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Gazpacho posted:Quick aside: Don't forget about the cards. You haven't shown their current rates but they are also high-rate debt that would normally have priority over moderate-rate debt. Definitely. And I apologize to the thread for being a bit of a dumbass, but there's currently $1800 in credit card debt after paying that last card. I should have double checked before posting. I forgot we used one of them for gas and misc expenses when driving from Nashville back to Reno (that was our final trip). As far as I can tell we'll be able to knock out all of that on the 22nd and possibly put our first payment towards the RV. 
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Jun 17, 2019 17:56
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I'm curious where you got the mentality of throwing away money on rent at $1500 a month, because by my math you're throwing it away on rent to a bank thusly: Truck $755 (2014 f150 fx4?) Trailer $375 Storage unit $95 RV Parks? $600 (4/19) $1825 You're not saving any money by doing this. When you aren't illegally living somewhere I assume that's where RV park rent comes from? A coworker of mine lives in an RV in a park and has an F150 and he's paying roughly that too. Also LOL if you think you'll save money by buying a house. Even my paid off house costs me money in HOA, property tax, and insurance. Principal and interest were literally $300 of an $1100 house note.They vaporize money faster than anything I've ever seen aside from airplanes. I sense you're already getting belligerent with people pointing out the obvious that you dun goofed. It's not roadside BBQ like you wanted, but you're right there in the realm of Bad With Money.
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Jun 17, 2019 17:58
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Holy crap Knyteguy you dug your hole way deeper financing a truck and an RV on terrible terms. Here is my one and only earnest post for you in your new BFC thread: - Research and document your net worth in 2016 when you abandoned your last thread. - Document your net worth today. - Find a therapist who will look at these documents, tell you you have a problem, and agree to work with you on improving your problem.
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Jun 17, 2019 18:12
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BloodBag posted:I'm curious where you got the mentality of throwing away money on rent at $1500 a month, because by my math you're throwing it away on rent to a bank thusly: Our truck and trailer expenses don't go away if we rent an apartment, the apartment just adds to our expenses. Correct on the living 'illegally'. If we can't live in a backyard then yes we'll need to add RV park rent to it or live in a bedroom (still for free). If we stick to the plan then it may not be a problem; if it is I'll work out something. I'm not trying to save money on a house at all. I don't consider a home you live in an investment; on the contrary probably. That's why I put a probably asterisk on the OP re: buying a home. Property taxes here are probably some of the lowest in the country and are capped to a maximum 3% growth every year, but conversely the homes are expensive.
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Jun 17, 2019 18:13
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Yikes, KG, I remember your first thread and this was NOT the update I was hoping for.
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Jun 17, 2019 18:33
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man there's nothing quite like being $80,000 in debt and choosing to roam the country in an RV it's a real rush
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Jun 17, 2019 18:36
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Thumbtacks posted:man there's nothing quite like being $80,000 in debt and choosing to roam the country in an RV Cause I'm freeeeeeeeee Freeeee falllllling
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Jun 17, 2019 18:42
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Knyteguy posted:Nah that's true but not as bad as it sounds. I work remotely, and we've been traveling and seeing the country RVing for the past year and a half with our kid, hence the RV and truck. During that time we hit up 25 states, got some hella good Nashville hot chicken, had some Santa Fe chile dishes, watched a Detroit Lion's game in Detroit, got some Texas barbecue, camped on gulf beaches, camped on lawns, went to Monterey Bay Aquarium, l saw an rear end-ton of national and state parks, saw a manatee take a poop in the gulf, and went deep sea fishing next to some dolphins in Florida. Pretty cool! this is a vacation for people with money. even ignoring all the events you went to, how much do you think you spent on gas RVing around the country for a year and a half let alone food
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Jun 17, 2019 18:50
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i like that KG thinks his financial picture has improved
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Jun 17, 2019 18:51
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He has money. The bank gave it to him.
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Jun 17, 2019 18:51
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Thumbtacks posted:this is a vacation for people with money. even ignoring all the events you went to, how much do you think you spent on gas RVing around the country for a year and a half let alone food I don't need to tell you how much I think I spent. We tracked it. January 2018 -> April 2018 (15 months) $4,400 plus another $500 or so for the last leg on the credit card on fuel. $3,705 on RV parks $5,000 on groceries $3,500 on restaurants
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Jun 17, 2019 18:56
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You're nearing your mid 30s and you've got a negative net worth. You're in a far worse position than Zaurg is/was - just something to contemplate. I'd wager you're seriously overvaluing your trailer. The one you linked says very little use, you've been living full time in yours and stinking it up by being a smoker and having dogs in it. Asking the bank that already is carrying the note on your RV to lower your rates probably won't get you very far. When was the last time you pulled your credit? You should start shopping ASAP to find out if you can get a better loan for it. There are other people that are faster at calculating retirement numbers, but you should probably be saving at least 15% of your net income. Do either of your jobs offer retirement benefits? Do they match contributions? If you are not opting into those now, you need to get on it. Are you going to create a budget? If not, how are you going to control your spending?
