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February 2017 - Check In Thread

Frequent Contributor

Re: February 2017 - Check In Thread

I'm just planning to lounge in the garden this year. Behind the scenes, I'm socking away as much money as I can in preparation for the future.

 

Got married in December 2016, so it was interesting filing my taxes jointly with my new spouse.

 

Started February off with a bang: Hubby's not-very-old truck had a bearing box issue or something. $1,300. But that's what emergency funds are for, right? It really felt good knowing that whatever was wrong with the truck could be easily paid for. This. This right here. If I could just bottle up this feeling and give my friends and relatives a sip of what sweet preparedness tastes like, I am sure it would change their ways and get them to tuck money aside. 

 

Improvements I'm working on: I need to get our food expenditures more under control. I work long, long hours. Spouse works full-time, but oddball hours. Sometimes he works from 6 am to 3 pm, and sometimes it's 1:30 pm to 10:30 pm. Our main goals for food are simply to eat something so we're no longer hungry. Far too often, this ends up being junk food, drive-thru fast food on his way home, stuff like that. We are spending a lot more on food than a two-person household should. So, there's that.

 

I'm also contemplating getting in on the 401k where I work. The company does NOT match. Plus, I am worried that with the current political climate, things might go south. That makes me apprehensive about joining the 401k. I need to decide what to do, and soon.

 

Other than that, the rest of February will hopefully be boring and uneventful. That's the way I like it. 

EX myFICO 850 - EQ myFICO 849 - TU myFICO 850
Goal Score: 800+ across the board! *DONE!!!*
Message 11 of 36

Re: February 2017 - Check In Thread

Well, let's see. I have been a member of myFICO and constantly stalk the threads for advice. I do many bad things on my credit report, specifically late payments on credit cards and collection accounts. I also commute 3 hours a day to work and exessively have to spend money on gas! 

 

Here's my Feb 2017 goals:

 

Save $500 (I have a $250 per paycheck allotment that started in Jan)

Pay of IC Systems $375 collection (sent PFD letter last week)

GW Kay Jewelers (paid CO in 2014, sent GW last week)

GW Credit One Bank and both First Premier CC (I fell behind in 2016 and earned 2 30 day lates, sent GW last week)

 

Already filed my taxes, once I receive them (approx $2500) I am going to catch up on some bills we incured from moving to CA (approx $500) and I'm not sure if I should pay down my balances on my CC or go for PFD requests on other collections? Haven't decided.

Starting Score: EQ 524 | TU 540 | EX 544
Current Score:EQ 521 | TU 553 | EX 552
Goal Score: 720


Take the myFICO Fitness Challenge

Message 12 of 36
Established Contributor

Re: January 2017 Check-In


LOTR wrote:

Kidcat wrote:

LOTR wrote:

Kidcat wrote:

I know it's the last day of the month, but I'm in.  

 

No baddies on reports anymore.  Just carrying a little debt that I would like to pay down which will increase my score.  I also really want to close some accounts as I bring down utilization.

 

I did this challenge years ago, and it led to buying my current house.  Hopefully I will have the same success in raising my score this time around.

 

2017 Goals

1. Save $10k to $15k this year toward new car purchase in 2018

2. Pay down 15% of debt by the end of Dec.

3. Close 2 CC

4.  Increase 401k contributions incrementally to catch up max

5.  Get scores over 700

 

Simple Goals but all important.

 

 

Edited to add goals


It's never to late to join.  Smiley Happy

 

Your goals are AWESOME! I wish you all the best in reaching them.


Thank you!  Will there be a Feb thread


Welcome to February thread...LOL!  Smiley Wink


Lol...i gues that made me the first poster...Smiley Surprised

Starting Score:EQ 586 TU 527 EX 532
Current Score: EQ 655 TU 668 EX 669
Goal Score: 760- Last app 8/9/17


Take the myFICO Fitness Challenge
Message 13 of 36
Established Member

Re: February 2017 - Check In Thread

My goals for 2017

1) Raise FICO to 760+ (Progress - 698 in January to 736 in Feb)

2) Reduce credit card debt by 1/3 to 1/2 (Progess - but still a long way to go)

3) Increase overall CL (No CLI yet)

4) Patiently sit in the garden (One month of sitting in the garden)


FICO 08 (Jan '15): EQ: 662 TU: 662 EX: 688
FICO 08 (Jan '17): EQ: 698 TU: 694 EX: 720
Goal: All:750+
Message 14 of 36
Established Member

Re: February 2017 - Check In Thread

I managed to pay down about 500 dollars on my student loans which are in forebearance until the end of March. This has also allowed me to lower my monthly payment by applying my payments made now towards future payments in the month ahead. On some of my loans, I am paid up until the summer, which will be a big help for the present while extra earning opportunities are scarce. 

