This debt must go

starnac
starnac Posts: 5,917 Forumite
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in Debt free diaries
I've just been looking at my old diary which I actually started this time last year give or take a few days. It's out of date now so I thought I'd start a shiny new one ready for the mass assault on my debts in 2011.

Changes since this time last year? We are now living in our new house :j but we have added about £3k to our debts.:mad: (and a new mortgage which is not included in the debt figures)

Current debt stands at £12891.87 :mad: and the snowball has given me a DFD of October 2012. I personally want it cleared by the end of 2011 but I will settle for April 2012 which will bring a big birthday for me :eek:

I have just cleared my Egg card thanks to the 1 debt vs 100days challenge and am hoping to clear my o/d (£850) by the end of January.

I am hoping that starting this diary will give me the motivation to clear this debt once and for all
Goals for September
Declutter 10/20
Money Made £56.52/£200
Overpayments £0/£200 not this month as need to put into savings instead
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Comments

  • mummytogirls
    mummytogirls Posts: 6,578 Forumite
    First Anniversary Combo Breaker First Post
    Hi Starnac, wow you sound determinded for 2011 :T!!!

    Oooh that 1 debt vs 100days challenge sounds interesting. Once ive got rid of my big loan in Jan 12 I will look into that one, thanks for the inspiration!!

    Good luck with clearing the overdraft :)
    Mummytogirls x

  • starnac
    starnac Posts: 5,917 Forumite
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    hi mummytogirls

    the 1 debt vs 100 days challenge is brilliant. the current one ends mid december with hopefully a new one starting in the new year. it really gives me the push i need. you just set a target of what you want to pay off in 100 days. you don't have to clear a whole debt you could say "i want to knock £1k off my loan" for instance
    Goals for September
    Declutter 10/20
    Money Made £56.52/£200
    Overpayments £0/£200 not this month as need to put into savings instead
  • starnac
    starnac Posts: 5,917 Forumite
    Name Dropper Photogenic First Post First Anniversary
    Money (look away now)

    O/D £850
    J/A O/D £1459.35
    DH O/D £1377.02
    Car Loan £3502.32
    Mint (DH) £2122.58
    Barcalycard (DH) £3634.63

    Total £12945.90

    The mint card was paid off the beginning of this year but we ended up putting moving costs on there. We also used our O/D's to make up the deposit shortfall we had due to buying a bit earlier than we had planned.

    It has been worth it as we now have our own space but we are meant to be DEcreasing our debts not INcreasing them.

    Off to have a look up the attic for anything i can ebay
    Goals for September
    Declutter 10/20
    Money Made £56.52/£200
    Overpayments £0/£200 not this month as need to put into savings instead
  • starnac
    starnac Posts: 5,917 Forumite
    Name Dropper Photogenic First Post First Anniversary
    i ventured off the DFW board yesterday. i wont be doing that again. people are so lovely and helpful on this board. unfortunately can't say the same for some of the other boards.

    got friends over tonight for a takeaway for DH's birthday which was monday. they are paying for it as a birthday treat so apart from petrol which i bought on the way home from work this morning i'm hoping for a NSD. need a MAJOR tidy up though before they come round. i really need to go to bed though so i think i might head off to bed now, get a couple of hours sleep then do a massive tidy after picking DD up from nursery. that way i can still get it done and have a sleep so i'm not too tired in work tonight.

    that might be a plan
    Goals for September
    Declutter 10/20
    Money Made £56.52/£200
    Overpayments £0/£200 not this month as need to put into savings instead
  • starnac
    starnac Posts: 5,917 Forumite
    Name Dropper Photogenic First Post First Anniversary
    payday :j

    i had plans to pay of half my O/D this month and then the rest next month but doesn't look like it will happen. we've got a rental property up north and the tenant decided not to pay her rent this month (November) so i had to pay the same amount almost into our bills account to cover the mortgage. :mad: so there goes my clearing the O/D plan. hopefully i can still knock £300 off though.

    been counting my sealed pot this morning ready for the BIG count up on the thread tomorrow.

    Also made most of the chocolates ready for our advent calendars. just need to put backs on them (advent calendars not chocolate) then we can hang them tonight.

    yay December tomorrow
    Goals for September
    Declutter 10/20
    Money Made £56.52/£200
    Overpayments £0/£200 not this month as need to put into savings instead
  • starnac
    starnac Posts: 5,917 Forumite
    Name Dropper Photogenic First Post First Anniversary
    as i mentioned before i would love to have my debt paid off by end of December 2011. after joining the fixed % challenge i have worked out the following

    my debt stands at £12902.04 as of today so to pay off all that by end of Dec 2011 leaves 13 paydays

    100%/13 = 7.69% a month = £992.46
    that's a lot each month :eek:

    now because i am really sad i have worked out that 1% = £129.06 so if i can reach that 7 times over in a month that doesn't sound quite so bad (maybe) :o
    Goals for September
    Declutter 10/20
    Money Made £56.52/£200
    Overpayments £0/£200 not this month as need to put into savings instead
  • frasersmum123
    frasersmum123 Posts: 862 Forumite
    Good luck with 2011 - I have the same DFD and like you I am trying to chip it down by a few months.

    Good luck for the big count up tomorrow :)
    Moving on up :o SPC #382 ~ £40 banked
    12k in 2016 #15. £541.91/£3000
  • starnac
    starnac Posts: 5,917 Forumite
    Name Dropper Photogenic First Post First Anniversary
    hi frasersmum thanks for popping in. good luck on your DF journey. only a month in too. are you ready for the sealed pot count up tomorrow?
    Goals for September
    Declutter 10/20
    Money Made £56.52/£200
    Overpayments £0/£200 not this month as need to put into savings instead
  • frasersmum123
    frasersmum123 Posts: 862 Forumite
    starnac wrote: »
    hi frasersmum thanks for popping in. good luck on your DF journey. only a month in too. are you ready for the sealed pot count up tomorrow?

    I have only just started the sealed pot challenge - so I am brand new and ready for next year. I am really excited for all of you though and am looking forward to seeing how many pennies you will all have.
    Moving on up :o SPC #382 ~ £40 banked
    12k in 2016 #15. £541.91/£3000
  • starnac
    starnac Posts: 5,917 Forumite
    Name Dropper Photogenic First Post First Anniversary
    i cheated and counted mine this morning. i started late last year and only had a very small amount but i made 3 figures this year so am really pleased
    Goals for September
    Declutter 10/20
    Money Made £56.52/£200
    Overpayments £0/£200 not this month as need to put into savings instead
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