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Beach Bum posted:This. If I look at my Net Worth graphs in the default 3mo span I feel like I'm getting little headway. Then I look at my year and Even those times where the networth graph looks flat you're still making progress, and the most critical thing of not going backwards. Remember it always seems slow paying off debt at the start but the repayments start accelerating (assuming there are interest charges in there).
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May 2, 2020 23:02
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Credit card debt is now under $10k after hitting a high of $18k in September 2019. Refinanced house and appraisal came in really high as well. Monthly payments lowered about $150 a month and we'll save about $50k over the course of the mortgage. I had enough equity after putting %10 down 2 years ago that my $20 PMI drops November of 2021. So all in all we've had a good run and things are looking up. Also built savings account to $10k for the first time since I bought my house.
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May 5, 2020 22:08
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It has been several weeks since my last takeaway. I'm still a fat fucker but I am a slightly wealthier fat fucker.
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May 7, 2020 21:10
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Been a while since my last update. Last June my employer moved office and created an insane commute for a lot of folks, so I’ve started working from home four days a week. When I had to go in on the fifth day, it was roughly double my old commute, but still overall I’m saving about 60% of fuel and maintenance stuff. Late fall of last year some shenanigans took place at my day job, but said shenanigans then resulted in my getting a pay bump from $83k to $100k, plus a $2k retention bonus if I stay with the company through at least the end of June. I’m also working with a therapist for a variety of reasons, but one of which is my emotional problems related to food. Between that progress and the whole pandemic thing going on, I’m doing better at meal planning and may get to a point soon where I can do it reliably instead of once or twice a month before loving up. Also also, I think since this is a three paycheck month, I’m gonna be able to knock out two credit cards on either this Friday or the next payday two weeks after.
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May 12, 2020 02:39
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I'm waiting to open palm slam the payment until June since I'm moving at the end of the month and need to make sure there isn't any security deposit/post-move "cleaning fee" or something like that, but I'm officially in three digits on my last student loan ($991.83) and ready to blast that sucker as soon as I'm fully moved out.
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May 13, 2020 23:48
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Power of Pecota posted:I'm waiting to open palm slam the payment until June since I'm moving at the end of the month and need to make sure there isn't any security deposit/post-move "cleaning fee" or something like that, but I'm officially in three digits on my last student loan ($991.83) and ready to blast that sucker as soon as I'm fully moved out. Be ready for the security deposit thing, read your local rules around it and follow them. It likely says you have to ask for various things in writing, set calendar reminders about them. If they screw up, depending on their attitude, offer to settle for 100% or 300% of your security deposit back. Most rules summarize to something not unlike "reasonable fees" and "itemized bill" and "30 days" sorta stuff. A friend of ours managed to get a 300% settlement out of her slumlord because he was being a huge jerk instead of a more reasonable few hundred less than 100% for "professional cleaning service." You don't need to go nuclear up front, but a plainly worded letter hitting the key elements of the law is all it takes, this is a business relationship.  on the student loans.
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May 13, 2020 23:58
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 Doubling my comp. 
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May 14, 2020 02:13
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leper khan posted:
Congrats.
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May 14, 2020 02:19
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leper khan posted:
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May 14, 2020 04:34
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leper khan posted:
aww yea
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May 14, 2020 14:13
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leper khan posted:
Aww yes! It's a good feeling
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May 14, 2020 14:34
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Bought my first house 6 months ago, and now finally managed this  Just a short 12 months now to complete my 10 years of payments under PSLF and I'll have my student loans forgiven too. Feels good man.
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Jun 1, 2020 14:10
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Way to go. The feeling in 12 months is going to be super.
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Jun 1, 2020 15:00
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Just paid off my student loan, am officially debt free, and also hit six digit net worth a few months back. The last year has been pretty poo poo but financially, it's been pretty great for me - started a new job in August that was a 100% increase in total comp, paid off my student loan, still comfortably saving for a mortgage, maxing out all my retirement accounts, etc. Here's hoping nothing goes off the rails!
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Jul 3, 2020 18:49
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Chaotic Flame posted:Just paid off my student loan, am officially debt free, and also hit six digit net worth a few months back. The last year has been pretty poo poo but financially, it's been pretty great for me - started a new job in August that was a 100% increase in total comp, paid off my student loan, still comfortably saving for a mortgage, maxing out all my retirement accounts, etc. Here's hoping nothing goes off the rails! Awesome!
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Jul 3, 2020 19:15
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Congrats on the new job and not spending all your raise on funko pops!
