Debt Dumpers 2020

[jen7233]

You'll want to see if your state requires it because some do. Your ins will pay put and then if the othet person is at fault they get their money back from that person's ins.

Thanks, I looked and apparently not. Maybe in our next state when we move. However, double checking our auto policy I had declined coverage to it so, not paying for it. There are so many possible elements going into auto insurance to choose or not!

I have a conundrum. No...not really, more of a decision that I need to make by Friday and I'm struggling. So I thought I'd stop by here and see if some opinions will help.

Many of you know that I'm trying to get my feet under me with a second career--an author. My first traditionally published book is coming out in May. That said, I've been contracted to novelize a movie to a book (HURRAY!). Now please understand that I am under no delusion that I'm a J.K. Rowling or Tom Clancy or John Green. But writing is my hobby and it's now starting to pay.

There is a writer's conference in April that's about 4 hours away (driving time). My tax return will be over $3-$4k. (Do NOT talk to me about how I file, please...that's not the point of this) This conference is $1200.

As I posted earlier this month, I went into debt in December. And as I also posted, I will be able to pay it all off by year's end. That was not factoring in the tax returns, which will allow for quicker repayment.

Going to the conference doesn't guarantee any forward movement in my writing career, but I did land my agent by going to this same conference. Also, there are persons involved with the film industry presenting classes. Also, another editor who is looking for the same type of genre that is publishing in May.

My question to pose to you, for opinions (which I may blow off) is this: go to the conference or put that money toward debt? All opinions welcome, other than the ones who chose to grind an ax that I went into debt to begin with. I'm working on that, which is why I'm here.

Money aside, do you WANT to go to the conference? That's how I'd look at it if $1200 isn't something to make or break (which it seems like it is not), do you want to drive four hours, can take the time off from house or work, really desire to meet some of these industry people, and how beneficial will it be at this particular time.

 

[barkley]

I have a conundrum. No...not really, more of a decision that I need to make by Friday and I'm struggling. So I thought I'd stop by here and see if some opinions will help.

Many of you know that I'm trying to get my feet under me with a second career--an author. My first traditionally published book is coming out in May. That said, I've been contracted to novelize a movie to a book (HURRAY!). Now please understand that I am under no delusion that I'm a J.K. Rowling or Tom Clancy or John Green. But writing is my hobby and it's now starting to pay.

There is a writer's conference in April that's about 4 hours away (driving time). My tax return will be over $3-$4k. (Do NOT talk to me about how I file, please...that's not the point of this) This conference is $1200.

As I posted earlier this month, I went into debt in December. And as I also posted, I will be able to pay it all off by year's end. That was not factoring in the tax returns, which will allow for quicker repayment.

Going to the conference doesn't guarantee any forward movement in my writing career, but I did land my agent by going to this same conference. Also, there are persons involved with the film industry presenting classes. Also, another editor who is looking for the same type of genre that is publishing in May.

My question to pose to you, for opinions (which I may blow off) is this: go to the conference or put that money toward debt? All opinions welcome, other than the ones who chose to grind an ax that I went into debt to begin with. I'm working on that, which is why I'm here.

you said you have an agent-what is their opinion on your attending? i know nothing about being an author but isn't part of being an agent connecting you with the right people (ideally not at the cost of a conference fee)? is this a well thought of annual national or regional conference or one of the type that travels from area to area (more of a income source for the panelists)? i ask this b/c dd majored in film and attended a couple of the screen writing focused conferences (fortunately on scholarships from her university) that are held yearly near us only to find that if you scratch below the surface of the resumes of the panelists their primary profession is appearing at these traveling conferences recycling the same advice over and over (and the same presentations can be found for free on youtube).

another option is if there's a a presenter who is of tremendous interest in seeing and there's any college or university with a film program nearby-check to see if the person is doing a presentation at that college. often these presentations are open to the public and free. as for the editor who is publishing in may-is it possible to personally reach out over email or via your agent (i'm assuming if they are interested in submissions for the type of work they publish they must have some mechanism in place).


if you do decide to go-since you will be making some money off writing this year i'm guessing you could write it off on your taxes.

 

[Beachmom0317]

Since we have a 4 month old and don't go out much anymore, my husband and I have been doing a lot of frozen pizza lately! We were thinking about creating a frozen pizza rubric and ranking them all

That would be such a good idea lol! I like the California pizza kitchen ones for thin crust or the digorio pepperoni ones. I think Newman pepperoni is good to but it’s been awhile since I’ve had it!

 

[pblack]

Finally got my w2 tonight. Input all our numbers and we should be getting about $2400 back! This will pay for our cruise and part of our WDW days.

 

[barkley]

Finally got my w2 tonight. Input all our numbers and we should be getting about $2400 back! This will pay for our cruise and part of our WDW days.

only thing sweeter than a sweet cruise? a paid in full sweet cruise! congrats!!

 

[pblack]

We also met with our accountant tonight.

 

[dayvewc]

I have a conundrum. No...not really, more of a decision that I need to make by Friday and I'm struggling. So I thought I'd stop by here and see if some opinions will help.

Many of you know that I'm trying to get my feet under me with a second career--an author. My first traditionally published book is coming out in May. That said, I've been contracted to novelize a movie to a book (HURRAY!). Now please understand that I am under no delusion that I'm a J.K. Rowling or Tom Clancy or John Green. But writing is my hobby and it's now starting to pay.

There is a writer's conference in April that's about 4 hours away (driving time). My tax return will be over $3-$4k. (Do NOT talk to me about how I file, please...that's not the point of this) This conference is $1200.

