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I’m Over CC9

March 25th, 2019 at 12:49 am

Credit card 9 💳 is really getting on my nerves. I want this sucker paid off. I’m contemplating taking the money saved for any home repairs and adding it to it. I have an EF so if anything happens I can use that. One minute I’m stoked about doing it, the next I’m nervous as hell. 😬

I finally completed my taxes, and hit the submit button. I’m looking at about $633 return. This will be adding to the CC.

The budget meeting with the SO didn’t happen, I was a little disappointed but hey that’s on him. I’m still trucking along on my financial peace journey without him. Something drastic has to happen for him to change. I told him we will continue to live as roommates, splitting everything.

After reviewing and crunching numbers, it looks like I should have both CCs paid off by early September (CC9 should be gone by end of April early May) and from that point on it’s the infamous student loans 👩🏾‍🎓. I’m really hoping to pick up a second job by then.

Lastly, though I follow Dave Ramsey, I never read his book, “The Total Money Makeover.” 📖. I have listened via audio 🔊, but you know how that goes, your cleaning 🧹, doing other things so you’re more likely to miss something. I’m excited to dive in. Last month I finished, Rachel Cruze’s, “Love Your Life, Not Theirs.”
I’m also read a book by Zig Ziegler, that I checked out online at my local library. What’s great about this is, in the middle of the night 🌙 when I can’t sleep 💤, I can read.

Posted in Debt | 10 Comments »

10 Responses to “I’m Over CC9”

  1. creditcardfree Says:
    March 25th, 2019 at 01:44 am 1553478295
    1553478295

    Getting mad at your debt is key to being focused on getting it paid off fast. How much is your EF? How much is your home maintenance fund? How does adding that maintenance fund money to the CC change the payoff timeline?

  2. Amber Says:
    March 25th, 2019 at 02:25 am 1553480740
    1553480740

    CCF I have about $8500 in the EF, and about $650 in the house maintenance fund. I’m thinking If I took this amount and applied it, it may only bump the pay off day by a month, so not too much. Now that I think about it, it may not make a difference. What’s your thoughts

  3. crazyliblady Says:
    March 25th, 2019 at 02:52 am 1553482360
    1553482360

    I would personally leave the home maintenance fund alone and look harder for a second job. The reason I say that is simple. In 2016, I had to replace a water heat, fridge, dishwasher, furnace, and a/c all within 6 months of each other. The fridge, water heater, and dishwasher were all approximately $500 or so each and we had the funds in the house maintenance fund for them. The furnace and a/c were replaced at the same time and together cost around $4500 or so installed. Because we did not have that much saved, we wound up putting it all on one of the credit cards.

    What about things like donating plasma? I used to live in a city where that was easy to do and you could easily earn about $20.00 each time. Surveys? mrrebates.dom? ebates.com? Ibotta.com? Whatever I calculate I have saved on groceries goes towards credit card payoff.

  4. creditcardfree Says:
    March 25th, 2019 at 12:38 pm 1553517517
    1553517517

    I think you have a healthy EF...much better than $1000! If it only saves you a months interest and you have such fear I would likely keep the maintenance fund. And I think you are wise to have money set aside for unknown future repairs that we all know will happen. However, I know that when we paid off debt, sending in extra money was inspiring! I think either way is fine in your situation.

    @crazyliblady, you make excellent points for maintaining the maintenance fund. Could any of the items your replaced in 2016 been repaired rather than replaced?

  5. crazyliblady Says:
    March 25th, 2019 at 02:16 pm 1553523398
    1553523398

    No, none of those items could have been repaired. All were well beyond their expected lifespan. We know for certain that the A/C was well over 40 years old based on the original home inspection when we bought it. We had had a local company out multiple times in 2016 and several before that trying to keep it running until we could afford to replace it. The furnace was also quite old, at least 20 years. The water heater was approximately 15. The fridge and dishwasher were newer, but not in good shape. We had had a local appliance person to look at the fridge and he said the compressor was busted and it would be cheaper to replace it than fix it. I am glad we replaced the fridge, as the new one runs more efficiently and makes less noise. Because we replaced all of those things in such a short time, it made a significant difference in electrical usage and our average payment plan amount went down to about 1/2 of what it was.

  6. crazyliblady Says:
    March 25th, 2019 at 02:18 pm 1553523533
    1553523533

    And the reason we replaced the A/C and furnace at the same time was that they both were in bad need of replacement. The local company we dealt with gave us a special deal to replace both at the same time. We had been anticipating somewhere in the neighborhood of $10K to replace them based on looking at prices for units at Home Depot.

  7. creditcardfree Says:
    March 25th, 2019 at 05:30 pm 1553535052
    1553535052

    @crazyliblady, Wow! Amazing you were able to get 40 years out of that AC. And it is often nice to replace both units at the same time. Our second fridge stopped working and when I went to have it repaired it was over $150, but I know I could not have bought new for that amount.

  8. Amber Says:
    March 25th, 2019 at 11:12 pm 1553555521
    1553555521

    Thanks everyone, I really appreciate your input. I will keep the house fund going and truck away on the debt. I have sold another item on Poshmark, so I’ll add that.

    Crazy lady, I can’t believe you got 40 years out of your AC

  9. crazyliblady Says:
    March 25th, 2019 at 11:32 pm 1553556773
    1553556773

    Well, I can't believe it lasted 40 years, either. I think that speaks to the quality of products as they used to be made. It came with the house when we bought it in 2010. We had it on our "need to upgrade" list right off the bat, but there were several other things that needed repaired or replaced sooner.

  10. rob62521 Says:
    March 26th, 2019 at 02:48 pm 1553611688
    1553611688

    Wow, 40 years on the AC, that is amazing! Quality is job z anymore!

    I agree with everyone, keep the home maintenance fund. You never know what might pop up!

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