Can I clear a debt a month??

ehallett · 29 December 2005 at 8:50PM

Hello everyone

2006 is going to be the year that I get myself out of debt!! Correction - 2006 is the year that I need to get myself out of debt!! The main reason for this is that I am 24 years old now. A young age you might think but not considering the fact that I have got Cystic Fibrosis. Time is ticking away for me so I need to sort myself out.

So can I live up to my challenge of 2006 and completely pay off a debt every single month? I hope that people don't mind me posting on here, I really wanted to do this so that I can keep myself going and have somewhere that I can put my progress down in black and white. I will post updates as to my progress with my 2006 challenge.

So my debt to clear for January is: HFC bank loan for my laptop which needs to be paid off by 24th January so that I don't have to pay a hefty APR for the rest of the loan. The amount left is £814.59. I want to aim to get the money in my account by the 17th so that I can give enough time for the money to transfer.

I've got £130 saved for it. I have got lots of 'odds and sods' to sell that I estimate will get me around £100. I have also got a PS2 with loads of accessories and games to sell which will get me around £200. I’m going to list as much as I can on Ebay ASAP.

Hopefully that will leave less than £400 to get. I’m really keen on competitions and I’m quite lucky with them so hopefully some good prizes are winging their way to me right now so that I can put these towards the total. If not then there are some other things that I can sell.

I’ll post an update again soon so that it keeps me going and on target. I hope that everyone has a Happy New Year and a very prosperous 2006!!

:beer: :beer: :beer:

Bathsheba · 29 December 2005 at 8:56PM

Well done for being so focused. You've come to the best place for support and advice, as I'm sure you know from looking at all the threads so far.
This is just to give you some encouragement - we'll look forward to hearing how you get on with your plan.

:wave:

mountainofdebt · 29 December 2005 at 9:05PM

Just a hint.....ebay are having a 5p listing day today

mummytofour · 29 December 2005 at 9:53PM

Im going to be watching this one and I wish you the VERY best of luck.

Vxx :rudolf:

papermoney · 29 December 2005 at 9:56PM

I wish you all the luck in the world - you sound very positive so that's a great start.

saverio · 29 December 2005 at 10:15PM

when you post on ebay, always do it on a thursday evening between 8 and 9, other than the fact that many of the free listing days are on a thursday, if you post for ten days you get two full weekends of viewings and the sale finishes on a sunday night.

Gonna_Do_It · 29 December 2005 at 10:20PM

Hey, I'm with you on that one, 2006 is defo going to be the year to focus on getting debts paid off!!!

If you have a goal in sight, like the 800 or so to pay off the laptop then you can do it! Defo get selling on ebay. Can you do any babysitting? If you babysit 4 times in Jan you can make 100.

Do you work at all? Can you put any of your income towards it.

You will feel great when you pay it off and don't get charged those high rates.

Good luck, what will be your focus after that?

ehallett · 29 December 2005 at 10:29PM

Thanks to everyone for their kind comments and encouragement so far. I do work 30 hours a week - it used to be full-time but I had to cut my hours due to my ill health which is another reason I need to clear my debts just incase I need to cut my hours even more.

Next month's debt is my Barclaycard with around £300 on it but that can wait until my HFC debt is paid. I only want to focus on one debt at a time for now (whilst making the minimum payments on the rest obviously!).

Thanks again and keep the encouragement coming!!

:snow_grin

Little_Miss_Winner · 30 December 2005 at 1:07AM

...Lots of encouragement from me too !!

pot
x

newmum1 · 30 December 2005 at 1:12AM

i totally agree with you, wish i could be that focused i may just take a leaf out of your book. Good luck with your 2006 challenge, keep us updated.

*Louise* · 30 December 2005 at 2:20AM

Best of luck, you havent set yourself an easy first target, but I hope you get there. :j

Can I clear a debt a month??

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