Debt Dumpers - 2017

[DisneyMandC]

I don't like to get a lot back either. Last year we each got just under $500 and it looked like we'd get $1000 back, so about the same spot. I just thought, I'll go with it and mess with it in January, then check it a couple months in. Plus I'll have to change my 401k then anyways, because if I work OT like I did in 2016 I'd be maxing it before my raise or bonuses, and if I work OT like I did this year I'd be way over (I'm projecting 225 more hours this year with the weekends coming up). Good problems to have at least?

I messed my withholdings up a few years ago. I had worked two part time jobs, one averaged 35ish hours a week at $10, and the other averaged 15 hours a week at $8. The W4 form confused me, and I think I filled out both as if I had only one job so I had too little withheld. I ended up owing $1300. And to add insult to injury, my dad had claimed me as a dependent so the $3k I paid in tuition out of my own pocket didn't count for anything.

On a positive note, when tax time rolled around again I realized that my dad shouldn't have claimed me because I didn't fit any of the conditions. I filed an amended return and got $1000 back, plus interest on it which was about $50. Though they counted that interest as income the following tax year... it's a never ending cycle!

Ugh, my worst nightmare! I'm always so anxious about filing. DH and I file separate due to my student loans, so I get to claim half of our mortgage interest, but none of my student loan interest. We still come out (several thousand dollars) ahead, but I'm always worried I'm going to get a dreaded letter from the IRS in the mail. It won't be the end of the world if I owed a couple hundred, and DH usually gets a decent amount back and it all goes in the same pot once it gets here.

 

[belleelc77]

Ok, so rough couple of weeks. My boss cut out all overtime for the rest of the year, our department is WAY over budget. So, that was the money I was using to pay down my debt. Which of the following would you recommend to offset? I'm not really fond of either option and am trying to find a 2nd job instead, but just in case.

#1 - to refi my students loans - paid 1.5 years out of 10, refi would be for 20 years cutting my monthly payment in half - save $100/month but would be paying a lot longer
#2 - stop contributing to my 401k - save $150/month

 

[Jen and Ashwin]

Ok, so rough couple of weeks. My boss cut out all overtime for the rest of the year, our department is WAY over budget. So, that was the money I was using to pay down my debt. Which of the following would you recommend to offset? I'm not really fond of either option and am trying to find a 2nd job instead, but just in case.

#1 - to refi my students loans - paid 1.5 years out of 10, refi would be for 20 years cutting my monthly payment in half - save $100/month but would be paying a lot longer
#2 - stop contributing to my 401k - save $150/month

Do not stop paying towards your 401k. It is better to spread out your students loans and make extra payments towards them when you can to bring down your debt.

 

[Eureka]

@Jen and Ashwin I was just coming here to see if you're still hanging in there. (I know, you are probably so sick of having people ask that). So now I see you are Thinking about you all...

 

[Eureka]

Ok, so rough couple of weeks. My boss cut out all overtime for the rest of the year, our department is WAY over budget. So, that was the money I was using to pay down my debt. Which of the following would you recommend to offset? I'm not really fond of either option and am trying to find a 2nd job instead, but just in case.

#1 - to refi my students loans - paid 1.5 years out of 10, refi would be for 20 years cutting my monthly payment in half - save $100/month but would be paying a lot longer
#2 - stop contributing to my 401k - save $150/month

Can you refinance your loans and maybe cut your 401K contributions somewhat if you need the cash? Don't stop putting in altogether because you'll have to make it up later. If you refi your loans, then later maybe you can make extra payments to not have to pay longer.

 

[Jen and Ashwin]

@Jen and Ashwin I was just coming here to see if you're still hanging in there. (I know, you are probably so sick of having people ask that). So now I see you are Thinking about you all...

Funny you mention this since I am actually at the hospital now and have been since 6am. Lots of down time waiting for things to progress unfortunately. I started leaking before contractions started and had to head in before I would have liked. Not how I wanted things to go but hoping everything turns out alright.

 

[CoP Luv]

Funny you mention this since I am actually at the hospital now and have been since 6am. Lots of down time waiting for things to progress unfortunately. I started leaking before contractions started and had to head in before I would have liked. Not how I wanted things to go but hoping everything turns out alright.

