When's your Debt Free Date?
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Update after giving a go at working for myself... In the last three months of being a full time photographer, I've steadily earned £300 more every month than the big steady job I've had for 15 years! Ah! So it's going well, for now. My wife has also sold a flat that she could not get rid off last month, and paid me back a few IOUs that I gave her about 6 years ago, in total £375 that went straight to my debts.
LBM 31/12/13 - As of 22/07/15: CC1 {MBNA @ 6.9% for life} £2,264 | CC2 {Lloyds @ 0% for 35 months} £6,440 | DFD: Jul 2017 - Total £8,7040 -
If I'm very frugal throughout August and September then I could be debt free by October 1st 2015! :j
Maybe November is more realistic but I'll aim for October and see how it goes.Starting 2016 debt-free
Emergency Fund: £350/£10000 -
Feb 2020 according to various different calculators online.... although it will be sooner than that, as some of my credit cards have different interests rates within the same card.
Eg, total £5300 on 1 CC:
£2554.61......... 0% to 18/03/16
£677.25........... 0% to 18/08/15
£2068.14......... 29.9%
So I have entered 29.9% as APR for that CC. No calculators online allow a break down.
So while I'm hating the Feb 2020 DFD I know it'll be faster. Just wish I find a more realistic DFD.LBM July '15: [STRIKE]£34,867.89[/STRIKE] :mad: £34,077.59 (1% paid) DFD:[STRIKE]Feb 2020[/STRIKE] April 2019 £2 Savers #129: £8 'Extra payment a week': £0
Wombled: £18.22 GC £200 #185 Aug:£167.98 Sept: £63 Pay off by Xmas'15 : £4200/£790.80(5.3%) House deposit: £5000/£360 (7%) Emergency fund #125: £1000/£30
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I won't clear it at least until the 0% expires (April 2017 on a small bit, July 2017 on a bigger bit) but expect to have enough in savings to cover it by July 2016.0
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Worked this out last night to be no more than 2 years away, cant get exact date as some big expenses coming up.:eek:Living frugally at 24 :beer:
Increase net worth £30k in 2016 : http://forums.moneysavingexpert.com/showthread.php?p=69797771#post697977710 -
Well done everyone
My personal debt will be paid off in June 2016
Got £1,600 to go
Husband will be down from 11k to 7500 also in June 1016 and then it will be feb 2018 all done0 -
At the moment mine will be March 2017, 3 days after my 34th birthday.LBM: Dec 2012 - Debt £38,180/ Now £0.
DFD - 17/04/2016
Gambling: The sure way of getting nothing from something.
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If you posted on this thread when we first started it and have worked hard and managed to bring your date forward let us know!
That's a milestone in itself!Could you do with a Money Makeover?
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My aim is December 2016!
Halifax CC: £1100 - paid by December 2015
Virgin 0% for 24 months: £950 - paid by April 2016
Loan: £3600 - paid by December 2016
Car finance not included as this is relatively low and want to snow ball all debts then start overpaying my Mortgage. Staying positive and well prepared with lots of spreadsheets keeping me on track for my goal!0
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