As I posted earlier this month, I went into debt in December. And as I also posted, I will be able to pay it all off by year's end. That was not factoring in the tax returns, which will allow for quicker repayment.

Going to the conference doesn't guarantee any forward movement in my writing career, but I did land my agent by going to this same conference. Also, there are persons involved with the film industry presenting classes. Also, another editor who is looking for the same type of genre that is publishing in May.

My question to pose to you, for opinions (which I may blow off) is this: go to the conference or put that money toward debt? All opinions welcome, other than the ones who chose to grind an ax that I went into debt to begin with. I'm working on that, which is why I'm here.

From what I understand on what you have said, going to this conference will not put you FURTHER in debt, it just won't let you get out of debt faster.

It will provide opportunities to network within your chosen second profession, and may provide options to network that you may or may not have through other avenues.

I would say go for it, based on the information available.

 

[imbatman]

Thank you to all who've helpfully piped in about the conference. I am going to double-check with my boss to make sure I can take the time off and then put down a deposit on Friday! With new presenters giving panels and classes on the genres I am in, I am looking at is as an investment. And...a tax write off.

 

[pblack]

I think i've decided to pay borrow $400 from our savings and combine it with the $600 rent check our housemate gives to pay off the last $1000 from DH's student loans. Then on March 1st when our housemate pays us again, i'll put $400 of the $600 back into our savings. I've also come up with a plan to pay off the remaining $1500 from our sectional by the beginning of April. That will then free up money to go towards our roof re-payment. DH is going to start calling around to see if we can set up some estimates so we can figure out how much it is going to cost us. I told him that I pretty much refuse to call around to contractors since I had to do it with our tree removal and it was such a headache.

So far it looks like my 2020 goals are on track.

 

[Jen and Ashwin]

DH is going to start calling around to see if we can set up some estimates so we can figure out how much it is going to cost us. I told him that I pretty much refuse to call around to contractors since I had to do it with our tree removal and it was such a headache.

Calling contractors is indeed the worst. I can totally attest to this after spending the past almost 2 years working on this for our basement.

 

[barkley]

calling contractors i don't so much mind, now waiting for them to return my calls let alone actualy show up for an appointment that they've scheduled with me-that's the worst.

 

[Buzzsgramma]

I would be interested in knowing if you don't mind with savings bonds that old...weren't some of them paying some nice interest..?? I mean definately mean more than 2 %...

 

[dina444444]

I would be interested in knowing if you don't mind with savings bonds that old...weren't some of them paying some nice interest..?? I mean definately mean more than 2 %...

The only savings bonds I personally have that were over 2% when we ran all the numbers 5 years ago were pre 1994 or 1995.

 

[barkley]

The only savings bonds I personally have that were over 2% when we ran all the numbers 5 years ago were pre 1994 or 1995.

yup, dd has a few from the year she was born and her 1st birthday that she talked about cashing in to pay down her student loans but i pointed out that they are earning more in interest than her loans are charging so she'll hold on to them until for the time being.

 

[Buzzsgramma]

The only savings bonds I personally have that were over 2% when we ran all the numbers 5 years ago were pre 1994 or 1995.

Our grandson had some from infancy and cashed them in at 25yrs old to pay off his student loans...I thought i remember many were 4%.....we had bought many of them for him every birthday and Christmas....

 

[dina444444]

Our grandson had some from infancy and cashed them in at 25yrs old to pay off his student loans...I thought i remember many were 4%.....we had bought many of them for him every birthday and Christmas....

My only 4% ones were the ones I got for prior to 1994 or 1995. I turned a good chunk of mine in 4 years ago when I bought my home, but didn’t touch the 4% ones cause of the interest rate. I’ll have to start turning them in soon though since they start to hit the 30 year maturity in the next year.

 

[ruadisneyfan2]

It sounded like the poster had savings bonds, not municipal bonds, which have a different tax treatment.

I realized that later. I had just been on Vanguard's website and had municipal bonds on my mind.

 

[ruadisneyfan2]

You'll want to see if your state requires it because some do. Your ins will pay put and then if the othet person is at fault they get their money back from that person's ins.

Oh yes, I didn't cancel my PIP coverage completely. That would be foolish and in NJ it's mandatory. GEICO defines PIP as "Pays your own medical expenses no matter who caused the auto accident."

I only changed the Additional PIP coverage we had which provides income continuation in the event that we cannot work due to a car accident. If God forbid I become injured in a car accident and can't work, PIP would pay me $700 per week. Before making the change in our policy it was for an unlimited length of time. Now it will be capped after paying out $72000. That is still a couple years worth of payout before reaching the cap.

 

[pblack]

Got our first roof estimate tonight....$17k We'll still be calling around for a few other estimates, but this first one just blew my mind. We expected $10-12k...not $17k. We did really like the guy/company and if we go with him he will also include gutters at no extra charge (and we do need new gutters), but I guess we'll see what happens. Not quite sure how we plan on paying for it at the moment. I dont think we have enough equity in the house to refinance or take a HELOC out. <insert big sigh here>

 

[Timothywv385]

Thank you to all who've helpfully piped in about the conference. I am going to double-check with my boss to make sure I can take the time off and then put down a deposit on Friday! With new presenters giving panels and classes on the genres I am in, I am looking at is as an investment. And...a tax write off.

You should be able to deduct the cost of attending the conference on your taxes on the schedule c you will file for your writing career. Also congrats on the 2nd career