I read this board a lot but never comment...

This is exactly how things went with our first. I didn't feel a single contraction until I was about 9 hours in. It was long, but everything turned out just fine. Hugs!

 

[amalone1013]

Funny you mention this since I am actually at the hospital now and have been since 6am. Lots of down time waiting for things to progress unfortunately. I started leaking before contractions started and had to head in before I would have liked. Not how I wanted things to go but hoping everything turns out alright.

I was really hoping for the 13th

 

[Gr8t Fan]

Funny you mention this since I am actually at the hospital now and have been since 6am. Lots of down time waiting for things to progress unfortunately. I started leaking before contractions started and had to head in before I would have liked. Not how I wanted things to go but hoping everything turns out alright.

Good luck! Things usually don't go according to plan where kids are concerned, but that's the joy of being a parent.

 

[DnA2010]

Funny you mention this since I am actually at the hospital now and have been since 6am. Lots of down time waiting for things to progress unfortunately. I started leaking before contractions started and had to head in before I would have liked. Not how I wanted things to go but hoping everything turns out alright.

I keep checking back too...for news
Everything will turn out just fine x mine started very slow also, hang in there, it may be a long haul - we are thinking of you!

 

[dclpluto]

Ok, so rough couple of weeks. My boss cut out all overtime for the rest of the year, our department is WAY over budget. So, that was the money I was using to pay down my debt. Which of the following would you recommend to offset? I'm not really fond of either option and am trying to find a 2nd job instead, but just in case.

#1 - to refi my students loans - paid 1.5 years out of 10, refi would be for 20 years cutting my monthly payment in half - save $100/month but would be paying a lot longer
#2 - stop contributing to my 401k - save $150/month

Never stop your 401k. NEVER

 

[Ngwira]

Funny you mention this since I am actually at the hospital now and have been since 6am. Lots of down time waiting for things to progress unfortunately. I started leaking before contractions started and had to head in before I would have liked. Not how I wanted things to go but hoping everything turns out alright.

Best wishes for a smooth delivery.

 

[DisneyMandC]

Funny you mention this since I am actually at the hospital now and have been since 6am. Lots of down time waiting for things to progress unfortunately. I started leaking before contractions started and had to head in before I would have liked. Not how I wanted things to go but hoping everything turns out alright.

Exciting!! Thinking of you and hoping everything goes smoothly and everyone is healthy. I know this has been a long journey for you and your DH!

 

[Grumpy's Gal]

Funny you mention this since I am actually at the hospital now and have been since 6am. Lots of down time waiting for things to progress unfortunately. I started leaking before contractions started and had to head in before I would have liked. Not how I wanted things to go but hoping everything turns out alright.

 

[Jen and Ashwin]

Asha Liliane
Born Oct. 12 at 1:28 am
7 lb. 6 oz.

 

[DisneyMandC]

Asha Liliane
Born Oct. 12 at 1:28 am
7 lb. 6 oz.

Beautiful!!!! Congratulations to you, how wonderfully exciting!

 

[Jen and Ashwin]

Beautiful!!!! Congratulations to you, how wonderfully exciting!

Thanks! I will have to post another picture later. She has a crazy great head of beautiful black hair.

 

[amalone1013]

Asha Liliane
Born Oct. 12 at 1:28 am
7 lb. 6 oz. View attachment 276446

Congratulations! I love her name! How exciting! Also, I will be waiting to see her great head of hair, I love that

 

[Eureka]

Asha Liliane
Born Oct. 12 at 1:28 am
7 lb. 6 oz. View attachment 276446

Congrats Mommy!! My sister had a friend named Asha when we were growing up. I always thought it was such a pretty name. So excited for you. Now the fun really begins Enjoy your time off, even though the days will drag, the weeks will fly.

 

[Judique]

Asha Liliane
Born Oct. 12 at 1:28 am
7 lb. 6 oz. View attachment 276446

Now that I have grandchildren and can appreciate babies again, I must say she is a beautiful doll! Congratulations to both you and Ashwin! Now, get some sleep while you can.