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My Debt / Savings / Challenges Progress Thread - Updated: 21/02/2008
Steameh
Posts: 369 Forumite
Hi all,
Thought I'd create one thread for all of my progress so I can keep it all together.
I started my DFW mission on 21st December 2007 and have since started putting some savings away and set myself a few challenges.
I had the following debts as of 21st December 2007
A&L Loan @ 6.3% APR - £9495.41
MINT Credit Card @ 0% til 1st May - £1622
Car Insurance - £509.74
Overdraft - £400
Total - £12,027.15
Challenges
Clear A Debt By April
Sealed Pot
Centre Parcs Xmas 08 Pot
The debt I would like to have cleared by April is my MINT credit card. This stands at 0% until 1st May 2008. For the sealed pot challenge I am going to be putting in 1's, 2's, 5's, 10's and 20's. The Centre Parcs challenge is going to be 50's and £1's only.
I shall be updating this thread on the 21st of every month or whenever something major happens.
See below for progress updates.
I have also started a 1 month only spending diary HERE
Thought I'd create one thread for all of my progress so I can keep it all together.
I started my DFW mission on 21st December 2007 and have since started putting some savings away and set myself a few challenges.
I had the following debts as of 21st December 2007
A&L Loan @ 6.3% APR - £9495.41
MINT Credit Card @ 0% til 1st May - £1622
Car Insurance - £509.74
Overdraft - £400
Total - £12,027.15
Challenges
Clear A Debt By April
Sealed Pot
Centre Parcs Xmas 08 Pot
The debt I would like to have cleared by April is my MINT credit card. This stands at 0% until 1st May 2008. For the sealed pot challenge I am going to be putting in 1's, 2's, 5's, 10's and 20's. The Centre Parcs challenge is going to be 50's and £1's only.
I shall be updating this thread on the 21st of every month or whenever something major happens.
See below for progress updates.
I have also started a 1 month only spending diary HERE
EMERGENCY FUND CHALLENGE - £2,292.05 / £6000
DEBT FREE DATE - 16/02/2021
Pay Debt by Xmas 2021 - No.134 - £2,871.64 / £2,871.64 - 100% Paid
Pay Debt by Xmas 2020 - No.134 - Target: £7,985 / Achieved: £5,113.36
Pay Debt by Xmas 2019 - No.134 - Target: £15,985.00 / Achieved: £8,000
DEBT FREE DATE - 16/02/2021
Pay Debt by Xmas 2021 - No.134 - £2,871.64 / £2,871.64 - 100% Paid
Pay Debt by Xmas 2020 - No.134 - Target: £7,985 / Achieved: £5,113.36
Pay Debt by Xmas 2019 - No.134 - Target: £15,985.00 / Achieved: £8,000
0
Comments
-
21st December 07
Total Debt Paid
£0.00
Remaining Debt This Period
Overdraft - £400 ~ £0.00
MINT CC - £1622 ~ £0.00
A&L Loan- £9495.41 ~ £0.00
Car Insurance - £509.74 ~ £0.00
Total Debt Remaining This Period
Debt - £12,027.15 ~ £0.00
Total Savings This Period
Savings - £123.14 ~ +£0.00
Challenges
Sealed Pot Challenge - £14.90 ~ +£0.00
Clear a Debt by April - £0.00 / £1622 ~ +0.00
Centre Parcs Challenge - £0.00 / £150 ~ +0.00EMERGENCY FUND CHALLENGE - £2,292.05 / £6000
DEBT FREE DATE - 16/02/2021
Pay Debt by Xmas 2021 - No.134 - £2,871.64 / £2,871.64 - 100% Paid
Pay Debt by Xmas 2020 - No.134 - Target: £7,985 / Achieved: £5,113.36
Pay Debt by Xmas 2019 - No.134 - Target: £15,985.00 / Achieved: £8,0000 -
You're doing really well, sweetie!
Keep it up! and remember, we're all here for help guidance or a friendly shoulder to cry on if you need it!
woo hoo to yooou!
LP
xox0 -
Hi Steameh, good idea to track ur progress with ur challenges etc.
What are ur savings for? Are u saving to pay off a debt?
Sarah x'We are all in the gutter, but some of us are looking at the stars' - Oscar Wilde0 -
SarahNeedle1872 wrote: »Hi Steameh, good idea to track ur progress with ur challenges etc.
What are ur savings for? Are u saving to pay off a debt?