 

 

I also just applied and got approved for a Capital One Quicksilver card with a $500 starting limit. I know this may not be a lot for some people, but in the continued effort to rebuild my credit, this has really been an amazing development for me personally. I really wanted to get a card that allowed me to earn some points for my daily spending. 

 

I want to stay in the garden until later in the year, maybe mid - late summer/fall, before applying for a better card. Any advice on if this is the right thing to do?

 

Thanks as always! 


Starting Score: EQ 581 TU 579 EX 595
Current Score: EQ 581 TU 579 EX 595
Goal Score: EQ 725 TU 725 EX 725


Message 15 of 36
Valued Contributor

Re: February 2017 - Check In Thread

Checking in for February. Smiley Happy Off to a good start, as I've seen increases to my FICO 8 scores:

 

EQ +4    684 to 688

TU +2    650 to 652

EX +26  653 to 679

 

2017 Goals Review:

 

1). To garden the cards I got last year post-BK, letting those tradelines age and grow. without opening any new tradelines. 

2). To continue to manage utilization and reported balances

3). To watch my inquiries drop from EQ 6, TU 5, EX 8 down to EQ 3, TU4, EX 4 by June. 1 EX inquiry should be off as of end of January, but is still there as of the last time I checked.

4). To pay an extra $100/month on my highest balance and highest interest student loan, which is upside down due to interest accruing while in deferment (I know I should have paid it as I went, but the BK and events leading up to didn't allow for that).

5). To continue saving about 10% of my gross income each month.

6). To hopefully see my three FICO 8 scores hit 700's across the board

 

Pretty simple and it doesn't require a lot of action, just restraint! Smiley Happy

Current Scores------ EQ 684; TU 653; EX 688 FICO 08--- Gardening from 09/07/17 until "Winter is Over"
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015

Take the myFICO Fitness Challenge
Message 16 of 36
Community Leader
Senior Contributor

Re: February 2017 - Check In Thread

February 28, 2017 = 5 months of gardening

 

I'm 1 month away from PIF my first credit card and it feels good. Everything else remains the same.

Gardening since xx/xx/xx Gardenversary xx/xx/xx Score: 08/21/17 EQ 781 TU 784 EXP 789
Current Score: 781
Goal Score: 800
Take the myFICO Fitness Challenge
Message 17 of 36
Established Contributor

Re: February 2017 - Check In Thread


gamegrrl wrote:

I'm just planning to lounge in the garden this year. Behind the scenes, I'm socking away as much money as I can in preparation for the future.

 

Got married in December 2016, so it was interesting filing my taxes jointly with my new spouse.

 

Started February off with a bang: Hubby's not-very-old truck had a bearing box issue or something. $1,300. But that's what emergency funds are for, right? It really felt good knowing that whatever was wrong with the truck could be easily paid for. This. This right here. If I could just bottle up this feeling and give my friends and relatives a sip of what sweet preparedness tastes like, I am sure it would change their ways and get them to tuck money aside. 

 

Improvements I'm working on: I need to get our food expenditures more under control. I work long, long hours. Spouse works full-time, but oddball hours. Sometimes he works from 6 am to 3 pm, and sometimes it's 1:30 pm to 10:30 pm. Our main goals for food are simply to eat something so we're no longer hungry. Far too often, this ends up being junk food, drive-thru fast food on his way home, stuff like that. We are spending a lot more on food than a two-person household should. So, there's that.

 

I'm also contemplating getting in on the 401k where I work. The company does NOT match. Plus, I am worried that with the current political climate, things might go south. That makes me apprehensive about joining the 401k. I need to decide what to do, and soon.

 

Other than that, the rest of February will hopefully be boring and uneventful. That's the way I like it. 