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Jul 3, 2020 19:25
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Chaotic Flame posted:Just paid off my student loan, am officially debt free, and also hit six digit net worth a few months back. The last year has been pretty poo poo but financially, it's been pretty great for me - started a new job in August that was a 100% increase in total comp, paid off my student loan, still comfortably saving for a mortgage, maxing out all my retirement accounts, etc. Here's hoping nothing goes off the rails!
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Jul 3, 2020 19:47
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Chaotic Flame posted:Just paid off my student loan, am officially debt free, and also hit six digit net worth a few months back. The last year has been pretty poo poo but financially, it's been pretty great for me - started a new job in August that was a 100% increase in total comp, paid off my student loan, still comfortably saving for a mortgage, maxing out all my retirement accounts, etc. Here's hoping nothing goes off the rails! hell yeah brother
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Jul 6, 2020 00:02
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Today I hit what I think is a bit of a milestone. I've reduced my balance enough to have under $100 in interest, $96.91. Since May 2019, I have paid down $7543.09, current average of $538.79/mo. Yeah most of my gains are "three check" months, and that $1200 of Trumpy Fun Bux certainly didn't hurt, but I was still able to take those windfalls and throw them in the hole. That's a win to me! Next month I'll have paid off one of the BT cards, and will be throwing another $3500 at another BT offer on the same card. I'm almost certain that by the end of August I'll have cleared all interest-bearing unsecured debt, definitely will by the end of September. After that, I'll get back to strict Rule 4 implementation (you can see where I toyed with that in early 2020, but decided the extra interest load was too much) and start paying extra on the car note to clear it away. No timeline on that yet, it's a bit far out and I'd like to see how my situation looks in September before setting anything in stone. Beach Bum fucked around with this message at 16:45 on Jul 14, 2020 |
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Jul 14, 2020 16:41
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Beach Bum posted:Today I hit what I think is a bit of a milestone. I've reduced my balance enough to have under $100 in interest, $96.91. Since May 2019, I have paid down $7543.09, current average of $538.79/mo. Budgeting for 24 checks and getting 26 checks and being diligent is a great way to knock out debt. Good job sticking to your plan.
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Jul 14, 2020 17:10
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Beach Bum posted:Today I hit what I think is a bit of a milestone. I've reduced my balance enough to have under $100 in interest, $96.91. Since May 2019, I have paid down $7543.09, current average of $538.79/mo. Hell yeah man this is incredible
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Aug 5, 2020 11:52
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Just broke 50k net worth the end of last month!!! I've really been doing so much better the last couple of years. I filled my 3 month emergency fund in cash last month too, I'm contributing 8 percent plus 4 percent match to my 401k (as of July, was 6 percent plus match before that), and 400/month to my IRA. Technically I should have maxed my Roth contribution first but I have great fund options in my 401k and I want to get in the habit of increasing it year on year. Next move is gonna be to wipe out my student loans. I've been saving the money from what would have been my payments in a savings account during the interest deferral and I'm gonna make a lump sum payment in September/whenever interest deferral stops. The money that was for emergency savings (minus a nominal 50/month that's gonna keep going in to the account) is now going to the student loan. I also have a sizeable travel/fun savings fund, but once I hit my target on that I'm gonna be deferring those savings to my student loan as well. It's low interest but I want it gone. Should be done by middle of next year, then shooting for 6 months on the emergency fund. It took me a while to get a real handle on my finances, but everything is clicking really well now. This forum has helped me so much with financial stuff, thanks for all the free advice over the years!
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Aug 6, 2020 14:49
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Minor update, but exciting nonetheless: First credit card statement with no interest charges! Not really sure how, as I hadn't paid the card to zero yet, but they certainly weren't there. 5k (was once 13.8k) left to go. Beach Bum fucked around with this message at 04:39 on Aug 17, 2020 |
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Aug 17, 2020 04:33
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Beach Bum posted:Minor update, but exciting nonetheless: First credit card statement with no interest charges! Not really sure how, as I hadn't paid the card to zero yet, but they certainly weren't there. Well done!
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Aug 17, 2020 18:27
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Beach Bum posted:Minor update, but exciting nonetheless: First credit card statement with no interest charges! Not really sure how, as I hadn't paid the card to zero yet, but they certainly weren't there. Usually the interest bearing portion is paid last, but I've had credit card companies make mistakes before with interest. So a win is a win. There have been some great updates here over the past two months.
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Aug 17, 2020 21:15
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Beach Bum posted:Minor update, but exciting nonetheless: First credit card statement with no interest charges! Not really sure how, as I hadn't paid the card to zero yet, but they certainly weren't there. That's a great chunk taken out and you're so close to finishing it off! Congratulations 
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Aug 19, 2020 14:21
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I now need 2 commas in my "assets" category in mint, and my overall net worth isn't far off from needing an extra comma as well. 
