Comments on: Our Minor Windfall http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/ Our Journey to a Debt-Free Life Sun, 21 Mar 2010 12:23:03 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: danielle http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-446971 danielle Wed, 09 Apr 2008 02:51:03 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-446971 oops, I meant 1599 oops, I meant 1599

]]> By: danielle http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-446968 danielle Wed, 09 Apr 2008 02:50:24 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-446968 Hmmm...What about taking $1596 out of savings and putting it towards your debt? You'd still have $1609 in savings.... C'mon, you know you want to... Hmmm…What about taking $1596 out of savings and putting it towards your debt? You’d still have $1609 in savings…. C’mon, you know you want to…

]]> By: Tricia http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-446791 Tricia Tue, 08 Apr 2008 23:28:44 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-446791 Thanks everyone! About the blog once our credit card debt is paid off...I'm not sure where to go from there. We will still have student loans and credit cards, but it really depends on what is happening in my life at the moment. I'm pretty sure I don't want to borrow any money so I can keep blogging about my debt ;) danielle - thanks for the head's up! I've been playing around with some stuff and I forgot to put my savings total back. It'll be back in a bit. Thanks everyone!

About the blog once our credit card debt is paid off…I’m not sure where to go from there. We will still have student loans and credit cards, but it really depends on what is happening in my life at the moment. I’m pretty sure I don’t want to borrow any money so I can keep blogging about my debt ;)

danielle – thanks for the head’s up! I’ve been playing around with some stuff and I forgot to put my savings total back. It’ll be back in a bit.

]]> By: danielle http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-446704 danielle Tue, 08 Apr 2008 22:06:12 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-446704 I vote for doing the same thing with the student loans. They are debt, too. Tricia, what happened to the savings? It used to be right under your debt amount... I vote for doing the same thing with the student loans. They are debt, too.
Tricia, what happened to the savings? It used to be right under your debt amount…

]]> By: pj http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-445547 pj Tue, 08 Apr 2008 15:03:23 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-445547 Please keep the same lifestyle after blogging away your last dollar of debt. Put the savings into an couple of index funds, preferably the low cost ones of Vanguard, and start living of dividends and capital gains. Assuming you keep on saving 20000$ per year and knowing you can withdraw 4% of uour portfolio to still keep up with inflation, you would have the following 'extra's' each year: 1s year: 800$ 2nd year: 824$ + 800$ 3rd year: about850$ + 824$ + 800$ And so on... (3% inflation is assumed) Keep on doing this and you will become truly financially free. Think of it as buying your time. Anyway, good luck, whatever you decide to do! Please keep the same lifestyle after blogging away your last dollar of debt. Put the savings into an couple of index funds, preferably the low cost ones of Vanguard, and start living of dividends and capital gains. Assuming you keep on saving 20000$ per year and knowing you can withdraw 4% of uour portfolio to still keep up with inflation, you would have the following ‘extra’s’ each year:
1s year: 800$
2nd year: 824$ + 800$
3rd year: about850$ + 824$ + 800$
And so on…
(3% inflation is assumed)

Keep on doing this and you will become truly financially free. Think of it as buying your time. Anyway, good luck, whatever you decide to do!

]]> By: Eva in TX http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-445065 Eva in TX Tue, 08 Apr 2008 13:09:35 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-445065 Congrats. You continue to inspire . . . :-) Congrats. You continue to inspire . . . :-)

]]> By: CanadianKate http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-444660 CanadianKate Tue, 08 Apr 2008 11:29:08 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-444660 Here's a solution for those of you who want Tricia to keep blogging away her debt... Tricia should borrow $35,000 to buy an investment portfolio and then she could blog away that debt. (Given the markets right now, I don't really want her to do that, but she could pretend to do that and we wouldn't know the difference!) Here’s a solution for those of you who want Tricia to keep blogging away her debt… Tricia should borrow $35,000 to buy an investment portfolio and then she could blog away that debt.

(Given the markets right now, I don’t really want her to do that, but she could pretend to do that and we wouldn’t know the difference!)

]]> By: Mimi http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-443430 Mimi Tue, 08 Apr 2008 04:49:24 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-443430 Oh, I am SO excited for you guys! That is the most wonderful news in the world...and for us to be able to share it with you, even better! Oh, I am SO excited for you guys!

That is the most wonderful news in the world…and for us to be able to share it with you, even better!

]]> By: Mrs. Micah http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-443200 Mrs. Micah Tue, 08 Apr 2008 02:05:24 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-443200 Fantastic! :) Down into 4 figures from $30k...wow. Fantastic! :) Down into 4 figures from $30k…wow.

]]> By: Frugal Dad http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-443172 Frugal Dad Tue, 08 Apr 2008 01:46:16 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-443172 You need to set up a mini celebration for the day that payment posts that put you under $10k. Next stop? Freedom! Keep it up! You need to set up a mini celebration for the day that payment posts that put you under $10k. Next stop? Freedom! Keep it up!

]]> By: arduous http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-443042 arduous Tue, 08 Apr 2008 00:09:03 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-443042 That is AWESOME news Tricia! You are always an inspiration!! That is AWESOME news Tricia! You are always an inspiration!!

]]> By: naughtylittledebt http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442837 naughtylittledebt Mon, 07 Apr 2008 22:17:27 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442837 Yeah for Tricia! Great job! I love reading about your success. It really is what I needed to hear today! Yeah for Tricia! Great job! I love reading about your success. It really is what I needed to hear today!

]]> By: Jesse http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442721 Jesse Mon, 07 Apr 2008 21:39:00 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442721 Excellent job, the amount of have paid off is really unbelievable! Excellent job, the amount of have paid off is really unbelievable!

