Putting off big plans to pay down debt?

iVillage Member
Registered: 09-20-2004
Putting off big plans to pay down debt?
16
Fri, 01-20-2006 - 9:44am

I thought this would be a good question for this board:
What big plans, if any, are you putting off right now in order to pay off debt? Do you expect the circumstances to change in the next couple of months, or is it more of a long term thing??

Looking forward to what others have to say on this!!

Heather

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Avatar for endomagazine
iVillage Member
Registered: 11-09-2004
Fri, 01-20-2006 - 9:58am

Hello,

For the last 2 years, my husband and I have put off going on an Italy trip that I've wanted since graduating from college. This year, I decided to set up a freedom account for it and start putting away a little money. It's just $10 a month so far, but as our debt is paid off, I'm sending 10% of any snowflakes to that savings account.

I've realized that it may take us 5 years to pay off debt, but if I put away some money for the expense, then it won't *add* to our debt if we decide to take the trip with the saved money. If some emergency requires that money, we can use it for something else, but as long as we're steadily reducing the debt, I don't feel guilty about saving a little here and there for the trip.

Sincerely,
Lindsey Schocke

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Sincerely,
Lindsey Schocke

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iVillage Member
Registered: 12-05-2004
Fri, 01-20-2006 - 10:29am

We're putting off buying Dh's "Dream" item. He wants an HDTV, bigscreen TV. Just not in our budget right now. He's willing to wait until Christmas, unless an unbelievable, unpassable offer shows up between then and now. :-D

Pat :-D

iVillage Member
Registered: 06-18-2004
Fri, 01-20-2006 - 10:32am

We are putting off investing in retirement/college savings accounts. I have a deal with DH, once we pay off our ccs and my van, then we will take 1/2 of the money and put it into retirement accounts, and the other 1/2 we will snowflake to his SUV. Then after the SUV is paid off, we will concentrate on kids' college accounts. The kids' college accounts aren't as important because my mother has already started college savings for them--Thanks Mom!

Kellie

iVillage Member
Registered: 10-09-1999
Fri, 01-20-2006 - 10:40am

We have been putting off doing some upgrading in our kitchen. I have a big beautiful kitchen but would love new counter tops. We have 19 months to be debtfree except the house (we are working on a parent plus loan for sons college & a pickup loan). I also think we put off vacationing, although we have done a couple mini vacations & paid for them with cash. It will be interesting to see what we end up doing when we get to the point of paying off the house...& saving for retirement. Maybe I'll want to live with my kitchen for a few more years even then.

cindylee

iVillage Member
Registered: 10-10-2005
Fri, 01-20-2006 - 10:50am

Right now I putting off a few things until I can get my debt under control.

First I am ready to start a family. But until this debt is paid down no baby for me. I figure in two years, I will be in a much better position financially.

The second is I would like to start my own business. Right now, I'm selling of a bunch of stuff on Half.com and Ebay which I will probably continue to pursue even after I'm done selling off my stuff and have dug myself out of debt because I am having a lot of fun with it. The grand plan though is to buy rental properties. I also have a degree in accounting so I may begin doing taxes as well.

I would also like to buy a house. It will be several years before I am ready to do this as well. I'm planning on buying a duplex and renting one side of it out.

And of course, there is the nice vacation I would like to take my Mom on. She always pays for vacation for both of us so it will be nice once I'm financially sound to be able to take her somewhere nice where she doesn't have to pay.

iVillage Member
Registered: 03-27-2003
Fri, 01-20-2006 - 11:32am

Can I say all of the above? LOL

1) We live in a 1920's bungalow that was probably updated in the mid-1970's. I've done some painting but would like to do a lot more. Not now though!

2) We would love to take the kids to visit Eric's aunt in England. They live a couple of blocks from the seashore plus we would do some time in London.

3) DH wants an big screen TV

Those are all the big things! Oh, editing to say I have no desire to add more children so the baby thing isn't on my list.

Taleyna

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Fri, 01-20-2006 - 11:58am

Hmmm....you know - that's why I'm IN this position - we haven't waited on a lot.

iVillage Member
Registered: 07-27-2005
Fri, 01-20-2006 - 12:39pm

Goodness, we are putting off several things. The most important to me is a new van but the next is a new deck since ours is practically falling down, it wasn't well built when the house was built so now we need to replace it. We also need new flooring on our main floor, we had to cut out some of our carpet because of dry rot near one of the deck doorways, the carpet started to smell so we had to cut it out. All of the things we want are going to be a few years down the line.

Cristin

iVillage Member
Registered: 09-20-2004
Fri, 01-20-2006 - 12:54pm

I have been putting off having another child for a very long time...not just because of money, but because of lifestyle, too. But I am starting to think more and more about it, as I will be 30 this year, and my kids are already 6 and 9. I just don't know if I can wait another 2 or 3 years. LOL!!!
And then there is disney, which we should be putting off, but won't, since it will be infinitely more difficult to do once I am taking care of my Dad. we should be saving money once we are out there, so I hope it works out. Getting out of debt has been an incredibly slow process for us, partly because we don't cut enough corners, partly because some things we go ahead and do for the sake of the "big picture" even if we can't really afford it (chasing dd's therapy).
It is great to know that I am not alone in all of this....

Oh, and Becky I love how you put it about us not being in this situation if.....
That is so me!!!

Heather

iVillage Member
Registered: 09-12-2005
Fri, 01-20-2006 - 1:50pm

I want to take my little princess to Disney world or Disney land. I personally don't care which one I go to. But Alyssa (5) is just the right age, and I want to take her while she still believes that those girls in costumes are the real Princesses. I really really really want to take her.

Sarah

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