New year,new resolve,new username

iVillage Member
Registered: 12-16-2012
New year,new resolve,new username
7
Sun, 12-16-2012 - 5:31pm

Finally got a new acct up and running....ridiculous what I had to go through. I used to be tally707. Anyhoo.....I am trying think about some new goals for the year. I had great success last year with some fitness resolutions so I am hoping the same this year for finances.

Some thoughts:

Use more cash instead of whipping out debit card.

Of course paying off as much cc debt as possible....starting with Home Depot card payoff in January:)

keep strict budget and hold myself more accountable 

post here....even if no one is reading lol.....it helps me to blog stuff~ the accountability thing again

what are your new year goals?

Michelle

iVillage Member
Registered: 04-10-2003
Sun, 12-16-2012 - 8:22pm

This is my third attempt to post. I really hate this stupid site and if I didn't love everyone here I would have said "screw it" ages ago.

Good for you for re-committing! I like your plan!I think I need to refocus my energies as well, so I will be on board with you for a New Years resolution!

So currently, here are the totals:
Student Loan $19k (down from $23K at the beginning of last year); 6.25% (variable) with $275 payment monthly
Car Loan, $7k (down from $10,500 last year); 0.9%, bi-weekly payment of $140
LOC: $12,500 (down from $13,500 last year), 3.5%(variable) minimum payment of $35 (but I am actually paying $150 a month)

There have been a lot of reports from the credit agencies that say Canadians are carrying more debt than any other time in history! The Bank of Canada has also been warning that the interest rates will go up eventually, so I think its time for me to really focus and get this debt paid off. I have over $30K of debt that is variable and therefore could go up at anytime!

So my plan:

Rework the budget. I need to increase my weekly spending money to keep up with inflation (haven't increased it in 5 years) and the result is that I keep running back to the CCs when I don't have enough for. I also need to budget more money for me so that I stop running to the CCs. Its time to get realistic!

Target the LOC: Ideally I would be able to half this this year, but I would be happy to knock off another $4K.

I have no CC debt and plan to keep it that way!

Thanks for starting this post! We can do this!


Bex -

iVillage Member
Registered: 04-10-2003
Mon, 12-17-2012 - 10:47am

Duplicate!


Bex -

iVillage Member
Registered: 10-01-2008
Mon, 12-17-2012 - 2:52pm

Same old stuff....just another day of trying to post a comment.  I had to try to log in four times!  It's a wonder we have not lost everyone from the past.  

Good to hear from you Tally!  A new year will bring us all new hopes and goals.  Maybe we can all make some good progress this year.  

Good to hear from you to Bex!

Avatar for mahopac
iVillage Member
Registered: 07-24-1997
Mon, 12-17-2012 - 3:52pm

It's definitely not too early to think about New Year's goals and resolutions!

I want to get our spending into line in 2013.  We didn't go into debt, but we may not have enough to do all the things we were planning to do (home improvements, travel, etc.) in 2013 because we spent too much in 2012.  I didn't pay close enough attention this year to our spending.  I want to get my *and* DH's thinking back in line with reality.  Among other reasons, I feel that our spending is making us too comfortable and self-satisfied; this should never be the case when there are too many other people in want.

I've had a will sitting unsigned on my desk for over a year now.  Unfortunately the family members we assigned as guardians to our remaining minor son have separated, so we now need new ones. 

I think that's it - better planning, more careful spending, and new custodians for our son should the unthinkable happen.

Kelly

iVillage Member
Registered: 12-31-2010
Mon, 12-17-2012 - 5:06pm

Kelly, Bex, Karen, Tally and all,

Good job for thinking about 2013!  and still being here with this truly delapitated site.

I ran some numbers on Friday that flabergasted me - our net worth increased by about $100k since 2010.  Now that is a 20% increase, and much more than I thought it would be.  Also, the value of our property increased by at least 10% on top of that as the values here are increasing.  We have been working so hard to pay things off, I didn't look at the numbers.  But we made our goal this year and did so while stocking things in DH's 401k like crazy. 

Sometimes it feels like we are falling backward, but I looked and there are bills I have paid off - like DH's company CC, or all the CCs I had, that we no longer have.  I have paid off over half of my student loan for my MBA, and almost all of my gall bladder surgery deductible.  YES, it feels like I barely have 2 nickles to rub together some days, but all that scrimping has paid off when I look at the big picture instead of the trees.

