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Zan's Credit Journey


Zanshiro
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Another (more on-time) accountability update time:


CC Debt 0% floats: 18,550 currently (Will have one more flip to do around January 2021, but then it should be clear coasting)

Mortgage: 104.5k @ 15 years (Was refi'ed 3mo ago along with HELoC at 2.35% NFCU, now paid 3 mos ahead for good cushion and personal preference)

Used car loan: Paid off

Cabinet loan: Paid off

 

Emergency accounts/investment rebuild: ~6k liquid, 49.5k various 401ks  (Work prime -27k Roth, 2.5k standard), 15k (TD Ameritrade mix Roth/Trad 401k), 5k M1 Finance Roth.  12k @ 3% 48 month CD w/3 months to release.  

Still thinking currently to apply the 12k and knock out most of the remaining CC debt as 0% offers are currently unlikely to remain with decent amounts, as Citi and WF have thus far proven.  That should come out at worst interest-losing, but at best, it's less stress and if 0% offers remain thin, saving interest in the long game.  Also, the new CD rate would very much suck. -_-;  (As is, I was liking the $60-ish into the high-interest account quarterly, but I suspect it not to be worth it next.)  Current FICO 08s:  789 TU/790 EQ/790 EX

 

Estimate on full bathroom renovation and foundation repairs range from 8.9k to 12k, so I'll assume the higher end of that -- 24 mo loan would be about 500/mo which is doable, but if I can put that on a 0% offer CC would obviously beat loan interest.  Time and opportunity will tell where that one goes.

 

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1 hour ago, Zanshiro said:

Another (more on-time) accountability update time:


CC Debt 0% floats: 18,550 currently (Will have one more flip to do around January 2021, but then it should be clear coasting)

Mortgage: 104.5k @ 15 years (Was refi'ed 3mo ago along with HELoC at 2.35% NFCU, now paid 3 mos ahead for good cushion and personal preference)

Used car loan: Paid off

Cabinet loan: Paid off

 

Emergency accounts/investment rebuild: ~6k liquid, 49.5k various 401ks  (Work prime -27k Roth, 2.5k standard), 15k (TD Ameritrade mix Roth/Trad 401k), 5k M1 Finance Roth.  12k @ 3% 48 month CD w/3 months to release.  

Still thinking currently to apply the 12k and knock out most of the remaining CC debt as 0% offers are currently unlikely to remain with decent amounts, as Citi and WF have thus far proven.  That should come out at worst interest-losing, but at best, it's less stress and if 0% offers remain thin, saving interest in the long game.  Also, the new CD rate would very much suck. -_-;  (As is, I was liking the $60-ish into the high-interest account quarterly, but I suspect it not to be worth it next.)  Current FICO 08s:  789 TU/790 EQ/790 EX

 

Estimate on full bathroom renovation and foundation repairs range from 8.9k to 12k, so I'll assume the higher end of that -- 24 mo loan would be about 500/mo which is doable, but if I can put that on a 0% offer CC would obviously beat loan interest.  Time and opportunity will tell where that one goes.

 

Thank you for taking the time to post updates.  It's great seeing your successes along the way.   :) 

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I like it, keeps me accountable to myself on my goals, too.  But it's amazing to see the skyrocketing now that it's just me in the house.  Gas+Electric was down to $112 in summer months, and this past month was $52.  Oh, what a difference and so financially freeing!  That's an extra $150/mo towards paydowns, and accelerating things.  My "Treat" to myself is likely to be in this remodel, going for a 'luxury' sauna/bath similar to the one below, just have to figure which fits and makes the most sense :D

https://findyourbath.com/collections/steam-showers/products/mesa-905-steam-shower-60l-x-33w-x-85h

905-main_1024x1024_6d73a432-20f9-40df-b033-62fd5fd3f0be_1400x.jpg?v=1595871274

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  • 2 months later...
7 hours ago, Zanshiro said:

One thing I do like seeing on Personal Capital...

kS3k2c9.png

 

I do exactly this in Excel.

 

I encourage everyone to measure and manage this metric, beginning immediately (if you aren't already) and over the long term. 

 

It's a lot more important than how much you spent on utilities last April.

 

 

 

Edited by cv91915
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I'm a long-time Personal Capital fan.  Simply one of the greatest free financial aggregation and analysis websites.  (While available from most any account aggregator, I love that I can take a weekly peek to make sure that upcoming bill payments due are in hand.)

 

My "Net Worth" chart is a frightful sight just now, thanks to a somewhat botched rollover of a $600k+ 401-k.  The money's been out of the market since Dec 19 with a foul up just about every step of the way (funds transfer should have taken just 3 business days!)

 

Funds should finally be available for reinvestment tomorrow.  Forgive me if I keep my fingers crossed for a mini market meltdown today!

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7 hours ago, cv91915 said:

 

I encourage everyone to measure and manage this metric, beginning immediately (if you aren't already) and over the long term. 

 

It's a lot more important than how much you spent on utilities last April.

 

Hey now.  How much I spent in utilities last April has a direct correlation to how much savings I was able to put away.  Don't overly dissuade utility savings :P  (Yes, I know you're partly joking)

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  • 1 month later...

Guess I'm a bit late on my quarterly updates...I suppose I should make them tri-annually instead?


