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Snowflakes, Gym Membership, Credit Score

October 19th, 2015 at 06:12 pm

Today I received a couple snowflakes -

$50 PayPal from Swagbucks
$25 AGC from PerkTV
$5 AGC from Bing

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I'm seriously considering dropping my gym membership. I don't know how much it'd cost me to break my contract, but I'm just not using it. And I really don't see myself using it ... the traffic to get there is just miserable.

There is another gym where I wouldn't have to deal with such miserable traffic - no contracts. I drove there today after work in 7 minutes flat, even with kind of guessing how to get there. (I didn't go in because I was in the wrong lane to get into it ...)

I need to find out how much both the new place would cost and how much it will take to get out of my old place.

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NE and I were talking a bit more about houses last night. There really aren't too many in the price range I could qualify for by myself. I told him that if he really wants something in a higher price range, then the only way we'd be able to do it is by combining our income qualifications. Which means he really needs to work on his credit score.

He told me that he'd paid all his bills on time since the last time we'd started talking more seriously about this.

I was saying something about maybe looking into getting a small installment loan of some type to help build the score as well - he was wondering if the medical bill might not qualify as that. Hmm... He'd been thinking of paying it off in one lump sum once he gets his inheritance money, but maybe it'd be better to stretch it a bit longer.

It seems a bit of a catch 22 though ... the medical debt would count as debt (obviously) but could also be a way of showing on-time monthly installment payments. By the time we'd be doing the house looking, my one installment payment loan (car) would be nearly 2 years old, so wouldn't count too much I think.

There was this one house on FB yesterday that was just *perfect* Walk-out basement (so he could come home from work and go through the basement without waking me up at 3 or 4 a.m.) finished basement area, two bedrooms upstairs (my space!) and a finished attic space - 1 1/2 bathrooms. And a 2 car garage, porch, and good sized yard with mature trees.

Only problem was it was listed at $123k. I really need to stop looking at the home listings on FB ... at least for another 6 months or so. Smile

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When I was getting ready to walk to the library today I realized I'd misplaced my library card/work badge! Thankfully the library took my driver's license to check out the book that was on hold (Homebuying for Dummies) ... but I still need to find the card/id..

Only three places I usually keep it - my car console, my purse, or in the bag I take to the library to carry books. Hopefully it'll turn up soon.

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It looks like my 401(b) is FINALLY migrating to Vanguard. I got an email notice today that they'd gotten a check - but it hasn't shown up in my accounts yet. It'll be so nice to have that all finished for once and all.

Speaking of retirement accounts ... I emailed the city's person who deals with that stuff to ask about whether people in my particular union have any other retirement savings options other than the one the city contributes to. He said there are two other options which he'll send me info on.

He also told me that I could contribute more than 7% (9% match) BUT it would not be pre-tax and it wouldn't be through payroll deduction (and no extra match). Hmm ... kind of takes away the desire to do it when it isn't pre-tax. (Not that I'm anywhere near being able to do that yet anyway ... need to get my ROTH to compacity first before thinking about upping other contributions.)

I'm curious to see what the other options are. The lady I met at my MMM meetup said she contributed $20 a pay period to a 457? and got a 100% match (up to $20.) She works for the city too, just in a different union.

9 Responses to “Snowflakes, Gym Membership, Credit Score”

  1. creditcardfree Says:

    Remember all debt you have had shows on your credit report for at least seven years. So your installment loan being older than two years shouldn't be an issue. The bank wants to see your ability to make payments on time. And I assume you do, so that will be reflected. In my mind, you should have no issue qualifying for a loan as long as the house is within your debt/income ratio. The more you can put down the more house you can likely afford.

    You described a house that sounds like one my sister lives in with her husband and daughter. Smile And my brother in law brings his bikes in through the basement door all the time.

  2. FrugalTexan75 Says:

    That's cool - The walk out basement seems to be a pretty rare thing here - but oh so useful! Smile
    Do you know if the medical debt counts as an installment loan? (And yes, I don't have any late payments on my credit history. Smile )

  3. creditcardfree Says:

    Not sure on the medical debt. It would depend if it is being reported by the creditor to a credit agency. You could look at NE's report and see if it is there.

  4. FrugalTexan75 Says:

    Ok, that is something we probably need to do anyway so we know the base line. IOW how far we have to go ... Smile

  5. creditcardfree Says:

    Look at one credit report each at a minimum. Look to see what banks will see. Also consider looking at Credit Karma to get credit score. I just logged into mine the other day and it gave me credit scores from two of the credit agencies...all for free. And looking at your own report and your own score DOES NOT hurt you at all. In fact, it doesn't even show up.

  6. FrugalTexan75 Says:

    Yep, I know my score thanks to various credit cards that provide it, as well as using Credit Karma. I used up all my free looksies for the year when I was trying to get my past addresses. NE has no idea what his score is, and I doubt has ever checked his reports ...

  7. VS_ozgirl Says:

    You'll get there in the end, just keep at it!

  8. snafu Says:

    Listing price for a given property is just a figure concocted with realtor and seller. As a buyer you're free to offer whatever sum you [and your realtor] conclude is reasonable given location, size, condition/age, appliances and extras given comparable 'solds.' I too recommend a 20% downpayment because mortgage insurance is so expensive. I'm horrified that some lenders now require PMI for the entire term of the mortgage.

  9. FrugalTexan75 Says:

    Thanks VS Smile
    Snafu - I'm hoping we'll have 20% downpayment, because I'd love to avoid PMI too. If it's a 100k house though .... that might not be doable. (20% down)

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