The "Pay ALL your debt off by Xmas 2012" challenge

his_missus · 28 November 2011 at 11:06AM

Morning all!

Hubby paid £70 towards the credit card yesterday, just the minimum, not much but all we can afford at the moment. Will update my total next time I get a statement because I bet most of that £70 will get eaten up by interest:o

kerri_dfw · 28 November 2011 at 11:30AM

The bruise in my tailbone has finally come out a lovely grey colour today yummy, with bits of blue. Laminate flooring + alcohol - shoes = ouch!
Waiting for my Freemans statement to come through so I can pay something else off

(need to know interest first).

Anyway.... this weeks challenge starting from tomorrow is something a little different. Originating from the fact I never do anything on time, especially going to bed at a reasonable hour. But also we shouldn't have debt busting as a chore and should remember we need to reward ourselves sometimes.

So in light of this I want you all to set yourself a small "personal spend" amount, mine's going to be £10. I get to spend this £10 on chocolate, sweets, a debt, clothes, whatever next week. (I normally have £20 to spend each week on me so this week I only get £10 so next week I get £30 theoretically).

The catch... you need to decide on something that's time related, so picking the kids up at 3pm; going to be at 11.30pm; breakfast at 7.30am... doesn't matter what it is that's completely up to you. Then for every minute that you are later than your set time for this you deduct 10p from your spending money and it goes in your debt busting pot. For every minute you are early you gain 1p up to your set amount.

For instance...
I decide I have to be in bed by 11.30pm each night, on
Tuesday I go to bed at 11.35pm so I'm then at -£0.50,
Wednesday it's 11.29pm so my total = -£0.40,
thursday 11.30 so total = -£0.40p,
friday 11.45pm total = -£1.90p
saturday 2am total = -£16.90,
sunday 10pm total = -£7.90p
monday 11pm total = -£4.90
So at the end of the week I've got £5.10 to spend on myself and £4.90 to go towards my debts.

Hope I've explained that properly.

antonia1 · 28 November 2011 at 11:54AM

AAAAAAAAAAAAARRRRRRRRRRRRRRRRRRRGGGGGGGGGGGGG!!!!!!!!!!!!!!!!!

I miscalculated my debt! My proper total is actually £3895:eek::eek::eek::eek::eek::eek::eek::eek::eek:

Not impressed at all!

Roll on payday (Wed) so that my debt can start going down.

mf0u1098 · 28 November 2011 at 12:18PM

Hey everyone and welcome to our newest members!

Well done for all your debt busting people!!! I'm in the middle of a financial audit (shhhhhh...she's just gone to make a brew which is why I'm sneakily on here...) so I will have to update all your totals later this evening which is pants cos I'm just so excited!!!

You guys are BRILL!!!

*scurries away as she's coming back eek...!*

psychopathbabble · 28 November 2011 at 12:31PM

L-M wrote: »

not rude at all! I am amazed you remember me though:p It was the utterly fantastic PAD thread (I was going to say hello to you as I remembered posting on there with you but I thought you wouldn't know who I was and would think I was some kind of mad internet stalker :rotfl:)I stopped posting when I was in hospital having baby no.6 and never got back into the habit of it:o but pad is the only reason I have done so well with my debts:D

Wow everyones doing so well already on this thread:T I can't wait to get started properly, I have spent all weekend sorting out a proper budget, I feel so motivated, I've got all my online bank accounts ready to go:p

My eyes just watered when you said baby no. 6! :rotfl: Hope the little one is well...

Come back to pad

as we say, once you join you never leave and I'm sure the others will be happy to see you!

I'm looking forward to payday... I have £216 'spare' to pay towards debt although I need to work out what I need to keep back for my work xmas do etc

theposhbint · 28 November 2011 at 12:38PM

Well done everyone for all the payments made, be them little or large

It all helps towards our common goal. I'm loving how motivated this thread is making me..

To be cliche for a moment my lovely nan used to always say to me 'look after the pennies, the pounds will take care of themselves' .. and i used to say yeah ok nan, whatever (whilst rolling my eyes) have another sherry :rotfl:

But she was so right!!

£5.48 paid off today just to round a debt off, hate odd loose ends.. So thats £49.91/£13,210.36 _party_

kerri_dfw · 28 November 2011 at 12:45PM

My outstanding has just increased due to £24 odd in interest, waiting for vanquis to clear then will make a payment to *hopefully* reduce to 15% paid

yay

hazelc56 · 28 November 2011 at 12:54PM

I have a new debt total.Will not be making any payments towards my debts until Mon.5th Nov.

Old debt balance was £1002.39 + £36.00 = £1038.39

Total now oweing is now £1038.39

PedroMatias · 28 November 2011 at 1:03PM

Right! Internet is finally connected today, so the eBay mega clearance starts here! This is my "prove to myself how determined I am" day - I think I'm going to sell my beloved camera, which is getting very little use.

Anybody want to buy an Antler wicker picnic basket?!

For motivation, has anybody any big success stories on eBay-inspired debt clearance?

kerri_dfw · 28 November 2011 at 1:04PM

PedroMatias wrote: »

Right! Internet is finally connected today, so the eBay mega clearance starts here! This is my "prove to myself how determined I am" day - I think I'm going to sell my beloved camera, which is getting very little use.

Anybody want to buy an Antler wicker picnic basket?!

For motivation, has anybody any big success stories on eBay-inspired debt clearance?

Made £108 in the last week on fleabay if that counts?

The "Pay ALL your debt off by Xmas 2012" challenge

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