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Jun 17, 2019 18:57
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now do RV + truck payment and insurance
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Jun 17, 2019 18:57
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KYOON GRIFFEY JR posted:now do RV + truck payment and insurance Yep. Was going to say the same thing. And maintenance/repairs.
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Jun 17, 2019 19:20
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I like how in his head the really dumb thing kg did was open the thread.
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Jun 17, 2019 19:23
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KG thread 2019: in debt for the rest of my life, but I once got to eat Nashville hot chicken
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Jun 17, 2019 19:26
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Knyteguy posted:17% on the RV is due to credit being a bit too low during financing. So what’s considered a good rate on an RV loan as opposed to “credit a bit too low?” And what led you to decide taking on a 17% loan was the correct move for you over other options you had?
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Jun 17, 2019 19:30
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Duckman2008 posted:KG thread 2019: in debt for the rest of my life, but I once got to eat Nashville hot chicken I’m most likely missing something in this thread but if dude actually has 5000/mo to put to debt payment it seems like it’d be not horrifically hard to get out of debt in about two years. Still kind of hosed for a 35 year old with a family but out of debt.
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Jun 17, 2019 19:46
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WithoutTheFezOn posted:I’m most likely missing something in this thread but if dude actually has 5000/mo to put to debt payment it seems like it’d be not horrifically hard to get out of debt in about two years. Still kind of hosed for a 35 year old with a family but out of debt. If he focuses you’re probably right, I just couldn’t resist the title.
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Jun 17, 2019 19:58
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IllegallySober posted:So what’s considered a good rate on an RV loan as opposed to “credit a bit too low?” And what led you to decide taking on a 17% loan was the correct move for you over other options you had? I’m not sure. Dave Ramsey sometimes suggest taking a personal loan out to cover the difference on a upside down car loan and selling the thing. Any thoughts on that avenue?
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Jun 17, 2019 23:19
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Knyteguy posted:I’m not sure. Currently just under 6% would be "good". Knyteguy posted:Dave Ramsey sometimes suggest taking a personal loan out to cover the difference on a upside down car loan and selling the thing. Any thoughts on that avenue? Depends on the rate you can get for what you need. Go find out and tell us. If you can get a decent rate for enough to unload that truck and buy a beater and it allows you to pay it down inside of a year you might be on to something. I never suggest people try to borrow their way out of debt, but you are just so full of bad decisions while making a decent amount of money that this just might work IF and only if you can stick to a plan.
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Jun 18, 2019 00:24
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Get the house then let them repo your poo poo and pay cash for everything since you can't get any more loans. I mean they'll come after you for the difference but whatever. Seriously though if you have decent credit still try and get a sub 10% rate on that RV to save some money and start killing that loan with a fever I'd toss anything you can at loans and credit cards etc and then for the love of God start investing in retirement. tater_salad fucked around with this message at 01:40 on Jun 18, 2019 |
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Jun 18, 2019 01:26
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I never thought I’d see the type of person who chooses to swap their grey nomad period of life with their dynamic late 20s-30s but here we are. KG you gone done hosed up in a big way and it’s time to pay the piper. Strongly restrict your spending, shovel money into the loans from highest to lowest, and think up some way to extract yourself out of your illegal living situation. The last part matters because it’s a risk which would normally not be too bad but for you would be ruinous because you literally can’t afford the alternatives. Living in your parents’ spare room as a 30 year old with a wife, kid, two cats and two dogs is not the answer holy gently caress.
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Jun 18, 2019 04:08
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Nam Taf posted:I never thought I’d see the type of person who chooses to swap their grey nomad period of life with their dynamic late 20s-30s but here we are. Yep, gotta pay for the past 2 years now. I don't really care from like a pride perspective about living with my family at 30. It's not uncommon in Asia even while married, and I'm a millennial most people already think I'm a bum anyway. It's a really difficult choice to continue staying in the RV, don't get me wrong. But we have a strong safety net; we'll be ok. My family talked me out of an apartment at the last minute - we were very close to getting a 2BR (with free gigabit internet dammit) but they said save your money while being aware of the situation. My grandma would put some BFC posters to shame with how she handles money, and she has our best financial and other interests in mind. Maybe I'll reconsider when we take care of everything but the truck or something though (3-4 months). Alright so I got around to combining the concept budget with our actual budget:  "Category Name ($x)" is the format, $x is our regular budgeted amount. This should be good month over month. This month, as shown, we'll be putting $3,812 towards debt total. That's about $1,200 shy of our goal, but we're also a paycheck short so we're roughly on track. Dynamic and fun money is high this month, but we weren't using our new budget yet. The values in green are what I'll hold the family (including myself obviously) to from this point forward. The debt pay down fund for the remainder of the month will be allocated as $1,800 to the credit cards, and $700 to the RV (on top of the $357 payment). Give or take if my wife's paycheck numbers are off (it will be really nice to know exactly what numbers we're working with). I thought my wife was paid semi-monthly like I am, but it's a bi-weekly pay period. I may need to adjust the budget slightly to account for that, but there was like $90 in wiggle room so I'll see what ends up happening. Knyteguy fucked around with this message at 05:51 on Jun 18, 2019 |
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Jun 18, 2019 05:42
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What’s up with that debt pay down line? It seems to say that 2595 - 751 = 2509
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Jun 18, 2019 05:56
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WithoutTheFezOn posted:What’s up with that debt pay down line? It seems to say that 2595 - 751 = 2509 We had some money in there rollover from previous months, so that's why it looks weird. It should look better next month.
