Pay off £20,000 (ish) by Xmas 2008

Pollydaydream · 30 November 2007 at 11:07PM

Does anyone want to join me in a “Pay off/save £20,000(ish) by Xmas 2008” challenge (for me, otherwise known as the “stop faffing around” challenge).

I’m sitting here, on payday, with nothing done for Christmas and not enough money to get through the month, again. Luckily, I get paid early for January, but that means a) frenzied shopping a couple of days before Christmas :eek: and b) being short of money again in January.

I’ve been faffing around for a whole year now. It’s taken that long for the reality to hit home. I’ve started challenges and lasted a couple of days (sometimes hours!). I’ve clicked for pennies and then gone and spent pounds. When I add up all the extra money that’s come my way this year, I’m horrified that I’m still in this position.

I think one of my problems is that I don’t post here very much. Although I do read everyday, I think I need to actually write it down and ‘put it out there’ for it to hit home. I don’t really want to start a diary, because I don’t want to bore you all with my inane (or, after the last year, probably insane) ramblings. No offence to anyone with a diary – I love reading them; I just know what rubbish is running through my mind, and you have burdens enough

.

My amount for this year is in my signature – I actually have a huge loan as well, but that’s for next year. I know it’s a bit strange to be having a new year’s resolution now, but it would be lovely to be sitting here this time next year knowing we can relax a bit for December.

So, if you have a similar amount, or a similar timescale, or you just want to “stop faffing around”, it would be great if you could join me.

Polly

hypno06 · 30 November 2007 at 11:11PM

I have already challenged myself to do £15k............could I increase it......hmm, could certainly give it some thought!!

meyore · 30 November 2007 at 11:14PM

I'm happy to "stop faffing around" with you-if you'll have me! I have £18000 worth of debt and I intend to get rid by September. But if I carry on like I have recently, I'll never get out of debt...!

FrankieM · 30 November 2007 at 11:38PM

Hi,
I have same sort of amount as meyore...£17686 to be exact. Its 0% at the moment, but that finishes about the 24th September...so I'm about the same as meyore there too...how weird is that!!
I've posted on pania's diary cause she is trying to pay off £15000 by next Christmas, but if this an actual challenge thread, then I would love to join....:j

jpwhittle · 30 November 2007 at 11:43PM

i would love to joi this challenge i have £12677 and some pence that i would love to get rid of so the bigger a dint a can make in that this year the better. so count me in.
Are we starting now or after christmas?

this would be great for me as we worked everything out today now we are back in the black and i am ashamed that my husband comes home with £1553 a month and we have no money its all in debts. i want to get rid of this and live the life we should be living instead of like a pauper.

Pollydaydream · 30 November 2007 at 11:54PM

Hi everyone and welcome.

I just found myself typing "Let's start tomorrow" and then realised that perhaps that's not the best way to start a "stop faffing around" challenge. Not that I've done anything moneysaving/making in the last half hour, but I have done the washing up, so at least I can get a flying start tomorrow!

Seriously, though, I need to start as soon as possible, but if others want to join in later, that's fine.

Polly

kassytbag · 30 November 2007 at 11:57PM

i am dying to join you - i too read this every day and although my husband has a great wage we are always overdrawn and i feel money just slips through our fingers our debt minus the mortgage is about 22k - i will post the exact amount in my sig over the weekend - i agree - we need to start right away and get cracking instead of falling a the first hurdle

FrankieM · 1 December 2007 at 12:01AM

Hey pollydaydream...
I'm in with start ASAP.
I'm in Australia at the moment..on an extended holiday, but we got work done on the house before we left. New windows, a porch and conservatory. It probably wasn't the best move in the world to get all that done and then go to Oz for 3 months....but there you go.
My interest kicks in in September and its pretty big, so I really want to get it paid off before then....
I'm not able to do much at the moment, but my DH's salary is still going into our account, so I'm hoping that will accrue nicely for when we get back at the end of January.
I also can't decide whether to join the 'free xmax 2008' thread or use any of that stuff to pay off my debt....?

Pollydaydream · 1 December 2007 at 12:23AM

Hi Kassy and welcome.

Frankie - I was reading the 'Free Xmas 2008' thread earlier and had exactly the same conversation with myself, and I still haven't decided! I've been through goodness knows how many different permutations of "I'll save these points for Christmas, but I'll use those vouchers for now".

See what I mean about faffing around!

Polly

Toto · 1 December 2007 at 12:33AM

You could say that anything which is a freebie goes in the free xmas 2008 pot, so all piggy and survey vouchers. Any loose change from the sealed pot, goes off the debt, so if it's money you've saved, it's debt, freebie xmas.

FrankieM · 1 December 2007 at 12:38AM

thats a good idea toto. I might do it like that. In the past I've sold any vouchers on ebay....but if most of my budget is going to pay off the debt I may need the vouchers to buy presents...
So would cash back and surveys that pay cash go off the debt?

Pay off £20,000 (ish) by Xmas 2008

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