Working on commission is scary for me as I have no constant income and DH's income does not cover all the bills, so things could be tougher before they get better.  Dh has to pay $125 or more for health care this year since his company was sold and they now have a smaller pool of employees.  I have dipped into our emergency fund for the holidays and DH did get the new truck, so I am hoping and praying for a good year.

That said, kids area also over half done with college and we have done more than our part so far.  The day they are on their own, with their own cell phones, health care and car insurance will be a day we will celebrate!  I think Norma is done with her count down before we are.

I look back the last 4 years and I always had at least a really strong 6 month plan by this point and here I sit with nothing and 2013 is staring me in the face.  Too many unknowns to make a plan - my income, our new housepayment (we refinanced but rolled taxes and insurance into escrow), DH's new company and higher healthcare - possibly no bonus or raise?

Instead, for the first time, I am putting my head in the sand - come get me when the snow thaws.

-Marie

 

#Marie
iVillage Member
Registered: 11-14-2008
Tue, 12-18-2012 - 12:41pm

Hi Tally, 

Good for you for getting back on the board and back on the wagon! Your goals are great! All very achievable sounding!

I would like to say that we would pay off our truck loan and my roof loan this year! I am aiming high! They might not happen but if we try we might come darn close.

1. Truck Loan is 5,655 in a few days. Now that doesn't sound like too much but we are also saving for a house and might have a major farm expense that I don't even have a price on yet.(I hate not having a price) So we will see. With regular payments it will be close to be gone anyway. We only started this 20,000 loan in August 2011 so this is pretty good, and I am happy with it as we have put a lot extra on it already and I am not even working, haven't worked for 6 months.

2. The roof loan for my store started at 30,000 in July 2011. I put 7,000 on it right away because I didn't need it all bringing the total to 23,000. December's payment came out today bringing it to 12,968.96. I have been fortunate enought to put a few flakes on it. It is possible to have this gone in 2013 but that is a pretty lofty goal. We will see!

3. Go back to work, possibly keep that new savings account going for a house.

I was pretty excited, I increased my retirement savings contribution by $10 a month. Not much, but not bad for not working either. Hubby got a nice little raise this month too. 

I think 2013 is gonna be good! I can't believe we just have that truck loan left for consumer debt! Wow have we ever come a long way!

Bex I know what you mean about that bank rate! I am terrified it will go up before I can pay off my roof loan and get started on paying down my credit line. That would make a huge difference and everything so much harder! I hope that you reach your goal with your LOC. Love that your SLs continue to drop. Don't come up with 50 new things to do in 2013--ride this out, pun intended!

Marie--you have come so far like you said with the net worth gauge. I often forget to calculate that once in awhile. But wow, next year will be better off even with regular payments. Kids will be done in a couple of years then. watch. you. go!

Norma--that BK is getting a big ole punch in the face in 2013! You will be paying extra on your mortgage in no time flat!

Serenity. I have a good feeling about 2013 for you. I can't wait till you get your tax return, dying to find out what you will do with it. Is your rig repair loan paid off in 2013?

Kate: I MISS YOU! Can someone please email her!!!! Tell her to come back!

PB: Love is going to go up and debt is going down bro!

Miss my nurse friend. I hope you found a solution for your house, and possibly husband. Just kidding. I hope the wedding went well for your son.

Mary Anne: hope all is going smoothly for you and your health.

Stormy--could be lots of new opportunites with a new business? Good luck with your research and paying off debt because that is all going to help the dream!

kt-hope your daughter contines to dance and have activities, hopefully this will be the year DH gets on board with paying off debt, but you are doing pretty well on your own.

Tracy arryl: hope 2013 brings you luck with your new goals/plans/dreams. Those three girls are all so pretty!

Oh I'm sure I have forgotten some, Merry Christmas and good luck with all your goals for 2013!

Avatar for poorboy2011
iVillage Member
Registered: 10-02-2011
Wed, 12-19-2012 - 2:20pm

Thanks for the well-wishing, Karen. I don't know that love is going to go up. I sort of have a date this week, though I'm not hopeful. But I actually have better control over my debt.

Does anyone know of a way to contact Kate outside of this forum? It looks like she hasn't logged in in a long time. I'm afraid something might have happened to her.