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Jun 18, 2019 06:06
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Knyteguy posted:It's a really difficult choice to continue staying in the RV, don't get me wrong. But we have a strong safety net; we'll be ok. Here's a list of how long those savings would support individual subcategories of your ideal budget:
You do not have a strong safety net. You are well over your head in deep poo poo and by a combination of miracles just happen to have a straw through which to still breathe. You have a frayed safety thread, not a safety net.
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Jun 18, 2019 12:02
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Why is buying a house even on the radar right now? Unless I'm missing something or the housing market where you live is incredibly cheap, you have almost $70k in debt and no savings. If you're going to put any money towards savings, at least stick it into an emergency fund, because $500 isn't going to go far. If you can stick to paying off $5k of debt a month, that's great, and I really hope you can, but right now this thread is giving me palpitations.
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Jun 18, 2019 12:08
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n8r posted:You're in a far worse position than Zaurg is/was - just something to contemplate.   I've seen this movie before.... howdoesishotweb fucked around with this message at 15:00 on Jun 18, 2019 |
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Jun 18, 2019 14:45
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Volcano posted:Why is buying a house even on the radar right now? Unless I'm missing something or the housing market where you live is incredibly cheap, you have almost $70k in debt and no savings. If you're going to put any money towards savings, at least stick it into an emergency fund, because $500 isn't going to go far. Because his grandmother offered to gift him 40k for a downpayment if he gets his poo poo together and manages to save another 20k himself. Since then, he's just moved farther away from that goal.
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Jun 18, 2019 15:14
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howdoesishotweb posted:
  That's a reeal nice surprise Clark. E: to actually contribute. Didn't you finance a Corolla when you went dark during the last thread? I take it you rolled negative equity into the F150 in order to get the loan value that high? Isn't that a 2014 FX4? I saw it posted ages ago. 
BloodBag fucked around with this message at 15:36 on Jun 18, 2019 |
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Jun 18, 2019 15:28
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i dunno how i missed this but the homie has 45k in truck debt after paying $750/mo on it for how many years? dude, how much truck did you buy and why on earth did you do it? i go on the ford website and spec out a max tow package f150 supercrew short bed with the EcoBoost V6 and still only get to $48k
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Jun 18, 2019 15:46
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KYOON GRIFFEY JR posted:i dunno how i missed this but the homie has 45k in truck debt after paying $750/mo on it for how many years? dude, how much truck did you buy and why on earth did you do it? Yeah I really expected this to be a f250 super duty diesel....
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Jun 18, 2019 16:01
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KYOON GRIFFEY JR posted:i dunno how i missed this but the homie has 45k in truck debt after paying $750/mo on it for how many years? dude, how much truck did you buy and why on earth did you do it? The part I don't get is how that truck is $45k without negative equity. Because it can only be a 2014 at the newest, since they switched to the new aluminum bodystyle in 2015. Also I have that same trim (FX2) with a 5.0L V8 and it was $24k used with 62k miles.
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Jun 18, 2019 16:21
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i assume there's a negative equity roll in there somewhere
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Jun 18, 2019 16:58
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KYOON GRIFFEY JR posted:i dunno how i missed this but the homie has 45k in truck debt after paying $750/mo on it for how many years? dude, how much truck did you buy and why on earth did you do it? Seriously, KG, how did this happen?
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Jun 18, 2019 17:08
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Also how did you agree to 17.75% interest on anything let alone an RV? Did you spend any time looking at loan rates? If I go to my Credit Union's website they advertise RV loans starting at 4.24%. And that's after loan rates have gone up. Or did you go to an RV dealer and agree to whatever financing they offered, because you wanted to RV and didn't give a drat about setting boundaries on how much it cost you? No I'm not asking a question I just want to demonstrate your poor decision making 6 years on after starting your first BFC thread.
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Jun 18, 2019 17:18
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Jun 18, 2019 17:21
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 but different
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Jun 18, 2019 17:29
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I like these threads because they always give me the creeping terrors that lead me to make extra car payments and use coupons the next time I go grocery shopping
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Jun 18, 2019 17:41
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