]]> By: Law Student http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442630 Law Student Mon, 07 Apr 2008 20:05:13 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442630 I disagree with HS. I DO hope you pay off your credit card debt soon. You really really deserve it. However, I also hope (perhaps selfishly) that you won't cut ties with the blog world when you do, but will keep us up to date on your retirement saving and student loan payoff, which I assume would be next. Congratulations! I disagree with HS. I DO hope you pay off your credit card debt soon. You really really deserve it. However, I also hope (perhaps selfishly) that you won’t cut ties with the blog world when you do, but will keep us up to date on your retirement saving and student loan payoff, which I assume would be next.
Congratulations!

]]> By: Jim ~ mydebtblog.com http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442623 Jim ~ mydebtblog.com Mon, 07 Apr 2008 19:20:22 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442623 Good job, the 4 figure mark is almost there. Faster the debt is gone the easier it is to actually save and keep money in your hands. Good job, the 4 figure mark is almost there. Faster the debt is gone the easier it is to actually save and keep money in your hands.

]]> By: Esther http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442604 Esther Mon, 07 Apr 2008 17:16:13 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442604 You should increase your number of tax exemptions so that you are not giving the government an interest-free loan with your tax overpayment--plus you get a bit more money each paycheck. I think it is far better to owe a little bit of tax rather than getting a tax refund. You should increase your number of tax exemptions so that you are not giving the government an interest-free loan with your tax overpayment–plus you get a bit more money each paycheck. I think it is far better to owe a little bit of tax rather than getting a tax refund.

]]> By: Joe @ SimpleDebtFreeFinance.com http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442601 Joe @ SimpleDebtFreeFinance.com Mon, 07 Apr 2008 16:38:45 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442601 Don't fret so much about the equipment... consider this: When you sold that piece of equipment, and put that money toward your debt you received the interest rate's worth of return - if that's 12% on a credit card then you just made a 12% return on that money! I hope that makes the sale a bit more sweet than bitter :) Don’t fret so much about the equipment… consider this:

When you sold that piece of equipment, and put that money toward your debt you received the interest rate’s worth of return – if that’s 12% on a credit card then you just made a 12% return on that money!

I hope that makes the sale a bit more sweet than bitter :)

]]> By: Nine Circles http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442594 Nine Circles Mon, 07 Apr 2008 16:28:40 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442594 This is amazing progress. You're going to have to start thinking about what you'll blog about when you're finally debt-free! This is amazing progress. You’re going to have to start thinking about what you’ll blog about when you’re finally debt-free!

]]> By: Vered@MomGrind http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442590 Vered@MomGrind Mon, 07 Apr 2008 16:20:24 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442590 Great news! And, it's great to see someone using their tax refund to reduce their debt rather than to buy more STUFF. Great news!

And, it’s great to see someone using their tax refund to reduce their debt rather than to buy more STUFF.

]]> By: danielle http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442582 danielle Mon, 07 Apr 2008 15:42:44 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442582 I am really happy for you. I can't wait to see it under 10K. Got anything else you can sell? I am really happy for you. I can’t wait to see it under 10K. Got anything else you can sell?

]]> By: My Daily Dollars http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442578 My Daily Dollars Mon, 07 Apr 2008 15:20:36 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442578 That's great. . . Those milestones really keep one going. I'm really impressed with your discipline! That’s great. . . Those milestones really keep one going. I’m really impressed with your discipline!

]]> By: justine http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442573 justine Mon, 07 Apr 2008 15:01:45 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442573 Equipment isn't something to be used for selling when you are "in a pinch." That's a poor person's mentality. Plus, it's a depreciating asset. The better plan - which you are on - is to sell the item and put it toward debt or put the money in a savings account for when you're in a pinch. Congratulations on the continued debt reduction and on making smart choices with money! Equipment isn’t something to be used for selling when you are “in a pinch.” That’s a poor person’s mentality. Plus, it’s a depreciating asset. The better plan – which you are on – is to sell the item and put it toward debt or put the money in a savings account for when you’re in a pinch.

Congratulations on the continued debt reduction and on making smart choices with money!

]]> By: HS@OurDebtBlog http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442563 HS@OurDebtBlog Mon, 07 Apr 2008 14:24:21 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442563 Please don't pay it off too quickly. Some of us depend on you for success! HS Please don’t pay it off too quickly. Some of us depend on you for success!

HS

]]> By: Jen http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442561 Jen Mon, 07 Apr 2008 14:05:55 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442561 Awesome! It will feel soooo wonderful when your debt falls below 5 digits :D Awesome! It will feel soooo wonderful when your debt falls below 5 digits :D

]]> By: Ryan http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442560 Ryan Mon, 07 Apr 2008 13:59:17 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442560 What is crazy is to think what if you keep the same mentality once you pay off your debt - saving $26,000 in one year!!! What is crazy is to think what if you keep the same mentality once you pay off your debt – saving $26,000 in one year!!!

]]> By: twiggers http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442554 twiggers Mon, 07 Apr 2008 12:50:48 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442554 WOW WOW and triple WOW Tricia! That is fantastic!!!! Good for you guys :-) WOW WOW and triple WOW Tricia! That is fantastic!!!! Good for you guys :-)

]]> By: Dedicated http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/comment-page-1/#comment-442553 Dedicated Mon, 07 Apr 2008 12:49:28 +0000 http://www.bloggingawaydebt.com/2008/04/our-minor-windfall/#comment-442553 Seems like just yesterday, your credit debt was above $30k. Amazing how the balances fall so fast now. You guys are doing awesome! Seems like just yesterday, your credit debt was above $30k. Amazing how the balances fall so fast now.

You guys are doing awesome!

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