per month could make a huge difference).

 

[StitchesGr8Fan]

That's my plan. To pay off the loan, keep making he monthly payments on my CCs when they're due and create a savings account. But like I said, it's not my choice really although I'm going to try my hardest to convince her that's what we should do.

My blood pressure went up reading your update. New pans? A Disney trip? She won’t let you pay the loan? You two are BROKE. Can’t pay your bills on time. She doesn’t NEED a Disney trip. She doesn’t NEED new pans. You both need to pay your bills, including the debts you agreed to. You are never getting out of debt with her “I deserve this” mindset and your “I’m afraid to tell her no because she will have a tantrum” mindset.

 

[Tygerlilly]

i am sorely tempted once my current dishes go south to just pull my china out to use for everyday. the stuff is microwave safe, my dishwasher has a china setting-and the reality is neither of my kids have the slightest inclination to have them passed on.

I saw this on one of my YouTube channels I watch, but the lady goes to goodwill and other thrift shop for her dishes. They're usually inexpensive and you can find some really nice ones.
I always had plastic plates for the kids because I didn't want them to break real ones, but I'm gonna grab a set of dishes from the thrift store and we're going to enjoy and use them without guilt.

I also saw a post on Facebook one day that said something about not waiting for a special occasion to use the good China. Being alive is pretty dang special as it is. I love that.

 

[barkley]

I saw this on one of my YouTube channels I watch, but the lady goes to goodwill and other thrift shop for her dishes. They're usually inexpensive and you can find some really nice ones.
I always had plastic plates for the kids because I didn't want them to break real ones, but I'm gonna grab a set of dishes from the thrift store and we're going to enjoy and use them without guilt.

I also saw a post on Facebook one day that said something about not waiting for a special occasion to use the good China. Being alive is pretty dang special as it is. I love that.

our local thrift shops stopped accepting them as donations b/c they were overloaded when people started purging stuff. it breaks my heart to go in and see boxes of beautiful dinner and salad plates priced at 10 cents each and being marketed as shooting targets.

 

[firefly_ris]

My blood pressure went up reading your update. New pans? A Disney trip? She won’t let you pay the loan? You two are BROKE. Can’t pay your bills on time. She doesn’t NEED a Disney trip. She doesn’t NEED new pans. You both need to pay your bills, including the debts you agreed to. You are never getting out of debt with her “I deserve this” mindset and your “I’m afraid to tell her no because she will have a tantrum” mindset.

Right. There is a huge psychological aspect to finances and couples HAVE to be on the same plan and mindset or it's just not ever going to change. Obviously I don't know them, but just from purely going by what is written, that payday loan will get taken care of, and another one will get taken out because lessons are not really sinking in. I think there was a suggestion of making the Disney trip a tangible end goal in order to tackle the debt in a more serious way, which could be a good starter. Some people are really visual learners -- maybe starting with an actual physical poster board in the house with incremental goals and a magnet or something that can be physically moved along as progress is made. Maybe once she realizes that goals can be achieved without going into debt for it, it could motivate her to want to look at preparing and sticking to a monthly budget and all that.

 

[Tygerlilly]

our local thrift shops stopped accepting them as donations b/c they were overloaded when people started purging stuff. it breaks my heart to go in and see boxes of beautiful dinner and salad plates priced at 10 cents each and being marketed as shooting targets.

I feel like our local shops don't have much, mainly because half the city is below poverty here (its either far below or way above. There's really no middle class in my city). But, when I go down into the big city, there's so much. Full beautiful 16-20 pc sets for $10. We have these weird square plates we hate currently, so I'm thinking of donating or giving them away and buying the pretty ones from the thrift stores.