Congratulations on getting married!  It sounds like you and the new hubby are doing something right in the finances when you can have an unexpected $1300 expense and know it's covered! Great job on starting off your lives together on the right footing!  Preparing for a secured financial future is important.  If your company does not match be sure the plan offered under your company's 401K is a good one before investing with it. Don't ignore outside companies that can meet your retirement plans (Vanguard is an excellent investment company and they have super low fees).

 

Keep up the great work and good luck to you both! Smiley Happy

gardening until: 02/02/2018....updated on: 12/01/2017....rebuild: 02/2016 EQ: 648 TU: 642 EX: 657
Curr. Score (Mortgage): EQ 05: 739, TU 04: 774, EX 02: 810 (Fico 8): EQ: 775, TU: 790, EX: 810
Goal Score (Mortgage): EQ 05: 760, TU 04: 774, EX 02: 810 (Fico 8): EQ: 800, TU: 800, EX: 810
Take the myFICO Fitness Challenge
Message 18 of 36
Established Contributor

Re: February 2017 - Check In Thread


meagandporter wrote:

Well, let's see. I have been a member of myFICO and constantly stalk the threads for advice. I do many bad things on my credit report, specifically late payments on credit cards and collection accounts. I also commute 3 hours a day to work and exessively have to spend money on gas! 

 

Here's my Feb 2017 goals:

 

Save $500 (I have a $250 per paycheck allotment that started in Jan)

Pay of IC Systems $375 collection (sent PFD letter last week)

GW Kay Jewelers (paid CO in 2014, sent GW last week)

GW Credit One Bank and both First Premier CC (I fell behind in 2016 and earned 2 30 day lates, sent GW last week)

 

Already filed my taxes, once I receive them (approx $2500) I am going to catch up on some bills we incured from moving to CA (approx $500) and I'm not sure if I should pay down my balances on my CC or go for PFD requests on other collections? Haven't decided.


Congratulations on your successful move to CA!

 

If you haven't already, you may want to get some help from the rebuilding forum on some of the things you're trying to decide on.  Have you considered doing a balance transfer to a CC with 0% transfer promo?  That way, you can buy time to pay down the CC, but not accrue interest AND work on the PFD.  Those collection entries on your CR can be a bugger on your fico score, but if you're paying out the wazoo in interest on the CCs, then it makes more sense (atleast to me) to get those balances down as much as possible as quickly as possible.

 

May you reach all of your goals this year and then some! Smiley Happy

gardening until: 02/02/2018....updated on: 12/01/2017....rebuild: 02/2016 EQ: 648 TU: 642 EX: 657
Curr. Score (Mortgage): EQ 05: 739, TU 04: 774, EX 02: 810 (Fico 8): EQ: 775, TU: 790, EX: 810
Goal Score (Mortgage): EQ 05: 760, TU 04: 774, EX 02: 810 (Fico 8): EQ: 800, TU: 800, EX: 810
Take the myFICO Fitness Challenge
Message 19 of 36
Established Contributor

Re: February 2017 - Check In Thread


zerick wrote:

My goals for 2017

1) Raise FICO to 760+ (Progress - 698 in January to 736 in Feb)

2) Reduce credit card debt by 1/3 to 1/2 (Progess - but still a long way to go)

3) Increase overall CL (No CLI yet)

4) Patiently sit in the garden (One month of sitting in the garden)


Sweet goals!  Smiley Happy

 

Great fico score jump from January to February!  Do you know why the scores increased so beautifully?  How are you approaching the reduction in your credit card debt?  Whatever you're doing, it must be working because you've already reduced it by 1/2!  I'm sitting in the garden too and will be there for atleast till December of this year.

 

Good luck in reaching all of your goals this year. Smiley Happy

gardening until: 02/02/2018....updated on: 12/01/2017....rebuild: 02/2016 EQ: 648 TU: 642 EX: 657
Curr. Score (Mortgage): EQ 05: 739, TU 04: 774, EX 02: 810 (Fico 8): EQ: 775, TU: 790, EX: 810
Goal Score (Mortgage): EQ 05: 760, TU 04: 774, EX 02: 810 (Fico 8): EQ: 800, TU: 800, EX: 810
Take the myFICO Fitness Challenge
Message 20 of 36