CC Debt 0% floats: 11,550 currently (Hopefully can get these zeroed with a few good commissions before need to next flip happens, 12m and counting)

Mortgage: 104k @ 15yr initial @2.35% 

Bathroom Loan: 2.9k @ 6.99% (pre-rebate) remaining - down from 10.9k, accelerated paydowns with the longer term for cushion "just in case"

 

Emergency accounts/investment rebuild: ~9k liquid, 55.7k various 401ks  (Correction from last post, too, with amounts roth vs regular) Work prime -19k Roth, 8.5k standard), 17k TD Ameritrade - 12k Roth/5k IRA, 11.2k M1 Finance - 10k Roth. 1k IRA, 200 taxable (Required for referral, lulz).  12k @ 1.55% 12-month CD w/11 months to release (I forgot to cancel the auto-renew and payoff cards, but meh.  But the interest rolls into the 4.85% savings, so I'm not really mad -_-).  

Current FICO 08s:  791 TU/795 EQ/793 EX

 

As this loan is paid off and cards are cleared, will take next steps of fixing house further, but from a better position.  Nothing else is "must fix" right now, as I like living in the fixer-uppers as they get worked on and then sell and go.  I did let my PT job go for the time being as I'm looking to move into a new job with the changes that have hit at my primary workplace.  So that's a bit of a limit to 'hustle income' but hopefully get situated somewhere new following my degree soon, and can pick up a PT afterwards again.

Edited by Zanshiro
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14 hours ago, Zanshiro said:

Guess I'm a bit late on my quarterly updates...I suppose I should make them tri-annually instead?


CC Debt 0% floats: 11,550 currently (Hopefully can get these zeroed with a few good commissions before need to next flip happens, 12m and counting)

Mortgage: 104k @ 15yr initial @2.35% 

Bathroom Loan: 2.9k @ 6.99% (pre-rebate) remaining - down from 10.9k, accelerated paydowns with the longer term for cushion "just in case"

 

Emergency accounts/investment rebuild: ~9k liquid, 55.7k various 401ks  (Correction from last post, too, with amounts roth vs regular) Work prime -19k Roth, 8.5k standard), 17k TD Ameritrade - 12k Roth/5k IRA, 11.2k M1 Finance - 10k Roth. 1k IRA, 200 taxable (Required for referral, lulz).  12k @ 1.55% 12-month CD w/11 months to release (I forgot to cancel the auto-renew and payoff cards, but meh.  But the interest rolls into the 4.85% savings, so I'm not really mad -_-).  

Current FICO 08s:  791 TU/795 EQ/793 EX

 

As this loan is paid off and cards are cleared, will take next steps of fixing house further, but from a better position.  Nothing else is "must fix" right now, as I like living in the fixer-uppers as they get worked on and then sell and go.  I did let my PT job go for the time being as I'm looking to move into a new job with the changes that have hit at my primary workplace.  So that's a bit of a limit to 'hustle income' but hopefully get situated somewhere new following my degree soon, and can pick up a PT afterwards again.

 

I always love reading your updates.  It's great watching you conquer your goals!  :) 

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  • 10 months later...

As for the now-annual updates, because well, new job and changes but fun and progress.


CC Debt 0% floats: 8,500 fresh through 03/2023 currently 

Mortgage: 97.9k @ 15yr initial @2.35% 

Bathroom Loan: paid off

 

Emergency accounts/investment rebuild: ~6k liquid, 71k various 401ks  were consolidated so I can ALMOST get to that bonus CV styled with BofA and that nice rewards card, which I did pick up.  Roth IRA: 45k, Traditional 15k, ForEx/Commodity account to learn:  2k.  Currently about 1900/mo liquid to invest.  That said, with the credit scores likely in the 800+ range again (8,500/19,000 limit on the one card at 0%) and 8,500/597,000 overall util) 

 

What's the best move from here?  I just maxed my 6k to my Roth contribution for this year, so that's all set.  My personal line of thinking is to try to max out the 17k 401k contribution next, which I have about 50/50 split of my current 7% there.  Mind you, this job's currently about a 50% pay cut from my last job, until I get all the licenses and such required to promote.  But it's in my degree field and I enjoy it.  That said, should I try to bump that up to about 20% withholding and see how it goes from there as best practice?


Current FICO 08s are adjusting as the 12.5k CD came out, and only 1 CC remains, so I'll update this later.

 

Took new job, such my limits on posting now, but now working in the finance field which I've wanted to do since I was a wee pup.  :)  

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Since it wouldn't add image for me, let's try a new post.   This one commemorates my time on CB, ignore that first major-down, that's when it wasn't factoring home value into the net worth.  And there's a high up-hump near 2019 when I refinanced where it showed paid off like two months before the new one got updated....but other than this, this is trending positively, so it's a mark just to show people that if you make a plan, and stick to your plan...you WILL get there.spacer.png

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12 hours ago, Zanshiro said:

Since it wouldn't add image for me, let's try a new post.   This one commemorates my time on CB, ignore that first major-down, that's when it wasn't factoring home value into the net worth.  And there's a high up-hump near 2019 when I refinanced where it showed paid off like two months before the new one got updated....but other than this, this is trending positively, so it's a mark just to show people that if you make a plan, and stick to your plan...you WILL get there.spacer.png

Oh and it feels so good doesn't it.

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  • 1 month later...

Final update for foreseeable future -- FICO's now ALMOST 800+ across the board.  TU & EQ both here....however, that odd EX irregularity where they don't show my 2nd oldest card (No longer active, though the other two still show it) apparently makes about 11 points difference, as EX slacking off at 799. Ah well, I'll take that as my 'problem' to deal with.

 

spacer.png

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  • 1 month later...

Making credit work for you moment:  Took a $10k @ 0% cash advance/$0 fee BT, put it into an I-series govt bond.  8%+ return for the 0% investment to pay off before the end of the time period.  Nothing like making $800 with other people's money and next to no effort....I need more arbitrage in my life like that.  But, probably will drop the score into the 780 range.  Oops?  :D

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