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Aug 28, 2020 19:26
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DJCobol posted:I now need 2 commas in my "assets" category in mint, and my overall net worth isn't far off from needing an extra comma as well. Good problems to have.
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Aug 28, 2020 19:51
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DJCobol posted:I now need 2 commas in my "assets" category in mint, and my overall net worth isn't far off from needing an extra comma as well. Are you Russ Hanneman?
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Aug 29, 2020 06:35
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Beach Bum posted:Minor update, but exciting nonetheless: First credit card statement with no interest charges! Not really sure how, as I hadn't paid the card to zero yet, but they certainly weren't there. Yup I am officially in "Pay statement in full" territory with 1000+ left in Checking. Only remaining items with interest are the mortgage (3.75%) and car note (5.84%). Goddamn, that feels good. Not quite ready to put it on autopay but drat close. Happy/sad but this will go even faster now that I've canceled my 401k contribution, due to my cash-strapped company canceling 401k match  [DISCLAIMER: THIS IS AN EDGE CASE YOU SHOULD ALMOST ALWAYS CONTRIBUTE TO GET FULL MATCH]Some of this "extra" is probably going to get dumped into funding IT certs for my imminent career shift, but everyone else that's gotten canned in the last few years has gotten a nice severance package, so I'm going to attempt to ride it out. Also finding another 40k job with a mere high school diploma has proven... difficult, to say the least. Beach Bum fucked around with this message at 20:09 on Sep 7, 2020 |
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Sep 7, 2020 19:40
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Beach Bum posted:Yup I am officially in "Pay statement in full" territory with 1000+ left in Checking. Only remaining items with interest are the mortgage (3.75%) and car note (5.84%). Eh, I make a decent chunk of change without a degree. At some point experience matters more.
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Sep 9, 2020 20:05
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freeasinbeer posted:Eh, I make a decent chunk of change without a degree. At some point experience matters more. Cool Anecdote. Here is the data though: https://www.bls.gov/opub/ted/2019/median-weekly-earnings-606-for-high-school-dropouts-1559-for-advanced-degree-holders.htm
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Sep 9, 2020 20:12
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freeasinbeer fucked around with this message at 01:27 on Sep 10, 2020 |
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Sep 10, 2020 01:18
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Closed on a Refi today. Added about $2700 to my loan but the rate went from 4.75% to 3.125%. It will be like $85000 less in interest over the life of the loan (although doubt it will go that long...). Good times.
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Sep 17, 2020 22:43
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Also just signed closing docs on a refi, going from 3.875 to 2.69 on a 30 yr fixed. No points, ~$2500 in non prepaid costs. Brings the monthly down almost $500 and saves $150k over the life the loan.  These rates are bananas, just last summer when I signed the original mortgage I thought 3.875 was crazy good.
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Sep 26, 2020 01:58
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Guinness posted:Also just signed closing docs on a refi, going from 3.875 to 2.69 on a 30 yr fixed. No points, ~$2500 in non prepaid costs. Brings the monthly down almost $500 and saves $150k over the life the loan. Yeah that is awesome.
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Sep 26, 2020 06:40
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I know you Americans are all pretty happy with your sub-3% mortgages right now, but I just signed on a mortgage that is 1.3% for 2/3 of the loan, with the remainder at 1.81%. Thirty year mortgage with a ten year fixed rate period. I'll be able to change the rate term to thirty years at the same rates in one year. The rate mix is due to some regulatory technicality that allows you to borrow just a little bit more if you hit a certain very specific rate/amount combination. This is in the Netherlands. In Amsterdam, the most bubbly real estate market of the country. So, yes, rates can get even lower. And I will definitely fix those rates for the full term next year, because this party can't possibly go on forever
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Sep 26, 2020 20:18
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I want a bank to give me money for taking a loan and buying a house with it. Let's get into negative costs like that tar-grade oil supply issue earlier this year.
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Sep 26, 2020 23:54
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Sundae posted:I want a bank to give me money for taking a loan and buying a house with it. Let's get into negative costs like that tar-grade oil supply issue earlier this year. Denmark awaits you! -0.5% for a 10 year fixed is a thing there.
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Sep 27, 2020 01:13
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Potrzebie posted:Denmark awaits you! -0.5% for a 10 year fixed is a thing there. drat, I'd move there if I hadn't just bought a new apartment. Free money is a hell of an offer
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Sep 27, 2020 12:57
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