Sarah x
Hi Sarah,
The savings are mainly for something to fall back on if I need too. However I do want to treat myself to a holiday or two this year so am saving for that and also if it looks as though I'm going to fail my 'clear a debt by April challenge', I will make sure I don't with the savings as I don't want to start getting charged interest on the credit card.EMERGENCY FUND CHALLENGE - £2,292.05 / £6000
DEBT FREE DATE - 16/02/2021
Pay Debt by Xmas 2021 - No.134 - £2,871.64 / £2,871.64 - 100% Paid
Pay Debt by Xmas 2020 - No.134 - Target: £7,985 / Achieved: £5,113.36
Pay Debt by Xmas 2019 - No.134 - Target: £15,985.00 / Achieved: £8,0000 -
Do you have a smaller debt you can try to clear by April? Or maybe you could sacrifice one of the holidays, and out a bit more money towrds the debt?Hi Sarah,
The savings are mainly for something to fall back on if I need too. However I do want to treat myself to a holiday or two this year so am saving for that and also if it looks as though I'm going to fail my 'clear a debt by April challenge', I will make sure I don't with the savings as I don't want to start getting charged interest on the credit card.
Sarah x'We are all in the gutter, but some of us are looking at the stars' - Oscar Wilde0 -
SarahNeedle1872 wrote: »Do you have a smaller debt you can try to clear by April? Or maybe you could sacrifice one of the holidays, and out a bit more money towrds the debt?
Sarah x
My car insurance is smaller than my credit card by a long way and whilst it would be nice to see that gone too, I'd prefer to see the cc gone. Once that is gone it is going to spare up a fair amount of money so I could then pay my car insurance off in May / June.EMERGENCY FUND CHALLENGE - £2,292.05 / £6000
DEBT FREE DATE - 16/02/2021
Pay Debt by Xmas 2021 - No.134 - £2,871.64 / £2,871.64 - 100% Paid
Pay Debt by Xmas 2020 - No.134 - Target: £7,985 / Achieved: £5,113.36
Pay Debt by Xmas 2019 - No.134 - Target: £15,985.00 / Achieved: £8,0000 -
21st January 08
Total Debt Paid
£370.37
Remaining Debt This Period
Overdraft - £400 ~ £0.00
MINT CC - £1500 ~ -£122
A&L Loan- £9293.38 ~ -£202.03
Car Insurance - £463.40 ~ -£46.34
Total Remaining Debt This Period
Debt - £11,656.78 ~ -£370.37
Total Savings This Period
Savings - £453.21 ~ +£330.07
Challenges
Sealed Pot Challenge - £16.90 ~ +£2
Clear a Debt by April - £122 / £1622 ~ +122
Centre Parcs Challenge - £17.50 / £150 ~ +17.50
Summary
I have managed to claim back £43.20 in credit card charges from MINT. They have paid this straight off my current credit card. The rest of the payment is from my wages. I have also filed a claim with Tesco Personal Finance. I am still waiting for a response on this one. This will also be coming straight off my credit card balance.
I have also decided to start a spending diary today as it is payday and I would like to see exactely where my disposable income is going every month. I only plan to run this for one month but might continue it afterwards. You can view this HERE
EMERGENCY FUND CHALLENGE - £2,292.05 / £6000
DEBT FREE DATE - 16/02/2021
Pay Debt by Xmas 2021 - No.134 - £2,871.64 / £2,871.64 - 100% Paid
Pay Debt by Xmas 2020 - No.134 - Target: £7,985 / Achieved: £5,113.36
Pay Debt by Xmas 2019 - No.134 - Target: £15,985.00 / Achieved: £8,0000 -
-
pinkpr1nc3ss wrote: »Good luck with your debt clearing and savings. You are doing really well already. I'm looking forward to reading about your progress
Thank you very much! I'm hoping all goes to plan. Shall be updating on a monthly basis unless I get to pay off a considerable amount in between or anything substantial happens.
Good luck to yourself also :-)EMERGENCY FUND CHALLENGE - £2,292.05 / £6000
DEBT FREE DATE - 16/02/2021
Pay Debt by Xmas 2021 - No.134 - £2,871.64 / £2,871.64 - 100% Paid
Pay Debt by Xmas 2020 - No.134 - Target: £7,985 / Achieved: £5,113.36
Pay Debt by Xmas 2019 - No.134 - Target: £15,985.00 / Achieved: £8,0000 -
wow -seems like you're doing really well. Keep it up.Making my money go further with MSE :j
How much can I save in 2012 challenge
75/1200 :eek:0
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